REBusinessOnline

Southeast

Gaia Acquires New Apartment Community in Nashville for $76.4M

NASHVILLE, TENN. — Gaia Real Estate has acquired Carillon, a 306-unit apartment community in Nashville’s Germantown neighborhood. Embrey Partners, the project developer, sold the community to the private real estate investment firm for an undisclosed price, but the Nashville Business Journal reports the sales price was $76.4 million. Constructed in 2016, the community features a central courtyard, fire pit, swimming pool, fitness center, yoga room and bike storage. In addition, Gaia Real..

December 12, 2017

SunTrust Provides $58.3M Construction Loan for 26-Story Student Housing Tower in Downtown Atlanta

ATLANTA — SunTrust Banks Inc. has provided a $58.3 million construction loan for the development of 120 Piedmont, a 685-bed student housing community located a half-mile from Georgia State University in downtown Atlanta. SunTrust originated the loan on behalf of the developer, South City Partners. The $90 million project will total 467,125 square feet, including 8,200 square feet of retail space. Community amenities will include a rooftop deck with an outdoor living room, grilling area and..

December 12, 2017

Blue Magma, NCP Enterprise Acquire Multifamily Portfolio Across Southeast for $34M

ATLANTA — A joint venture between Tampa, Fla.-based Blue Magma Residential LLC and New York-based NCP Enterprise Funds has acquired a three-property multifamily portfolio located across Georgia, Mississippi and Alabama for a combined $34 million. The new owners will invest more than $5 million in capital improvements to the portfolio, which totals 565,282 square feet. The 188-unit Orchard Cove in Covington, Ga., roughly 35 miles southeast of Atlanta, was purchased for $15.2 million. The..

December 12, 2017

Halpern Enterprises Opens 30,000 SF Medical Office Building in Metro Atlanta

SMYRNA, GA. — Halpern Enterprises has opened Belmont Physicians Center, a 30,000-square-foot medical office building located within Belmont, a 48-acre mixed-use community in the Atlanta metro of Smyrna. Emory Healthcare anchors the center, which is located roughly 18 miles northwest of downtown Atlanta. Other tenants at Belmont Medical Center include Gentle Care Dentistry, Cobb Pediatrics and Smyrna Pediatric Dentistry. The two-story building was designed by Lyman Davidson Dooley Architects..

December 12, 2017

Frampton Construction Completes Event Space at Omni Hotel in Asheville

ASHEVILLE, N.C. — Frampton Construction Co. LLC has completed construction on the 10,000-square-foot Seely Pavilion and event lawn at The Omni Grove Park Inn in Asheville. The hotel is located roughly four miles from the Biltmore Estate and less than three miles from downtown Asheville. The Seely Pavilion features a Douglas fir timber structure with indigenous dry-stack stone columns, polished concrete flooring, stone fireplace, full-height glass curtain walls and views of the Blue Ridge..

December 12, 2017

Talent, Technology Are Top Priorities for Multifamily Operators Today, Says InterFace Panel

ATLANTA — Apartment management is a people-intensive industry that requires dedicated team members at multiple levels. Finding talented and driven individuals is priority No. 1 for multifamily operators. But seasoned executives are the first to admit that hiring is difficult in an expanding economy where recent graduates have multiple career paths at their choosing. Property management firms are recruiting prospects who are working in outside industries, which has been a reliable..

December 12, 2017

Home Improvement Distributor to Move 92,000 SF World Headquarters to Metro Memphis

COLLIERVILLE, TENN. — Orgill Inc., a wholesale distribution and retail services provider for the home improvement industry, will relocate its new world headquarters from Germantown, Tenn., to Collierville later this month. The company will move 265 employees into its new 92,000-square-foot facility, a new building located roughly 30 miles southeast of Memphis. The $21 million facility is expected to create 115 new jobs by 2022.

December 11, 2017

Meritex to Deliver 79,420 SF Industrial Facility Near Charlotte Douglas International Airport

CHARLOTTE, N.C. — Meritex has broken ground on a 79,420-square-foot industrial building located next to CLT Logistics Center, an 11-building industrial campus located roughly four miles south of Charlotte Douglas International Airport. Meritex acquired CLT Logistics Center in 2016 for $46.3 million, with plans to develop on the adjacent land site. The new building will feature 32-foot clear heights, a 60-foot speed bay, store fronts with timber panel finishes and additional trailer storage...

December 11, 2017

Capitol Seniors Housing Breaks Ground on $27.5M Assisted Living Community in Maryland

FULTON, MD. — Capitol Seniors Housing has broken ground on Arbor Terrace Maple Lawn, an assisted living and memory care community in Fulton, approximately midway between Baltimore and Washington, D.C. The $27.5 million, 73,000-square-foot community will feature 86 apartments. Baltimore-based BCT Architects designed the structure, while Dallas-based Faulkner Design Group designed the interiors. The Arbor Co. will operate the community upon completion, which is scheduled for fourth-quarter..

December 11, 2017

Phillips Edison Acquires Kroger-Anchored Retail Center in Metro Atlanta for $13.9M

DACULA, GA. — Phillips Edison & Co. has acquired Mountain Crossing, a 96,606-square-foot shopping center in Dacula, 38 miles northeast of Atlanta in Gwinnett County, for $13.9 million. The name of the seller was not disclosed. Kroger anchors the center, which is also home to a UPS Store, Great Clips, Allstate Insurance and Chevron. Cincinnati-based Phillips Edison manages a portfolio of more than 345 shopping centers — 236 of which it owns directly — located in 32 states.

December 11, 2017