Selig Refinances Midtown's Epicurean: The Atlanta Deal Sheet
Fresh from refinancing its tony Midtown office tower, Selig Enterprises has secured another loan for its luxury hotel that is part of the 1105 West Peachtree mixed-use campus.
Great Southern Bank provided a $23.7M loan to Selig for the Epicurean Atlanta hotel at 1117 W. Peachtree St., according to records in the Georgia Superior Court Clerks' Cooperative Authority database.
JLL announced on Wednesday that it arranged the financing on behalf of Selig.
Great Southern set the loan’s maturity date for December 2028, although Selig has an option to extend it through 2030, according to the records. JLL didn’t disclose details of the loan.
The 16-story, 178-room hotel, which is part of the Marriott Autograph Collection, is home to the Reverence restaurant and The Office Bar in the lobby. The Epicurean is part of Selig’s 1105 West Peachtree mixed-use campus that includes the 650K SF 1105 West Peachtree office tower and 40 West 12th luxury condominium building.
Earlier this month, Selig announced it had obtained a $245M floating-rate Bank of America CMBS loan for the 31-story 1105 West Peachtree tower that matures in December of 2027, although Selig has options to extend this loan through 2030.
JLL’s Matt Casey, Matthew Schoenfeldt, Jeff Bucaro and Streeter Simmons helped arrange the financing.
SALES
Atlanta-based Stonemont Financial Group purchased a portfolio of five U.S. industrial service facilities. The portfolio includes a 14K SF facility at 7773 W. Strickland St. in Douglasville and a two-building, 33K SF facility off Fleetwood Drive in Atlanta. The latter is named Atlanta Fleetwood.
Stonemont bought the Atlanta West Strickland facility, including nearly 6 acres, from 7773 Strickland St. LLC for $5.8M, according to Superior Court Clerk database documents.
Sales documents for the Atlanta Fleetwood sale couldn’t be obtained at press time, but the previous owner is an LLC tied to New York-based Catalyst Investment Partners. The entity paid $1.6M for the facilities and nearly 5 acres in 2023, according to DeKalb County property records.
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Essential Growth Properties acquired Mulberry Village, a 75K SF Publix-anchored shopping center at 831 Auburn Road in Mulberry, for $13.4M from Watkins Real Estate Group.
JLL’s Jim Hamilton, Brad Buchanan, Andrew Michols and Charlie Merrigan brokered the sale.
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Publix Super Markets purchased a portfolio of six shopping centers, including Stillwood Pavilion, a 75K SF shopping center at 1111 Lower Fayetteville Road in Newnan, from Orlando, Florida-based developer Maury L. Carter & Associates for an undisclosed sum, the Atlanta Business Chronicle reported.
Publix paid $130.4M for the portfolio. The other five shopping centers are in Florida. Publix anchors all the centers, according to the ABC.
LEASES
Aftermarket automotive parts supplier Factory Motor Parts is set to occupy 171K SF at Aero Logistics at 285, a distribution center at 3611 Jonesboro Road, according to a commercial alteration application filed with the city of Atlanta.
The permit indicates the property alteration would be for a new warehouse and office tenant in the facility’s existing white-box space.
The document was filed by the Development Authority of Fulton County.
DEVELOPMENT
Alpharetta-based Parkland Communities purchased nearly 9 acres from the Snellville Community Church to develop a 140-unit build-to-rent townhome community off U.S. Highway 78, Urbanize Atlanta reported.
The project, dubbed Bethany Park, is also set to include a 14K SF commercial building.
PERSONNEL
Phil Carson has joined Portman Holdings as vice president of residential development, tasked with overseeing new multifamily development activity. Most recently, Carson was managing director at Mill Creek Residential Trust.
Carson will now oversee the development of Meadow Glen Village, a 332-unit apartment complex in Fairburn by Portman. Over his career, Carson led the development of more than 3,000 apartment units valued at more than $1B.
ASSIGNMENTS
Mainsail Lodging & Development has been tapped by Toro Development Co. to be its development partner and operator for the planned 150-room hotel at Toro’s Medley mixed-use project in Johns Creek.
The yet-to-be-named hotel is set to open in 2028 and will be “flagged under a nationally recognized, upper-upscale lifestyle soft brand,” Toro announced in a press release. Mainsail also operates the Epicurean Atlanta and the Trilith Guesthouse.
