Georgia

RangeWater, Nippon Steel Kowa Acquire Provenza at Old Peachtree Near Atlanta

by Channing Hamilton April 11, 2024

SUWANEE, GA. — RangeWater Real Estate and Nippon Steel Kowa Real Estate have acquired Provenza at Old Peachtree, a garden-style community located at 1460 Distribution Drive in the Atlanta suburb of Suwanee. The asset will be rebranded as Echo Ridge Suwanee. The property offers amenities such as a pool, outdoor patio with a fireplace, fitness center, clubroom, catering kitchen, car care center, business center with a private meeting space and a community pond with walking trails. The new owners are planning to add a dog park and a pet spa …

April 11, 2024

Development Finance Georgia News Southeast

BWE Secures $31 Million to Construct Imperium Suwanee in Atlanta Suburb

by Channing Hamilton April 8, 2024

SUWANEE — BWE has secured a $31 million loan to finance the construction of Imperium Suwanee, a 212-unit development in the Atlanta suburb of Suwanee. The community will offer amenities such as a fitness center, rooftop clubhouse, EV chargers, cybercafé with a coffee bar, pool, outdoor kitchen and bar, bike storage and repair station, courtyard, dog spa and a business center with a conference room. Thomas Wiedeman, Alan Tapie, Brad Walker and Hanley Long of BWE’s Atlanta office originated the loan through two community bank lenders. The borrower was Imperium …

April 8, 2024

Development Georgia News Southeast

Culdesac, Urban Oasis to Develop 20-Acre Mixed-Use Redevelopment in Atlanta

by Channing Hamilton March 25, 2024

ATLANTA — Culdesac Inc. and Urban Oasis Development will develop Murphy Crossing, a mixed-use redevelopment in Atlanta’s Oakland City neighborhood. The project is currently awaiting approval from Atlanta BeltLine Inc. (ABI) and Invest Atlanta, the City of Atlanta’s economic development arm. A development timeline was not disclosed. Located at 1050 Murphy Ave., Murphy Crossing will span 20 acres and offer 1,100 residential units, as well as commercial and light industrial space. Of the total unit count, 30 percent will be designated as affordable housing for residents earning 60 to 80 …

March 25, 2024

Affordable Housing Development Georgia News Southeast

Woda Cooper, Parallel Housing Deliver Affordable Stanton Park Apartments in Atlanta

by Channing Hamilton March 8, 2024

ATLANTA — Woda Coooper Cos. Inc. and Parallel Housing Inc. have delivered Stanton Park Apartments, a 56-unit affordable housing community in the Peoplestown neighborhood of Atlanta. Stanton Park offers 36 one-bedroom and 20 two-bedroom units, which are set aside for households earning 30 to 80 percent of the area median income. Ten units are reserved with project-based vouchers for tenants who experienced homelessness. The Fulton County Department of Behavioral Health and Developmental Disabilities has agreed to provide support service for the 10 voucher households for 10 years. Hooker DeJong designed the …

March 8, 2024

Development Finance Georgia News Southeast

Madison Communities Secures $35.5 Million in Construction Financing for Madison Oglethorpe in Savannah, Georgia

by Channing Hamilton March 5, 2024

SAVANNAH, GA. — Madison Communities, the multifamily development affiliate of Madison Capital Group, has secured a $35.5 million loan for the construction of Madison Oglethorpe in Savannah. United Bank provided the financing. Forum Investment Group has also provided preferred equity for the development. The garden-style community will offer 240 units, as well as amenities including a clubhouse and lounge with coworking space, fitness center, outdoor lounge, pool, grilling stations and a fire pit. The project is slated to deliver in late 2025. SGA|NW is the architect. BenCo Construction, an affiliate …

March 5, 2024

Development Georgia News Southeast

ECI Group, Griffin Fund Begin Constructing $76 Million The Averly Collins Hill Near Atlanta

by Channing Hamilton January 30, 2024

LAWRENCEVILLE, GA. — A joint venture consisting of ECI Group and The Griffin Fund have broken ground on The Averly Collins Hill, a $76 million development in the northeast Atlanta suburb of Lawrenceville. The project comprises 300 units across eight buildings on a 22-acre site. Units will come in one-, two- and three-bedroom layouts. Amenities include a clubhouse, fitness center, lounge areas, coworking space, pool, dog play area and coffee bar. ECI Construction is the general contractor for the project. Synovus Bank provided $46 million in construction financing.

January 30, 2024

Avenues at Verdier Point in Charleston, South Carolina

Finance Georgia News North Carolina South Carolina Southeast

JLL Secures $149 Million to Refinance Three-Property Portfolio in the Southeast

by Channing Hamilton January 26, 2024

ASHEVILLE, N.C., CHARLESTON, S.C. AND SAVANNAH, GA. — JLL has secured a $149 million loan to refinance a three-property portfolio the Southeastern U.S. Aldon Cole, Tim Wright and Bharat Madan of JLL’s San Diego office arranged the three-year, fixed-rate loan through a life insurance company on behalf of the borrower, Sunroad Enterprises. The portfolio includes: Verde Vista, a 313-unit community in Asheville; Avenues at Verdier Point, a 288-unit property in Charleston; and Adara at Godley Station, a 256-unit complex in Savannah. Sunroad Enterprises acquired the portfolio in 2021. The company …

January 26, 2024

Development Finance Georgia News Southeast

BWE Secures $29.5 Million to Construct 229-Unit Oakwood Near Gainesville, Georgia

by Channing Hamilton January 24, 2024

OAKWOOD, GA. — BWE has secured a $29.5 million loan to finance the construction of Imperium Oakwood, a 229-unit development in the Gainesville suburb of Oakwood. Thomas Wideman, Alan Tapie, Hanley Long and Brad Walker of BWE originated the floating-rate construction loan through a community bank on behalf of the borrower, Imperium Development. Imperium Oakwood will offer amenities such as a clubhouse with fitness and office rooms, a pool, fireplace, grill stations, covered lounge, game area, on-site parking, and a dog park with a wash station. Construction is anticipated to …

January 24, 2024

Georgia News People News Southeast

Marcus & Millichap Hires Three to Atlanta-Based Multifamily Team

by Channing Hamilton January 24, 2024

ATLANTA — Marcus & Millichap has hired Scott Spalding, Marco Welch and Joe Mitchell to the firm’s multifamily real estate investment team in Atlanta. Marcus & Millichap hired Spalding and Welch as senior vice presidents and Mitchell as a first vice president. Prior to joining Marcus & Millichap, the three worked with Atlanta-based Bull Realty Inc. Spalding is a member of the Atlanta Apartment Association and the Atlanta Commercial Board of Realtors. Welch studied business and finance at Morehouse College and is a member of the Atlanta Commercial Board of …

January 24, 2024

An apartment community in Glen Mills, Pennsylvania

Georgia Investment Sales Midwest Missouri News North Carolina Northeast Pennsylvania Southeast

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

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