DORAVILLE, GA. — Berkadia has secured $18.5 million in acquisition financing for Alturas Embry Hills, a 140-unit, garden-style multifamily property in Doraville. Josh Finley of Berkadia’s Atlanta office originated the Freddie Mac loan on behalf of the buyer, New York-based Quad Property Group. The seller was Liquid Capital based out of New York. The 10-year loan features five years of interest-only payments, 30-year amortization schedule and a 75 percent loan-to-value ratio. Upon acquiring the property, Quad Property Group plans to spend over $1 million on interior and exterior upgrades. Located at 3544 Old Chamblee Tucker Road, Alturas Embry Hills was originally built in 1966. It has since been rebranded as Summit Embry Hills. The apartment complex underwent exterior renovations between 2018 to 2020 and features a mix of one-, two- and three-bedroom floorplans. The property has access to nearby retail shops and is close to Interstate 285. The property is currently 97 percent occupied.
ALPHARETTA, GA. — Skyline Seven Real Estate has arranged the $12.4 million sale of Rivermont Square, a 102,800-square-foot, Goodwill-anchored shopping center in the northern Atlanta suburb of Alpharetta. Kenny Holzer, Elliott Kyle and Chase Murphy of Atlanta-based Skyline Seven represented the undisclosed seller in the transaction. Wes Allen with Pinnacle Leasing & Management LLC represented the undisclosed buyer. Rivermont Square includes a freestanding Starbucks, as well as a vacant outparcel previously occupied by Verizon Wireless. The 12-plus acre property is located at 8560 and 8514 Holcomb Bridge Road and is shadow-anchored by Kroger.
SAVANNAH, GA. — CBRE has secured a 499,200-square-foot industrial lease with East Coast Warehouse at 521 Morgan Lakes Blvd. in Savannah. Bill Waxman, Chris Dempsey and Blaine Kelley of CBRE represented the tenant in the lease transaction. CBRE’s Bill Sparks represented the landlord, Principal Financial. There are currently no other tenants in the building. New Jersey-based East Coast Warehouse provides temperature-controlled logistics services to the food and beverage industry. East Coast Warehouse has also expanded in other port markets along the East Coast, such as the Ports of New York/New Jersey, Philadelphia and Baltimore. The industrial facility totals nearly 1 million square feet and features 36-foot clear heights, LED lighting and 220 dock doors. It is located close to Interstates 95 and 16 and the Port of Savannah.
ACWORTH, GA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $11.4 million sale of Cherokee Commons Shopping Center, a 103,719-square-foot, Kroger-anchored retail property located 33 miles north of Atlanta in Acworth. Built in 1986, the center was 91 percent leased to tenants including Pet Supplies Plus and CosmoProf at the time of sale. Kyle Stonis and Pierce Mayson of SRS represented the seller, Collett Capital, in the disposition of the property to Bandera Ventures. The buyer was self-represented in the transaction.
CHICAGO AND NEW YORK CITY — Brennan Investment Group and Arch Street Capital Advisors have sold a four-building industrial portfolio with a combined square footage of 2.3 million square feet. The properties in the portfolio are located in Bellingham, Mass.; Lawrenceville, Ga.; Butner, N.C.; and Frederick, Md. The buyers, two unnamed, privately held institutional real estate investment firms, purchased the properties for an undisclosed price. BlueLinx Corp., a distributor of building and industrial products in the United States, is the sole occupant of all four facilities. The company operates through a broad network of distribution centers and is based in Atlanta. Brennan Investment and Arch Street originally acquired the portfolio in a joint venture in 2018. The firms stated they are seeking net-leased properties in their joint investment vehicle USIPA III. Brennan Investment is a Chicago-based, private real estate investment firm that acquires, develops and operates industrial properties. Arch Street Capital Advisors is a full-service real estate investment and advisory firm based in New York City.
TUCKER, GA. — JLL Capital Markets has brokered the $20 million sale of Cofer Crossing, a 136,139-square-foot shopping center located 20 miles outside of Atlanta in Tucker. Kroger and HomeGoods anchor the fully leased center. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller, a partnership between Site Centers Corp. and Madison International Realty. A private buyer based in Ontario, Calif., acquired the asset in a 1031 exchange. Hanley Investment Group’s Ed Hanley and Kevin Fryman, along with ParaSell Inc., represented the buyer in the transaction.
BOISE, IDAHO AND SAVANNAH, GA. — Madison Capital Group LLC has acquired two vacant Sears boxes located adjacent to active shopping malls, the Boise Town Square in Boise and the Oglethorpe Mall in Savannah. The seller and sales price were not disclosed. Madison Capital Group plans to redevelop each box into a mixed-use development that could include residential housing and retail. Madison Capital Group is based in Charlotte and focuses on investing in multifamily and self-storage properties.
MARIETTA, GA. — Vista Realty Partners has sold Marketplace Vista Apartments, a 298-unit luxury multifamily community in Marietta. The buyer, Ohio-based White Oak Partners, purchased the property for $87 million. White Oak Partners also has sold two apartment communities in metro Atlanta recently. The Marketplace Vista Apartments is the residential component of Marketplace at Terrell Mill, a mixed-use development that Eden Rock Real Estate Partners and Connolly Development are co-developing. Marketplace Vista Apartments is located at 1486 Terrell Mill Road SE, close to Interstate 75 and Truist Park, the home ballpark of the Atlanta Braves. Marketplace Vista’s units have been open since August 2020 and were 82 percent occupied at the time of sale. Construction on Marketplace at Terrell Mill started in 2018 and is still currently under development. At full buildout, the tenants at Marketplace at Terrell Mill will include Chick-fil-A, Wendy’s, Panera Bread, Regions Bank, Los Abuelos, Lush Nail Salon, Extra Space Storage and a Kroger store. The new grocery store is a replacement of a nearby Kroger situated a half-mile north along Powers Ferry Road. Synovus Bank provided an undisclosed amount of construction financing for Marketplace Vista. Nationwide Insurance Co., The Radco Cos., Blue Vista Asset Management …
TUCKER AND DULUTH, GA. — Cushman & Wakefield has arranged the sale of Carrington Chase and Carrington Court, two apartment communities located in the Atlanta suburbs of Tucker and Duluth, respectively. Carrington Chase has a total of 410 units and is located at 6280 S. Norcross Tucker Road in Tucker. Carrington Court has a total of 446 units and is located at 3800 Club Drive in Duluth. Both apartments offer community amenities such as car care centers, cyber cafés, fitness centers, grilling/picnic areas, laundry facilities, business centers, lounges, soccer fields, sports courts and swimming pools with fountains. Carrington Chase was 97 percent occupied at the time of sale, and Carrington Court was 96 percent occupied. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the seller, Ohio-based White Oak Partners, in the transaction. Charleston-based Greystar Real Estate Partners LLC was the buyer of the two properties. The sales price was not disclosed.
ATLANTA AND NASHVILLE, TENN. — Piedmont Healthcare has signed a purchase agreement with HCA Healthcare Inc. (NYSE: HCA) for the acquisition of four Georgia hospitals and one clinic for a purchase price of $950 million. The two parties are targeting a closing date of July 31. Pending regulatory approval, Piedmont will acquire the 310-bed Eastside Medical Center in Snellville and the 119-bed Cartersville Medical Center in Cartersville, which are both located in metro Atlanta. The acquisition will also include three facilities in Macon: the 310-bed Coliseum Medical Center, the 103-bed Coliseum Northside and the 40-bed Coliseum Center for Behavioral Health. With the acquisition, Piedmont Healthcare is continuing to expand its footprint in metro Atlanta as well as strengthen its portfolio of best-in-class hospitals. Nonprofit watchdog organization Leapfrog Group rated HCA’s Coliseum Medical Centers, Coliseum Northside and Cartersville Medical Center as “A” hospitals in its spring 2021 Leapfrog Hospital Safety Grades report released last week. “HCA Healthcare has instilled a high standard of care into these facilities, and we are proud that they have trusted Piedmont to continue this legacy,” says Kevin Brown, president and CEO of Piedmont Healthcare. For HCA, the transaction increases the Nashville-based company’s financial flexibility for investments …