Atlanta

Value Place announced the grand opening of its second location in the greater-Atlanta metro area. The newly constructed 124-room extended-stay hotel is located at 2877 Dresden Drive in the Chamblee submarket; the event was held on Wednesday, April 1. This is the brand’s ninth facility in Georgia.

Northeast Georgia Health System announced the opening of a brand new South Hall County hospital. The 100-bed facility is located at 1400 River Place in Braselton, about 40 miles northeast of Atlanta.

Madison at River Sound was recently sold to Los Angeles-based Investors Management Group for $58.3 million. The new owner of the community is a private real estate investment firm focusing exclusively on the multifamily sector. Investors Management Group specializes in value-add and opportunistic real estate investments in major metropolitan markets in need of recapitalization, repositioning, or significant renovation.

The recently completed 1160 Hammond luxury rental community was picked up by Associated Estates Realty Corporation, the Ohio-based company announced in a press release. The multifamily property is located in the Sandy Springs/Perimeter submarket of Atlanta, within walking distance of the Sandy Springs MARTA station along with 29 million square feet of offices and retail options including the Perimeter Mall.

By Balazs Szekely, Associate Editor Oakmont Industrial Group’s programmatic joint venture with The Carlyle Group recently announced the acquisition of a 35-acre infill land in Atlanta. The partnerships plan is to develop a 370,000 square-foot spec warehouse. Founded in 1996, Oakmont is a locally-based fully integrated industrial real estate investment, development and management company with […]

MidCity Real Estate Partners started a $7 million improvement project at MidCity Plaza that will soon convert the building into a Class A office property, DTZ announced recently. MidCity Real Estate Partners purchased the 63,049 square-foot asset, formerly known as the Crawford & Co. headquarters, in 2013 and DTZ is the company assigned to market the property with agents Glenn Kolker and Preston Menning in charge of leasing.

Hilton has announced a $13 million adaptive reuse project of the building known by the name of the Madison House, The Walton, Walton Building, etc. as part of an expansion process involving nearly 20 U.S. downtown locations. The hospitality giant plans to convert the building into Atlanta’s first Home2 Suites-branded extended stay hotel and expects it to open in August 2015.

The adaptive reuse project including historic renovations of the formally named Sears, Roebuck & Company building is nearing completion. The landmark’s uppermost seven floors at the east and west wings were affected mostly, creating the new FLATS at Ponce City Market. Stevens & Wilkinson was in charge of the new design – the company is a full-service commercial architecture, engineering and interior design firm based in Atlanta and Columbia, S.C., New York-based Fogarty Finger contributed to the interior design.

Two Buckhead office towers changed hands recently, The Brookdale Group announced in a news release. The Atlanta-based privately held commercial real estate investment company’s newly formed seventh fund purchased the properties from TIAA-CREF for a combined $201 million. Cushman & Wakefield’s Capital Markets team of Atlanta represented the seller during the negotiations with Executive Directors David Meline and Stewart Calhoun, Senior Director Samir Idris and Brokerage Services Director Casey Masters in charge.