Uncategorized – Page 99 – CRE 101 – Buy | Sell | Lease

Brazilian Retail Tycoon’s Half-Empty Atlanta Office Building Hits Special Servicing

Brazilian retail mogul Michael Klein’s grip on an Atlanta office building could be loosening after falling into delinquency on the building’s mortgage.

Brazilian retail mogul Michael Klein’s grip on an Atlanta office building could be loosening after falling into delinquency on the building’s mortgage. Read MoreBisnow News Feed

Brazilian retail mogul Michael Klein’s grip on an Atlanta office building could be loosening after falling into delinquency on the building’s mortgage.

03

Feb

Long-Running NC Beach Resort Gets New Look, Name

A Wrightsville Beach hotel that’s been open since 1964 has been given a full makeover and a new name. The Blockade Runner Beach Resorts is now The Trailborn Surf & Sound. The 151-room hotel sits on 3.5 acres with the Banks Channel on one side and the Atlantic Ocean on the other.

The Charlotte Business Journal reports Castle Peak Holdings bought the hotel in 2022 and announced last year that it would undergo an extensive renovation and rebrand as Trailborn Surf & Sound. This is Trailborn’s fourth hotel and first beachfront resort property.

The renovations include easier access to the beach, an updated pool bar and an expanded restaurant. The restaurant, La Duna Paradiso, will feature Italian.

Room prices in May begin at $263 per night early in the month and rise from there.

The post Long-Running NC Beach Resort Gets New Look, Name appeared first on Connect CRE.

A Wrightsville Beach hotel that’s been open since 1964 has been given a full makeover and a new name. The Blockade Runner Beach Resorts is now The Trailborn Surf & Sound. The 151-room hotel sits on 3.5 acres with the Banks Channel on one side and the Atlantic Ocean on the other. The Charlotte Business …
The post Long-Running NC Beach Resort Gets New Look, Name appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

A Wrightsville Beach hotel that’s been open since 1964 has been given a full makeover and a new name. The Blockade Runner Beach Resorts is now The Trailborn Surf & Sound. The 151-room hotel sits on 3.5 acres with the Banks Channel on one side and the Atlantic Ocean on the other. The Charlotte Business …
The post Long-Running NC Beach Resort Gets New Look, Name appeared first on Connect CRE.

03

Feb

PGIM Arranges $82M Atlanta Multifamily Refi

PGIM Real Estate provided a $82 million floating rate loan on behalf of MetLife Investment Management and StreetLights Residential to refinance Mira at Midtown Union, a multifamily property located at 1301 Spring St NW in Atlanta.

The 26-story high-rise property has 355 units and 7,608 square feet of ground-floor retail. It includes a pool, resident lounge, sunset deck with fire pits and grills, pet spa/dog wash station, co-working spaces, and a multi-room fitness center. Mira at Midtown has studios with three bedrooms, that cost between $1,660 and $5,080 a month.

The community is part of a master-planned development called Midtown Union. It features a 612,000-square-foot office tower, the MIra, a 14-story, 230-key Kimpton hotel and 32,000 square feet of retail.

The post PGIM Arranges $82M Atlanta Multifamily Refi appeared first on Connect CRE.

PGIM Real Estate provided a $82 million floating rate loan on behalf of MetLife Investment Management and StreetLights Residential to refinance Mira at Midtown Union, a multifamily property located at 1301 Spring St NW in Atlanta. The 26-story high-rise property has 355 units and 7,608 square feet of ground-floor retail. It includes a pool, resident lounge, …
The post PGIM Arranges $82M Atlanta Multifamily Refi appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News

PGIM Real Estate provided a $82 million floating rate loan on behalf of MetLife Investment Management and StreetLights Residential to refinance Mira at Midtown Union, a multifamily property located at 1301 Spring St NW in Atlanta. The 26-story high-rise property has 355 units and 7,608 square feet of ground-floor retail. It includes a pool, resident lounge, …
The post PGIM Arranges $82M Atlanta Multifamily Refi appeared first on Connect CRE.

03

Feb

In central Buckhead, rare condo tower shows signs of life

Josh Green

Mon, 02/03/2025 – 08:22

Two years after it initially came to light, a project that would bring a rare stack of for-sale condominiums near Buckhead Village is showing signs of life.

Norcross-based Dezhu US, an active intown developer, plans to erect a 17-story condo building with relatively large units at 119 Pharr Road. It would replace a two-story rental community called Pharr Manor Apartments, tucked about a block and ½ west of Restoration Hardware Atlanta.

New filings indicate the condo project will be called “Veridian Buckhead.”

But prior to breaking ground, the development team is planning to convert a small vacant building at 30 Pharr Road—most recently home to Four Fat Cows ice cream shop and bakery—into a sales center for the condo project.

The 2,750-square-foot building would be fronted by an artificial green wall and porch, with five parking spaces in front, plus a display kitchen and bathroom inside, according to plans. It stands less than a block from the proposed condo site on Pharr Road.

The conversion project is scheduled to come before Buckhead’s SPI-9 Development Review Committee during a Wednesday meeting, as brought by a permit expediter.

Conditions today of the 30 Pharr Road building where a Veridian Buckhead sales center is proposed. Smallwood, Reynolds, Stewart, Stewart & Associates; Dezhu US

Proposed sales center facade at 30 Pharr Road. Smallwood, Reynolds, Stewart, Stewart & Associates; Dezhu US

Dezhu US filed paperwork for land disturbance permits with the City of Atlanta to move forward with the condo project in March 2023, but little has changed since. According to those documents, the project would include 61 condos and eight townhouse units.

The luxury project is expected to cost $100 million and span 155,000 square feet overall, according to Atlanta-based Goode Van Slyke Architecture firm, the project’s lead designers.

Veridian condos would range from 1,900-square-foot, two-bedroom units to sprawling three-bedroom options with 3,030 square feet, per the architecture firm.

The Pharr Road condos are shooting for “a design that captures a level of luxury living unsurpassed in the area,” reads Goode Van Slyke’s project description.

The 119 Pharr Road proposal as viewed from the south, with Peachtree Road at right. Dezhu US; designs, Goode Van Slyke Architecture

Dezhu US; designs, Goode Van Slyke Architecture

The building’s parking garage would be topped with an amenity level featuring a pool, spa, dog park, and yoga studio. Other amenities would check most of today’s new multifamily prerequisites for onsite pampering: fitness center, a demo kitchen, lounge, coworking space, and dog spa.

The Pharr Road project would mark Buckhead Village’s largest condo venture since The Charles Buckhead, an 18-story modern-style building with 57 units.

Elsewhere in Atlanta, Dezhu has built the six-story J5 Midtown condos, the Reverb by Hard Rock hotel and neighboring apartments in Castleberry Hill, and most recently the 555 Boulevard project in Old Fourth Ward.

The Pharr Road project’s height would make it an anomaly in the immediate area but not for the blocks east of Peachtree Road overall, where the St. Regis Atlanta and One Buckhead Plaza have stood nearby for years.

A larger apartment building was proposed in 2022 for a site roughly one block closer to Peachtree. But that 20-story building—pitched for a site directly behind Restoration Hardware, where a two-story parking deck stands now—has yet to move forward.

According to ApartmentFinder, the existing low-rise apartments on the Veridian site were built in 1975. The 47-unit complex offers special monthly rates as low as $1,290, per that database.

Demolition permit paperwork filed by developers with the city indicates 10 apartment buildings total would be razed to make way for the condos.

In the gallery above, find more context and imagery, beginning with the proposed Pharr Road sales center.

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This Week’s Atlanta Deal Sheet: Developers Eye Huge Upper Westside Apartment Project

Radco Cos. and Columbia Ventures are seeking to turn a swath of aging industrial properties off Huber Street in the Upper Westside neighborhood into 845 apartment units in two buildings and 20K SF of retail, according to an application filed with the Georgia Department of Community Affairs.

Radco Cos. and Columbia Ventures are seeking to turn a swath of aging industrial properties off Huber Street in the Upper Westside neighborhood into 845 apartment units in two buildings and 20K SF of retail, according to an application filed with the… Read MoreBisnow News Feed

Radco Cos. and Columbia Ventures are seeking to turn a swath of aging industrial properties off Huber Street in the Upper Westside neighborhood into 845 apartment units in two buildings and 20K SF of retail, according to an application filed with the…

03

Feb

$17B Data Center Campus Planned South Of Atlanta

A developer is looking to get the green light to move forward with a data center campus of historic proportions in Coweta County.

A developer is looking to get the green light to move forward with a data center campus of historic proportions in Coweta County. Read MoreBisnow News Feed

A developer is looking to get the green light to move forward with a data center campus of historic proportions in Coweta County.

03

Feb

Menlo Equities Closes On Echo Street West Purchase

Lincoln Property Co. has officially unloaded its newly developed, but still empty, West Midtown office complex to a California investor. But the firm will remain on to try and lease the property as the Atlanta office market starts to shake off its slump.

Lincoln Property Co. has officially unloaded its newly developed, but still empty, West Midtown office complex to a California investor. But the firm will remain on to try and lease the property as the Atlanta office market starts to shake off its… Read MoreBisnow News Feed

Lincoln Property Co. has officially unloaded its newly developed, but still empty, West Midtown office complex to a California investor. But the firm will remain on to try and lease the property as the Atlanta office market starts to shake off its…

03

Feb

Elie Schwartz Agrees Not To Fight Fraud Charge

Elie Schwartz is expected to plead guilty to felony wire fraud early next year.

Elie Schwartz is expected to plead guilty to felony wire fraud early next year. Read MoreBisnow News Feed

Elie Schwartz is expected to plead guilty to felony wire fraud early next year.

03

Feb

The 10 Atlanta CRE News Stories That Defined 2024

From big law firm moves and office buildings selling at steep discounts to developers’ love affair with data centers and a notorious investor getting charged with fraud, there were several big stories that caught the collective attention of Atlanta CRE in 2024.

From big law firm moves and office buildings selling at steep discounts to developers’ love affair with data centers and a notorious investor getting charged with fraud, there were several big stories that caught the collective attention of Atlanta… Read MoreBisnow News Feed

From big law firm moves and office buildings selling at steep discounts to developers’ love affair with data centers and a notorious investor getting charged with fraud, there were several big stories that caught the collective attention of Atlanta…

03

Feb

1.2M SF Suburban Atlanta Office Portfolio Sold In Foreclosure

A huge swath of office space outside of Atlanta owned by a bankrupt Canadian real estate investor has been seized in foreclosure.

A huge swath of office space outside of Atlanta owned by a bankrupt Canadian real estate investor has been seized in foreclosure. Read MoreBisnow News Feed

A huge swath of office space outside of Atlanta owned by a bankrupt Canadian real estate investor has been seized in foreclosure.

03

Feb

Category: Uncategorized