REBusinessOnline

Southeast Dominates ULI, PwC’s Markets to Watch in 2019

BOSTON — In their annual Emerging Trends in Real Estate report, Urban Land Institute (ULI) and Pricewaterhouse Coopers (PwC) have emphasized their bullishness on the Southeast. Following the top two metros in the report’s "Markets to Watch in 2019" list (Dallas-Fort Worth and Brooklyn) are three Southeastern markets: Raleigh-Durham, Orlando and Nashville, none of which qualify as traditional gateway cities. “Survey respondents favored markets with potential for more growth over the …

Atlanta’s Shopping Centers Reflect Changing Consumer Preferences

Atlanta is recognizing that the nature of retail has changed. Shopping centers and mixed-use projects in Atlanta emphasize restaurants, fitness, entertainment and service retail. The changes in the market are happening quickly and consumers want the urban environment where everything they need is at their fingertips. Destination Retail The BeltLine is providing an unmatched opportunity for this business model. The Eastside trail proves that Atlanta has welcomed this type of retail. New …

New York Life Real Estate Investors Buys Brickell City Tower in Miami for $117M

MIAMI — New York Life Real Estate Investors, on behalf of an institutional client, has acquired Brickell City Tower, a Class A office tower located in Miami’s Brickell office submarket, for $117 million. The buyer was not disclosed but media outlets have reported that the seller was a joint venture between Banyan Street Capital, Crocker Partners and Independencia Asset Management. The 33-story tower features 291,554 rentable square feet. Recently, the tower underwent a $6.4 million …

HFF Arranges $90M Sale of New Multifamily Property in Northern Virginia

ARLINGTON, VA. — HFF has arranged the sale of 672 Flats, a newly completed multifamily community located in Arlington’s Ballston submarket. The Chevy Chase Land Co. acquired the property from a joint venture between The Penrose Group and Clark Enterprises for $90 million. Walter Coker and Brian Crivella of HFF represented the seller in the deal. The buyer purchased the property free and clear of existing debt. Jamie Leachman, Chris Hew and Nicole Brickhouse of HFF’s debt placement …

Hunt Provides $18.3M Fannie Mae Loan for Acquisition of Charlotte Multifamily Property

CHARLOTTE, N.C. — Hunt Real Estate Capital has provided a $18.3 million Fannie Mae multifamily loan for the purchase of Fields at Archdale Station, a multifamily property located at 6614 Wisteria Drive in Charlotte. The borrower, Roseland, N.J.-based Gellar Associates, acquired the property from Elite Street Capital Grand Oaks Equity LP. The new loan has a 12-year term. Built from 1968 to 1975, Fields at Archdale Station features 243 apartments spread across 26 three-story apartment …

Berkeley Partners Acquires Three-Building Industrial Portfolio in Broward County for $15M

POMPANO BEACH, FLA. — Berkeley Partners, an industrial real estate operator and investment manager, has purchased three buildings within Park Central Business Park, an industrial campus located in Pompano Beach. An undisclosed seller sold the portfolio in Broward County for $15 million. Douglas Mande of Institutional Property Advisors and Tyler Kuhlman of Marcus & Millichap represented the seller and advised the buyer in the transaction. This transaction is Berkeley’s third acquisition …

DIX Sells 53-Acre Mixed-Use Development Site in Ormond Beach, Florida

ORMOND BEACH, FLA. — Lake Mary, Fla.-based DIX Developments has completed the sale of Halifax Town Center, a mixed-use development site located in Ormond Beach. Dixie 95 OBD, a company related to O2G Capital of Ontario, Canada, purchased the 53-acre site for an undisclosed price. Situated in the southeast quadrant of Interstate 95 and Old Dixie Highway, the fully developed site is ready for immediate construction with storm water retention, surfaced roadways and utilities. Halifax Town …

Cortland Acquires 531-Unit Multifamily Community at The Battery Atlanta for $156M

ATLANTA — Cortland has acquired Home at The Battery Atlanta, a 531-unit multifamily community, from a joint venture between Braves Development Co. (BDC) and Pollack Shores for $156 million. Walker & Dunlop brokered the transaction. The three-building property — to be renamed Cortland at the Battery Atlanta — offers 328 one-bedroom units, 195 two-bedroom units and eight three-bedroom units. The apartments were 92 percent occupied at the time of sale. Each building offers a range …

AvalonBay Buys Apartment Community in Metro D.C. for $83M

LINTHICUM HEIGHTS, MD. — AvalonBay Communities has purchased Alexan Concorde, a multifamily property located at 811 Concorde Circle in Linthicum Heights, about 34 miles northeast of Washington, D.C. A joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group sold the asset for $83 million. Situated adjacent to Baltimore-Washington International Airport and less than one mile from the Baltimore-Washington Parkway, the property features 310 luxury …

Preiss Opens 425-Bed Student Housing Community Near East Carolina University

GREENVILLE, N.C. — The Preiss Co. has opened The Eastern on 10th, a 425-bed student housing community located near East Carolina University (ECU) at 2301 E. 10th St. in downtown Greenville. The ground-up, garden-style development offers studio, one-, two- and three-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, an outdoor lounge with cabanas, grilling and picnic stations, a 24-hour clubhouse and fitness center, private study rooms, a cybercafé, …

subscribe


Content Partners Alliant Credit Union


Conferences