Wednesday, November 19, 2025
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Affordable HousingDevelopmentGeorgiaLoansSeniors HousingSoutheast

KeyBank Arranges $72.8M Financing for Redevelopment of Atlanta Civic Center into Affordable Seniors Housing

by John Nelson

ATLANTA — KeyBank Community Development Lending and Investment (CDLI) has arranged $72.8 million in financing for a redevelopment phase of Atlanta Civic Center. The borrower, Civic Center Partners, is converting a portion of the property into a 148-unit affordable seniors housing community. Civic Center Partners — a joint venture between The Michaels Organization, Sophy Cos. and Republic Properties — is partnering with Atlanta Housing, which owns the Atlanta Civic Center, on the project. KeyBank CDLI provided a $39.1 million taxable construction loan and $25.2 million in federal low-income housing tax credit (LIHTC) equity. Key Commercial Mortgage Group originated an $8.5 million Fannie Mae MTEB permanent loan, and KeyBanc Capital Markets underwrote two series of tax-exempt bonds totaling $30 million. Upon completion, the senior living community will feature 30 units reserved for residents earning at or below 50 percent of the area median income (AMI); the remaining 118 units will be reserved for seniors earning at or below 60 percent of AMI. All units will be reserved for residents age 55 and older. Amenities at the community will include a lobby, package room, social service office, arts-and-crafts room, fitness center, community room, computer lounge and laundry room. Additionally, 500 square feet of …

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GeorgiaMarket ReportsRestaurantRetailSoutheastSoutheast Market Reports

Exhibit on Atlanta Retail: Observations from Intown to the ‘Burbs

by John Nelson

If you’ve spent any time driving around Atlanta recently, you’ve probably noticed something. More development sites are returning with bulldozers and developers are taking down land parcels in the suburbs the size of small European countries. But this time, the approach is more strategic than ever.  Gone are the days when a developer would carve out a shopping center for base rents less than $40 per square foot and call it a day. Today, some metro Atlanta developers are assembling larger tracts and creating hybrid projects that include multifamily housing, storage and even industrial uses in the back of the parcel, saving the front-facing road frontage for ground leases, build-to-suits and limited shop space. Automotive and restaurants concepts are clamoring for pads.  The result? Those once-overlooked “front and center” pad sites and strip centers are suddenly the belle of the ball. The downside is paying too much on the buy side for the dirt for aggressively low caps rates. But all I can say for the rental rates that I’m seeing is “Wow.”  Restaurants still lead In Atlanta’s retail market, restaurants continue to be the leading driver of leasing activity. According to observations, excluding junior box space, food-and-beverage deals made …

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GeorgiaLeasing ActivityOfficeSoutheast

Foundry Commercial Arranges Office Headquarters Lease at Interlock in Atlanta for AMX Logistics

by John Nelson

ATLANTA — Foundry Commercial has arranged a 20,299-square-foot office lease at Interlock, a mixed-use development in Atlanta’s West Midtown district, for AMX Logistics, an asset trucking and third-party logistics firm. The new corporate headquarters lease is expected to create 200 net new jobs for AMX by the end of 2026. Phil Costabile and Lawrence Gellerstedt IV of Foundry represented the tenant in the lease transaction. Aileen Almassy and Will Porter of Partners Real Estate represented the landlord, SJC Ventures.

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AcquisitionsGeorgiaMixed-UseRestaurantRetailSoutheast

Westwood Financial Buys Glenridge Springs Retail Center in Sandy Springs, Georgia

by John Nelson

SANDY SPRINGS, GA. — Los Angeles-based Westwood Financial has purchased the retail component of Glenridge Square, a mixed-use development located at 5610 Glenridge Drive in Sandy Springs. The live-work-play property is situated adjacent to I-285 in Atlanta’s Central Perimeter submarket. The seller and sales price were not disclosed. Glenridge Square features 20,001 square feet of ground-level retail space that was 91 percent leased at the time of sale to tenants including Qdoba, Firehouse Subs, Blue Moon Pizza, Sushi Nami, Taziki’s Mediterranean, DaVinci’s Donuts, Venus Nail Lounge and Beauty Enhanced. The property also includes 168 apartments and 80,000 square feet of office space leased to tenants including Go2Foods’ headquarters (roughly 800 employees) and Haverty’s (about 3,000 employees). The offices and apartments were not included in the sale.

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AcquisitionsFloridaGeorgiaMultifamilyNorth CarolinaNortheastOregonPennsylvaniaSoutheastStudent HousingTexasTop StoriesVirginiaWestern

Morgan Stanley, GSA Acquire Eight-Property Student Housing Portfolio Valued at $1B

by Kristin Harlow

NEW YORK CITY — Morgan Stanley Real Estate Investing (MSREI) and Global Student Accommodation (GSA) have acquired a portfolio of eight student housing assets in Tier 1 U.S. university markets from a joint venture between a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) and Landmark Properties. The transaction is valued at more than $1 billion. The properties are located across seven states and offer a mix of cottage-style, high-rise and mid-rise formats. The 6,200-bed portfolio is nearly fully leased. Global student housing operator Yugo will manage and rebrand the newly acquired assets. The assets in the sold portfolio include: The acquisition marks the partnership’s entrance into new markets in Virginia, Georgia and Pennsylvania, while expanding its presence in Texas, Florida, Oregon and North Carolina. Through its partnership, MSREI and GSA now own nearly 24,000 student housing beds across 50 properties in 23 states. “This acquisition is testament to the depth of our global teams, our access to unique opportunities and the strength of our institutional relationships in the United States and globally. An off-market portfolio of this size and quality is rare, and demonstrates our experience and expertise in the student housing market,” says Nicholas Porter, CEO at …

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Village at Westfork
AcquisitionsGeorgiaRetailSoutheast

Columbia Properties Acquires 75,947 SF Grocery-Anchored Shopping Center in Metro Atlanta

by Abby Cox

LITHIA SPRINGS, GA. — Columbia Properties has acquired Village at Westfork, a 75,947-square-foot, grocery-anchored shopping center located in Lithia Springs, roughly 20 miles west of downtown Atlanta. Jim Hamilton, Brad Buchanan, Andrew Kahn and Charlie Merrigan of JLL represented the seller, KPR Centers, in the transaction. The purchase price was $14.2 million. Built in 1994, Village at Westfork comprises 12 tenant suites and was fully leased at the time of sale. A 54,322-square-foot Kroger anchors the property, which also houses JPMorgan Chase, The UPS Store, H&R Block and Cricket Wireless.

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Mill-Grove-Vista
Company NewsDevelopmentGeorgiaLoansMultifamilySoutheast

Vista Residential, Virtus Secure Construction Financing for 304-Unit Apartment Development in Metro Atlanta

by Abby Cox

MABLETON, GA. — A partnership between Vista Residential Partners and Virtus Real Estate Group has secured construction financing for Mill Grove Vista, a 304-unit, garden-style apartment development located in Mableton, approximately 14 miles west of downtown Atlanta in Cobb County. The multifamily community will sit at the heart of a future 23.6-acre mixed-use development that will feature a civic building, townhomes and retail space, along with Mill Grove Vista. Nationwide Mutual Insurance Co. will provide financing for the project. Apex Multifamily Construction, a Vista affiliate, will serve as general contractor. Mill Grove Vista will feature a mix of one-, two- and three-bedroom apartments across 12 residential buildings. The average unit size will total roughly 917 square feet. Amenities at the community will include a fitness center, resort-style swimming pool, clubroom with a coffee bar, coworking spaces, parcel room, dog park and a playground. Vertical construction on Mill Grove Vista is anticipated to start early next year, with completion scheduled for the end of 2027.

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4205 River Green
GeorgiaLeasing ActivityOfficeSoutheast

Colliers Arranges 125,500 SF Office Headquarters Lease Renewal in Duluth, Georgia for AGCO

by Abby Cox

DULUTH, GA. — Colliers has arranged a 125,500-square-foot office headquarters lease renewal in Duluth for AGCO Corp., a company that designs, manufactures and distributes agricultural machinery and precision technology. The two-story corporate campus is located at 4205 River Green Parkway in metro Atlanta’s Gwinnett County and acts as the company’s global headquarters. Deming Fish, Emily Richardson and Mark Maggard of Colliers represented the landlord, Orion Properties, in the lease negotiations.

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1072-West-Peachtree-Atlanta
DevelopmentGeorgiaMixed-UseSoutheastTop Stories

Rockefeller Group Tops Out 60-Story Mixed-Use Building in Midtown Atlanta

by Taylor Williams

ATLANTA — New York City-based developer Rockefeller Group has topped out 1072 West Peachtree, a 60-story mixed-use building in Midtown Atlanta. According to the development team, upon completion, which is set for next spring, 1072 West Peachtree will be the tallest building constructed in Atlanta in the past three decades. Plans for the building currently call for 224,000 square feet of office space across eight floors, 357 multifamily units and 6,300 square feet of ground-floor retail and restaurant space. In addition to its office and residential components, the building will offer roughly 43,000 square feet of indoor and outdoor amenities. Specific amenities will include a resort-style athletic club with strength and cardio training areas and full-service locker rooms, as well as wellness-focused offerings such as private spa treatment rooms, sauna rooms, frost lockers and recovery spaces. In addition, the club will also include an indoor Pilates studio, a private training studio and a pickleball court. Lastly, 1072 West Peachtree will feature the Sky Garden. According to the developer, The Sky Garden will be Midtown Atlanta’s largest outdoor deck, designed with seating areas for collaboration or relaxation, as well as a lawn FOR gathering, gaming and hosting events. Turner Construction is …

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GeorgiaIndustrialMarket ReportsSoutheastSoutheast Market Reports

Atlanta Industrial Is Cooling and Consolidating, But Is Still Strategically Strong

by John Nelson

After several years of breakneck growth, Atlanta’s industrial sector has clearly shifted into a mid-cycle recalibration. Vacancy has climbed to 8.4 percent, well above the 10-year average of 5.8 percent, as a record wave of big-box deliveries collides with softer demand.  Twelve-month net absorption turned negative for the first time since 2011, dropping 453,000 square feet despite 14.9 million square feet of new deliveries over the past year. Developers and tenants alike are adjusting, but the region’s logistics advantages and diverse economy keep long-term fundamentals intact. Supply and demand The pandemic-era surge of speculative construction has decisively slowed. Construction starts have fallen roughly 70 percent from the five-year average, leaving 16.3 million square feet under construction, with just 25 percent available — down from 60 percent a year ago. Most large projects are now data centers, such as a 1.5 million-square-foot QTS facility in Fayette/Coweta County and a 1.2 million-square-foot Microsoft data center near Hartsfield-Jackson Atlanta International Airport. Vacancy is rising fastest in submarkets that saw heavy new supply. Kennesaw/Acworth, for example, has added over 9 million square feet since 2023 and now posts about 13 percent availability for buildings sized 200,000 square feet and larger. Sublease availability has grown …

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