Franklin Street Brokers Sale of Ponce Deleon Hotel

March 27, 2015

ATLANTA — Franklin Street Real Estate Services has arranged the sale of the Ponce DeLeon Hotel, a 58-room, extended-stay hotel at 551 Ponce De Leon Ave. in Atlanta. The hotel is located just east of the new Ponce City Market and is within walking distance to Atlanta’s Midtown, Virginia Highland and Old Fourth Ward neighborhoods. Nazar Properties LLC purchased the 18,500-square-foot asset for an undisclosed amount. Jake Reid of Franklin Street represented the seller, an Atlanta-based family that owned the hotel for 60 years.

A Little Less Boom in ’14

These are boom times for South Florida multifamily, but what next? Franklin Street regional managing partner Deme Mekras tells us the ride isn’t over yet. But it might be a little slower and just a bit bumpier in ’14. (So less of a boom and more of middling rumble.)

The List-Makers: Atlanta’s Commercial Real Estate Brokerages

Danny York
Chief Operating Officer
Franklin Street
Years with firm: 7
You should know: Franklin Street is one of the fastest-growing commercial real estate companies in the Southeast and continues to flourish

Atlanta’s Top 30 Commercial Real Estate Brokerages

Franklin Street is ranked 27 in Atlanta’s Top 30 Commercial Real Estate Brokerages. Ranked by gross dollar volume of sales and leasing transactions generated out of the Atlanta Office.

What’s in store for SOFLA real estate in 2014?

Deme Mekras, regional managing partner, Franklin Street Real Estate Services “The multifamily market will continue to be strong, but it won’t keep up the torrid pace it has enjoyed over the past few years. I believe values will continue to increase in 2014, but at a slower rate than what we’ve seen. We’ll continue to see some rent appreciation in desirable markets such as Coral Gables and Miami Beach but remain somewhat flat in secondary markets.”