Tuesday, April 7, 2026
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DevelopmentGeorgiaLoansMultifamilySoutheast

JLL Arranges Financing for 31-Story 1405 Spring Apartment Project in Midtown Atlanta

by John Nelson

ATLANTA — JLL Capital Markets has arranged construction financing for 1405 Spring, a 326-unit high-rise apartment tower in Midtown Atlanta. Ed Coco, Matt Casey and Kelsey Bawcombe of JLL arranged the full capital stack for the project through Manulife Investment Management on behalf of the developer, a joint venture between JPX Works and Zeller. The 31-story 1405 Spring will offer studio, one-, two- and three-bedroom units, as well as luxury penthouses. The building’s 21 residential levels will sit atop a ground-level lobby, eight-level parking garage and amenities. Features will include multiple indoor lounge areas, coworking spaces, a fitness center, yoga and meditation studio, pool, sundeck and covered outdoor lounge with firepits. 1405 Spring will be situated at the southeast corner of 18th and Spring streets, just blocks from the Arts Center MARTA station. The neighborhood is home to the Woodruff Arts Center, MODA and the Center for Puppetry Arts. The high-rise will replace a vacant, single-level commercial building that most recently served as The John Marshall Law School’s Blackburn Conference Center.

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AcquisitionsGeorgiaNet LeaseRestaurantSoutheast

Marcus & Millichap Brokers $3.5M Sale of Metro Atlanta Restaurant Site Leased to Chick-fil-A

by John Nelson

SUWANEE, GA. — Marcus & Millichap has brokered the $3.5 million sale of a single-tenant, net-leased restaurant in metro Atlanta ground leased to Chick-fil-A. Built in 2007, the property is located on a 1.2-acre lot at 1035 Peachtree Industrial Blvd. in Suwanee. A locally based, privately held buyer purchased the restaurant through a 1031 exchange in an all-cash transaction. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group brokered the deal. “This transaction demonstrates the strong demand for trophy net-lease assets and the peak pricing they are commanding despite inflation and interest rate hikes,” says McMinn.

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DevelopmentFloridaMultifamilySoutheastTop Stories

LCOR Acquires Residential Development Site in Miami, Plans 40-Story Condo Tower

by Jeff Shaw

MIAMI — Development firm LCOR has acquired 1775 Biscayne Boulevard, a development site located two blocks from Biscayne Bay in downtown Miami. Plans call for a 40-story, 540-unit residential building that will be situated on the border of the Arts & Entertainment District and Edgewater neighborhood. Units will be available in studio, one- and two-bedroom options. Construction on the condominium project is scheduled to begin in early 2024 for completion in 2026. “Miami [is] a highly competitive land market currently on the cusp of a transformational development surge,” says Brad Capas, executive director of Cushman & Wakefield Capital Markets. “Located at the center of one of Miami’s most exciting growth corridors, 1775 Biscayne will aid in producing critically needed residential offerings between the Miami World Center and Midtown districts.” Unit features will include stainless steel appliances, in-unit washers and dryers and quartz countertops. Communal amenities will feature a fitness center; rooftop pool deck; outdoor terrace and grilling space with views of Biscayne Bay and downtown Miami; tenant lounges equipped with flexible coworking spaces and conference rooms; over 600 onsite parking spaces; and package retrieval services. The project was originally proposed in 2017 and included 14,000 square feet of ground-floor retail …

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FloridaMarket ReportsMultifamilySoutheastSoutheast Market Reports

Tenant, Investor Demand Propels South Florida’s Multifamily Market to New Peak

by John Nelson

Miami’s multifamily market slowed down dramatically at the start of COVID-19 and now has quickly rebounded to record levels. Collections and occupancies are excellent, new supply is quickly absorbed, population/household growth is on fire, the job market has largely rebounded, wages are up, home prices are at record levels — meaning more people are renting — and limited land is keeping construction in balance. Going forward, the market is ideally positioned for continued long-term growth thanks to positive market fundamentals and continued strong sales activity. Demand for rentals was strong pre-pandemic and will grow even greater in the post COVID-19 era as South Florida continues to increase its resident count. Between 2020 and 2021, South Florida added 42,842 residents, including 14,318 new residents in Miami-Dade County. With the influx of residents, South Florida is expected to have over 37,000 new households created each year over the next five years. That represents over 14,800 new renters per year, assuming 60 percent of households enter homeownership and 40 percent rent, which is in line with historical ratios. Record year for sales 2021 was a record-setting year for the South Florida multifamily market. The region experienced 603 multifamily sales totaling $11.4 billion, which …

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Affordable HousingDevelopmentDistrict of ColumbiaMultifamilySoutheast

Ares Management, MRP Realty to Develop 1,200-Unit Mixed-Income Neighborhood in D.C.

by John Nelson

WASHINGTON, D.C. — Ares Management Corp. and MRP Realty have finalized the land purchase and Phase I construction financing for a mixed-income residential development on the site of the current home of the District of Columbia Housing Authority (DCHA) in Washington, D.C. Arkansas-based Bank OZK provided acquisition and construction financing. Construction is slated to begin immediately, with Phase I delivery anticipated in 2024. The project is a joint venture between Ares Management Real Estate funds, MRP Realty, CSG Urban Partners and Taylor Adams Associates. Located at 1133 N. Capitol Street NE in the city’s NoMa neighborhood, Phase I will comprise 430 multifamily units, including 86 affordable units. The multi-phased development will comprise an estimated 1,200 apartments, including a minimum of 244 affordable housing units, at least half of which will be reserved for residents earning 30 percent or less of the area median income. Located two blocks west of the NoMa Metro station, the 0.8-acre plot will give DCHA funding to address its portfolio-wide capital needs and fund a much-needed new headquarters building that will serve DCHA staff and residents. DCHA’s headquarters will now move into the new WMATA headquarters building at 300 Seventh St. SW, where it will occupy …

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AcquisitionsLouisianaRetailSoutheast

JRW Realty Brokers $84M Sale of Six Stores in Louisiana Net Leased to Walmart

by John Nelson

PASADENA, CALIF. — JRW Realty, a Pasadena-based commercial real estate brokerage firm, has arranged the sale of six single-tenant retail stores in Louisiana net-leased to Walmart Neighborhood Market. Jennifer Rodriguez Ventura of JRW Realty represented the buyer, an unnamed institutional investor that purchased the portfolio for $84 million. Alex Sharrin of JLL represented the undisclosed seller. The six stores are located in the southern or coastal Louisiana towns of Meraux, Houma, Prairieville, New Iberia, Opelousas and Thibodaux. All purchases have single-tenant net leases in place, with individual prices ranging from $11.8 million to just under $16.5 million. The stores average approximately 43,000 square feet and the total square footage of the six stores is 257,427.

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Hartland-Station_Atlanta
Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Wendover Housing Opens 131-Unit Hartland Station Affordable Housing Community in Atlanta

by John Nelson

ATLANTA — Wendover Housing Partners has opened Hartland Station, a new affordable housing community in Atlanta. The 131-unit property is located at 2040 Fleet St., south of downtown Atlanta in the city’s Sylvan Hills neighborhood. The community aims to address the ongoing issue of available affordable housing in Atlanta, where there are approximately only 27 available affordable homes per 100 low-income renters, according to Wendover Housing. Hartland Station consists of one-, two- and three-bedroom units and features amenities such as a business center, fitness center, activity room with kitchen, splash pad and a playground. Rents start at $861 per month. The $28 million community was made possible with help from partners including the Georgia Department of Community Affairs with nearly $1 million in Low Income Housing Tax Credit (LIHTC) equity, $1.5 million in bonds from Invest Atlanta (the city’s economic development authority) and $1.3 million in grant funding from the Metropolitan Parkway tax allocation district. Financing also included $18.8 million in tax-exempt bonds.

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GeorgiaIndustrialLeasing ActivitySoutheast

Automotive Distributor Signs 367,000 SF Industrial Lease in Metro Atlanta

by John Nelson

HIRAM, GA. — Automann Inc., a global distributor of truck and trailer chassis and brake components, has signed a 367,000-square-foot industrial lease within Silver Comet Industrial Park in Hiram. The New Jersey-based firm is expected to bring 150 jobs to the Paulding County area, which sits west of Atlanta along U.S. Route 278 and State Route 92. Automann is occupying all of Building I, which is the first of six facilities planned at the 128-acre industrial complex. Silver Comet Industrial Park’s landlord is SK Commercial Realty, Goldenrod Cos. and Paulding County Economic Development. The ownership will break ground on the facility, which will feature 36-foot clear heights and 29 dock doors, in the coming months.

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AcquisitionsGeorgiaHospitalitySoutheast

Hodges Ward Elliott Arranges Sale of 112-Room Hampton Inn Hotel in Athens, Georgia

by John Nelson

ATHENS, GA. — Hodges Ward Elliott (HWE) has arranged the sale of Hampton Inn Athens, a 112-room hotel located at 2220 W. Broad St. in Athens. Built in 1995, Hampton Inn Athens is situated about three miles west of the University of Georgia, downtown Athens and the Classic Center, the city’s premier convention center. The hotel features digital keys, pet-friendly rooms, an outdoor swimming pool, fitness center, business center and complimentary breakfast. Clint Hodges, B.J. Patel and Michael Brandes of HWE represented the seller, Germantown, Tenn.-based McNeill Hotel Co., in the negotiations. The undisclosed buyer purchased the hotel.

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AcquisitionsMultifamilyNorth CarolinaSoutheastTop Stories

ZOM Living Sells Hazel SouthPark Apartments in Charlotte for $130.8M

by John Nelson

CHARLOTTE, N.C. — ZOM Living has sold Hazel SouthPark, a 203-unit mid-rise apartment community in Charlotte that the firm delivered last year. The property includes 14,000 square feet of retail space that was fully leased at the time of sale. An undisclosed buyer purchased the asset for $130.8 million, establishing a new record high price per unit for a multifamily community in North Carolina when adjusting for the value of the retail space. Eastdil Secured represented ZOM Living in the transaction. “This is a significant sale that reflects the level of design and construction quality of our newest development, the desirability of the SouthPark neighborhood and the strength of Charlotte’s multifamily market,” says Greg West, CEO of ZOM Living. “Since we delivered this property in 2021, we have seen tremendous leasing activity and achieved premium rents within a few months of its opening. The sale of this asset is in line with our plan to continue to invest in developing future multifamily properties in the Charlotte market and beyond,” adds West. Hazel SouthPark is situated within Charlotte’s SouthPark neighborhood, an office submarket about six miles south of the city’s central business district that is anchored by Simon’s SouthPark Mall, which …

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