New financing to fuel Songy Partners’ growth
Songy Partners has raised about $25 million in a private placement and isn’t nearly so “limited” anymore in either name or scope. In return for the proceeds, the Atlanta-based real estate investment company has sold a minority interest in the company and has changed its name from Songy Partners Ltd. to Songy Partners LLC… The Griffin Co. has sold both floors of 50 Old Ivy, its 11,600-square-foot boutique office condominium. Located at the intersection of Old Ivy and Habersham roads near Piedmont Road, 50 Old Ivy is the final phase of a redevelopment that included the renovation of two neighboring buildings… Originally Published in the Atlanta Business Chronicle. Read More...
read moreSandy Springs eyes remake of Roswell Road
Just as the city of Atlanta wants to transform its signature Peachtree Street into a Southern version of Chicago’s Magnificent Mile or New York’s Fifth Avenue, the fledgling city of Sandy Springs is trying to make Roswell Road its Peachtree… Kirk Demetrops, senior vice president of longtime Sandy Springs developer The Griffin Co., said Roswell Road would benefit greatly if Sandy Springs could get Fulton to re-establish the tax allocation district that was put in place just before its incorporation, or perhaps create a community improvement district for the corridor… Originally Published in the Atlanta Business Chronicle. Read More...
read moreThe residential plug-in
It’s called The Manhattan, a 27-story condominium tower that developers think foreshadows residential development in the Central Perimeter area in coming years. Southeast Capital Partners Inc. is building the 222-unit high-rise as part of Perimeter Place, the massive mixed-use project by The Sembler Co. across from Perimeter Mall… With two mixed-use projects in the works, The Griffin Co. is bullish on the Central Perimeter. “It’s always been a great office market but underserved residentially compared to everywhere else,” said Senior Vice President Kirk Demetrops. “People want to live close to where they work. Mixed-use is a way to underwrite these projects because you can deliver some parts now and wait on others…” Originally Published in the Atlanta Business Chronicle. Read More...
read moreBroker Roundtable
On Jan. 18, three commercial real estate brokers gathered at Atlanta Business Chronicle to discuss the idea of owning space versus leasing it. The participants were: Ken Ashley, associate director at Cushman & Wakefield Atlanta; Alan Joel, principal at Alan Joel Partners; and Kirk Demetrops, senior vice president at The Griffin Co…. Originally Published in the Atlanta Business Chronicle. Read More Here
read moreOn the trail of a trend…
“New Urbanism,” the development concept for real estate planning and design that combines homes, coffee shops and dental offices within easy walking distance of one another, has sowed its seeds all over metro Atlanta… …Atlanta is a young market when it comes to mixed-use, said Kirk Demetrops, senior vice president of The Griffin Co. The vast majority of Atlanta’s developers only three or four years ago were single-use builders, Demetrops said. Their experience was limited to either retail, commercial office or residential development, but not all three… Originally Published in the Atlanta Business Chronicle. Read More...
read moreAtlantic Station must balance formidable size
While living in Manhattan, 30-year-old Amy Renfrow enjoyed getting along without a car. Soon, the marketing professional, who now works out of a two-bedroom townhouse on 16th Street in Midtown when not mothering her baby, once again will be able to walk to restaurants, the grocery, movie theaters and more at Atlantic Station…. “Even if you don’t live there, it still will be fun to go there and shop,” said Kirk Demetrops, senior vice president of The Griffin Co. Demetrops projected that with more than 1 million more people expected to move here in the next decade and Atlanta’s current commuting times likely to increase, mixed-use probably will begin replacing strip malls… Originally Published in the Atlanta Business Chronicle. Read More...
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