Duluth Senior Apartment Complex Trades Hands: The Atlanta Deal Sheet
A Minnesota apartment operator has purchased a suburban senior living complex in Duluth — Georgia, that is.
Dominium paid $27.8M for Sweetwater Terraces, an adult senior independent living facility off Sweetwater Road, from Los Angeles-based Sweetwater Community Associates, according to a tax record filed with the Georgia Superior Court Clerks' Cooperative Authority database.
Sweetwater paid $17.6M for the 165-unit apartment complex in 2019, according to Gwinnett County records.
Dominium plans to infuse $9.9M into Sweetwater Terraces to upgrade the roof, siding, clubhouse, unit interiors and amenities, the Atlanta Business Chronicle reported. The firm will resyndicate the complex at the end of 2026 to help rents stay affordable for the long term, according to the ABC.
SALES
Basis Industrial, along with One Investment Management, shelled out $89.5M to Middour Investments for a 25-building industrial portfolio in Metro Atlanta, TruStone Realty Advisors announced in a press release. The shallow-bay portfolio includes 677K SF and involves 18 properties in Stone Mountain, including on West Park Place Boulevard, and another seven properties in Tucker.
TruStone principal Jake Zebede and Vice President Kevin Gonzalez brokered the transaction.
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CenterPoint Properties purchased Clayton Technology Center, a 266K SF industrial facility in Ellenwood, from its developer, Transwestern Development Co., for an undisclosed sum.
Transwestern previously obtained a $21.8M loan from West Texas National Bank in 2023, according to property records with the Georgia Superior Court Clerks' Cooperative Authority database.
The facility was delivered in 2024.
DEVELOPMENT
Wood Partners has broken ground on Alta Newnan Crossing, a 274-unit apartment complex in Newnan that is slated to deliver in fall 2027. The project will include seven townhouses and 7,700 SF of retail as well as a clubhouse, a fitness room, coworking space and a resort-style pool.
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ASSIGNMENTS
CP Group has been tapped by the owners of 55 Allen Plaza in Downtown Atlanta to lease and manage the 14-story office property perched over the Interstate 75/85 interchange. Owner Phoenicia Real Estate Holdings XI took the keys back on the building from Lone Star Funds last year.
The firm, which owns and is redeveloping Downtown’s The Center — formerly CNN Center — will head property management and leasing oversight, with Cushman & Wakefield’s Zach Wooten, Stephen Clifton and Payton Maxheimer handling the leasing, with special focus on the top four floors that include building signage.
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Singapore-based investment trust Prime US REIT, along with KBS, has tapped CBRE to lease 171 17th St., a 510K SF, 21-story office tower in Atlantic Station in Midtown. CBRE’s Eric Ross, Jessica Doyle and Graham Little will work on the assignment.
