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Real Estate Bisnow
January 10, 2012 
Cobalt Adds 600k

This week’s Commercial Real Estate Show focuses on bank and lender strategies. Benefit from timely advice on best practices, problem loans and maximizing recoveries. Click here.

What's another 600k SF between friends? Cobalt Capital continues to beef up its 7M SF Atlanta industrial holdings, buying Colony Capital's flex industrial portfolio.
cbre chris riley cobalt capital woodlands hamilton mill colony capital
The REIT III purchase includes four buildings at Woodlands at Riverside in Austell and the 131k SF 4305 Hamilton Mill Rd warehouse in Buford. The portfolio is more than 90% leased. Colony Capital sold the properties for an undisclosed sum. CBRE’s Chris Riley (celebrating again with this deal just weeks after spending his 50th with us), Frank Fallon, and Brian Budnick brokered the sale to the Dallas-based investor.
PM Realty (Mansell-3)

rgre ryan goldstein 4800 ashford dunwoody colonial bank

It’s been two years since we had a proper sit-down with RGRE’s Ryan Goldstein, who'd then just flown the Ackerman & Co coop and forged his own path. Since then, Ryan’s shop has grown to five brokers and new office space at 4800 Ashford Dunwoody Rd, the former Colonial Bank office building that he now counts among the properties in his landlord rep business. They handle more than 1M SF in space throughout metro Atlanta, and the firm aims to increase that to 2M SF by year’s end. (Much cooler than our New Year's resolution.) Ryan sees an influx of new owners into the market, especially among Class-B and C properties.

aaron karasik jared leidner adam hubschman ryan goldstein rgre 4800 ashford dunwoody fdic sales global commerce bank
Ryan (center) flanked by Aaron Karasik, Jared Leidner, and Adam Hubschman. (It's a green organization: they conserve fabric by avoiding neckties of any sort.) Among its deals this past year: helping the FDIC sell seven properties left over from the defunct Global Commerce Bank portfolio, including a vacant retail strip center at 4717 Covington Hwy (sold to local investors); 1853 Terrell Mill Rd; and 1174 Forest Pkwy. “I think we’re going to do more leasing this year than FDIC dispositions,” Aaron tells us.
rgre aaron karasik honeymoon thailand mike ponticelli michael farber chiang mai bar bisnow
Aaron just returned from his honeymoon to Thailand. While visiting Chiang Mai, he and his wife dropped by a “bar” (it was more like someone on his bicycle who'd set up a streetside pub) when he noticed two other ex-pats talking to a couple of girls. He heard one of the guys talk about their company, a “media conglomerate” that "covers commercial real estate and puts on shows.” “Do you guys work for Bisnow?” Aaron asked the two amazed men, who turned out to be our own Mike Ponticelli and Michael Farber. Did that encounter help give the two street cred with the two young ladies at the bar? Michael says, “Actually, I think it did. I think they thought we started some mega company.”

franklin street real estate services jake reid clermont hotel lounge fairway capital philip welker ethan orley ponce de leon
We caught Franklin Street Real Estate Services’ Jake Reid on top of the world yesterday. Or more precisely, on top of the former Clermont Hotel. Jake helped Fairway Capital sell the famous landmark on Ponce De Leon to two developers, Philip Welker and Ethan Orley. The duo plan to turn it into a boutique hotel. The price was undisclosed, and we couldn’t reach the buyers for comment about the fate of the even-more famous Clermont Lounge during the revitalization of the hotel. We’ll keep you posted.

duncan kristen gibbs inner circle advisors jones lang lasalle
Duncan Gibbs is tapping his inner circle for his next CRE career move. We learned from an email announcement that the former Jones Lang Lasalle top broker (here with his wife Kristen), who resigned last year, has begun his own firm called Inner Circle Advisors. This ends weeks of speculation on where Duncan would land.

Upcoming Bisnow Events!
Thursday, Jan. 31, 7am-10am. Bisnow's Atlanta Construction and Development Summit. Hear the experts break down the various neighborhoods poised for growth and discuss what it takes to get a new project off the ground. Register here.
Bisnow dating tip: Just bring along printouts of our newsletter to impress people at bars. At least in Thailand. Contact Jarred@Bisnow.com for your news coverage needs.
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