Georgia

Hunt Provides Three Refinancing Loans Totaling $45.5M for Multifamily Portfolio in Alabama, Georgia

by Alex Tostado June 10, 2020

NEW YORK CITY — Hunt Real Estate Capital has provided three Fannie Mae refinancing loans totaling $45.5 million for three multifamily communities comprising 620 units in Alabama and Georgia. The properties are Tapestry on Vaughn in Montgomery and Trilliam Luxury Apartment Homes in Clanton, Ala.; and Pavilion at Plantation Way in Macon, Ga. Chad Hagwood of New York City-based Hunt Real Estate originated the loan on behalf of the borrower, EBSCO Income Properties LLC. All three loans feature 12-year terms and fixed interest rates with four years of interest-only payments. Tapestry on Vaughn is a 252-unit garden-style community that was built in 1994. The community offers one- through three-bedroom floor plans. Communal amenities include a picnic area, fitness center, pool and a playground. Trilliam Luxury Apartments is a 128-unit affordable housing community that was built in 2002. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a clubhouse, resident lounge, storage space, fitness center, pool and a playground. Pavilion at Plantation Way is a 240-unit property that was built in 2009. The community offers one- through three-bedroom floor plans. Communal amenities include a pool, media center, movie theater, fitness center and a business center.

June 10, 2020

Georgia Retail Southeast

Pandemic’s Impact on Retail Imports Easing, But Volume is Still Well Below Last Year, Says NRF

by Alex Tostado June 9, 2020

WASHINGTON, D.C. — COVID-19’s impact on U.S. retail imports is easing, beating prior forecasts, says the National Retail Federation (NRF). The NRF and partner Hackett Associates released their Global Port Tracker on Monday, which showed that ports handled just over 1.6 million 20-foot equivalent units (TEUs), beating expectations from one month ago. “Imports are erratic, with one month up and the next down,” says Ben Hackett, founder of Hackett Associates. “Getting 40 million people back to work will take time, especially with many fearful of catching the virus and staying home. That makes a rapid return to an economic boom unlikely.” Even with an immediate boom delayed, Jonathan Gold, vice president for supply chain and customs policy for NRF, points out that the April numbers show that the economy is recovering faster than what was projected just one month ago. The volume of 1.6 million TEUs in April was down 7.8 percent from April 2019, but it was up 17 percent from March 2020. NRF’s forecast for April showed 1.5 million TEUs coming through the ports. “It may still be too soon to say but we’ll take that as a sign that the situation could be slowly starting to improve,” …

June 9, 2020

Georgia Leasing Activity Office Southeast

Law Firm Signs 48,000 SF Office Lease at Bank of America Plaza in Downtown Atlanta

by Alex Tostado June 9, 2020

ATLANTA — Law firm Lewis Brisbois has signed a 48,000-square-foot office lease at Bank of America Plaza in downtown Atlanta. The company will occupy the 46th and 47th floors beginning in April 2021. Lewis Brubois, which was found in Los Angeles in 1979, is relocating its Atlanta office from 1180 Peachtree St. The landlord of Bank of America Plaza, Shorenstein Properties, recently completed a $10 million renovation to the building’s west wing that delivered modern amenities; workspace; and Marketplace 600, a 17,000-square-foot food hall. Other amenities include the 17,000-square-foot RPM Health Club & Spa, conference facilities and a Starbucks in the main lobby. Jeff Keppen and Nicole Goldsmith of CBRE represented the landlord in the transaction. Jonathan Larsen, Rick Nash, Chandler Larsen and Molly Millard of Avison Young represented the tenant.

June 9, 2020

Development Georgia Retail Southeast

Branch Properties to Develop 83,000 SF Publix-Anchored Shopping Center in Metro Atlanta

by Alex Tostado June 8, 2020

TUCKER, GA. — Branch Properties will develop Hugh Howell, an 83,000-square-foot, Publix-anchored shopping center in Tucker. Publix will occupy 48,000 square feet, and Branch Properties will develop an additional 35,000 square feet of space across three buildings and two outparcels. The $19 million project will span 14 acres at the northeast corner of Hugh Howell Road and Mountain Industrial Boulevard, 15 miles northeast of downtown Atlanta. Publix will relocate from an existing site less than one mile away. Phillips Partnership is the architect of the project, and Contineo Group is the civil engineer. Branch Properties has not yet determined a general contractor. Construction is expected to be complete in fall 2021.

June 8, 2020

Development Georgia Retail Southeast

Branch Properties to Develop $29M Publix-Anchored Shopping Center in Metro Atlanta

by Alex Tostado June 5, 2020

DUNWOODY, GA. — Branch Properties will develop Perimeter Marketplace, a planned 39,150-square-foot shopping center in Dunwoody. A 25,147-square-foot Publix will anchor the property. The developer expects to deliver the project in fall 2021. The 10-acre plot is located just north of Perimeter Mall, 17 miles north of downtown Atlanta. Young Contracting is the general contractor for the project, Phillips Partnership is the architect and Contineo Group is the civil engineer.

June 5, 2020

Acquisitions Georgia Industrial Southeast

JLL Arranges $19.6M Sale of Distribution Facility Near Port of Savannah

by Alex Tostado June 5, 2020

PORT WENTWORTH, GA. — JLL has arranged the $19.6 million sale of a 281,467-square-foot distribution center in Port Wentworth. The property is situated at 110 Little Hearst Parkway, within Savannah River International Trade Park and six miles from the Port of Savannah. The asset was delivered in 2019. Patrick Nally, Trent Agnew, Matt Wirth, Britton Burdette, Dennis Mitchell and Pete Pittroff of JLL represented the buyer, Exeter Property Group, in the transaction. The seller was not disclosed.

June 5, 2020

Acquisitions Georgia Industrial Southeast

Transwestern Investment Group Acquires 238,533 SF Industrial Property in Metro Atlanta

by Alex Tostado June 3, 2020

FAIRBURN, GA. — Transwestern Investment Group has acquired Bohannon Logistics Center, a 238,533-square-foot industrial building in Fairburn. The seller, DHL Supply Chain, delivered the asset earlier this year. The property is situated at 5002 Bohannon Road, 13 miles southwest of Hartsfield-Jackson Atlanta International Airport and 22 miles southwest of downtown Atlanta. The building features 47 dock doors, 32-foot clear heights, 130 auto parking spaces, 54 trailer parking spaces and a 185-foot concrete truck court. Transwestern Real Estate Services will provide property management services. Reed Davis and Bob Currie of JLL are handling leasing efforts. Mike Chambers and Bill Kee of NAI Brannen Goddard represented the seller in the transaction. The sales price was not disclosed.

June 3, 2020

Affordable Housing Development Georgia Loans Multifamily Southeast

CIG Capital Provides $125M Construction Loan for Affordable Housing Community in West Point, Georgia

by Alex Tostado June 1, 2020

WEST POINT, GA. — CIG Capital has provided a $125 million construction loan for The Villages at West Point, a planned 624-unit affordable housing community in West Point. The Villages will sit on 70 acres within one mile from West Point Lake and Campground. CIG Capital provided the loan to the development team, which includes Utah-based American Development Corp., which specializes in developing multifamily charter schools. The Villages will offer onsite parking facilities for residents’ boats, recreational vehicles and camp trailers. The developers plan to hold a ribbon-cutting ceremony in late August. West Point is situated near the Georgia-Alabama border along Interstate 85.

June 1, 2020

Development Georgia Industrial Southeast

Olympic Steel Opens 120,000 SF Industrial Facility in Metro Atlanta

by Alex Tostado June 1, 2020

BUFORD, GA. — Olympic Steel Inc. has opened a 120,000-square-foot metal processing facility in Buford. Olympic Steel will use the facility as its flat rolled fabrication hub. From the Buford facility, the metal will be moved to a property in Winder, Ga., where it will undergo first-stage metal processing and distribution. The Buford property is located at 3525 Gravel Springs Road, two miles from Interstate 85 and 37 miles northeast of downtown Atlanta. Olympic Steel plans to host an opening event and offer tours of the new facility later this year.

June 1, 2020

Acquisitions Georgia Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Closes $44.3M Acquisition Financing for Multifamily Community in Gainesville, Georgia

by Alex Tostado May 29, 2020

GAINESVILLE, GA. — Walker & Dunlop provided a $44.3 million Freddie Mac acquisition loan for Century New Holland, a 348-unit multifamily community in Gainesville. The property, which was built in 2018, offers one-, two- and three-bedroom floor plans. Communal amenities include a dog park, car care detailing area, bocce ball court, picnic areas and grilling areas. The asset is located at 1465 Jesse Jewell Pasrkway NE, two miles north of downtown Gainesville and 57 miles northeast of downtown Atlanta. Centennial Holding Co. acquired the property from the undisclosed seller. Brian Moulder, Chris Goldsmith and Sean Williams of Walker & Dunlop represented the buyer in the sale transaction. Taylor Williams of Walker & Dunlop originated the fixed-rate loan, which features five years of interest-only payments.

May 29, 2020

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