The Hawkins represents Atlas’ second construction loan with Santander following
Westerly House in Nashville, TN
ATLANTA, GA - Atlas Real Estate Partners, a multifamily-focused private investment and development firm with offices in New York and Miami, closed on a $41 million construction loan with Santander Bank for The Hawkins, a mixed-use multifamily community in Atlanta, GA.
The Hawkins is a Class A, mid-rise community located at 3300 Burk Dr, Atlanta, GA in the Chamblee neighborhood. The project consists of 192 units across a mix of 1-bedroom, 2-bedroom, and 3-bedroom floorplans with approximately 15,000 square feet of amenity and commercial space featuring a fitness center, co-working space, pet spa and dog park, a double-height community room integrated with an activated pool courtyard, bike room and rooftop sky lounge overlooking DeKalb-Peachtree Airport (PDK), a facility serving private aircrafts. The Hawkins is Atlas’s second of three deals in partnership with the principals of FIDES Development.
The Hawkins was acquired in July 2019 and is fully entitled. The project is set to break ground in Spring 2023. The loan was arranged by Walker & Dunlop’s Michael Diaz, Keith Kurland and Sean Reimer.
“The Hawkins complements our existing Opportunity Zone development platform perfectly,” said Alex Foster, co-founder of Atlas Real Estate Partners. “Chamblee has tripled in growth over the past decade and is poised for even more growth in the coming years due to its neighborhood charm and prime location.”
Click here for renderings of The Hawkins: https://www.dropbox.com/scl/fo/uf5y41stl1kv3g867xd09/h?dl=0&rlkey=o5szv292pvwec17a2sd736qu6
The property is conveniently located two blocks from the Chamblee MARTA Station in a transit-rich, in-town submarket which has broad appeal to young professionals seeking a walkable urban feel with suburban-like supporting retail.
“Chamblee has gone through a major transformation from a sleepy area known for antiques and manufacturing to a vibrant urbanized suburb,” said Noah Weiss, Managing Director and COO of Atlas Real Estate Partners. “This transformation story is one of the hallmarks of Atlas development deals.”
Atlas has a proven track record and fully-integrated development team.
Since its formation in 2009, Atlas has closed over 50 acquisitions and development projects with a total capitalization of ~$1.5 billion spread over 10,000-plus residential units and ~1.5 million square feet of commercial real estate. Before its recent acquisition of The Darby, a 331-unit development located in Charleston, SC, the firm closed three single-asset multifamily Opportunity Zone Funds totaling more than $250 million in capitalization.
In addition to its extensive real estate investment and development portfolio, in late 2022 Atlas announced the launch of its fourth Opportunity Zone fund, a diversified multi-asset vehicle targeting four-to-six multifamily sites in the Southeast. The fund will capitalize an active pipeline of multifamily development projects located in high growth cities throughout the Southeast and other select markets and recently closed on a site in Charleston, SC.
