ROSWELL, GA. — Sterling Organization has sold Roswell Village Shopping Center, a retail center located in Roswell, roughly 25 miles north of Atlanta. Denver-based Revesco Properties purchased the center for an undisclosed price. Tenants at the property, which was 94 percent leased at the time of sale, include Ross Dress for Less, Marshalls and Crunch Fitness. Sterling originally acquired the center in 2014 for $10.6 million when the center’s occupancy rate was 31 percent. Jim Hamilton of JLL brokered the sale on behalf of West Palm Beach, Fla.-based Sterling.
ATLANTA — The Flying Biscuit Café, an Atlanta-based breakfast and brunch restaurant chain, plans to open 15 new locations in 2025. Founded in 1993, Flying Biscuit Café currently operates 35 locations, with a strong presence in Georgia, Texas, Alabama, Florida and the Carolinas. In 2025, the company will open restaurants in new markets, including Spartanburg, S.C.; Huntsville, Ala.; Knoxville, Tenn.; Tallahassee, Fla.; and Jonesboro, Ark. The Flying Biscuit Café opened five restaurants in 2024, which brought more than 150 jobs to local communities in Charleston and throughout Texas.
ATLANTA — Newmark has arranged the $140 million recapitalization for Corso Atlanta, a 203-unit upscale seniors housing community located at 3200 Howell Mill Road in the city’s West Paces Ferry area. Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, which features five years of interest-only payments, and secured a preferred equity investment from Kayne Anderson Real Estate Debt. Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy of Newmark facilitated the recapitalization on behalf of the borrower, Galerie Living. Corso Atlanta features independent living, assisted living and memory care residences, along with high-end amenities including chef-led dining options, a heated swimming pool, fitness center, full-service salon, multiple outdoor spaces, a theater, floral shop and a gift boutique.
AUGUSTA, GA. AND KANNAPOLIS, N.C. — Berkadia JV Equity & Structured Capital has arranged joint venture equity for the recapitalization of two multifamily properties in Georgia and North Carolina totaling 566 units. The sponsor is The Sterling Group and the properties include Argento at Riverwatch, a 296-unit community in Augusta, and Argento at Kellswater Bridge, a 270-unit property in Kannapolis. The joint venture equity partner and financing amount were not disclosed. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt led the Berkadia JV Equity & Structured Capital team in the recapitalization.
ATHENS, GA. — Cove Capital Investments, a Delaware Statutory Trust (DST) sponsor company, has completed the purchase of an industrial property located in Athens, roughly 70 miles northeast of Atlanta. Situated within the 35-acre General Time mixed-use development, the property totals 113,157 square feet. Originally built in 1990, the asset was redeveloped between 2018 and 2021. The property was acquired as part of Cove Capital’s growing portfolio of debt-free DST real estate assets for 1031 exchange and direct-cash investors, according to Dwight Kay, managing member and founding partner of Cove Capital Investments. The seller and sales price were not disclosed.
SANDY SPRINGS, GA. — CBRE Capital Markets’ Debt & Structured Finance team has arranged a $30.2 million acquisition loan for Aqua at Sandy Springs, a 219-unit apartment community located at 100 Greyfield Lane in Sandy Springs, a northern suburb of Atlanta. The borrower and buyer is New York-based T30 Capital. Blake Cohen and Reed McGarity of CBRE’s Atlanta office arranged the loan through Equitrust. Aqua at Sandy Springs was built in two phases in 1985 and 2000 and features one-, two- and three-bedroom apartments, as well as an outdoor pool.
MORROW AND DORAVILLE, GA. — JLL has negotiated the sale of two infill industrial properties in the Atlanta suburbs of Morrow and Doraville totaling 253,545 square feet. Jim Freeman, Matt Wirth, Dennis Mitchell and Britton Burdette of JLL represented the undisclosed seller in the transaction. Faropoint purchased both facilities for an undisclosed price. The properties include a 163,524-square-foot, cross-dock facility located at 48-50 Best Friend Road in Morrow that was fully leased at the time of sale to Currey & Co. Inc., as well as a 90,012-square-foot, rear-load facility located at 1056 Personal Place in Doraville that is fully leased to MWD Logistics Inc.
DOUGLASVILLE, GA. — Crescent Communities has announced plans for RENDER Douglasville, a new, 300-unit apartment community in Douglasville, approximately 20 miles west of Atlanta. Situated within The Foxfield Cos.’ The Trails mixed-use development, the multifamily development is scheduled for completion in early 2026. RENDER Douglasville will feature amenities including a swimming pool, clubhouse, outdoor spaces and entertainment programming. Project partners include CIBC, Great Southern Bank and Crescent Communities Construction. Phoenix Capital Management is providing financing. In addition to RENDER Douglasville, The Trails also features 60,000 square feet of townhome, hospitality and office space.
POWDER SPRINGS, GA. — A joint venture between Novare Group, BCDC and PointOne Holdings has delivered Springside, a 226-unit multifamily community in Powder Springs, roughly 20 miles northwest of Atlanta. Situated directly across from Thurman Springs Park, Springside offers apartments in studio, one- and two-bedroom layouts. Amenities at the community include a fitness center, swimming pool and sundeck, pet park, outdoor entertainment areas, dog spa and outdoor grilling stations. Select units also feature private garages. RAM Partners will manage and lease the property on behalf of the owners. Monthly rental rates at Springside range from $1,429 to $3,102, according to Apartments.com.
ATLANTA — Chicago-based Waterton has purchased 903 Peachtree, a 32-story apartment tower located at 903 Peachtree St. in Midtown Atlanta. The seller and sales price were not disclosed, but Atlanta Business Chronicle reported that the asset traded for $118.6 million. Additionally, REBusinessOnline reported last summer that Chicago-based CA Ventures fully delivered the tower in partnership with Diamond Realty Investments Inc. and Cartel Properties. The acquisition brings Waterton’s metro Atlanta multifamily portfolio to 3,026 units under management. Situated near Piedmont Park and the Eastside Trail of the Atlanta BeltLine, 903 Peachtree features 427 apartments and 7,843 square feet of retail space, as well as 46,000 square feet of resort-style indoor and outdoor amenities. Outdoor amenities at 903 Peachtree include a rooftop pool and lounge area, grilling stations, private cabanas and fire pits. Indoor offerings include a sauna and massage room, yoga studio, demonstration kitchen, recreation lounge and game room, screening room, coworking lounge, pet spa and dog run, bicycle storage and a large lobby and concierge level. The apartment tower features a variety of studio, one-, two- and three-bedroom floor plans, with monthly rental rates ranging from $1,670 to $5,170, according to Apartments.com.