BIRMINGHAM—J McGlinchey Stafford elected Christopher A. Bottcher as a member of the firm. Bottcher joined McGlinchey Stafford in 2015 and played a key role in the firm's expansion to Alabama through the opening of its Birmingham office that year. Bottcher represents companies across a variety of industries in a vast range of civil, business, and commercial litigation matters, as well as in business and consumer fraud claims. Bottcher frequently represents corporate clients in matters involving trade secrets and the enforcement of restrictive covenants. He represents banks, mortgage servicers, title companies, and property owners in matters involving claims under the Truth in Lending Act and the Real Estate Settlement Procedures Act, as well as in matters involving boundary disputes, establishing easements and means of ingress/egress, mortgage reformations, partitions, and lien priority.

DEAL TRACKER

ATLANTA—Will James, vice president of NorthMarq Capital's Atlanta-based regional office, arranged the $8.521 million financing for historic tax credit equity, equity bridge and construction financing of the MC Kiser Building, an adaptive reuse conversion of a century old building into a 41-unit multifamily property spanning 3,500 square feet of ground floor retail space. The transaction was structured with a 5-year term after a 1-year interest-only construction period. NorthMarq arranged financing for the borrower, Gallman Development Group, through a debt and equity fund provided by Churchill Stateside Group. The MC Kiser Building was originally a shoe manufacturing plant constructed in 1914, and will benefit from the borrowers plan for an “adaptive reuse” of the property. “The MC Kiser Lofts are located in the burgeoning South Downtown area, two blocks from Underground and Garnett Marta Station” says Bill Gallman of Gallman. “South Downtown is adjacent to the Castleberry Hill Arts District, Atlanta's CBD core, and Federal, State, County and City employment centers.”

SUMMERVILLE, GA—Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, closing a $3.261 million refinancing loan on R.H. Floyd Apartments, affordable multifamily housing properties in Summerville. This refinancing will help to promote and enhance affordable housing options in the area. R.H. Floyd Apartments includes 118 residential buildings located on 23 different sites across Summerville. Together, these buildings contain 223 units. The loan includes in excess of $1.74 million, or $8,000 per unit, for the completion of ongoing renovations and infrastructure improvements.

HUNTSVILLE, AL—Berkadia negotiated the sale of Hillside Village and Twickenham Village located in Huntsville with a total of 375 apartment units for $9.925 million or $26,396 per unit. Managing director David Oakley, senior directors David Etchison and David Wilson with the Birmingham office of Berkadia Real Estate Advisors, represented the seller, Huntsville-based Hillside Village, LLC and Twickenham Village, LLC. Hillside Village, with 223 units is located at 4515 Bonnell Drive, and Twickenham Village with 152 units is located at 5001 Galaxy Way. Both apartment communities were built in 1985.

BOAZ, ALABAMA—NAI Miami's Jeremy Larkin and Joseph Gallaher, along with their partners, NAI Chase out of Huntsville, Alabama, represented the seller, VFC Properties 30, LLC in the sale of a 7.5 acre, 129,000 square foot warehouse. The property is located at 410 Henderson Road in Boaz, Alabama. Realtymasters, LLC acquired the warehouse. Financial terms of the deal were not disclosed.

GAINESVILLE, GA—HFF secured financing for Axial Buckhead and TreePark Apartments, two class A, garden-style multifamily properties with 625 units in Atlanta and Gainesville. HFF placed two fixed-rate acquisition loans with two separate lenders for Venterra Realty. The loan for Axial Buckhead has a term of seven years with four years of interest-only payments followed by a 30-year amortization with a fixed interest rate of 3.15%. The loan for TreePark Apartments has a term of 10 years with seven years of interest-only payments followed by a 30-year amortization with a fixed interest rate of 4.5%.

BIRMINGHAM—HFF arranged refinancing for The Summit, a 1.03 million-square-foot, trophy retail center with class A office space in Birmingham. HFF worked on behalf of the borrower, a partnership between Bayer Properties LLC and Institutional Mall Investors LLC, a co-investment venture co-owned by Miller Capital Advisory and CalPERS, to place the 10-year, fixed-rate loan with Bank of America. Loan proceeds are being used to refinance an existing loan. The HFF debt placement team was led by director Jim Curtin.

BUILDING BLOCKS

BRASELTON, GA—Randolph Williamson completed The Lodge by Château Élan, a new Hampton Inn & Suites by Hilton on the estate of Château Élan in Braselton. The 95-key hotel will offer guests access to Georgia's largest winery, 63-holes of championship golf, a 35,000-square-foot spa and seven restaurants. The hotel developer invested an additional $1.5 million to ensure a hotel experience fitting of Château Élan and its surroundings. Located at 5159 Golf Club Drive, less than an hour from Hartsfield-Jackson International Airport, Château Élan Hotels & Resorts manages the hotel. Château Élan is North Atlanta's luxury hotel getaway and meeting event destination. The vision for Château Élan began with the planting of vineyards in 1981. Today, the leisure destination is known for its distinctive combination of French provincial and Southern hospitality.

The market is already heating up in January. As the musical chairs continues, we're seeing ink dry on capital markets deals in key submarkets. In fact, the theme this week was financing deals in secondary and tertiary submarkets.

BY THE NUMBERS

Leading indicators suggest continued economic improvement in rate for July-September came in even with the national average of 4.9%, a decline of 1.3 percentage points from the same period in 2015. With a year-over-year growth of 0.8% projected by the Bureau of Labor Statistics for August 2016, nonfarm employment remained positive. Growth in the Education and Health Services sector, which began in second quarter 2015, continued, reporting largest nonfarm employment sector, Trade, Transportation, and Utilities, also reported positive growth over the year: total employment grew 2.1% to 173,100 jobs in August 2016 from 169,500 in August 2015. Local data reflects the national trend of a tightening labor market. (Source: Cushman & Wakefield)

NEWS & NOTABLES

BIRMINGHAM—J McGlinchey Stafford elected Christopher A. Bottcher as a member of the firm. Bottcher joined McGlinchey Stafford in 2015 and played a key role in the firm's expansion to Alabama through the opening of its Birmingham office that year. Bottcher represents companies across a variety of industries in a vast range of civil, business, and commercial litigation matters, as well as in business and consumer fraud claims. Bottcher frequently represents corporate clients in matters involving trade secrets and the enforcement of restrictive covenants. He represents banks, mortgage servicers, title companies, and property owners in matters involving claims under the Truth in Lending Act and the Real Estate Settlement Procedures Act, as well as in matters involving boundary disputes, establishing easements and means of ingress/egress, mortgage reformations, partitions, and lien priority.

DEAL TRACKER

ATLANTA—Will James, vice president of NorthMarq Capital's Atlanta-based regional office, arranged the $8.521 million financing for historic tax credit equity, equity bridge and construction financing of the MC Kiser Building, an adaptive reuse conversion of a century old building into a 41-unit multifamily property spanning 3,500 square feet of ground floor retail space. The transaction was structured with a 5-year term after a 1-year interest-only construction period. NorthMarq arranged financing for the borrower, Gallman Development Group, through a debt and equity fund provided by Churchill Stateside Group. The MC Kiser Building was originally a shoe manufacturing plant constructed in 1914, and will benefit from the borrowers plan for an “adaptive reuse” of the property. “The MC Kiser Lofts are located in the burgeoning South Downtown area, two blocks from Underground and Garnett Marta Station” says Bill Gallman of Gallman. “South Downtown is adjacent to the Castleberry Hill Arts District, Atlanta's CBD core, and Federal, State, County and City employment centers.”

SUMMERVILLE, GA—Bellwether Enterprise Real Estate Capital, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, closing a $3.261 million refinancing loan on R.H. Floyd Apartments, affordable multifamily housing properties in Summerville. This refinancing will help to promote and enhance affordable housing options in the area. R.H. Floyd Apartments includes 118 residential buildings located on 23 different sites across Summerville. Together, these buildings contain 223 units. The loan includes in excess of $1.74 million, or $8,000 per unit, for the completion of ongoing renovations and infrastructure improvements.

HUNTSVILLE, AL—Berkadia negotiated the sale of Hillside Village and Twickenham Village located in Huntsville with a total of 375 apartment units for $9.925 million or $26,396 per unit. Managing director David Oakley, senior directors David Etchison and David Wilson with the Birmingham office of Berkadia Real Estate Advisors, represented the seller, Huntsville-based Hillside Village, LLC and Twickenham Village, LLC. Hillside Village, with 223 units is located at 4515 Bonnell Drive, and Twickenham Village with 152 units is located at 5001 Galaxy Way. Both apartment communities were built in 1985.

BOAZ, ALABAMA—NAI Miami's Jeremy Larkin and Joseph Gallaher, along with their partners, NAI Chase out of Huntsville, Alabama, represented the seller, VFC Properties 30, LLC in the sale of a 7.5 acre, 129,000 square foot warehouse. The property is located at 410 Henderson Road in Boaz, Alabama. Realtymasters, LLC acquired the warehouse. Financial terms of the deal were not disclosed.

GAINESVILLE, GA—HFF secured financing for Axial Buckhead and TreePark Apartments, two class A, garden-style multifamily properties with 625 units in Atlanta and Gainesville. HFF placed two fixed-rate acquisition loans with two separate lenders for Venterra Realty. The loan for Axial Buckhead has a term of seven years with four years of interest-only payments followed by a 30-year amortization with a fixed interest rate of 3.15%. The loan for TreePark Apartments has a term of 10 years with seven years of interest-only payments followed by a 30-year amortization with a fixed interest rate of 4.5%.

BIRMINGHAM—HFF arranged refinancing for The Summit, a 1.03 million-square-foot, trophy retail center with class A office space in Birmingham. HFF worked on behalf of the borrower, a partnership between Bayer Properties LLC and Institutional Mall Investors LLC, a co-investment venture co-owned by Miller Capital Advisory and CalPERS, to place the 10-year, fixed-rate loan with Bank of America. Loan proceeds are being used to refinance an existing loan. The HFF debt placement team was led by director Jim Curtin.

BUILDING BLOCKS

BRASELTON, GA—Randolph Williamson completed The Lodge by Château Élan, a new Hampton Inn & Suites by Hilton on the estate of Château Élan in Braselton. The 95-key hotel will offer guests access to Georgia's largest winery, 63-holes of championship golf, a 35,000-square-foot spa and seven restaurants. The hotel developer invested an additional $1.5 million to ensure a hotel experience fitting of Château Élan and its surroundings. Located at 5159 Golf Club Drive, less than an hour from Hartsfield-Jackson International Airport, Château Élan Hotels & Resorts manages the hotel. Château Élan is North Atlanta's luxury hotel getaway and meeting event destination. The vision for Château Élan began with the planting of vineyards in 1981. Today, the leisure destination is known for its distinctive combination of French provincial and Southern hospitality.