MCDONOUGH, GA. — Alliance Residential Co. has opened The Weldon by Broadstone, a 330-unit multifamily community located in McDonough, roughly 30 miles south of Atlanta. The project team included locally based Dynamik Design, which served as the architect and interior designer, and Planners & Engineers Collaborative, which served as the project’s civil engineer. Situated within metro Atlanta’s I-75 corridor, The Weldon features one- and two-bedroom apartments ranging in size from 810 square feet to 1,182 square feet, according to Apartments.com. Amenities at the complex include a resort-style saltwater swimming pool with in-pool lounge chairs, outdoor lounge seating, a covered outdoor entertainment area with grilling stations, 24-hour fitness center, coworking spaces, a clubroom with an entertainment kitchen, gated pet park, children’s playground and a mailroom featuring a Luxer One package locker. Private balconies will also be available to residents in select units. Rental rates begin at $1,383 for a one-bedroom apartment.
Georgia
NASHVILLE, TENN. AND COLUMBUS, GA. — Pinnacle Financial Partners (NASDAQ: PNFP) and Synovus Financial Corp. (NYSE: SNV) have entered into a definitive agreement to combine operations in an all-stock transaction valued at $8.6 billion. The price reflects the closing stock prices for the two companies on July 21, the latest date unaffected by the merger announcement — $116.83 per share for Pinnacle and $55.53 for Synovus. Under terms of the agreement, Pinnacle shareholders will own approximately 51.5 percent of the combined company, which will operate under the Pinnacle name and trade under the PNFP ticker symbol on the New York Stock Exchange. Pinnacle Financial will move its headquarters to Atlanta while the retail bank branch division of the combined company, which will operate under the Pinnacle Bank brand, will be based in Nashville. As of June 30, Synovus operates 244 bank branches in Georgia, Alabama, Florida, South Carolina and Tennessee. Pinnacle operates 179 bank branches in Tennessee, Virginia, North Carolina, South Carolina, Georgia, Alabama, Kentucky and Florida, according to the FDIC. The Pinnacle-Synovus merger will create the largest bank holding company in Georgia and the largest bank in Tennessee. The transaction, which is expected to close in first-quarter 2026, has …
Peachtree Group Originates $42M Acquisition Loan for Atlanta Financial Center Office Campus in Buckhead
by John Nelson
ATLANTA — Peachtree Group has originated a $42 million loan for the acquisition and repositioning of Atlanta Financial Center, a 914,774-square-foot office campus in Atlanta’s Buckhead district. The borrower, Miami-based Banyan Street Capital, recently acquired the office campus, which comprises three interconnected towers situated on 13.1 acres atop Ga. Highway 400 with immediate access to a MARTA station. The floating-rate loan carries a 36-month initial term with a 12-month extension option. The loan is backed by completion, interest and carry guarantees from Banyan Street Capital. After being acquired in 2016 by a Sumitomo Corp. affiliate for $222.5 million, Atlanta Financial Center faced tenant departures, softening fundamentals and shifting capital priorities. Banyan Street Capital plans to reposition the campus, starting with the lease-up of the North Tower, which is being supported by capital expenditure reserves and funds for tenant improvements and leasing. The sponsor will also explore larger tenant opportunities and future redevelopment options.
BUFORD, GA. — Atlanta-based Invesco Real Estate has acquired Georgia Crossing, a 317,201-square-foot power shopping center located in Buford, roughly 38 miles northeast of Atlanta, for $82 million. Situated across from the 1.7 million-square-foot Mall of Georgia, Georgia Crossing was fully leased to a mix of tenants including T.J. Maxx/HomeGoods, Nordstrom Rack, Best Buy, Hobby Lobby, Staples, Cavender’s Boot City and Ulta Beauty at the time of sale. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL’s Investment Sales and Advisory team represented the seller, Columbus, Ohio-based Washington Prime Group, in the transaction.
EL PASO, TEXAS AND ATLANTA — Hunts Cos. Inc. has acquired a controlling interest in Carter, a mixed-use and residential real estate investment and development firm based in Atlanta. The El Paso-based firm is acquiring the majority stake in Carter and buying out longtime CEO and chairman Bob Peterson, who has subsequently announced his retirement. Current CEO and president Scott Taylor will continue to oversee the day-to-day operations at Carter post-acquisition. Terms of the transaction were not released. The partnership aims to grow Carter’s banking relationships, expand the company’s mixed-use development platform and secure additional investment opportunities in key markets. Hunt Cos. and Carter have previously collaborated on Prospect Lake Wire, a 22-acre mixed-use development underway in Lakeland, Fla., and for The DeSOTA, a luxury apartment development in Sarasota, Fla.
SINGAPORE AND CONSHOHOCKEN, PA. — Mapletree Investments Pte Ltd., a global real estate investment and management firm based in Singapore, has agreed to sell a portfolio of 10 bulk warehouse facilities that are located across various Sun Belt markets. Metro Philadelphia-based industrial development firm EQT Real Estate is purchasing the portfolio, which features properties in Georgia, Florida and Texas, for $241.2 million. Specific properties were not released, but a source familiar with the transaction says the assets are situated in suburban Atlanta, Dallas, Houston, Orlando and South Florida. Mapletree owns the warehouse facilities under Mapletree US & EU Logistics Private Trust, a closed-end private fund that was launched in 2019. Mapletree recently sold another portfolio within the $4.3 billion fund — a 1.8 million-square-foot portfolio that Faropoint purchased for $328 million. Clayton Skistimas, Christina Buhl, Marc Alfert, Mark Chu and Steve Silk of Eastdil Secured represented Mapletree in the transaction with EQT. The deal is expected to close by late 2025. “This divestment represents a strong outcome for our investors and affirms the value we’ve created across our U.S. industrial portfolio,” says Richard Prokup, CEO of Mapletree’s U.S. division. “As we look ahead, we remain focused on reinvesting in premier …
Interview by John Nelson Commercial Property Assessed Clean Energy (C-PACE) financing is a lending option that is gaining traction in the commercial real estate lending world. This type of financing is beneficial for owners who are looking to finance their new construction or redevelopments with long-term debt. Rafi Golberstein, founder and CEO of PACE Loan Group (PLG), a C-PACE lender with offices in New York City, San Diego, Chicago and Minneapolis, says that what many borrowers are now finding out is how adaptable this loan structure is, especially when paired with traditional bank financing. “C-PACE as a product type is not just living and breathing — it’s expanding,” says Golberstein. Originated in Berkeley, Calif., in 2008, C-PACE financing is now available in 40 states and Washington, D.C. It serves as an alternative funding source for commercial projects that qualify on the basis that they will result in reduced energy and water usage and greater building efficiency. C-PACE is not a federal program as it is overseen at the state or local level, with some states allowing local governments to administer the program. “States are making their legislation more broad, which allows us to get more projects done and larger checks …
FAIRBURN, GA. — Locally based Portman will develop a 332-unit multifamily community in Fairburn, roughly 20 miles south of downtown Atlanta. Dubbed Meadow Glen Village, Portman will begin construction this month, with plans to deliver the project in June 2027. The development will span nine buildings — each with dedicated parking — and will include a variety of floorplans and layouts. Meadow Glen Village will also feature a public greenspace that will be flanked on both sides by two 6,000-square-foot retail buildings that will be curated with food-and-beverage concepts and service retailers. Portman’s residential team has developed more than 20,000 residential units, including multifamily communities like Sora at Spring Quarter in Midtown Atlanta, Starling in Nashville’s Germantown neighborhood, Vera at Savona Mill in West End Charlotte and Linea in Charlotte’s South End district.
CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia
by Abby Cox
ATHENS, GA. — CCI Real Estate has obtained $67 million in construction financing for the redevelopment of the Baptist Collegiate Ministries (BCM) building at the University of Georgia (UGA) in Athens. Affinius Capital provided financing for the mixed-use redevelopment project. New South Construction will serve as the general contractor on the project, which is slated for completion by June 2027. Dubbed 290 Lumpkin, the eight-story development will serve as the new location for UGA BCM and will offer 240 residential units that will feature one- and two-bedroom apartments. Amenities will include a 356-space parking deck, rooftop deck, student lounge, offices and new ministry spaces that can accommodate more than 500 people. Additionally, the ground floor will include retail space, a coffeehouse and a fitness center. Originally housed at 450 S. Lumpkin St., BCM has been active on UGA’s campus since 1961. CCI is also redeveloping the BCMs at the Georgia Institute of Technology in Atlanta, as well as Georgia Southern University in Statesboro, Ga.
Lightstone Capital Provides $8.5M Acquisition Loan for Industrial Property in Southwest Atlanta
by Abby Cox
ATLANTA — Lightstone Capital has provided an $8.5 million loan for the acquisition and lease-up of a 207,000-square-foot light manufacturing building located at 3200 Lakewood Ave. SW in Atlanta. Green Dock Partners was the borrower. Situated near Hartsfield-Jackson Atlanta International Airport on a 7.2-acre site, the single-story facility features 29-foot clear heights and multiple dock-high doors.