REBusinessOnline

Avison Young Negotiates $70M Sale-Leaseback of Transformco Distribution Center in Central Florida

OCALA, FLA. — Avison Young’s Florida Capital Markets Group has negotiated the sale-leaseback of the approximately 1.9 million-square-foot Transformco Distribution Center located at 655 S.W. 52nd Ave. in Ocala. HFZ-Reich, a partnership between HFZ Capital Group and Reich Brothers, purchased the asset for $70 million. Michael Fay, Jay Ziv, John Crotty, David Duckworth, Brian de la Fé, Berkley Bloodworth and Emily Brais of Avison Young negotiated the sale on behalf of the seller and tenant, …

NKF Brokers $60.2M Sale of Dominion Square Site in Tysons, Virginia

TYSONS, VA. — Newmark Knight Frank (NKF) has negotiated the $60.2 million sale of a 12-acre eastern parcel within the Dominion Square mixed-use development in Tysons, situated 13 miles west of downtown Washington, D.C. Capital Automotive Real Estate Services Inc., a McLean, Va.-based financial holding company specializing in car dealership locations, sold the parcel to an undisclosed buyer, whom the Washington Business Journal indicates is LHL Dominion Square, possibly an affiliate of New …

Berkadia Arranges $46.5M Sale of Waterford Landings Apartment Complex in Clarksville, Tennessee

CLARKSVILLE, TENN. — Berkadia has brokered the sale of Waterford Landings, a 364-unit multifamily property in Clarksville, approximately 50 miles northwest of Nashville. Texas-based apartment management company WAK Management Co. purchased the asset for $46.5 million. Berkadia represented the Arizona-based developer and seller, Stoneleigh Cos., in the deal. Located at 135 Westfield Court, the property features studio, one-, two- and three-bedroom floor plans. Amenities include two swimming …

Arbor Provides $12.4M Fannie Mae Acquisition Loan for Greenville Apartment Community

GREENVILLE, S.C. — Arbor Realty Trust Inc. has provided a $12.4 million Fannie Mae acquisition loan for the Hudson Orchard Park, a 172-unit apartment community in Greenville. Ryan Duff of Arbor’s New York City office originated the loan. Built in 1984, Hudson Orchard Park features outdoor amenities including a barbecue/picnic area, clubhouse with residential kitchen, large patios and balconies, pet play area and a pool, fitness center and volleyball court. Located at 49 Orchard Park Drive, …

Stratus Development Breaks Ground on 286-Bed Student Housing Community Near University of Georgia

ATHENS, GA. — Stratus Development Group has broken ground on The Haven of Athens, a 286-bed student housing community located one-and-a-half miles from the University of Georgia’s main campus in Athens. The development will offer two-, three-, four-, five- and six-bedroom, cottage- and townhome-style units with bed-to-bath parity. Shared amenities will include a resort-style swimming pool, study rooms, a fitness center, dog park, hammock park, fire pit and covered parking. The development …

Hillwood to Develop 1 MSF Amazon Fulfillment Center in North Mississippi

OLIVE BRANCH, MISS. — Hillwood Investment Properties plans to build a 1 million-square-foot fulfillment center in Olive Branch, approximately 25 miles from Memphis, for e-commerce giant Amazon (NASDAQ: AMZN). The facility will house picking, packing and shipping operations for larger customer orders and create 500 new full-time jobs. According to The Clarion-Ledger, the new facility will be located within Hillwood’s Legacy Park, a 266-acre business park in DeSoto County. The Class A …

Northland Investment Buys Inspire SouthPark Multifamily Complex in Charlotte for $145M

CHARLOTTE, N.C. — Northland Investment Corp. has acquired Inspire SouthPark, a 369-unit multifamily complex in Charlotte, for $145 million from seller and developer Morgan Bond Co. Six miles south of downtown Charlotte, Inspire SouthPark is now the fourth of Northland Investment’s North Carolina apartment properties. Inspire SouthPark offers studio to three-bedroom apartments, a pool, fitness and wellness centers, courtyard, social hall, dog care facility and underground parking. The …

Lucror Resources, Sixty West Break Ground on Motto by Hilton Hotel in Atlanta’s Old Fourth Ward

ATLANTA — Lucror Resources and equity partner Sixty West have begun construction on one of the first Motto by Hilton hotels in the United States. The 146-room micro-hotel brand is located in the Old Fourth Ward neighborhood of Atlanta at 40 Boulevard NE, less than two miles from Ponce City Market. The hotel is slated to open in 2021 as part of Waldo’s, a planned $80 million mixed-use development project that will include 13,000 square feet of restaurants, an office building and 10 …

Hines REIT Acquires Apartment Community Near University of Maryland for $98M

COLLEGE PARK, MD. — Hines, an international real estate developer based in Houston, has acquired The Alloy by Alta, a new seven-story, 275‐unit multifamily asset located at 4700 Berwyn House Road near the University of Maryland in College Park. Hines purchased the asset via Hines Global Income Trust, the company’s nontraded REIT. The purchase price was not disclosed, but multiple media outlets reports Hines purchased the property for $98 million. The predominantly student-occupied …

Bluestone Properties Purchases 1400 Chestnut Apartments in Downtown Chattanooga

CHATTANOOGA, TENN. — Bluestone Properties has purchased 1400 Chestnut Apartments, a 200-unit multifamily property in downtown Chattanooga. According to the Chattanooga Times Free Press, Birmingham, Ala.-based Kore LLC delivered the community in 2017. Close to Interstates 24 and 75, the four-story residential community contains one- and two-bedroom apartments, a pool and lounge area, resident center with a complimentary wine and coffee bar, grilling and fire pit areas, fitness center, yoga …

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