Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
Green-Certified Apartments Quadruple in 5 Years, Multifamily Executive
Key Excerpt:
“By year’s end, the apartment industry is projected to have built 59,400 new green-certified apartments in 2016, four times the number built in 2011.”
Atlanta Investor Buys Historic Roswell Road Office Tower, By Jarred Schenke, Bisnow
Key Excerpt:
“Stein Investment Group has purchased Northside Tower, the nine-story, 122k square foot office building that lords over Roswell Road as the tallest structure in that main artery. Stein purchased it for $13M, or some $107/SF, from Maryland-based Alex Brown Realty.”
New shopping Center To Be Developed in Cumming, Atlanta Business Chronicle
Key Excerpt:
“For Peachtree City, Ga.-based Randolph Williamson, it’s a chance to expand its development portfolio deeper into north metro Atlanta. Mark Williamson, president of construction and CFO of Randolph Williamson, said the company believes it’s the time to capitalize on new development opportunities. The property will be constructed in three phases. The first, totaling 23,100 square feet, is scheduled to begin next spring.”
Lenders Expected To Be Cautious Funding Spec Office, Apartments, By Doug Sams, Atlanta Business Chronicle
Key Excerpt:
“The outlook for development opportunities seems rosy enough. Job growth, which fuels demand for space, has remained robust. KC Conway, vice president of credit risk management with SunTrust Banks Inc., sees momentum carrying Georgia’s economy for another six to nine months.”
Debt Funds See Bigger Property Returns After Brexit Vote, By Jack Sidders, Bloomberg
Key Excerpt:
“Record-low interest rates have encouraged investors to seek returns in everything from lotteries to bingo halls as they try to beat gilt yields. ICG-Longbow is targeting annual returns of 10 percent from its new fund, which won’t lend against buildings in the City of London financial district, Wheeler said. The firm had initially planned to raise 750 million pounds and received additional capital from investors after the Brexit vote, Wheeler said.”