NEWS & NOTABLES

DECATUR, GA—Cushman & Wakefield has been selected by NORO, Pope & Land, and Coro Realty Advisors to lease and manage One West Court Square, a 159,705-square-foot class A office building In Decatur. Aileen Almassy and Laura Power of Cushman & Wakefield will oversee office leasing of the seven-story building. Siobhan McNichols of Cushman & Wakefield will serve as property manager. The leasing and management assignment comes on the heels of the recent acquisition of the building. One West Court Square, located at 158 West Ponce De Leon Ave., includes an attached four-level parking garage, three on-site restaurants and within walking distance to a robust amenity base centered around Decatur's Square.

DEAL TRACKER

LITHIA SPRINGS, GA—Waterford Point, a 344-unit apartment community located in Lithia Springs, GA, has traded hands. Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the sale of in metro Atlanta. CushWake's Nathan Swenson represented the seller, PointOne Holdings, in a joint venture with Biscayne Atlantic, in the transaction. Elite Street Capital acquired the property. “Waterford Point had an impressive trend of rent growth, both organically and through value-add implementation, which the market responded to very favorably,” Swenson tells GlobeSt.com. “Additionally, being located in Douglas County, which has an effective ban on multifamily development, only added to the asset's desirability.”

ATLANTA—A three-property multifamily portfolio located in Northeast Atlanta has traded hands. The sale price: $76.5 million. Cushman & Wakefield's Southeast Multifamily Advisory Group arranged the multifamily sale. CushWake's Mike Kemether and Tyler Averitt represented the seller, Audubon Communities, in the transaction. Landmark at Creekside Grand, a multifamily property in East Point, GA, has traded hands. Financial terms of the deal were not disclosed. Led by principals Shawn Collins and Neil Herceg, Blackmount Real Estate Partners acquired the townhome asset. The deal marks Blackmount's first purchase in metro Atlanta. CBRE's Shea Campbell represented the seller.

ATLANTA—Cushman & Wakefield arranged a 48,871-square-foot renewal and 8,486-square-foot expansion for SunTrust Bank at 211 Perimeter Center in Atlanta's Central Perimeter submarket. Kirk Diamond, April Parrish, Erin Smith and Steven Taylor of Cushman & Wakefield represented the tenant in the transaction, and Jeff Frantz of JLL represented the landlord, Windsor at Convergence 211 LLC. The 10-story 211 Perimeter Center building features a newly renovated two-story atrium lobby, flexible floor plates and a new building-wide HVAC system. The 223,091-square-foot, class A office building includes a café, an outdoor seating area and a fitness center.

ATLANTA—Landmark at Creekside Grand, a multifamily property in East Point, GA, has traded hands. Financial terms of the deal were not disclosed. Led by principals Shawn Collins and Neil Herceg, Blackmount Real Estate Partners acquired the townhome asset. The deal marks Blackmount's first purchase in metro Atlanta. CBRE's Shea Campbell represented the seller. Located in the rapidly evolving area of South Fulton, the townhome community provides walkability and easy access to Interstate 285 and Hartsfield Jackson International Airport. Landmark at Creekside Grand is on the border of an 800,000-square-foot shopping center with several restaurants and major retailers. The multifamily property offers personal patios, two swimming pools, tennis courts, a fitness center, car washes and a conference room, among other amenities.

UNION CITY, GA—Hunt Mortgage Group provided a $3.1 million FHA/HUD loan facility to refinance an assisted living facility located in Union City. Country Gardens is 50-bed assisted living facility with memory care services that was built in 2000. The property consists of a single building with 26,731 square feet contained in two stories. “The borrowers are seasoned investors specializing in senior living facilities that all have HUD experience,” says Gabe Seghi, vice president at Hunt Mortgage Group. “Country Gardens is a well-established and long standing assisted living facility serving the local market.”

ATLANTA—Preferred Apartment Communities acquired West Town Market, an approximately 67,883-square-foot shopping center located in Fort Mill, South Carolina, an affluent submarket within the Charlotte, North Carolina MSA and anchored by a 48,220-square-foot Harris Teeter grocery store. West Town Market is strategically located on the highly-travelled Highway 160 corridor just west of Interstate 77, the main thoroughfare into downtown Charlotte.

BUILDING BLOCKS

ATLANTA—North American Properties broke ground on the reimagined Colony Square. The phased redevelopment aims to transform the iconic mixed-use community in Midtown Atlanta into an urban entertainment and dining destination infused with art, cultural experiences, events and street-level energy. Today, Colony Square has 163,000 square feet of dated retail space and 720,000 square feet of office space. In addition to enhanced restaurant and retail space, the redevelopment will add 172,000 square feet of new office space. Upon completion, Colony Square will encompass more than 40,000 square feet of open community gathering places, 143,000 square feet of entertainment, retail and fitness concepts, chef-driven restaurants, including Main & Main, the 28,000-square-foot experiential food hall, and 892,000 square feet of office space.