Category: Uncategorized

Star Metals District Adding Hotel, Retail, Apartments

The developer of Atlanta’s Star Metals District is looking to expand its growing West Midtown venture.

Allen Morris Co. and partner Animal are moving forward with its next phases, a total of 1.5 million square feet. Star Metals already includes apartment and office buildings. Another residential tower, called Stella, is under construction.

The next phases would add 800 residential units, 100,000 square feet of retail space and 200 hotel rooms. If demand continues to rebound, more office space is a possibility. The office building at Star Metals is 97% leased.

The Atlanta Business Chronicle reports this tower would be the final phase of the project. The more than 3-acre site is just south of Star Metal Offices, which has attracted tenants including daily fantasy sports operator PrizePicks. The land was assembled years ago. It is bounded by Howell Mill, 11th Street, Edgehill Avenue and Bellingrath Avenue. 

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​  The developer of Atlanta’s Star Metals District is looking to expand its growing West Midtown venture. Allen Morris Co. and partner Animal are moving forward with its next phases, a total of 1.5 million square feet. Star Metals already includes apartment and office buildings. Another residential tower, called Stella, is under construction. The next phases would …
The post Star Metals District Adding Hotel, Retail, Apartments appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

The developer of Atlanta’s Star Metals District is looking to expand its growing West Midtown venture. Allen Morris Co. and partner Animal are moving forward with its next phases, a total of 1.5 million square feet. Star Metals already includes apartment and office buildings. Another residential tower, called Stella, is under construction. The next phases would …
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Toro Secures $560M Financing for Johns Creek Mixed-Use Venture

Toro Development Company (TDC), secured financing for Medley, the $560 million, 43-acre mixed-use community coming to Johns Creek. The milestone paves the way for Medley’s groundbreaking in December, with an anticipated opening in late 2026.

The deal includes an equity investment from Ascentris and a $158 million construction loan from Banco Inbursa for the first phase. 

Located at the corner of McGinnis Ferry Road and Johns Creek Parkway, Medley will encompass 150,000 square feet of retail, restaurant and entertainment space, a 175-key boutique hotel, 110,000 square feet of lifestyle office, 750 multifamily residences, 133 townhomes and an activated 25,000-square-foot Plaza.

The company purchased the suburban office park for $44 million in March 2024 and has since razed a 350,000-square-foot office building to prepare the site for construction. TDC will renovate and incorporate the other existing office building into the master plan to create a commute-worthy workplace.  

Toro has already locked in over a dozen retail tenants signed up for Medley.

The post Toro Secures $560M Financing for Johns Creek Mixed-Use Venture appeared first on Connect CRE.

​  Toro Development Company (TDC), secured financing for Medley, the $560 million, 43-acre mixed-use community coming to Johns Creek. The milestone paves the way for Medley’s groundbreaking in December, with an anticipated opening in late 2026. The deal includes an equity investment from Ascentris and a $158 million construction loan from Banco Inbursa for the first …
The post Toro Secures $560M Financing for Johns Creek Mixed-Use Venture appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

Toro Development Company (TDC), secured financing for Medley, the $560 million, 43-acre mixed-use community coming to Johns Creek. The milestone paves the way for Medley’s groundbreaking in December, with an anticipated opening in late 2026. The deal includes an equity investment from Ascentris and a $158 million construction loan from Banco Inbursa for the first …
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Newmark Arranges $140M Refi for Atlanta Sr. Housing Developer

Galerie Living has obtained a $140 million refinancing of the Corso Atlanta, a 203-unit seniors housing community located at 3200 Howell Mill Road in Atlanta.

Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, featuring five years of interest-only payments, and arranged a preferred equity investment from Kayne Anderson Real Estate Debt. Newmark says it’s the first-ever Freddie Mac senior preferred equity hard pay structure for a seniors housing asset. Newmark’s Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy facilitated the transaction. 

Corso Atlanta’s offers a range of services, including independent living, assisted living and memory care options. Other amenities include include chef-led dining options, a heated pool, a fitness center, a salon, multiple outdoor spaces, a theater and both a floral shop and gift boutique. 

Galerie Living is a senior housing development and management company that has been in business for over 25 years, has four brands, over 1,000 units delivered and 3,000 occupants.

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​  Galerie Living has obtained a $140 million refinancing of the Corso Atlanta, a 203-unit seniors housing community located at 3200 Howell Mill Road in Atlanta. Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, featuring five years of interest-only payments, and arranged a preferred equity investment from Kayne Anderson …
The post Newmark Arranges $140M Refi for Atlanta Sr. Housing Developer appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

Galerie Living has obtained a $140 million refinancing of the Corso Atlanta, a 203-unit seniors housing community located at 3200 Howell Mill Road in Atlanta. Newmark’s Healthcare & Alternative Real Estate Assets group secured the 10-year Freddie Mac senior loan, featuring five years of interest-only payments, and arranged a preferred equity investment from Kayne Anderson …
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Landmark Building 2,000-Bed Georgia Tech Student Housing Project

Landmark Properties has purchased the parking lot of an Atlanta landmark. The family behind The Varsity restaurant agreed to sell 2 acres of its property along the Downtown Connector. A price was not disclosed.

Landmark is planning a 2,000-bed student housing project that would overlook Georgia Tech’s Bobby Dodd Stadium.

The Atlanta Business Chronicle reports the proposed development would not impact the operations of The Varsity. Landmark Properties said its new tower will offer pedestrian access into the heart of the Georgia Tech campus. 

Georgia Tech’s enrollment continues to grow, increasing almost 10% over the past three years. In fall 2023, enrollment for all degrees was almost 48,000 students, up from just under 44,000 students in fall 2021..

Landmark’s new project will offer amenities, such as a pool with jumbotrons, sports simulator, sauna, study space and sky lounges.

It will be its fourth project in Midtown and Downtown, bringing the company’s intown portfolio to more than 4,000 beds. 

The post Landmark Building 2,000-Bed Georgia Tech Student Housing Project appeared first on Connect CRE.

​  Landmark Properties has purchased the parking lot of an Atlanta landmark. The family behind The Varsity restaurant agreed to sell 2 acres of its property along the Downtown Connector. A price was not disclosed. Landmark is planning a 2,000-bed student housing project that would overlook Georgia Tech’s Bobby Dodd Stadium. The Atlanta Business Chronicle reports the …
The post Landmark Building 2,000-Bed Georgia Tech Student Housing Project appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

Landmark Properties has purchased the parking lot of an Atlanta landmark. The family behind The Varsity restaurant agreed to sell 2 acres of its property along the Downtown Connector. A price was not disclosed. Landmark is planning a 2,000-bed student housing project that would overlook Georgia Tech’s Bobby Dodd Stadium. The Atlanta Business Chronicle reports the …
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Atlanta Developer Proposing Brookhaven Mixed-Use Project

Third & Urban is planning a major redevelopment at the site of a number of dated office buildings. The developer hopes to replace the Corporate Square complex with a mixed-use venture. Located off Buford Highway, the 32-acre site is on the opposite side of Interstate 85 from Children’s Arthur M. Blank Hospital and Emory University’s forthcoming Executive Park innovation district.

The Atlanta Business Chronicle reports Third & Urban is proposing 2,000 residential units, consisting of a mix of apartments, senior residences, corporate housing units and townhouses. The developer also envisions a 350-key hotel, 30,000 square feet of retail, 100,000 square feet of medical office space and a public plaza.

Brookhaven City Council would need to rezone the land for the developer’s intended use before the project could move forward.

Third & Urban, known for in-town mixed-use projects such as Westside Paper and Armour Yards, targets underperforming office parks in high-growth suburbs on the edge of Atlanta proper.

The post Atlanta Developer Proposing Brookhaven Mixed-Use Project appeared first on Connect CRE.

​  Third & Urban is planning a major redevelopment at the site of a number of dated office buildings. The developer hopes to replace the Corporate Square complex with a mixed-use venture. Located off Buford Highway, the 32-acre site is on the opposite side of Interstate 85 from Children’s Arthur M. Blank Hospital and Emory University’s forthcoming Executive …
The post Atlanta Developer Proposing Brookhaven Mixed-Use Project appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

Third & Urban is planning a major redevelopment at the site of a number of dated office buildings. The developer hopes to replace the Corporate Square complex with a mixed-use venture. Located off Buford Highway, the 32-acre site is on the opposite side of Interstate 85 from Children’s Arthur M. Blank Hospital and Emory University’s forthcoming Executive …
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AW Spends $55.2M on 9-Property NC Medical Portfolio

AW Properties obtained $55.2 million in financing for a nine-property medical portfolio totaling 297,500 square feet in Burlington, Durham and Greensboro, North Carolina. The loan proceeds were used to acquire the portfolio.

JLL placed the 10-year, fixed-rate loan with a life company. Travis Anderson and Anthony Sardo led the JLL Capital Markets Debt Advisory team, representing the borrower.

With an average vintage of 2006, the portfolio is 99% leased to leading healthcare systems and dominant independent physician practices, with credit tenants representing 73% of in-place income. All of the properties are located on or adjacent to hospital campuses in Burlington, Durham and Greensboro markets.

The portfolio includes Cone Health Neurology Clinic, 2001 North Church Street, Wesley Long MOB in Greensboro, Alamance Eye Center in Burlington, UNC Family Medicine Center, and Duke Medical Center in Durham.

The post AW Spends $55.2M on 9-Property NC Medical Portfolio appeared first on Connect CRE.

​  AW Properties obtained $55.2 million in financing for a nine-property medical portfolio totaling 297,500 square feet in Burlington, Durham and Greensboro, North Carolina. The loan proceeds were used to acquire the portfolio. JLL placed the 10-year, fixed-rate loan with a life company. Travis Anderson and Anthony Sardo led the JLL Capital Markets Debt Advisory team, …
The post AW Spends $55.2M on 9-Property NC Medical Portfolio appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

AW Properties obtained $55.2 million in financing for a nine-property medical portfolio totaling 297,500 square feet in Burlington, Durham and Greensboro, North Carolina. The loan proceeds were used to acquire the portfolio. JLL placed the 10-year, fixed-rate loan with a life company. Travis Anderson and Anthony Sardo led the JLL Capital Markets Debt Advisory team, …
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Sprouts-Anchored Retail Center, Apartments Set for Nashville Area

GBT Realty Corporation and Robinson Properties are teaming up on a new retail and multifamily development in Mount Juliet, Tenn., approximately 20 miles east of Nashville. Construction of the retail space is expected to begin this month and be completed in October 2025. A timeline and details of the residential development, to be developed by Robinson Properties, will be announced later.

Everett Downs is situated on a 10.9-acre site at the corner of Division St. and Mt. Juliet Rd. near I-40. The retail component, helmed by GBT Realty, will comprise a 41,255-square-foot neighborhood center. It features a 23,256-square-foot Sprouts Farmers Market, 18,000 square feet of small shop space and two out parcels. An additional 10,200 square feet and one out parcel remain available for restaurants, fitness services and soft goods retailers. This shopping center marks the 12th Sprouts-anchored property developed by GBT. 

The post Sprouts-Anchored Retail Center, Apartments Set for Nashville Area appeared first on Connect CRE.

​  GBT Realty Corporation and Robinson Properties are teaming up on a new retail and multifamily development in Mount Juliet, Tenn., approximately 20 miles east of Nashville. Construction of the retail space is expected to begin this month and be completed in October 2025. A timeline and details of the residential development, to be developed by …
The post Sprouts-Anchored Retail Center, Apartments Set for Nashville Area appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

GBT Realty Corporation and Robinson Properties are teaming up on a new retail and multifamily development in Mount Juliet, Tenn., approximately 20 miles east of Nashville. Construction of the retail space is expected to begin this month and be completed in October 2025. A timeline and details of the residential development, to be developed by …
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GSU Revamping Downtown Campus

Georgia State University will soon begin a transformational project. Most of the $107 million needed for the project will come from an $80 million gift from the Robert W. Woodruff Foundation.

Development of the Hurt Park area includes removal of Georgia State’s Sparks Hall to integrate the existing campus Greenway into a district that crosses Gilmer Street and connects to Hurt Park. The Greenway will include an elevated plaza, enhanced walkways and a vegetated buffer along Courtland Street.

On the north end of Hurt Park, the 100 Edgewood building will get a dining area and gathering space. Renovations to the first four floors of the building will provide up-to-date classroom space and interconnecting stairways.

The Arts and Humanities Building, overlooking the newly activated outdoor hub, will get a new, more contemporary façade.

At Woodruff Park, new sidewalks, a realigned streetcar platform, façade improvements to the 25 Park Place building and plaza, and other pedestrian-oriented features will provide a connection to Broad Street and the Aderhold Learning Center.

The post GSU Revamping Downtown Campus appeared first on Connect CRE.

​  Georgia State University will soon begin a transformational project. Most of the $107 million needed for the project will come from an $80 million gift from the Robert W. Woodruff Foundation. Development of the Hurt Park area includes removal of Georgia State’s Sparks Hall to integrate the existing campus Greenway into a district that crosses Gilmer …
The post GSU Revamping Downtown Campus appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

Georgia State University will soon begin a transformational project. Most of the $107 million needed for the project will come from an $80 million gift from the Robert W. Woodruff Foundation. Development of the Hurt Park area includes removal of Georgia State’s Sparks Hall to integrate the existing campus Greenway into a district that crosses Gilmer …
The post GSU Revamping Downtown Campus appeared first on Connect CRE.

S2 Capital Lands 618-Unit Atlanta Rental Asset

S2 Capital acquired ‘The Landing at Pleasantdale’, a 618 garden-style apartment community. 72 buildings make up the gated community that’s on over 75 acres. Built in 1985, Pleasantdale is located at 3497 Meadowglenn Village Lane in Doraville, GA, a northeast Atlanta suburb.

S2’s Scott Everett further explains the deal, “Data suggests an inversion of the supply-demand imbalance, leading to significant positive absorption for Atlanta in conjunction with the first positive YoY occupancy gain in Q3 24 since Q1 22. Additionally, current effective rents sit $280 below comparable market properties, having witnessed a -12% drop in rents onsite YoY while surrounding comps have increased +1%, giving S2 conviction in their ability to execute their value-add business plan and deliver a superior living experience to tenants.”

S2 plans to renovate 90% of the units to compete with comparable renovated properties in the submarket.

The post S2 Capital Lands 618-Unit Atlanta Rental Asset appeared first on Connect CRE.

​  S2 Capital acquired ‘The Landing at Pleasantdale’, a 618 garden-style apartment community. 72 buildings make up the gated community that’s on over 75 acres. Built in 1985, Pleasantdale is located at 3497 Meadowglenn Village Lane in Doraville, GA, a northeast Atlanta suburb. S2’s Scott Everett further explains the deal, “Data suggests an inversion of the …
The post S2 Capital Lands 618-Unit Atlanta Rental Asset appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

S2 Capital acquired ‘The Landing at Pleasantdale’, a 618 garden-style apartment community. 72 buildings make up the gated community that’s on over 75 acres. Built in 1985, Pleasantdale is located at 3497 Meadowglenn Village Lane in Doraville, GA, a northeast Atlanta suburb. S2’s Scott Everett further explains the deal, “Data suggests an inversion of the …
The post S2 Capital Lands 618-Unit Atlanta Rental Asset appeared first on Connect CRE.

City Selects Partner on Atlanta Constitution Building

Invest Atlanta selected Gorman & Co. to restore the five-story Atlanta Constitution building, located at 143 Alabama St. in the heart of Downtown. The agency intends to negotiate a ground lease and master development agreement with the company, whose preliminary plan includes 197 mostly affordable residential units.

The 95,000-square-foot brick building dates back to the 1940s and housed the Atlanta Constitution’s printing facility until the newspaper merged with the Atlanta Journal in 1953. The city has owned it since the 1990s. 

Gorman & Co., which focuses on developing affordable and workforce housing, plans to split the project into multiple phases.

The building would be filled with residential units and ground-level commercial space. A later phase would add a new residential building on adjacent land by 2028.

The project includes a mix of units with one, two or three bedrooms. Units would be rented at prices affordable to households earning 30% and 80% AMI.

The post City Selects Partner on Atlanta Constitution Building appeared first on Connect CRE.

​  Invest Atlanta selected Gorman & Co. to restore the five-story Atlanta Constitution building, located at 143 Alabama St. in the heart of Downtown. The agency intends to negotiate a ground lease and master development agreement with the company, whose preliminary plan includes 197 mostly affordable residential units. The 95,000-square-foot brick building dates back to the …
The post City Selects Partner on Atlanta Constitution Building appeared first on Connect CRE. Read MoreAtlanta Commercial Real Estate News

Invest Atlanta selected Gorman & Co. to restore the five-story Atlanta Constitution building, located at 143 Alabama St. in the heart of Downtown. The agency intends to negotiate a ground lease and master development agreement with the company, whose preliminary plan includes 197 mostly affordable residential units. The 95,000-square-foot brick building dates back to the …
The post City Selects Partner on Atlanta Constitution Building appeared first on Connect CRE.