ATLANTA—Urban Land Institute Atlanta bestowed Jerome (Jerry) Cooper, principal, chairman of the board and co-founder of Atlanta-based design firm Cooper Carry, one of its highest honors: the 2017 Frank Carter Community Achievement award. Named for the late Frank Carter of real estate investment, development and advisory firm Carter, the award, “recognizes an individual in the development or real estate-related field who has made an outstanding contribution to the Atlanta community in his or her lifetime.” Cooper and Walter Carry established Cooper Carry in 1960 with the vision to create a firm focused on connective architecture—a concept that connects ideas and people to the places where they live, learn, work and play. Fifty-seven years later, Cooper remains actively involved, having received more than 100 design awards under his tenure.

ATLANTA—Arbor Realty Trust hired Jason Scott as regional managing director for the Southeast. Scott will target the southeast region for Arbor and will focus primarily on originating agency and structured loan transactions. He is based out of Arbor's Atlanta office and reports directly to John Caulfield, Arbor's COO of agency lending. With over 16 years in the industry, Scott has extensive experience delivering client specific financing across all agency platforms as well as CMBS and structured loan products. For the past decade, Scott was employed by Regions Bank in Atlanta, most recently serving as a director of originations. He was also at RBC Capital Markets in Atlanta in the Real Estate Investment Banking division, working on mergers and acquisitions and raising both debt and equity for public REIT clients. In addition, he served as a Senior Associate, Investment Banking at FTI Capital Advisors/Andersen Corporate Finance in New York.

DEAL TRACKER

PEACHTREE CORNERS, GA—Lincoln Property Company Southeast secured a new lease, lease renewals and a lease expansion at The Corners office park in the Peachtree Corners submarket of Atlanta. Matt Davis, Michael Howell and George Gwaltney of Lincoln represented the owner, Glenfield Capital. New Prosys Corp signed a new lease for 17,017 square feet in building 6025 at The Corners. Generated Systems Technologies, Allen Insurance Group and Cyber Object renewed leases. Algosec expanded its lease by 2,369 square feet.

ATLANTA—The Promise Homes Company, a newly-formed single-family residential rental property asset manager, has launched with $130 million in initial funding from private investors. Founded by social entrepreneur and businessman John Hope Bryant, Promise Homes has established a business model that seeks to provide residents with quality housing at affordable prices as well as free financial and economic support services through a contract with Operation HOPE—a non-profit, global provider of financial dignity education and economic empowerment programs. Promise Homes also announced its first acquisition of a $22 million portfolio of single-family homes in the Atlanta area from an institutional owner of single-family homes, making Promise Homes one of the largest minority-controlled owners of institutional-quality, single-family residential rental homes in the US.

ATLANTA—Mission Rock Residential scored a new management contract for The Park at Riverview, a Georgia apartment community off Atlanta's Campbellton Road. The new property management agreement comes alongside the acquisition of the property by Hamilton Zanze Real Estate Investments, a national multifamily real estate investor based in San Francisco. This is the second property for Mission Rock in Atlanta. The first, the Residences at Vinings Mountain, came into Mission Rock management in January.

BUILDING BLOCKS

ATLANTA—SunTrust Commercial Real Estate, a division of SunTrust Banks, arranged a $42.7 million construction loan to Holder Properties for the development of the new corporate headquarters for Serta Simmons Bedding. Holder will develop over 210,000 square feet of office, showroom and R&D space, as well as a 550-space parking deck on the Serta Simmons headquarters campus. The development is located at Assembly, a 165-acre mixed-use urban renewal project in Doraville, GA on the site of the former General Motors plant.

Early this week in the Southeast, Georgia generated most of the commercial real estate news—and Atlanta generated most of the Georgia real estate news. An Atlanta icon is being honored. A newly-formed company is gaining fast traction. And the ink is drying on a significant construction loan.

BY THE NUMBERS

Even with the number of deals declining, Atlanta's second quarter office sales volume is on an upslope, by 64% year-over-year and 44% compared to the first quarter, from $433 million in the second quarter of 2016 to $626 million. (Source: CommercialCafe.com)

NEWS & NOTABLES

ATLANTA—Urban Land Institute Atlanta bestowed Jerome (Jerry) Cooper, principal, chairman of the board and co-founder of Atlanta-based design firm Cooper Carry, one of its highest honors: the 2017 Frank Carter Community Achievement award. Named for the late Frank Carter of real estate investment, development and advisory firm Carter, the award, “recognizes an individual in the development or real estate-related field who has made an outstanding contribution to the Atlanta community in his or her lifetime.” Cooper and Walter Carry established Cooper Carry in 1960 with the vision to create a firm focused on connective architecture—a concept that connects ideas and people to the places where they live, learn, work and play. Fifty-seven years later, Cooper remains actively involved, having received more than 100 design awards under his tenure.

ATLANTA—Arbor Realty Trust hired Jason Scott as regional managing director for the Southeast. Scott will target the southeast region for Arbor and will focus primarily on originating agency and structured loan transactions. He is based out of Arbor's Atlanta office and reports directly to John Caulfield, Arbor's COO of agency lending. With over 16 years in the industry, Scott has extensive experience delivering client specific financing across all agency platforms as well as CMBS and structured loan products. For the past decade, Scott was employed by Regions Bank in Atlanta, most recently serving as a director of originations. He was also at RBC Capital Markets in Atlanta in the Real Estate Investment Banking division, working on mergers and acquisitions and raising both debt and equity for public REIT clients. In addition, he served as a Senior Associate, Investment Banking at FTI Capital Advisors/Andersen Corporate Finance in New York.

DEAL TRACKER

PEACHTREE CORNERS, GA—Lincoln Property Company Southeast secured a new lease, lease renewals and a lease expansion at The Corners office park in the Peachtree Corners submarket of Atlanta. Matt Davis, Michael Howell and George Gwaltney of Lincoln represented the owner, Glenfield Capital. New Prosys Corp signed a new lease for 17,017 square feet in building 6025 at The Corners. Generated Systems Technologies, Allen Insurance Group and Cyber Object renewed leases. Algosec expanded its lease by 2,369 square feet.

ATLANTA—The Promise Homes Company, a newly-formed single-family residential rental property asset manager, has launched with $130 million in initial funding from private investors. Founded by social entrepreneur and businessman John Hope Bryant, Promise Homes has established a business model that seeks to provide residents with quality housing at affordable prices as well as free financial and economic support services through a contract with Operation HOPE—a non-profit, global provider of financial dignity education and economic empowerment programs. Promise Homes also announced its first acquisition of a $22 million portfolio of single-family homes in the Atlanta area from an institutional owner of single-family homes, making Promise Homes one of the largest minority-controlled owners of institutional-quality, single-family residential rental homes in the US.

ATLANTA—Mission Rock Residential scored a new management contract for The Park at Riverview, a Georgia apartment community off Atlanta's Campbellton Road. The new property management agreement comes alongside the acquisition of the property by Hamilton Zanze Real Estate Investments, a national multifamily real estate investor based in San Francisco. This is the second property for Mission Rock in Atlanta. The first, the Residences at Vinings Mountain, came into Mission Rock management in January.

BUILDING BLOCKS

ATLANTA—SunTrust Commercial Real Estate, a division of SunTrust Banks, arranged a $42.7 million construction loan to Holder Properties for the development of the new corporate headquarters for Serta Simmons Bedding. Holder will develop over 210,000 square feet of office, showroom and R&D space, as well as a 550-space parking deck on the Serta Simmons headquarters campus. The development is located at Assembly, a 165-acre mixed-use urban renewal project in Doraville, GA on the site of the former General Motors plant.