REBusinessOnline

Southeast

SVN Blackstream Arranges $12.1M Sale of Multifamily Asset in North Charleston

NORTH CHARLESTON, S.C. — Greenville, S.C.-based SVN Blackstream has brokered the $12.1 million sale of Alston Arms Apartments, a 160-unit multifamily community in North Charleston. Joey Weinel, Jonathan Kessler and Keith Nelson of SVN Blackstream negotiated the transaction on behalf of the seller. The buyer was not disclosed. Constructed in 2007, the property comprises two-bedroom units and is situated on 8.7 acres.

August 23, 2017

KeyBank Secures $14.5M CMBS Loan for Hotel in Charleston, West Virginia

CHARLESTON, W.VA. — KeyBank Real Estate Capital has arranged a $14.5 million CMBS loan for Four Points by Sheraton, a 176-room hotel in Charleston. William Cassidy of KeyBank structured the 10-year, nonrecourse loan featuring a 30-year amortization schedule. The borrower used the loan to refinance existing debt. Constructed in 1966 and renovated in 2014, the 12-story Four Points by Sheraton comprises 158,576 square feet and includes 10,000 square feet of office space, eight residential condos..

August 23, 2017

NAI Secures $49.5M Sale of Walmart Neighborhood Market Portfolio in Tennessee

FORT LAUDERDALE, FLA. — NAI Rauch Weaver Norfleet Kurtz & Co., a Fort Lauderdale affiliate of NAI Global, has arranged the $49.5 million sale of a four-store Walmart Neighborhood Market portfolio located in Chattanooga, East Ridge, Murfreesboro and Knoxville. Frank Castoro of NAI represented the buyer, a series of special purpose entities (SPE). The sites were build-to-suit prototypes for the store and are triple-net-leased to Walmart Neighborhood Market for 15 years with 18 five-year..

August 22, 2017

InvenTrust Acquires Publix-Anchored Center in Atlanta’s Midtown District for $31.8M

ATLANTA — InvenTrust Properties Corp. has purchased The Plaza Midtown, a 70,000-square-foot, Publix-anchored retail center in Atlanta’s Midtown district, for $31.8 million. The property is located roughly half a mile from the Georgia Institute of Technology. In addition to Publix, The Plaza Midtown is home to restaurants, fitness concepts and beauty retailers. The seller was not disclosed. With this acquisition, Downers Grove, Ill.-based InvenTrust owns and manages 85 retail properties..

August 22, 2017

GCP Purchases 464,947 SF Industrial Property in Charlotte for $22M

CHARLOTTE, N.C. — Birmingham, Ala.-based Graham Commercial Properties (GCP) has acquired 10000 Twin Lakes Parkway, a 464,947-square-foot industrial property in Charlotte, for $22 million. Constructed in 1992, the Class A property is situated at the junction of Interstates 77 and 485. At the time of sale, 10000 Twin Lakes was fully leased to Schleich North America, a German producer of hand-painted toys, and Ingersoll Rand, a Dublin, Ireland-based industrial supply company. The seller was not..

August 22, 2017

SRS Arranges $11.2M Sale of Shopping Center in Metro Charlotte

INDIAN TRAIL, N.C. — SRS Real Estate Partners has brokered the $11.2 million sale of Union Town Centre, a 102,360-square-foot shopping center in Indian Trail, roughly 16 miles southeast of Charlotte. Kyle Stonis and Pierce Mayson of SRS represented the seller, Equity Investment Group, in the sale to Katz Properties LLC. Situated on 15 acres at 5850 Highway 74 West, Union Town Centre is anchored by Food Lion and Dollar Tree.

August 22, 2017

Greysteel Brokers $10.3M Sale of Multifamily Property in Metro DC

HYATTSVILLE, MD. — Greysteel has brokered the $10.3 million sale of Courtyard Park, a 94-unit apartment community in Hyattsville, roughly seven miles northeast of Washington, D.C. Signature Properties acquired the property from CRG Cos. Kyle Tangney, Herbert Schwat and Ari Azarbarzin of Greysteel negotiated the transaction. Located at 4201-4213 Oglethorpe St., Courtyard Park, constructed in 1948, comprises seven four-story buildings.

August 22, 2017

Ardent Buys Five-Building Office Portfolio in Atlanta’s Buckhead District for $144M

ATLANTA — The Ardent Cos. has purchased five buildings within the 14-building Piedmont Center office park in Atlanta’s Buckhead district for $144 million. David Meline, Stewart Calhoun and Samir Idris of Cushman & Wakefield represented the seller, Northwestern Mutual, in the transaction. Gil Burstiner of Hartman Simons, a commercial real estate law firm, represented Ardent in the negotiations. KKR’s Real Estate Finance team financed the acquisition. Atlanta-based Ardent will invest in..

August 21, 2017

TH Real Estate Acquires Multifamily Community in Palm Beach County for $54M

DELRAY BEACH, FLA. — TH Real Estate, an affiliate of TIAA’s Nuveen, has acquired The Atlantic at East Delray, a 228-unit apartment community located at 650 Lavers Circle in Palm Beach County’s Delray Beach. The sales price was not disclosed, but the South Florida Business Journal reports the asset sold for $54 million. TH Real Estate purchased the property from a joint venture between Pollack Shores and its equity partner. Constructed in 1996, The Atlantic at East Delray features a..

August 21, 2017

Legacy Suites Opens $11M Hotel in Metro Charlotte

ROCK HILL, S.C. — Legacy Suites has opened a new hotel at 1835 Canterbury Glen Lane in Rock Hill, a South Carolina suburb of Charlotte. Built by MC Hotel Construction, the $11 million, four-story hotel comprises 64,000 square feet and includes 115 rooms. The extended-stay hotel features a kitchen and full-size appliances. Amenities include a gathering room, fitness center, laundry facilities, barbeque grills and a picnic area. MC Hotel Construction’s sister company, Midas Hospitality, will..

August 21, 2017