ATLANTA—Commissions has been recognized by The Atlanta Chapter of the Association for Corporate Growth as the 7th fastest-growing lower middle-market company in Georgia. A global professional organization focused on middle-market growth, mergers and acquisitions, and private investment, the ACG honors the top 40 fastest-growing middle-market companies headquartered in Georgia, annually. 2017 marks the second consecutive year that CINC advanced into the top 10, following an additional year of remarkable growth in 2016. Award criteria include: 2016 revenue ranging between $15 and $500 million and three years of verifiable revenue and employment growth.

DEAL TRACKER

MACON, GA—Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the $27.5 million sale of River stone, a 220-unit apartment community in Macon. Robert Stickel of Cushman & Wakefield represented the seller, H Katz Capital Group, in the transaction. Kole Management Company acquired the property. “Riverstone is a top-tier asset with an outstanding amenity package and convenient access to premier job centers throughout central Georgia,” Stickle says.

UNION CITY, GA—Balfour Beatty Communities acquired Evergreen Commons, a multifamily asset in Union City. The multifamily property includes 328 units built in 2001 and 2004. The gated community offers one-, two-, and 3-bedroom shames and amenities that include a pool, fitness center, playground, tennis and other sport courts. Balfour Beatty will self-perform property management services through its Multifamily Division and will invest in a series of capital improvements to the properties, including both interior and exterior upgrades.

ATLANTA—Getty Realty Corp. entered into a definitive agreement providing for acquisition lease-back funding to Empire Petroleum Partners, LLC. The company, through a subsidiary, will acquire fee simple interests in 49 convenience store and gasoline station properties for $123 million under a unitary lease. The transaction is expected to close before the end of the third quarter of 2017. The properties are located primarily within metropolitan markets in the states of Arizona, Colorado, Florida, Georgia, Louisiana, New Mexico and Texas. The unitary lease to be effective at closing provides for an initial term of 15 years, with four five-year renewal options. Rent is scheduled to increase annually during the initial and renewal terms of the lease.

FAIRBURN, GA—Balfour Beatty Communities acquired Evergreen Park consists of 310 units located in Fairburn. Built in 2005, this gated community features one-, two-, and three-bedroom apartment homes and amenities that include indoor/outdoor pools, tennis court, putting green and playground. Balfour Beatty will self-perform property management services through its Multifamily Division and will invest in a series of capital improvements to the properties, including both interior and exterior upgrades.

BUILDING BLOCKS

ATLANTA—North American Properties (NAP) broke ground on Edge, an $80 million mixed-use community on the Atlanta BeltLine's Eastside Trail. In partnership with Atlanta BeltLine, Inc. and The Conservation Fund Partner, NAP is working to transform an environmentally contaminated site into a modern living and working environment. Edge will line both sides of the BeltLine's Eastside Trail with 29,000 square feet of experiential retail, indoor/outdoor dining, loft offices, and a pedestrian bridge over the trail to connect it all. Out of the 350 residential units, 30% will be dedicated to affordable workforce housing for the portion of the property purchased from ABI. The retail and residential components of Edge will open in early Spring of 2019.

Early this week in the Southeast saw Georgia dominate the commercial real estate headlines. Georgia's secondary and tertiary markets saw strong deal flow.

BY THE NUMBERS

Delayed marriages, an aging population and international immigration are increasing a pressing need for new apartments, to the tune of 4.6 million by 2030. Currently, nearly 39 million people live in apartments, and the apartment industry is quickly exceeding capacity. (Source: National Multifamily Housing Council and the National Apartment Association.

NEWS & NOTABLES

ATLANTA—Commissions has been recognized by The Atlanta Chapter of the Association for Corporate Growth as the 7th fastest-growing lower middle-market company in Georgia. A global professional organization focused on middle-market growth, mergers and acquisitions, and private investment, the ACG honors the top 40 fastest-growing middle-market companies headquartered in Georgia, annually. 2017 marks the second consecutive year that CINC advanced into the top 10, following an additional year of remarkable growth in 2016. Award criteria include: 2016 revenue ranging between $15 and $500 million and three years of verifiable revenue and employment growth.

DEAL TRACKER

MACON, GA—Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the $27.5 million sale of River stone, a 220-unit apartment community in Macon. Robert Stickel of Cushman & Wakefield represented the seller, H Katz Capital Group, in the transaction. Kole Management Company acquired the property. “Riverstone is a top-tier asset with an outstanding amenity package and convenient access to premier job centers throughout central Georgia,” Stickle says.

UNION CITY, GA—Balfour Beatty Communities acquired Evergreen Commons, a multifamily asset in Union City. The multifamily property includes 328 units built in 2001 and 2004. The gated community offers one-, two-, and 3-bedroom shames and amenities that include a pool, fitness center, playground, tennis and other sport courts. Balfour Beatty will self-perform property management services through its Multifamily Division and will invest in a series of capital improvements to the properties, including both interior and exterior upgrades.

ATLANTA—Getty Realty Corp. entered into a definitive agreement providing for acquisition lease-back funding to Empire Petroleum Partners, LLC. The company, through a subsidiary, will acquire fee simple interests in 49 convenience store and gasoline station properties for $123 million under a unitary lease. The transaction is expected to close before the end of the third quarter of 2017. The properties are located primarily within metropolitan markets in the states of Arizona, Colorado, Florida, Georgia, Louisiana, New Mexico and Texas. The unitary lease to be effective at closing provides for an initial term of 15 years, with four five-year renewal options. Rent is scheduled to increase annually during the initial and renewal terms of the lease.

FAIRBURN, GA—Balfour Beatty Communities acquired Evergreen Park consists of 310 units located in Fairburn. Built in 2005, this gated community features one-, two-, and three-bedroom apartment homes and amenities that include indoor/outdoor pools, tennis court, putting green and playground. Balfour Beatty will self-perform property management services through its Multifamily Division and will invest in a series of capital improvements to the properties, including both interior and exterior upgrades.

BUILDING BLOCKS

ATLANTA—North American Properties (NAP) broke ground on Edge, an $80 million mixed-use community on the Atlanta BeltLine's Eastside Trail. In partnership with Atlanta BeltLine, Inc. and The Conservation Fund Partner, NAP is working to transform an environmentally contaminated site into a modern living and working environment. Edge will line both sides of the BeltLine's Eastside Trail with 29,000 square feet of experiential retail, indoor/outdoor dining, loft offices, and a pedestrian bridge over the trail to connect it all. Out of the 350 residential units, 30% will be dedicated to affordable workforce housing for the portion of the property purchased from ABI. The retail and residential components of Edge will open in early Spring of 2019.