Eldridge Capital Management (“Eldridge”), today announced a $278 million loan to refinance Ten Twenty Spring, a premier office building in Atlanta, Georgia, owned by Portman and funds affiliated with Blackstone Real Estate.

Across 25 stories, Ten Twenty Spring features 540,000 sq feet of Class-A office space, with floor-to-ceiling windows and 360-degree panoramic views of Atlanta. The property offers market-leading amenities, including an indoor-outdoor bar, rooftop omakase, 16,000 sq feet of private office terraces, a coworking lounge, historic gardens, and pedestrian-friendly, ground floor retail.

Located in the heart of Atlanta’s Midtown, the property benefits from excellent connectivity to the MARTA Midtown station, I-75 and I-85, and the Hartsfield-Jackson Atlanta International Airport. With access to over 300 acres of parks, world-class art and attractions, and 150 restaurants in the surrounding area, Ten Twenty Spring places tenants at the center of one of Atlanta’s most dynamic neighborhoods.

“Having supported Ten Twenty Spring since construction, this transaction demonstrates our belief in the asset and the significant demand it has continued to attract,” said Daniel Weisen, Senior Director at Eldridge Capital Management. “We are pleased to build on our partnership with Blackstone and Portman and are committed to providing flexible capital solutions for best-in-class real estate.”

Eldridge is focused on investing opportunities throughout the US, UK, and Europe. Since 2014, the real estate credit platform has originated over $12 billion in loans, leveraging an experienced team to provide liquidity and flexibility to high quality sponsors throughout the capital structure.

“Ten Twenty Spring demonstrates the significant demand for best-in-class office product integrated within a vibrant mixed-use district,” said John C. Portman IV, President of Portman. “The leasing momentum we have already seen at the building speaks to the caliber of the team’s execution and solidifies it as one of the most competitive office assets in the market. We are grateful for our partnership with Eldridge, whose confidence in this property has been instrumental to its success.”

Ten Twenty Spring has drawn notable tenants including Ernst & Young, Reed Smith, and Pinnacle Financial Partners, which recently announced it will establish its new corporate headquarters across five floors at the building. At the ground floor, Sozou, a modern Japanese dining experience by acclaimed chef Fuyuhiko Ito, will open this summer.

About Eldridge

Eldridge, a global holding company, manages a diversified set of businesses and investments across Asset Management, Critical Minerals, Culture & Media, Defense & Security, Infrastructure, and Insurance. To learn more, please visit eldridge.com.

About Portman

Portman Holdings, LLC is a real estate development company with a rich history of developing premier projects that span seven decades and three continents. The company was founded by famed architect and developer John C. Portman Jr., who originally pioneered the concept of the architect as a developer and created a global legacy of large-scale mixed-use developments. The company is now led by Chairman and CEO Ambrish Baisiwala and President John Portman IV. Today, Portman Holdings’ multi-faceted expertise sets the standard of excellence for developing office, residential, industrial, hospitality, and retail mixed-use complexes and stand-alone developments nationally across the USA. Learn more at portmanholdings.com

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