Construction commences on 28-story luxury high-rise apartment building in Midtown Atlanta's Arts District

ATLANTA – (June 28, 2022) – Atlantic Residential, FIDES Development, Capital City Real Estate and Mitsui Fudosan America are pleased to announce that construction has begun on a new 350-unit luxury apartment building, through a joint venture of the four organizations. The building will offer the highest levels of amenities and finishes offered in Midtown Atlanta, with the first units scheduled for delivery in June 2024.

Located at 1441 Peachtree Street in Midtown Atlanta’s Arts District, residents will be surrounded by everything this dynamic location has to offer. In what has been called “the Most Cultured Square Mile in the Southeast,” residents will have an easy walk to many iconic offerings, including the High Museum of Art, the Atlanta Symphony Orchestra, Alliance Theatre, the Museum of Design Atlanta (MODA), Savannah College of Art and Design (SCAD) and the Breman Jewish Heritage Museum. Open space is plentiful, with Pershing Point Park across the street, Ansley Park directly to the east, and Piedmont Park just a few blocks to the southeast. The Arts Center MARTA station is also a quick walk away, providing access to public transit.

Residents will enjoy a stunning internal sky bridge leading to both individual and collaborative co-working spaces, a state-of-the-art fitness center, elegant wine bar and lounge, private dining area, sparkling pool with sundeck, and an awe-inspiring rooftop bar and lounge with breathtaking views of Ansley Park and the Midtown and Buckhead skylines. There will also be two restaurant spaces in the lobby with soaring ceilings and floor-to-ceiling glass.

The residences will feature studios, one, two, and three-bedroom floor plans, many with balconies or generous terraces. Interiors include gourmet kitchens with upgraded appliances, LED lighting packages, and other finishes found in high-end condominium buildings.

“The inspiration for the architectural character of the building came from two iconic landmark structures placed on opposite ends of the Arts District; The High Museum by Richard Meier to the south, representing an icon of high art, and the SCAD “Forty” building to the north, an on-campus residential community designed by Mackey Mitchell, representing the artists without whom art would not be possible. The emerging composition is a dialogue between the two inspirations and creates a rhythmic façade of superimposed grids, tones, solids, planes, and voids,” said project architect Andres Rubio, Principal at Niles Bolton Associates in Atlanta.

"Our development team is known for developing distinctly designed properties inspired by the neighborhoods in which they are located,” says Richard Aaronson, CEO of Atlantic. “For this new property, we are pulling from the creativity and energy of Midtown’s Arts District to create the distinct character of this luxury community. Residents will be able to live, work, and play within walking distance to Atlanta’s finest art institutions and performances. Additionally, it’s the quality of this building and location that attracted Mitsui Fudosan America, the U.S. branch of Japan’s largest real estate company and one of the premier international real estate investors, to our project.”

Landscape design and civil engineering services are being provided by Kimley-Horn and the general contractor is Brasfield & Gorrie. JLL Capital Markets worked on behalf of the borrower to arrange the joint venture equity through Mitsui Fudosan America. The JLL team was led by Managing Directors Gregg Shapiro and Matt Casey.

About Atlantic Residential

Atlantic Residential is an Atlanta-based, commercial real estate development company that develops and manages luxury residential and mixed-use projects. Inspired to improve the quality of life for residents and their communities, the company was founded by brothers Richard and Andrew Aaronson in 1995. The firm focuses on building Best-in- Class Homes in Best-in-Class Neighborhoods. Atlantic has regional offices in Chicago and Ft Lauderdale and has developed $3.0 billion in residential and mixed-use projects totaling more than 9,000 residential units.

About FIDES Development

FIDES Development is an Atlanta-based firm founded in 2020 by industry veterans who bring together more than $5 billion in real estate development and investment experience. The firm has a people first commitment, and champions projects that are market-proven, cost-effective and socially responsible. The project is one of many starts for FIDES Development in 2022, with others in January on a 160-unit community in Norcross, GA, in June on a 192- unit mid-rise project in Chamblee, GA, in September on a 340-unit mid-rise on the Charleston Peninsula, and in October on 205-units with deep water frontage across the southern shoreline of Lake Lanier.

About Capital City Real Estate

At Capital City Real Estate (CCRE), our passion is to develop high quality, distinctly designed properties in dynamic neighborhoods. Since 2006, we have successfully developed over forty residential and mixed-use projects and have become a leading developer of urban infill properties throughout the Mid-Atlantic and Southeast. CCRE has offices in both Atlanta and Washington DC. For more information about Capital City Real Estate, please visit www.capcityre.com.

About Mitsui Fudosan America

Mitsui Fudosan America, Inc. (MFA) is the U.S. subsidiary of Japan's largest real estate company, Mitsui Fudosan Co., Ltd., a publicly traded company with approximately $65 billion of assets. MFA is responsible for Mitsui Fudosan's real estate investment and development activities in North America, and is headquartered in New York City, with regional hubs in Washington DC, San Francisco, Los Angeles, Dallas, and Honolulu. MFA has been active in the United States since the 1970s and currently owns assets in the New York City, Washington DC, Boston, Seattle, San Francisco, Los Angeles, Dallas, Hoboken, San Diego, Denver and Honolulu metropolitan areas. MFA’s U.S. portfolio includes approximately 5.6 million square feet of office space, 7.2 million square feet of office space under development, 2,000 residential apartments, and 5,300 additional rental units under development, as well as 741 hotel rooms. Additionally, MFA has recently developed several condominium projects in the New York and Washington DC markets.

For further information contact:

Rachel Tobin, TobinInk., 404-276-5930, rachel@tobinink.com, McKenna Kauffmann, TobinInk., 678-449-8725, mckenna@tobinink.com