Georgia

The Arbor Terrace at Burnt Hickory Marietta

NorthMarq Arranges Construction Financing for Seniors Housing Property in Metro Atlanta

by John Nelson May 12, 2016

MARIETTA, GA. — NorthMarq Capital has arranged a credit enhancement and joint venture sponsor to finance the construction of The Arbor Terrace at Burnt Hickory, a 92-unit seniors housing community in the Atlanta suburb of Marietta. Developer and operator The Arbor Co. is developing the community, and the general contractor, Choate Construction, expects to deliver the property by March 2017. Will James of NorthMarq’s Atlanta office secured the financing for the landowner, Hollander Properties. Specific terms were not disclosed.

May 12, 2016

Georgia Hospitality Southeast

Winter Construction to Build Solis Hotel Adjacent to Porsche Headquarters in Atlanta

by John Nelson May 11, 2016

ATLANTA — Winter Construction has been selected to build the new Solis Hotel Two Porsche Drive, a 214-room hotel that will be situated adjacent to the new Porsche Cars North American Headquarters in Atlanta. The hotel will also be situated close to Hartsfield-Jackson Atlanta International Airport’s International Terminal/Concourse F. The eight-story property will feature restaurants and bars, 6,500 square feet of event space with a 3,600-square-foot ballroom and a rooftop lounge with views of the Porsche Experience Center and airport. The owner of the hotel, Swiss real estate investment company ACRON, hosted a groundbreaking ceremony in early April. HOK Architecture designed the hotel, which will mirror the Porsche headquarters with glass, aluminum and metal exterior panels. Winter Construction expects to deliver the hotel by fall 2017.

May 11, 2016

Georgia Multifamily Seniors Housing Southeast

SLIB Brokers $8.4M Sale of 38-Unit Assisted Living Community in Metro Atlanta

by John Nelson May 6, 2016

ACWORTH, GA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Overlook at Cedarcrest, a 38-unit assisted living community in the northwestern Atlanta suburb of Acworth. Senior Housing Properties Trust bought the community from an undisclosed seller for $8.4 million. Five Star Senior Living will operate the community. The building was constructed in 2014, and the developers listed the community for sale once stabilization was reached. Bradley Clousing and Jeff Binder of SLIB brokered the transaction.

May 6, 2016

Georgia Retail Southeast

Whole Foods to Open New 365 by Whole Foods Market Concept in Decatur

by John Nelson May 5, 2016

DECATUR, GA. — Whole Foods Market has selected Decatur as one of the first cities to introduce its new 365 by Whole Foods Market concept. Set to open at North Decatur Square in spring 2018, the new grocery store will feature affordable and convenient groceries that still meet the Austin-based grocer’s high standard of quality. Fairburn, Ga.-based S.J. Collins Enterprises is developing North Decatur Square, a new 90,000-square-foot shopping plaza underway at North Decatur Road and Church Street. The first 365 by Whole Foods will open in Silver Lake, Calif., on May 25, 2016, followed by about 10 more over the next year in cities including Lake Oswego, Ore.; Bellevue, Wash.; Santa Monica, Calif.; Evergreen Park, Ill.; Sycamore Township, Ohio and Gainesville, Fla.

May 5, 2016

hotel Savannah historic River Street district

Georgia Hospitality Southeast

Winter Construction to Build Boutique Hotel in Savannah’s Historic District

by John Nelson May 5, 2016

SAVANNAH, GA. — Winter Construction plans to build a new seven-story boutique hotel in Savannah. The 173-room, 162,000-square-foot property will span an entire city block in the historic River Street district. Winter is building the hotel on behalf of developer RBHD and owner Rockbridge. Upon completion in October 2017, the hotel will feature two levels of parking, five levels of guest rooms, a fitness area, meeting space, pool, lobby bar, a restaurant on River Street and a rooftop event space and bar. The design team includes architect Gunn Meyerhoff Shay and interior designers FODA and Parts & Labor.

May 5, 2016

Florida Georgia Healthcare Southeast Tennessee

Bauman & Co. Buys Three Medical Office Buildings in the Southeast for $25M

by John Nelson May 3, 2016

ATLANTA — Atlanta-based Bauman & Co. has purchased three medical office buildings in Orlando; Macon, Ga., and Chattanooga, Tenn., for a combined $25 million. The properties include the Lake Lurna Professional Center in downtown Orlando, the Coliseum Cancer Center in Macon that is being renamed the Coliseum Drive Physicians Building and the Spring Creek Medical Center in Chattanooga that is being renamed the Spring Creek Physicians Building. The Orlando and Macon buildings were fully leased at the time of sale and the Chattanooga property was 82 percent leased. Bauman & Co., Siemens Financial Services, Capital One Healthcare and a small group of private investors provided acquisition financing for the portfolio transaction.

May 3, 2016

Georgia Mixed-Use Southeast

ARW Group Plans to Develop $700M Atlanta River Walk Project

by John Nelson May 2, 2016

BRASELTON, GA. — ARW Group LLC, a joint venture between Peachtree City developer Jorge Duran and Harry Kitchen Jr. of the Foxfield Co., plans to build Atlanta River Walk, a $700 million mixed-use destination in Braselton. The proposed 508-acre project will be centered around a man-made “river” and will resemble the San Antonio Riverwalk and Oklahoma City Bricktown. The waterfront village will feature international restaurants and high-end shopping. Other components include single-family and multifamily housing, a Class A office park, seniors housing, a movie theater, boutique hotel, conference center, major supermarket and an outdoor amphitheater. The project will be surrounded by 30 acres of green space featuring art installations, walking trails and a multi-use path. Atlanta River Walk will be situated near Chateau Elan and Road Atlanta and straddle the county line between Hall and Jackson counties. ARW Group created the master plan in collaboration with Wakefield Beasley Architects and engineering firm Atwell Group. Funari Realty will manage residential sales. The project team also includes Road Atlanta and the city of Braselton. The Atlanta Business Chronicle reports that ARW Group will present the Atlanta River Walk project at a Hall County Planning Commission meeting today to get the site rezoned. …

May 2, 2016

Alabama Georgia Retail South Carolina Southeast

Preferred Apartment Communities Purchases Grocery-Anchored Retail Portfolio for $68.7M

by John Nelson May 2, 2016

ATLANTA — Preferred Apartment Communities Inc. (PAC) has purchased six grocery-anchored retail properties in Georgia, South Carolina and Alabama for $68.7 million. The portfolio spans 535,000 square feet and comprises five Publix-anchored centers and one Walmart Supercenter-anchored property. PAC purchased the six properties through its wholly owned subsidiary New Market Properties LLC. PAC used roughly $25 million in debt from Unum Life Insurance Co. of America, Colonial Life & Accident Insurance Co. and First Unum Life Insurance Co. to purchase four of the properties. PAC used available funds to purchase the remaining balance of the four properties and to purchase the other two retail centers completely without debt.

May 2, 2016

Georgia Retail Southeast

Cabela’s to Open New 70,000 SF Store in Metro Atlanta

by John Nelson April 29, 2016

MCDONOUGH, GA. — Cabela’s Inc. plans to open a new 70,000-square-foot store off I-75 in the south Atlanta suburb of McDonough. The new store will anchor Jodeco | Atlanta South, a $300 million mixed-use development that RCP Cos. is developing in Henry County. Cabela’s is the first confirmed tenant in the project. The outdoor retailer plans to open the new location in the fall of 2017. The McDonough location will be Cabela’s fourth Georgia store, joining existing stores located in Augusta, Acworth and Fort Oglethorpe. Cabela’s expects to employ approximately 130 full-time, part-time and seasonal employees at the store. The McDonough Cabela’s will include an archery and firearm tech room, indoor archery range and a “Bargain Cave,” along with thousands of outdoor products displayed using a new floor plan that emphasizes hunting, fishing, camping and recreational shooting.

April 29, 2016

Georgia Retail Southeast

U.S. Properties Completes Makeover of 485,685 SF Retail Center in Metro Atlanta

by John Nelson April 27, 2016

MORROW, GA. — U.S. Properties Group has completed an extensive makeover of the former Southlake Pavilion in Morrow, a suburb of south Atlanta roughly 10 miles down I-75 from Hartsfield-Jackson Atlanta International Airport. Now known as The Shoppes at Morrow Station, the 485,685-square-foot retail center will feature a Nam Dae Mun Farmers Market that will replace a vacant 100,000-square-foot Target this summer. Other tenants include a newly renovated Ashley Furniture store, Ross Dress for Less, Party City and Barnes & Noble.

April 27, 2016

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