ATLANTA, GA – Wood Partners, a national leader in multifamily real estate development and acquisition, announced the grand opening of its newest luxury residential community – Alta Dairies – in Atlanta, Georgia.

The new, residential community is located at 777 Memorial Drive SE, in the heart of the East Atlanta submarket. It is a centerpiece of the ongoing Atlanta Dairies redevelopment and the revitalization of Memorial Drive, a major east-west connection in East Atlanta. With immediate access to the Atlanta BeltLine when the extension to Memorial Drive opens this summer, residents will be able to benefit from the redevelopment and revitalization of this thoroughfare.

“The East Atlanta submarket has seen a phenomenal transformation over the last decade,” said Bennett Sands, Managing Director for Wood Partners. “We believed that our Atlanta Portfolio would benefit greatly by having a major investment in this submarket, and we are excited to be launching that effort with the grand opening of Alta Dairies.”

In addition to its central location, Alta Dairies is strategically positioned in the midst of a competitive employment region. With notable career opportunities at Coca-Cola, Delta Airlines, Emory University, Morehouse College, UPS, AT&T, Grady Hospital and Children’s Healthcare of Atlanta, among the broad number of Fortune 500 companies headquartered in the region, residents have top-caliber employment options in close proximity. There are also a number of outdoor spaces within a small distance, including Grant Park, Cabbagetown Park and Historic Fourth Ward Park.

“It was vital to us to ensure that we were preserving the vibrant cultural elements of the East Atlanta submarket when designing Alta Dairies,” said Sands. “That is why you will find community spaces filled with authentic, local art and graphic graffiti.”

Alta Dairies is a premier, residential property in Reynoldstown that champions a community experience. For both the avid outdoor enthusiast and the technology-savvy young professional, Alta Dairies has amenities for all. An impressive indoor/outdoor rooftop sky lounge with double-sided fireplace boasts unparalleled views of Downtown and Midtown Atlanta, along with outdoor biergarten with bocce and yard games, outdoor kitchens with gas grills, a saltwater swimming pool with a tanning shelf, and expansive bicycle storage room and repair center. Residents will also be able to delight in a 24/7 fitness center with power gym and dedicated yoga studio, a pet spa and washroom, business center and conference room with rentable office spaces, as well as a fully furnished guest suite.

Inside, units have been designed to elevate the standard of living in this submarket. Units feature high ceilings, private patios or balconies, stainless steel kitchen appliances, gas ranges, quartz countertops, and other modern finishes that make the apartment homes at Alta Dairies the top of their class.

The community totals 312 units, featuring studios, and 1- and 2-bedroom floor plans, and offers an on-site parking garage. Alta Dairies joins a list of three properties managed by Wood Partners in Atlanta, with several under construction and in the pipeline.

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CHICAGO, IL – CIM Group announced that residents are moving in at The Paragon, a recently completed 500-unit, 47-tale apartment building with 7,500 square feet of ground floor retail space at 1326 S. Michigan Avenue in Chicago. The development team of CIM Group and Murphy Development Group received a Certificate of Occupancy for the first 25 floors of the building. Interior finishing work is being completed for units on the remaining 22 floors, which is anticipated to be complete in August.

The Paragon’s distinctive faceted glass-clad exterior is a striking addition to the Chicago skyline rising in the growing South Loop area. The contemporary residences are offered in a variety of floor plans ranging from studios to three-bedroom units, all featuring floor-to-ceiling windows providing sweeping views of Lake Michigan, Grant Park and beyond. Residences feature modern fixtures and finishes, stainless steel kitchen appliances, wood laminate flooring and a smart home experience by IOTAS, which integrates smart switches and outlets, motion and door sensors and smart thermostats by Nest.

Residents can delight in a variety of on-site amenities including a resort-style pool with cabanas, a top-floor gym, a spacious co-working area and a dog run. The neighborhood offers a mix of outdoor recreation such as the nearby lakefront trail and Grant Park as well as a wide variety of shopping, dining and entertainment. The Paragon is just blocks from a CTA station providing simple public transit connections.

Besides The Paragon, CIM’s other Chicago area assets include Block 37, the 275,000-square-foot, five-level retail center in Chicago’s Loop; Marquee at Block 37, the 38-tale, 690-unit residential apartment tower on top of Block 37; Tribune Tower West redevelopment and Tribune Tower East development; Fifteen Fifty on the Park condominiums, 425 Financial Place office complex; 1241 and 1647 N. Milwaukee Avenue; Midway Technology Centre; and 725 S. Wells Data Center.

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FORT WORTH, TX – Olympus Property announces the successful acquisition of Victorian Quarters at Team Ranch, a Class-A garden style community built in 2005 and located outside of Fort Worth, Texas in the bedroom community of Benbrook, Texas. Effective immediately, the asset will be renamed Olympus Team Ranch.

Olympus Team Ranch is located in prime southwestern Fort Worth only 10 miles from the Olympus Property Headquarters in downtown Fort Worth. Approximately 270,000 jobs are located within a 10-mile radius of the property including the Medical District, Lockheed Martin, Fort Worth Central Business District, and GM Financial. In addition, The Shops at Clearfork, a premier open-air mall anchored by Luxury boutiques and Waterside, a 63-acre mixed-use development, are both minutes from the property. Olympus Team Ranch is also positioned next to multiple prominent single-family subdivisions where homes range in price from $300,000 to $7,000,000.

“We are proud and honored to continue growing Olympus Property with the acquisition of Olympus Team Ranch in our own backyard with this gorgeous asset. We like this market and plot to own this deal for a long period of time,” said Anthony Wonderly, Principal of Olympus Property.

Olympus plans to spend approximately $2 million on top of the existing end outs to further enhance the interiors, rebrand the property, and add light amenity upgrades. These upgrades, such as adding stainless appliances, granite countertops, lighting package, vinyl flooring, backsplash, framed mirrors, washers and dryers, and fenced back yards in some units, will provide immense upside value to the asset.

“With our plotted renovation and rent increases, Olympus Team Ranch will make value for our investors and Olympus Property for years to come,” said Chase Bennett, Director of Acquisitions at Olympus Property. 

Olympus Team Ranch is a 248-unit low density community featuring nine-foot ceilings, crown molding, custom three-panel metal entry door, vinyl wood entry, faux wood 2″ blinds, balcony or patio with French door, double stainless steel sinks with arched faucet, kitchen pantry, black appliance package, separate utility area, ceiling fans with lighting in all bedrooms, and vinyl wood flooring in bathroom(s). Select units include vinyl wood flooring in kitchen and living areas, fireplace, double sink vanity, garden soaking tub, and storage on balcony or patio. Community amenities include a resort-style swimming pool, cascading fountain, sunning deck, covered pergola with seating, covered outdoor grill area with TV, covered pergola with picnic table and grill, attached and direct access garages, pet friendly bark park, private yard, lush landscaping throughout property, and 24-hour emergency maintenance.

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