Origin Principal David Scherer and CEO of Patterson Real Estate Advisory Group, Lance Patterson discuss the impact of the current capital markets on private real estate, how they think this year will unfold, and share their outlook on various asset classes including office and multifamily.
Atlantic Capital Properties and Gateway Ventures, with the assistance of its capital advisor Patterson Real Estate Advisory Group, closed construction financing for 111 John Wesley Dobbs, a 742-bed Class A student housing development with 3,000 SF of street-level retail in Atlanta, GA. The Project is situated adjacent to the campus of Georgia State University, within GSU’s designated residential district.
Pope & Land, with the assistance of its capital advisor, Patterson Real Estate Advisory Group, closed financing for Powers Ferry Landing, a ±117,000 SF, two-building office portfolio in Atlanta, GA. The property sits at the Northside Drive exit off I-285 near both Buckhead and Sandy Springs. Patterson arranged financing with First Carolina Bank.
Haven Communities and Wheelock Street Capital recently purchased a 1.9-acre site in the heart of Charlotte’s dynamic South End District. Haven and Wheelock plan to develop Haven South End, a 304-unit luxury multifamily development. The partnership plans to break ground in the summer of 2021. Patterson Real Estate Advisory Group served as capital advisor for this project.
360 Residential, with the assistance of Patterson Real Estate Advisory Group as its capital advisor, closed on the construction financing for 360 Panama Flats, a 320-unit luxury multifamily project located in Panama City Beach, FL. Patterson arranged preferred equity financing with Stockbridge Capital Group. The Property is advantageously located just 1,000 feet from the white sand and emerald water of the world-class Gulf Coast beaches along the Florida Panhandle.
Weaver Capital Partners, the Seng Company and their equity partner, SilverCap Partners, with the assistance of their capital advisor, Patterson Real Estate Advisory Group, closed bridge loan financing for the recapitalization of Seaboard Park, an eight-building, 535,830 square-foot, flex office and warehouse portfolio in Atlanta, GA. The Portfolio spans over 29.2 acres and is centrally located on Seaboard Industrial Boulevard, near the intersection of Collier Road and Chattahoochee Avenue in the heart of Atlanta’s dynamic Upper Westside. Patterson arranged financing with Renasant Bank for the Portfolio.
Albany Road Real Estate Partners, with the assistance of its capital advisor Patterson Real Estate Advisory Group, recently closed on two flex-industrial assets — one in Atlanta and one in Tampa. Patterson arranged debt financing with Delta Community Credit Union to acquire 120 Interstate Northwest in Atlanta, and with Renasant Bank for Center Point Business Park in Tampa. 120 Interstate Northwest is in Northwest Atlanta’s Cumberland Galleria submarket and consists of four single-story flex-industrial assets that total 282,000 SF. Center Point Business Park is a five-building, single-story flex-industrial asset totaling 146,000 SF.
MAB American, with the assistance of its capital advisors Patterson Real Estate Advisory Group and Medalist Capital, closed construction financing with Ameris Bank for Monroe Pavilion, a 224,000 SF Publix-anchored shopping center located in Monroe, GA. The Project is situated between three major roadways (US 78, GA 138, and GA 11), and sits on 85 acres cosisting of 201,000 SF of shopping center space, 23,000 SF of jewel box retail across four pad sites and numerous outparcel sites that front US 78 and Charlotte Rowell Road.
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PATTERSON REAL ESTATE ADVISORY GROUP, LLC
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