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The capital markets panel at the 2024 InterFace Multifamily Southeast conference
Conference CoverageFeaturesFinanceGeorgiaSoutheast

InterFace Panel: Multifamily Markets Can Work With New Interest Rate Ranges

by Channing Hamilton

ATLANTA — There is nothing wrong with the new interest rate environment that currently governs capital markets activity in commercial real estate, and borrowers just need to adjust their expectations, put them into historical context and get back to making deals. This is the view of at least a couple veteran lenders who spoke at the InterFace Multifamily Southeast conference on Dec. 4 at the Cobb Galleria Centre in Atlanta. The event is now in its 15th year and continues to attract hundreds of multifamily developers, investors and lenders from …

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The investment sales panel at InterFace Multifamily Southeast
Conference CoverageFeaturesGeorgiaNewsSoutheast

InterFace: Multifamily Investors Are Bullish on 2025 Sales Market, Though Many Hurdles Will Carry Over into New Year

by Channing Hamilton

Speakers on the investment sales panel at the annual InterFace Multifamily Southeast conference were overall bullish on the sector’s investment prospects in the new year. The event, now in its 15th year, was held on Wednesday, Dec. 4 at the Cobb Galleria Centre in Atlanta. To kick off the panel, moderator Paul Berry, president and COO of Mesa Capital Partners, discussed what a recovery could look like in terms of investment sales volume. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real …

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Union Green in Union City, Georgia
DevelopmentGeorgiaNewsSoutheast

Woodfield Development Delivers 295-Unit Community in Union City, Georgia

by Channing Hamilton

UNION CITY, GA. — Woodfield Development has completed Union Green, a 295-unit project located at 4980 Stonewall Tell Road in Union City, about 18 miles southwest of Atlanta. The community offers a mix of one-, two- and three-bedroom units, which average 741 to 1,573 square feet. Amenities include a pool with a sun lounge area, club lounge, demonstration kitchen, outdoor social commons with a grilling area, fitness studio and sky lounge. The development team for Union Green included general contractor CBG Building Co., architect of record Fifth Dimension Architecture and …

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Lakeshore Mall redevelopment in Gainesville, Georgia
DevelopmentGeorgiaNewsSoutheast

Branch Properties Plans Mixed-Use Redevelopment of Lakeshore Mall in Gainesville, Georgia

by Channing Hamilton

GAINESVILLE, GA. — Branch Properties has planned a redevelopment of Lakeshore Mall, a 492,798-square-foot retail property in Gainesville, about 55 miles northeast of Atlanta. Plans for the redevelopment include 652 apartments, as well as 305,444 square feet of retail space and 38,200 square feet of community green spaces. The mixed-use property will also have the capacity for the future development of a hotel and townhomes. Branch Properties, which acquired the property in 2022, will initiate the development of the regional impact process with the Georgia Department of Community Affairs imminently. Gainesville …

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Affordable HousingCompany NewsDevelopmentGeorgiaNewsSoutheast

Lockwood Cos. Opens New Office in Brunswick, Georgia

by Channing Hamilton

BRUNSWICK, GA. — Lockwood Cos., an affordable housing developer based in Southfield, Michigan, has opened a new office in Brunswick, about 80 miles south of Savannah, Georgia. According to Lockwood, the office will support the company’s development initiatives to create more affordable housing for families and seniors in the region. Lockwood’s first local project will be a 40-unit affordable housing community for seniors in Albany, a city in southwest Georgia. The company plans to break ground on the project in early 2025.

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Villas at Princeton Lakes in Atlanta
GeorgiaInvestment SalesNewsSoutheast

FCP Sells Villas at Princeton Lakes in Atlanta for $36.8 Million

by Channing Hamilton

ATLANTA — FCP has sold Villas at Princeton Lakes, a 210-unit community located at 751 Fairburn Road SW in Atlanta. A partnership between Monday Properties and RSN Property Group purchased the asset for $36.8 million. Travis Presnell and James Wilber of Cushman & Wakefield represented FCP in the transaction. Villas at Princeton Lakes was constructed in 2004. The garden-style community offers one-, two- and three-bedroom floor plans. FCP originally acquired the property in late 2020 for $30 million, including the assumption of an existing mortgage, and implemented upgrades to the property’s …

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Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

Advantage Capital Provides $53 Million in Financing for Three Affordable Housing Projects in Metro Atlanta

by Channing Hamilton

ATLANTA AND LAWRENCEVILLE, GA. — Advantage Capital has leveraged roughly $53 million in state Low-Income Housing Tax Credits to finance the development of three communities in the Atlanta metropolitan area. The properties total 623 apartments, which will be available to families and seniors earning at or below the area median income. Zimmerman Properties will use the financing to develop The Flats at Stone Hogan, a $99.9 million, 256-unit project, and The Villas at Stone Hogan, a $68.9 million, 192-unit complex for seniors over the age of 55. Both properties are …

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Sovereign Apartments in Fort Worth, Texas
FloridaGeorgiaInvestment SalesKentuckyNew YorkNewsNortheastSouth CarolinaSoutheastTennesseeTexas

West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton

NEW YORK CITY — Newmark has arranged a $533 million loan for the refinancing of a portfolio spread across six states in the Sun Belt. Boston-based investment firm West Shore was the borrower. Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore.  The portfolio totals 2,806 units across nine garden-style properties. The assets include: Newmark is headquartered in New York City. The company also recently announced an assignment to market 10 multifamily …

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903 Peachtree in Atlanta
GeorgiaInvestment SalesNewsSoutheast

Waterton Acquires 32-Story 903 Peachtree in Midtown Atlanta

by Channing Hamilton

ATLANTA — Waterton has purchased 903 Peachtree, a 32-story apartment tower located at 903 Peachtree St. in Atlanta’s Midtown neighborhood. The seller and sales price were not disclosed, but Atlanta Business Chronicle reported that the asset traded for $118.6 million. 903 Peachtree features 427 apartment units, as well as 46,000 square feet of amenity space. Units come in studio, one-, two- and three-bedroom floor plans. The property also includes 7,843 square feet of retail space. Residents have access to outdoor amenities such as a rooftop pool and lounge area, grilling stations, private cabanas …

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Grover Landing in Warner Robins, Georgia
Build-to-RentDevelopmentFinanceGeorgiaNewsSoutheast

Parkland Residential Secures $57 Million Refinancing for Build-to-Rent Development in Warner Robins, Georgia

by Channing Hamilton

WARNER ROBINS, GA. — Parkland Residential has secured $57 million in financing for Grover Landing, a 317-unit build-to-rent development currently underway in Warner Robins, approximately 20 miles south of Macon, Georgia. The loan will be used to refinance the units that have already been completed at the community. Grover Landing offers two-, three- and four-bedroom residences. Amenities include a pool with a cabana, playground, pocket parks and a playfield, as well as yard maintenance, pest control, home repairs and appliances. Avi Kozlowski, Thomas Wayda and Dante Distefano of Greystone arranged …

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