Georgia

Grandbridge Real Estate Capital Secures $47.5M for Refinancing of Multifamily Communities in Metro Atlanta

by Camren Skelton June 29, 2017

MARIETTA AND COLLEGE PARK, GA. — Grandbridge Real Estate Capital has secured a $29.5 million first mortgage loan for Ivy Common Apartments, a 344-unit multifamily community in Marietta, and an $18 million first mortgage loan for the Parc at 1875, a 352-unit property in College Park. Alan Tapie and Thomas Wiedeman of Grandbridge arranged the 10-year, interest-only loans with 30-year amortization schedules through Freddie Mac’s Capped ARM loan product. The deals closed with interest rates in the low 3 percent range. Ivy Commons is located at 3555 Austel Road S.W. in Marietta, roughly 20 miles north of Atlanta, and features tennis courts, a pool and a fitness center. The Parc at 1875 is located at 1875 E. Pleasant Hill Road in College Park, and features a fitness center, playground, tennis court and a pool.

June 29, 2017

Georgia Industrial Southeast

Lidl to Develop $100M Regional Headquarters, Distribution Center in Metro Atlanta

by Camren Skelton June 27, 2017

CARTERSVILLE, GA. — Lidl, a discount German grocery chain, has unveiled plans for a new $100 million regional headquarters and distribution center in Cartersville, roughly 40 miles north of Atlanta. The facility will create 250 jobs over the next five years. Lidl is focusing first on the Southeast and Mid-Atlantic in its U.S. expansion plans, with its first 20 stores set to open this summer in Virginia, North Carolina and South Carolina. To date, Lidl operates more than 10,000 grocery stores in 28 countries.

June 27, 2017

Georgia Industrial Southeast

Core5 Industrial Partners Sells Logistics Center in Metro Atlanta for $62M

by Camren Skelton June 27, 2017

FAIRBURN, GA. — Core5 Industrial Partners has sold Core5 Logistics Center at Shugart Farms, an 873,800-square-foot industrial facility located in Fairburn, roughly 20 miles south of Atlanta, for $62 million. Chris Riley, Frank Fallon and Trey Barry of CBRE represented Atlanta-based Core5 in the sale to a private institutional investor. The logistics facility was constructed in early 2017 and was fully leased to The Duracell Co. at the time of sale.

June 27, 2017

Georgia Multifamily Southeast

5 Cap Realty, RREIC Advisors Acquire Multifamily Asset in Metro Atlanta for $21.6M

by Camren Skelton June 26, 2017

STONE MOUNTAIN, GA. — Pennsylvania-based 5 Cap Realty LLC and its affiliate RREIC Advisors have acquired Grove Mountain Park, a garden-style apartment community located in Stone Mountain, roughly 20 miles east of Atlanta. The partnership acquired the property for $21.6 million with plans to invest an additional $3.2 million in renovations. 5 Cap Realty utilized a Fannie Mae loan to purchase the community. Grove Mountain Park comprises 13 garden-style buildings and includes a mix of studio, one-, two- and three-bedroom units. Forty Two LLC, a 5 Cap affiliate, will manage the property.

June 26, 2017

Georgia Office Southeast

Terra Cap Management Purchases Metro Atlanta Office Center for $19M

by Camren Skelton June 26, 2017

DULUTH, GA. — Terra Cap Management LLC has acquired 3100 Breckinridge, a seven-building, 253,000-square-foot office park located on Breckinridge Boulevard in Duluth, a suburb of Atlanta in Gwinnett County. Avison Young’s Matt Tritschler represented the undisclosed seller in the $19 million transaction, and C.J. Kelly of CBRE led the debt origination. Lincoln Property Co. Southeast will handle leasing and management assignments for the property.

June 26, 2017

Georgia Industrial Southeast

Pattillo Delivers 592,600 SF Industrial Facility in Metro Atlanta

by Camren Skelton June 23, 2017

CARTERSVILLE, GA. — Pattillo Industrial Real Estate has completed a 592,600-square-foot build-to-suit industrial warehouse for Zep Inc. in the Atlanta suburb of Cartersville. The company, a manufacturer of maintenance and cleaning solutions, will use the facility for distribution of its product line. The property is located within Cartersville Business Park, an industrial park owned and developed by Pattillo. Ben Stafford was the in-house representation for Pattillo, and Mike Paradoski of Pinnacle CREAS represented Zep in the lease transaction.

June 23, 2017

Georgia Mixed-Use Southeast Top Stories

NAP Breaks Ground on $80M Mixed-Use Project on Atlanta BeltLine

by Kristin Harlow June 23, 2017

ATLANTA — North American Properties (NAP) has broken ground on Edge, an $80 million mixed-use project on the Atlanta BeltLine’s Eastside Trail. NAP is partnering with Atlanta BeltLine Inc. (ABI) and The Conservation Fund Partner to transform the environmentally contaminated site. Edge will line both sides of the BeltLine’s Eastside Trail with 29,000 square feet of retail, dining and loft office space, connected by a pedestrian bridge. Of 350 residential units, 30 percent will be dedicated to affordable workforce housing for the portion of the property purchased from ABI. Completion of the retail and residential components is slated for spring 2019. “This initiative is the first redevelopment project on the Atlanta BeltLine where activation is occurring on three corridors: the Atlanta BeltLine, DeKalb Avenue and Edgewood Avenue, and it represents the vision of building an Atlanta BeltLine that everyone can call home,” says Paul Morris, president and CEO of ABI. The Atlanta BeltLine currently consists of four open trails, two trails under construction and seven parks. The 22-mile loop of pedestrian-friendly transit is slated for full completion in 2030. Founded in 1954, NAP is a privately held, multi-regional real estate operating and development company that has acquired, developed and managed …

June 23, 2017

Georgia Office Southeast

CBRE Unveils Renovation Plans for 18-Story Office Building in Atlanta’s Central Perimeter

by Camren Skelton June 22, 2017

ATLANTA — CBRE has unveiled plans to transform 7000 Central Park, an 18-story office tower located within Atlanta’s Central Perimeter submarket. Improvements to the 423,775-square-foot tower include modernization of the front lobby, a fitness center, collaborative working space and conference center, expanded café area, meeting space and a new outdoor living area that will provide gathering space for lunches and special events. 7000 Central Park will join CBRE’s 5-Star Worldwide Program, a national network of office buildings that attracts talent through a range of professional services, hospitality and events. CBRE’s 5-star shuttle service will provide tenants access to MARTA stations, as well as several mixed-use communities in the area. Renovations are expected to be completed by November of this year.

June 22, 2017

Georgia Multifamily Southeast

Balfour Beatty Communities Acquires Multifamily Portfolio in Metro Atlanta

by Camren Skelton June 22, 2017

UNION CITY AND FAIRBURN, GA. — Balfour Beatty Communities has acquired three apartment communities in metro Atlanta for an undisclosed price. The Evergreen Portfolio, comprising Evergreen Commons, Evergreen Park and Evergreen Terrace, totals 882 units and encompasses 91 acres. Located in Union City, Evergreen Commons includes 328 one-, two- and three-bedroom units and features a pool, fitness center, playground, tennis and other sport courts. The 310-unit Evergreen Park located in Fairburn features one-, two- and three-bedroom units. Property amenities include indoor and outdoor pools, a tennis court, putting green and a playground. Also in Fairburn, Evergreen Terrace consists of 244 one-, two-, three- and four-bedroom units and features indoor and outdoor pools, a tennis court, bowling alley and a playground. With this acquisition, Balfour Beatty Communities expands its presence in Georgia to 10 properties and approximately 6,500 units.

June 22, 2017

Georgia Loans Multifamily Southeast

KeyBank Provides $20.8M Freddie Mac Loan for Multifamily Property in Atlanta

by John Nelson June 21, 2017

ATLANTA — KeyBank Real Estate Capital has provided a $20.8 million Freddie Mac acquisition loan for Village on the Green, a 216-unit multifamily property located at 2975 Continental Colony Parkway in Atlanta. KeyBank’s Timothy Weldon and Irena Edwards structured the fixed-rate financing with a 10-year term, 30-year amortization schedule and five years of interest-only payments. Property amenities include a fitness center, resort-style pool, playground and a tennis court.

June 21, 2017

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