REBusinessOnline

Woodbine Legacy Investments Completes $20M Renovation of W Atlanta-Buckhead Hotel

ATLANTA — Woodbine Legacy Investments (WLI) has completed a $20 million renovation of W Atlanta-Buckhead, a 12-story, 291-room hotel in Atlanta’s Buckhead district. The renovation began in May 2018. Guest accommodations — 286 guest rooms, four WOW Suites and one EWOW Suite — were enhanced with new headboards, armoires, damask wallcoverings and carpeting, 55-inch TVs, in-room Nespresso machines, beverage bar and artwork throughout. Communal renovations included new furnishings, an …

Continental Realty Acquires Shopping Center in Metro Baltimore for $16.2M

GLEN BURNIE, MD. — Continental Realty Corp. has acquired Governors Commons, a 129,242-square-foot shopping center in Glen Burnie, for $16.2 million. Governors Commons was fully leased at the time of sale to tenants including Gavigan’s Furniture, Pep Boys, Sake Japanese Steakhouse, Goodwill Industries and Dollar Tree. The property is located at 7311 Ritchie Highway, nine miles south of downtown Baltimore. Mathew Adler, Geoffrey Millerd and Chris Huesgen of Newmark Knight Frank (NKF) arranged …

Lotte Chemical, Westlake Chemical Open $3.1B Plant in Lake Charles, Louisiana

LAKE CHARLES, LA. — A joint venture between Lotte Chemical USA (KRX: KRW) and Westlake Chemical Corp. (NYSE: WLK) has opened a new chemical plant in Lake Charles, located in the southwest corner of Louisiana near the Texas border. Development costs for the 250-acre campus were estimated at $3.1 billion. The chemical plant produces monoethylene glycol — commonly called MEG — an important ingredient in the making of paper, textile fibers, latex paints, asphalt, resins, antifreeze, …

HFF Arranges $42.3M CMBS Acquisition Loan for Hotel in Fort Lauderdale

FORT LAUDERDALE, FLA. — HFF has arranged a $42.3 million acquisition loan for the Renaissance Fort Lauderdale Cruise Port Hotel in Fort Lauderdale. A joint venture led by DoveHill Capital Management acquired the 236-room hotel, which opened in 2001 and has been updated throughout the years, most recently in 2016. An undisclosed CMBS lender provided the 10-year, fixed-rate loan, which is structured as interest-only for the full term. Hotel amenities include 12,838 square feet of meeting and …

Joint Venture Sells Adjacent South Florida Office Campuses for $33M

NAPLES, FLA. — A joint venture between Creekside West Inc., GC Partnership Ltd. and FoxRock Newgate 5150 Realty LLC has sold Newgate Center and Park North, a pair of adjacent office campuses in Naples. Newgate Center is a three-building, 80,000-square-foot office campus situated at 5200 Tamiami Trail N., and Park North is a two-building, 19,450-square-foot office property situated at 5125 Castello Drive. David Stevens of Investment Properties Corp. represented the sellers in the transaction. …

Halvorsen Holdings to Develop Publix-Anchored Shopping Center Near Savannah

BLUFFTON, S.C. — Boca Raton, Fla.-based Halvorsen Holdings is planning to develop May River Crossing, a 70,200-square-foot, Publix-anchored shopping center in Bluffton, 16 miles north of downtown Savannah and 16 miles west of Hilton Head Island. May River Crossing will be situated on 15 acres on the northeast corner of Okatie Highway and May River Road. Publix will occupy 48,000 square feet and will feature a drive-thru pharmacy. There is 21,845 square feet of available space. May River …

Coworking Firm Signs 28,900 SF Office Lease Within Downtown Greenville’s Camperdown Development

GREENVILLE, S.C. — Coworking firm Spaces has signed an office lease to occupy the bottom two floors of Falls Tower in downtown Greenville. Falls Tower is a 184,000-square-foot office building under construction at 423 S. Main St. as part of Centennial American Properties’ Camperdown development. This marks Spaces’ first location in South Carolina. It will occupy 28,900 square feet, business solutions firm Elliott Davis will occupy 65,000 square feet and Bank of America will occupy 32,000 …

Alpha Capital Acquires 342-Bed Student Housing Community Near University of Louisiana at Lafayette

LAFAYETTE, LA. — Alpha Capital Partners has acquired University Place, a 342-bed student housing community located near the University of Louisiana at Lafayette. The acquisition is the second of five identified projects in the company’s Opportunity Zone Fund, which was launched last October in an effort to take part in the opportunity zone program implemented by the Tax Cuts and Jobs Act of 2017. University Place offers access to campus through a private pedestrian bridge, alongside shared …

John Portman & Associates Unveils Plans for 20-Story Office Tower in Midtown Atlanta

ATLANTA — John Portman & Associates has unveiled plans for 712 West Peachtree, a 578,851-square-foot office tower in Midtown Atlanta. The tower will stand 20 stories high and include one story below ground. The total rentable office space will span 309,465 square feet from the eighth to 20th floor. The building will also include 8,761 square feet of retail space, 516 parking spaces and an outdoor terrace on the eighth floor. Developed by Portman Holdings LLC, an affiliate of the …

Cushman & Wakefield Arranges $57M Construction Loan for Multifamily Project in Metro D.C.

RIVERDALE PARK, MD. — Cushman & Wakefield has arranged a $57 million construction loan for the development of The Residences at Riverdale Park Station in Riverdale Park. The Residences will stand five stories, offer 229 residential units, 8,000 square feet of amenity space, 10,000 square feet of retail space and 750 parking spaces. The Residences will be situated at 4650 Van Buren St. within Riverdale Park Station, a 36-acre master-planned community that will contain 119 townhouses, 850 …

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