Michael Bull Joins TCN Worldwide Network: The Atlanta Deal Sheet
A storied Georgia real estate firm has become part of a storied national real estate network.
This past week, Bull Realty joined TCN Worldwide, a commercial real estate brokerage alliance in 200 markets, as TCN's new Atlanta presence.
Bull founder Michael Bull told Bisnow that TCN membership comes as his firm expands its work beyond Georgia’s borders. TCN's national footprint also helps Bull recruit new brokers who want to focus on national deals, he said.
Bull launched Bull Realty in 1998 with four assistants. It has since grown to include 35 brokers and 10 staff members.
The move comes after Richard Bowers & Co. dropped out of the alliance this year. Richard Bowers served as president of TCN in 1993-1994.
Bowers staff helped search for a replacement brokerage agency in Metro Atlanta, TCN President H. Ross Ford told Bisnow. The changing of the guard in Atlanta is poignant for Ross given Bowers' long history with TCN.
“It’s a great thing on one hand, and on the other hand, it’s very bittersweet,” Ford said.
An official with Bowers declined to comment.
PERSONNEL
Chris Poston joined Trilogy Investment Co. as senior vice president of asset management, tasked with strategically planning the firm’s investment acquisition and disposition and development activities. Poston previously was executive vice president at Wrightwell.
Over his career, Poston acquired more than $1.5B in single-family rentals and build-to-rent assets and managed more than 15,000 assets nationwide.
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Cortland hired Richard Munger as executive vice president to lead the multifamily operator’s development strategy. The 35-year CRE vet was most recently a partner with Toro Development Co.
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General contractor Thirdline Construction has launched an Atlanta office, naming Frank Fotia as president of the local office. The 20-year construction veteran recently served as vice president at Leapley Construction Group.
Fotia has worked on projects such as the expansion at Krog Street, 309 East Paces and Hotel Row.
DEVELOPMENT
Atlanta-based Mesa Capital Partners broke ground on Sutton Row, a 290-unit apartment complex at the intersection of Bell’s Ferry Road and Hunter Trail Road in Woodstock. The project will include a multistory clubhouse with a coffee bar and market, coworking lounges, a fitness center with yoga and spin studios, and a resort-style pool.
The project, financed by Cadence Bank and Atlantic Union Bank, is expected to deliver in 2027.
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Pennrose broke ground on the first phase of a project with the Roswell Housing Authority to transform the former Pelfrey Pines housing project into a 204-unit affordable housing development. The first phase will involve 102 units renting to households earning 30% to 80% of the area median income.
The city of Roswell, with 92,500 residents, has a median income of more than $124K, according to public data compiled by Data USA.
Pelfrey Pines was razed in March due to disrepair, according to a news release.
Amenities at the redevelopment will include a fitness center, community spaces, a rooftop terrace, laundry facilities and on-site maintenance and management. It’s set to deliver in early 2027.
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Atlanta-based Third & Urban and its capital partner HighBrook Investors completed their buy-up of Corporate Square, a 30-acre office park. Plans call for a teardown of the office park to develop a $605M mixed-use district called Northbend.
The first phase of the project will include 10K SF of retail, 390 apartment units, 23 rental townhouses, 119 for-sale townhomes, 140 corporate housing units and an acre of public plaza. Third & Urban expects to break ground in summer 2026.
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The Development Authority of Fulton County voted 5-2 to approve a resolution supporting a $223.7M bond to help finance the $756M first phase of the proposed Forge Atlanta mixed-use project in Downtown Atlanta, The Atlanta Journal-Constitution reported.
The bond would be provided to Forge Atlanta Asset Management, an entity majority-owned by Webstar Technology Group, and would include a $10M, 10-year property tax break for the project along Whitehall Street in Castleberry Hill, Bisnow first reported.
The board signaled its support of the project, but the Tuesday vote was for an inducement, not the final bond issuance. The bond, if approved, would cover a 300-room hotel, meeting space and a 60,500 SF retail and entertainment space as part of the project’s first phase. It wouldn't cover more than $500M of planned luxury condos.
FINANCING
BEB Credit, an affiliate of BEB Capital, provided a $2.7M acquisition loan to an LLC for the purchase of 6275 Highway 85, a 47K SF small-bay industrial portfolio in Riverdale. According to Clayton County records, the buyer is an LLC tied to Florida-based Decker Capital, which paid $3.5M in September.
BEB Credit Vice President Sean Silverbrook arranged the financing.
CORRECTION, NOV. 4, 12:15 P.M. ET: A previous version of this story misidentified the owners of Krog Street, 309 East Paces and Hotel Row. Frank Fotia also worked on those projects independently, not while with Thirdline. The story has been updated.
