Atlanta
Norstar Wingate Community in Forest Park Sold, Awaits Repositioning
Norstar Wingate, a multifamily rental community in Forest Park, Georgia has recently sold for $3.4 million or $16,113 per unit, Franklin Street announced. AML GA 1001, LLC, a Florida investor group acquired the 211-unit property from a local investor, Jake Reid and Ricky Jones of Franklin Street represented the seller.
Steadfast Apartment REIT Acquires 696-Unit Portfolio
Steadfast Apartment REIT has recently picked up 696 apartment homes in North Gwinnett. The investment trust paid $98.5 million for the portfolio that is comprised of two adjacent communities originally constructed as stand-alone properties with 354, respectively 342 apartments.
Austin Creek Community near Southern Poly Sold, Converts to Student Housing
A newly formed joint venture has recently announced the acquisition of the 120-unit Austin Creek community at Southern Polytechnic State University’s campus. The partnership incorporates Chicago-based opportunistic, privately held real estate investment firm T2 Capital Management and Atlanta real estate service firm Campus Realty Advisors.
Georgia Tech to Renovate, Add to, Historic Residence Halls
The historic Glenn and Towers Residence Halls at Georgia Institute of Technology in Atlanta will soon undergo renovation with Stevens & Wilkinson in charge of the operation, in association with VMDO Architects.
Atlanta Ronald McDonald House Charities Broke Ground on New Facility
Atlanta Ronald McDonald House Charities started expanding in late October by breaking ground on a new facility and launching a public fundraising campaign for the construction of the Ronald McDonald House that replaces the current one on Peachtree Dunwoody Road near Children’s Healthcare of Atlanta at Scottish Rite.
Joint Venture Develops New AC by Marriott Hotel near Phipps Plaza
Simon Property Group joined forces with Noble Investment Group to bring a new Marriott hotel to Phipps Plaza. The new facility will represent the hospitality giant’s AC Hotels by Marriott brand. The retail real estate leader and the private equity hospitality firm announced the AC by Marriott Buckhead project on Wednesday, 24 September.
Westin Atlanta Perimeter North is Back in Business after Full-Scale Transformation
Westin Atlanta Perimeter North underwent a multi-million dollar renovation and is now fully operational again, according to Marcus Hotels & Resorts, a division of The Marcus Corporation.
One and Two Parkway Center under New Ownership
The Marietta complex totaling 458,861 square feet has been purchased in a direct off-market transaction by Fairlead Commercial Real Estate and equity partner Bridge Investment Group Partners, managers of the ROC Funds.
Construction Commences on Belmont Mixed-Use Development
The developer, Halpern Enterprises broke ground Thursday on Belmont, a multi-use project going up at the intersection of Windy Hill Road and Atlanta Road in the heart of Smyrna.
KBS REIT III Acquires Atlanta Office Building for $132.5M
KBS Real Estate Investment Trust III has acquired 171 17th St., a 21-story, trophy-quality office building in Atlanta for $132.5 million plus closing costs from JP Morgan.