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December 11, 2023

A Busier Sales And Foreclosure Market Expected For Atlanta In 2024

Join The Who's Who Of Atlanta Commercial Real Estate On Jan. 31

The new year is likely to bring grease to the wheels of investment sales as lenders get tougher on delinquent borrowers in the commercial real estate sector and beef up staffing to handle a deluge of foreclosures, a panel of industry experts warned during Bisnow’s Atlanta forecast event last week.

The distress and foreclosures are also spreading beyond the embattled office market and into multifamily, panelists said.

A Busier Sales And Foreclosure Market Expected For Atlanta In 2024

The pandemic created an environment where lenders were encouraged and willing to work with borrowers to support property values as the worst of the economic downturn passed, Woodvale Managing Partner Rahim Charania said during the Dec. 5 event at the…

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Southern Poverty Law Center Buys Westside Site To Build Community-Oriented Office

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The Southern Poverty Law Center has acquired a 2.5-acre site on Atlanta's Westside where it plans to build an office with community-oriented facilities. The Montgomery, Alabama-based nonprofit plans to build a 60K SF building at 871 Wheeler St. NW and relocate its regional office there, it announced Thursday. “We selected…

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Not Your Father's Campground: Investors Pile Into Luxury RV Parks, But Rash Moves Can Mean Bumpy Rides

Not Your Father's Campground: Investors Pile Into Luxury RV Parks, But Rash Moves Can Mean Bumpy Rides  

RV parks have long been part of the American zeitgeist, but the lure of the open road has traditionally led travelers to utilitarian campgrounds where an element of roughing it was still at play. Now, a newer, fancier version has entered the chat, and investors are rushing to cash in.

Luxury RV resorts with hotel-style amenity packages are the latest segment to capture the attention of commercial real estate. Interest in the burgeoning sector exploded after the onset of the pandemic, as remote work patterns and shifting demographics gave way to new clientele, pushing demand to new heights.

The luxury trend has a “long runway,” according to those jumping into the space. Yet some longtime players caution that newcomers caught up in the frenzy might be behind the eight ball, chasing demand that has already begun to fade as the world settles into a new normal.

“All of the sudden, we’ve gone through the pandemic, things have started to level off, and you still have a lot of investor demand — a tremendous amount,” said Darby Campbell, chairman and founder of Safe Harbor Development. “In my opinion, they’re a little bit late to the game.” Over…

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