STOCKBRIDGE, GA. — KeyBank Real Estate Capital has arranged a $14.9 million acquisition loan for North Park at Eagle’s Landing, a 244-unit apartment community in Stockbridge, roughly 20 miles south of Atlanta. Built in 1999, the property designates 67 units for tenants earning roughly 80 percent of the area median income. Caleb Marten of KeyBank arranged the seven-year Fannie Mae loan with one year of interest-only payments and a 30-year amortization schedule.
COLUMBUS, GA. — The W.C. Bradley Co. has unveiled plans for its land holdings along the Chattahoochee River in Uptown Columbus. The master plan, known as The River District, includes W.C. Bradley’s holdings from its corporate headquarters at 1017 Front Ave. to the Frank K. Martin Pedestrian Bridge on 14th Street in Columbus and almost nine acres in Phenix City, Ala. The River District’s first phase will be a 7.5-acre mixed-use complex between 13th and 14th streets known as Riverfront Place, which will include two apartments buildings, retail and office space and either an office building or hotel overlooking the river. The groundbreaking for the first building in Riverfront Place, called The Rapids, will take place within the next 60 days. The Rapids will be a 415,000-square-foot mixed-use building that will include 226 apartments, shops and a restaurant. The Rapids will feature three elevated courtyards including a garden-style pool, outdoor bar and TV area, bocce ball court, outdoor ping pong table, grilling stations, communal dining table, fire pit and poolside cabanas. Other amenities will include a 24-hour fitness center, private residents’ lounge with pool table, an indoor bar area and a TV room. The Rapids represents an estimated investment of …
MCDONOUGH, GA. — GBT Realty Corp. has purchased a 7.6-acre site along State Route 20 in the south Atlanta suburb of McDonough from OTS Capital and Masters Living Trust. The site will house a new 71,000-square-foot shopping center anchored by Burlington. The $14 million center will also feature Pet Supermarket, Tuesday Morning, an additional junior anchor and 6,400 square feet of shop space. Brentwood, Tenn.-based GBT Realty expects to break ground in the near future and deliver the shopping center later this year.
ATHENS, GA. — CBRE has brokered the sale of Archer on North Apartments, a 140-unit multifamily community located at 210 Spring Court in Athens, a little more than a mile from the University of Georgia. Atlanta-based QR Capital purchased the asset for an undisclosed price. Built in 1984 and renovated in 2012, Archer on North features a new clubhouse, outdoor pool and fitness center. The community was 98 percent occupied at the time of sale. Brad Simmel of CBRE represented the seller, Archer On North LLC, in the transaction.
POOLER, GA. — Image Hotels has broken ground on a four-story, 120-room Courtyard by Marriott located at 419 Pooler Parkway in Pooler, a suburb of Savannah. The Courtyard Pooler/Savannah Airport hotel will be situated near the Savannah/Hilton Head International Airport and the new Tanger Outlet Savannah. The property will feature 6,820 square feet of banquet and event space, as well as a fitness center, guest laundry services, business center, restaurant and a 24-hour snack shop. Set to open in September 2018, the hotel will operate as a Marriott franchise and will be owned by Image Pooler LLC. Image Hotels will manage the hotel upon completion.
FAIRBURN, GA. — Battery giant Duracell Corp. has signed a full-building lease totaling 873,800 square feet of industrial space at Core5 Logistics Center at Shugart Farms, an industrial development located in Atlanta’s I-85/Airport submarket in Fairburn. The Core5 facility will provide Duracell distribution services for all of North America. Sonoco, a global diversified packaging company, will support Duracell’s new battery packaging operation, and DHL will handle the logistics. Kris Bjornson and Bill Kee of JLL represented the tenant in the lease deal. Cushman & Wakefield represented the landlord, Core5 Industrial Partners.
ATLANTA — New York Life Insurance Co. has provided a $38.8 million loan for One and Two Perimeter Plaza, a two-building office complex located at 5605 and 5607 Glenridge Drive N.E. in Atlanta’s Central Perimeter office submarket. The recently renovated office buildings total 316,734 square feet and feature covered building access, structured parking, an exterior patio with barbeque grills, café, conference facility and a fitness center. The 11-story One Premier Plaza and the seven-story Two Premier Plaza were 81.4 percent leased at the time of sale to tenants such as McGriff, Siebels & Williams, Mozley, Finlayson & Loggins, FirstPRO, JMG Realty, Peachtree Hotel Group and The Gap. Ed Coco and Matt Casey of HFF arranged the floating-rate, three-year loan through New York Life on behalf of the borrower, Zeller Realty Group.
PEACHTREE CITY, GA. — The $9.5 billion MEPT Fund, along with its affiliated funds, has purchased Kedron Village II, a 157,185-square-foot shopping center located in Peachtree City, about 30 miles southwest of downtown Atlanta. MEPT also owns the adjacent Kedron Village I, a 97,000-square-foot, grocery-anchored retail center. Built in 2006, Kedron Village II was 90 percent leased at the time of sale to tenants such as Ross Dress for Less, Bed Bath & Beyond and Petco. The weighted average remaining lease term for all tenants is nearly five years and 80 percent of the tenant base has been at the center for seven or more years. Bentall Kennedy, a Sun Life Investment Management company, advised MEPT in the transaction.
ADAIRSVILLE, GA. — Shaw Industries Group Inc., a carpet manufacturer, has opened its new $85 million carpet tile manufacturing facility located in Adairsville. Known as Shaw Plant T1, the property employs 170 associates and will create 500 new jobs once it reaches full capacity. The facility provides production capabilities for Shaw’s Patcraft, Philadelphia Commercial and Shaw Contract brands of carpet. The company also operates facilities in Cartersville, Ga., and Nantong, China.
SMYRNA, GA. — Colliers International has arranged the $109 million sale of three multifamily properties totaling 680 units in Smyrna’s Vinings district, a submarket of Atlanta. The properties include The Peak at Vinings Mountain, The Views at Vinings Mountain and Lakeside at Vinings Mountain, collectively known as The Residences at Vinings Mountain. San Francisco-based Hamilton Zanze purchased all three properties. Will Mathews of Colliers International represented the seller, an institutional REIT, in the transaction.