CHARLOTTE, N.C. — Novare Group and Batson-Cook Development Co. (BCDC) will open its second SkyHouse property in Uptown Charlotte, SkyHouse Uptown South Tower, tomorrow. The 24-story apartment tower sits adjacent to the first tower, and combined, the two nearly identical buildings total 672 studio, one-, two- and three-bedroom units. Amenities include the signature SkyHouse on the top floor, complete with a clubhouse, fitness facilities, swimming pool and an outdoor kitchen all with..
RALEIGH, N.C. — Electra America has acquired The Flats on 401, a 300-unit apartment community located at 5721 Goodstone Drive in Raleigh. HFF’s Jeff Glenn, Justin Good and Allan Lynch brokered the transaction on behalf of the seller, a local partnership. The sales price was not disclosed, but the Triangle Business Journal reports that the asset sold for $41.6 million. Constructed in 2015, the property will be rebranded as Level at 401 with approximately $1.5 million dedicated to renovations..
CONCORD, N.C. — Griffin Industrial Realty has purchased a 277,000-square-foot industrial warehouse near Charlotte for $18.6 million. The property is located at 215 International Drive in Concord. The purchase was paid in cash at closing using approximately $9.7 million of cash held in escrow as part of a 1031 exchange, and $8.9 million of Griffin’s cash on hand. Chris Riley of CBRE represented the sellers, Trinity Capital Advisors and Crow Holdings, and Trinity Partners’ William Maxwell..
CHARLOTTE, N.C. — Arden Group has purchased the BB&T Center, a 22-story, 567,835-square-foot office tower located on 200 S. College St. in uptown Charlotte. The Philadelphia-based investment firm purchased the property through its discretionary fund affiliate, Arden Real Estate Partners II LP, for $148.5 million, according to The Charlotte Observer. HFF brokered the transaction, and Starwood Property Trust Inc. provided acquisition financing. Arden plans to invest $10 million in capital..
WINSTON-SALEM, N.C. — Laurel Street has completed 757 North, a 115-unit apartment community located at 757 N. Chestnut St. in Winston-Salem. The four-story property features one- and two-bedroom units with rents ranging from $1,095 to $1,600 per month. Of those units, 25 percent will be reserved for households with incomes at 80 percent of the area median income, with rents ranging from $740 to $850 per month. Developed in partnership with Goler Community Development Corp., a nonprofit..
HUNTERSVILLE, N.C. — MPV Properties and Bowman Development Group have partnered to develop Vermillion Village, a 30-acre mixed-use development in downtown Huntersville, roughly 15 miles north of Charlotte. Situated off Interstate 77 at North Church Street and Huntersville-Concord Road, the project will feature a 78,000-square-foot supermarket, 18,000 square feet of additional retail shops and 400 residential units. MPV will handle the development of Vermillion Village’s commercial portion,..
FAYETTEVILLE, N.C. — RealtyLink LLC plans to deliver the $80 million Freedom Town Center located at Skibo and Cliffdale roads in Fayetteville. The 50-acre, 385,000-square-foot retail project will house tenants such as Field & Stream, HomeGoods, Hobby Lobby, Dick’s Sporting Goods, Petco, Sprouts Farmers Market, Burke’s Outlet, DSW, buybuy Baby and World Market. Greenville, S.C.-based RealtyLink expects to start opening stores in the fall with full completion set for 2018. First Tennessee..
ASHEVILLE, N.C. — CBRE has arranged the $28.3 million sale of Pack Square, a 137,592-square-foot mixed-use development located in Asheville’s historic district. Wicker Park Capital Management purchased the five-building project from Southeastern Development. Pack Square was 82.4 percent leased at the time of sale to tenants such as Rhubarb, Posana Café, Bomba!, Novus Architects, French Broad Chocolate Lounge and Edgewater Media Group Inc. Patrick Gildea, Mike Burkard, Steve Shields and..
CHARLOTTE, N.C. — Carey Watermark Investors 2 Inc. (CWI 2) has purchased Charlotte Marriott City Center, a 19-story, 446-room hotel located in Uptown Charlotte. The sales price and seller were not disclosed, but Charlotte Business Journal reports that Marriott Hotel Services Inc. sold the hotel to CWI 2 for $152.2 million. The hotel underwent more than $40 million of capital improvements in 2016, including the addition of eight guest rooms, five food and beverage outlets and a fitness center,..
RALEIGH AND DURHAM, N.C. — Medalist Capital has arranged $71 million in financing for two apartment communities in Raleigh and Durham. The properties include the 203-unit Gramercy in downtown Raleigh and the 229-unit Solis Ninth in downtown Durham. Howard Brooks of Medalist Capital’s Raleigh office arranged the two separate loans through a life insurance company on behalf of the undisclosed borrowers.