NEWS & NOTABLES

NASHVILLE—Transwestern expanded its operations to Nashville to meet growing demand for commercial real estate advisory services in the market. Providing agency leasing, tenant advisory, capital markets and asset services to real estate owners and users throughout the market, the company's 35th office has been retained to manage One Century Place at 26 Century Bouleveard on behalf of Griffin Capital Company LLC. “Nashville is increasingly a target market for investors that require strategic real estate advisory services,” says Chip Clarke, Transwestern's president for the Americas. “With the strength of the Nashville economy, driven by the healthcare, technology, music and tourism industries, the timing is right for Transwestern to leverage our best-in-class service and expand our footprint in the region.”

MEMPHIS—The Southern Lodging Summit will host its annual conference August 29-30, 2017, in Memphis. Celebrating its 15th year, the conference offers networking opportunities with industry experts and event speakers such as keynote speaker and Burba Hotel Network co-founder James E. Burba. “Much like the pink Energizer bunny, the good times in the hospitality industry just seem to keep going and going and going,” says Chuck Pinkowski, owner of Pinkowski & Company and conference co-founder. “Attendees will hear from some of the most respected minds in the industry as we navigate the future together.”

DEAL TRACKER

ATLANTA—Colliers International advised New York-based Clarion Partners in the refinancing of a 40-property portfolio of industrial distribution buildings in Atlanta. The portfolio, owned by a joint venture advised by Clarion Partners, is comprised of 3.7 million square feet of well-located class A and class B industrial buildings and was 100% leased at the date of closing. Kevin Troy and Hank Hall with Colliers International Atlanta arranged $81 million in financing, which was provided by Principal Global Investors.

ORANGE BEACH, AL—Atlanta-based Hotel Equities opened the Island House Hotel Orange Beach – a DoubleTree by Hilton after a multi-million-dollar renovation. Owned by Island House, and managed by Hotel Equities, the hotel is located at 26650 Perdido Beach Boulevard, Orange Beach. “As the Alabama Gulf Coast area continues to grow in popularity for leisure and business, we are excited to open the Island House as a DoubleTree and introduce the Doubletree by Hilton brand to Orange Beach,” says Joe Reardon, senior vice president business of development and marketing. “Our ownership group has completed a first-class renovation that will allow guests to enjoy a unique beach experience whether they are traveling with family on vacation or on business.”

SUWANEE, GA—Caddis is moving full speed ahead with its second Heartis senior living community in Georgia—the 187,375-square-foot Heartis Suwanee in this suburb near Atlanta. The national healthcare real estate firm finalized the financial closing on the project, which will include 175 independent living, assisted living and memory care units in a single-story, two-story and three-story building. The senior community, which is expected to be completed in November 2018, will be located on a 10-acre site on the northwest corner of Suwanee Dam Road and Brogdon Road. The architect for the project is Austin, Texas-based Katus.

New IBERIA, LA—Hampshire Companies, a full service, private real estate investment firm, acquired a six-store Walmart Neighborhood Markets portfolio totaling 255,968 square feet in southern Louisiana from SkilkenGold Real Estate Development. The properties were acquired in a joint venture with Hanna Asset Management Company from Seoul, South Korea, and several of their institutional and retail investors. The portfolio consists of six, newly constructed free-standing retail stores located throughout southern Louisiana in Houma, Meraux, New Iberia, Opelousas, Prairieville and Thibodaux. “We continue to see foreign investors looking to utilize capital to purchase core investments with well-known, strong tenants in mature and established markets across the country,” says Robert T. Schmitt, a principal of Hampshire Companies. “Our knowledge of the US real estate market, global economy, and proven, cycle-tested investment strategies made us an ideal partner for this investment with our South Korean partners.”

BUFORD, GA—HFF closed the sale of Golden Park Village, a 68,738-square-foot, Publix-anchored neighborhood retail center in the northern Atlanta suburb of Buford. Phillips Edison Grocery Center REIT II purchased the asset free and clear of existing debt. Located at 4840 Golden Parkway in Buford, Golden Park Village sits at the “main and main” intersection of Interstate 985 and Lanier Islands Parkway approximately three miles east of Lake Lanier, which attracts roughly 7.5 million visitors each year. More than 24,000 residents earning an average annual income of more than $86,000 live within a three-mile radius of the center and nearly 81,000 vehicles pass the property each day. Golden Park Village is 92 percent leased to a variety of tenants, including Publix, The UPS Store and Great Clips.

AUGUSTA—Interluxe is hosting an auction sale of a custom six-bedroom home located in the private gated community of Westlake just outside Augusta. This is the third sale Interluxe has offered in the Augusta area within the past year. When asked why the online auction format has become so popular in the high end real estate market, Interluxe president Scott Kirk said, “Because it's the best way to determine the market value of a one-of-a-kind property. It delivers liquidity and secure terms for the seller while reaching a wider pool of qualified buyers who can obtain the best pricing through market based bidding. This format has been incredibly successful for both buyers and sellers.”

ATLANTA—Preferred Apartment Communities closed on a loan investment of up to approximately $22.4 million. This investment is in connection with 360 Residential's plans to develop a 356-unit multifamily community located in the Atlanta MSA. With this investment, PAC received an option to purchase the multifamily community following stabilization at a discounted price to market.

This week in the Southeast saw a strong representation in deal flow across the region. Georgia still took the lead, but submarkets are rising.

BY THE NUMBERS

Three of the four largest transactions in Atlanta in 2016 all took place in LEED certified buildings. One notable new deal signed within a LEED building was a 293,035-square-foot renewal at One Georgia Center by the Georgia Department of Transportation. (Source: Green Building Adoption Index study by CBRE and Maastricht University)

In terms of sales activity, Atlanta performed well, with 28 LEED certified buildings trading in 2016. (Source: Green Building Adoption Index study by CBRE and Maastricht University)

NEWS & NOTABLES

NASHVILLE—Transwestern expanded its operations to Nashville to meet growing demand for commercial real estate advisory services in the market. Providing agency leasing, tenant advisory, capital markets and asset services to real estate owners and users throughout the market, the company's 35th office has been retained to manage One Century Place at 26 Century Bouleveard on behalf of Griffin Capital Company LLC. “Nashville is increasingly a target market for investors that require strategic real estate advisory services,” says Chip Clarke, Transwestern's president for the Americas. “With the strength of the Nashville economy, driven by the healthcare, technology, music and tourism industries, the timing is right for Transwestern to leverage our best-in-class service and expand our footprint in the region.”

MEMPHIS—The Southern Lodging Summit will host its annual conference August 29-30, 2017, in Memphis. Celebrating its 15th year, the conference offers networking opportunities with industry experts and event speakers such as keynote speaker and Burba Hotel Network co-founder James E. Burba. “Much like the pink Energizer bunny, the good times in the hospitality industry just seem to keep going and going and going,” says Chuck Pinkowski, owner of Pinkowski & Company and conference co-founder. “Attendees will hear from some of the most respected minds in the industry as we navigate the future together.”

DEAL TRACKER

ATLANTA—Colliers International advised New York-based Clarion Partners in the refinancing of a 40-property portfolio of industrial distribution buildings in Atlanta. The portfolio, owned by a joint venture advised by Clarion Partners, is comprised of 3.7 million square feet of well-located class A and class B industrial buildings and was 100% leased at the date of closing. Kevin Troy and Hank Hall with Colliers International Atlanta arranged $81 million in financing, which was provided by Principal Global Investors.

ORANGE BEACH, AL—Atlanta-based Hotel Equities opened the Island House Hotel Orange Beach – a DoubleTree by Hilton after a multi-million-dollar renovation. Owned by Island House, and managed by Hotel Equities, the hotel is located at 26650 Perdido Beach Boulevard, Orange Beach. “As the Alabama Gulf Coast area continues to grow in popularity for leisure and business, we are excited to open the Island House as a DoubleTree and introduce the Doubletree by Hilton brand to Orange Beach,” says Joe Reardon, senior vice president business of development and marketing. “Our ownership group has completed a first-class renovation that will allow guests to enjoy a unique beach experience whether they are traveling with family on vacation or on business.”

SUWANEE, GA—Caddis is moving full speed ahead with its second Heartis senior living community in Georgia—the 187,375-square-foot Heartis Suwanee in this suburb near Atlanta. The national healthcare real estate firm finalized the financial closing on the project, which will include 175 independent living, assisted living and memory care units in a single-story, two-story and three-story building. The senior community, which is expected to be completed in November 2018, will be located on a 10-acre site on the northwest corner of Suwanee Dam Road and Brogdon Road. The architect for the project is Austin, Texas-based Katus.

New IBERIA, LA—Hampshire Companies, a full service, private real estate investment firm, acquired a six-store Walmart Neighborhood Markets portfolio totaling 255,968 square feet in southern Louisiana from SkilkenGold Real Estate Development. The properties were acquired in a joint venture with Hanna Asset Management Company from Seoul, South Korea, and several of their institutional and retail investors. The portfolio consists of six, newly constructed free-standing retail stores located throughout southern Louisiana in Houma, Meraux, New Iberia, Opelousas, Prairieville and Thibodaux. “We continue to see foreign investors looking to utilize capital to purchase core investments with well-known, strong tenants in mature and established markets across the country,” says Robert T. Schmitt, a principal of Hampshire Companies. “Our knowledge of the US real estate market, global economy, and proven, cycle-tested investment strategies made us an ideal partner for this investment with our South Korean partners.”

BUFORD, GA—HFF closed the sale of Golden Park Village, a 68,738-square-foot, Publix-anchored neighborhood retail center in the northern Atlanta suburb of Buford. Phillips Edison Grocery Center REIT II purchased the asset free and clear of existing debt. Located at 4840 Golden Parkway in Buford, Golden Park Village sits at the “main and main” intersection of Interstate 985 and Lanier Islands Parkway approximately three miles east of Lake Lanier, which attracts roughly 7.5 million visitors each year. More than 24,000 residents earning an average annual income of more than $86,000 live within a three-mile radius of the center and nearly 81,000 vehicles pass the property each day. Golden Park Village is 92 percent leased to a variety of tenants, including Publix, The UPS Store and Great Clips.

AUGUSTA—Interluxe is hosting an auction sale of a custom six-bedroom home located in the private gated community of Westlake just outside Augusta. This is the third sale Interluxe has offered in the Augusta area within the past year. When asked why the online auction format has become so popular in the high end real estate market, Interluxe president Scott Kirk said, “Because it's the best way to determine the market value of a one-of-a-kind property. It delivers liquidity and secure terms for the seller while reaching a wider pool of qualified buyers who can obtain the best pricing through market based bidding. This format has been incredibly successful for both buyers and sellers.”

ATLANTA—Preferred Apartment Communities closed on a loan investment of up to approximately $22.4 million. This investment is in connection with 360 Residential's plans to develop a 356-unit multifamily community located in the Atlanta MSA. With this investment, PAC received an option to purchase the multifamily community following stabilization at a discounted price to market.