Patterson announces the sale of the Brickworks Portfolio, a 194,000 SF retail and office property located at the intersection of Marietta St. and Howell Mill Rd. in the West Midtown neighborhood of Atlanta, Georgia. Patterson marketed the portfolio on behalf of the seller, Midtown West Associates. The portfolio was sold to Charlotte, NC based Asana Partners.
In late 2019, Holder Properties closed on construction financing for 320 West, a 719-bed purpose-built student housing and mixed-use project located in an opportunity zone, directly adjacent to the Auburn University campus. 320 West will sit on Magnolia Avenue, just across from Auburn’s business and engineering school and just steps from downtown Auburn. Patterson assisted in procuring a long-term capital solution to accommodate the Property’s opportunity zone advantages, including a construction-to-perm loan with Aegon.
Three P Partners recently closed equity and debt financing for the construction of the Bellyard Hotel. The Bellyard Hotel sits in the heart of West Midtown at the corner of Howell Mill Rd. and 14th Street, and is within the larger Interlock mixed-use development that will be home to office, retail, and residential uses. Patterson arranged financing with an institutional equity fund and a regional bank.
Portman Holdings recently acquired a 4-acre site in the heart of Midtown Atlanta. The property sits at the corner of 10th and Spring Streets and is currently home to the H.M. Patterson & Son landmark structure that is an iconic building within the Midtown landscape. Patterson arranged the financing with Bank OZK.
Carter broke ground on a 306-unit multifamily project, the most recent phase in its larger Summerhill mixed-use project. Patterson arranged the construction financing with Kayne Anderson and Citizens Bank.
Origin Investments announced the closing of permanent financing for City Center Buckhead, a 33,400 SF Class-A boutique office asset on Peachtree Road in the heart of Atlanta’s thriving Buckhead Financial District. Patterson Real Estate Advisory Group arranged the financing through Wintrust Bank.
East West Partners will soon break ground on phase 1 of its new mixed-use development, The Waterfront. Phase 1 will consist of 58 high-end condos and town homes along with retail, parks and amenities. Patterson arranged the the full capital stack for the Charleston project.
MidCity Real Estate Partners and Anchor Capital Partners Venture recently acquired a 42,500 sf building at 5616 Peachtree Road in Chamblee, Georgia. Winter Construction will relocate its headquarters to the creative office space from 191 Peachtree Tower in downtown Atlanta. Patterson arranged the construction loan and JV equity financing. First Citizens Bank is providing the construction loan.
Lance Patterson, founder and CEO of Patterson Real Estate Advisory Group, was recently quoted in a Nashville Business Journal article regarding construction lending in Nashville.
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