News
THE DEAL SHEET
June 7, 2011
| Sales | |
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| Kennesaw State University students are about to get another place to live. Carter's Rob Adamson just helped sell six acres on Big Shanty Road across from KSU's new sports complex and stadium for a two-building, 217-unit student housing facility that will be open and ready by the fall of 2012. Sources say the buyer is Birmingham-based Capstone Cos. The project will include 20k SF of retail space, with 8,000 SF already preleased to McCray's Tavern and Blue Moon Pizza. Rob and Carte's Jack Arnold will continue to help with leasing and development management. | |
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| Cocke Finklestein just purchased the 182-unit Meadow Crossing Apartments in Conyers for an $3.7M from 1190 Millcrest Walk Holdings LLC. | |
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| AREA Property Partners in a JV with ECI Group purchased Spring Lake at White Oak Apartments for $33M. CBRE's Kevin Geigner, Paul Berry, and Malcolm McComb brokered the sale. The 561-unit complex in Newnan is 87% occupied and will be renamed The Columns at White Oak. | |
| Development | |
| The Home Depot broke ground last week on its ?Little Apron Academy," a 37k SF child development center off of Paces Ferry Road. Niles Bolton Associates did the architecture and landscape design. | |
| Finance | |
| Jones Lang LaSalle closed $220.6M in multifamily loans from March to April, including a $37M loan for a 340-unit apartment in Atlanta. The 13 loans were secured through Freddie Mac and were arranged by JLL's Faron Thompson and John Bray. | |
| People | |
| The Georgia CCIM Chapter has awarded CCIM designations to six CRE professionals: Focus Brands' Jocelyn Blain, The Simpson Co's Michael Felton, Sugar Oak Holdings' Corey Ferguson, Hagen Realty Group's Kim Hugh Hagan, WC Bradley Co's Doug Jefcoat, RE/MAX Alliance' s Young Ja Kim, and Novus Realty Advisors'Jonathan Sharpe. | |
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| George Lipscomb has joined PM Realty Group as its SVP and operations director for the company's Eastern division, and will oversee all operations from Boston to South Florida. The Tulane U-grad most recently was the COO of Fifth Street Management Co. | |
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| Federal Realty Investment Trust's CEO and president Donald Wood has been appointed to the Board of Directors of Post Properties, and will initially serve on the strategic planning and investment committee. | |
| Events | |
| The Institute of Real Estate Management will be learning insights about Georgia's economy and real estate conditions from State Rep.Mike Jacobs during its June 15th even at the Ansley Golf Club in Atlanta. The all-day event also includes seminars on bidding and budget for property management. Call 770-590-9995 for more info. | |
| Accolades | |
| So far the Colony Bandits and the PMRG Indies are leading their respective divisions (Sweetwater School, Wheat and Sweetwater 420) undefeated as we approach the third week of this year's CRE softball league play. Last Wednesday, CBRE tromped on the Richard Bowers team, the Colony Bandits topped MajEllis, and Carter smacked NAI Brannen Goddard. Play continues tonight at the Pace Academy ball fiend off of Defoors Ferry Road with Ackerman & Co facing off against CBRE, Colony Bandits playing NAI Brannen Goddard and MajEllis challenging Cushman & Wakefield. | |
