Monday, June 9, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Georgia

DevelopmentGeorgiaMixed-UseMultifamilySoutheast

Partnership Tops Out First Residential Tower at $5B Centennial Yards Development in Atlanta

by John Nelson

ATLANTA — Centennial Yards Co., a partnership between an affiliate of CIM Group and a group led by Tony Ressler, has topped off the first residential tower located within the $5 billion Centennial Yards development in downtown Atlanta. Dubbed The Mitchell and designed by TVS Architecture + Design and Goode Van Slyke Architects (GVSA), the building totals 19 stories and will feature 304 apartment units with studio, one-, two- and three-bedroom layouts. Amenities will include a pool with an event lawn and grilling stations, coworking spaces, a dog run and pet spa, fitness center and 16,000 square feet of ground-floor retail space. Construction is scheduled for completion next year, with move-ins expected to begin in summer 2025. The Mitchell is situated across from a planned Sports and Entertainment District that will offer 470,000 square feet of entertainment, retail, restaurant and hospitality space. Cosm recently announced plans to open a 70,000-square-foot immersive entertainment venue at the district. Upon completion, Centennial Yards will span 50 acres and total 8 million square feet of commercial and residential space. Mercedes-Benz Stadium and State Farm Arena shadow anchor the development, which is located with proximity to Centennial Olympic Park and downtown Atlanta attractions including the …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaRestaurantRetailSoutheast

Chick-fil-A Opens First Elevated, Drive-Thru Only Restaurant in McDonough, Georgia

by John Nelson

MCDONOUGH, GA. — Chick-fil-A is opening its first elevated, drive-thru only restaurant in the south Atlanta suburb of McDonough today. Located at 2155 Jodeco Road, the restaurant features four drive-thru lanes that run below an elevated kitchen that is twice the size of a typical Chick-fil-A kitchen. Food reaches the delivery team members via a custom meal transport system that uses conveyer belt technology. Patrons can either order onsite with a Chick-fil-A team member or order ahead on the Chick-fil-A app. The restaurant features dedicated lanes for both ordering methods, as well as “pull-aside lanes” for guests whose orders are taking longer to fulfill.  The Atlanta-based fast-casual restaurant chain says that the Jodeco Road restaurant has the capacity to support two to three times more vehicles than a standard Chick-fil-A restaurant drive-thru. Chick-fil-A, which opened its first restaurant with a drive-thru in 1993, expects to employ 150 team members at the new McDonough restaurant, which serves both the McDonough and Stockbridge markets. The company announced the new restaurant concept in summer 2023, along with a digital-only pick-up restaurant in New York City that opened in March.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsGeorgiaLoansSoutheast

Trimont Agrees to Acquire Wells Fargo’s Commercial Mortgage Servicing Business

by John Nelson

ATLANTA AND SAN FRANCISCO — Atlanta-based Trimont has signed a definitive agreement to acquire Wells Fargo’s non-agency third-party commercial mortgage servicing business. The acquisition does not include the San Francisco-based company’s Fannie Mae or Freddie Mac business lines, which Wells Fargo will continue to service, along with the loans remaining on its balance sheet. Värde Partners, a global alternative investment firm, acquired and has owned Trimont through certain funds since 2015. Värde will provide funding for the acquisition, which will enable Trimont to offer servicing across all non-bank commercial real estate lending structures. Following the close of the acquisition, which is expected to occur in early 2025, Trimont will manage more than $715 billion in U.S. and international commercial real estate loans, making the firm the largest commercial real estate loan servicer in the United States. Trimont’s consultants in the transaction include J.P. Morgan Securities LLC (financial advisor), Goldman Sachs & Co. LLC (general advisory services) and Kirkland & Ellis LLP, Cadwalader, Wickersham & Taft LLP, and Trilegal (legal). Wells Fargo Securities LLC served as exclusive financial advisor to Wells Fargo, and Wachtell, Lipton, Rosen and Katz served as the company’s legal advisor.

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

Parkland Residential Begins Vertical Construction for 114-Unit Build-to-Rent Community in Lawrenceville, Georgia

by John Nelson

LAWRENCEVILLE, GA. — Parkland Residential has begun vertical construction at Sugarloaf Landing, a 114-unit build-to-rent residential community underway in Lawrenceville, a northeast suburb of Atlanta. Situated on 10 acres at 3440 Sugarloaf Parkway, the property will include rear-entry stacked townhomes, with each unit featuring two or three bedrooms and a one-car garage. Parkland Residential says that the townhomes will span between 1,600 for a two-bedroom home and 1,950 square feet for a three-bedroom unit, with monthly rental rates starting at $2,400. Prim Properties will begin leasing at the property in October. In addition to the townhomes, Sugarloaf Landing will feature a swimming pool with a cabana, playground, nature preserve, sidewalks and pocket parks.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaSoutheastStudent Housing

LV Collective Completes 750-Bed Student Housing Community Near University of Georgia

by John Nelson

ATHENS, GA. — LV Collective has completed Rambler Athens, a 600,000-square-foot student housing development located at 558 W. Broad St. in Athens near the University of Georgia campus. The community offers 750 beds across 342 units, with configurations ranging from studio to five-bedroom layouts. Amenities at the property include a second-floor study mezzanine with private study spaces and conference rooms; a resort-style swimming pool and hot tub surrounded by fire pits, a grilling area and jumbotron; an onsite dog spa; and a fitness center with cardio machines, weightlifting equipment, a yoga studio, artificial turf area and two saunas. The community also features a coffee shop dubbed Daydreamer Café, as well as 22,692 square feet of retail space. The development team for the project included Niles Bolton Associates, Krywicki Interior Design and Rabren General Contractors.

Continue Reading
FacebookTwitterLinkedinEmail
GeorgiaLoansMultifamilySoutheast

Berkadia Secures $24.4M Agency Refinancing for River Walk Savannah Apartments

by John Nelson

SAVANNAH, GA. — Berkadia has secured a $24.4 million loan for the refinancing of River Walk Savannah, a 220-unit apartment community located at 101 Saint George Blvd. in Savannah. Mitch Sinberg, Scott Wadler, Brad Williamson, Matthew Robbins and Hugo Hernandez of Berkadia arranged the Freddie Mac Loan on behalf of the borrower, Vantage Point Acquisitions, a real estate private equity firm. The loan features a five-year term and a fixed interest rate. Built in 1988, River Walk Savannah features one- and two-bedroom apartments, as well as a clubhouse, gated access, pickleball court, pet park, swimming pool and a fitness center.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaLoansRetailSoutheast

MMCC Arranges $9.1M Acquisition Loan for Shopping Center in Peachtree Corners, Georgia

by John Nelson

PEACHTREE CORNERS, GA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $9.1 million acquisition loan for Spalding Woods, an 84,000-square-foot shopping center located at 4015 Holcomb Bridge Road in Peachtree Corners, a northeast suburb of Atlanta. Garrett Fierstein of MMCC’s Orlando office, along with Simon Grigoryan of Marcus & Millichap’s Jacksonville office, arranged the financing through an out of state credit union on behalf of the borrower, an undisclosed, privately held investor. The 10-year loan was underwritten with a 25-year amortization schedule, 65 percent loan-to-value (LTV) ratio and flexible prepayment options. Spalding Woods’ tenant roster includes Dollar Tree, Peachtree Corners Eye Clinic, KFC/Taco Bell, Dunkin’ and Clean Eatz. Additional spaces are available for build-out, according to MMCC.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaIndustrialSoutheastTop Stories

Aertssen Logistics to Open 380,800 SF Facility at 2,600-Acre Savannah Gateway Industrial Hub

by Kristin Harlow

RINCON, GA. — Aertssen Logistics USA Inc. has unveiled plans to open a 380,800-square-foot equipment processing center at Savannah Gateway Industrial Hub (SGIH) in Rincon near the Port of Savannah. Broe Real Estate Group is the developer of the larger, 2,600-acre industrial park. Aertssen specializes in the transportation, handling, final assembly and management of construction, agriculture and aerial lift equipment. The new 35-acre facility marks the Belgian company’s first U.S.-based operation. Aertssen Logistics is a division of Aertssen Group NV. The property will provide comprehensive logistics services, indoor and outdoor storage, and various tailor-made technical services. Aertssen says it selected the location due to land to expand on, a strong local labor market, strategic highways and quick access to the Port of Savannah’s 35-plus weekly services to world markets. To catalyze its expansion in the U.S., the company established Aertssen Logistics USA as a separate entity that aims to double the current number of machines it processes annually by 2030. In the coming years, Aertssen plans to open additional equipment processing centers in Baltimore, Houston and Tacoma, Wash. “We see significant opportunities for growth, fueled by a strong U.S. economy with substantial investments in infrastructure, which are driving an increased …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsGeorgiaMixed-UseSoutheastTop Stories

Jamestown to Acquire North American Properties Atlanta Office, Including $2B Real Estate Portfolio

by John Nelson

ATLANTA — Jamestown, a real estate development, investment and management firm based in Atlanta, has announced plans to purchase the Atlanta-based subsidiary of North American Properties (NAP), a prominent mixed-use developer and operator based in Cincinnati. Terms of the acquisition were not disclosed, but NAP’s Atlanta office had $2 billion in assets under management (AUM) as of June 30, 2024. That portfolio includes nine mixed-use destinations across six states on the East Coast. As part of the transaction, a Jamestown affiliate will make an investment in the platform’s portfolio comprising Colony Square in Midtown Atlanta; The Forum Peachtree Corners in Peachtree Corners, Ga.; Avenue East Cobb in Marietta, Ga.; Birkdale Village in Huntersville, N.C.; Ridge Hill in Yonkers, N.Y.; and Newport on the Levee in Newport, Ky. The acquisition also includes the platform’s real estate services business that manages Avalon in Alpharetta, Ga.; Mercato in Naples, Fla.; and Riverton in Sayreville, N.J. These third-party services will add to Jamestown’s real estate services business, which currently includes 22 projects across 19 cities and 10 countries. “This acquisition will bolster our differential advantage in the market as a vertically integrated, mixed-use operator with a focus on placemaking,” says Michael Phillips, president of Jamestown. …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaIndustrialLoansSoutheast

Byline Bank Provides $18.3M Acquisition Financing for Industrial Property in Metro Atlanta

by John Nelson

SUWANEE, GA. — Byline Bank’s Commercial Real Estate Group (BCREG) has provided an $18.3 million loan for the acquisition of a warehouse and distribution facility located at 460 Horizon Drive in Suwanee, roughly 30 miles northeast of Atlanta. High Street Logistics Properties is the borrower. Situated on 18.5 acres, the property totals 230,530 square feet and can be configured for one or three tenants. The seller was not disclosed. The loan marks the fifth transaction Byline Bank has funded for High Street Logistics to date, with previous loans funding industrial properties in Georgia, Texas and Illinois.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts