Georgia

GoldOller Buys 610-Unit Apartment Community in Atlanta’s Vinings District

by John Nelson June 28, 2016

ATLANTA — GoldOller Real Estate Investments has purchased Westhaven at Vinings Apartments, a 610-unit community located in Atlanta’s Vinings district. The gated property features four swimming pools, fitness center, outdoor kitchens, recently upgraded interiors, Wi-Fi business center café and a treetop clubhouse and resident lounge. Westaven at Vinings is the 10th multifamily acquisition in the Atlanta area since 2012 for the Philadelphia-based apartment owner-operator, which has more than 3,000 units in its Atlanta apartment portfolio. The sales price was undisclosed.

June 28, 2016

Great Wolf Resorts to Open $150M Lodge, Indoor Water Park in LaGrange, Georgia

by Christina Cannon June 24, 2016

LAGRANGE, GA. — Great Wolf Resorts Inc. has unveiled plans to open a new $150 million destination resort in La Grange, approximately 70 miles southwest of Atlanta, by 2018. The company has entered into a partnership with the state of Georgia and the City of LaGrange, but no other details of the partnership have been released. Great Wolf Lodge Georgia will offer 500,000 square feet of entertainment space. The centerpiece of the resort will be a 93,000-square-foot indoor water park that will include a multi-level treehouse, tipping water bucket, high-thrill water slides, a lazy river, wave pool, several zero depth entry pools and kids water play areas. The lodge will also include 456 rooms that will each accommodate at least five people. Rooms will include refrigerators, microwaves and coffee makers. Great Wolf Lodge will also offer kid-focused suites such as the Wolf Den and KidCabin, which will feature various themes and bunk beds. Other entertainment options will include a ropes course, climbing attraction, miniature golf, bowling alley, spas, dining options and numerous shows and programs. The lodge will also feature over 16,000 square feet of meeting and conference space with audio-visual technology and catering options. “Creating more than 600 jobs and …

June 24, 2016

Georgia Industrial Southeast

Amazon to Build 600,000 SF Fulfillment Center in Georgia

by John Nelson June 23, 2016

BRASELTON, GA. — Amazon plans to build a new 600,000-square-foot fulfillment center in Braselton, a northeast suburb of Atlanta. The new facility will add 500 new full-time jobs to the area, joining the more than 1,500 full-time Amazon employees at existing facilities in Georgia. Employees at the new facility will pick, pack and ship large items such as home décor items, sporting equipment and gardening tools. Amazon has not announced a construction timeline for the new property.

June 23, 2016

Georgia Loans Retail Southeast

Bellwether Enterprise Closes $5.2M Refinance of Shopping Center in Metro Atlanta

by John Nelson June 23, 2016

SANDY SPRINGS, GA. — Bellwether Enterprise Real Estate Capital LLC has closed the $5.2 million refinance for Sandy Springs Village, a 40,944-square-foot shopping center located in Sandy Springs, a northern suburb of Atlanta. Built in 1977 on a 4.1-acre site, the property is leased to tenants such as Goodwill, Crossfit Perimeter and Huey Luey’s Mexican Restaurant, which is currently building out its restaurant.

June 23, 2016

Georgia Multifamily Southeast

RADCO Acquires Apartment Community in Metro Atlanta for $31.7M

by John Nelson June 22, 2016

LAWRENCEVILLE, GA. — The RADCO Cos. has purchased The Pointe at Sugarloaf Apartments, a 324-unit multifamily community in Lawrenceville, a northeast suburb of Atlanta in Gwinnett County. RADCO acquired the property for $31.7 million with plans to invest $3.7 million in capital improvements. The Atlanta-based company is using private equity and debt from BBVA Compass to fund the acquisition and renovation of the property, which will be rebranded 2800 at Sweetwater. Built in 1997 on 35.5 acres, the property features one- and two-bedroom apartments and three- and four-bedroom townhomes. The property’s average unit size is 1,002 square feet. Community amenities include a swimming pool with a sundeck, Wi-Fi café, coffee bar, large dog park, playground and a 24-hour fitness center. Berkadia brokered the off-market transaction. RADCO Residential will manage the property.

June 22, 2016

Civic Georgia Hospitality Mixed-Use Southeast

Public-Private Partnership to Begin Construction on Avalon’s $112M Hotel, Conference Center

by John Nelson June 20, 2016

ALPHARETTA, GA. — A public-private partnership involving North American Properties (NAP), Long Wharf Real Estate Partners, Stormont Hospitality Group and the city of Alpharetta will break ground tomorrow on The Hotel at Avalon and the connecting 65,000-square-foot Alpharetta Conference Center. The $112 million project will anchor Phase II of the 86-acre Avalon mixed-use development. The 330-bed hotel will be part of Marriott International’s Autograph Collection and will feature a local chef-driven restaurant, 24-hour fitness center, upscale pool, valet service and Club Avalon Concierge. The conference center will feature a 12,500-square-foot exhibit hall, 10,000-square-foot ballroom with six salons, six meeting rooms, boardroom, reception area, pre-function space and outdoor venues. The hotel and conference center are set to open in January 2018. The design team includes architect Cooper Carry and general contractor Brasfield & Gorrie. SunTrust Bank is providing construction financing, and HEI Hotels & Resorts will serve as the manager of the new hotel.

June 20, 2016

Georgia Mixed-Use Southeast

Carter, Selig Close on Land Purchase for City Springs Project in Metro Atlanta

by John Nelson June 20, 2016

SANDY SPRINGS, GA. — Master developers Carter and Selig Enterprises have closed on the purchase of private land in Sandy Springs for City Springs, a 14-acre master-planned development comprising government and commercial space. Carter and Selig plan to begin construction on the residential and retail portions of City Springs this summer. The residences will feature 275 apartments and 19 townhomes with high-end finishes and amenities. The retail portion will comprise 30,000 square feet of street-level space bounded by Johnson Ferry and Roswell roads, Sandy Springs Circle and Mt. Vernon Highway. Both the residential and retail portions of City Springs are set for a winter 2017 completion. SunTrust Bank and partner banks Iberia Bank and Trustmark are providing construction financing for City Springs. The development team includes general contractor Brasfield & Gorrie and architect RJTR. City Springs is a public-private partnership between the city of Sandy Springs, Carter and Selig Enterprises.

June 20, 2016

Georgia Office Southeast

HD Supply Breaks Ground on 222,500 SF Office Building in Atlanta

by John Nelson June 20, 2016

ATLANTA — HD Supply has broken ground on its Leadership Development Center, an eight-story, 222,500-square-foot office building located at 3400 Cumberland Blvd. in the Atlanta portion of Cobb County. Set to open in early 2018, the property will house 900 HD Supply employees and feature a leadership training and customer support center. The project team includes Atlanta-based developer Greenstone Properties, broker Colliers International and architects HLG Studio and Wakefield Beasley & Associates. HD Supply is an industrial distribution company with 13,000 associates operating in 500 locations across 48 states and six Canadian provinces.

June 20, 2016

The District at Vinings Apartments Atlanta

Georgia Multifamily Southeast

Sutter Hill Buys Apartment Community in Atlanta for $68.8M

by John Nelson June 17, 2016

ATLANTA — Toronto-based Sutter Hill Acquisition Corp. has purchased The District at Vinings Apartments, a 464-unit multifamily community located in Atlanta’s Vinings district. Sutter Hill acquired the property for $68.8 million and plans to invest up to $7 million in renovations. The community is situated on nearly 38 acres at 2800 Paces Ferry Road S.E., less than 3 miles from the new SunTrust Park under construction in Cobb County. Sutter Hill has hired Stonemark Management to manage the pet friendly community and supervise the renovations, which will include updates to the clubhouse, fitness center, landscaping and exteriors.

June 17, 2016

Georgia Multifamily Southeast

Berkadia Brokers Sales of Two Multifamily Communities in Metro Atlanta Totaling $28.8M

by John Nelson June 16, 2016

ATLANTA AND NORCROSS, GA. — Berkadia has arranged the sales of two apartment communities in metro Atlanta totaling $28.8 million. The transactions included the $14 million sale of The Retreat located at 3475 Pleasantbrook Village Lane in Atlanta and the $14.8 million sale of Huntington Ridge located at 2400 Windsor Woods Lane N.W. in Norcross. Atlanta-based Marquis Investments purchased The Retreat from Atlanta-based Rosdev Group, and Atlanta-based Sabra Associates bought Huntington Ridge from Atlanta-based Greentree Real Estate Services. Paul Vetter, Andrew Mays and Judy MacManus of Berkadia’s Atlanta office brokered both deals.

June 16, 2016

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