News

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The latest news from Westplan Investors.

 

Peerless Network expands into Atlanta based 55 Marietta Street Data Center

ATLANTA, GEORGIA - Peerless Network (peerlessnetwork.com) announces that it will expand into an 18,000 SF data center space. Renovations to increase the data center capacity for Peerless and future tenants and a Meet Me Room are under way and will be finalized in the third quarter of 2014.

Read more: Peerless Network expands into Atlanta based 55 Marietta Street Data Center

Westplan Forms Strategic Partnership for Multifamily Development

ATLANTA, GEORGIA – Westplan and Brad Johnson have formed a partnership to develop multifamily projects in Atlanta and several other select markets in the southeast. Rob Carter, President, "We are very excited to partner with Brad who brings an immense amount of development experience and expertise to Westplan. This is a natural progression in Westplan's growth and will allow us to have direct control and influence over the development process for the benefit of our investors."

Read more: Westplan Forms Strategic Partnership for Multifamily Development

Westplan Invests in the Development of Class A Apartments in Gwinnett County, Georgia

ATLANTA, GEORGIA – Westplan has invested in The Highlands at Sugarloaf, a 390-unit luxury apartment community in Gwinnett County, GA to be developed in a joint venture with Brand Properties. 

Read more: Westplan Invests in the Development of Class A Apartments in Gwinnett County, Georgia

Westplan Sells Alta Royal Oaks Apartments in Houston, Texas

ATLANTA, GEORGIA – Westplan has successfully sold Alta Royal Oaks Apartments, a 282-unit Class A apartment project in Houston, Texas.  Westplan purchased an interest in the property with Wood Partners in 2004. 

Read more: Westplan Sells Alta Royal Oaks Apartments in Houston, Texas

Westplan Successfully Sells Dunwoody Station Apartments

ATLANTA, GEORGIA – Westplan, as a partner with Euramex in Dunwoody Station Apartments LLLP, has sold Dunwoody Station Apartments to Lincoln Property Company.  The property is a 530-unit, Class A community located in Dunwoody, Georgia.  Westplan acquired the property in April 2009.

Rob Carter, Executive Vice President, stated “the performance of this asset has improved significantly since we acquired it.  By selling it now we have been able to achieve a tremendous result for our investors.”

Read more: Westplan Successfully Sells Dunwoody Station Apartments

Westplan Successfully Sells The Shoppes at Fountain Oaks

ATLANTA, GEORGIA - Westplan has sold The Shoppes at Fountain Oaks in Atlanta, Georgia to AmREIT, a Houston, Texas based equity real estate investment trust. The Shoppes at Fountain Oaks, acquired by Westplan in 2010 from a German based equity trust, is a 160,000 SF Kroger-anchored center located in a unique location in Sandy Springs.

Rece Morgan, VP Retail, stated “even though we continue to see improving performance for this type of property, the sale realized a 23% IRR result for our investors.”

Read more: Westplan Successfully Sells The Shoppes at Fountain Oaks

Westplan Exceeds its Retail Leasing Goals in 2012

ATLANTA, GEORGIA – Westplan executed over 69,000 square feet of new and renewal leases in its Atlanta Retail Portfolio in 2012 which increased overall occupancy to 91%.  Westplan’s retail centers include Fountain Oaks in Sandy Springs, Rivermont Station in John’s Creek, Town Square in Decatur, Shoppes of Shiloh Crossing in Kennesaw and Butler Crossing in Acworth.  Notable new tenants include Title Boxing Club, Inc., Bridge Club of Atlanta, Dance FX, Dance Theatre, Mazzy’s Sports Bar, Asian Cajun and Buffalo’s Café.

Read more: Westplan Exceeds its Retail Leasing Goals in 2012