Construction Underway on Hines’ @1377 Residences in Atlanta

(ATLANTA) – Hines, the international real estate firm, today announced that construction is underway on @1377, a new luxury multifamily complex in Atlanta.

The development represents Hines’ first for-rent residential project in the city and one of several under development in the Southeast Region.

@1377 is located within the highly desirable Brookhaven neighborhood on Dresden Drive, only a short walk from some of Atlanta’s best home-grown restaurants and bars, as well as the Brookhaven MARTA station on Peachtree Road.

The development will include 215 luxury urban-style residences in a four-story building with an attached multi-level parking garage.

The complex will feature a best-in-class amenity package including a resort-style swimming pool, a state-of-the-art fitness center, an Internet café and a sports lounge.

Residents will enjoy a short commute to the city’s key employment centers, as well as a multitude of shopping, dining and entertainment options in Brookhaven, Buckhead, Midtown and Central Perimeter.

Designed by The Preston Partnership of Atlanta, @1377’s architecture evokes a transitional style with buildings clad in brick, with stucco accents, large windows, wrap-around corner balconies and ground-level unit entry stoops at the sidewalk.

The project will offer studios, and one- and two-bedroom units ranging in size from 468 to 1,537 square feet, and will include high-quality finishes, such as granite countertops, stainless appliances, pendant lights, stained-wood cabinetry and ceramic tile surrounds, among others.

Units will have 9’ ceilings throughout the project, while top-floor “penthouse” units will have 10’ ceilings, 8’ doors and 42” cabinetry.

General Contractor Urban Oaks Builders expects occupancy of the first units in October 2013, with final completion in December 2013.

Alan Patton, senior managing director in charge of the firm’s Multifamily Division, said, “Hines’ multifamily platform is focused on delivering high-quality for-rent residential projects in all of our domestic markets.

We are committed to delivering a superior product with our @1377 project and are excited about its one-of-a-kind location within Atlanta’s well-known Brookhaven submarket.”

Hines Managing Director and leader of the firm’s Southeast Region multifamily platform Jon Wood said, “@1377 is an important project for us as it represents our entry into the Atlanta residential market in one of the best locations in the area, Brookhaven.

Our residents will be able to walk to many great neighborhood restaurants and bars, while several other dining, shopping and entertainment options are only a short distance away and are easily accessible by car or MARTA.

We look forward to growing our multifamily presence in Atlanta.”

In January 2011, Hines formed its Multifamily Division, with a focus to expand the firm’s multifamily development activity throughout the U.S. by working with Hines’ domestic regions on for-rent residential programs.

Currently, the Multifamily Division has more than 5,000 units in projects in various stages of development.

In addition to Atlanta, the company has other multifamily projects that are located in several U.S. cities including: Cambridge, MA; Chicago; Denver; Houston; Miami; Minneapolis; Pasadena, CA; Phoenix; Rockville, MD; and St. Petersburg, FL.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes 1,208 properties representing more than 488 million square feet of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.

With offices in 104 cities in 18 countries, and controlled assets valued at approximately $23.8 billion, Hines is one of the largest real estate organizations in the world. Hines is also a world leader in sustainable real estate strategies, with extensive experience in LEED®, ENERGY STAR®, BREEAM, Haute Qualité Environnementale and DGNB green building rating systems.

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