Loudermilk selling off Midtown assets to focus on Buckhead Village
Developer Robin Loudermilk is selling off almost 88,000 square feet of street level retail and parking in Midtown in a $47 million deal with Coro Realty Advisers LLC, according to The Atlanta Business Chronicle. Loudermilk, CEO of longtime Atlanta Developer, the Loudermilk Companies told the newspaper, his focus will turn to Buckhead Village and making it, a true live-work-play environment.”
Starwood Capital Group buys Forestar Group Inc. for $605 million
Atlanta-based Starwood Capital Group is acquiring Forestar Group Inc. of Austin, Texas for $605 million, according to The Atlanta Business Chronicle. Georgia real estate was a significan part of Forestar’s portfolio. The company was invested in 620 residential lots in metro Atlanta and more than 11,000 acres of timberland in the state. The sale was announced April 13. Starwood has not revealed plans for the Georgia assets.
Centennial Olympic Park expansion begins with demolition
The former Metro Atlanta Chamber of Commerce building has fallen to make way for expansion of downtown’s Centennial Olympic Park. Demolition of the structure is just part of the plan to make extensive improvements to the park, according to Curbed Atlanta. The three-story chamber building bordered the western edge of the park and predated it by a decade. Improvements to the park include expansion of the amphitheater, new sidewalks, new entrances and sculptures that celebrate the 1996 Olympics held in Atlanta.
Analyst: Tech will continue to fuel Atlanta real estate investment
Growth in the technology sector will continue to make Atlanta an attractive market for real estate investment, an analyst told National Real Estate Investor this month. Greg MacKinnon, director of research at the Pension Real Estate Association (PREA) said, “We are certainly seeing institutions intending to increase their allocations to real estate. They are also looking to growth markets that are tech-oriented—Nashville, Portland, Atlanta.”