Pollack Shores Real Estate Group and Braves Development Company Complete Sale of Home at The Battery Atlanta to Cortland Partners

Press Release

ATLANTA (Oct. 10, 2018) – Multifamily investor, developer and operator Pollack Shores along with Braves Development Company (BDC) announced today that they have completed the sale of three luxury apartment communities at The Battery Atlanta, a vibrant, 1.5 million-square-foot mixed-use destination anchored by SunTrust Park in Cobb County. The three highly coveted properties, known as Home at The Battery Atlanta, are just steps away from the Atlanta Braves’ new ballpark, and feature top-tier amenities along with unparalleled access to dining, shopping and entertainment experiences. Cortland Partners, an Atlanta-based multifamily real estate investment firm, is purchasing the property.

Home at the Battery Atlanta opened its doors earlier this year and includes three residential communities: Parkside, The Residences and The Flats. The trio of cutting-edge communities total 531 units encompassing more than 485,000 square feet, and feature one-, two- and three-bedroom floor plans that offer a blend of contemporary design finishes, stainless steel appliances, open kitchens, hardwood-style flooring and amenities ranging from rooftop bars and cyber cafes to wraparound balconies with a bird’s eye view of the ballpark.

The unique collaboration between the Braves and Pollack Shores has inspired a new era of sports-anchored mixed-use developments that incorporate multifamily living options, with more than a dozen similar projects now underway across the country in places such as Detroit and Los Angeles. The success of this partnership resulted in significant leasing demand, with the multifamily component achieving 90 percent occupancy.

“Home at the Battery Atlanta is a flourishing neighborhood that offers an unmatched living experience and serves as a blueprint for similar sports-anchored concepts now taking shape,” said Mike Plant, President and CEO of Braves Development Company. “The Braves looks forward to building on the strong momentum already generated at these outstanding residential communities, which will continue to serve as a signature component of our new home for years to come. We thank Pollack Shores for providing a visionary partnership and forward-looking approach that have established The Battery as a year-round destination.”

Pollack Shores said the move fits within the firm’s broader growth strategy, with Home at the Battery and several other assets recently hitting key benchmarks.

“We are proud of the partnership we’ve cultivated with the Atlanta Braves as we’ve worked collaboratively over the last few years to develop Home at the Battery Atlanta,” said Steven Shores, CEO and President of Pollack Shores. “Our decision to sell is reflective of a broader approach that recognizes strong demand for high-performing, Class A multifamily assets located near shopping, dining and entertainment. Pollack Shores is pleased to complete this latest chapter in our growth story.”

Parkside features 211 residences ranging from 619 to 1,528 square feet on Battery Avenue in the heart of the entertainment district and is directly adjacent to SunTrust Park’s central plaza. Parkside offers residents access to an exclusive clubhouse with exceptional views of the ballpark, a modern pool with sun shelf and lounge seating and a stately lounge and entertainment center featuring billiards and shuffleboard.

The Residences include 81 expansive, sophisticated apartments overlooking the terrace and streetscape in the epicenter of The Battery Atlanta, with apartment homes ranging from 815 to 1,272 square feet. Residents can enjoy a rooftop bar and lounge with a TV gallery and wrap-around balcony with views of SunTrust Park.

The Flats’ 239 residences are located in the shopping district of The Battery Atlanta, just steps away from upscale retail and dining experiences. At The Flats, residents have access to a modern pool andclubhouse featuring an entertainment center with a viewing bar, billiards, a gourmet kitchen, a fireplace and a cyber café. The community features a wide variety of residences that range from 650 to 1,435 square feet, and also includes an inner courtyard with an outdoor grilling area, lounge deck and abundant greenspace for residents and guests.

The Battery Atlanta also features an Omni Hotel, the Coca-Cola Roxy Theatre, a variety of chef-driven restaurants and more than 700,000 square feet of retail and office space. In addition, The Battery Atlanta is home to One Ballpark Center, Comcast’s regional office headquarters housing its Innovation Lab. German elevator maker Thyssenkrupp Elevator also recently announced plans to build a 420-foot tall testing tower that will serve as the company’s North American headquarters inside The Battery Atlanta, creating approximately 650 new jobs in Georgia. A pedestrian bridge connects The Battery Atlanta to nearby Cobb Galleria, with the property’s location at the corner of Interstates 75 and 285 allowing for easy access to and from anywhere in Atlanta.

Photos for Home at the Battery can be found here.

Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Nashville and Richmond. The firm is also the parent company of property management firm Matrix Residential, which has nearly 26,000 units under management across eight states.

For more information, please visit http://www.pollackshores.com./

About Pollack Shores Real Estate Group, LLC

Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. Founded in 2006, the Atlanta-based company currently owns $1.6 billion in total assets. Pollack Shores also owns and operates Matrix Residential, an innovative property management firm dedicated to creating exceptional experiences for every resident, property and client. Matrix Residential manages a balanced portfolio of nearly 26,000 multifamily units across eight states. Together, Pollack Shores and Matrix Residential are rooted in their mission of maximizing the value and living experience for every community. For more information about Pollack Shores, visit pollackshores.com/. For more information about Matrix Residential, visit matrixresidential.com/.

About Braves Development Company

Braves Development Company (BDC) was formed in 2014 and is the commercial real estate arm of Braves Holdings.  BDC is the owner and operator of The Battery Atlanta, the 1.5 million square foot mixed-use development anchored by SunTrust Park, home of the Atlanta Braves.  The Battery Atlanta features boutique shopping, chef-driven restaurants, a 4-star Omni Hotel, The Coca-Cola Roxy, Two Ballpark Center loft office, home to SPACES, and One Ballpark Center, Comcast’s regional office headquarters.  The mixed-use development and SunTrust Park are powered by Comcast’s all-fiber network delivering multi-terabit capabilities. Braves Holdings, LLC is a wholly owned subsidiary of Liberty Media Corporation, attributed to the Braves Group tracking stock (Nasdaq: BATRA, BATRK).