Outside the Region: Gamma Real Estate provides $7.5 million loan for Atlanta site acquisition

Atlanta, GA Gamma Real Estate has provided a $7.5 million loan that enabled a Los Angeles-based entertainment company to acquire a historic industrial site from the Georgia Building Authority. The purchaser reportedly plans a mixed-use development there.

 The 27-acre property, known as Pullman Yard, was acquired by Atomic Entertainment LLC for $8 million. 

The building was originally developed in 1900 as the headquarters of an engineering company, and later served as a World War I ammunitions plant. In 1922, Pullman Company established a massive railcar maintenance facility there.

Although the site has been unused since 1993, its industrial structures have served as sets for a number of movies in recent years, including entries in “The Hunger Games” and “Fast and Furious” series.

Atomic has said it will redevelop the property as a mixed-use community that includes  film and television production sound stages, a music performance venue and affordable housing. Pullman Yard is situated in the Kirkwood section of eastern Atlanta, where considerable housing development has been occurring.

“It is always a pleasure to help advance projects that make innovative and productive re-use of obsolete property,” said Jonathan Kalikow, president of Gamma Real Estate. “This planned redevelopment has the potential to make an important contribution to Atlanta’s economy and its affordable housing inventory.”