NEWS & NOTABLES

ATLANTA—Michael Doran has joined Greystone as a managing director working with the agency lending team. A 20-year commercial real estate veteran, Doran will focus on originating mid-to-large sized transactions for permanent, bridge and construction multifamily debt.

Doran most recently served as a principal and portfolio manager at Prudential Mortgage Capital, where he oversaw the construction and bridge programs, and the portfolio management and reporting team. During his 20-year total tenure at Prudential, Doran also served as originations manager for the Mid-Atlantic and Southeast Regions and originated regional CMBS, agency, bridge and portfolio loans. Doran previously served as a vice president of originations at CWCapital, focusing primarily on conduit and agency lending transactions.

MONTGOMERY, AL—Anytime Fitness plans to introduce over 65 locations in targeted areas throughout the state of Alabama. The brand will ramp up growth through strategic franchise partnerships and aims to open the new locations within the next three years. There are currently 31 successful Anytime Fitness locations open throughout the state. Kicking off this newest development push, Birmingham and Auburn area locations are slated to open within the next 12 months, with another four in various stages of development. “The state of Alabama is extremely hospitable—anywhere you go has that homey, small-town feel,” says Tom Gilles, vice president of franchise development. “With proof of concept in the region and community-focused neighborhoods that resonate perfectly with the supportive atmosphere of our gyms, we're poised for explosive growth in the state.”

ATLANTA, GA—Hotel Equities named Marcie Pruitt to the position of corporate controller. Her responsibilities include oversight of the accounting and financial functions for the firm, including staff supervision and owner relations. She reports to Carlos Melgar, vice president of finance. An accounting supervisor with M3 Professional Services for the past three years, Pruitt brings 20 years of accounting experience to her new position. She began her accounting career after college with McKibbon Hospitality in Gainesville, GA.

DEAL TRACKER

ALPHARETTA, GA—Lincoln Property Company Southeast secured four new leases and a lease renewal at Northwinds Office Park. Michael Howell, Hunter Henritze and Caroline Cole of Lincoln represented the landlord. Northwinds is located in the Alpharetta submarket of Atlanta.

Pye Barker signed a lease for 4,923 square feet and IntegraCloud signed a lease for 5,435 square feet in the Northwinds IV building. Brian Camp of Colliers International represented Pye Barker. Professional Datasolutions signed a new lease for 8,415 square feet at Northwinds VI. John Poulos of SK Realty represented the tenant. Strategic Security Solutions signed a lease for 2,052 square feet in Northwinds II and was represented by Court Thomas of Atlanta Property Group. Also in Northwinds II, Stewart, Kizzar & Brockelbank renewed its lease.

AUGUSTA, GA—Wanda Riggs Mack, vice president of NorthMarq Capital's Atlanta regional office, arranged the acquisition financing of $14.8 million for Madison on the Green, a 276-unit multifamily property in Augusta. The transaction was structured with a three-year term with all three years interest-only. NorthMarq arranged financing for the borrower through its relationship with a bridge lender.

ALPHARETTA, GA—Lincoln Property Company Southeast won the leasing assignment for Royal 400, a class A single-story office park in Alpharetta. Matt Davis and George Gwaltney of Lincoln are handling leasing for the landlord TerraCap Management. Royal 400 is situated in an area that has seen rapid growth in recent years. Office tenants can enjoy a variety of nearby amenities including North Point Mall and top-rated shops and restaurants at Avalon. The property is comprised of three buildings totaling 137,000 square feet and is currently 81% leased. Royal 400 has vacancies ranging from 1,000 square feet up to 15,000 square feet in a variety of configurations.

MARIETTA, GA—Newmarket Business Park, a 471,486-square-foot, class B, multi-tenant office property in Marietta, GA, has won the confidence of investors. Walker & Dunlop closed an approximate $59 million combination of bridge and equity financing against the office asset. Led by Mark Strauss and Rob Quarton, Walker & Dunlop's Irvine, California-based team represented the sponsors, Praelium Commercial Real Estate and South Street Partners, in acquiring the asset. A debt fund placed the financing, arranged as a floating rate bridge loan with full-term interest only payments. A hedge fund invested the equity. According to W&D, the transaction highlights the availability of attractive bridge financing in today's market.

ATLANTA—AMLI at Milton Park, a multifamily asset in Alpharetta, GA, has traded hands. The financial terms of the deal were not disclosed. CBRE's Paul Berry, Ashish Cholia, Malcolm McComb and John Whitlow represented the seller, a venture of AMLI Residential and Northwestern Mutual. Renamed Lakeside at Milton Park, the 461-unit mixed-use complex was purchased by Olen Properties. Completed in 2004, AMLI at Milton Park was ahead of its time. The overall Milton Park development utilized its highly landscaped street grid to combine class A apartments, class A office, for-sale residential and a picturesque park with lake into one of Metro Atlanta's most pleasing mixed-use environments. The new owner will look to enhance unit interior details and amenities to keep the property among Alpharetta's leaders.

BUILDING BLOCKS

OliverMcMillan is building a 17-story high-rise office tower in Buckhead. The Office Buckhead Atlanta will offer the market 330,000 square feet of class A office space and 30,000 square feet of ground level retail and restaurants at 300 East Paces Ferry Road. Designed by renowned architect Gensler, the office project will feature sustainably designed, modern architecture. Plans for the office development include oversized windows for maximum daylight and panoramic views of Buckhead, Midtown and Downtown skylines. The office building will include a variety of amenities, from state-of-the-art technology and a premier fitness center, to space for employees to relax with views of Atlanta, along with shopping, dining and fitness all within walking distance.

This week in the Southeast saw a major expansion announced in Alabama. Meanwhile, musical chairs continue and a new office building is rising in Atlanta.

BY THE NUMBERS

Despite a brief lull in the beginning of the summer, activity has begun to ramp back up with several projects between 250,000 to 1.3 million scout for available space. (Source: Cushman & Wakefield)

There are currently 16 projects 150,000 square feet and greater, totaling 12.79 million square feet. (Source: Cushman & Wakefield)

NEWS & NOTABLES

ATLANTA—Michael Doran has joined Greystone as a managing director working with the agency lending team. A 20-year commercial real estate veteran, Doran will focus on originating mid-to-large sized transactions for permanent, bridge and construction multifamily debt.

Doran most recently served as a principal and portfolio manager at Prudential Mortgage Capital, where he oversaw the construction and bridge programs, and the portfolio management and reporting team. During his 20-year total tenure at Prudential, Doran also served as originations manager for the Mid-Atlantic and Southeast Regions and originated regional CMBS, agency, bridge and portfolio loans. Doran previously served as a vice president of originations at CWCapital, focusing primarily on conduit and agency lending transactions.

MONTGOMERY, AL—Anytime Fitness plans to introduce over 65 locations in targeted areas throughout the state of Alabama. The brand will ramp up growth through strategic franchise partnerships and aims to open the new locations within the next three years. There are currently 31 successful Anytime Fitness locations open throughout the state. Kicking off this newest development push, Birmingham and Auburn area locations are slated to open within the next 12 months, with another four in various stages of development. “The state of Alabama is extremely hospitable—anywhere you go has that homey, small-town feel,” says Tom Gilles, vice president of franchise development. “With proof of concept in the region and community-focused neighborhoods that resonate perfectly with the supportive atmosphere of our gyms, we're poised for explosive growth in the state.”

ATLANTA, GA—Hotel Equities named Marcie Pruitt to the position of corporate controller. Her responsibilities include oversight of the accounting and financial functions for the firm, including staff supervision and owner relations. She reports to Carlos Melgar, vice president of finance. An accounting supervisor with M3 Professional Services for the past three years, Pruitt brings 20 years of accounting experience to her new position. She began her accounting career after college with McKibbon Hospitality in Gainesville, GA.

DEAL TRACKER

ALPHARETTA, GA—Lincoln Property Company Southeast secured four new leases and a lease renewal at Northwinds Office Park. Michael Howell, Hunter Henritze and Caroline Cole of Lincoln represented the landlord. Northwinds is located in the Alpharetta submarket of Atlanta.

Pye Barker signed a lease for 4,923 square feet and IntegraCloud signed a lease for 5,435 square feet in the Northwinds IV building. Brian Camp of Colliers International represented Pye Barker. Professional Datasolutions signed a new lease for 8,415 square feet at Northwinds VI. John Poulos of SK Realty represented the tenant. Strategic Security Solutions signed a lease for 2,052 square feet in Northwinds II and was represented by Court Thomas of Atlanta Property Group. Also in Northwinds II, Stewart, Kizzar & Brockelbank renewed its lease.

AUGUSTA, GA—Wanda Riggs Mack, vice president of NorthMarq Capital's Atlanta regional office, arranged the acquisition financing of $14.8 million for Madison on the Green, a 276-unit multifamily property in Augusta. The transaction was structured with a three-year term with all three years interest-only. NorthMarq arranged financing for the borrower through its relationship with a bridge lender.

ALPHARETTA, GA—Lincoln Property Company Southeast won the leasing assignment for Royal 400, a class A single-story office park in Alpharetta. Matt Davis and George Gwaltney of Lincoln are handling leasing for the landlord TerraCap Management. Royal 400 is situated in an area that has seen rapid growth in recent years. Office tenants can enjoy a variety of nearby amenities including North Point Mall and top-rated shops and restaurants at Avalon. The property is comprised of three buildings totaling 137,000 square feet and is currently 81% leased. Royal 400 has vacancies ranging from 1,000 square feet up to 15,000 square feet in a variety of configurations.

MARIETTA, GA—Newmarket Business Park, a 471,486-square-foot, class B, multi-tenant office property in Marietta, GA, has won the confidence of investors. Walker & Dunlop closed an approximate $59 million combination of bridge and equity financing against the office asset. Led by Mark Strauss and Rob Quarton, Walker & Dunlop's Irvine, California-based team represented the sponsors, Praelium Commercial Real Estate and South Street Partners, in acquiring the asset. A debt fund placed the financing, arranged as a floating rate bridge loan with full-term interest only payments. A hedge fund invested the equity. According to W&D, the transaction highlights the availability of attractive bridge financing in today's market.

ATLANTA—AMLI at Milton Park, a multifamily asset in Alpharetta, GA, has traded hands. The financial terms of the deal were not disclosed. CBRE's Paul Berry, Ashish Cholia, Malcolm McComb and John Whitlow represented the seller, a venture of AMLI Residential and Northwestern Mutual. Renamed Lakeside at Milton Park, the 461-unit mixed-use complex was purchased by Olen Properties. Completed in 2004, AMLI at Milton Park was ahead of its time. The overall Milton Park development utilized its highly landscaped street grid to combine class A apartments, class A office, for-sale residential and a picturesque park with lake into one of Metro Atlanta's most pleasing mixed-use environments. The new owner will look to enhance unit interior details and amenities to keep the property among Alpharetta's leaders.

BUILDING BLOCKS

OliverMcMillan is building a 17-story high-rise office tower in Buckhead. The Office Buckhead Atlanta will offer the market 330,000 square feet of class A office space and 30,000 square feet of ground level retail and restaurants at 300 East Paces Ferry Road. Designed by renowned architect Gensler, the office project will feature sustainably designed, modern architecture. Plans for the office development include oversized windows for maximum daylight and panoramic views of Buckhead, Midtown and Downtown skylines. The office building will include a variety of amenities, from state-of-the-art technology and a premier fitness center, to space for employees to relax with views of Atlanta, along with shopping, dining and fitness all within walking distance.