Holder Properties secures debt and equity for shovel-ready Forsyth County industrial project alongside partner Tamarack Investments

ATLANTA, May 6, 2025 – JLL Capital Markets announced today that it has arranged $46 million in construction financing and $25 million in joint venture equity for the development of Coal Mountain Industrial Park, a 608,642-square-foot, Class A industrial project in Forsyth County, Georgia.

JLL worked on behalf of the developers, Holder Properties and Tamarack Investments, to secure a construction loan through Pinnacle Financial Partners and to place the joint venture equity with Hartford Investment Management Company (“HIMCO”).

Scheduled to deliver in phases starting in Q2 2026, Coal Mountain Industrial Park will be comprised of three state-of-the-art, rear-load distribution centers spanning 146,400, 250,150 and 212,500 square feet, respectively. The buildings will feature 32-to 36-foot clear heights, 60-foot dock bay depths, TPO roofing and concrete tilt-wall construction.

Coal Mountain Industrial Park is strategically positioned in the rapidly growing North Fulton/Forsyth County submarket of Atlanta. Located at 4005 Settingdown Rd. in Cumming, Georgia, the property offers immediate access to GA-400 via a lighted intersection just 0.2 miles away, providing convenient connectivity to Atlanta's urban core and affluent northern suburbs.

“We’re proud to move Coal Mountain Industrial Park forward in partnership with a team that shares our vision,” said Will Menkes, President, Managing Partner of Holder Properties. “This project represents a rare opportunity to deliver high-quality industrial space in one of Atlanta’s fastest-growing and most supply-constrained submarkets. Advancing development in today’s challenging economic climate underscores the quality of this project and the experience of the team bringing it to life. Commencing construction during a time where new starts are so low relative to recent history is attractive to us and our partners.”

With 45 years of experience in the Atlanta market, Holder Properties brings deep market knowledge, a hands-on approach and a legacy of delivering best-in-class assets that create long-term value for communities, partners and stakeholders. Coal Mountain Industrial Park reflects the company’s continued expansion of its warehouse/logistics platform and its commitment to smart growth in key markets.

The JLL Capital Markets team was led by Managing Director Bobby Norwood, Associate Hamp Gibbs and Analyst Streeter Simmons.

"The financing package we've arranged for Coal Mountain Industrial Park reflects the strength of this opportunity,” said Norwood. "The exceptional demographics, highly skilled labor pool and diverse tenant demand in this area position the project for strong performance."

Norwood continued, "The robust fundamentals of the North Fulton/Forsyth submarket, combined with the experienced sponsorship, made this an attractive investment for both Pinnacle and HIMCO."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Founded in 1980, Holder Properties is a privately held, full-service commercial real estate development and investment management company. Holder Properties has extensive experience in investments, development, asset management, and property management. The company has developed or acquired over 14 million square feet of space across 100 projects in 17 states in the U.S., with total capitalization exceeding $4 billion. Its portfolio includes a diverse range of property types, such as warehouse/logistics facilities, student and market-rate rental housing, multi-tenant offices, corporate headquarters, and other commercial assets. Holder Properties strives to build long-term, rewarding relationships with its partners, clients, and the communities it serves through its commitment to integrity and delivering best-in-class assets and services. To learn more, visit holderproperties.com.

Tamarack Investments (“Tamarack”) is a privately held real estate investment and operating company with offices in metro Atlanta and Portland, ME. Tamarack acquires, develops, and redevelops industrial real estate assets in the southeastern United States. To date, the principals of Tamarack have transacted over $2 billion of debt and equity capital. Since its inception in 2015, Tamarack has served as an investment manager for trusts, family offices, and high net worth individuals looking to invest in commercial real estate. As a proven and trusted sponsor, Tamarack has established a track record of performance and the ability to source off-market investment opportunities through its extensive network.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2024 deposit data from the FDIC. Pinnacle is No. 11 on FORTUNE magazine’s 2024 list of 100 Best Companies to Work For® in the U.S., its eighth consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 12 years in a row and No. 1 among banks with more than $10 billion in assets in 2024.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $52.6 billion in assets as of December 31, 2024. As the second-largest bank holding company in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast.

Hartford Investment Management Company (HIMCO) is the asset management arm of The Hartford Insurance Group, Inc. (The Hartford). HIMCO is an insurance asset manager with approximately $116 billion in assets under management across the global fixed income and alternatives markets (as of March 31, 2025).  The firm manages assets on behalf of The Hartford, as well as insurance, sub-advisory and other institutional clients.