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Georgia

AcquisitionsGeorgiaMultifamilySoutheast

Blackfin Purchases Sage Creek Apartments in Augusta, Georgia for $17.3M

by John Nelson

AUGUSTA, GA. — Blackfin Real Estate Investors LLC, a multifamily investment firm based in Arlington, Va., has purchased Sage Creek Apartments, a 120-unit garden-style community located at 1315 Marks Church Road in Augusta. The seller, an investment group led by JJM Realty Partners LLC, sold the property for $17.3 million. Mike Riley and Ian Shaw of Berkadia represented the seller in the transaction. Patrick McGlohn, Brian Gould, Ted Hermes, Miles Drinkwalter and Natalie Hershey of Berkadia arranged an undisclosed amount of acquisition financing for Blackfin. Built in 2016, Sage Creek represents Blackfin’s first acquisition in Georgia. The property offers one- and two-bedroom apartments ranging in size from 812 to 1,076 square feet, according to Apartments.com. Amenities include a pool, fitness center, laundry facilities, onsite maintenance, bike storage, pet play area and a dog park.

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Port Wentworth
DevelopmentGeorgiaIndustrialSoutheast

Dermody Launches 10 MSF Port Wentworth Commerce Center Project Near Port of Savannah

by Abby Cox

PORT WENTWORTH, GA. — Industrial real estate firm Dermody Properties has launched Port Wentworth Commerce Center, a 10 million-square-foot master-planned logistics project located roughly seven miles from the Port of Savannah and one mile from I-95. The development will be supported by a 2.5-mile road system currently under construction, where utilities such as water, sewer, power, gas and fiber optics will be installed. Situated within a designated Foreign Trade Zone (FTZ), Port Wentworth Commerce Center allows tenants to defer, reduce or eliminate tariffs on imported goods. The campus will also have onsite CSX rail service. The project is expected to be the largest near-port logistics development to begin construction in the Southeastern United States in 2025 and will serve as the premier port-centric logistics park on the Eastern Seaboard, according to company representatives. Dermody has selected Bill Sparks and Preston Andrews of CBRE to handle leasing at Port Wentworth Commerce Center. Dermody currently has four projects under construction in the Southeast region and more than 1.5 million square feet available for lease.

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Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Partnership Opens Phase I, Begins Phase II of Affordable Housing Development in Decatur, Georgia

by John Nelson

DECATUR, GA. — A partnership between Decatur Housing and Preserving Affordable Housing Inc. (PAHI) has officially opened Phase I of Village at Legacy, an affordable housing development in the east Atlanta suburb of Decatur. The partnership also officially broke ground on Phase II. Leasing and move-in activity at Phase I of Village at Legacy is expected to begin in August, with construction on Phase II targeted for completion in spring 2026. Village at Legacy is situated on six acres within Legacy Park, a 77-acre site that once housed the United Methodist Children’s Home. The project represents the first ground-up affordable housing development in Decatur in decades. Phase I is a $27.9 million apartment community comprising 66 units, 40 of which Decatur Housing is supporting with project-based vouchers under its new Housing Assistance Payments (HAP) contract with HUD. The $21.5 million second phase will also comprise 66 units, 20 of which will have project-based vouchers. Decatur Housing was awarded Low Income Housing Tax Credits (LIHTC) by the Georgia Department of Community Affairs to support both phases of Village at Legacy. The City of Decatur and the Decatur Housing Authority are providing additional capital. Other capital partners include Hudson Housing Capital, Advantage …

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AcquisitionsDevelopmentGeorgiaHospitalitySoutheast

DoveHill Invests in Redevelopment of Historic Boutique Hotel in Savannah

by John Nelson

SAVANNAH, GA. — Fort Lauderdale, Fla.-based DoveHIll has placed a preferred equity investment for the redevelopment of a boutique hotel in Savannah’s Historic District. The project will deliver The Sabal House, a 64-room luxury hotel, in place of the former President’s Quarter Inn. The hotel is located on Oglethorpe Square and directly across from the Owens-Thomas House. In addition to upgraded and brand new hotel rooms, The Sabal House will feature Oak Steakhouse, a restaurant concept by Indigo Road Hospitality Group. Terms of DoveHill’s investment were not released. The hotel’s management firm, TPG Hotels & Resorts, says the development team includes Procaccianti Cos., Kim King Associates and Ross Hotel Partners.

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DevelopmentGeorgiaIndustrialSoutheast

IPA Secures $77.3M Construction Financing for Industrial Facility in Savannah

by John Nelson

SAVANNAH, GA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has secured $77.3 million in construction financing for Central Port Logistics Tract 3, an industrial development in Savannah. The property, which is situated within the Central Port Logistics Center industrial park near the Port of Savannah, will comprise three speculative industrial facilities totaling 1.2 million square feet. Sunny Sajnani and Travis Headapohl of IPA’s Dallas office arranged the non-recourse through an undisclosed life insurance company on behalf of the borrower, Capital Development Partners. The developer expects Central Port Logistics Tract 3 to deliver and be fully occupied by November 2026.

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AcquisitionsGeorgiaIndustrialSoutheast

Stonemont Financial Sells 234,133 SF Distribution Center in Braselton, Georgia

by John Nelson

BRASELTON, GA. — Stonemont Financial Group has sold Braselton Broadway 85, a 234,133-square-foot distribution center located at 1394 Broadway Ave. in Braselton, about 49 miles northeast of Atlanta. The facility, which was fully leased at the time of sale, sits on a 21.5-acre site along State Highway 124. Nuveen purchased Braselton Broadway 85 for an undisclosed price. Also in the metro Atlanta region, Stonemont Financial recently sold Chamblee International Logistics Park and is nearing completion on Stonemont Park 75 South in Locust Grove.

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The Gathering at South Forsyth
DevelopmentGeorgiaMixed-UseSoutheast

Forsyth County Approves Plans for $3B Mixed-Use Development in Metro Atlanta, Including 18,000-Seat Arena

by Abby Cox

ALPHARETTA, GA. — The Forsyth County Commission has approved plans for The Gathering at South Forsyth, a $3 billion mixed-use development located in Alpharetta, roughly 26 miles north of Atlanta. Situated near Ronald Reagan Boulevard and Union Hill Road, the 100-acre development will include an 18,000-seat arena as the centerpiece of the property, along with residential, retail and dining components. The project, which is led by Krause Sports and Entertainment, aims to attract a National Hockey League (NHL) expansion team to the region. The region hasn’t had an NHL team since the Atlanta Thrashers franchise moved to Winnipeg in 2011.

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Habersham Crossing
AcquisitionsGeorgiaRetailSoutheast

Colliers Negotiates $10.6M Sale of Habersham Crossing Shopping Center in Cornelia, Georgia

by Abby Cox

CORNELIA, GA. — Colliers has negotiated the $10.6 million sale of Habersham Crossing, a 149,397-square-foot shopping center located in Cornelia. Goodwill, Tractor Supply Co., Ross Dress for Less and Dollar Tree anchor the center, which was fully leased at the time of sale. Additional tenants include Bath & Body Works, Palm Beach Tan, TB Nails & Spa and Habersham Package. Scott Israel and Joe Montgomery of Colliers represented the seller, an entity doing business as Habersham ZMCS LLC, in the transaction. The buyer was not disclosed.

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GeorgiaLoansMultifamilySoutheastWalker & Dunlop

Walker & Dunlop Secures $33M Refinancing for Massell Apartments in Cartersville, Georgia

by John Nelson

CARTERSVILLE, GA. — Walker & Dunlop has secured a $33 million loan for the refinancing of The Massell, a newly delivered apartment community located at 1230 Joe Frank Harris Parkway in Cartersville, a northwest suburb of Atlanta. Stephen Farnsworth and Hanes Dunn led the Walker & Dunlop team that arranged the loan through ACRE on behalf of the borrowers, Norhaven Partners and Coro Realty. The non-recourse loan features a floating interest rate, five-year term and full-term interest-only payments. The Massell is a 210-unit, garden-style community that features a clubhouse with a coworking area, 24/7 fitness center, resort-style swimming pool with sundeck, grilling stations and a pet park.

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DevelopmentGeorgiaLoansMultifamilySoutheast

Berkadia Arranges $60.8M in Construction Financing for Mosaic Pooler Apartments Near Savannah

by John Nelson

POOLER, GA. — Berkadia has arranged $60.8 million in construction financing for Mosaic Pooler, a 333-unit multifamily community located within the Mosaic Town Center mixed-use development in Pooler, a western suburb of Savannah. The borrower, an affiliate of Bayline Group, acquired the 12-acre site at 800 High Ave. in 2023. Bank OZK provided a $47.5 million, three-year, floating-rate loan to Bayline Group. Berkadia also lined up $13.3 million in preferred equity through FCP. Mitch Sinberg, Scott Wadler, Bryan Brown, Robert Falese and Jake Adoni of Berkadia arranged the financing on behalf of Bayline Group. Upon completion, which is slated for May 2026, Mosaic Pooler  will offer a mix of one-, two- and three-bedroom units, as well as three-story carriage houses with garages. Amenities at the property include a fitness center with a yoga room, game room and resident lounge, coworking spaces, a dog park and pet spa, package locker system, electric vehicle charging stations and a resort-style pool with a large outdoor patio, cabanas and grilling stations.

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