Toro Development Company and Ascentris Secure $90M Construction Loan for Medley Encore

Why It Matters

The financing accelerates a major suburban mixed‑use hub, boosting regional office and retail supply while attracting high‑end tenants. The project’s scale positions Johns Creek as a growing live‑work‑play destination, potentially lifting local tax revenues and employment.

Key Takeaways

• $90M loan closes, enabling Encore phase construction.
• 37 leases signed, covering 78% retail, 82% office space.
• Encore adds 145k sq ft retail, 110k sq ft office, 150‑key hotel.
• First phase opens Oct 2026; hotel debut slated 2028.

Pulse Analysis

The suburban resurgence of mixed‑use projects is gaining momentum as developers seek to blend residential, office, and hospitality functions within walkable footprints. Toro Development Company (TDC), in partnership with private‑equity partner Ascentris, sealed a $90 million construction loan this month to launch the second phase—dubbed “Encore”—of the Medley development in Johns Creek, Georgia. The financing not only de‑risks the build‑out but also signals confidence in the area’s demographic growth and the appetite for premium, lifestyle‑oriented office space. Encore is scheduled for completion in 2027.

Medley’s master plan envisions 145,000 sq ft of retail and restaurant venues, 110,000 sq ft of flexible office space, a 150‑key boutique hotel, and a 25,000‑sq ft plaza programmed for up to 200 events annually. To date, TDC has secured 37 tenant commitments, covering 78 % of the retail inventory and 82 % of the office footprint, including seven new brands that broaden the tenant mix. The first phase, featuring 340 multifamily units and 125,000 sq ft of retail, is slated to open by October, while the hotel is expected in 2028.

The project’s scale positions Johns Creek as a regional live‑work‑play hub, attracting professionals who value proximity to amenities and high‑quality office environments. Local officials anticipate increased sales‑tax revenue and job creation as the plaza and event programming draw visitors from the greater Atlanta metro area. Moreover, the infusion of upscale office space could alleviate pressure on downtown Atlanta’s commercial market, offering firms a suburban alternative with modern infrastructure. As the mixed‑use trend continues, Medley may serve as a template for future developments in fast‑growing suburbs.

Deal Summary

Toro Development Company (TDC) and its capital partner Ascentris have closed a $90 million construction loan to fund the second phase of the Medley mixed‑use project in Johns Creek, known as Encore. The financing will support the addition of seven new brands, bringing total leases to 37 and covering 78% of retail and 82% of office space. Encore is slated to open in 2027.