Georgia Archives

An apartment community in Glen Mills, Pennsylvania

Equus Capital Partners Acquires Six-Property, Multi-State Portfolio for $220 Million

by Channing Hamilton January 24, 2024

PHILADELPHIA, ATLANTA, RALEIGH AND ST. LOUIS — Equus Capital Partners (Equus) has acquired Project Big Timber, a portfolio that totals 1,249 units across six garden-style communities in the Atlanta, Philadelphia, Raleigh and St. Louis metropolitan areas. Equus purchased the portfolio for $220 million. Newmark’s Debt Capital Markets team of Steve Comly and Kippy Donovan assisted Equus in securing a ten-year fixed rate loan from Fannie Mae for the acquisition. The communities included in Project Big Timber have an average vintage of 1984 and an average unit size of 989 square-feet. …

January 24, 2024

Affordable Housing Finance Georgia News Southeast

BWE Originates $14.2 Million Freddie Mac Loan for Villages at Carver in Atlanta

by Channing Hamilton January 18, 2024

ATLANTA — BWE has originated a $14.2 million Freddie Mac Forward tax-exempt loan for Villages at Carver, a 220-unit mixed-income community in Atlanta. The borrower was not disclosed. The loan will be used to fund renovations and permanent financing for the garden-style community. The loan features an 18-year fixed rate with two years of interest-only payments and has a 40-year amortization. As part of the recapitalization of the property, the Georgia Department of Housing and Community Affairs also allocated new four percent Low-Income Housing Tax Credits. Villages at Carver is …

January 18, 2024

Georgia Investment Sales News Southeast

Cushman & Wakefield Arranges Sale of 303-Unit Harlow in Atlanta Suburb

by Channing Hamilton January 12, 2024

SMYRNA, GA. — Cushman & Wakefield has negotiated the sale of Harlow, a recently-completed community in the Atlanta suburb of Smyrna. RA Capital Partners purchased the asset from South City Partners for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay, and Sim Patrick of Cushman & Wakefield represented the seller in the deal. Harlow offers 303 units, as well as more than 6,000 square feet of amenity space. The property is situated nearby The Battery, a mixed-use entertainment district and home of the Atlanta Braves.

January 12, 2024

Georgia Leasing & Marketing News People News Southeast

PeakMade Real Estate Selects Sam Owens as Vice President of Multifamily Operations

by Channing Hamilton January 4, 2024

ATLANTA — Atlanta-based PeakMade Real Estate (PeakMade) has promoted Sam Owens to the role of regional vice president of multifamily operations. In this role, Owens will be responsible for overseeing all property operations, client relations and regional managers for PeakMade’s multifamily portfolio. Owens has worked with PeakMade for over 12 years. She began her career as a part-time leasing consultant and has served in on-site leadership roles such as leasing manager, assistant manager and property manager. Most recently, she worked as a regional manager for three years, supporting operations for …

January 4, 2024

Development Finance Georgia Investment Sales Market Reports Southeast

Atlanta’s Supply Surge Coming to a Halt

by Channing Hamilton January 2, 2024

Atlanta has experienced a dip in rents amid a surge of supply. The number of deliveries in the third quarter of this year increased 63 percent compared with the same period in 2022. Most data sources indicate about 15,000 units have been delivered so far this year, but only about 5,000 have been absorbed. In short, new supply is greatly outpacing tenant demand, and effective rents fell on a year-over-year basis as of the third quarter. Still, industry experts say this is likely only a temporary condition with developers struggling …

January 2, 2024

The operations panel at the 2023 InterFace Multifamily Southeast conference.

Features Georgia Leasing & Marketing News Operations Southeast

Multifamily Operators Had to Work Smarter, Harder This Year, Say InterFace Panelists

by Channing Hamilton December 29, 2023

ATLANTA — Shortened attention spans and the desire for instant gratification are a couple of the changing consumer behaviors that impact the multifamily operations industry. Karen Key, a president with Houston-based Asset Living, said that 75 percent of consumers expect a response time in less than 24 hours from a business. Twenty percent expect a response time within minutes. “If you’re missing that mark and someone else is responding to them, whether it’s a client, prospect or resident, you’ve lost them. They’re gone.” Key’s remarks came during the operations panel …

December 29, 2023

Development Georgia Investment Sales News People News Southeast

Brook Farm Group Selects Matt Cotton as Vice President of Land Acquisitions

by Channing Hamilton December 26, 2023

ATLANTA — Brook Farm Group, an Atlanta-based development company, has hired Matt Cotton as Vice President of Land Acquisition. Cotton will be based in the company’s Atlanta office. In this role, Cotton will oversee Brook Farm Group’s strategy to identify and acquire new land sites for multifamily development across the southeast. Cotton previously worked in in the Atlanta suburb of Alpharetta as a director of site selection for the Southeast Region of Trilogy Residences. Prior to this, he served as a real estate development manager for Circle K in Charlotte, North …

December 26, 2023

Finance Georgia News Southeast

Berkadia Arranges $36.8 Million Loan for Pointe Grand Warner Robins in Warner Robins, Georgia

by Channing Hamilton December 15, 2023

WARNER ROBINS, GA. — Berkadia has arranged a $36.8 million loan for Pointe Grand Warner Robins, a 288-unit property in Warner Robins. Located at 1601 Leverette Road, Pointe Grand Warner Robins consists of ten residential buildings and a clubhouse. Each residential building rises three stories. Units come in two-bedroom layouts and are 1,170 square feet in size. Amenities include a pool, fitness center and business center. Berkadia’s Proprietary Lending Group provided the loan, which features a two-year, competitive floating-rate with extensions and full-term interest only. Michael Weinberg and Wesley Moczul …

December 15, 2023

The capital markets panelists at the InterFace Multifamily Southeast conference.

Features Finance Georgia News Operations Southeast

Contrarian View: InterFace Lending Panel Explains Why Multifamily Borrowers Should Refinance Today

by Channing Hamilton December 15, 2023

ATLANTA — Depending on the era in which you came of age and the general experiences you’ve had in life, the notion that “things can always get worse” can be easy to endorse. As it pertains to commercial lending and borrowing, the consensus narratives that have prevailed ever since the Federal Reserve began jacking up interest rates in early 2022 has largely followed the same script: “Hunker down.” “Survive till ’25.” “Delay and defer.” In other words, do whatever you have to do to avoid the sting of the 11 …

December 15, 2023

Development Georgia Investment Sales News Southeast

Cushman & Wakefield Arranges Sale of 315-Unit Alexan Summerhill in Atlanta

by Channing Hamilton December 12, 2023

ATLANTA — Cushman & Wakefield has arranged the sale of Alexan Summerhill, a recently built 315-unit community in Atlanta’s Summerhill neighborhood. Weinstein Properties purchased the asset from the developers, Trammell Crow Residential and PGIM Real Estate, for an undisclosed price. Robert Stickel, Alex Brown, Ashlyn Warren, Michael Kay and Sim Patrick of Cushman & Wakefield represented the sellers in the transaction. Alexan Summerhill was built in 2022 as part of an ongoing 72-acre transformational mixed-use redevelopment plan. The community will feature direct access to the adaptive reuse retail spaces on …

December 12, 2023