Georgia

Greystone Provides $48M Refinancing for Seniors Housing Community in Metro Atlanta

by Alex Tostado October 7, 2019

PEACHTREE CORNERS, GA. — Greystone has provided a $48 million Freddie Mac loan to refinance Village Park at Peachtree Corners, a 132-unit senior housing community. Cary Temper of Greystone originated the 10-year loan on behalf of the borrower, Harbert Seniors Housing Fund I. Village Park at Peachtree Corners offers independent living, assisted living and memory care services. The property includes communal amenities such as garden paths, a health spa, pet park, juice bar, fitness centers, stretch classes, restaurant-style dining, private transportation and a beauty and barber salon. The property is located at 5701 Spalding Drive, 22 miles northeast of downtown Atlanta.

October 7, 2019

Acquisitions Georgia Multifamily Southeast

Fogelman Properties, Thackeray Partners Buy 246-Unit Apartment Complex in Metro Atlanta

by Alex Tostado October 4, 2019

DOUGLASVILLE, GA. — Fogelman Properties and Thackeray Partners have acquired Lakeside at Arbor Place, a 246-unit apartment complex in Douglasville. The property offers one-, two- and three-bedroom floor plans and was 96 percent occupied at the time of sale. Communal amenities include a clubhouse, fitness center, swimming pool, dog park and a tennis court. The buyers plan to upgrade unit interiors and upgrade amenities, including making improvements to the fitness center and clubhouse, as well as adding a sports court and outdoor kitchen. The community was built in two phases in 1988 and 1996, and rents range from $904 to $1,385. Lakeside at Arbor Place is located at 3000 Georgia 5, 24 miles west of downtown Atlanta. The seller and price were not disclosed.

October 4, 2019

Acquisitions Georgia Mixed-Use Southeast

JLL Arranges Sale of Alpharetta City Center in Georgia

by Alex Tostado October 3, 2019

ALPHARETTA, GA. — JLL has arranged the sale of Alpharetta City Center, a mixed-use development featuring 168 residential units, a town green and 82,700 square feet of retail and restaurant space. Amorance, the multifamily community on-site, spans two buildings, offering one- and two-bedroom floor plans averaging 1,067 square feet. The property, which South City Partners and Morris & Fellows delivered in 2018, features communal amenities such as a clubroom with outdoor patio, catering kitchen, communal living room with a fireplace and TV, swimming pool courtyard, grilling area, fire pit, lounge seating areas, and a fitness center with yoga and spin rooms. The District, a 41,650-square-foot collection of local boutiques and service providers, sits at street level below the apartments. The Gardens, developed by Morris & Fellows, houses 41,050 square feet of chef-driven restaurants spanning two acres of parks and green spaces across three city blocks of Main Street. The retail and restaurants were fully leased at the time of sale. David Gutting, Margaret Caldwell (now with Arden Capital Advisors), Derrick Bloom and Margaret Jones of JLL represented the sellers, South City Partners and Morris & Fellows, in the transaction. CBRE Global Investors purchased the property on behalf of a separate account client …

October 3, 2019

Acquisitions Development Georgia Industrial Southeast

Rooker Acquires 600 Acres in Northeast Georgia, Plans 6 MSF Industrial Park

by Alex Tostado October 2, 2019

COMMERCE, GA. — Rooker has acquired 600 acres in the northeast Georgia city of Commerce to construct Bana 85 Commerce Center, a planned 6 million-square-foot business and logistics park. Road and utility construction are slated to begin in 2020, as will grading for an initial site to accommodate 1.5 million square feet. Bana 85 Commerce Center will have sites available in a range of sizes for build-to-suit or user sales in the warehousing, distribution and manufacturing sectors. The site is located 20 miles east of Georgia Ports Authority’s 104-acre inland port in Gainesville, which is slated for completion in 2021. Atlanta-based Rooker acquired the undeveloped land by assembling multiple properties within the area. The land acquisition included several industrial-zoned parcels and three commercial-zoned parcels. Brent Story of Avalon Real Estate Partners represented the sellers in the land acquisition.

October 2, 2019

Company News Development Georgia Mixed-Use Southeast

Integral Group Adds Three Developers, Alamo Drafthouse to Assembly Yards Project in Metro Atlanta

by Alex Tostado October 1, 2019

DORAVILLE, GA. — The Integral Group has added three development partners at Assembly Yards, a 165-acre mixed-use redevelopment of the former General Motors plant in Doraville. Paces Properties has joined the development team as the retail partner, StreetLights Residential will serve as the multifamily partner and Ashton Woods Homes as the single-family home builder. Additionally, Alamo Drafthouse Cinema, a Texas-based chain of movie theaters with in-house dining and bar service, will open its first Georgia location at Assembly Yards in 2021. Paces Properties expects to build 125,000 square feet of retail space, including a 16,000-square-foot food hall. Dallas-based StreetLights Residential will construct 300 multifamily units, while Ashton Woods will deliver 150 townhomes. The partnerships with Paces, StreetLights and Ashton Woods combined will add $175 million of development to the site. The first set of retail openings is scheduled for early 2021. In May, Serta Simmons Bedding also celebrated the grand opening of its new 250,000-square-foot headquarters at Assembly alongside Georgia Gov. Brian Kemp and Doraville Mayor Donna Pittman. At the same time, NAVYA launched an autonomous shuttle, the first-of-its-kind in the region.

October 1, 2019

Acquisitions Georgia Mixed-Use Southeast

Rubenstein, Monarch Acquire Transit-Oriented Mixed-Use Development in Atlanta for $187M

by Alex Tostado September 30, 2019

ATLANTA — Rubenstein Partners and Monarch Alternative Capital have acquired Lindbergh Center, a 1 million-square-foot mixed-use development in Atlanta’s Buckhead district, for $187 million. The property comprises twin 14-story office buildings above the MARTA Lindbergh Station and a 47-acre development that includes residential and retail space. Retailers include LongHorn Steakhouse, Taco Mac, Jimmy Johns, Willie’s and Five Guys. Residential communities include eon at Lindbergh and Alexan Buckhead Village. Lindbergh Center’s office towers are fully leased to AT&T until Dec. 31, 2020. The buyers plan to implement upgrades that will include improving the overall amenities at the property. Stewart Calhoun, David Meline, Samir Idris and Adam Spies of Cushman & Wakefield represented the seller, Columbia Property Trust, in the transaction. Mack Real Estate Credit Strategies (MRECS) provided first mortgage debt financing for the transaction. Columbia Property Trust purchased the development in 2008.

September 30, 2019

Acquisitions Georgia Retail Southeast

Coro Realty Buys Two Parking Garages Connected to Underground Atlanta

by Alex Tostado September 30, 2019

ATLANTA — Coro Realty has bought two parking garages connected to Underground Atlanta. The decks, MLK 75 and MLK 95, are located on Martin Luther King Jr. Drive across the street from numerous government office buildings, including the Fulton County courthouse and the Georgia State Capitol complex. Coro intends to invest roughly $1 million in the garages, making improvements to the stairs, elevators, lighting, signage and parking equipment. With direct access to Underground Atlanta, MLK 75 and MLK 95 were built in 1980 and cover about 1.6 acres. The decks contain 1,254 parking spaces between the two buildings. When complete, Underground Atlanta will have more than 400,000 square feet of retail, restaurant, entertainment, office, residential space and a 351-room Yotel hotel. Brandon Rogoff, Nicholas Ricardo and Steven Morgan of NKF Capital Markets brokered the transaction. John Hancock Life Insurance Co. provided acquisition financing. The sales price was not disclosed.

September 30, 2019

Development Georgia Healthcare Southeast

Emory Healthcare, Atlanta Falcons Break Ground on 29,000 SF Sports Clinic in Flowery Branch

by Alex Tostado September 27, 2019

FLOWERY BRANCH, GA. — Emory Healthcare and the Atlanta Falcons have broken ground on a 29,000-square-foot musculoskeletal and sports medicine clinic in Flowery Branch. Located at the Falcons’ practice facilities, the Emory Orthopaedics & Spine Center at Flowery Branch will be accessible to the public while also being an access point for Falcons players who may need diagnostic imaging or be seen by a sports medicine expert. The property is located 45 miles north of downtown Atlanta. The building will take 14 to 16 months to complete.

September 27, 2019

Development Georgia Multifamily Seniors Housing Southeast

Village Park Breaks Ground on 204-Unit Seniors Housing Community in Atlanta’s Buckhead District

by Alex Tostado September 26, 2019

ATLANTA — Village Park has broken ground on Corso Atlanta, a senior living community in Atlanta’s Buckhead neighborhood. Situated on a nine-acre site, the first phase of development will feature 82 independent living units, 21 independent living homes, 75 assisted units and 26 memory care units. Village Park, the developer and future operator of the facility, plans to partner with local farmers, florists, manicurists and chefs to operate the onsite amenities. The property is located across the street from Northside Medical Center. The development is scheduled for completion in late 2020 or early 2021. The architect is THW Architects, and the general contractor is Gilbane Building Co.

September 26, 2019

Acquisitions Georgia Retail Southeast

Colliers Arranges Sale of Two Metro Atlanta Shopping Centers Totaling 147,444 SF

by Alex Tostado September 26, 2019

MONROE AND VILLA RICA, GA. — Colliers International has arranged the sale of two shopping centers near Atlanta: Monroe Plaza and Villa Rica Crossing. Monroe Plaza spans 89,860 square feet and is located at 748-796 W. Spring St. in Monroe, about 45 miles east of downtown Atlanta. The center was fully leased at the time of sale to tenants including Quality Foods, Cato, Family Dollar and Roses Express. A private buyer acquired the property from Malon D. Mimms Co. for an undisclosed price. Food Depot anchors Villa Rica Crossing, which was 98 percent leased at the time of sale. The 57,584-square-foot center is situated at 664 W. Bankhead Highway in Villa Rica, 34 miles west of downtown Atlanta. A private buyer purchased the property from Ziff Properties for an undisclosed price. Tony D’Ambrosio and Joe Montgomery of Colliers represented the sellers in both transactions.

September 26, 2019

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