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Preview: Atlanta Commercial Real Estate News From CoStar Group

Atlanta Commercial Real Estate News From CoStar Group

CoStar Group, Inc. is the leading provider of information services to commercial real estate property investors and sales professionals in the United States and United Kingdom. CoStar's suite of services offers access to the most comprehensive database of


Stockbridge Negotiating to Buy Three Alliance Center for Record Price

Wed, 13 Dec 2017 08:47:07 GMT

A San Francisco investor is poised to acquire the new Three Alliance Center office tower for more than $500 per square foot, sources tell CoStar News. The pricing would surpass the Atlanta market's record for office space of $466 per square foot set earlier this year. The investor, Stockbridge Capital, is negotiating with New York-based Tishman Speyer to acquire Three Alliance, the 30-story, 506,647-square-foot tower built this year in the Buckhead...

South City Partners Secures $58.3 Million Loan from SunTrust for Student Housing Tower

Tue, 12 Dec 2017 02:52:42 GMT

South City Partners took a major step towards starting its student housing tower near Georgia State University in downtown Atlanta. The Atlanta-based developer this week secured a $58.3 million loan from SunTrust Bank to help fund 120 Piedmont, South City's planned residential tower that would accommodate 685 students in 228 apartments. The loan from SunTrust represents nearly 65% of the $90 million cost of the project. The Preston Partnership...

Smaller Multifamily Investors Find Opportunity in Non-Core Areas of Atlanta

Mon, 11 Dec 2017 02:17:37 GMT

As institutional investors snap up just-opened Class A apartments in Atlanta's urban core, more entrepreneurial players are finding opportunities in untraditional markets where yields generally are higher. Class C apartments, often partially filled with renters armed with Section 8 housing vouchers, don't get the attention of institutional investors, but smaller-scale investors seeking new opportunities are finding success in that overlooked sector...

CoStar's People of Note (Dec. 8) - HFF and Cresa Expand, Cushman Hires Mangum...

Fri, 08 Dec 2017 06:56:53 GMT

The following companies announced personnel moves this week: Cresa, HFF, Pine Tree, Cushman & Wakefield, JLL, Bridge Investment Group, Walker & Dunlop, Kentwood Real Estate, Grover Corlew, Zeppelin Development and Colliers International.img.pon{display: block; padding: 5px; width: 25%; max-width:180px; max-height: 220px; float: right;} img.pontwo{display: block; padding: 5px; width: 45%; max-width:360px; max-height: 220px; float: right;} img.ponthree...

The Weather Channel's Parent Sells and Leases Back Iconic Weather Channel Tower

Thu, 07 Dec 2017 03:57:59 GMT

The owner of The Weather Channel network confirmed Thursday that it sold and leased back its iconic office tower on Interstate North Parkway in the Cumberland-Galleria submarket. The buyer, an affiliate of Philadelphia-based Rubenstein Partners, paid $18.25 million for the 174,805-square-foot, 50-year-old building at 300 Interstate North Parkway. That equates to $104.40 per foot for the office tower that became well-known for its blue-and-white...

New York Firm Teams With Two Israeli Investors to Acquire Apts. in Atlanta, Nashville

Wed, 06 Dec 2017 06:48:26 GMT

Atlanta and Nashville proved equally attractive to a New York firm that teamed with two Israeli investors to acquire a combined 591 units in the Southern cities. Gaia Real Estate of New York and Israel's Amitim Senior Pension Funds and Psagot Investment house said this week they acquired Station R in Atlanta and The Carillon in Nashville for undisclosed prices. The seller of Station R was Greystar Real Estate Partners, and The Carillon was developed...

Crescent Greenlights New Mixed-Use Project in Atlanta's Old Fourth Ward

Wed, 06 Dec 2017 01:47:25 GMT

Charlotte, NC-based development firm Crescent Communities will break ground shortly on a new multifamily and office development in the burgeoning Old Fourth Ward neighborhood of northeast Atlanta. Dubbed Novel 04W, the five-story mid-rise complex will feature 233 apartments and 10,500 square feet of creative office space near the Beltline, Ponce City Market and historic Fourth Ward Park at 525 NE North Ave. It is expected to deliver in mid-2019...

Altisource Residential Acquires 1,957 Rental Homes from Amherst Holdings

Wed, 06 Dec 2017 11:08:53 GMT

Altisource Residential Corp. (NYSE:RESI) acquired 1,957 single family rental properties from Amherst Holdings for $305.1 million or about $155,900/home. The transaction was the third and final closing associated with a previously announced purchase agreement under which Altisource agreed to acquire 3,465 rental homes in all this year from Amherst for a total sale price of $534.9 million or about $154,370/home. Amherst will remain the property...

Walker & Dunlop Continues Capital Markets Expansion with Key Atlanta Hire

Tue, 05 Dec 2017 04:17:29 GMT

Walker & Dunlop continues to grow its capital markets platform. This week, the Bethesda, MD-based company said it hired Greg Krafcik as managing director in its Atlanta office. Krafcik joins Walker & Dunlop from Greystone & Co., where he headed commercial mortgage-backed securities origination in the Southeast. His experience, transaction record and connections make Krafcik a critical addition to Walker & Dunlop, said Bill Wein, senior vice president...

Investor Interest in Atlanta's North Fulton Submarket Heats Up

Mon, 04 Dec 2017 05:36:37 GMT

A Dallas-based investor has added another office asset in Atlanta's North Fulton submarket to its portfolio. Velocis, a private equity real estate manager, said it acquired the two-building Parkway 400 office complex in Alpharetta for an undisclosed price. Parkway 400 comprises 194,664 square feet of office space in a six-story and adjacent two-story building. Situated at GA. 400 and Old Milton Pky., Parkway 400 is across the street from Avalon...

New Market Acquires Roswell-Wieuca Shopping Center in Atlanta

Fri, 01 Dec 2017 08:12:33 GMT

With 720 feet of frontage on one of Atlanta's busiest roads and favorite local tenants, it is no surprise Roswell-Wieuca Shopping Center gained status as an iconic Buckhead landmark. That status helped attract the attention New Market Properties LLC, an emerging powerhouse investor that loves grocery-anchored centers. New Market, a subsidiary of Atlanta-based Preferred Apartment Communities (NYSE: APTS) said this week it acquired the 74,370-square...

Songy Highroads Partners with Hyatt on New Hyatt Place Hotel Near Mercedes-Benz Stadium

Thu, 30 Nov 2017 04:08:23 GMT

Songy Highroads and Hyatt Hotels Corp. will commence construction next year on a new 175-key Hyatt Place near the expanding sports and entertainment district in downtown Atlanta. Atlanta-based Songy Highroads (SHR) closed Nov. 1 on the acquisition of the parcels at 300 Luckie St. and 306 Luckie St. for a combined price of $5 million, according to CoStar Research. The new owners filed an application with the city of Atlanta to consolidate the properties...