REBusinessOnline

Cushman & Wakefield Arranges $48.8M Acquisition Loan for Two Office Buildings in Nashville’s Cool Springs District

FRANKLIN, TENN. — Cushman & Wakefield has arranged a $48.8 million acquisition loan for Corporate Centre 8 and 9, two office buildings located at 6640 and 6550 Carothers Parkway in Franklin, roughly 14 miles from downtown Nashville. Michael Ryan, Brian Linnihan and Richard Henry of Cushman & Wakefield arranged the three-year, floating-rate loan with two one-year extension options on behalf of the borrower, KBS Capital Advisors. JPMorgan Chase Bank Strategic Property Fund sold the …

HFF Secures $18.2M Loan for Refinancing of Office Portfolio in Columbia

COLUMBIA, S.C. — HFF has secured an $18.2 million loan for the refinancing of Fontaine Business Park, a four-building office portfolio totaling 253,038 square feet in Columbia. Jamie Leachman, Cory Fowler and Drake Greer of HFF arranged the five-year, floating-rate loan through Bridge Investment Group on behalf of the borrower, Diversified Real Estate Ventures. Fontaine Business Park has historically been around 90 percent leased due to demand from state and local government

STCC Provides $11.2M Financing for Two Seniors Housing, Retail Redevelopment Projects in Richmond

RICHMOND, VA. — SunTrust Community Capital (STCC) has provided $11.2 million in financing for two redevelopment projects in Richmond’s historic Jackson Ward neighborhood. The Community Preservation and Development Corp. (CPDC) is leading the redevelopments, which will replace current public housing with new workforce housing, seniors housing and retail. The first project, dubbed Jackson Ward, will include 72 newly constructed, one-bedroom seniors housing units in a four-story building. The …

Bull Realty Brokers $10.4M Sale of Medical Office Building in Knoxville

KNOXVILLE, TENN. — Bull Realty has brokered the $10.4 million sale of a medical office building in Knoxville. The property is fully leased to Knoxville Dermatology Group, which has been in the Knoxville market for more than 40 years. Michael Bull and Paul Zerman of Bull Realty arranged the transaction on behalf of the seller, Dermatology Investment Group LLC. The name of the buyer was not

Waypoint Residential Acquires 576-Bed Student Housing Community Near UNC Charlotte

CHARLOTTE, N.C. — Waypoint Residential LLC has acquired 901 Place, a 576-bed student housing community located less than two miles from the University of North Carolina (UNC) at Charlotte. The name of the seller and sales price were not disclosed. Constructed in 2000, the garden-style community features a clubhouse, computer room, game room, swimming pool, fitness center, yoga studio, sand volleyball courts, tennis courts and basketball courts. Waypoint plans to invest $3 million in property …

Five Below to Open $70M Distribution Center in Georgia’s Monroe County

FORSYTH, GA. — Discount retailer Five Below will invest $70 million to build a new distribution center in Monroe County, roughly 60 miles southeast of Atlanta. According to local media reports, the facility will be located within Meridian 75 Logistics Center, a 186-acre master-planned business park in Forsyth. The new building will create 130 new jobs. The initial investment includes $42 million in land and building, and approximately $28 million in machinery and equipment. Additional …

HFF Brokers $68.8M Sale of Retail Portfolio in Miami Beach

MIAMI BEACH, FLA. — HFF has arranged the sale of a seven-property retail portfolio located in Miami Beach’s Sunset Harbour neighborhood. Manny de Zárraga, Luis Castillo and Daniel Finkle of HFF arranged the transaction on behalf of the seller, Scott Robins Cos. Charlotte-based Asana Partners acquired the assets for $68.8 million, according to the Miami Herald. The portfolio includes single- and multi-tenant properties located at 1900, 1916 and 1930 Bay Road; 1787, 1929 and 1919 Purdy …

Ocean Bank Provides $60M Loan for Refinancing of Shopping Center in Miami

MIAMI — Ocean Bank has provided a $60 million loan for the refinancing of Kendall Village, a 256,000-square-foot shopping center located at the intersection of Kendall Drive and S.W. 124th Avenue in Miami. Ocean Bank provided the loan on behalf of the borrower, Kendall Village Associates LLC. The center is fully leased to tenants such as Regal Cinema, Old Navy, Gap, Chuck E. Cheese, Jared Jewelry, Pier 1 Imports and Duffy’s Sports Grill. Kendall Village was constructed in 2000 and renovated …

SunCap to Develop 213,200 SF Industrial Building in Upstate South Carolina

SPARTANBURG, S.C. — SunCap Property Group has acquired 18 acres on Tyger Lake Road in Spartanburg, with plans to develop a 213,200-square-foot industrial building. Dubbed Spartan Exchange, the Class A facility will feature 32-foot clear heights, 22 dock doors, two drive-in doors and trailer parking. The building will be divisible to 54,080 square feet to accommodate a range of tenant sizes. Garrett Scott, John Montgomery and Brockton Hall of Colliers International represented SunCap in the …

Cushman & Wakefield Arranges $18.3M Sale of Multifamily Community in Knoxville

KNOXVILLE, TENN. — Cushman & Wakefield has brokered the $18.3 million sale of Evergreen at the Bluffs, a 161-unit apartment community in Knoxville. Robbie O’Bryan, Nelson Abels and Brad Boston of Cushman & Wakefield represented the seller, Evergreen Residential, in the transaction. Hudson Capital Investments acquired the property. Constructed in 2009, Evergreen at the Bluffs features a business center, clubhouse, fitness center, pool and storage

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