REBusinessOnline

Alabama

CREI Sells 574-Bed Student Housing Community Near Auburn University

AUBURN, ALA. — Capstone Real Estate Investments LLC (CREI) has sold Eagles South Apartments, a 574-bed student housing community located roughly two miles from the Auburn University campus in Alabama. Aspen Heights acquired the property for an undisclosed price. The community offers one- and two-bedroom units with bed-to-bath parity. Shared amenities include a 24-hour fitness center, barbecue grills and picnic areas, a pool, computer lab, outdoor fireplace, clubhouse, sand volleyball courts..

February 14, 2018

White-Spunner Construction to Deliver $15M Hampton Inn & Suites Near Mobile

SARALAND, ALA. — Mobile-based general contractor White-Spunner Construction is underway on a new 101-room Hampton Inn & Suites in Saraland, roughly 12 miles north of Mobile. The $15 million hotel will replace a previous Hampton Inn that closed in 2017, and will be one of the first to feature the newest Hampton design for the brand. In addition, the hotel will feature 900 square feet of meeting space, an outdoor pool, fitness center, sundry shop and a business center. The hotel is..

February 5, 2018

GCP Secures $60M Refinancing from MetLife for Seven-Property Industrial Portfolio in Southeast

BIRMINGHAM, ALA. — Birmingham-based GCP has secured a $60 million loan from MetLife for the refinancing of a seven-property industrial portfolio located throughout Atlanta, Charlotte, Alabama and Florida. Speake Financial advised GCP on the 10-year, fixed-rate loan. The properties comprise nearly 1.8 million square feet of GCP’s 7.2 million square foot inventory across the Southeast. The refinanced portfolio includes Progress Center and Troon Circle in Atlanta, which total 611,200 square..

February 2, 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

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

Passco Acquires 240-Unit Apartment Community Near Montgomery

PRATTVILLE, ALA. — Passco Cos. has acquired ARIUM HomePlace, a 240-unit apartment community located at 790 Old Quarters Road in Prattville, roughly 15 miles northwest of Montgomery. Chris Black and Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing for the asset on behalf of Passco. Jimmy Adams of Cushman & Wakefield arranged the sale on behalf of the seller, a private investor. Other terms of the deal were not disclosed. The property, constructed in 2014, will be..

January 17, 2018

JLL Brokers Sale of 333,975 SF Shopping Center in Oxford, Alabama

OXFORD, ALA. — JLL has arranged the sale of Oxford Exchange, a 333,975-square-foot shopping center in Oxford. Margaret Caldwell and Margaret Jones of JLL arranged the transaction. Other terms of the deal were not disclosed. The property is located along Interstate 20, less than a mile from Choccolocco Park, a recently opened sports complex. At the time of sale, Oxford Exchange was 99 percent leased to tenants such as T.J. Maxx, Hobby Lobby, Dick’s Sporting Goods, Ross Dress for Less, Bed..

January 12, 2018

Topgolf Opens at $350M Mixed-Use Redevelopment in Huntsville

HUNTSVILLE, ALA. — Topgolf has opened at MidCity, a $350 million mixed-use redevelopment under construction at the intersection of University Drive and Research Park Boulevard in Huntsville. The global sports entertainment company is the first tenant to open at the 140-acre project — a redevelopment of the former Madison Square Mall. Alabama-based RCP Cos. is developing the project. The 53,000-square-foot, three-level Topgolf facility features 72 climate-controlled hitting bays that can..

January 9, 2018

Cushman & Wakefield Brokers $37M Sale of Apartment Community in Northern Alabama

MADISON, ALA. — Cushman & Wakefield has arranged the $37 million sale of Madison Park, a 308-unit apartment community in Madison, a city in northern Alabama. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, WCDM Development, in the transaction. Hayden Properties acquired the property. Constructed in 2008, Madison Park includes one- to three-bedroom units, and features a fitness center, on-site storage units, picnic area, pool, business center, package service..

January 8, 2018

InvenTrust Sells Shopping Center in Dothan, Alabama for $33.8M

DOTHAN, ALA. — InvenTrust Properties Inc. has sold Dothan Pavilion, a 327,423-square-foot shopping center located at 4601 Montgomery Highway in Dothan, for $33.8 million. Dothan Pavilion Group LLC acquired the asset, and Jim Hamilton, Richard Reid and Barry Brown of HFF arranged the transaction on behalf of InvenTrust. At the time of sale, Dothan Pavilion was 89 percent leased to tenants including Bed Bath & Beyond, Barnes & Noble, Carmike Cinemas AMC Theatres, Michaels, Ross Dress..

January 4, 2018