Ascentris and Toro Development Company Close on 43-Acre Mixed-Use Development in Atlanta

Denver, Colorado (November 4, 2024)

Ascentris and Atlanta-based developer Toro Development Company announced the closing of Medley Johns Creek, a 43-acre, $400 million mixed-use development located in Johns Creek, Georgia, a suburb of Atlanta.

At the same time, the partnership secured $158 million in construction financing from Mexico City-based Banco Inbursa to fund the project’s first phase of development.

Construction will begin immediately, with a grand opening anticipated in late 2026.

Upon full buildout, Medley Johns Creek is expected to include:

• 150,000 square feet of retail, restaurant, and entertainment space
• 750 Class A+ multifamily residences
• A 175-key boutique hotel
• 110,000 square feet of lifestyle office space
• 133 for-sale townhomes
• A 25,000-square-foot central plaza

The development is planned as the centerpiece of the City of Johns Creek’s broader 192-acre Town Center Vision and Plan, which aims to connect housing, restaurants, retail, and office space through public pathways, parks, and gathering areas.

Announced tenants for Medley include:

• Little Rey (Ford Fry)
• CRÚ Food & Wine Bar
• Fadó Irish Pub
• Summit Coffee
• Lily Sushi Bar
• Knuckies Hoagies
• Cookie Fix
• Sugarcoat Beauty
• BODY20
• AYA Medical Spa
• 26 Thai Kitchen and Bar
• Five Daughters Bakery
• Drybar Shops
• Minnie Olivia
• Burdlife
• Amorino
• Pause Studio
• Fogón
• Lions
• Clean Your Dirty Face

“We are thrilled to partner with such an experienced developer as Toro Development Company on this remarkable mixed-use project,” said Tricia Noble, Partner and Managing Director at Ascentris. “We hope to replicate the vibrant sense of community and success Toro has achieved with its previous mixed-use projects while making Medley a unique destination.”

“Medley represents one of the best suburban real estate sites in the country,” added Mark Toro, Founder and Chief Vision Officer of Toro Development Company. “Our plan will transform a struggling office park into a walkable, urban destination where the community can gather.”

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About Ascentris

Ascentris is a real estate private equity firm based in Denver, Colorado that manages a series of fully discretionary institutional vehicles targeting both value-add and core investments across major property types and geographic regions throughout the United States.

Since 2003, the firm’s management team has followed an investment philosophy and organizational structure designed to deliver opportunities ahead of the market while providing a high level of service, transparency, and accountability.

Ascentris is a privately held and management-owned SEC-registered investment adviser committed to putting investors’ needs first. Additional information is available at Ascentris.com.

Note: Being a registered investment adviser with the SEC does not imply any specific level of skill or training.

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About Toro Development Company

Toro Development Company (TDC) specializes in acquiring underperforming real estate assets and redeveloping them into mixed-use environments designed as “third places.”

A “third place” refers to a social environment outside of home and work where people gather, connect, and engage with the community.

Led by Mark Toro, the firm has delivered notable projects including:

• Avalon in Alpharetta
• Colony Square in Midtown Atlanta
• Atlantic Station in Midtown Atlanta

Toro Development Company combines data analysis, creative design, and community-focused planning to unlock value in redevelopment opportunities.

More information is available at torodevco.com.