The Ardent Companies, a private real estate investment and asset management group, celebrated a successful first year and looked ahead to moving into their newly built headquarters in the Shadowood Office Complex at 2100 Powers Ferry Road, Suite 300 in the Cumberland area.
While serving as managing directors for Rialto Capital - growing the Atlanta office from two to 50 employees - Matt Shulman and Todd Terwilliger envisioned a smaller firm. The two pooled their resources, left their corporate positions and called former partners, John Chambliss and Dror Bezalel. In August 2013, the group officially became The Ardent Companies.
One of the firm's major focuses has also been on neighborhood retail. The Ardent Companies' strategy is to examine growing populations - primarily in the Southeast, while making investments nationwide by leveraging a network that covers the Midwest and entire East Coast, as well as individual states like Texas, Arizona and California.
Since opening its doors, company transactions have been roughly one-third bridge loan originations, one-third property acquisitions, and one-third note acquisitions. In addition to note purchases and originations on office, land, and hotel assets, the private investment and asset management group has taken part in eight direct retail investments.
A few of the most notable transactions consist of:
- 1010 Midtown - The Ardent Companies acquired 37,853 square feet of retail and restaurant space in a 35-story, 630,000 square-foot mixed-use development on Peachtree Street in Atlanta. An integral part of the 12th & Midtown Development Initiative to make Midtown Atlanta a highly sought after destination, Ardent purchased the street level retail space for $15 million.
- Sea Palms Resort - The Ardent Companies acquired a note from Synovus Bank and shortly thereafter took title to seven assets in Georgia and South Carolina. The main asset was the Sea Palms Resort which is a highly touted golf and tennis destination on St. Simons Island along Georgia's Golden Isles. The purchase included the Sea Palms Inn, which has subsequently been sold to the Sea Island Corporation.
- Shadowood Office Park - Situated on Powers Ferry Road, this office park is comprised of 195,297 square feet of office space and home to tenants such as Central Michigan University, Tetra Tech and The Ardent Companies. It will soon be home to multifamily housing operator ECI Group, as well as Acadia Homes & Neighborhoods' corporate office and home building design center. The asset was purchased for $8.1 million and is currently undergoing complete renovations.
- Roberts Realty Investors, Inc. - The Ardent Companies provided $5.5 million in bridge financing to Roberts Realty Investors, Inc., a real estate investment trust, for their 9.7 acre land parcel designated for a future mixed-use development in Sandy Springs.
- Century Springs Office Park - The Ardent Companies recently put under contract the Century Springs office park at 6000 Lake Forest in Sandy Springs, which consists of 192,251 square feet of office space. Set to close in late 2013, the property sits on over 12 acres of land that Ardent is exploring for additional uses.