Category: Uncategorized

E-Commerce Startup Takes Aim At Amazon With Purchase Of UPS Subsidiary

Logistics company Stord is beefing up its e-commerce footprint in a bid to compete with Amazon, buying a UPS subsidiary it says enhances its partnership with the shipping giant.

​  Logistics company Stord is beefing up its e-commerce footprint in a bid to compete with Amazon, buying a UPS subsidiary it says enhances its partnership with the shipping giant. Read MoreBisnow News Feed

Logistics company Stord is beefing up its e-commerce footprint in a bid to compete with Amazon, buying a UPS subsidiary it says enhances its partnership with the shipping giant.

Elie Schwartz Sentenced To 7 Years For Defrauding CrowdStreet Investors

Nightingale Properties CEO Elie Schwartz has been sentenced to 87 months in prison after orchestrating what prosecutors called the biggest fraud in real estate crowdfunding history.
U.S. District Judge Steven Grimberg handed down the sentence in Atlanta, also ordering three years of supervised release. Schwartz had pleaded guilty in February to one count of wire fraud after raising $63M from investors on the CrowdStreet platform in 2022, then diverting roughly $54M to personal luxuries — including a Miami condo, art, payroll at other properties and high-end watches.

​  Nightingale Properties CEO Elie Schwartz has been sentenced to 87 months in prison after orchestrating what prosecutors called the biggest fraud in real estate crowdfunding history.
U.S. District Judge Steven Grimberg handed down the sentence in Atlanta,… Read MoreBisnow News Feed

Nightingale Properties CEO Elie Schwartz has been sentenced to 87 months in prison after orchestrating what prosecutors called the biggest fraud in real estate crowdfunding history.
U.S. District Judge Steven Grimberg handed down the sentence in Atlanta,…

‘It’s Flat-Out Fraud’: Victims Slam Elie Schwartz’s Probation Bid After $63M CrowdStreet Scam

Dr. Padma Sripada doesn’t buy the story that the person who took $75K from her is a changed man.
The 56-year-old primary care physician from Albany, New York, is one of more than 800 victims defrauded by Nightingale Properties CEO Elchonon “Elie” Schwartz, who is set to be sentenced for his crime Monday afternoon in an Atlanta courthouse. 
Prosecutors recommended that a judge sentence him to roughly seven years in prison, saying he has been cooperative after admitting to embezzling $63M raised from crowdfunding investors and meant for two commercial real estate deals, instead spending most of it on watches, art and…

​  Dr. Padma Sripada doesn’t buy the story that the person who took $75K from her is a changed man.
The 56-year-old primary care physician from Albany, New York, is one of more than 800 victims defrauded by Nightingale Properties CEO Elchonon “Elie”… Read MoreBisnow News Feed

Dr. Padma Sripada doesn’t buy the story that the person who took $75K from her is a changed man.
The 56-year-old primary care physician from Albany, New York, is one of more than 800 victims defrauded by Nightingale Properties CEO Elchonon “Elie”…

This Week’s Atlanta Deal Sheet: High Street Lands 2025’s Biggest Lease So Far

A West Coast human resources provider is leasing 150K SF at GID’s High Street project in Dunwoody. 

​  A West Coast human resources provider is leasing 150K SF at GID’s High Street project in Dunwoody.  Read MoreBisnow News Feed

A West Coast human resources provider is leasing 150K SF at GID’s High Street project in Dunwoody. 

Disgraced Nightingale CEO Elie Schwartz Begs For Leniency After $63M CrowdStreet Fraud

The disgraced CEO of Nightingale Properties says he “learned a valuable lesson” about how he shouldn’t be trusted with other people’s money after admitting to a $63M fraud scheme. 
Elchonon “Elie” Schwartz is hoping to avoid jail time after pleading guilty to one count of wire fraud in February, which carries a maximum 20-year sentence. Federal prosecutors are seeking a prison term less than half that length.
Schwartz raised $63M via CrowdStreet in 2022 to fund the planned acquisition of the Atlanta Financial Center office complex and a recapitalization of a Miami Beach office building he already owned. He never closed on…

​  The disgraced CEO of Nightingale Properties says he “learned a valuable lesson” about how he shouldn’t be trusted with other people’s money after admitting to a $63M fraud scheme. 
Elchonon “Elie” Schwartz is hoping to avoid jail time after pleading… Read MoreBisnow News Feed

The disgraced CEO of Nightingale Properties says he “learned a valuable lesson” about how he shouldn’t be trusted with other people’s money after admitting to a $63M fraud scheme. 
Elchonon “Elie” Schwartz is hoping to avoid jail time after pleading…

Developers Surrender CrowdStreet-Funded Buckhead Hotel To Lender

Atlanta developers Loudermilk Cos. and Regent Partners broke ground on the 201-room Thompson Buckhead hotel in March 2020, raising millions from internet investors through crowdfunding platform CrowdStreet.
Despite somehow opening on schedule and under budget in December 2021, and after capital calls to investors and a cash infusion from Hyatt Hotels Corp., the project never turned a profit. Now it is in the hands of its lender, leaving its investors high and dry.

​  Atlanta developers Loudermilk Cos. and Regent Partners broke ground on the 201-room Thompson Buckhead hotel in March 2020, raising millions from internet investors through crowdfunding platform CrowdStreet.
Despite somehow opening on schedule and under… Read MoreBisnow News Feed

Atlanta developers Loudermilk Cos. and Regent Partners broke ground on the 201-room Thompson Buckhead hotel in March 2020, raising millions from internet investors through crowdfunding platform CrowdStreet.
Despite somehow opening on schedule and under…

Lender Forecloses On Piedmont Center At Auction For $200M

On a cloudless Tuesday morning, The Ardent Cos. lost the sprawling wooded office park it spent years — and hundreds of millions of dollars — assembling to foreclosure.

​  On a cloudless Tuesday morning, The Ardent Cos. lost the sprawling wooded office park it spent years — and hundreds of millions of dollars — assembling to foreclosure. Read MoreBisnow News Feed

On a cloudless Tuesday morning, The Ardent Cos. lost the sprawling wooded office park it spent years — and hundreds of millions of dollars — assembling to foreclosure.

Equity Residential Continues Atlanta Buying Spree With $535M Purchase

The most active investor in the Atlanta multifamily market has reached a deal to spend another half-billion dollars on apartments in the region.

​  The most active investor in the Atlanta multifamily market has reached a deal to spend another half-billion dollars on apartments in the region. Read MoreBisnow News Feed

The most active investor in the Atlanta multifamily market has reached a deal to spend another half-billion dollars on apartments in the region.

This Week’s Atlanta Deal Sheet: Blackstone Subsidiary Sells Huge Atlanta Industrial Portfolio

A Boston-based private equity firm has purchased a swath of shallow-bay flex industrial properties in Metro Atlanta. 

​  A Boston-based private equity firm has purchased a swath of shallow-bay flex industrial properties in Metro Atlanta.  Read MoreBisnow News Feed

A Boston-based private equity firm has purchased a swath of shallow-bay flex industrial properties in Metro Atlanta. 

Lender Taps CP Group To Take Over Piedmont Center Out Of Foreclosure

The firm leading the redevelopment of CNN Center is now poised to take the driver’s seat in the turnaround of another prominent Atlanta property.

​  The firm leading the redevelopment of CNN Center is now poised to take the driver’s seat in the turnaround of another prominent Atlanta property. Read MoreBisnow News Feed

The firm leading the redevelopment of CNN Center is now poised to take the driver’s seat in the turnaround of another prominent Atlanta property.