Berkadia Secures $26.1M Acquisition Loan for Multifamily Property in Atlanta

ATLANTA — Berkadia has secured financing for Winters Creek, a garden-style multifamily property in Atlanta. Andy Hill and Tyler Nowlin of Berkadia secured the $26.1 million in acquisition financing for the property on behalf of Western Wealth Capital. The five-year, non-recourse, adjustable-rate bridge loan, financed through Bridge Investment Group, features interest-only payments and future funding for planned capital improvements.Winters Creek features one- and two-bedroom floor plans …

October 21, 2021Georgia, Loans, Multifamily, Southeast

Dominium Purchases Two Apartment Communities in Metro Atlanta, Plans $130M Affordable Housing Project

MCDONOUGH, GA. — Dominium has purchased The Promenade and Willow Place, two apartment communities located at 150 S. Zack Hinton Parkway in McDonough, to develop a $130 million affordable housing project. The development will provide 288 affordable homes for families and 182 homes for seniors. The seller(s) was not disclosed.Greystone arranged a Freddie Mac Tax Exempt Loan (TEL) for both deals, U.S. Bank provided financing for The Promenade and America First Multifamily Investors (ATAX) …

October 20, 2021Acquisitions, Affordable Housing, Georgia, Multifamily, Southeast

Berkadia Secures $49.7M Refinancing for Apartment Community in Metro Atlanta

NORCROSS, GA. — Berkadia has secured approximately $49.7 million in debt and equity for the refinancing of The Carter @ 4250, a 300-unit apartment community in Norcross. The financing includes a $33.1 million Freddie Mac loan that Mitch Sinberg and Brad Williamson of Berkadia arranged on behalf of the borrower, Miami-based One Real Estate Investment (OREI). The 10-year, floating-rate loan includes five years of interest-only payments.Addtionally, Chinmay Bhatt, Noam Franklin and Cody …

October 18, 2021Georgia, Loans, Multifamily, Southeast

Marcus & Millichap Brokers $12.6M Sale of Village Shoppes at Creekside in Metro Atlanta

LAWRENCEVILLE, GA. — Zach Taylor of the Taylor-McMinn Retail Group, a team within Marcus & Millichap’s Institutional Property Advisors (IPA) division, has brokered the $12.6 million sale of Village Shoppes at Creekside, a 98,859-square-foot shopping center in Lawrenceville. The shopping center is located at 860 Duluth Highway in Gwinnett County, about 31.6 miles from downtown Atlanta.The tenant roster at Village Shoppes at Creekside includes Badcock Furniture and Harbor Freight …

October 15, 2021Acquisitions, Georgia, Retail, Southeast

Stan Johnson Co. Negotiates Sale of 14,388 SF Shopping Center in Suwanee, Georgia

SUWANEE, GA. — Stan Johnson Co. has arranged the sale of Suwanee Celebration Village, a 14,388-square-foot shopping center in Suwanee. Jeff Enck, Brian Lane and Emery Shane of Stan Johnson Co. represented the seller, a locally based group of private investors. A McDonough, Ga.-based individual investor acquired the property for more than $5.1 million.Built in 2019, Suwanee Celebration Village is fully leased to seven tenants including Verizon Wireless and ATI Physical Therapy. More than …

October 15, 2021Acquisitions, Georgia, Retail, Southeast

Blaze Capital Partners Acquires Newly Built Apartment Community Near Savannah

GARDEN CITY, GA. — Blaze Capital Partners has acquired Tapestry Park, a 232-unit multifamily community in Garden City, about 8.3 miles from Savannah. Completed in September, Tapestry Park offers one-, two- and three-bedroom floorplans going up to 1,132 square feet. The property includes five, three-story buildings and two, four-story buildings. Community amenities include a pool, fitness center, clubhouse, courtyard and a playground.Located at 100 Town Center Drive, Tapestry Park has …

October 15, 2021Acquisitions, Georgia, Multifamily, Southeast

Lee & Associates Arranges $122M Sale of Apartment Property in Atlanta’s Upper Westside

ATLANTA — Lee & Associates has arranged the sale of Novel Upper Westside, a 345-unit apartment community in Atlanta that was renamed as Luna Upper Westside. Equity Residential, a Chicago-based multifamily investment firm, purchased the property for $122 million. Crescent Communities was the property's developer. Allen Eager of Lee & Associates represented the buyer in the sale.Located at 2265 Marietta Blvd., Luna Upper Westside offers studio, one-, two- and three-bedroom layouts. …

October 14, 2021Acquisitions, Georgia, Multifamily, Southeast

Easterly Government Properties to Acquire 10-Property VA Portfolio for $635.6M

WASHINGTON, D.C. — Easterly Government Properties Inc. (NYSE: DEA) has entered into an agreement to acquire a 1.2 million-square-foot, 10-property portfolio of facilities leased to the Department of Veterans Affairs (VA) for $635.6 million. The properties will be purchased in a joint venture with an undisclosed global investor, with Easterly retaining a 53 percent stake in the portfolio. Two of the properties are open, while the other eight are currently under …

October 14, 2021Alabama, Arizona, District of Columbia, Florida, Georgia, Healthcare, Kansas, Midwest, Southeast, Tennessee, Texas, Top Stories, Western

JLL Secures Construction Financing for $2B High Street Project in Atlanta’s Central Perimeter

ATLANTA — JLL Capital Markets has arranged a construction loan for the development of Phase I of High Street, a $2 billion, 36-acre mixed-use development along Perimeter Center Parkway in Atlanta’s Central Perimeter submarket. Ed Coco and Matt Casey of JLL arranged the loan through Bank OZK on behalf of the developer, owner and operator of the project, GID Development Group. The loan amount was not disclosed.High Street will feature approximately 150,000 square feet of retail and …

October 13, 2021Development, Georgia, Loans, Mixed-Use, Southeast

Law Firm Signs 100,000 SF Office Lease at 1420 Peachtree in Midtown Atlanta

ATLANTA — Swift, Currie, McGhee & Hiers LLP, a law firm with offices in Georgia and Alabama, has signed a lease for a 100,000-square-foot office space at 1420 Peachtree St. NE. in Midtown Atlanta. The firm is relocating from The Peachtree Tower at 1355 Peachtree St., where it has operated for more than 30 years.Tim McCarthy and Ryanne Pennington of JLL represented Swift Currie in the deal, and Chip Roach and Stephen Clifton of Transwestern representing the building’s owner, Franklin …

October 11, 2021Georgia, Leasing Activity, Office, Southeast