NEWS & NOTABLES

ATLANTA—Colliers International Multifamily East Region hired former University of Georgia quarterback Aaron Murray as an associate. Prior to joining Colliers, Murray played quarterback professionally for the Philadelphia Eagles and Kansas City Chiefs and is known locally for being the four-year starting quarterback and former team captain of The University of Georgia Bulldogs football team. He is also the Southeastern Conference's all-time leader in passing touchdowns, completions, passing yards and total yards. In addition to his role within Colliers East Region Multifamily, Murray will be in the booth providing color commentary for CBS Sports Network during the 2017 college football season. Colliers Multifamily East Region also welcomes Max Kemether and Austin Weathington to the Atlanta office.

ATLANTA—The Krystal Company appointed Michael Wood as Chief Real Estate Officer. Most recently with Brixmor Property Group, Wood brings over 25 years of experience to his new role. He will be responsible for managing the company's real estate portfolio, stewarding the development strategy and leading the company's reimaging approach for existing legacy locations. For more than 20 years, Wood has served in a number of roles at Brixmor Property Group, most recently as executive vice president of Re/Development. In addition to Wood's industry experience, he also holds the Certified Development, Design, and Construction Professional credential from the International Council of Shopping Centers.

DEAL TRACKER

DOUBLE SPRINGS, AL—On behalf of Southern Energy Homes, Binswanger brokered sale of their single-story five-building industrial property totaling 158,000 square feet on approximately 19 acres. The property is located at 455 Alabama Highway 33 in Double Springs. The Town of Double Springs Alabama purchased the property and plans to use it to assist with industrial recruitment and job creation for the area. The transaction for the seller was handled by David Barber, senior vice president in Binswanger's Atlanta office.

ATLANTA—Lincoln Property Company Southeast won the leasing assignment for a building newly acquired by Redline Property Partners in the Peachtree Corners submarket of Atlanta. Lincoln's Matt Davis and Matt Fergus will lead leasing at 2 Sun Court. The four-story office building is the first Atlanta investment for Redline Property Partners, which plans significant capital improvements and to implement its tailored “concierge style,” management platform. The firm engaged with Grover Corlew to perform the on-site property management.

LOUISVILLE, KY—Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the $25.5 million sale of Breckinridge Square, a 294-unit apartment community. CushWake's Mike Kemether and Craig Collins represented the seller, Stratford Asset Management Co., in the transaction. RealSource Properties acquired the property. “Because the property is located in the desirable sub-market of Saint Mathews, the buyer projects substantial rental growth after a full renovation to take advantage of the expansion of Louisville's largest suburban medical complex just a half mile from the front door of Breckinridge Square,” Collins says.

ATLANTA—SG Property Services acquired Douglasville Medical Center and Prestley Mill Medical Center for a combined $7.5 million. The 41,772-square-foot acquisition includes 8820 Hospital Drive and 4586 Timber Ridge Drive properties. SGPS plans to fill the properties' remaining vacancies by attracting medical users that will be drawn to and desire a location in surgical and diagnostic specialty centers. Douglasville Medical Center is located on the campus of WellStar Douglas Hospital, a 108-bed hospital recognized as one of the top-ranked Community Value hospitals in the nation. Located just off Interstate 20 in Douglasville and half a mile from WellStar Douglas Hospital, Prestley Mill Medical Center entered the market at 90.2% leased with 56$ of its space leased to Northside Hospital and Emory Healthcare.

MARIETTA, GA—A mansion in Marietta, GA with a design inspired by centuries-old, European castles and manors has been scheduled for a luxury auction sale this September. Miami-based real estate auction house Platinum Luxury Auctions, the firm retained by the property owner to conduct the sale, has announced that the home will be sold to the highest bidder who meets or exceeds the auction's reserve bid of $1 million. The live bidding process will be held on the property site on September 9, although buyers can also bid remotely if necessary. The estate was recently offered for sale for $2.5 million. Platinum is working in cooperation with listing agent Toni Itkin for the transaction. Itkin is with the Coldwell Banker Residential Brokerage office in Buckhead, GA.

CLARKSTON, GA—Praxis Capital acquired the 198-unit class B Birch Run Apartments. This is the company's first acquisition in the Atlanta metro. Praxis plans to build a portfolio of approximately 2,000 units in this market. The Praxis executive team, possessing more than $6.3 billion of transactional experience in the multifamily sector, including institutional management of more than 90,000 apartment units, seeks to build a large portfolio of class B and C workforce housing, consistently unlocking embedded value in multifamily real estate. Praxis also looks to expand its relationships with Family Office and Institutional JV Equity sources.

AUGUSTA—CushWake's Southeast Multifamily Advisory Group has arranged the $15 million sale of Woodhill, a 182-unit apartment community. Robert Stickel of Cushman & Wakefield represented the sellers, Intermark Management and King Management, in the transaction. JEM Holdings acquired the property. Woodhill, built in 1986, is less than two miles from Walmart, Kroger, Walgreens and Augusta Mall. Residents further benefit from convenient access to Interstate 520, which enables them to quickly reach major employment centers, including Club Car, T-Mobile, Fort Gordon, and the NSA Facility. Amenities at the property include a resort-style swimming pool, a fitness center, tennis courts and sprawling luxurious clubhouse.

BUILDING BLOCKS

FARMERVILLE, LA—Louisiana Gov. John Bel Edwards and Foster Farms president and CEO Laura Flanagan announced a $30 million capital investment for an expansion and upgrade of the company's poultry processing facilities. The investment will extensively modernize and upgrade the facility's cut-up and deboning departments. The new Foster Farms project will retain 1,092 existing jobs and create 50 new direct jobs, with a total annual payroll of $34.8 million in Union Parish. Louisiana Economic Development estimates the project will result in an additional 42 new indirect jobs, for a total of more than 90 new jobs in North Louisiana. Construction for the Foster Farms expansion project has already begun. The company has also started hiring for the new positions, and all new roles are projected to be filled by October 2017. The company anticipates the capital equipment will be installed and the new project completed also by October 2017.

ATLANTA—This week in the Southeast saw interesting stats on concierges in the region, a noteworthy auction, more musical chairs and a significant expansion in Louisiana.

BY THE NUMBERS

Concierges are booming in popularity in Atlanta, where over 17 percent of rental listings mention them as an amenity. In comparison, only about 4.5 percent of rental listings in other major cities mention a concierge as an offering. (Source: Hotpads)

Other popular amenities in the city, including historic buildings, hardwood floors, skyline views and exposed brick, indicate that Atlanta renters gravitate toward trendy aesthetics and luxury features. (Source: Hotpads)

NEWS & NOTABLES

ATLANTA—Colliers International Multifamily East Region hired former University of Georgia quarterback Aaron Murray as an associate. Prior to joining Colliers, Murray played quarterback professionally for the Philadelphia Eagles and Kansas City Chiefs and is known locally for being the four-year starting quarterback and former team captain of The University of Georgia Bulldogs football team. He is also the Southeastern Conference's all-time leader in passing touchdowns, completions, passing yards and total yards. In addition to his role within Colliers East Region Multifamily, Murray will be in the booth providing color commentary for CBS Sports Network during the 2017 college football season. Colliers Multifamily East Region also welcomes Max Kemether and Austin Weathington to the Atlanta office.

ATLANTA—The Krystal Company appointed Michael Wood as Chief Real Estate Officer. Most recently with Brixmor Property Group, Wood brings over 25 years of experience to his new role. He will be responsible for managing the company's real estate portfolio, stewarding the development strategy and leading the company's reimaging approach for existing legacy locations. For more than 20 years, Wood has served in a number of roles at Brixmor Property Group, most recently as executive vice president of Re/Development. In addition to Wood's industry experience, he also holds the Certified Development, Design, and Construction Professional credential from the International Council of Shopping Centers.

DEAL TRACKER

DOUBLE SPRINGS, AL—On behalf of Southern Energy Homes, Binswanger brokered sale of their single-story five-building industrial property totaling 158,000 square feet on approximately 19 acres. The property is located at 455 Alabama Highway 33 in Double Springs. The Town of Double Springs Alabama purchased the property and plans to use it to assist with industrial recruitment and job creation for the area. The transaction for the seller was handled by David Barber, senior vice president in Binswanger's Atlanta office.

ATLANTA—Lincoln Property Company Southeast won the leasing assignment for a building newly acquired by Redline Property Partners in the Peachtree Corners submarket of Atlanta. Lincoln's Matt Davis and Matt Fergus will lead leasing at 2 Sun Court. The four-story office building is the first Atlanta investment for Redline Property Partners, which plans significant capital improvements and to implement its tailored “concierge style,” management platform. The firm engaged with Grover Corlew to perform the on-site property management.

LOUISVILLE, KY—Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the $25.5 million sale of Breckinridge Square, a 294-unit apartment community. CushWake's Mike Kemether and Craig Collins represented the seller, Stratford Asset Management Co., in the transaction. RealSource Properties acquired the property. “Because the property is located in the desirable sub-market of Saint Mathews, the buyer projects substantial rental growth after a full renovation to take advantage of the expansion of Louisville's largest suburban medical complex just a half mile from the front door of Breckinridge Square,” Collins says.

ATLANTA—SG Property Services acquired Douglasville Medical Center and Prestley Mill Medical Center for a combined $7.5 million. The 41,772-square-foot acquisition includes 8820 Hospital Drive and 4586 Timber Ridge Drive properties. SGPS plans to fill the properties' remaining vacancies by attracting medical users that will be drawn to and desire a location in surgical and diagnostic specialty centers. Douglasville Medical Center is located on the campus of WellStar Douglas Hospital, a 108-bed hospital recognized as one of the top-ranked Community Value hospitals in the nation. Located just off Interstate 20 in Douglasville and half a mile from WellStar Douglas Hospital, Prestley Mill Medical Center entered the market at 90.2% leased with 56$ of its space leased to Northside Hospital and Emory Healthcare.

MARIETTA, GA—A mansion in Marietta, GA with a design inspired by centuries-old, European castles and manors has been scheduled for a luxury auction sale this September. Miami-based real estate auction house Platinum Luxury Auctions, the firm retained by the property owner to conduct the sale, has announced that the home will be sold to the highest bidder who meets or exceeds the auction's reserve bid of $1 million. The live bidding process will be held on the property site on September 9, although buyers can also bid remotely if necessary. The estate was recently offered for sale for $2.5 million. Platinum is working in cooperation with listing agent Toni Itkin for the transaction. Itkin is with the Coldwell Banker Residential Brokerage office in Buckhead, GA.

CLARKSTON, GA—Praxis Capital acquired the 198-unit class B Birch Run Apartments. This is the company's first acquisition in the Atlanta metro. Praxis plans to build a portfolio of approximately 2,000 units in this market. The Praxis executive team, possessing more than $6.3 billion of transactional experience in the multifamily sector, including institutional management of more than 90,000 apartment units, seeks to build a large portfolio of class B and C workforce housing, consistently unlocking embedded value in multifamily real estate. Praxis also looks to expand its relationships with Family Office and Institutional JV Equity sources.

AUGUSTA—CushWake's Southeast Multifamily Advisory Group has arranged the $15 million sale of Woodhill, a 182-unit apartment community. Robert Stickel of Cushman & Wakefield represented the sellers, Intermark Management and King Management, in the transaction. JEM Holdings acquired the property. Woodhill, built in 1986, is less than two miles from Walmart, Kroger, Walgreens and Augusta Mall. Residents further benefit from convenient access to Interstate 520, which enables them to quickly reach major employment centers, including Club Car, T-Mobile, Fort Gordon, and the NSA Facility. Amenities at the property include a resort-style swimming pool, a fitness center, tennis courts and sprawling luxurious clubhouse.

BUILDING BLOCKS

FARMERVILLE, LA—Louisiana Gov. John Bel Edwards and Foster Farms president and CEO Laura Flanagan announced a $30 million capital investment for an expansion and upgrade of the company's poultry processing facilities. The investment will extensively modernize and upgrade the facility's cut-up and deboning departments. The new Foster Farms project will retain 1,092 existing jobs and create 50 new direct jobs, with a total annual payroll of $34.8 million in Union Parish. Louisiana Economic Development estimates the project will result in an additional 42 new indirect jobs, for a total of more than 90 new jobs in North Louisiana. Construction for the Foster Farms expansion project has already begun. The company has also started hiring for the new positions, and all new roles are projected to be filled by October 2017. The company anticipates the capital equipment will be installed and the new project completed also by October 2017.