DOUGLAS COUNTY, GA. — DC Blox has obtained $1.15 billion in construction financing for a new data center campus coming to Douglas County, which sits west of Atlanta. ING Capital LLC, Mizuho Bank Ltd. and Natixis Corporate & Investment Banking served as lead arrangers and joint bookrunners for the financing package. Other participating capital sources include First Citizens Bank, CoBank ACB, LBBW, Toronto-Dominion Bank, KeyBank and Huntington National Bank. The funds will support the development of a 120-megawatt (MW) data center and include campus expansion to support an additional 80 MW of space. The financing follows DC Blox securing a $265 million green loan and equity from Post Road Group for the project. DC Blox expects the campus, which will be utilized by cloud and AI users, to be available as early as 2027. The developer and operator has a data center underway in the county, as well as in Conyers, Ga., with a few more scattered around the Southeast.
LAWRENCEVILLE, GA. — North Carolina-based Prudent Growth Partners has acquired Sugarloaf Village, a 32,000-square-foot shopping center located in Lawrenceville, for $7.3 million. The seller was not disclosed. Situated approximately 30 miles northeast of downtown Atlanta, the property was originally built in 2008 and features a mix of 17 tenants including lifestyle retailers and service providers such as a nail salon, pet groomer and barber shop. Other nearby retailers include AT&T, Starbucks Coffee, Publix, Target, Marshalls, Aldi, The Home Depot, PetSmart, Hobby Lobby and Panera Bread.
SANDY SPRINGS, GA. — Life Time, a leading healthy lifestyle fitness brand, has opened its ninth athletic club in Atlanta in the northern suburb of Sandy Springs. Situated between the “King and Queen” office towers along the confluence of I-285 and Ga. Highway 400, Life Time Perimeter transformed the former Concourse Athletic Club into a three-story, 79,000-square-foot facility. The multimillion-dollar renovation includes eight outdoor pickleball courts, five tennis courts and a beach club-style swimming pool area. Other facilities include an expansive fitness floor with cardio equipment, resistance machines and free weights, as well as a recovery space that features water massage and cold therapy chairs. The club also offers more than 100 classes weekly, including barre, yoga and Pilates, a LifeCafe and a Kids Academy. Life Time Perimeter joins other area athletic clubs in the Atlanta submarket including Alpharetta, Sugarloaf, Johns Creek, Woodstock, Peachtree Corners, Buckhead and North Druid Hills, which opened in December 2024.
AUBURN AND PORT WENTWORTH, GA. — Dwight Mortgage Trust has financed two bridge loans totaling $44.3 million for two new build-to-rent (BTR) communities in Georgia. The assets include The Station at Kentmere in Auburn and Waterside at Rice Hope in Port Wentworth. The borrower was ARK Homes for Rent. The Station at Kentmere is a 149-unit townhome community featuring three-bedroom residences, all with one-car garages and two-and-a-half bathrooms. Amenities include a modern clubhouse with an indoor lounge, fitness center, resort-style pool with sun deck, outdoor entertainment and picnic areas and grilling stations. Waterside at Rice Hope comprises 103 three-bedroom townhomes, each with two-and-a-half-bathrooms and one-car garages. Amenities include a clubhouse, playground, lap pool, lazy river, fishing pond and grilling areas.
ATLANTA — Marcus & Millichap has brokered the sale of Central Park Apartments, a 280-unit community located at 2900 Camp Creek Parkway in southwest Atlanta. Built in 1969, Central Park sits on a 23-acre lot near Hartsfield-Jackson Atlanta International Airport in the city’s Camp Creek neighborhood. The property comprises 143 one-bedroom and 137 two-bedroom apartments. Scott Spalding of Marcus & Millichap’s Atlanta office represented the seller in the transaction. Marco Welch, also with Marcus & Millichap, procured the value-add buyer. Both parties requested anonymity. Marcus & Millichap’s Joe Mitchell helped facilitate the transaction.
ATLANTA — CP Group has executed more than 47,000 square feet of leases at Cumberland Center II, a 421,000-square-foot, 17-story office building in Atlanta’s Cumberland-Galleria office submarket. Jeff Bellamy and Brooke Dewey of JLL represented the Boca Raton, Fla.-based landlord in each transaction. The deals included a 17,300-square-foot lease with C.H. Robinson, a logistics operations firm represented by Tim Wright of Cushman & Wakefield; a 13,200-square-foot lease with Mikart, a pharmaceutical manufacturing company represented by Ryan Hudson of CBRE; a nearly 5,000-square-foot spec suite deal with Young Management and Consulting, a professional services provider represented by Austin Donaldson and Corey Ferguson of T. Dallas Smith; a 3,200-square-foot spec suite deal with Applied Economics, a financial services firm represented by Henry Kreimer and Dan Granot of Savills; a 2,300-square-foot lease for a spec suite with Setty, an engineering consulting firm represented by Jody Selvey and Meredith Selvey of Colliers; and a 6,200-square-foot expansion for spec suite space with JM Huber, a national producer of consumer and industrial products. CP Group recently completed a major capital improvements program at Cumberland Center II that included a lobby renovation, new tenant lounge and a 100-seat conference facility.
BETHESDA, MD. AND ATLANTA — Elme Communities (NYSE: ELME), a Maryland-based multifamily owner-operator that previously operated as WashREIT, has entered into a purchase and sale agreement with an affiliate of Cortland Partners, an Atlanta-based multifamily investment and management firm. Under the terms of the transaction, Elme would sell 19 apartment communities to Cortland for $1.6 billion in an all-cash deal. “We are pleased to have reached an agreement with Cortland that recognizes the greater value of these 19 Elme communities and their long-term potential when coupled with Cortland’s economies of scale,” says Paul McDermott, president and CEO of Elme. “We believe Cortland will be an excellent steward of the properties and that this sale will facilitate a seamless transition of ownership, enabling continuity of operations for our residents and community teams.” Steven DeFrancis, CEO of Cortland, said that the portfolio will grow the company’s presence in the Washington, D.C., region and in its home state of Georgia. “We’re excited to welcome these communities into the Cortland family and deliver the exceptional living experience residents have come to expect from our brand,” says DeFrancis. The properties include: Goldman Sachs & Co. LLC and Jones Lang LaSalle Securities LLC are acting as …
ATLANTA — JLL Capital Markets has negotiated the $39 million sale of 12th & James, a 214-unit luxury apartment complex in Atlanta’s Upper Westside neighborhood. While all units will be dedicated to long-term affordable housing under the new ownership, half of the apartments will be specifically reserved for families earning up to 80 percent of the area median income (AMI). An agreement with the Atlanta Urban Development Corp. ensures the units will remain affordable for at least 25 years. Situated along 1212 James Jackson Parkway NW, the complex was originally built in 2002 and features 189 partially renovated units and 25 original apartments spanning one-, two- and three-bedroom floorplans. The partially renovated units include upgrades such as white cabinetry, new countertops, tile backsplashes, stainless steel appliances, Nest thermostats and smart home features. Community amenities include a resort-style swimming pool, fitness center, business center, outdoor kitchen and an off-leash dog park. John Weber, Peter Yorck, Nick Brown and Dean Shoham of JLL’s Investment Sales and Advisory team represented the seller, Aspen Square Management, in the transaction. The buyer was EQ Housing Advisors Inc., who partnered with Atlantica Properties to convert the property into long-term affordable housing.
ATLANTA — Tom Cousins, an Atlanta-based real estate developer, professional sports supporter and philanthropist, has died at the age of 93 while hospitalized in Florida, according to multiple media outlets. After starting his real estate career selling $11,000 houses with his father in the late 1950s at a firm called Knox Homes, Cousins founded Cousins Properties Inc. in 1958 at 26 years old. The small homebuilding company experienced rapid growth, launching an initial public offering (IPO) in 1962 and solidifying its position as the state’s largest homebuilder by 1964, while soon expanding to office development in 1965. The company transitioned to a real estate investment trust (REIT) in 1986. Today, the company stands as a preeminent office REIT in the Sun Belt, with office buildings in Atlanta, Austin, Charlotte, Dallas, Nashville and Phoenix. Cousins’ most notable achievements include the development of Bank of America Plaza in Midtown Atlanta; 191 Peachtree, the CNN Center and Omni Coliseum in downtown Atlanta; and the Pinnacle Building in Buckhead. Cousins, along with former retail head Joel Murphy, also pioneered The Avenue open-air retail concept, opening several retail and dining destinations in the suburbs of Atlanta in the late 1990s and early 2000s. Cousins also …
Carter, Front Street Break Ground on 521-Bed Student Housing Development Near Wake Forest University
WINSTON-SALEM, N.C. — A joint venture between Carter and Front Street Capital has broken ground on Creekside at The Grounds, a 521-bed student housing development located near the Wake Forest University campus in Winston-Salem. The community will be part of Phase I of The Grounds, a 100-acre mixed-use project under development by the partnership. The $215 million first phase of construction is also set to include an office building and a retail village. Creekside at the Grounds will offer 229 fully furnished units with bed-to-bath parity. The community will also feature a clubhouse with study rooms and a fitness center, as well as an outdoor swimming pool, kitchen and entertainment area. The project is scheduled for completion in fall 2027. The design-build team includes The Preston Partnership (architect), Brasfield & Gorrie (general contractor) and Stimmel Associates (engineer of record). Carter and Front Street Capital’s financial partners on Creekside are Kayne Anderson Real Estate and Truist Financial Corp.