North Carolina

SRS Real Estate Partners Brokers $8.4M Sale of Shopping Center in Charlotte

by John Nelson January 11, 2017

CHARLOTTE, N.C. — SRS Real Estate Partners’ Atlanta office has brokered the $8.4 million sale of Pineville Towne Market, a 83,526-square-foot shopping center located at 321 S. Polk St. in Charlotte. Situated on 8.7 acres at the intersection of Main and South Polk streets, the shopping center is anchored by Food Lion. F and L Meadow Creek LLC, a 1031 exchange buyer, purchased the property from LARC Asset Management and Realty Inc. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, while Adam Russ of Berkeley Capital Advisors represented the buyer in the transaction.

January 11, 2017

Multifamily North Carolina South Carolina Southeast

Greystone Arranges $33M Sale of Two Brookdale Senior Communities in the Carolinas

by John Nelson January 6, 2017

HENDERSONVILLE, N.C. AND SPARTANBURG, S.C. — Greystone Real Estate Advisors has closed the sale of Brookdale Hendersonville in North Carolina and Brookdale Skylyn in South Carolina. A private equity group purchased both properties from Brookdale Senior Living Inc., the largest owner and operator of seniors housing communities in the United States, for $33 million. Brookdale Hendersonville, located in the Asheville suburb of Hendersonville, offers independent living cottages, an independent living clubhouse, an administrative office building and a separate memory care building. Built in 1985 and 1993, the community sits on a total of 21.4 acres of land. Brookdale Skylyn, located in Spartanburg, is an independent living, assisted living, memory care and skilled nursing community. The property consists of two senior living buildings and one skilled nursing building. Built in 1986, the community sits on 17.6 acres of land. Mike Garbers and Cody Tremper of Greystone represented Brookdale Senior Living in the transaction.

January 6, 2017

Florida Multifamily North Carolina Southeast

ARA Newmark Arranges $127M Sale of Multifamily Portfolio in Florida, North Carolina

by John Nelson January 4, 2017

TAMPA, FLA. — ARA Newmark has brokered the $127 million sale of a four-property, 1,153-unit multifamily portfolio in Florida and North Carolina. The properties include the 298-unit ARIUM Bala Sands in Orlando, the 247-unit ARIUM Citrus Park and the 368-unit ARIUM Bay Pointe, both in Tampa, and the 240-unit ARIUM Pineville in Charlotte. The seller, The Carroll Organization, has implemented interior renovations on select units in all four properties. Patrick Dufour, Kevin Judd, John Heimburger, Scott Ramey, Jason Kon, Dick Donnellan, Marc deBaptiste, Dean Smith and Blake Okland of ARA Newmark represented Carroll in the transaction, which was completed in three phases.

January 4, 2017

Loans Multifamily North Carolina Southeast

KeyBank Arranges $42.5M Refinancing of Multifamily Portfolio in Wilmington

by John Nelson December 23, 2016

WILMINGTON, N.C. — KeyBank Real Estate Capital has arranged $42.5 million in Freddie Mac loans for the refinancing of a four-property multifamily portfolio in Wilmington. The assets total 695 units and include Hawthorne at New Centre, Hawthorne Commons, Hawthorne Centre North and Hawthorne Lofts. All four properties were constructed between 1990 and 1998 and were renovated in 2014. Timothy DeWispelaere of KeyBank arranged the financing with a 10-year term, five years of interest-only payments and a 30-year amortization schedule.

December 23, 2016

North Carolina Office Southeast

Petrus Partners Sells Office Building in Raleigh-Durham Area for $23M

by John Nelson December 20, 2016

CARY, N.C. — Petrus Partners Ltd. has sold 400 Regency Forest, a 111,639-square-foot office building situated within Regency Park in Cary, a suburb of Raleigh-Durham. Epic Regency LLC purchased the Class A asset from Petrus Partners for $23 million. Built in 2000 on 8.5 acres, the office building was 96.4 percent leased at the time of sale to tenants such as Caterpillar Inc., Pentair Inc. and Mediant Communications Inc. Scot Humphrey, Ryan Clutter, Justin Good and Chris Norvell of HFF represented Petrus Partners in the sale.

December 20, 2016

Mixed-Use North Carolina Southeast

CBRE | Raleigh Arranges Sale of Mixed-Use Development in Raleigh

by John Nelson December 16, 2016

RALEIGH, N.C. — CBRE | Raleigh has arranged the sale of Marketplace at Lake Boone, a 76,253-square-foot mixed-use development located at the intersection of Lake Boone Trail and Gateway Access Road in Raleigh. The LEED Gold- and Platinum-certified property consists of office and retail space. Tenants at the fully leased center include Ashton Woods, AT Allen Co., Sirius Computer Solutions, Greystone, Saracare, Buffalo Brothers, Guasaca, Bottle Revolution, Traditions Bridal and The Oaks. Ben Kilgore, Jim McMillan, Elliott Brewer, and Leslie Holmes of CBRE | Raleigh represented the seller, Singerman Real Estate Partners, in the disposition of the property to Houston-based Griffin Partners.

December 16, 2016

Multifamily North Carolina Southeast

Greystone Provides $30.9M Construction Loan for Apartment Community in Metro Raleigh

by John Nelson December 14, 2016

APEX, N.C. — Greystone has provided a $30.9 million loan to developer RST Development LLC for the construction of The Flats at Apex 540, a 212-unit apartment community located in Apex, roughly 15 miles west of Raleigh. The project will include 457 surface parking spaces, 72 detached garage parking spaces, a clubhouse, pool, fitness center, business center, deck area with a cabana and outdoor kitchen, car care facility and a dog park. Donny Rosenberg of Greystone originated the FHA-insured loan using HUD’s 2016 MAP Guide standards for a lower Mortgage Insurance Premium (MIP) threshold based on Green and Energy Efficiency Multifamily Housing requirements. To qualify for the program, a real estate project must produce a Statement of Energy Design Intent (SEDI) score of 75 or higher, and The Flats at Apex 540 produces a SEDI energy score of 82. The financing was fast-tracked by HUD’s Atlanta office, saving RST Development at least four months, according to Greystone. RST Development plans to deliver the asset in mid-2018.

December 14, 2016

North Carolina Office Southeast

Vision Ventures to Develop New Office Building in Charlotte’s South End

by John Nelson December 13, 2016

CHARLOTTE, N.C. — Charlotte-based Vision Ventures plans to develop a four-story, 83,000-square-foot office building located at 2100 S. Tryon St. in Charlotte’s historic South End neighborhood. The property will be situated within walking distance of the East/West Boulevard light rail station, Camden Road and the Rail Trail, a four-mile trail that winds through downtown Charlotte. Vision Ventures has selected Tom Fitzgerald of JLL to market and lease the building, which will feature ground-level retail space. BB+M Architecture is the architect for the project.

December 13, 2016

North Carolina Southeast

The Retail Brokers Network Announces 2017 Executive Committee

by John Nelson December 12, 2016

CHARLOTTE, N.C. — The Retail Brokers Networks (RBN), one of the nation’s largest retail real estate networking groups, has announced the formation of a new executive committee to help facilitate the company’s ongoing operations. The committee will be responsible for overseeing the retail, restaurant and investment sales councils, as well as the regional directors. Appointments include: * President — Debbie Currier of Currier Properties in Charlotte, N.C. * President Elect — Chris Abadie of Stirling Properties in Covington, La. * VP Operations — Tom Bruss of Commercial Property Associates in Milwaukee, Wis. * VP Marketing & Communications — Brad Umansky of Progressive Real Estate Partners in Rancho Cucamonga, Calif. * VP Finance — Bryan Holt of Southpace Properties in Birmingham, Ala. * Secretary — Rob Samtman of Equity Retail Brokers in Plymouth Meeting, Pa. * Immediate Past President — Chuck Lanyard of The Goldstein Group in Paramus, N.J. “The RBN network represents over 600 retail specialists across the U.S. who help individuals and companies meet their real estate goals locally and nationally,” said Currier. “Our newly formed executive committee will provide the leadership structure that will help make RBN even more successful as we continue to grow. I’m thrilled to …

December 12, 2016

North Carolina Retail Southeast Virginia

Armada Hoffler Acquires Two Retail Properties in Metro Charlotte, Virginia Beach

by John Nelson December 8, 2016

DAVIDSON, N.C. AND VIRGINIA BEACH, VA. — Armada Hoffler Properties Inc., a publicly traded REIT based in Virginia Beach, has closed on the acquisitions of Renaissance Square, a grocery-anchored retail center located in the greater Charlotte area, and Columbus Village II, a retail and entertainment center adjacent to the Town Center of Virginia Beach. Armada Hoffler acquired Renaissance Square for approximately $17.1 million in cash and Columbus Village II for 2 million shares of common stock. The 80,000-square-foot Renaissance Square is currently 92 percent leased and anchored by a 50,000-square-foot Harris Teeter store with over 11 years remaining on its lease term. Columbus Village II comprises over 92,000 square feet and is 100 percent leased to Bed Bath & Beyond, Regal Cinemas and Schlotzsky’s Deli. Gerald Divaris of Divaris Real Estate Inc. represented both Armada Hoffler and the seller, Capitol Industries, in the Columbus Village II transaction. Armada Hoffler has retained Divaris Real Estate and Divaris Property Management to manage and lease the property. Armada Hoffler acquired Columbus Village I, a 65,000-square-foot retail center, in 2015.

December 8, 2016

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