NEWS & NOTABLES

ATLANTA—Matthew Kraus joined Transwestern as regional strategic manager. Based in Atlanta, Kraus will collaborate with Southeast presidentBruce Ford, managing directors, and service teams to design, implement, and execute the firm's overall business goals throughout the Southeast. Kraus will focus on growing the firm's presence by identifying industry and business trends that impact long-term initiatives, financial strategies, budgeting and long-range planning. Kraus joins Transwestern from Duff & Phelps where he was a senior associate specializing in commercial real estate valuation. Previously, he was a landlord representation associate for H&R Retail in Baltimore.

NASHVILLE—Walker & Dunlop hired Telly Fathaly as a managing director of Walker & Dunlop Investment Sales. Fathaly will be initiating the company's investment sales presence in Nashville. Over the past four years, Fathaly has been involved in over $2 billion of multifamily acquisitions, recapitalizations, and new developments, predominately in Tennessee, Georgia, and the Carolinas.

DEAL TRACKER

ATLANTA—HFF arranged a $110 million financing of a portfolio comprising six grocery-anchored retail properties totaling 876,153 square feet in Georgia, Florida and Tennessee. HFF represented Branch Retail Partners and its affiliate Branch Properties to place the $110 million, seven-year, fixed-rate loan with one of HFF's life insurance company correspondent lenders. The portfolio consists of six grocery-anchored properties located throughout the southeastern United States and anchored by Publix, Kroger and Whole Foods.

MCDONOUGH, GA—PNK Group, the leading developer of industrial facilities in Russia, has selected McDonough for its second development in the United States. The speculative industrial development, known as Southern Gateway at Lambert Farms, will eventually total more than 3 million square feet. Pat Murphy, Ray Stache, Lisa Pittman and Tara Healy of Cushman & Wakefieldhave been retained as the leasing team for Southern Gateway at Lambert Farms.

ATLANTA—Hunter Hotel Advisors represented Sun Vista Hotels in the sale of the Comfort Inn Disney Lake Buena Vista. The seven-story, 200-room hotel was sold to AD1 Global for a $20.5 million. The hotel was sold with adjacent land that is entitled to build an additional 150 rooms.

MEMPHIS—Sonnenblick-Eichner Company arranged $135,780,000 of non-recourse, first mortgage financing for 11 of Memphis-based Cooper Hotels' properties totaling 2,037 rooms. The hotels include full service, select service, extended stay and limited service hotels located in Florida, Michigan, and Tennessee, all branded by Hilton Worldwide. The five-year floating rate loan was underwritten to a 70% loan-to-value and pays on an interest-only basis for the entire term.

MEMPHIS—Coastal Ridge Real Estate, in partnership with H. Katz Capital, acquired The Preserve at Forest Creek, a 414-unit, class A apartment community located a 9230 Thornbury Boulevard from LivCor, a wholly owned subsidiary of Blackstone, for approximately $56.6 million. This marks the firm's first acquisition in Tennessee and its 17th acquisition in partnership with H. Katz Capital. Built in 2008, The Preserve at Forest Creek offers 108 one-bedroom/one-bathroom units, 246 two-bedroom/two-bathroom units and 60 three-bedroom/two bathroom units with rents ranging from $929 to $1,518.

PORTERDALE, GA—NAI Brannen Goddard brokered the sale of Porterdale Mill, a 194,853-square-foot planned mixed-use development located at 1000 & 2000 Main Street in Porterdale, Newton County. NAI Brannen Goddard represented the seller in the 194,853-square-foot transaction. The property was purchased by TriBridge Residential for $16,299,900, or $103.49 per square foot. The Porterdale Mill is an adaptive new use of the Textile Mill and Cotton Warehouse facilities, which originally opened in 1899. The historic mill village overlooks the Yellow River and has 154 loft-style apartments, restaurants, outdoor recreation and retail spaces. The city of Porterdale is located 35 miles east of Atlanta between Conyers and Covington in Newton County. NAI Brannen Goddard vice president Eric Smith and senior associate Swan Nicolson led the sales team in this transaction.

ATLANTA—Preferred Apartment Communities acquired a 172-unit class A multifamily community in the Atlanta constructed in 2016 called Reserve at Summit Crossing. Daniel M. DuPree, the firm's vice chairman and CIO, for PAC, says, :”The acquisition of Reserve at Summit Crossing came through a real estate loan investment that PAC made to partially construct the development over two years ago and once again demonstrates the success our real estate loan investment program, which we expect to continue to be a solid contributor to the dynamic growth of our Company.”

BUILDING BLOCKS

NEW ORLEANS—Select Comfort Corp. announced a new technical support contact center in the Elmwood area of Jefferson Parish. Select Comfort's new support center occupies 28,000 square feet at an office building in the Elmwood business corridor near New Orleans, located at 1333 South Clearview Parkway. At the new contact center, employees are providing sales and support services for customers of the company's Sleep Number beds and products. The project will create 225 new direct jobs with an average starting salary of $30,000 per year, plus benefits.

ATLANTA—This week in the Southeast saw an active capital market as well as some musical chairs. Meanwhile Preferred Apartment Communities continues its acquisition spree.

BY THE NUMBERS

Atlanta's office rents have expanded by 6.5% year-over-year, which is ranked among the top 10 US office markets for rental rate growth. (Source: PMRG)

Atlanta's office market fundamentals have remained strong with 474,957 square feet of direct net absorption recorded during the third quarter. (Source: PMRG)

NEWS & NOTABLES

ATLANTA—Matthew Kraus joined Transwestern as regional strategic manager. Based in Atlanta, Kraus will collaborate with Southeast presidentBruce Ford, managing directors, and service teams to design, implement, and execute the firm's overall business goals throughout the Southeast. Kraus will focus on growing the firm's presence by identifying industry and business trends that impact long-term initiatives, financial strategies, budgeting and long-range planning. Kraus joins Transwestern from Duff & Phelps where he was a senior associate specializing in commercial real estate valuation. Previously, he was a landlord representation associate for H&R Retail in Baltimore.

NASHVILLE—Walker & Dunlop hired Telly Fathaly as a managing director of Walker & Dunlop Investment Sales. Fathaly will be initiating the company's investment sales presence in Nashville. Over the past four years, Fathaly has been involved in over $2 billion of multifamily acquisitions, recapitalizations, and new developments, predominately in Tennessee, Georgia, and the Carolinas.

DEAL TRACKER

ATLANTA—HFF arranged a $110 million financing of a portfolio comprising six grocery-anchored retail properties totaling 876,153 square feet in Georgia, Florida and Tennessee. HFF represented Branch Retail Partners and its affiliate Branch Properties to place the $110 million, seven-year, fixed-rate loan with one of HFF's life insurance company correspondent lenders. The portfolio consists of six grocery-anchored properties located throughout the southeastern United States and anchored by Publix, Kroger and Whole Foods.

MCDONOUGH, GA—PNK Group, the leading developer of industrial facilities in Russia, has selected McDonough for its second development in the United States. The speculative industrial development, known as Southern Gateway at Lambert Farms, will eventually total more than 3 million square feet. Pat Murphy, Ray Stache, Lisa Pittman and Tara Healy of Cushman & Wakefieldhave been retained as the leasing team for Southern Gateway at Lambert Farms.

ATLANTA—Hunter Hotel Advisors represented Sun Vista Hotels in the sale of the Comfort Inn Disney Lake Buena Vista. The seven-story, 200-room hotel was sold to AD1 Global for a $20.5 million. The hotel was sold with adjacent land that is entitled to build an additional 150 rooms.

MEMPHIS—Sonnenblick-Eichner Company arranged $135,780,000 of non-recourse, first mortgage financing for 11 of Memphis-based Cooper Hotels' properties totaling 2,037 rooms. The hotels include full service, select service, extended stay and limited service hotels located in Florida, Michigan, and Tennessee, all branded by Hilton Worldwide. The five-year floating rate loan was underwritten to a 70% loan-to-value and pays on an interest-only basis for the entire term.

MEMPHIS—Coastal Ridge Real Estate, in partnership with H. Katz Capital, acquired The Preserve at Forest Creek, a 414-unit, class A apartment community located a 9230 Thornbury Boulevard from LivCor, a wholly owned subsidiary of Blackstone, for approximately $56.6 million. This marks the firm's first acquisition in Tennessee and its 17th acquisition in partnership with H. Katz Capital. Built in 2008, The Preserve at Forest Creek offers 108 one-bedroom/one-bathroom units, 246 two-bedroom/two-bathroom units and 60 three-bedroom/two bathroom units with rents ranging from $929 to $1,518.

PORTERDALE, GA—NAI Brannen Goddard brokered the sale of Porterdale Mill, a 194,853-square-foot planned mixed-use development located at 1000 & 2000 Main Street in Porterdale, Newton County. NAI Brannen Goddard represented the seller in the 194,853-square-foot transaction. The property was purchased by TriBridge Residential for $16,299,900, or $103.49 per square foot. The Porterdale Mill is an adaptive new use of the Textile Mill and Cotton Warehouse facilities, which originally opened in 1899. The historic mill village overlooks the Yellow River and has 154 loft-style apartments, restaurants, outdoor recreation and retail spaces. The city of Porterdale is located 35 miles east of Atlanta between Conyers and Covington in Newton County. NAI Brannen Goddard vice president Eric Smith and senior associate Swan Nicolson led the sales team in this transaction.

ATLANTA—Preferred Apartment Communities acquired a 172-unit class A multifamily community in the Atlanta constructed in 2016 called Reserve at Summit Crossing. Daniel M. DuPree, the firm's vice chairman and CIO, for PAC, says, :”The acquisition of Reserve at Summit Crossing came through a real estate loan investment that PAC made to partially construct the development over two years ago and once again demonstrates the success our real estate loan investment program, which we expect to continue to be a solid contributor to the dynamic growth of our Company.”

BUILDING BLOCKS

NEW ORLEANS—Select Comfort Corp. announced a new technical support contact center in the Elmwood area of Jefferson Parish. Select Comfort's new support center occupies 28,000 square feet at an office building in the Elmwood business corridor near New Orleans, located at 1333 South Clearview Parkway. At the new contact center, employees are providing sales and support services for customers of the company's Sleep Number beds and products. The project will create 225 new direct jobs with an average starting salary of $30,000 per year, plus benefits.