{"id":1004070665,"date":"2013-04-15T06:38:24","date_gmt":"2013-04-15T14:38:24","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004070665"},"modified":"2022-12-08T21:02:26","modified_gmt":"2022-12-09T05:02:26","slug":"unc-admiral-capital-acquire-atlantas-m-f-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/unc-admiral-capital-acquire-atlantas-m-f-project\/","title":{"rendered":"UNC, Admiral Capital Acquire Atlanta M-F Project"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/em><\/p>\n

The University of North Carolina Kenan-Flagler Business School\u2019s Real Estate Fund II (KFBS-REFII) has co-invested, along with Admiral Capital Group, of San Antonio, and Wood Partners, of Atlanta, in Brookhaven, a 17-story, 209-unit Class A multi-family building in Atlanta\u2019s Buckhead area, the parties announced Thursday. Financial terms were not disclosed.<\/p>\n

As Commercial Property Executive<\/em> reported on Nov. 12, a joint venture of Admiral Capital and Wood Partners acquired the building, a broken condominium built in 1985, in early November.<\/a> As the general partner, Wood Partners led the acquisition.\u00a0<\/span><\/p>\n

The building, at 3833 Peachtree Road, underwent renovation in 2008, when its interiors were modernized with hardwood floors, custom cabinetry, granite counters, stainless steel appliances and enclosed sunrooms.<\/p>\n

As of November, Wood Partners planned to enhance the common areas with expanded parking, a fitness center and a resort-style amenity deck with a water feature, outdoor bar and bocce court. Existing amenities include a heated pool, men\u2019s and women\u2019s saunas, and a lighted tennis court.<\/p>\n

Wood Partners has close ties to UNC. Founder Leonard Wood earned his MBA from Kenan-Flagler in 1972 and has since donated $4 million to establish the Leonard W. Wood Foundation for Excellence in Real Estate and endow the Leonard W. Wood Center for Real Estate Studies.<\/p>\n

 <\/p>\n

Kenan-Flagler\u2019s two real estate funds were formed with the dual missions of providing competitive financial returns to investors and giving UNC undergraduate and MBA students first-hand real estate experience. That experience includes the opportunity to establish personal and professional relationships with national real estate developers and investors.<\/p>\n

KFBS Real Estate Fund I, which was established in 2007, is fully invested. Fund II was formed in 2011 and is currently in its investment period.<\/p>\n

Recent investments by the student-managed funds include a portfolio of industrial properties in the Dallas\u2013Fort Worth area, a hotel development in Charleston, S.C., and retail centers in Charlotte, N.C., and Washington, D.C.<\/p>\n

The funds \u201ctypically co-invest alongside another fund, developer or other type of sponsorship on our investments,\u201d Kirk Mobley, Kenan-Flagler MBA Class of 2013, told CPE<\/em>. The transactions are thus not \u201cacquisitions\u201d in the truest sense of that word, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The University of North Carolina Kenan-Flagler Business School\u2019s Real Estate Fund II (KFBS-REFII) has co-invested, along with Admiral Capital Group and Wood Partners, in Brookhaven, a 17-story, 209-unit Class A multi-family building in Atlanta\u2019s Buckhead area. <\/p>\n","protected":false},"author":882,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1489,21783,21742],"tags":[],"class_list":["post-1004070665","post","type-post","status-publish","format-standard","hentry","category-atlanta","category-investment","category-latest"],"acf":[],"yoast_head":"\nUNC, Admiral Capital Acquire Atlanta M-F Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/unc-admiral-capital-acquire-atlantas-m-f-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UNC, Admiral Capital Acquire Atlanta M-F Project\" \/>\n<meta property=\"og:description\" content=\"The University of North Carolina Kenan-Flagler Business School\u2019s Real Estate Fund II (KFBS-REFII) has co-invested, along with Admiral Capital Group and Wood Partners, in Brookhaven, a 17-story, 209-unit Class A multi-family building in Atlanta\u2019s Buckhead area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/unc-admiral-capital-acquire-atlantas-m-f-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-04-15T14:38:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:02:26+00:00\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/unc-admiral-capital-acquire-atlantas-m-f-project\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/unc-admiral-capital-acquire-atlantas-m-f-project\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"UNC, Admiral Capital Acquire Atlanta M-F Project\",\"datePublished\":\"2013-04-15T14:38:24+00:00\",\"dateModified\":\"2022-12-09T05:02:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/unc-admiral-capital-acquire-atlantas-m-f-project\\\/\"},\"wordCount\":366,\"commentCount\":0,\"articleSection\":[\"Atlanta\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/unc-admiral-capital-acquire-atlantas-m-f-project\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/unc-admiral-capital-acquire-atlantas-m-f-project\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/unc-admiral-capital-acquire-atlantas-m-f-project\\\/\",\"name\":\"UNC, Admiral Capital Acquire Atlanta M-F Project - 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