Atlanta

The deal was reported by Bethesda, MD-based commercial real estate finance firm Walker & Dunlop, which represented California-based Praelium Commercial Real Estate and South Street Partners of Charlotte, NC, in refinancing the property as part of a restructuring and recapitalization of the ownership entity.

The deal increases Blue Magma's Atlanta area portfolio to 3,000 value-add units purchased by the firm in less than four years at a cost in excess of $133 million.

Momentum Real Estate has thus far acquired 4,100 multifamily units valued at more than $550 million.

Florida Valuation Group's three principals Nick Chop, MAI, R/W-AC; Courtland Eyrick, MAI, AI-GRS and Justin S. Markley, MAI, CCIM, along with the firm's team of appraisers are all joining CBRE in Jacksonville. Every member of the Florida Valuation Group's team has extensive commercial and litigation appraisal experience.

The site is currently planned for the development of approximately 560,000 square feet of office space and is located along the pedestrian bridge to MARTA's Buckhead station adjacent to a number of dining, retail, high-rise residential and hotels properties.

A total of 2,600 homes are approved, with current plans calling for 1,300 single-family homes to be built in the gated Cresswind community.

Construction is scheduled to begin in April on the community to be built near the intersection of Rosery Road and Clearwater Largo Road.

With the passing of one partner, Rubenstein determined that since cap rates for sales are attractive, and warehouse and logistical center property is in demand, it was a good time to sell, says Mandelbaum Salsburg attorney Owen Hughes.