REBusinessOnline

Ziff Properties Acquires Flex Office Park in Greenville for $5.2M

GREENVILLE, S.C. — Ziff Properties has acquired Garlington Park in Greenville for $5.2 million. The four-building business park comprises office, flex and warehouse space and totals 119,734 square feet. Land Development Inc. sold the property, and The Whitmire Co. and SVN BlackStream arranged the transaction. The buildings were constructed between 2001 and 2008. Garlington Park is home to tenants such as Grey Eagle Traders, Pompeii Motorsports and Fabrico

Berkeley Point Provides $59.4M Fannie Mae Loan for Refinancing of Charlotte Apartment Asset

CHARLOTTE, N.C. — Berkeley Point Capital has provided a $59.4 million Fannie Mae loan for the refinancing of Autumn Park Apartments, a 586-unit multifamily community in Charlotte. Mitch Clarfield and Joshua Braceros of Berkeley Point originated the 15-year loan with 10 years of interest-only payments through Fannie Mae’s Green Rewards program. The borrower, Rambleside Real Estate Capital, originally acquired the property in 2012 for $56.3 million. During its ownership, the firm has invested …

EIG Receives $57.8M Construction Loan for New Multifamily Community in Miami

MIAMI — Miami-based Estate Investment Group (EIG) has received a $57.8 million construction loan to fund the development of Soleste Twenty2, a 338-unit apartment community located at 2201 Ludlam Road in Miami’s Coral Way Manor neighborhood. Florida Community Bank provided the loan. The community will feature a mix of studio to three-bedroom units with rents starting in the mid-$1,300s. In addition, the project will offer several units with floor plans designed to provide residents with …

Publix to Anchor Retail Portion of Latitude Margaritaville in Daytona Beach

DAYTONA BEACH, FLA. — Sutton Properties has signed Publix to anchor Latitude Landings, the 200,000-square-foot retail portion of Latitude Margaritaville Daytona Beach, an active adult community. Margaritaville Holdings and Minto Properties are developing the community, and Sutton Properties is developing and leasing the project’s retail portion, dubbed Latitude Landings. Publix will occupy 48,000 square feet at the shopping center, which will be located on LPGA Boulevard, adjacent to the …

MRP Industrial Signs 220,800 SF Lease with La-Z-Boy at Industrial Park Near D.C.

BOWIE, MD. — MRP Industrial has signed La-Z-Boy to a 220,800-square-foot, full-building lease at 16101 Queen’s Court, located within Bowie’s Collington Park industrial development. Delivered in 2016, the facility is located roughly 18 miles northeast of Washington, D.C. The national furniture manufacturer will transfer its distribution and logistics operation, currently located in Odenton, Md., to the new facility this fall. Lisa Goodwin of MRP Industrial and Lance Schwarz of NAI Michael …

Crescent Communities Sells New 201,758 SF Industrial Building in Metro Charlotte for $12.7M

FORT MILL, S.C. — Crescent Communities has sold Lakemont East, a 201,758-square-foot industrial building in Fort Mill, a South Carolina suburb of Charlotte. Hartz Mountain Industries Inc. acquired the newly constructed building for $12.7 million, according to the Charlotte Business Journal. Patrick Gildea of CBRE arranged the transaction on behalf of Crescent. Lakemont East was developed in collaboration with architectural firms Merriman Schmitt and Gensler. The building is located within …

LCS Development to Lead $125M Expansion of Seniors Housing Community in Boca Raton

BOCA RATON, FLA. — LCS Development, an LCS Company, has been selected to develop and market the $125 million expansion of the Toby & Leon Cooperman Sinai Residences of Boca Raton. The not-for-profit continuing care retirement community (CCRC) opened in 2016 and includes 234 independent living homes, 48 assisted living units, 24 memory care units and 60 skilled nursing beds. The expansion will add an estimated 100 independent living residences, at least two additional themed dining …

Greystone Provides $29.2M Freddie Mac Loan for Refinancing of Apartment Asset in Raleigh

RALEIGH, N.C. — Greystone has provided a $29.2 million Freddie Mac loan for the refinancing of Andover at Crabtree, a 368-unit apartment community in Raleigh. Dale Holzer of Greystone originated the seven-year loan with two years of interest-only payments through Freddie Mac’s Green Up program on behalf of the borrower, a publicly traded REIT. The program provides attractive terms for borrowers that commit to energy or water savings. Andover at Crabtree features two swimming pools with lake …

Suburban Capital to Develop $26.3M Hyatt Place Hotel in Virginia Beach

VIRGINIA BEACH, VA. — Virginia Beach-based Suburban Capital Inc. has unveiled plans to build a 127-room Hyatt-branded hotel in Virginia Beach. Hyatt Place at Pembroke Park will be located at 281 Independence Blvd. and will serve as a catalyst for the redevelopment of the 14-acre Pembroke Park into a higher density mixed-use development, according to the project’s developers. The Virginia Beach Development Authority has approved an Economic Development Investment Program Grant in the amount …

Hilton Grand Vacations, Strand Capital to Develop New Hotel in Downtown Charleston

CHARLESTON, S.C. — Hilton Grand Vacations Inc. (HGV), in a joint venture with Strand Capital Group LLC, has unveiled plans to build a new hotel in downtown Charleston. The hotel will be located at 475 E. Bay St., within walking distance of The Battery and the South Carolina Aquarium, as well as the city’s dining, shopping and entertainment options. The hotel, dubbed Liberty Place Charleston by Hilton Club, will be HGV’s first property in the historic city. HGV will invest $10 million in …