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USAA, Lowe Acquire Three-Building, 566,000 SF Office Complex in Metro D.C.

ALEXANDRIA, VA. — A joint venture between USAA Real Estate and Lowe has acquired Park Center, a three-building, 566,000-square-foot office complex in Alexandria, roughly eight miles north of Washington, D.C. The adjacent office buildings are located at 4300 King St., 3101 Park Center Drive and 4401 Ford Ave. Joe Carrol of Lowe and Bruce Childs of USAA Real Estate led the acquisition team internally. HFF represented the undisclosed seller, and arranged acquisition financing for the asset on..

January 19, 2018

Valeo, Harrison Street to Deliver 994-Bed Student Housing Community Near Clemson University

CLEMSON, S.C. — Valeo Groupe US, in conjunction with equity partner Harrison Street Real Estate Capital LLC, has unveiled plans to deliver Epoch Clemson, a 310-unit, 994-bed student housing community serving Clemson University in Clemson. Ed Coco, Matt Casey and Libby Malloy of HFF secured a floating-rate construction loan for the property on behalf of the developers. Other terms of the deal were not disclosed. Epoch Clemson will be situated along the shoreline of Lake Hartwell, just off..

January 19, 2018

NXT Provides $30M Refinancing for New Apartment Community in Atlanta’s Buckhead District

ATLANTA — NXT Capital has provided a $30 million first mortgage loan for the refinancing of Ardmore & 28th, a 165-unit apartment community located in Atlanta’s Buckhead district. Richard Jordan of CBRE arranged the loan through NXT on behalf of the borrower and developer, a joint venture between Enfold Properties and CF Real Estate Services. Construction on the property was completed at the end of 2016. Ardmore & 28th features apartment and townhome-style units, as well as a..

January 19, 2018

Roy Anderson to Lead $17M Construction Project at WWII Museum in New Orleans

NEW ORLEANS — Roy Anderson Corp., a subsidiary of Tutor Perini Corp., has unveiled plans to construct the Hall of Democracy at the National WWII Museum’s campus in New Orleans. The $17 million pavilion will total 34,800 square feet and will be dedicated to the museum’s research, WWII content, expertise and outreach. The pavilion will house a special exhibits gallery; the Institute for the Study of War and Democracy, which is expected to be the hub of World War II knowledge and education..

January 19, 2018

Watercrest, Waypoint to Develop 107-Unit Seniors Housing Community in Metro Atlanta

NEWNAN, GA. — A joint venture between Watercrest Senior Living Group and Waypoint Residential has unveiled plans for Watercrest Newnan Assisted Living and Memory Care Community in the Atlanta suburb of Newnan. The 107-unit, resort-style seniors housing community will be situated on nine acres. Groundbreaking is scheduled for next month, with an opening slated for spring 2019. Vero Beach, Fla.-based Watercrest specializes in the development and operations of assisted living and memory care..

January 19, 2018

Mazda, Toyota Select Huntsville for New $1.6B Auto Manufacturing Plant

HUNTSVILLE, ALA. — Mazda and Toyota leaders have selected Huntsville as the site of their new joint venture auto manufacturing plant. The automakers will invest $1.6 billion in the facility, located approximately 14 miles from Toyota’s existing Huntsville plant. The new plant will have the capacity to build 300,000 vehicles annually, with production split evenly between the two lines for each company to produce the Toyota Corolla and Mazda’s crossover model that will be newly introduced..

January 18, 2018

Granite, Third & Urban Form Development Partnership, Will Redevelop Warehouses in Atlanta’s West Midtown District

ATLANTA — Granite Properties has formed a long-term partnership with Third & Urban for the recapitalization and development of two warehouse properties in Atlanta’s West Midtown district. The partnership will create a portfolio to include the recapitalization of Complex, an adaptive reuse project Third & Urban unveiled in December 2016. The building is 80 percent leased to tenants including Proof of the Pudding, Bold Monk Brewing, Look Listen and LTX Solutions. The project is on..

January 18, 2018

Hudson Capital Acquires Two Multifamily Properties in North Carolina, Georgia for $66.1M

CARY, N.C. AND NORCROSS, GA. — Hudson Capital Partners (HCP) has acquired two multifamily properties in North Carolina and Georgia for a combined $66.1 million. The New York-based company acquired Cary Reserve at Weston, a 288-unit property in the Raleigh-Durham metro of Cary, for $46.8 million, as well as the 224-unit Willow Trail, a community in the Atlanta suburb of Norcross, for $19.3 million. HCP plans to invest approximately $7 million to renovate both properties, including unit..

January 18, 2018

HFF Arranges $26.7M Construction Loan for Adaptive Reuse Project in Nashville

NASHVILLE, TENN. — HFF has arranged a $26.7 million construction loan for the adaptive reuse of the former May Hosiery textile mill in Nashville. The development is located at 425 to 431 Chestnut St. and 510 Houston St. in the city’s Wedgewood Houston neighborhood. Danny Kaufman and Christopher Knight of HFF arranged the two-year, floating-rate loan through LoanCore Capital on behalf of the borrower and developer, Chicago-based AJ Capital Partners. Proceeds of the loan will be used for the..

January 18, 2018

Cushman & Wakefield Brokers $28.3M Sale of Apartment Community in Birmingham

BIRMINGHAM, ALA. — Cushman & Wakefield has arranged the $28.3 million sale of Chace Lake Villas, a 264-unit apartment community in Birmingham. Jimmy Adams and Josh Jacobs of Cushman & Wakefield arranged the transaction on behalf of the seller, Bluerock Real Estate. Myers Apartment Group acquired the property. Constructed in 1996, Chace Lake Villas is situated within walking distance to more than 2 million square feet of retail space, including Riverchase Galleria and Patton Creek..

January 18, 2018