ATLANTA (October 18, 2016) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce the firm served as legal counsel to State Bank & Trust Company in the closing of a $29,230,000.00 syndicated construction loan to Braves Entertainment Company, LLC. The co-lender was Atlantic Capital Bank, N.A. The loan will finance the construction of the Braves entertainment district which includes a 76,000-square-foot office building, 53,000-square-foot Roxy Theatre to be operated by Live Nation, 16,000 square feet of retail and a 400 space parking deck at The Battery Atlanta as part of the new Atlanta Braves SunTrust Park development.
The Battery Atlanta is planned to be the South’s preeminent lifestyle destination. The 1.5 million-square-foot mixed-use development will feature boutique shopping, chef-driven restaurants, a hotel, The Coca-Cola Roxy Theatre, 550 residences and Comcast’s regional headquarters. The Battery Atlanta is adjacent to SunTrust Park, the new home of the Atlanta Braves baseball team, which will open in 2017.
David Burge, head of SGR’s Real Estate Practice Group and Associate Matthew Moore and Partner Eugene Bryant also with the firm’s Real Estate Practice Group represented State Bank & Trust Company.