Toll Brothers, JD Capital USA Secure $45.7 MM Loan To Build Motto Decatur

Newly-formed joint venture will deliver the 290-unit apartment community as part of a Publix-anchored mixed-use.
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Toll Brothers, Inc. through its Toll Brothers Apartment Living rental subsidiary and JD Capital USA earlier this month announced the formation of a new joint venture to develop Motto, a 290-unit apartment community in Decatur. The joint venture has secured a $45.7 million construction loan from Santander Bank, N.A. The debt and equity financing were arranged by Toll Brothers’ in-house finance department. Toll Brothers Apartment Living will manage the development, management, and marketing of Motto.

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Motto will be the third community and newest project Toll Brothers Apartment Living has started in the Atlanta-area. “We’re excited to grow in this market as we see a significant amount of employer and population growth,” Charles Elliott, president of Toll Brothers Apartment Living, said in the announcement. “Our community will be a great addition to the Decatur neighborhood, offering an elevated suburban living experience with the conveniences of urban living.”

The community is a 5- and 6-story building with a structured parking garage situated on a 3.2-acre site, at North Arcadia Ave. and East Ponce de Leon Ave. Motto is part of a larger mixed-use site that will be anchored by a Publix grocery store and additional service-oriented businesses. Motto’s floor plan styles will include studio, one-, and two-bedroom apartments. Amenity features will include a pool, clubroom and coffee bar, fitness center, community-wide WiFi, courtyards, pet spa, bicycle storage, and more.

Details surrounding the project’s timeline, and the other mixed-use components including the Publix anchor, are scarce. Reps for Toll Brothers on Thursday did not immediately respond to a request for comment.

Caleb J. Spivak

Caleb J. Spivak (CJS) is the Founder of What Now Media Group, Inc., the publisher of What Now Atlanta and What Now Los Angeles.
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