LEXINGTON, KY—Greystone's sales advisory group has teamed up with Lexington, Kentucky-based Stidham Commercial Partners, who will focus on providing a full range of multifamily advisory and lending services to clients for both market-rate and affordable housing properties in conjunction with the Greystone Real Estate Advisors' platform. Prior to joining forces with Greystone, the team at Stidham was a leading investment sales advisory and consultancy group serving the greater Lexington region. Led by Jeff Stidham, the group built a reputation for predevelopment consulting and brokerage services, transaction structuring, strategic site and asset identification, as well as acquisition and disposition services.

DEAL TRACKER

BIRMINGHAM, AL—Brennan Investment Group and a client of Arch Street Capital Advisors acquired an 11-building industrial portfolio located in eight states and totaling 2,497,982 square feet. The industrial portfolio is geographically dispersed throughout several top markets in the United States including Chicago, Milwaukee, Pittsburgh, Birmingham, Grand Rapids, Jacksonville, and Minneapolis. Since 2011, through multiple ventures, Brennan and Arch Street has acquired over $1 billion of single tenant, net leased, industrial assets.

ATLANTA—NAI Brannen Goddard closed the sale of Cumberland Overlook, a 105,464-square-foot office building located at 2700 Cumberland Parkway Southeast in the Cumberland/Galleria submarket. NAI marketed the property on behalf of the seller, HSSW Properties, and procured the buyer, ICOT North Delaware. The property sold for $9.8 million, or $93 per square foot. The NAI sales team representing the seller was led by senior vice president Casey Keitchen. NAI retains leasing and property management on the property.

CARTERSVILLE, GA—NAI Brannen Goddard brokered the sale of Stratton Warehouse, a 168,640-square-foot industrial warehouse located in Bartow County, GA. NAI marketed the property on behalf of the seller, B & B Realty, and procured the buyer, MJC, Inc. The property sold for $4.05 million, or $24 per square foot. The NAI sales team was led by senior vice president Mark Sheffield and vice president David Richardson.

MCDONOUGH, GA—Oak Residential Partners acquired two Atlanta area multifamily properties totaling 492 units in two separate transactions. In the first transaction, Oak acquired the 252-unit Averly Apartments located in Jonesboro, GA. The second transaction was the acquisition of the 240-unit Echelon Park Apartments in McDonough, GA. The properties represent Oak's fourth and fifth local acquisitions since entering the Atlanta market in 2015.

BUILDING BLOCKS

ATLANTA—Hanover Company is set to unveil its latest luxury residential showpiece, Hanover Buckhead Village. Located next to the historic Buckhead Theatre at the southwest corner of Roswell Road & Irby Avenue Northwest, the towering 20-story high-rise apartment building will offer 353 luxury apartments.

ATLANTA—Early this week in the Southeast saw a brokerage acquisition and some strategic deals in Atlanta. Meanwhile, more luxury multifamily is rising.

BY THE NUMBERS

Metrowide, Atlanta's office assets changed hands with average first-year returns in the low- to mid-7% area. Cap rates in the mid-5 to mid-6% range could be found in various pockets, particularly within a one-mile radius of Peachtree Road from Midtown through Buckhead and into Central Perimeter. (Source: Marcus & Millichap)

NEWS & NOTABLES

LEXINGTON, KY—Greystone's sales advisory group has teamed up with Lexington, Kentucky-based Stidham Commercial Partners, who will focus on providing a full range of multifamily advisory and lending services to clients for both market-rate and affordable housing properties in conjunction with the Greystone Real Estate Advisors' platform. Prior to joining forces with Greystone, the team at Stidham was a leading investment sales advisory and consultancy group serving the greater Lexington region. Led by Jeff Stidham, the group built a reputation for predevelopment consulting and brokerage services, transaction structuring, strategic site and asset identification, as well as acquisition and disposition services.

DEAL TRACKER

BIRMINGHAM, AL—Brennan Investment Group and a client of Arch Street Capital Advisors acquired an 11-building industrial portfolio located in eight states and totaling 2,497,982 square feet. The industrial portfolio is geographically dispersed throughout several top markets in the United States including Chicago, Milwaukee, Pittsburgh, Birmingham, Grand Rapids, Jacksonville, and Minneapolis. Since 2011, through multiple ventures, Brennan and Arch Street has acquired over $1 billion of single tenant, net leased, industrial assets.

ATLANTA—NAI Brannen Goddard closed the sale of Cumberland Overlook, a 105,464-square-foot office building located at 2700 Cumberland Parkway Southeast in the Cumberland/Galleria submarket. NAI marketed the property on behalf of the seller, HSSW Properties, and procured the buyer, ICOT North Delaware. The property sold for $9.8 million, or $93 per square foot. The NAI sales team representing the seller was led by senior vice president Casey Keitchen. NAI retains leasing and property management on the property.

CARTERSVILLE, GA—NAI Brannen Goddard brokered the sale of Stratton Warehouse, a 168,640-square-foot industrial warehouse located in Bartow County, GA. NAI marketed the property on behalf of the seller, B & B Realty, and procured the buyer, MJC, Inc. The property sold for $4.05 million, or $24 per square foot. The NAI sales team was led by senior vice president Mark Sheffield and vice president David Richardson.

MCDONOUGH, GA—Oak Residential Partners acquired two Atlanta area multifamily properties totaling 492 units in two separate transactions. In the first transaction, Oak acquired the 252-unit Averly Apartments located in Jonesboro, GA. The second transaction was the acquisition of the 240-unit Echelon Park Apartments in McDonough, GA. The properties represent Oak's fourth and fifth local acquisitions since entering the Atlanta market in 2015.

BUILDING BLOCKS

ATLANTA—Hanover Company is set to unveil its latest luxury residential showpiece, Hanover Buckhead Village. Located next to the historic Buckhead Theatre at the southwest corner of Roswell Road & Irby Avenue Northwest, the towering 20-story high-rise apartment building will offer 353 luxury apartments.