REBusinessOnline

NexPoint Sells Apartment Complex in Metro Atlanta for $101M

SANDY SPRINGS, GA. — NexPoint Residential Trust has sold Edgewater at Sandy Springs, a 700-unit apartment complex in Sandy Springs, for $101 million. According to Fulton County property deeds, Bridge Investment Group acquired the property for $132,000 per unit. Edgewater at Sandy Springs offers one- and two-bedroom floor plans. The asset is located at 7600 Roswell Road, 19 miles north of downtown Atlanta. Communal amenities include a swimming pool, clubhouse, car wash area, business center, …

Ackerman, MDH Partners Acquire Mixed-Use Project in Atlanta’s West End for $40.3M

ATLANTA — Ackerman & Co. and MDH Partners have acquired the four-building, 433,204-square-foot Lee + White project in Atlanta’s West End for $40.3 million. The seller, Stream Realty Partners, recently redeveloped the buildings, which were initially constructed as industrial facilities in the 1950s and 1960s. The Lee + White buildings are currently home to breweries, restaurants, retailers and food manufacturers. The buyers plan to add a 20,000-square-foot food hall, 30,000 square feet …

Blue Magma Acquires Multifamily Community Near Atlanta Airport for $32.5M

EAST POINT, GA. — Blue Magma Residential LLC has acquired Parkside at Camp Creek, a 486-unit multifamily community in East Point, for $32.5 million. The property is located at 4031 7 Oaks Lane SW, four miles west of Hartsfield-Jackson Atlanta International Airport and 14 miles southwest of downtown Atlanta. Parkside at Camp Creek offers two- and three-bedroom floor plans and was 95 percent occupied at the time of sale. Communal amenities include a swimming pool, clubhouse, business center, …

Parkway Property Acquires Former United Way Building in Downtown Atlanta for $17.7M, Plans $45M Renovation

ATLANTA — Parkway Property Investments LLC has acquired 100 Edgewood, a former United Way building within an Opportunity Zone in downtown Atlanta, for $17.7 million. The company is planning a $45 million renovation for the 18-story, 306,000-square-foot office building, which is adjacent to Georgia State University. United Way employees have moved to a location on Courtland Street. Parkway Property raised $25 million in three hours for the acquisition and renovation through CrowdStreet Inc., …

Capital Markets Professionals Put Mixed-Use Dynamics Under the Microscope During InterFace Panel

ATLANTA — One of the central themes of the first annual InterFace Mixed-Use Southeast conference was the interplay between the various uses present within mixed-use projects around the region. Whether it's Avalon in Alpharetta, Georgia, or the American Tobacco Campus redevelopment in downtown Durham, North Carolina, the success of these projects hinges on whether the different uses can support one another. Can the apartment residents help patronize the retail and restaurants? Can the office …

Songy Highroad, Hyatt Open 11-Story Hotel in Downtown Atlanta

ATLANTA — A joint venture between Songy Highroad and Hyatt Hotels Corp. has opened its 11-story Hyatt Place Centennial Park in downtown Atlanta. The 175-room hotel, which was announced in November 2017, opened on Thursday, Sept. 12. Amenities include ground-level retail space facing Luckie and Marietta streets, a swimming pool, fitness center, lobby bar, onsite food service, parking deck, 2,100 square feet of meeting space and a large aquarium in the lobby paying homage to its neighbor …

Cortland Purchases New Apartment Complex in Metro Atlanta

PEACHTREE CORNERS, GA. — Cortland has purchased Echo Lakeside, a 296-unit apartment complex in Peachtree Corners that was delivered in April. The buyer will rebrand the property as Cortland Peachtree Corners. The property is bordered by two lakes, which includes two docks for residents to fish from or launch kayaks. Additional communal amenities include a clubhouse, business center, fitness center, swimming pool, rideshare space and a dog park. The seller and sales price were not disclosed, …

FCP Acquires Multifamily Community in Southwest Atlanta for $23.2M

ATLANTA — FCP has acquired Ashford at Spring Lake, a 180-unit multifamily community in southwest Atlanta, for $23.2 million. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, playground, fitness center and a swimming pool. The complex is located at 6200 Bakers Ferry Road, 13 miles west of downtown Atlanta. Pinnacle Management, which manages 17 communities for FCP throughout the Southeast, will manage Ashford at Spring Lake. Matt White, …

Memory Care is Down But Not Out, Say Investors

ATLANTA — Seniors housing investors are pumping the brakes on acquiring memory care facilities as the property type’s fundamentals and high turnover have proven to be worrisome. That’s according to an investment panel during the annual InterFace Seniors Housing Southeast conference. Held on Wednesday, Aug. 28 at the InterContinental Buckhead Atlanta, the one-day conference attracted more than 430 seniors housing professionals from all over the Southeast. Memory care is a subsector …

Peak Campus, Blue Vista Capital Complete 525-Bed Student Housing Community in Atlanta

ATLANTA — Peak Campus Development and investment partner Blue Vista Capital Management have completed Theory West Midtown, a 525-bed student housing community located near the Georgia Institute of Technology in Atlanta. The property offers fully furnished studio, one-, two-, three- four- and five-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool with a sundeck, outdoor grilling area, 24-hour fitness center, computer lab, study lounges, game room …

Conferences