The Krog District Sold To Local Investors: The Atlanta Deal Sheet
An Atlanta firm run by former Jamestown executives has acquired a landmark portfolio along the Atlanta BeltLine Eastside Trail.
26th Street Partners purchased The Krog District, a 180K SF portfolio that includes Krog Street Market, for $210M from Charlotte-based Asana Partners, according to records in the Georgia Superior Court Clerks' Cooperative Authority database.
The properties include Atlanta Stove Works, SPX Alley and the Butler and Gravel buildings, according to the Atlanta Business Chronicle. It has a mix of more than 40 tenants in the Inman Park neighborhood, The Atlanta Journal-Constitution reported.
The sale comes seven years after Asana paid $45M for Krog Street Market and Atlanta Stove Works, according to the AJC. Asana subsequently bought SPX Alley for $19M, according to the publication.
This isn’t 26th Street’s first purchase from Asana Partners. In January, the firm bought both Plaza on Ponce, which is home to Majestic Diner and Plaza Theatre, and Morningside Village for $67.5M.
26th Street Partners is run by CEO Shak Presswala, Chief Investment Officer Andrew Shaw and Chief Operating Officer Noah Peeters, who are Jamestown alums.
SALES
Greenwood Star Holdings purchased the 281-unit Parkside Apartments and the 96-unit Creekside Apartments in Doraville for a total of $47M, according to a press release.
LHNH Parkside Apartments LLC sold Parkside Apartments, and LHNH Creekside sold Creekside Apartments. Both entities are tied to the same New Jersey address, according to records in the Georgia Superior Court Clerks' Cooperative Authority database.
LHNH Creekside purchased the Creekside Apartments in 2019 for $12.3M. Bisnow couldn't locate property records for Parkside Apartments.
Greenwood Star bought both properties through its Greenwood Star Income and Growth Trust fund, according to a press release. Greenwood assumed a 3.6% Fannie Mae loan that is set to mature in August 2029, according to the release.
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Atlanta-based Penler purchased Trace Midtown, a 290-unit apartment tower off Peachtree Street, for $94.3M in August, according to records in the Georgia Superior Court Clerks' Cooperative Authority database. Bisnow previously reported Penler’s acquisition spree in the Southeast, which included Trace, but the price wasn't disclosed at the time.
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GSL Properties picked up the 347-unit Manor Barrett apartment complex in Kennesaw for $106M and the 360-unit Town Laurel Crossing apartments in Buford for $110M.
Both properties were developed and sold by Miami-based Related Group. The sale included a $137M Freddie Mac loan.
FINANCING
Greystar refinanced a three-property multifamily portfolio owned in a joint venture between Myers Apartment Group and Torchlight Investors. The properties include the 290-unit Highlands at Sweetwater Creek off Satellite Boulevard in Duluth and the 200-unit Symphony at Suwanee Creek off Peachtree Industrial Boulevard in Suwanee.
A third apartment complex in Austin was part of the $125.5M floating-rate loan.
JLL’s Gerard Sansosti, Peter Rotchford, Nicco Lupo and Clayton Ross arranged the financing on behalf of the owners.
PERSONNEL
Retail brokerage firm TSCG tapped Kris Murphy as vice president of landlord services in Atlanta. She had been working for Columbia Properties, where she served as director of leasing and totaled more than $75M in transactions during her career.
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Duke Realty alumnus Chris Brown has joined the industrial developer Dermody as senior vice president, tasked with hunting for new investments in the Southeast. Brown, who spent more than 26 years at Duke before joining Constellation Real Estate Partners in 2023, will also assist in leasing and asset management for Dermody.
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Avison Young tapped Jay Johnson as principal and executive managing director of the firm’s healthcare services. A 30-year CRE vet, Johnson will lead Avison Young’s healthcare division and is tasked with growing its market share across the U.S.
Johnson was formerly the national director of healthcare markets for JLL.
DEVELOPMENT
Thompson Thrift is developing Autry at Tulip Grove, a 300-unit apartment community in Buford. The 10-acre property at 1325 Laurel Crossing Parkway will include two fitness centers, a heated swimming pool, an outdoor pavilion with a gas fireplace, a golf simulator, a pet spa and a 24-hour social club, according to a press release.
The developer expects to open units to residents in January.
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Underwood Ammo plans to develop a $41M manufacturing facility in Effingham County, a development that could create 120 new jobs, Georgia Gov. Brian Kemp announced this week.
The rifle- and handgun-ammunition maker will break ground next year and develop the facility at the Savannah Portside International Park. The size of the facility wasn't disclosed.
Georgia Department of Economic Development Project Manager Connor Hall led incentive negotiations on behalf of the state.
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Atlanta-based RangeWater Real Estate broke ground this month on The Greene, a 300-unit apartment complex in Downtown Lawrenceville. The 21-acre site at 1032 Buford Drive is just north of the Gwinnett County Jail complex.
RangeWater is partnering with Brazil-based Kinea on the project. The Greene will offer one-, two- and three-bedroom units and will feature a resort-style pool, biergarten, coworking spaces and a dog park, among other amenities, according to a press release.
The Greene is scheduled to open in the first quarter of 2027.
LEASES
Global pediatric healthcare system Shriners Children’s has leased 159K SF at Science Square Labs in Midtown, the Atlanta Business Chronicle reported. The nonprofit healthcare operator will manage its research institute and occupy several floors of the facility, according to a press release.
Shriners will bring more than 470 jobs to the facility.
The deal brings the 368K SF lab and office tower to 83% leased. The facility, developed in 2024 by Trammell Crow Co., is part of Georgia Tech’s Science Square innovation district. At full build-out, the district can house 1.6M SF of lab and office space.
CBRE’s Eric Ross, Jessica Doyle and Graham Little brokered the deal for Trammell Crow.
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Burger purveyor Shake Shack leased 3K SF with CIM Group for space at Centennial Yards, the $5B, 50-acre mixed-use development rising on the former Gulch site in Downtown Atlanta. The eatery is expected to open in 2026 at Centennial Yards' 470K SF entertainment district.
CORRECTION, OCT. 9, 5:30 P.M. ET: A previous version of this story contained an incomplete sales price for the Krog District. The story has been updated.
