ATLANTA AND COLUMBIA, S.C. — Georgia Gov. Brian Kemp and South Carolina Gov. Henry McMaster each held press conferences Monday afternoon to announce how their respective states will begin reopening certain aspects of their economies. Kemp said several retail categories in Georgia can begin reopening on Friday, April 24. The types of businesses include gyms, fitness centers, bowling alleys, body art studios, barbers, hair and nail salons, estheticians and massage therapists. Theaters and restaurants can reopen beginning on Monday, April 27. The governor’s mandate states that local ordinances cannot block the reopenings. Kemp issued a Stay-at-Home order for all Georgians that will expire April 30 and a public health emergency that will expire May 13. As of noon Monday, Kemp said there were 18,947 COVID-19 cases in Georgia with 733 deaths. McMaster said some retailers in South Carolina, such as those selling furniture, books, music, flowers, clothing and accessories, as well as department stores, sporting goods stores and flea markets, can begin reopening immediately at 20 percent capacity, or five people per 1,000 square feet. Additionally, South Carolina beaches can reopen today at noon. As of Monday afternoon, South Carolina had 4,377 confirmed cases of COVID-19 with 120 deaths.
ATLANTA AND CALABASAS HILLS, CALIF. — Roark Capital Group, a private equity firm based in Atlanta, has invested $200 million in The Cheesecake Factory Inc. (Nasdaq: CAKE), owner and operator of the chain of restaurants of the same name. The Calabasas Hills-based company also owns and operates the North Italia chain, as well as a collection of restaurants within the Fox Restaurant Concepts subsidiary. The funds will be used to immediately help The Cheesecake Factory navigate the COVID-19 pandemic, in which its dine-in service has been closed. The company, which has been handling takeout orders and deliveries through the DoorDash app, preliminarily reported its off-premise sales in first-quarter 2020 increased by 85 percent from the previous quarter. Specific details of Roark Capital’s capital infusion were not disclosed, but David Overton, chairman and CEO of The Cheesecake Factory, says the investment will improve the company’s liquidity. “This transaction not only gets our affected staff members back to work as soon as practicable, but also importantly solidifies our ability to manage the business for the long-term for all of our stakeholders once we emerge on the other side of this crisis,” says Overton. “Moreover, Roark’s investment underscores the strength of our brands, …
JONESBORO, GA. — Franklin Street has arranged the $17.3 million sale of Chase Village Apartments, a 168-unit multifamily community in Jonesboro. The property offers two- and three-bedroom floor plans that were 94 percent occupied at the time of sale. The community, which was originally built in 1986, features communal amenities such as a pool, playground and a dog park. Chase Village is situated at 100 Chase Village Drive, 15 miles south of downtown Atlanta. Chad DeFoor, Jake Reid, Dan Phelan, Royce Baptist, Alex Croy and Roger Schoerner of Franklin Street represented both the seller, Peak Capital Partners, and the buyer, Oak Residential Partners, in the transaction.
MELVILLE, N.Y. — A&G Real Estate Partners has negotiated the sale of the leasehold interest in 10 grocery stores previously occupied by organic specialty grocery chain Earth Fare. The grocer filed for Chapter 11 bankruptcy reorganization in early February and the final leasehold sale closed Friday, April 10. The 10 stores averaged 26,000 square feet. Southeastern Grocers’ Winn-Dixie chain acquired four stores in Boynton Beach, Jacksonville, Lakewood Ranch and Viera, Fla. Austin, Texas-based Whole Foods Markets acquired two stores in south Asheville, N.C., and Chattanooga, Tenn, and Aldi acquired one store in Tallahassee, Fla. An investor group that includes one of Earth Fare’s founders and several of the chain’s former executives acquired three stores, which are located in Athens, Ga.; Roanoke, Va.; and Asheville. The group also acquired Earth Fare’s trade name and other intellectual property. Joseph McKeska led an A&G team that represented Earth Fare in the transactions. The sales contributed a total of more than $6 million to the estate of Earth Fare. A&G, an asset disposition advisory firm based in Melville, also negotiated the lease terminations of nine Earth Fare locations. The agreements with landlords were in Gainesville, Ocala and Palm Beach Gardens, Fla.; Columbia and Rock Hill, S.C.; …
LILBURN, GA. — JLL has arranged the sale of Five Forks Corner, an 88,646-square-foot, Publix-anchored shopping center in Lilburn. The property was 89 percent leased at the time of sale to tenants including Pak Mail, Marco’s Pizza, Fitness 19, Mathnasium, Farmers Insurance, Sun City Tanning and Lush Nail Spa. The shopping center is situated at 4045 Five Forks Trickum Road SW, 24 miles northeast of downtown Atlanta in Gwinnett County. Jim Hamilton, Brad Buchanan and Mike Allison of JLL represented the seller, DLC Management Corp., in the transaction. Atlanta-based Branch Properties LLC purchased the asset for an undisclosed amount.
ATLANTA — The State of Georgia has signed a contract with Pacific Architects and Engineers (PAE) to build a 200-bed, alternate care facility at Georgia World Congress Center (GWCC) in downtown Atlanta for coronavirus (COVID-19) patients, Georgia Gov. Brian Kemp announced Sunday. Starting immediately, the Georgia National Guard, Georgia Emergency Management and Homeland Security Agency, Department of Community Health, Department of Public Health and contractors will begin to prepare GWCC to house and treat patients with mild to moderate illness levels excluding ventilator support. Nearby Grady Memorial Hospital will lend additional support to the center. As of Monday, April 13, there have been 10,726 confirmed cases in Georgia and 1,422 in Fulton County, according to Johns Hopkins University (JHU). HealthData.org projects the peak date for COVID-19 cases in the state will be Sunday, April 26.
ATLANTA — The 32nd annual Hunter Hotel Investment Conference has been canceled for 2020 due to the coronavirus (COVID-19) pandemic. The conference, which brings together hotel investors, managers, developers, lenders and brokers, was originally scheduled for March 18-20 in downtown Atlanta, but was postponed indefinitely March 12 by Hunter Hotel Advisors. After much deliberation, the Atlanta-based organization decided to outright cancel the 2020 conference. “Through continually following the published guidance issued by the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and our local health officials we simply do not want to risk the health of any of our attendees or the people with whom they come into contact,” according to a statement that appears on the Hunter Hotel Conference website. In 2019, the conference attracted more than 1,850 attendees from across the Southeast. As of this writing, there are 467,184 confirmed cases of COVID-19 in the United States, according to Johns Hopkins University (JHU). There are 1,336 confirmed cases in Fulton County, where the conference typically takes place. The next Hunter Hotel Investment Conference is now scheduled for March 9-11, 2021.
ATLANTA — Domain Capital Advisors and property management firm Simpson Housing have formed a joint venture with PFA Pension, an insurance company headquartered in Copenhagen, Denmark. PFA acquired a 49 percent equity interest in a 13-asset, Class A multifamily portfolio for an aggregate value of $1.05 billion. Simpson Housing will own the remaining 51 percent, while Domain Capital Advisors will provide oversight and asset management of the newly formed REIT joint venture. Simpson Housing formerly owned 100 percent of the 3,487-unit portfolio, which is located across multiple urban and suburban U.S. markets including Austin, Charlotte, Denver, Houston, Nashville, Phoenix, Portland and Seattle. The portfolio was 95 percent leased at the time of closing, and features both newly built and refurbished assets that are approximately six years old. “We are excited about our new relationship with PFA Pension and look forward to growing our relationship with them through further acquisitions,” says Patrick Leardo, executive managing director and chief executive officer of Domain Capital Group. “Our team is also proud to continue its longstanding partnership with Simpson Housing. We have managed equity investments in their portfolio for more than 10 years, while providing asset management and advisory support to our operating partner.” Simpson Housing …
MORROW, GA. — XPO Logistics, a transportation and logistics provider, has renewed its 254,358-square-foot industrial lease within Mt. Zion Industrial Center in Morrow. The property offers 72 dock doors, two drive-in doors, 22-foot clear heights, a five-inch concrete floor, parking for 110 trailers and a new roof. Woodmont Industrial Partners owns the property, which is situated at 1791 Mount Zion Road, nine miles southeast of Hartsfield-Jackson Atlanta International Airport and 15 miles south of downtown Atlanta. Brian Camp and Max Ellis of Colliers International represented the landlord in the transaction. Dan Rose of Real Estate Advisory Partners (REAP) represented XPO Logistics.
SAVANNAH, GA. — NXT Capital has provided a $29.9 million acquisition loan for Liberty Oaks in Savannah. The 300-unit property offers one-, two- and three-bedroom floor plans with rental rates ranging from $795 to $1,095 per month. Communal amenities include a fitness center, pool, playground and walking/biking trails. The community is situated at 5110 Garrad Ave., six miles southwest of downtown Savannah. Richard Jordan of CBRE originated the loan on behalf of the undisclosed borrower. The seller was also not disclosed.