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Southeast

Boulder Group Negotiates $1.2M Sale of Dollar General in Grand Cane, La.

GRAND CANE, LA. — The Boulder Group has completed the sale of a 9,014-square-foot Dollar General located at 8212 Highway 171 in Grand Cane, a town about 35 miles south of Shreveport. Jimmy Goodman and Randy Blankstein of The Boulder Group represented the seller, a Louisiana-based developer, in the transaction. The buyer, a Southwest-based private partnership, purchased the triple net leased property for approximately $1.2 million.

March 23, 2017

Winter Construction Breaks Ground on $70M Marriott Hotel in Midtown Atlanta

ATLANTA — Winter Construction has broken ground on a 266,000-square-foot hotel by Marriott, located on 14th Street near the intersection of Peachtree Street in Atlanta’s Midtown neighborhood. The hotel will be dual branded as AC Hotel, which will comprise 133 rooms, and Moxy Hotel, which will offer 155 rooms. The hotels will share several levels of parking and a rooftop pool and bar. Cooper Carry Inc. designed the $70 million project; Noble Investment Group is the developer.

March 22, 2017

Beasley Negotiates $14.9M Sale of 775,864 SF Industrial Park in Greater Orlando

WINTER HAVEN, FLA. — Beasley Real Estate Services has completed the sale of Central Florida Business Park, a 775,864-square-foot industrial property located at 5300 Recker Highway in the Orlando suburb of Winter Haven. Situated on 52 acres, the property spans nine buildings ranging in size from 2,400 square feet to 297,000 square feet. Fred Beasley of Beasley Real Estate represented the seller, Legacy Capital Partners, a private equity investor based in Boulder, Colo., in the transaction...

March 22, 2017

Eastern Equity Arranges $12M in Acquisition Equity for 320-Unit Community in Metro D.C.

GREENBELT, MD. — Eastern Equity Advisors has arranged $12 million in equity on behalf of Blue Ocean Realty, a Maryland-based management company, for the acquisition of The Hanover Apartments, with securities offered through Palladium Capital Advisors. Located at 7232 Hanover Parkway in Greenbelt, Md., a northeastern suburb of Washington, D.C., the garden-style property has 320 units. Marc Belsky of Eastern Equity arranged the equity. Meridian Capital sourced an undisclosed amount of..

March 22, 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

MCR Completes Renovation of Hampton Inn by Hilton in Dunn, N.C.

DUNN, N.C. — MCR Development LLC, a hotel owner-operator, has completed renovation of the Hampton Inn by Hilton Dunn, a 120-room, select-service hotel located along the I-95 corridor in Dunn, approximately 40 miles south of Raleigh. The renovations included new landscaping, the addition of LED lighting to the exterior, a fresh painting and with new beds and furniture.

March 22, 2017

The Scharf Group, Besyata Investment Group Acquire Multifamily Portfolio in the Southeast for $74M

LOUISVILLE, KY., AND LITHONIA, GA. — The Scharf Group and Besyata Investment Group have acquired a two-property multifamily portfolio in the Southeast for $74 million. The portfolio boasts a total of 1,033 units. Properties included in the portfolio include the 689-unit Park at Hurstbourne in Louisville and the 344-unit Woodcrest Village in Lithonia. Park at Hurstbourne is a garden-style apartment complex situated on 44 acres at 5555 Big Ben Drive. It was built in 1972. Community..

March 22, 2017

InterFace Carolinas, June 1 in Charlotte

Southeast Real Estate Business and Shopping Center Business magazines along with France Media's InterFace Conference Group will host the 8th annual InterFace Carolinas conference on June 1st at the Hilton Charlotte Center City. Last year's event attracted nearly 300 attendees and InterFace expects an even larger crowd of office, industrial, multifamily and retail property owners, investors, developers, brokers and lenders this year. The conference will feature a keynote address by top..

March 21, 2017

Mesa West Provides $88.3M Loan to Refinance Apartment High-Rise in Nashville

NASHVILLE, TENN. — Mesa West Capital has provided Magellan Development Group $88.3 million in first mortgage debt for the refinancing for The SoBro, a 313-unit, Class A apartment complex in downtown Nashville. Magellan, which is headquartered in Chicago, owns the 33-story building located at 205 Demonbreun St. The SoBro was completed in 2016 and consists of one-, two- and three-bedroom apartments. The building was 25 percent leased at the time of the loan closing.

March 21, 2017

CBRE Brokers Sale of 13-Building Portfolio in Greater Charlotte Area

CHARLOTTE, N.C. — CBRE has arranged the sale of the Charlotte Industrial Park Portfolio, a 13-property asset totaling 486,512 square feet of Class A office and warehouse space throughout the Charlotte area. Patrick Gildea, Anne Johnson and Bryan Crutcher of CBRE represented the seller, Maryland-based Artemis Real Estate Partners, in the transaction. At the time of sale, the Charlotte Industrial Park Portfolio was 95 percent occupied. Boston-based Albany Road Real Estate purchased the..

March 21, 2017