REBusinessOnline

Alabama

Capital One Closes $27.1M Fannie Mae Loan for Apartment Community in Birmingham

BIRMINGHAM, ALA. — Capital One Multifamily has arranged a $27.1 million Fannie Mae loan for 4700 Colonnade, a 215-unit apartment community located in Birmingham. Built in May 2016, 4700 Colonnade was 97 percent occupied at closing. Chad Thomas Hagwood of Capital One Multifamily originated the 10-year, fixed-rate loan with two years of interest-only payments followed by a 30-year amortization schedule. The borrower, an affiliate of Kore LLC, is using the financing to retire construction debt..

April 24, 2017

Grandbridge Arranges $37.4M in Financing for Three Industrial Facilities in Alabama

LOXLEY AND BIRMINGHAM, ALA. — Grandbridge Real Estate Capital has arranged three loans totaling $37.4 million for industrial facilities in Alabama. The financing includes a $13.1 million loan for I-10 Business Park, a 977,520-square-foot industrial/bulk warehouse complex in the Mobile suburb of Loxley; a $12.8 million loan for Oxmoor South, a 528,428-square-foot warehouse in Birmingham; and a $11.5 million loan for a 515,000-square-foot distribution center in Birmingham. William Silsbee of..

April 7, 2017

Cushman & Wakefield Arranges $9.4M Sale of Two Mixed-Use Buildings in Downtown Birmingham

BIRMINGHAM, ALA. — Cushman & Wakefield has arranged the sale of Fix Play Lofts and Goodall-Brown Lofts, two mixed-use buildings located in downtown Birmingham’s central business district. Highland purchased both assets from affiliates of Sloss Real Estate for a combined $9.4 million. Together, the properties total 59 multifamily units and 20,577 square feet of ground-floor retail space. Jimmy Adams of Cushman & Wakefield represented the sellers in the transaction.

April 3, 2017

Cypress Equities Sells Eight Walmart Neighborhood Market Stores in Alabama, South Carolina

DALLAS — Cypress Equities has sold eight Walmart Neighborhood Market grocery stores in Alabama and South Carolina to an undisclosed REIT. Dallas-based Cypress Equities has served as a preferred developer in the Walmart Neighborhood Market build-to-suit program that was established in January 2014. In the past three years, Cypress has constructed and opened 20 Walmart Neighborhood Markets, and this sale represents the final disposition of the 20-store portfolio, which also includes stores in..

March 31, 2017

TSCG Secures 45,000 SF Lease for Surge Trampoline Park in Auburn-Opelika Area

OPELIKA, ALA. — The Shopping Center Group has secured a 45,000-square-foot lease for Surge Trampoline Park, which provides trampoline-themed parties and entertainment, in Opelika, a city approximately 65 miles east of Montgomery. The new tenant joins Planet Fitness, CitiTrends and Dollar General at Pepperell Corners, a 210,000-square-foot retail center situated at 2560 Pepperell Parkway. The center, which is 80 percent leased, is undergoing a $3 million renovation program slated for summer..

March 27, 2017

Berkadia Closes $10.75M Sale of 181-Unit Multifamily Property in Huntsville

HUNTSVILLE, ALA. — Berkadia, an investment sales and advisory firm, has finalized the sale of Belmont Hill Apartments, a 181-unit apartment complex located at 240 Martin Road in Huntsville. David Wilson of Berkadia represented the seller, Boston-based Stratford Management Co., in the transaction. HKSK, a Brooklyn-based corporation, purchased the property, which was 82 percent occupied at the time of sale.

March 22, 2017

Bayer Properties Completes $70M Restoration of Mixed-Use Property in Birmingham

BIRMINGHAM, ALA. — Bayer Properties has completed its 24-month, $70 million restoration of The Pizitz, a mixed-use property located at 120 19th St. in downtown Birmingham. The building now features 143 one- and two-bedroom apartments, a 13-vendor food court, two full-service restaurants, two 100-seat theaters and 13,000 square feet of co-working space. Prior to the restoration, The Pizitz, which was originally built in the 1920s to house a department store, had been closed for 28 years...

March 17, 2017

CBRE Arranges $131.6M Sale of Office Campus in Birmingham

BIRMINGHAM, ALA. — CBRE has brokered the $131.6 million sale of 3535 Colonnade, a 669,438-square-foot, Class A office campus in Birmingham. Griffin Capital Corp. purchased the property from Zurich Alternative Asset Management. Southern Co. Services Inc. fully leased the office campus in 2016 on a long-term basis with plans to take occupancy in 2019. Guy Ponticiello, Bruce Westwood-Booth, Jeff Shell, Maury Vanden Eykel and Kyle Sals of CBRE’s Chicago office represented Zurich in the..

March 10, 2017

GCP Inks Four Leases Totaling 833,927 SF with Automotive Suppliers in Alabama

BIRMINGHAM AND HUNTSVILLE, ALA. — Birmingham-based GCP has closed four separate lease deals totaling 833,927 square feet with automotive suppliers in Birmingham and Huntsville. The landlord has signed Mercedes-Benz U.S. International Inc. to a 225,496-square-foot lease for parts storage at Shelby Commerce Park, a 1.5 million-square-foot industrial park in Birmingham’s Shelby County submarket. The lease brings the project to full occupancy. Two of Mercedes-Benz’s vendor companies, Antolin..

March 8, 2017

EdR Purchases Student Housing Community Near Auburn University

AUBURN, ALA. — EdR has acquired 319 Bragg, a 305-bed student housing community located within walking distance of the Auburn University campus in Auburn. Built in 2014, the property offers two-, three-, four- and five-bedroom units. Community amenities include a study lounge with individual study rooms, 24-hour fitness center, resort-style pool with cabanas, dog park and access gates. Ryan Lang of ARA Newmark’s Student Housing Group represented the seller, Barrett Development Group, in the..

March 1, 2017