Cushman & Wakefield announced today that the commercial real estate services firm has arranged more than $224 million in construction financing on behalf of Portman Holdings for 1020 Spring, a speculative Class A+ office tower.

Brian Linnihan, Mike Ryan, Richard Henry, and JP Cordeiro of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the construction loan through Goldman Sachs.

“Located around the historic H.M. Patterson House & Gardens site in the heart of Midtown, the new office building will be the next crown jewel of the city,” said Linnihan, Vice Chair at Cushman & Wakefield. “Office demand in Midtown is 4.5 times greater than supply for full floor vacancies available, led by the tech tenants fueled by Georgia Tech.”

Expected to break ground during the second quarter of 2022, 1020 Spring will be one of the latest additions to Atlanta’s premier Midtown submarket. The 25-story office tower will offer 528,000-square feet of rentable space and 8,000 square feet of ground floor retail. It will also include highly differentiated amenities like a large co-working collaborative space adjacent to a roof top bar, balconies on every floor, a state-of-the-art fitness center with an outdoor exercise space, and ground floor retail.

1020 Spring is part of Portman Holdings’ larger mixed-used development project, Spring Quarter, that began last year and is centered around the historic H.M Patterson House & Gardens, designed by famed architect Philip T. Schutze. The historic building and garden will be preserved and restored into a new destination retail experience.