A team comprising LV Collective and Kayne Anderson Real Estate has closed on a refinancing of a student housing venture near the Georgia Tech Campus. The project, called Rambler Atlanta, is a 798-bed student housing community in midtown Atlanta.

Canyon Partners Real Estate provided the senior loan in a deal arranged by TSB Capital Advisors.

Commercial Edge reports that previous financing for the 215-unit property includes a $95.3 million construction loan from Pacific Life Insurance Co.

Completed in 2025, the 19-story property is at 736 Peachtree St. NE, close to the university and Technology Square. The unit mix comprises studio, one-, two-, four-, five- and six-bedroom floorplans ranging from 388 to 1,909 square feet, along with almost 3,000 square feet of retail space. 

All apartments have private balconies or patios. Common-area amenities include a café, swimming pool, hot tub, fitness center, yoga room and sauna. The property also has resident lounges, coworking and study spaces.

McCarthy Building Cos. completed CommonSpirit – Memorial Hospital, a 134,000-square-foot hospital located in Ringgold, a city in Catoosa County along the Georgia-Tennessee border. The $90 million project marks the first new hospital to be delivered to the community in seven decades. Hoefer Welker served as the design-build architect.

The 64-bed inpatient hospital replaces a 70-year-old medical and connects to the existing physician office building, serving as an anchor for its medical campus. 

The hospital features an emergency department with critical care services, imaging services, operating rooms, a GI department, a pharmacy, a modernized kitchen and server, a laboratory and a sterile processing department, as well as a chapel provided by the Sisters of Charity of Nazareth. The facility also houses eight ICU rooms and 56 medical and surgical rooms, including five isolation rooms. The site also houses the Rees Skillern Cancer Institute and the MaryEllen Locher Breast Cancer Center.

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Georgia has issued significant tax breaks for data centers since 2018. The tax breaks enabled the state to become a hotspot for data center development. The Atlanta Business Chronicle reports that, as a result of the tax breaks, Georgia has forgone approximately $2.5 billion in revenue in the current fiscal year. Now, some the Georgia legislature want to rein in some of the tax breaks.

Data centers can generate substantial tax revenue for local communities. However, they tend to create few permanent jobs and can consume large amounts of land, water, and electricity.

Besides the tax break issue, the legislature is hoping to ensure that the costs incurred to provide electricity service to data centers are not passed on to residential and retail customers. It would require contracts between electric utilities and data centers to include terms and conditions designed with that goal in mind.

In December, the PSC approved Georgia Power’s plan to build 10,000 megawatts of power primarily to serve data centers.

The proliferation of retail bankruptcies and liquidations has resulted in a major increase in available anchor space and a decline in rent, according to CBRE’s Georgia Retail Anchor Report.

Here are some takeaways from the report:

Despite this, the demand for high-end Class A space remains high. The fitness and recreation category was the most active, accounting for 20% of retail anchor deals in 2024.

Georgia’s retail landscape is experiencing a significant shift, with available anchor space jumping by a staggering 57% in 2024. At the end of 2024, 6.8M SF retail was available, up from 4.3M SF in 2023.

As a result, lower quality spaces are flooding the market with a surplus of Class B and C retail anchor spaces. This is driving down rental prices. Currently, the average asking rent is $11.76, and the average rent comp is $12.26. 

These factors are driving what we expect will be a prolonged market slowdown for many owners of retail anchor space, with an average market time exceeding 2 years. 

Georgia has seen a surge in data center construction. While some appreciate the benefits in regard to property taxes kicked off from the site, others lament the amount of power and water the centers consume. Legislators have advanced a proposal that would require the state’s largest electric utility to charge data centers for the costs incurred to serve them. The bill has been passed out of a House committee and would still require full House and Senate approval and the governor’s signature.

Under the proposal, Georgia Power would be compelled to bill data centers for infrastructure investments and other costs associated with supporting the facilities. The utility would be prohibited from passing those costs onto residential and small business customers.

Georgia Power customers are paying 37% more for power than they did two years ago. Georgia Power expects electricity demand to increase by 50% by the end of 2030, largely due to new data centers.

Alliance Industrial Company purchased 66.75 acres of land near the Northeast Georgia Inland Port in Gainesville, Georgia. The company will develop two speculative industrial buildings totaling 540,408 square feet. Building 100 will be 113,536 square feet and Building 200 will be 426,872 square feet. The park will be named Alliance 985 Business Park.

Avison Young’s Chris Hoag, Jason Holland, and Andrew Joyner arranged the transaction on behalf of Alliance and have been tapped to handle leasing. Stephen Lovett and Zach Tibbs of Norton Commercial represented one of the four parcels of land.

Alliance will break ground on the project in Q1 2025 and is slated to deliver in early 2026. With immediate access to I-985 and within 15 miles of I-85, the park offers excellent connectivity to local, regional, and national distribution channels. Tenants will benefit from proximity to key logistics hubs such as UPS and FedEx.

EoS Fitness is expanding into greater Atlanta. With plans to open over 50 locations throughout Georgia over the next ten years, EoS is set to open its first several gyms by 2027.

EoS has over 175 locations open or on the way in Arizona, California, Florida, Nevada, Texas and Utah. Georgia is part of the company’s broader strategy to surpass 250 gyms nationwide by 2030, reinforcing its commitment to providing communities with a premium fitness option featuring a variety of exceptional amenities at an accessible price point.

Each new location represents a $10 million investment and brings 40-60 jobs. The company plans to open more than 30 gyms in 2025.

EoS Fitness locations in the greater Atlanta area will average between 40,000 and 50,000 square feet.

Landmark Properties has purchased the parking lot of an Atlanta landmark. The family behind The Varsity restaurant agreed to sell 2 acres of its property along the Downtown Connector. A price was not disclosed.

Landmark is planning a 2,000-bed student housing project that would overlook Georgia Tech’s Bobby Dodd Stadium.

The Atlanta Business Chronicle reports the proposed development would not impact the operations of The Varsity. Landmark Properties said its new tower will offer pedestrian access into the heart of the Georgia Tech campus. 

Georgia Tech’s enrollment continues to grow, increasing almost 10% over the past three years. In fall 2023, enrollment for all degrees was almost 48,000 students, up from just under 44,000 students in fall 2021..

Landmark’s new project will offer amenities, such as a pool with jumbotrons, sports simulator, sauna, study space and sky lounges.

It will be its fourth project in Midtown and Downtown, bringing the company’s intown portfolio to more than 4,000 beds. 

Student housing behemoth Core Spaces is hoping to build a 265-unit student housing project adjacent to the Academy of Medicine in midtown Atlanta. The Atlanta Business Chronicle reports Core is looking at a 0.8-acre site at Seventh and Cypress streets for the Hub Cypress, which is now used as a parking lot. The project would also include a coffee shop and be near Georgia Tech University. Dwell Design Studio is the architect.

Core Spaces would not impact the historic structure, which was built in 1941. The project would offer parking spaces and service-related features for the Academy of Medicine, which is now used as an event space.

The company recently completed The Hub on Campus in the same area, which consists of 290 units. Core Spaces has developed dozens of student housing projects across the United States. Yesterday, ConnectCRE reported on a 2,195-bed project near North Carolina State.

Oglethorpe Power will break ground on a new combined-cycle plant in Forsyth in Monroe County, Georgia. This two-unit, approximately 1,200-megawatt facility will be built on land the company owns, adjacent to the Smarr Energy Facility, an existing natural gas-fired simple-cycle combustion turbine plant that they operate. The development of this new facility will represent a capital investment of approximately $2 billion in Monroe County.

In Talbot County, Oglethorpe will begin construction on a new combustion turbine unit at its existing plant in Box Springs, Georgia. This new, approximately 240-megawatt unit, which will be the seventh unit at the Talbot Energy Facility, is expected to be the most efficient natural gas peaking plant in its fleet. The unit will also feature dual-fuel capability, enhancing year-round resiliency. The development of this new unit will represent a capital investment of approximately $360 million in Talbot County.

Oglethorpe provides power for Georgia’s 38 electric cooperatives.