Georgia

CBRE Arranges $55M Refinancing for Peachtree Battle Shopping Center in Atlanta

by John Nelson September 12, 2023

ATLANTA — CBRE has arranged a $55 million loan for the refinancing of Peachtree Battle Shopping Center, a 152,951-square-foot grocery-anchored center located at 2333-2365 Peachtree Road NE in Atlanta. Situated on 12.6 acres in Atlanta’s Buckhead district, the three-building shopping center was fully leased at the time of sale to tenants including Publix, Walgreens, Ace Hardware, CAVA and Onward Reserve. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE Capital Markets’ Debt & Structured Finance team in Atlanta arranged the loan through Thrivent Financial on behalf of the borrower, Branch Properties.

September 12, 2023

Acquisitions Georgia Loans Southeast Student Housing

BWE Arranges Acquisition Financing for 456-Bed Student Housing Community in Metro Atlanta

by John Nelson September 11, 2023

MARIETTA, GA. — BWE has arranged financing for the acquisition of The Beacon, a student housing community located near Kennesaw State University’s Marietta campus, roughly 20 miles outside Atlanta. Situated at 315 Freys Gin Road, the property totals 456 beds across 158 units. Residences at the community feature private bedrooms and bathrooms, as well as full-size washers and dryers, and amenities include high-speed Wi-Fi, package delivery lockers, a yoga room, private study rooms, 24-hour fitness center, free parking and a swimming pool. Chris Carroll and Max Miller of BWE secured the financing on behalf of the buyer, Campus Realty Advisors. Campus Realty Management, a division of Campus Realty Advisors, will manage The Beacon.

September 11, 2023

Development Georgia Industrial Southeast

McShane Completes 181,477 SF Distribution Facility in Douglasville, Georgia for Home Chef

by John Nelson September 8, 2023

DOUGLASVILLE, GA. — McShane Construction Co. has completed the construction of a 181,477-square-foot distribution facility located in Douglasville. Built for Home Chef, the property features 19,722 square feet of freezer space, 18,520 square feet of cooler space, a 10,000-square-foot kitchen and 20 cold dock positions. The facility will be used to process, store and distribute Home Chef’s meal kits. JLL acted as representative for the owner, and Harris Architects served as the project architect.

September 8, 2023

Acquisitions Georgia Multifamily Southeast

Northland Acquires 344-Unit Multifamily Community Near Atlanta

by John Nelson September 8, 2023

LITHIA SPRINGS, GA. — Northland has acquired 670 Thornton, a 344-unit multifamily community located in Lithia Springs, roughly 15 miles west of Atlanta. Totaling 38 residential buildings situated on 46 acres, the property features 20 studio, 146 one-bedroom, 154 two-bedroom and 24 three-bedroom apartments. Amenities include a fitness center, business center, grilling areas, pet park, two pools, theater room, playground, tennis courts and a walking trail, as well as 96 detached garages. Northland plans to implement a valet trash program and SmartRent technology package, install washers and dryers in all units and upgrade finishes in select apartments, along with other site improvements.

September 8, 2023

Development Georgia Industrial Southeast Top Stories

Pratt Industries Plans $120M Manufacturing Facility in Warner Robins, Georgia

by Jeff Shaw September 8, 2023

WARNER ROBINS, GA. — Pratt Industries Inc., a Georgia-based recycled paper and packaging company, has released plans for a new production facility in the Middle Georgia city of Warner Robins, approximately 100 miles southeast of Atlanta. The new factory is expected to create more than 125 jobs and cost over $120 million to build. The development will comprise 496,000 square feet and produce corrugated boxes using recycled containerboard. The containerboard will be largely sourced from the company’s mill in Conyers, Georgia. The property is scheduled for completion in late 2024. The new facility will be Pratt Industries’ 13th site in Georgia. According to the office of Governor Brian Kemp, the project will bring the company’s total investment in Georgia to over $800 million. “We’re very honored to be coming to Warner Robins and we’re committed to the great state of Georgia — in fact, Georgia is where our company began,” says Anthony Pratt, global executive chairman for Pratt Industries. “This will bring Pratt’s total workforce in Georgia to over 2,100 employees and 11,700 nationwide.” The property is located at Robins Industrial Park within the Peach County portion of the city, on a Georgia Ready for Accelerated Development (GRAD) certified site. The …

September 8, 2023

Build-to-Rent Development Georgia Loans Single-Family Rental Southeast

JLL Arranges $26.8M Construction Loan for Build-to-Rent Residential Project in Loganville, Georgia

by John Nelson September 7, 2023

139-home build-to-rent (BTR) residential community located at 2882 Rosebud Road in Loganville. Matthew Putterman, Danny Kaufman, Chris Knight and Ware Shipman of JLL represented the sponsor, a joint venture between Landeavor and LAMB Properties, to secure the five-year, floating-rate loan through a regional bank. Upon completion, Rosebud Place will include three- and four-bedroom homes ranging from 1,833 to 1,854 square feet. Homes will feature stainless steel appliances, in-home washers and dryers and attached two-car garages, and community amenities will include a resort-style pool, large dog park, children’s play area and walking trails.

September 7, 2023

Conference Coverage Features Georgia Multifamily Seniors Housing Southeast

InterFace Panel: Seniors Housing Developers Must Get Creative in Sourcing Financing, Changing Up Product Mix

by Kristin Harlow September 7, 2023

ATLANTA — Charlie Jennings, chief development officer with Vero Beach, Fla.-based Harbor Retirement Associates, said he would challenge the “Stay alive until ‘25” mantra that some real estate professionals are touting amid today’s economic uncertainty. The phrase is a play on the late billionaire investor Sam Zell’s remarks amid the downturn in 1991 when he coined the mantra “Stay alive until ’95.” “I do not agree with that at all; that insinuates that we’re just going to sit on our hands as an industry and wait for somebody else to turn the lights back on,” said Jennings. “Our industry will continue to grow, push forward and be innovative, and build relationships outside the normal REIT and private equity model that we’ve all grown accustomed to.” Jennings’ remarks came during the development outlook panel at the 10th annual InterFace Seniors Housing Southeast, a conference hosted by France Media’s InterFace Conference Group and Seniors Housing Business on Wednesday, Aug. 16 at the Westin Buckhead in Atlanta. Todd Hudgins, senior vice president of senior living for Madison, Wisconsin-based ERDMAN, moderated the panel. Jennings went on to say that while it is tough to get a deal done right now, eventually it will get …

September 7, 2023

Georgia Loans Office Southeast

Morning Calm Originates $59M Refinancing for 8West Office Building in West Midtown Atlanta

by John Nelson September 6, 2023

ATLANTA — Morning Calm Office Finance, a joint venture between Morning Calm Management and an unnamed global investment manager, has originated a $59 million loan for the refinancing of 8West, a new creative office building in Atlanta’s West Midtown district. Completed in 2020, the 193,000-square, nine-story building is located at 889 Howell Mill Road. The borrower, The Atlantic Cos., is using the loan to refinance the maturing construction debt on the property. The property features a fitness facility, rooftop deck and catering kitchen, common collaborative spaces and conference facilities and an outdoor public plaza. Ford Motor Co. is a major tenant at 8West.

September 6, 2023

Development Georgia Multifamily Southeast Student Housing Top Stories

Core Spaces Opens 792-Bed Student Housing Community Near Georgia Tech in Atlanta

by Kristin Harlow September 6, 2023

ATLANTA — Core Spaces has opened Hub Atlanta, a 792-bed student housing community located near the Georgia Tech campus in Atlanta’s Midtown neighborhood. The 19-story property offers 292 units in studio through six-bedroom configurations. Amenities include a fitness center, coworking spaces, private study lounges, a rooftop pool deck with a hot tub, dog park, 6,990 square feet of ground-floor retail space and a four-story parking garage. New Here Coffee operates a coffee shop. Curioso provided interior design services alongside Core’s in-house design team. Hartshorne Plunkard Architecture served as the architect, and Juneau Construction Co. was the general contractor. Core Spaces is managing the community. Residents recently moved in for the 2023-2024 school year, and leasing is now open for next year. Core Spaces focuses on developing, buying and managing student housing and build-to-rent communities. The firm maintains offices in Austin and Chicago. — Kristin Harlow and Katie Sloan

September 6, 2023

Georgia Leasing Activity Retail Southeast

Terra Alma Begins Leasing 11,000 SF of Retail Space at EmmaJames at Savannah Harbor

by Hayden Spiess September 5, 2023

SAVANNAH, GA. — Terra Alma has begun leasing the retail space at a master-planned development currently underway in Savannah. Totaling 11,000 square feet, the space is situated within the EmmaJames at Savannah Harbor property along the Savannah River on Hutchinson Island, which also features apartments and townhomes. Amenities at the development will include a marina and outdoor concert theater. An undisclosed seafood concept has signed the first retail lease.

September 5, 2023

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