Georgia

KENNESAW, GA. — Cushman & Wakefield has arranged the sale of The Haven at Kennesaw, a cottage-style student housing community located near the Kennesaw State University (KSU) campus in Kennesaw, roughly 30 miles northwest of Atlanta. Developed in 2018, the property features 148 beds across 32 units in one-, four- and five-bedroom configurations. Amenities include a swimming pool, sundeck and green space. Travis Prince, Victoria Marks, Travis Presnell and Shawn Lubic of Cushman & Wakefield represented the seller, Henssler Capital LLC, in the transaction. The Preiss Co. acquired the community, which was fully occupied at the time of sale. Terms of the transaction were not disclosed.

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CORDELE, GA. — Hoar Construction has broken ground on the expansion and renovation of Crisp Regional Hospital in Cordele, about 66 miles south of Macon via I-75. Completion of the $18.3 million project is scheduled for August 2025. Plans include the addition of 15,000 square feet across two stories, including 7,500 square feet of operating suite space. Renovations will also include updates to the hospital’s existing administration, post-operation and entrance and waiting room spaces. The project team includes architect CDH Partners, program manager Impact Development Management, structural engineer Walter P. Moore, civil engineer Columbia Engineering and MEP engineer NBP Engineers.

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TIFTON, GA. — Marcus & Millichap has brokered the $2.7 million sale of a 16,324-square-foot retail center located at 1898 W. U.S. Highway 82 in Tifton, a city situated along I-75 in South Georgia. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller and procured the private buyer. Both parties requested anonymity. The property’s tenant roster includes Little Caesar’s, Sally Beauty and Cricket Wireless. Walmart Supercenter, Rent-A-Center and Lowe’s Home Improvement shadow-anchor the property.

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ATLANTA — On behalf of its investors, Hunt Capital Partners (HCP) has transferred ownership of Ashford Parkside Senior Residences to a nonprofit affiliate of the Housing Authority of DeKalb County. Located in Atlanta, Ashford Parkside is a mid-rise, mixed-income seniors housing community built in 2007. Following the end of 15-year recapture period in 2022, a collaborative effort ensued between the nonprofit and HCP to reach a mutually beneficial outcome regarding the property’s future. The decision provides the Housing Authority of Dekalb County greater capital flexibility surrounding all aspects of property operations and repair projects as it shapes its long-term housing plan. Ashford Parkside offers a mix of one- and two-bedroom apartments. Of the 151 total units, 134 are dedicated to seniors with incomes ranging from 30 percent to 60 percent of the area median income (AMI). Additionally, two of the units are reserved for property management while the remainder are rented at market rates.

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SAVANNAH, GA. — The Savannah Georgia Convention Center Authority has selected a joint venture between Songy Highroads and Matthews Southwest Hospitality to develop a 400-room hotel at The Savannah Convention Center. The authority also named Atlanta-based Cooper Carry as the lead architect for the project. Songy Highroads is starting a one-year design, engineering and pricing period for the hotel’s development, and will assist the Savannah Georgia Convention Center Authority with the financing for the hotel. The Savannah Convention Center is undergoing a $271 million expansion that will double the current exhibit hall space to 200,000 square feet, add a 40,000-square-foot ballroom and create 15 new meeting rooms. The new hotel is a direct result of the expansion and will double the number of hotel rooms at the Savannah Convention Center.

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DULUTH, GA. — Concord Hospitality plans to open The Westin Atlanta Gwinnett, a 348-room hotel in the Atlanta suburb of Duluth, on Thursday, March 21. The hotel will serve as the flagship lodging option for Gas South District, a 118-acre multipurpose campus off Sugarloaf Parkway that is anchored by the Gas South Convention Center and Arena (formerly known as Infinite Energy Center). The Westin Atlanta Gwinnett features 27,000 square feet of meeting space with 16 event facilities, as well as a signature restaurant, SweetSong Kitchen & Bar, and a rooftop bar known as Overstory. The hotel also offers a presidential suite featuring a private terrace, two hospitality suites with outdoor terraces and four executive level and six standard suites. In July 2022, ACRES Capital Corp. originated a $74.8 million construction loan for Raleigh-based Concord Hospitality.

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CARROLLTON, GA. — Stratus Property Group has purchased a 38,000-square-foot shopping center located at 415 Rome St. in downtown Carrollton, about 45 miles west of Atlanta. The acquisition included three acres of land. The seller and sales price were not disclosed. The center was built in 1980 and includes five tenant spaces, according to LoopNet Inc. Current tenants include long-time restaurants Shuckers Oyster House and Sutton’s American Grill. Stratus Property Group is working with the City of Carrollton to reimagine the center. In addition to the revamp of this retail center, Carrollton will soon house four breweries/distilleries and The Amp, a new public amphitheater.

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SANDY SPRINGS, GA. — First National Realty Partners (FNRP) has executed a 28,000-square-foot retail lease with US Foods CHEF’STORE in Sandy Springs, a northern suburb of Atlanta. The retailer, which caters to food industry professionals and at-home chefs, will occupy space within City Center Crossing, a 98,048-square-foot shopping center located at 6331 Roswell Road. The store will be the first location in the Atlanta area for CHEF’STORE and is set to open by the end of the year. Red Bank, N.J.-based FNRP purchased City Center Crossing in 2021. Other tenants at the center include Planet Fitness, Gold Fish Swim School and Hudson Grille.

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NEW YORK CITY — Walker & Dunlop has arranged a $108 million CMBS loan for a four-property office portfolio located across the Sun Belt. The properties span nearly 1 million square feet and are located in Alpharetta, Ga.; Plano, Texas; Raleigh, N.C.; and Falls Church, Va. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Christopher de Raet of Walker & Dunlop’s New York City office arranged the financing through Goldman Sachs and Argentic. The borrowers are affiliates of Vero Capital and Prime Finance. The recapitalization allows the borrowers to have $20 million of available capital for leasing costs and capital improvements for the portfolio.

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JOHNS CREEK, GA. — Toro Development Co., a development firm founded by former North American Properties executive Mark Toro, has acquired a land site in the northern Atlanta suburb of Johns Creek for its upcoming Medley mixed-use development. Toro acquired the 43-acre site, which is located at the intersection of Johns Creek Parkway and McGinnis Ferry Road, for $44 million. Currently the site features a four-story office building, a demolished site of another office building and surface parking. Plans for Medley call for 200,000 square feet of retail, restaurant and entertainment space; 900 luxury residences, featuring a mix of townhomes and apartments; 110,000 square feet of office space; and a central green space. Committed tenants at Medley include Ford Fry’s Little Rey, CRÚ Food & Wine Bar, Fadó Irish Pub, Summit Coffee, Lily Sushi Bar, Knuckies Hoagies, Cookie Fix, Sugarcoat Beauty, BODY20 and AYA Medical Spa. Len Erickson and Kaitlyn Theriot of Franklin Street handle Medley’s retail leasing assignment, and Bryan Heller and Parker Welton of Stream Realty Partners handle office leasing. Medley’s design-build team includes architect Nelson Worldwide, engineer Kimley-Horn and landscape architect Site Solutions.

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