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Pointe Grand Warner Robins in Warner Robins, Georgia
BerkadiaFinanceGeorgiaNewsSoutheast

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

by Channing Hamilton

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 …

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The capital markets panelists at the InterFace Multifamily Southeast conference.
FeaturesFinanceGeorgiaNewsOperationsSoutheast

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

by Channing Hamilton

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 …

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Alexan Summerhill in Atlanta
DevelopmentGeorgiaInvestment SalesNewsSoutheast

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

by Channing Hamilton

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 …

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DevelopmentGeorgiaNewsSoutheast

Brook Farm Group, Emory Equity Break Ground on The Sinclair at Callaway Farm in Atlanta Suburb

by Channing Hamilton

COVINGTON, GA. — Brook Farm Group and Emory Equity have begun constructing The Sinclair at Callaway Farm, a 388-unit community in the southeast Atlanta suburb of Covington. SilverCap Partners provided preferred equity for the development. First Horizon Bank and TrustMark Bank provided construction financing. The Sinclair at Callaway Farm will feature 11 residential buildings across two distinct neighborhoods. Construction is slated to be completed by the end of 2025.

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Affordable HousingDevelopmentFinanceGeorgiaNewsSoutheast

Stryant Investments to Redevelop Historic Atlanta Motel into 54-Unit Affordable Housing Community

by Channing Hamilton

ATLANTA — Stryant Investments has broken ground on Ralph David House, an adaptive-reuse development that converts a former motel in Atlanta’s Reynoldstown neighborhood into 54 units of permanent supportive housing. The community will be affordable to households earning at or below 30 percent of the area median income. Rents and utility costs combined will also be capped at 30 percent of each tenant’s income. The complex is slated to open in the fall of 2024.  Atlanta Beltline Inc. invested $550,000 into the project through the BeltLine’s TAD Increment Fund, which …

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Parkside on Dresden in Brookhaven, Ga.
DevelopmentFeaturesGeorgiaOperationsSoutheast

New Multifamily Starts to Slow to a Crawl in 2024, Say InterFace Panelists

by Channing Hamilton

ATLANTA — Multifamily developers are bracing for the uncertainty of 2024 as their projects are delivering into a landscape where new supply is outpacing demand by a significant margin. In the third quarter, a total of 114,000 new multifamily units were delivered compared to 82,100 absorbed, according to research from CBRE. The absorption figure is technically rebounding as it represents the highest quarterly figure since early 2022, but there is still a sizeable delta compared to supply growth. The trailing four-quarter total for multifamily deliveries stands at 376,500 units, which …

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Canvas at Savannah in Savannah, Georgia
FinanceGeorgiaInvestment SalesNewsSoutheast

CBRE Provides $27.7 Million Loan to Acquire Affordable Housing Community in Savannah, Georgia

by Channing Hamilton

SAVANNAH, GA. — CBRE has provided a $27.7 million acquisition loan for Canvas at Savannah, a 300-unit affordable housing community located at 5110 Garrard Ave. in Savannah. Blake Cohen of CBRE’s Atlanta office originated the Freddie Mac loan on behalf of the borrower, Miami-based One Real Estate Investment. The seller was not disclosed. Canvas at Savannah was built in 2003 and recently renovated. The garden-style community features one-, two- and three-bedroom units, as well as amenities such as a fitness center, coffee bar, package lockers and a pool.

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Build-to-RentDevelopmentGeorgiaNewsSoutheast

Parkland Communities Secures Zoning Approval for 124-Unit Build-to-Rent Development in Fayetteville, Georgia

by Channing Hamilton

FAYETTEVILLE, GA. — Parkland Communities has received zoning approval from the City of Fayetteville’s Planning & Zoning Commission the development of Morgan Park, a 124-unit build-to-rent community. Situated on 9.3 acres roughly 22 miles outside of Atlanta, Morgan Park will offer two- and three-bedroom townhome-style units. Each unit will include a clubhouse, pool, cabana and dedicated mail kiosk. Monthly rental rates at the community will begin at $2,400. A construction timeline for the project was not disclosed.

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The Perry in Norcross, Georgia
DevelopmentGeorgiaNewsSoutheast

FIDES Development Completes Construction on The Perry in Norcross, Georgia

by Channing Hamilton

NORCROSS, GA. — FIDES Development has finished constructing The Perry, a 160-unit community located at the intersection of Jimmy Carter and Peachtree Industrial boulevards in the Atlanta suburb of Norcross. The garden-style community offers amenities such as a lounge for hosting guests, a pool, lobby, bike room, coworking space, a mail room, pet spa and a gym. Ware Malcomb designed the interior architecture and amenity spaces. General contracting services for the project were provided by Fortune-Johnson.

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Alice Hall in Savannah, Georgia
DevelopmentGeorgiaInvestment SalesNewsSoutheast

JLL Capital Markets Arranges $4 Million for Alice Hall in Savannah, Georgia

by Channing Hamilton

SAVANNAH, GA. — JLL Capital Markets has arranged $4 million in acquisition financing for Alice Hall, a 14-unit building within Savannah’s historic district. JLL worked on behalf of the borrower, The AltAccom Group, to secure the three-year loan with two one-year extensions from the lender. Jonah Aelyon, Sarah Murphy and Ethan Habecker led the JLL Capital Markets debt advisory team. Built in 2007, Alice Hall offers 14 units across three stories. Units come in two- and three-bedroom floor plans. The AltAccom Group plans to convert the units from term tenancy to short- and …

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