HINESVILLE, GA. — Branch Properties has acquired 9.7 acres for Flemington Village, a 57,851-square-foot shopping center to be developed in Hinesville, approximately 40 miles southwest of Savannah. A 46,791-square-foot Publix will anchor the center, which is scheduled for completion in the third quarter of 2025. The property will also feature 11,060 square feet of inline retail space and an outparcel.
As a bridge lender across the full spectrum of seniors housing, Live Oak Bank has been able to capitalize on the limited liquidity in today’s market that has resulted in stalled transactions and refinancing challenges in this niche property sector. “Trust me, I have a certain advantage right now with the lack of lenders [active in the space], and I enjoy that because it enables me to be very strategic on relationships and the people that I choose to partner with and grow. But having liquidity back in our market is necessary for a healthy seniors sector,” believes Chad Borst, managing director of seniors housing at Live Oak Bank, headquartered in Wilmington, North Carolina. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Borst would like to see banks that moved to the sidelines in recent years due to the disruption in the capital markets return to the playing field. “I want the permanent financing market to open up more broadly. I want other banks to come back because it will help the overall health of our …
BROOKHAVEN, GA. — JLL has brokered the sale of Brookhaven Station, a 44,966-square-foot retail center located in the Atlanta suburb of Brookhaven. SITE Centers acquired the property from Hendon Properties for an undisclosed price. Originally built in 1985, Brookhaven Station was renovated between 2022 and 2023. Tenants at the property include Chick-fil-A, Fox Bros. Bar-B-Q, Chop’t and Mellow Mushroom. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller in the transaction.
ROSWELL, GA. — Cushman & Wakefield has arranged a 55,869-square-foot lease renewal at Mansell Overlook, an office park located in Roswell, roughly 25 miles north of downtown Atlanta. Annie Gomez and Jon Mayeske of Cushman & Wakefield represented the tenant, SiteOne Landscape Supply Inc., in the lease negotiations. An entity doing business as Sun Belt Office I LLC is the landlord of Mansell Overlook, which comprises four buildings of Class A office space and is situated on 67 acres. Amenities at the property include outdoor seating, walking paths, a fitness center and a conference center.
ATLANTA — Staffing, particularly at the regional director level, kicked off the discussion at the “Best in Class Operators’ Blueprints for Success in a Challenging Market” panel at the 11th annual InterFace Seniors Housing Southeast conference on Wednesday, Aug. 28 in Atlanta. Pilar Carvajal, founder and CEO of Innovation Senior Living, said her firm is focused on developing from within and rewarding those who have worked hard for the company. “We are keeping a very close focus internally. We think that’s where we will find our talent as we grow,” said Carvajal. Examples include developing the resident care director into an executive director or the executive director into a senior executive director who oversees more than one property. Joining Carvajal on the panel were Lindsey Hacker, executive vice president and CFO of Distinctive Living; Kristin Kutac Ward, co-CEO of AgeWell Solvere Living; Lou Maranto, senior vice president of sales for Discovery Senior Living; and Todd Filippone, president of SRI Management. Charles Mann, chief sales officer and co-founder of Accushield, a provider of security and entry management software for the industry, moderated the discussion. InterFace Conference Group, a division of France Media, hosted the event at the Westin Buckhead. “We’re constantly looking …
ATLANTA — RBH Group plans to develop Teachers Village Atlanta, a 34-story workforce housing tower in downtown Atlanta’s Fairlie-Poplar neighborhood, according to multiple media outlets including Fox 5. The New Jersey-based developer received approval last week from the Development Authority of Fulton County to issue up to $370 million in tax-exempt bonds for the redevelopment of 98 Cone St. into the tower, according to The Atlanta Journal-Constitution. Situated near Centennial Olympic Park and Georgia State University, the development will span 457,584 square feet and include 227 independent living units, 197 rent-restricted apartments, 22,995 square feet of retail space, 371 garage parking spaces and 21,484 square feet of amenities and additional shared rooftop space, according to the project page on RBH Group’s website. 99.5 WSB reports that RBH Group plans to break ground on Teachers Village Atlanta in 2025, and Fox 5 reports that the tower will be delivered in 2027. The developer has previously delivered similar workforce housing developments such as Teachers Village Newark, Teachers Village Hartford and Teachers Village Chicago.
AUSTELL, GA. — Hendon Properties has acquired East West Shops, an 85,565-square-foot shopping center located in Austell, a northwest suburb of Atlanta in Cobb County. Concorde Group Holdings sold the property for $15.2 million. OneLife Fitness, Starbucks Coffee and Urgent Team anchor the center, which was 96 percent occupied at the time of sale. Brad Peterson, Scott Israel and Tommy Isola of Colliers brokered the sale on behalf of Concorde Group.
ATLANTA — Andy Lundsberg and Michael Wess of Bull Realty have brokered the sale of a former Ramada Plaza hotel located at 450 Hank Aaron Drive in Atlanta’s Summerhill neighborhood. The Atlanta Housing Authority (AHA) purchased the 406-room, 246,000-square-foot hotel for nearly $17.5 million. AHA plans to convert the property into an affordable housing community and recently issued a request for proposal (RFP) from private developers. Current permits for the 3.3-acre site allow for the development of 260 apartments with 33,000 square feet of retail space.
NEWNAN, GA. — Colliers has arranged a 10-year, full-building lease at Scout 85 Logistics, a 215,822-square-foot industrial building situated within Coweta Industrial Park in Newnan, a southwest suburb of Atlanta. Andrea Hopper and Jimmy Cohoat of Colliers’ Indianapolis office, along with Scott Plomgren of the firm’s Atlanta office, represented the tenant, Integrated Distribution Services (IDS), in the lease transaction. The landlord is Miami-based Scout Cold Logistics. Situated at 495 Coweta Industrial Parkway, the property offers proximity to the CSX Palmetto Industrial Facility and Hartsfield-Jackson Atlanta International Airport for IDS, a third-party logistics provider.
By John Nelson Seniors housing is a sector that has a long track record of carefully balancing care for its residents with the fundamentals of real estate, namely the return on investment in the form of monthly rental rates. Equity and debt partners have appreciated the sector as an investment vehicle for decades, but are now fully grasping how important operators are to realizing those gains. This was the topic of discussion among the “power panel” of executives at InterFace Seniors Southeast, an annual conference that was held at Westin Buckhead Atlanta on Wednesday, Aug. 28. Panelists were asked by moderator John Lariccia, CEO and founder of WelcomeHome Software, to summarize the state of the seniors housing industry in a single word. Doug Schiffer, president and chief operating officer of Allegro Senior Living, selected “encouraged” as the best term to describe the current mood of the sector. “The encouragement comes into the fact that both versions of capital, whether it was equity or debt, have actually recognized now the importance of the operator,” said Schiffer. “For quite some time, it was about the importance of the real estate and how the buildings were designed, and then ‘we’ll go find an …