Georgia

Redstone Brings Retail Portion of 315 W. Ponce in Decatur to Full Occupancy

by John Nelson April 29, 2015

DECATUR, GA. — Redstone Investments has brought the retail portion of its mixed-use property in Decatur to full occupancy. The development is located at 315 W. Ponce de Leon Ave. and includes 10,000 square feet of street-level retail space, a 125,000-square-foot office building, shared parking deck and new multifamily residences. The property’s retail tenant roster includes Highland Bakery, Taziki’s and Orangetheory Fitness. The mixed-use project was jointly planned by Redstone Investments and Carter. The first phase of the residential component above the retail was completed in December 2014 and was 100 percent occupied within weeks of delivery. The final phase of the residential development will be completed this summer. Steve Wohl of Oakhurst Realty is the leasing agent for the property.

April 29, 2015

Georgia Retail Southeast

RCG Ventures, DRA Advisors Buy Shopping Center in Kennesaw for $46.5M

by John Nelson April 28, 2015

KENNESAW, GA. — Atlanta-based shopping center owner RCG Ventures has formed a joint venture with DRA Advisors to purchase Cobb Place, a 335,190-square-foot shopping center located along Ernest Barrett Parkway in Kennesaw, a northern suburb of Atlanta. The joint venture acquired the center from an undisclosed seller for $46.5 million. The property’s tenant roster includes Bed Bath & Beyond, Cost Plus World Market, DSW Shoe Warehouse, Ashley Furniture and American Signature Furniture. CBRE represented the seller in the transaction, and RCG Ventures was represented internally by Matt Klump.

April 28, 2015

Georgia Healthcare Southeast

SG Property Services Buys Medical Office Portfolio in Metro Atlanta for $11.8M

by John Nelson April 27, 2015

ATLANTA — Atlanta-based SG Property Services has acquired a portfolio of three Class A medical office buildings in metro Atlanta for $11.8 million. Totaling 60,000 square feet, the properties include Johns Creek Medical Building in Johns Creek, Marble Mill Medical Center in Marietta and Hospital Way in Stockbridge. The facilities are more than 95 percent leased and are located immediately adjacent to hospital anchors.

April 27, 2015

Georgia Loans Multifamily Southeast

Walker & Dunlop Arranges $43.6M Acquisition Loan for Apartment Community in Atlanta

by John Nelson April 23, 2015

ATLANTA — Walker & Dunlop Inc. has structured a $43.6 million acquisition loan for Solace of Peachtree, an apartment community located in Midtown Atlanta. Built in 1952 and renovated in 2009, the property includes a fitness center, underground parking garage, meeting rooms, business center, laundry facility and 34,628 square feet of retail space and vacant office space. The property’s retail tenant roster includes Baraonda Restaurant, Quizno’s and Scandinavian House Grocery Store. The borrower, Atlanta-based Cocke Finkelstein Inc. (CFI), and its affiliated management company CFLane plan to occupy the vacant office space. Will Baker led Walker & Dunlop’s team to structure the 10-year, fixed-rate acquisition loan through Freddie Mac on behalf of CFI. The loan features five years of interest-only payments and 80 percent loan-to-value. Walker & Dunlop teamed up with Michael Ryan and Jeff Walker of Cushman & Wakefield to structure the loan.

April 23, 2015

Georgia Multifamily Southeast

Novare Group, Batson-Cook Open 26-Story SkyHouse Buckhead in Atlanta

by John Nelson April 21, 2015

ATLANTA — Atlanta-based developers Novare Group and Batson-Cook Development Co. have opened SkyHouse Buckhead, a 26-story luxury high-rise apartment community in Atlanta’s Buckhead submarket. The 362-unit property on Stratford Road features a rooftop amenity deck with two pools, outdoor kitchens and lounges, club room and a fitness center. The floor plans range from studio units to three-bedroom residences. The property is located two blocks from Lenox Square Mall and Phipps Plaza and is connected to the Buckhead MARTA station by a new $32 million pedestrian bridge spanning Georgia 400. The community is also adjacent to the PATH400 Greenway, a 5.2-mile multi-use trail that will connect to the Atlanta Beltline. SkyHouse Buckhead’s project team includes general contractor Batson-Cook Construction and architect Smallwood, Reynolds, Stewart, Stewart. Ackerman & Co. was the land seller and equity partner in the project, along with NGI Investments LLC and Batson-Cook Development Co. An investor account advised by the U.S. real estate business of UBS Global Asset Management provided construction and permanent financing for the project. The property is one of 14 SkyHouse-branded apartment communities in the United States.

April 21, 2015

Georgia Retail Southeast

CBL, Horizon Group Break Ground on Expansion of The Outlet Shoppes at Atlanta

by John Nelson April 20, 2015

WOODSTOCK, GA. — CBL & Associates Properties Inc. and Horizon Group Properties Inc. have begun construction on the second phase of The Outlet Shoppes at Atlanta, an outlet mall in Woodstock that features 93 retailers. The 33,000-square-foot expansion is scheduled to open before the 2015 holiday season and will bring retailers GAP Outlet and Banana Republic to the outlet mall, which opened in July 2013 at the intersection of I-575 and Ridgewalk Parkway. Existing retailers at The Outlet Shoppes include Nike, Coach, Michael Kors, Saks Fifth Avenue OFF 5TH, Carter’s, Kate Spade, Vineyard Vines and Johnny Rockets. Horizon and CBL are co-developers of the project; Horizon is responsible for leasing and managing the center.

April 20, 2015

Georgia Multifamily Southeast

The Connor Group Sells Atlanta Apartment Community for $23.7M

by John Nelson April 17, 2015

ATLANTA — The Connor Group has sold Carriage Place, a 228-unit apartment community located near Emory University in Atlanta, for $23.7 million. The property is the company’s 20th community in the Atlanta market. The Connor Group entered the Atlanta market in 2003 and still owns five communities in the area. The Connor Group reportedly doubled their investment with the sale. The company has $1.5 billion in assets and owns and operates communities in Atlanta, Austin, Charlotte, Chicago, Cincinnati, Columbus, Dallas, Dayton, Nashville and Raleigh-Durham.

April 17, 2015

Georgia Hospitality Southeast

HDP, Hotel Equities Acquire a Portfolio of Marriott Hotels in Georgia

by John Nelson April 15, 2015

ATLANTA — Atlanta-based Hotel Development Partners (HDP) and its joint venture partner, Atlanta-based Hotel Equities, have acquired a portfolio of seven select-service Marriott hotels in metro Atlanta and Macon. The joint venture purchased the portfolio from Houston-based Moody National for an undisclosed price. The seven hotels are Fairfield Inn & Suites in Macon, Fairfield Inn & Suites Alpharetta, Fairfield Inn & Suites Buckhead, Fairfield Inn & Suites Perimeter Center, SpringHill Suites Alpharetta, TownePlace Alpharetta and TownePlace Suites Kennesaw. HDP and Hotel Equities plan to invest $17 million in the portfolio for capital improvements. Hotel Equities will manage the seven hotels.

April 15, 2015

Georgia Retail Southeast

Crossman & Co. Brokers $8.6M Sale of Shopping Center in Roswell

by John Nelson April 14, 2015

ROSWELL, GA. — Crossman & Co. has brokered the $8.6 million sale of Market Center, an 82,225-square-foot shopping center located on Holcomb Bridge Road in Roswell, a suburb of Atlanta. The Office Depot-anchored center was built in 1990 and was 56 percent leased at the time of sale. Brian Carolan and John Zielinski of Crossman & Co. represented the institutional seller in the transaction. The buyer was an unnamed investment fund.

April 14, 2015

Georgia Office Southeast

Parkway Properties Completes $78M Sale of Office Building in Atlanta

by John Nelson April 9, 2015

ATLANTA — Parkway Properties Inc. has completed the $78 million sale of Two Ravinia, a 390,000-square-foot office building in Atlanta’s Central Perimeter submarket. Parkway had a 30 percent ownership interest in the property, which was owned by Parkway Properties Office Fund II LP. The 17-story office tower was 80.5 percent leased at the time of sale. David Meline, Stewart Calhoun, Samir Idris and Casey Masters of Cushman & Wakefield represented Parkway in the transaction. The buyer, Franklin Street Properties Corp., a publicly traded REIT, plans to invest $4.8 million over the next three to four years to upgrade the office property.

April 9, 2015

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