Report: Katharine Kelley Departs Newport
The person tapped to help Newport US RE's surge in Downtown Atlanta has left her post at the German real estate investment firm.
Katharine Kelley stepped down from Newport earlier this month, the Atlanta Business Chronicle reports. Kelley declined to comment to the paper on the move, and did not return requests for comment.
A Newport US RE spokesperson told the ABC that the firm may still look to partner with Kelley in the future.
Kelley was instrumental in helping make Newport one of the dominant commercial landlords in Downtown Atlanta. Since 2016, Newport has purchased 47 aging Downtown buildings along Peachtree, Mitchell and Broad streets, as well as Martin Luther King Jr. Drive, to revive them into a mix of retail, creative office and loft apartments.
The long-neglected submarket is seeing a revival of sorts under a handful of real estate investors and developers, including CIM Group, which is redeveloping the Gulch property into a mixed-use destination. It is currently the epicenter of the sports universe as Mercedes-Benz Stadium prepares to host Super Bowl LIII on Sunday.
