And with the U.S.’ high level of real estate transparency—which gives non-U.S. investors clear insights into the differences they may encounter when transacting, owning, and operating in foreign markets—secondary U.S. markets like Atlanta will likely continue to see increasing amounts of investment.
Canadian Firms Explore ATL
Metro Atlanta has recently generated significant interest from foreign investors. Since the beginning of 2014, 12 acquisitions by foreign investors have spanned office, industrial, retail, apartment and hotel property types. Canada-based investors have been particularly active, accounting for nine of those acquisitions, including:
- General Mills Distribution Center, Social Circle, Georgia, $51,550,000 (purchased by WPT Industrial REIT, Canada)
- Apex West Midtown Apartments, Atlanta, $49,375,000 (Venterra Properties, Canada)
- Hotel Palomar, Atlanta, $38,282,118 (Brookfield Asset Management, Canada)
- Harbor Creek Apartments, Canton, Georgia, $28,000,000 (Milestone Apartments REIT, Canada)
- Merchant Square shopping center, Riverdale, Georgia, $15,300,000 (Slate Properties Inc., Canada)
- Primerica headquarters, Duluth, Georgia, $5,407,500 (the lone office acquisition by a foreign investor)( Baryshnik Capital Management Inc., Canada)
Read more about global real estate transparency in JLL and LaSalle Investment Management’s Global Real Estate Transparency Index 2014 report. And stay updated on Atlanta’s commercial real estate market by subscribing to the JLL Atlanta blog.