SunTrust Funds Development Financing for $300M Luxury Project in Atlanta

ATLANTA — SunTrust Banks Inc. (NYSE: STI) has provided $86 million in financing first-phase construction of Village Park Senior Living.

Located in Atlanta’s affluent Buckhead neighborhood, development costs for the full, three-phase construction will total $300 million. The first phase will introduce 204 of the 600 planned units of independent living, assisted living and memory care.

Located on nine acres, Phase 1 is scheduled for completion in fall 2020.

SunTrust assisted as lead arranger on the deal, with additional financing provided by First Tennessee and Pinnacle Bank.