Ponce City Market Secures Enormous Construction Loan

PNC bank

After paying around $200 million out of pocket for the Ponce City Market, Jamestown Properties has just secured a $180 million construction financing for the redevelopment project, making it the largest loan since the recession. The loan is backed by PNC Bank, SunTrust Banks, and JP Morgan. This is the second large Atlanta-based loan that PNC Bank has gotten behind in the past year; last year the bank originated a $167 million construction loan for Buckhead Atlanta, another major mixed-use project in Atlanta.

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