ATLANTA — NorthMarq Capital has arranged permanent debt financing for Intellicenter, a 150,000-square-foot, LEED Silver-certified office property located at 2531 Sever Road in Atlanta. Warren Hitchcock of NorthMarq’s Houston office arranged the 12-year loan with a 30-year amortization schedule through an undisclosed life insurance company on behalf of the borrower, Susquehanna Holdings Ltd. The office building was fully leased at the time of the loan transaction.
JOHNS CREEK, GA. — Grandbridge Real Estate Capital has arranged a $10 million acquisition loan for a 109,586-square-foot shopping center in Johns Creek, an affluent northern suburb of Atlanta. Publix anchors the shopping center and has roughly five years remaining on its lease. Gerry Robbins of Grandbridge originated the loan through an unnamed insurance company lender on behalf of the undisclosed buyer, which purchased the lender-owned asset at auction.
SAVANNAH, GA. — HOS Management has begun construction on the new Fairfield Inn & Suites-Historic Savannah at 135 Martin Luther King Jr. Blvd. in downtown Savannah. The Savannah-based developer has also begun building a public parking garage located adjacent to the hotel. The hotel will feature 140 guest rooms and meeting space that can accommodate up to 385 people. HOS Management expects to deliver the hotel and parking garage in July 2016. The company is also in the design/development stage for a new Aloft hotel in Savannah’s Historic District and has a future hotel in the pipeline at 321 Montgomery St. in Savannah.
CUMMING, GA. — Atlanta-based contractor Juneau Construction Co. has entered the final phase of construction for The Villas at Canterfield in Cumming, which includes a 146,000-square-foot independent living apartment facility. The structure under construction is a four-story building housing 76 residential units, plus a pool, exercise facilities, multi-purpose activity rooms, a club area, country store, fully equipped communal kitchen, restaurant-style dining area and an outdoor courtyard. Juneau expects to complete construction of The Villas at Canterfield by November. The developer is Medical Development Corp., and the architect and engineer is The Corcoran Ota Group.
ST. SIMONS ISLAND, GA. — Westwood Financial Corp. (WFC) has acquired Retreat Village, a 108,600-square-foot grocery-anchored shopping center located at 220 Retreat Village in St. Simons Island. WFC purchased the Winn Dixie-anchored center from Pace Properties LLC and Somera Capital Management LLC for an undisclosed price. The property is currently 97 percent occupied by tenants including H&H Lifestyles, Bonefish Grill, Edwin Watts Golf, AT&T, Great Clips, Subway, Burger King and Verizon Wireless. Richard Reed of HFF represented the sellers in the transaction.
SAVANNAH, GA. — CenterPoint Properties will break ground on a new 315,810-square-foot speculative industrial facility in Savannah. The new development will be located within CenterPoint Intermodal Center-Savannah on a 26-acre lot with direct access to the Georgia Port Authority and NS Dillard Yard, as well as direct rail service from Norfolk Southern. John Neely of Colliers International will market the property.
ATLANTA — Atlanta Property Group (APG), an Atlanta-based real estate investment firm, has closed on its acquisition of Securities Centre, a two-building, 531,000-square-foot office campus in Atlanta’s Buckhead submarket. The campus is located at 3490 and 3500 Piedmont Road near the intersection of Piedmont and Lenox roads. APG purchased the office complex from LNR Partners, which had foreclosed on the property in November 2011. APG has purchased 10 office properties spanning 3 million square feet in the metro Atlanta area since mid-2010. APG will lease and manage Securities Centre, with plans to complete a multi-million dollar renovation to the property during its first year of ownership. JLL represented LNR Partners in the transaction.
CONYERS, GA. — MB Real Estate Healthcare Group and McWhirter Realty Partners have broken ground on a 30,000-square-foot medical office building in Conyers Medical Park. Conyers Medical Park is an 11-acre campus situated at 1301 Sigman Road in Conyers, a suburb of Atlanta. The lead tenant for the property is Rockdale Medical Center, a subsidiary of LifePoint Health. Additional tenants include Piedmont Hospital and MD Pain Management. The design team includes general contractor Benning Construction Co. and architect Robertson Loia Roof. The development team expects to deliver the medical office building in the fourth quarter of 2015.
STONE MOUNTAIN, GA. — Crown Bay Group LLC, a Boca Raton, Fla.-based real estate investment and management firm, has purchased Wynview Apartments on Central Drive in Stone Mountain for $3.9 million. This is the company’s first acquisition in the Atlanta area. The garden-style apartment community is situated on a park-like lot and features a swimming pool. Crown Bay Group plans to renovate the property and rebrand it as Parc Central. The renovation will include the upgrade of unit interiors, the addition of new amenities including a playground, picnic area near the pool and a community room that will also house a business center.
ATLANTA — Franklin Street Real Estate Services has brokered the $4.7 million sale of the vacant 13-story Forty One Marietta office building in downtown Atlanta. The property offers a repositioning opportunity within walking distance to Georgia State University, the Atlanta Streetcar and the Five Points MARTA station. 41 Marietta Investments LLC purchased the property from a private owner for a little over $36 per square foot. Jake Reid and Ricky Jones of Franklin Street’s Atlanta office represented the seller in the transaction.
