Thursday, July 24, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Georgia

AcquisitionsGeorgiaMultifamilySoutheast

Capital Square Sells Ivy Commons Apartments in Metro Atlanta for $75.5M

by John Nelson

MARIETTA, GA. — Capital Square has sold Ivy Commons Apartments, a 344-unit multifamily community located in Marietta, a northeast suburb of Atlanta. A group of Delaware statutory trust (DST) investors owned the 28.4-acre property, which was acquired by Capital Square in 2018. The property features 39 residential buildings with apartments in one-, two- and three-bedroom layouts. Community amenities include a swimming pool, fitness center, business center, tennis courts, laundry facility, playground and conference room. Investors saw a 200 percent total return on their 1031-exchange investment, according to Capital Square. The buyer was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaRetailSoutheast

Sarofim Realty Advisors Sells 343,748 SF Plaza Fiesta Shopping Center in Atlanta

by John Nelson

ATLANTA — Sarofim Realty Advisors has sold Plaza Fiesta, a 343,748-square-foot retail center located on Buford Highway in northeast Atlanta. Chris Decoufle, Kevin Hurley, Matt Karempelis, Mike Burkard and Steve Shields of CBRE represented the seller in the transaction. Charlotte-based Asana Partners acquired the property for an undisclosed price. Mercado Fresco, a Hispanic grocery store, anchors the plaza, which was 95 percent leased at the time of sale. Plaza Fiesta’s tenant roster includes Ross Dress for Less, Planet Fitness, Ollie’s, Aaron’s, and a freestanding CVS/pharmacy and QuikTrip.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaHospitalitySoutheast

Hodges Ward Elliott Brokers Sale of 103-Room Artmore Hotel in Midtown Atlanta

by John Nelson

ATLANTA — Hodges Ward Elliott (HWE) has arranged the sale of Artmore Hotel, a 103-room boutique hotel located in Midtown Atlanta across from the Woodruff Arts Center and one mile from the Georgia Tech campus. Originally opened as the Granada Apartments in 1924, the property was converted to hotel use in 1984. Todd Ratliff and Nate Ries of HWE represented the undisclosed seller in the transaction. The buyer and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaMultifamilySoutheast

Alliance Residential to Develop 315-Unit Apartment Community in LaGrange, Georgia

by John Nelson

LAGRANGE, GA. — Alliance Residential Co. has purchased 22.3 acres in LaGrange with plans to develop Prose LaGrange, a 315-unit apartment community. Designed by Dynamik Design, the community will feature one- and two-bedroom units averaging 992 square feet. Amenities will include a fitness center, resort-style pool, grilling stations, coworking spaces, clubhouse, business center, pet park and a 24/7 LuxerOne parcel management system. The property will have direct access crosswalks to WellStar West Georgia Medical Center, which houses 1,800 medical employees, as well as a new Publix-anchored shopping center. Alliance Residential plans to open first units at Prose LaGrange in fall 2023. This will be Alliance Residential’s first project in the LaGrange area, second Prose project along Interstate 85 South and fifth Prose community in Georgia. The Arizona-based developer recently opened Prose Fairview, a 318-unit apartment community in Covington, Ga.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaMultifamilySoutheast

McShane Completes Construction of Enzo at Ariston Apartments in Buford, Georgia

by John Nelson

BUFORD, GA. — McShane Construction has completed Enzo at Ariston, a 265-unit apartment community that TPA Residential is developing in Buford, a northeast suburb of Atlanta. The property is one of the multifamily components within Ariston, a mixed-use development taking shape near the Mall of Georgia. Situated on eight acres, Enzo at Ariston features two four- and five-story wood-frame apartment buildings with a brick façade, as well as a precast concrete parking garage. Amenities include a heated saltwater swimming pool, outdoor grilling area and lounge, 24-hour fitness studio and power gym, enclosed dog park and a community lounge with a demonstration kitchen. Niles Bolton Associates designed Enzo at Ariston, which features one-, two- and three-bedroom floor plans with rental rates ranging from $1,593 to $3,313 per unit, according to the property website.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaRetailSoutheast

Atlantic Capital Partners Arranges $38.3M Sale of Metro Atlanta Shopping Center

by John Nelson

SNELLVILLE, GA. — Atlantic Capital Partners has arranged the sale of Snellville Pavilion, a 311,093-square-foot shopping center located in the Atlanta suburb of Snellville in Gwinnett County. Fred Victor, Justin Smith and Chris Peterson of Atlantic Capital represented the seller, Kimco Realty, and procured the New York-based buyer, United Properties, in the $38.3 million deal. Snellville Pavilion was 99 percent leased at the time of sale to tenants including Kohl’s and Belk, both of which have anchored the center since 2000.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaLoansMixed-UseMultifamilySoutheast

PMG, Greybrook Secure $182M Construction Loan for Society Atlanta Mixed-Use Tower

by John Nelson

ATLANTA — PMG and Canadian private equity firm Greybrook have obtained a $182 million construction loan for Society Atlanta, a 31-story mixed-use tower underway at 811 Peachtree St. in Midtown Atlanta. JLL arranged the financing through a major U.S. life insurance company and Related Fund Management. Designed by architecture firm Cooper Carry, Society Atlanta will feature 460 apartments, 82,000 square feet of Class A office space and 15,500 square feet of ground-floor retail space. Planned amenities include a pool deck with grilling and lounge areas, a large coworking lab with private conference rooms and a gym with a fitness studio. Cushman & Wakefield is leasing the office space, and Bridger Properties is leasing the retail space. Juneau Construction Co. is the general contractor for Society Atlanta, which broke ground in May 2022 and is slated for completion in late 2024. PMG has over 8,500 units planned for its Society Living brand in markets such as Miami, Fort Lauderdale, Orlando, Nashville, Denver and Brooklyn, with more to be announced soon.

Continue Reading
FacebookTwitterLinkedinEmail
GeorgiaMarket ReportsMultifamilySoutheastSoutheast Market Reports

Atlanta Attracts Reputable Employers, Discerning Investors and Qualified Renters

by John Nelson

Atlanta’s prowess within the Sun Belt as the dominant multifamily market did not happen by accident, nor did it occur overnight. Back in the 2000s, Atlanta was still an emerging market that was working to attract new employers while battling a season of oversupply that hampered rent growth across the city’s numerous submarkets. Now, and since the mid-2010s, Atlanta has defined itself as the premier entry point for investors looking to break into the Sun Belt, and its proven track record ensures it will continue serving as a global magnet for relocation, investment and expansion. Atlanta’s diversified economy has attracted some of the nation’s biggest and best names in just a few years’ time. While Silicon Valley has captured the tech world’s eye for decades, global powerhouses such as Microsoft, Google and Meta (Facebook) have started planting their flags in Atlanta with reported goals of adding tens of thousands of highly paid employees by 2030. Tech companies are capitalizing on a strategic opportunity in Atlanta to broaden their workforce in a market that boasts a highly educated and diverse population while providing an attractive cost of living. With respect to Atlanta’s employment growth, the presence of Georgia Tech cannot go …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaRetailSoutheast

Northmarq Arranges Sale of 20,053 SF Retail Center in McDonough, Georgia

by John Nelson

MCDONOUGH, GA. — Northmarq has arranged the sale of Towne Crest Village, a 20,053-square-foot retail center located in McDonough, approximately 30 miles south of Atlanta. Jeff Enck of Northmarq represented the private Florida-based buyer in the transaction. An individual Los Angeles-based investor sold the property for $5.7 million. Built in 2005, Towne Crest was 100 percent leased at the time of sale to a mix of local businesses including service retailers and restaurants.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaMultifamilySoutheastTop Stories

JLL Brokers $258M Sale of Two Abberly-Branded Apartment Communities in Decatur, Georgia

by Jeff Shaw

DECATUR, GA. — JLL Capital Markets has brokered the $258 million sale of two five-story, wrap-style apartment communities located in the northeast Atlanta suburb of Decatur. Development and management company HHHunt acquired Abberly Skye for $163 million and Abberly Onyx for $95 million. Northwood Ravin was the seller for both transactions. The two communities are located on the same block around a newly built shopping center anchored by a Sprouts Farmers Market and across the street from a recently renovated shopping center anchored by a Walmart Supercenter. Both properties are approximately seven miles from Midtown Atlanta. Abberly Skye was developed in 2020. The community offers 450 studio, one-, two- and three-bedroom units. Individual units include walk-in showers, glass-front kitchen cabinets, quartz countertops in kitchens and bathrooms, stainless steel appliances and balconies with walk-up patio options. Community amenities at Abberly Skye include a golf simulator, swimming pool, sauna, business center, podcasting room, fitness areas, TV lounge and gaming courtyard. Abberly Onyx was developed in 2017 and comprises 250 units. The building offers studio, one-, two- and three-bedroom floor plans, as well as community amenities such as a rooftop swimming pool, sauna, climbing gym, two-story outdoor lounge, indoor and outdoor game areas, …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts