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                                                                                                                                            May 4, 2010

The Inside Scoop on the People & Places that Shape Atlanta Real Estate
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Dewberry Avoids Courthouse Steps
One Peachtree Pointe
Dewberry Capital gains breathing room on One Peachtree Pointe refinancing.
 
Dewberry Capital's lender on One Peachtree Pointe has delayed foreclosure, giving the developer a little more time to renegotiate financial terms on the Midtown office building.
 
Last month, Wells Fargo filed notice in the Fulton County Daily Report that One Peachtree Pointe would be sold in a foreclosure auction today. Wells Fargo's attorney, William Rothschild at Sutherland Asbill & Brennan, confirms that the notice will be re-advertised for auction next month. While Dewberry Capital CFO Steve Cesinger could not comment specifically, he did note that discussions with the lender are ongoing and that his company is working with the lender to resolve the issue.
 
According to the foreclosure notice and Databank, the 1545 Peachtree St. building is secured by a $27 million loan originated by First Union in 2001, and the loan matures in May 2011. Centerline Servicing Inc. is One Peachtree Pointe's special servicer. One of the property's long-time anchors, Seyfarth Shaw, recently relocated to Daniel Corp.'s and Selig Enterprises' 1075 Peachtree at the 12th and Midtown mixed-use development.
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Grove Street Partners: Step by Step
Grove Street's Gateway Office
Grove Street's Class-A office development near Hartsfield Jackson International Airport.

Grove Street Partners and its Colliers leasing team keep making the right steps toward successful lease up of the first office building at Gateway Center, Grove Street's mixed-use development a stone's throw from Hartsfield Jackson International Airport.
 
In the past couple of weeks, Gateway has closed leases with Melrose Resources and Universal Blanchers for approximately 10,000 square feet at the new 128,396-square-foot, LEED Silver building.
 
"Since the first of the year, leasing activity has picked up, and we're working on deals for about one-third of the building," Grove Street President Kevin Kern said.

Colliers International's Chandler Spratlin, Scott O'Halloran and Lee Evans lease the building. CB Richard Ellis' Bill Kilborn represented Melrose Resources, and CB's Charles Beard represented Universal Blanchers.
 
Despite recession, Grove Street's timing has been pretty good so far. Gateway's first hotel, a Spring Hill Suites opened in December as a brutal winter and a host of flight cancellations hit, resulting in a booming first couple of months for lodging that's a two-minute ATL Sky Train ride from the terminal. A second hotel, a LEED Gold Marriott, opens this summer at Gateway, which is also adjacent to the Georgia International Convention Center.
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ARCO Happy Hour @ Hal's
ARCo Happy Hour 4.29.10
Chris Tomasulo of Jones Lang LaSalle, Shane Neel of ARCO, Rick Schultze of ARCO, Joe Matthews of ARCO, Mark Mummert of ARCO, Melinda Parrish of Morrison Hershfield, John Barker Jr. of Red Rock Developments, Jay Padgett of Jones Lang LaSalle, Brian Brumfield of Eberly & Associates and Paul Roeser of Jones Lang LaSalle.
 
When it comes to people watching, frosty beverages and juicy steaks, few can rival Hal's in Buckhead. ARCO Design/Build hosted industrial agency and tenant rep brokers Thursday evening at the Old Ivy institution, a great place to start winding down the work week.

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AYREP Happy Hour @ Uncle Julio's
AYREP Happy Hour 4.29.10
Manisha Verma of Reznick Group and Mahini Patel of Matthew A. Dickason P.C.

A Mexican restaurant beside a heart clinic seems like counter-intuitive genius, so maybe that's why the Association of Young Real Estate Professionals (AYREP) chose Uncle Julio's Perimeter location for its Thursday night happy hour, though the AYREP crew is much too young and vibrant to be concerned about things like triglycerides and HCL counts.
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Wrong Randy, Rooster: In last Thursday's piece on Eastdil Secured's marketing of The Campanile, we incorrectly identified one of the executives leading the effort. Managing Director Randy Evans is part of an Eastdil Secured team marketing the Midtown trophy office property.

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Rooster U
Final exams are coming up, and so is the final opportunity to interview with the Rooster for a summer internship.  We're still looking for a couple of superstars to compliment our team in the coming months.  If you are interested in commercial real estate, media, networking, writing, photography and/or web and graphic design, we'd love to hear from you.  Please send you resume (along with why you think you're the perfect fit for our coop!) to careers@roostermedia.com for consideration. 
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