Georgia

Grandbridge Closes $4.5M Mezzanine Loan for Acquisition of Metro Atlanta Seniors Facility

by John Nelson November 12, 2014

SUWANEE, GA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has closed a $4.5 million supplemental loan for Noble Village of Sugarloaf. The loan will be used in conjunction with the assumption of the existing $19 million first mortgage and acquisition of the seniors housing property. Located in the Atlanta suburb of Suwanee, the 109-unit community features a pool, fitness center, library, media center, billiards room, theater, coffee house, walking paths, beauty salon and a barber shop. Richard Thomas of Grandbridge originated the fixed-rate Fannie Mae DUS loan at the same time as the assumption of the existing Fannie Mae loan, which Grandbridge had originated for the seller several years earlier.

November 12, 2014

Georgia Southeast

Lincoln Property Co. Southeast Brokers $50M Sale of Data Center in Metro Atlanta

by John Nelson November 11, 2014

ALPHARETTA, GA. — Lincoln Property Co. Southeast has arranged the $50 million sale of a 184,553-square-foot data center in Alpharetta, a northern suburb of Atlanta. The data center is part of the 21-acre Windward Concourse Office Park. Carter Validus Mission Critical REIT purchased the property, which is fully occupied by GE under a long-term lease, from Datawind LLC. Tony Bartlett, Denton Shamburger and Chip Sipple of Lincoln Property Co. Southeast represented Datawind in the transaction.

November 11, 2014

Georgia Multifamily Southeast

Oak Coast, IMG Purchase Legacy Key Apartments in Metro Atlanta for $30M

by John Nelson November 11, 2014

SANDY SPRINGS, GA. — Oak Coast Properties and IMG have purchased Legacy Key Apartments, a 350-unit, Class B multifamily community in Sandy Springs, a northern suburb of Atlanta. Oak Coast and IMG purchased the asset from DRA Advisors LLC. Oak Coast is planning a $2 million capital improvement program for the property that includes a rebranding. Units average 959 square feet and are configured in both garden-style and townhome formats. Legacy Key’s amenity package includes controlled access gates, a clubhouse, business center, fitness center, two swimming pools, two lighted tennis courts, gazebo, picnic and grilling areas, car care center and a laundry facility.

November 11, 2014

Georgia Loans Southeast

Berkadia Originates $73.7M Acquisition Loan for Apartment Community in Metro Atlanta

by John Nelson November 10, 2014

SUWANEE, GA. — Berkadia Commercial Mortgage has arranged $73.7 million in acquisition financing for the Residences on McGinnis Ferry, a 696-unit multifamily community in metro Atlanta. The property is located at 4021 McGinnis Ferry Road in Suwanee. Matt Greer of Berkadia arranged the 10-year, floating-rate loan through Berkadia’s Fannie Mae program on behalf of the borrower, STAR McGinnis Ferry LLC, a subsidiary of Steadfast Apartment REIT Inc. The loan structure features five years of interest-only payments and a 30-year amortization schedule. Steadfast Apartment REIT purchased the multifamily development for $98.5 million. The apartment community was more than 96 percent occupied at the time of sale.

November 10, 2014

Georgia Mixed-Use Southeast

Duke Land Group Unveils Plans for Riverwalk Village in Roswell

by John Nelson November 10, 2014

ROSWELL, GA. — Duke Land Group has unveiled preliminary plans for Riverwalk Village, a 104-acre mixed-use development in Roswell. The project will be located between Georgia 400 and Old Alabama Road. Approximately 43 percent of the land will be preserved as open space, including parks, public spaces, pedestrian-oriented zones and a system of walking and biking trails that will connect Riverwalk Village and surrounding neighborhoods to the Chattahoochee River. The project’s developers plan to construct open channel streams to an existing lake on the site, which will be surrounded with boardwalks, restaurants and retailers. The Atlanta Regional Commission (ARC) will review the proposed site plan, which calls for 1,500 residential units, including single-family attached, multifamily and active adult housing; 490,000 square feet of general commercial real estate including retail, restaurant, entertainment and grocery; 1.7 million square feet of office space; a 200-room hotel; and 200,000 square feet of civic and institutional space including the Swift School, a school for children with language-based learning differences. Pending zoning and permits, construction is expected to begin in the fourth quarter of 2015.

November 10, 2014

Georgia Loans Southeast

Colliers Closes $11.6M Refinancing for Apartment Portfolio in Atlanta’s Castleberry Hill

by John Nelson November 6, 2014

ATLANTA — Colliers International has arranged an $11.6 million refinancing for a portfolio of three apartment communities totaling 143 units in Atlanta’s Castleberry Hill neighborhood. The properties — Stonewall Lofts, Legacy Lofts and Intown Lofts — currently have a 91 percent occupancy rate. H.J. Russell & Co. developed the four buildings between 1998 and 2003. Rod Mullice and Kevin Troy of Colliers International arranged the loan through Prudential Mortgage Capital Co. on behalf of the borrower, an affiliate of H.J. Russell & Co.

November 6, 2014

Georgia Office Southeast

Batson-Cook Breaks Ground on $36M Service Center for Blue Cross Blue Shield of Georgia

by John Nelson November 4, 2014

COLUMBUS, GA. — Batson-Cook Construction has broken ground on a high-tech, flagship service center for Blue Cross Blue Shield of Georgia (BCBSGA) in Columbus. The $36 million, 245,000-square-foot property will house up to 2,000 associates upon its completion in the third quarter of 2015. The three-story building will be located in Muscogee Technology Park. The Molasky Group is the developer and owner of the asset. The design team includes architect Hecht Burdeshaw Architects and interior designer The Dollries Group. Batson-Cook will also do the build-out for the asset, which includes a three-story atrium, dining room and fitness center. Savills Studley represented BCBSGA in the lease transaction with The Molasky Group.

November 4, 2014

Georgia Multifamily Southeast

Bell Partners Acquires Apartment Community in Metro Atlanta

by John Nelson November 3, 2014

WOODSTOCK, GA. — Bell Partners Inc. has acquired Alta Woods, a 498-unit apartment community in Woodstock, a northern suburb of Atlanta. Bell Partners will manage the community and will rename it Bell Woodstock. The property’s amenity package includes two clubhouses, WiFi access, two outdoor pools, a sand volleyball court, nine-hole putting green, outdoor playground, lighted tennis courts, two fitness centers, dog park and multiple grill and picnic areas. Bell Woodstock was more than 96 percent occupied at the time of sale.

November 3, 2014

Georgia Mixed-Use Southeast

$600M Avalon Opens for Business in Alpharetta

by John Nelson October 31, 2014

ALPHARETTA, GA. — Developer North American Properties (NAP), Alpharetta Mayor David Belle Isle and other dignitaries and business professionals officially opened Avalon for business yesterday morning. The $600 million development features single-family homes, chef-driven restaurants and national eateries, a Whole Foods Market, apparel retailers, a gym, 12-screen Regal theater, dog park and upscale apartment residences. Retail tenants include Arhaus, Banana Republic, Columbia, Everything But Water, J. Crew, lululemon athletica, Orvis, Pottery Barn Kids, Ted’s Montana Grill and West Elm. Phase II of Avalon, which has been approved for construction, includes 85,000 square feet of retail and restaurant space and is scheduled to open in fall 2016.

October 31, 2014

Georgia Industrial Southeast

Red Rock to Develop 200,000 SF Industrial Build-to-Suit for Hollander Sleep Products

by John Nelson October 31, 2014

THOMSON, GA. — Hollander Sleep Products has selected Red Rock Developments to construct its 200,000-square-foot manufacturing and warehouse facility in Thomson. The property will be Hollander’s 10th manufacturing facility in the United States. The company’s bedding products include Laura Ashley, Ralph Lauren, Beautyrest and Waverly.

October 31, 2014

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