Real Estate Acquisitions in Georgia

Invitation Homes acquired ResiBuilt Homes for a contract price of $89 million plus up to $7.5 million in earn-outs to bolster its build-to-rent development capabilities in the U.S. Southeast. The Atlanta-based developer (roughly 70 associates) will continue operating under the ResiBuilt brand and brings 23 fee-building contracts, a pipeline of additional opportunities and options on about 1,500 lots; RESICAP (the former parent) will remain independent.

A subsidiary of ITOCHU Corporation has made a meaningful minority investment (19.5% stake) in Wood Partners to provide additional capital and strategic relationships. Wood Partners’ management will retain majority ownership, Fayez Sarofim & Co. will remain a significant minority holder, and Wood’s strategy and operations will remain unchanged; terms were not disclosed.

Hunt Companies acquired a controlling (majority) interest in Carter, an Atlanta-based real estate investment and development firm, strengthening Carter's platform in mixed-use and residential development. The deal positions Carter to pursue larger, Sunbelt-focused projects while longtime CEO and Chairman Bob Peterson retires and Scott Taylor remains as President and CEO.

Jamestown completed the acquisition of the Atlanta-based subsidiary of North American Properties, acquiring the subsidiary's real estate operating platform and making an investment in the platform's portfolio of properties. North American Properties will remain an investor in the portfolio and continue to operate other affiliates while Jamestown expands its presence in Atlanta and Sun Belt markets.

Safe Harbor Marinas has acquired the Savannah Yacht Center from Colonial Group, Inc.; consideration for the transaction was paid in securities of Safe Harbor’s parent company, Sun Communities Inc. The facility — which can accommodate the largest superyachts and includes a 140-meter graving dock, a 3,240-ton shiplift and extensive floating docks — will continue operations and its ~50 employees will join Safe Harbor.

Peachtree Hotel Group acquired the 176-room Canopy by Hilton Atlanta Midtown hotel in Midtown Atlanta. Peachtree Hospitality Management, a division of Peachtree, will operate the 15-story lifestyle property; terms of the transaction were not disclosed.

PotlatchDeltic Corporation completed an all-stock merger to acquire CatchMark Timber Trust, combining two timberland REITs to create a leading integrated timber REIT with approximately 2.2 million acres of timberlands. The transaction is expected to deliver synergies, diversify PotlatchDeltic's geographic footprint into the U.S. South, and be accretive to Cash Available for Distribution.

JPAR – Metro Atlanta acquired Williams & Co International Realty LLC on May 20, 2022, bringing Denise Williams and her team of roughly 65 sales professionals into the JPAR platform. The acquisition expands JPAR – Metro Atlanta's footprint in Georgia and adds experienced local agents to its technology- and service-driven brokerage model.

SGB Development Corp. (the development subsidiary of SG Blocks, Inc.) acquired a 10% non-dilutable equity interest in JDI-Cumberland Inlet, LLC, contributing $3.0 million to develop Cumberland Inlet, a 1,286-acre waterfront mixed-use project in St. Marys, Georgia. The project will deliver roughly 1,280 modular residential, hospitality and vacation units in partnership with Jacoby Development, and SG Blocks estimates approximately $180 million of gross potential manufacturing revenue tied to the build; site work was expected to begin in Q4 2021 with initial modular deliveries in Q3 2022.

An affiliate of Lone Star Funds (LSREF) completed the acquisition of Lodgian, Inc., one of the largest independent U.S. hotel owners and operators, in an all-cash transaction valued at approximately $270 million including assumed debt. Lodgian stockholders received $2.50 per share; Lone Star said the deal will pair Lodgian's hotel portfolio with Lone Star's real estate expertise.