'The Future Is Now': Is Newark's Long-Awaited Revival Finally Happening?

Atlantic Station is a sprawling mini-city in the heart of Midtown Atlanta, home to office towers, condominiums, hotels, townhouses and strings of retail shops spread across its own street grid. 

While its owner, Hines, continues to add to the commercial space there, it is planning to spend $20M to upgrade a space that doesn't add a single dollar in direct rent to its balance sheet. 

Hines is doubling the size of its Central Park at Atlantic Station, including tearing down two existing restaurant buildings and rebuilding two smaller restaurant facilities, adding a larger patch of turf with a massive LED screen looming overhead. The developer also is erasing two of its roads and redesigning them for pedestrians only.  

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A Berlin-based co-living company has raised €1B ($1.1B) of capital to undertake what it says is the largest-ever investment in the nascent sector, as part of its plan to become “the WeWork of co-living”.

Medici Living has teamed up with Frankfurt-based Corestate Capital to buy and build as many as 35 co-living facilities in Europe — and it is planning an even larger expansion in the U.S. 

The €1B will comprise equity and debt, and will be deployed in major capital cities across Europe to build up a portfolio that could total 6,000 beds. Market sources suggested the company has already raised separate equity with a different partner to invest in the U.S. and had its first new deals lined up. The U.S. capital raising in 2019 is likely to match or exceed that in Europe. 

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