Portman Holdings acquired the Brookside Office Park in Alpharetta, Georgia. The 20-acre site is currently home to two Class-A office buildings totaling approximately 266,000 square feet. Portman plans to retain one 130,000-square-foot building while razing the other to pave the way for an immersive redevelopment. The proposed plan includes 335 multifamily residences, 70 townhomes and 60,000 square feet of retail and restaurant space. Portman’s Head of Retail Development, Dotan Zuckerman, and Retail Leasing Manager Anders Fry are leading the leasing efforts for the project.
Built in the early 1980s, Brookside Office Park has suffered from declining occupancy and underutilization, highlighting an opportunity to redevelop the site.
“With Brookside, we’re taking an older office campus and giving it new life, keeping the best of what’s there while bringing in housing, retail and spaces that make it a real part of the community,” said Portman’s Mike Greene.
Construction is expected to begin in summer 2026, with completion anticipated in 2029.
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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Ponderay Apartments, a 40-unit multifamily property located at 5625 15th Ave NE in Seattle’s University District, sold for $6.26 million, equating to $156,625 per unit. Built in 1963, the property totals 21,540 square feet and consists of 22 one-bedroom units and 18 studio apartments. The studios average 478 square feet, while the one-bedroom units average...
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TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016. TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate...
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