Like many malls across the US, the Northlake Mall in the Atlanta suburb of Tucker has seen better days. Now owned by ATR Corinth Partners, the mall is in the middle of a revitalization effort. Trammell Crow Residential is pitching nearly 500 apartment units on 11 acres near the mall’s food court. The Tucker City Council has yet to vote on the project.
Northlake Mall opened in 1971. It was once a thriving retail center, home to 100 tenants spread across 1 million square feet, the largest mall in Atlanta at the time. The Atlanta Business Chronicle says ATR bought the aging center in 2016 and has since tried to make a go of it.
A number of mall owners have opted to build apartments to increase traffic at the mall. Approximately 1,800 residential units will be built as part of Lulah Hills, the project replacing North DeKalb Mall. Up to 3,800 units could rise at the mostly defunct Gwinnett Place Mall.
Marcus & Millichap completed the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.85 million, or $414,583 per unit. Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap exclusively represented the seller, a private family investor. Azzi,...
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JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC. “Lenders are looking closely at how a multifamily property performs today and at the owner’s...
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RioCan is shifting $235M in residential development assets toward commercial uses, a move disclosed in its third-quarter results that raises questions about plans for an approved 80-storey condominium tower on Toronto’s Mink Mile. The tower at 83–95A Bloor St. W., planned with Parallax, received zoning approval in December 2024. But RioCan’s latest financial statements identify...
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