City of College Park, GA Selects Ackerman & Co.to Broker Sale of 320-Acre Site for ‘Airport City College Park’ Project near Hartsfield-Jackson Atlanta International Airport

Steve Langford

ATLANTA, GA – Ackerman & Co. announced the City of College Park has selected the firm, as exclusive broker, to sell land within a 320-acre site that will become Airport City College Park.

The planned  $1-billion, mixed-use development will leverage the site’s proximity to Hartsfield-Jackson Atlanta International Airport to offer a destination location featuring a mix of Class A office and medical office space, specialty retail, entertainment venues, high-end hotels, and multifamily and single-family residential.

Steve Langford, senior vice president of Investment Sales at Ackerman & Co., will market the land parcels for sale on behalf of the City of College Park. AAC Group Inc. has been selected as the master developer and Wakefield Beasley will serve as the project architect.

Artie Jones III

“We’re proud to be selected by the City of College Park as the broker for this transformative project and are excited to team with the City to help it create a wide-ranging mix of development that will benefit the College Park community and the Atlanta region as a whole, a mission shared by Aerotropolis Atlanta,” said Langford.

The site is located in the heart of Aerotroplis Atlanta, a development zone surrounding the Airport. Aerotropolis Atlanta has already attracted a significant amount of high-profile development, including the new headquarters for Porsche Cars North America.

“The appeal of this project will be far-reaching and should attract end-users locally, nationally and internationally. In addition to corporate headquarters, I am targeting technology, hospitality and medical firms as well as specialty retail and chef-driven restaurants for the development,” added Langford.

Located off Camp Creek Parkway and Main Street in the city of College Park, the project will showcase a number of “smart city” components, including autonomous electric shuttle vehicles, as well as excellent walkability via a network of walking trails and a pedestrian bridge that will connect the project to the Georgia International Convention Center.

Only one mile from the Airport, the project is directly across the street from the College Park MARTA rail station and in close proximity to I-75/I-85 and I-285.

Georgia International Convention Center

Langford will work closely with both AAC Group and City of College Park representatives, including Artie Jones III, director of Economic Development for the City of College Park, in marketing the land for sale.

“As a company that was instrumental in the creation of the Airport South Community Improvement District, Ackerman has demonstrated a strong commitment to boosting economic development in College Park and the Southside of Atlanta, said Jones.

"We look forward to working with Steve Langford and the rest of the Airport City project team to realize the vision for this site.

Now in the master-plan phase, Airport City College Park will feature 4 million square feet of office and medical office, up to 1,000 hotel rooms, and 600,000 square feet of retail and entertainment.

Residential options (up to 1,000 units) will include luxury and affordable apartments, townhomes, senior living residences and single-family homes ranging from $200,000 to more than $1 million.

Rendering of Planned Aerotropolis Atlanta, GA

The 320-acre site is near a number of projects either completed or currently under way within Aerotropolis Atlanta, including the Porsche Experience Center, the Solis Two Porsche Drive Hotel, the Chick-fil-A headquarters & tour, Delta Air Lines headquarters, Delta Flight Museum, a BMW training facility and a new multi-purpose arena that will be home to the Atlanta Hawks G-League Team.

Infrastructure development is slated to begin no later than the end of 2018. For more information about available land in Airport City College Park, contact Steve Langford at slangford@ackermanco.net

 

 For more information, please contact:

Steve Webb (swebb@ACKERMANCO.NET)

 www.ackermanco.com

BKM Capital Partners Acquires $10 Million, 122,000+SF Multi-Tenant Industrial Business Park in East Sacramento, CA Submarket

 

Brian Malliet

          SACRAMENTO, CA – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has acquired Expo Centre, a 122,253 square-foot multi-tenant industrial business park near Cal Expo and Downtown Sacramento for $10.1 million.

The seven-building industrial park was acquired off-market and is located in one of the tightest industrial metro markets in all of Sacramento, according to Brian Malliet, CEO and Co-Founder of BKM Capital Partners.

            “This acquisition represents our entry into the Sacramento market, and is located in an A+ infill location in an extremely dynamic industrial submarket,” says Malliet.

Brett Turner

         “The East Sacramento market currently has an industrial occupancy of approximately 96-percent. This is demonstrative of the significant demand throughout the region, which will allow us to strategically position the asset for long-term growth and garner interest from quality tenants over the next several years.”

            Located less than four miles from downtown Sacramento, Expo Centre is currently 81-percent leased with in-place rental rates at approximately 18-percent below market value.

            “Through our integrated property management approach, we will be able to share resources with our newly acquired property in Fremont, and quickly lease remaining vacant space, bring rents up to market value, and improve operational inefficiencies,” explains Malliet.

Multi-Tenant Industrial Park
 near San Francisco, CA

      “This will quickly increase NOI and cash flow for the asset. The diverse portfolio of 32 different tenants across a variety of industries currently at the property also provides limited tenant rollover exposure.”

            BKM Capital Partners plans to implement a series of capital improvements to reposition the property as the market leader in terms of functionality and aesthetic, according to BKM’s Director of Acquisitions, Brett Turner.

“We always look for properties where there are opportunities for significant value creation,” says Turner. “This is a quality asset in a prime location, but is lacking in terms of needed cosmetic improvements and modernization. We plan to update the property with new paint, landscaping, and signage, among other improvements.”

Turner explains, “These capital upgrades will enhance the overall value of the asset, as well as maximize returns to investors and rent appreciation over time.”

The property is located alongside the SR-160 at 1761-1791 Tribute Road in Sacramento, California.  BKM Capital Partners acquired the property from a private syndication managed by Sperry Equities. Palmer Capital represented the seller in the transaction.

           
 For more information, please contact:

Jordan Kruk /Lexi Astfalk

Brower Group

(949) 955-7940

JKruk@brower-group.com

www.bkmcapitalpartners.com

George Smith Partners Secures $45 Million in Financing for Iconic San Francisco Hotel

Proper Hotel, Mid-Market Neighborhood, San Francisco, CA

Malcolm Davies

 SAN FRANCISCO, CA -- George Smith Partners, one of the nation’s leading commercial real estate capital markets advisors, has successfully arranged $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel, located in the heart of the city’s vibrant Mid-Market neighborhood.

 The financing was arranged by George Smith Partners’ Principal and Managing Director, Malcolm Davies, along with Evan Kinne, Zack Streit, Rachael Lewis, Alexander Rossinsky and Minjoo Kim.

“This was a unique opportunity to finance a highly-anticipated luxury lifestyle hotel that underwent a significant repositioning while maintaining its historic character,” said Davies. “The new loan will replace an existing construction loan and mezzanine facility, providing cost savings, term and flexibility for the sponsor.”

Rachael Lewis

George Smith Partners worked closely with the sponsor, Los Angeles-based The Kor Group, a lifestyle real estate investment firm with more than $3 billion in assets, to arrange the financing for the historic flatiron building at the triangle of McAllister, Market and Seventh Street.

Minjoo Kim

“The capital markets responded well to the opportunity, based on the property’s elevated positioning within the San Francisco hospitality market and the strength of the sponsorship group,” said Davies, who cited The Kor Group’s proven track record of developing and operating hotels as an important factor that Davies’ team communicated to its lender network. 

Zack Streit

“Our firm specializes in capital advisory services for entrepreneurial firms, and our ability to work hand-in-hand with the Kor team to help deliver what they were looking for is a testament to their long term vision for the project and the Proper brand itself.”

According to Davies, the new bridge loan enables the Sponsor to focus on its continued operational success and further establishes the property as the premiere luxury lifestyle hotel in San Francisco.

San Francisco Proper Hotel is located in the heart of the city, within walking distance of major landmarks, cultural institutions, architectural marvels, cutting-edge tech companies, and more. 

Kelly Wearstler

Designed by international tastemaker Kelly Wearstler, the hotel offers iconic interiors inspired by the city’s pre-modernist European influence, providing a luxurious yet residential feel.

Evan Kinne

The hotel is host to two award-winning food and beverage concepts, including Villon, an all-day dining destination, and Charmaine’s, a rooftop bar boasting 360 degree views of the city, and offers a multitude of first-class amenities, including Bellino linens, Aesop bath and body products, Vifa speakers, Aireloom mattresses, and 24/7 room service. 

The Proper Hotel is located at 1100 Market Street in San Francisco, California.

Celebrating 25 years in business, George Smith Partners is a leading national provider of capital market advisory services to the commercial real estate industry.

Alexander Rossinsky

The firm specializes in arranging financing for commercial and multifamily properties, including acquisition, construction, bridge and permanent loans, as well as mezzanine loans, highly leveraged participating loans and joint venture equity.  The company has arranged more than $44 billion in financing since its inception.

 Additional information about George Smith Partners is available at www.GSPartners.com.

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 For more information on this release, please contact:

Kat Castagnoli / Jenn Quader

Brower Group

(949) 955-7940

kcastagnoli@brower-group.com