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  #8201  
Old Posted May 14, 2018, 2:24 PM
skyscraperpage17 skyscraperpage17 is offline
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It's not Amazon, but still substantial news...

Atlanta's State Bank to merge with Houston's Cadence in $1.4B deal

https://www.bizjournals.com/atlanta/...s-cadence.html

Quote:
Consolidation in Atlanta's banking industry continues with another big merger announced Sunday.

Atlanta-based State Bank Financial Corp. (Nasdaq: STBZ) and Houston's Cadence Bancorporation (NYSE: CADE) said May 13 they are merging in a $1.4 billion deal, creating a combined organization with $16 billion in assets, $12 billion in loans, $13 billion in deposits and approximately 100 branches serving Texas, Georgia, Florida, Alabama, Tennessee and Mississippi.


The merger is the latest big deal involving Georgia banks. In April, Alabama's National Bank of Commerce said it will acquire Marietta-based First Landmark Bank. On March 28, Mississippi's Renasant Corp. (Nasdaq: RNST) announced a merger with Atlanta-based The Brand Banking Co. in a $453 million deal. And in January, Moultrie, Ga.-based Ameris Bancorp (Nasdaq: ABCB) announced its acquisition of Hamilton State Bank in Hoschton, Ga., in a $406 million deal.

State Bank is Georgia's 11th largest bank and metro Atlanta's No. 17 bank based on deposits, with seven metro branches, according to 2017 data from the Federal Deposit Insurance Corp.

After closing, legacy Cadence and State Bank shareholders will collectively own approximately 65 percent and 35 percent of the combined company, respectively.

“From this incredible combination of talents and resources will emerge a truly exceptional bank that will be a formidable competitor in the dynamic markets we serve," said State Bank Chairman Joe Evans in a statement.

Cadence Bank CEO Sam Tortorici will relocate to Atlanta. Cadence Bank’s corporate headquarters will also move to Atlanta from Birmingham, Ala. Cadence Bancorporation will remain headquartered in Houston.

Three State Bank directors will join the board of Cadence and of Cadence Bank. State Bank's Evans will become vice chairman of Cadence and Tom Wiley, vice chairman of State Bank, will serve as a director of Cadence and chairman of Cadence Bank.

"When we went public a year ago, we said we wanted to be active with M&A," said Paul B. Murphy Jr., chairman and CEO of Cadence, in a statement. "We said we would be selective and that we were looking for a gem. We found a gem with State Bank. I believe this is going to be an outstanding combination."
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  #8202  
Old Posted May 14, 2018, 5:02 PM
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  #8203  
Old Posted May 14, 2018, 5:31 PM
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Something is definitely in play for this site. First, they announce a massive project and a couple of months later increase the size of the project 30% and now they have an equity partner. Stay tuned...

Chicago Hedge Fund Backs New City's BeltLine Plans

http://product.costar.com/home/news/shared/190334


A powerful Chicago hedge fund is the financial power behind New City Properties' plans to create a landmark mixed-use development at the former Georgia Power operations center along the Atlanta BeltLine.

Andy Bluhm's Delaware Street Capital is listed as the owner of Ralph McGill Angier Land LLC, which now owns the Georgia Power site at 760 Ralph McGill Blvd. Its partner, New City Properties of Atlanta, has been promoting plans for the 10-acre site along the BeltLine's most-popular section, the Eastside Trail. The plans center on a dense mixed-use development comprising office, residential, hotel and retail spaces.

The identification of New City's partner comes from Georgia Secretary of State and Atlanta Planning Department records. The Delaware Street affiliate just filed an application to rezone the property from industrial to mixed-residential and commercial to allow for a major mixed-use project. The owners also filed for a special use permit to allow a hotel as part of the development.

That Bluhm, one of three heirs to patriarch Neil Bluhm's $2.6 billion real estate empire, is investing in a development along the BeltLine is a testament to the level of confidence among major players looking to place money in Atlanta real estate. Neil Bluhm made his money via JMB Realty and Walton Street Capital, and also from a collection of three casinos.

Andy Bluhm took control of Delaware Street Capital when he bought out his partner, David Markus, in 2004. In a story covering the buyout, trade publication Institutional Investor described Andy Bluhm as a "real estate scion" in "Chicago's wealthy Bluhm family."

The Georgia Power operations site, one of the largest remaining developable tracts along the Eastside Trail, became available a year ago. That's when Georgia Power hired JLL to market it.

In a prescient point of view, JLL Atlanta's Mark Lindenbaum said the eventual buyer likely would create something major at the site. "The fundamentals of the property suggest a dense, mixed-use project given its Atlanta BeltLine adjacency, Historic Fourth Ward Park frontage, multiple surface street connections and potential future light rail station," Lindenbaum said on JLL Atlanta's blog.

The New City partnership closed on the land last fall, paying about $34 million.

CoStar News sent messages and left voicemails for executives at New City and Delaware Street but had not received replies by press time.

The Atlanta Zoning Review Board is scheduled to consider the rezoning and special use permit requests at its May 10 meeting at City Hall Council Chambers.
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  #8204  
Old Posted May 14, 2018, 5:35 PM
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Almost done on the North Terminal.

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  #8205  
Old Posted May 14, 2018, 5:52 PM
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Almost done on the North Terminal.
Can't wait to see what it looks like with the ETFE film put on it. You can also see the exterior refinishes on some of the concourses.
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  #8206  
Old Posted May 14, 2018, 5:53 PM
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29-unit condo project planned on Beltline in O4W

https://www.bizjournals.com/atlanta/...ne-in-o4w.html
Quote:
Washington, D.C.-based developer Capital City Real Estate is entering the Atlanta market with a boutique condominium project along the Beltline.

Airline, named for the street on which it will be located, will have 29 units ranging from 640 square feet to 1,400 square feet. They will be range in price from $300,000 to at least $600,000.

The developer plans to break ground within the next few weeks, and it is targeting a summer 2019 completion.

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  #8207  
Old Posted May 14, 2018, 6:46 PM
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Coda Unique Place To Innovate




Coda Collaborative Core


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  #8208  
Old Posted May 15, 2018, 9:40 PM
robertjhajek robertjhajek is offline
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Fences are up at midtown domino’s and 1105 W Peachtree.

Last edited by robertjhajek; May 15, 2018 at 10:03 PM.
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  #8209  
Old Posted May 16, 2018, 1:45 AM
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Originally Posted by robertjhajek View Post
Fences are up at midtown domino’s and 1105 W Peachtree.
Exciting times!

Is the 1105 W Peachtree fence new? Thought it's been up for about a month now but I could be mistaken...
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  #8210  
Old Posted May 16, 2018, 1:49 AM
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How long will the demolition of Domino's take before they start actual construction on The Mark?
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  #8211  
Old Posted May 16, 2018, 12:08 PM
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The Mark fencing has been up almost a month and 1105 fencing has been up almost 3 months. Just FYI.

1105 has a LD permit ready to issue for almost a week, just awaiting payment.

The Mark has a LD permit almost ready to issue, should be ready to issue this week.
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  #8212  
Old Posted May 16, 2018, 9:14 PM
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This is going to real dense once The Mark is finished


https://twitter.com/GeorgiaPics/stat...10154453090304
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  #8213  
Old Posted May 16, 2018, 9:56 PM
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  #8214  
Old Posted May 16, 2018, 10:10 PM
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Originally Posted by sbrptree View Post
Feels bad man. I wonder what happened to their Bank of the Ozarks funding?
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  #8215  
Old Posted May 16, 2018, 10:16 PM
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Originally Posted by Pemgin View Post
Feels bad man. I wonder what happened to their Bank of the Ozarks funding?
Don't know...but now we get to look at one of the last remaining (ugly) surface lots along Peachtree in Midtown rather than a tattered and weathered construction fence. Odd since Integral just "won" their lawsuit with the City / AHA.
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  #8216  
Old Posted May 16, 2018, 10:26 PM
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Originally Posted by sbrptree View Post
Don't know...but now we get to look at one of the last remaining (ugly) surface lots along Peachtree in Midtown rather than a tattered and weathered construction fence. Odd since Integral just "won" their lawsuit with the City / AHA.
Not to mention they bought the land. I am still not ready to admit defeat.
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  #8217  
Old Posted May 16, 2018, 11:52 PM
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150-Unit "Pratt Stacks" Townhome Project in Grant Park Along Future Beltline

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  #8218  
Old Posted May 17, 2018, 2:21 AM
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Look at this as a chance for a new proposal on a new design. Fresh start.
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  #8219  
Old Posted May 17, 2018, 3:56 AM
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There was a machine taking core samples at the southern end of the Ga State/Turner Field parking lot along Hank Aaron and Capital Ave this afternoon.
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  #8220  
Old Posted May 17, 2018, 12:52 PM
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Heard a rumor this an automotive HQ. Therefore it is either: PSA, BMW or VW. This would be a major win for Cobb County and the Battery @ Braves Field.

Report: Advanced manufacturing company could bring hundreds of jobs to Cobb County, Ga.

https://webcache.googleusercontent.c...nt=firefox-b-1

Quote:
By Jessica Saunders – Managing Editor, Atlanta Business Chronicle
May 16, 2018, 6:41am EDT

An advanced manufacturing company could bring more than 850 jobs to Cobb County at a site near SunTrust Park.

The Marietta Daily Journal reports that the unnamed company is eyeing a site owned by the Atlanta Braves on Circle 75 Parkway near the Braves' new stadium. A group representing the company went before the Development Authority of Cobb County May 15 to request up to $264 million in bonds for a research and development facility and a 290,000-square-foot office building to rent, according to the report.

The effort is dubbed "Project Dashboard." It could create 863 jobs, according to a Georgia Tech analysis.
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