News
THE DEAL SHEET
July 9, 2012
| They had it all. Just like Bogie and Bacall. | ||
 | ||
| We got details of a recent broker trip to Key Largo and are a bit jealous. Americas Capital Partners and CBRE brokers took a group of CRE brokers for a two-day fishing trip with the Key Largo Anglers Club. Here's CBRE's Brad Jancik, Cushman & Wakefield's Sam Hollis, Jones Lang LaSalle's Chris Wagner, Cushman & Wakefield's Ken Ashley, ACP's Jude Williams and Al de Olazarra, CBRE's Bill Kilborn, ACP's Carlton Harden, Raney Cos' Ben Raney, CBRE's David Todd, ACP's Sergio Socolsky, and CBRE's Eric Ross. We're trying to determine what fish tales were told on this trip. | ||
| LEASES | ||
| The US Air Force renewed and expanded by 5,400 SF at Corporate Forum, the office complex in the Cumberland/Galleria submarket owned by Ackerman & Co. Frank Farrell represented the landlord. | ||
*** | ||
| Rocklyn Homes renewed 5,000 SF at Duluth Office Center. Ackerman & Co's Jack Brewster repped the tenant, while Stream Realty Partners' Kyle Luby and Kevin Driver repped the landlord, CNL Financial Group. | ||
*** | ||
| AmWINS (American Wholesale Insurance) just inked a 28k SF deal for the top floor of 3630 Peachtree in Buckhead. Ackerman & Co's Gina DeRaffele repped the tenant while Pope & Land's Jackie Gauthreaux repped the landlord. | ||
| SALES | ||
| The recent sale of Mariposa Loft Apartments has allowed Behringer Harvard to offer a ?special cash distribution? of six cents/share this month for investors of its multifamily REIT I, according to a recent SEC filing. | ||
*** | ||
 | ||
| Marcus & Millichap's John Leonard and John ?Jay? Brigel (from the Tampa office) have been tapped to help owners sell The Residences at Five Points, a 264-unit gated luxury apartment complex in Valdosta. The firm listed the complex for $29.5M, or more than $111k per unit. | ||
*** | ||
| The Marketing Directors' Art Hicks helped sell out Johns Creek Walk, a townhome community off Bell and Abbotts Bridge roads in Johns Creek. The 18 unsold units were returned to Wells Fargo exactly a year ago. Eight of those 18 units were purchased in bulk by Acadia Homes & Neighborhoods, which in turn tapped Art to resell the residences as well. | ||
*** | ||
 | ||
| Transwestern's Kevin Markwordt, Jon Kleinberg, and Mike McGaughy have been tapped to market Bank of America Plaza for sale. No, not that one. This is a 303k SF Class-A tower in Columbia, SC owned by Lincoln Harris, the receiver of the property. At 70% leased (with such tenants as Turner Padgett and Wells Fargo), Kevin calls Bank of America Plaza a value-add opportunity. Call for offers is scheduled for July 25. | ||
| DEVELOPMENT | ||
| Athens-based Landmark Properties has started construction on a $37.6M student housing community near the University of Mississippi in a JV with Education Realty Trust. The 668-bed cottage-style community will be located in Oxford, Miss. | ||
| PEOPLE | ||
 | ||
| Doug Linneman (center) has been tapped as VP of business development for management services with Franklin Street's Atlanta office. Doug joined Franklin Street in 2011 as an area manager. | ||
| MANAGEMENT | ||
| Stream Realty Partners have snagged the leasing and management assignment for 320 West Lanier, a 32k SF office building in Fayetteville owned by Hudson Advisors. Stream's Patricia Snell will handle management while Stream's Nicolai Schwarzkopf will lease the building. | ||
*** | ||
| Cassidy Turley's Glenn Kolker, Sonia Winfield, and Preston Menning have been tapped to lease the iconic Tower Place 100, the 613k SF tower on Peachtree Road in Buckhead. The tower is 82% leased with such tenants as Catlin Specialty Insurance, Group M Worldwide, and Quality Systems. The tower also recently underwent extensive renovations. | ||
| ODDS 'N ENDS | ||
| Boston Capital Tax Credit Fund V is reporting that occupancy at McEver Vineyards, a 220-unit apartment complex in Gainesville, improved last year from 95% to 96%, well above the 2009 lows of 87%, when several food processing plants nearby shuttered. And now, occupancy has hit 98%, it reported to the SEC. ?However,reduced rental rates … have yet to return to previous levels,? the company stated. | ||
