Property Type

Monument Capital Management Buys Brookwood Apartments in Tucson for $13M

by Nellie Day May 16, 2017

TUCSON, ARIZ. — Monument Capital Management has acquired the 272-unit Brookwood Apartments in Tucson for $13 million. The community is located at 201 S. Kolb Road. Common-area amenities include a courtyard, pool, spa, game room, dog park, laundry facilities and barbecue area. Brookwood Apartments features one- and two-bedroom, garden-style homes with eat-in kitchens, walk-in closets and private patios or balconies. Monument Capital Management plans to implement value-add upgrades throughout the property to improve the units’ interiors, including washer/dryer connections, black appliances, refinished countertops, faux wood flooring, brushed nickel light and plumbing fixtures.

May 16, 2017

Retail Washington Western

Goop, Nordstrom Launch Pop-Up Retail Concept

by Nellie Day May 16, 2017

SEATTLE — goop, a modern lifestyle brand founded by Gwyneth Paltrow, is partnering with Nordstrom to bring goop to Pop-In@Nordstrom in select stores across the country and online. goop-In@Nordstrom features a mix of wellness-focused products curated by the goop team, including apparel, accessories, beauty and home. Each shop is designed as an enclosed living space, with furniture and design by 1stDibs and custom Chinoiserie wallcoverings by Fromental. Pop-In@Nordstrom is the retailer’s ongoing series of themed pop-up shops at the retailer’s highest profile stores. Each shop transitions every four to six weeks to a new design. goop-In@Nordstrom is in the following Nordstrom store locations and online from May 12 to June 25: • Downtown Seattle, Seattle • Bellevue Square, Bellevue, Wash. • The Grove, Los Angeles • South Coast Plaza, Costa Mesa, Calif. Nordstrom, Inc. is a fashion specialty retailer based in the United States. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 354 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 221 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores.

May 16, 2017

California Restaurant Retail Western

Cheesecake Factory CFO to Retire

by Nellie Day May 16, 2017

CALABASAS HILLS, CALIF. — The Cheesecake Factory Inc.’s executive vice president and chief financial officer, W. Douglas Benn, will retire from the company on July 7. He will be succeeded by Matthew Clark, who brings over 11 years of experience with the company, most recently serving as senior vice president, finance and strategy. In his current role, Clark has overseen the strategy, planning, treasury and risk management functions at The Cheesecake Factory. He also supported investor relations as well as corporate governance during his tenure, and most recently led the company’s minority investment in two external, high-growth restaurant brands. Earlier in his career, he held a number of finance positions of increasing responsibility at Groupe Danone, Kinko’s and The Walt Disney Company. Benn is a veteran of the restaurant industry having spent more than 25 years in management roles with restaurant companies. He joined The Cheesecake Factory as CFO in 2009 and helped grow the company to over $2 billion in annual revenues while adjusted earnings per share more than tripled. Benn also contributed to the achievement of several milestones, including the company’s international expansion. Prior to joining The Cheesecake Factory, he served as executive vice president and CFO of …

May 16, 2017

Florida Mixed-Use Multifamily Southeast

Lojeta Group Unveils Plans for $70M Multifamily Community, $10M Renovation of Weston Hills Country Club

by John Nelson May 16, 2017

WESTON, FLA. — Weston Hills Resort Group LLC, an affiliate of Hollywood, Fla.-based Lojeta Group, has unveiled plans to redevelop Weston Hills Country Club in Weston. The organization has submitted an application to develop a $70 million apartment community at the resort called the Lodge at Weston Hills. The five-story, 274-unit property would comprise all one- and two-bedroom residences. The City of Weston will review the development team’s application and site plan in the coming months. Weston Hills Resort Group LLC also has a contract to purchase the club and invest more than $10 million in improvements, including upgrades to the resort’s two golf courses and clubhouse facility. The renovation will also include building a resort-style swimming pool, poolside bar and restaurant, five new tennis courts, two pickle ball courts, a fitness center and a kids play area. A team led by Fort Lauderdale-based Adache Group is working on the design for the new improvements and additions, and golf course architect Tom Fazio II is consulting on the golf course improvements.

May 16, 2017

Hospitality Multifamily Southeast Tennessee

Commercial & Investment Properties Opens $28M Hotel, Condo Property in Downtown Knoxville

by John Nelson May 16, 2017

KNOXVILLE, TENN. — Commercial & Investment Properties has opened The Tennessean Personal Luxury Hotel & Residences, a $28 million hotel and condominium development located at 531 Henley St. in downtown Knoxville. The property features 82 hotel rooms and 12 condominiums, as well as amenities for guests and owners including a fitness center, valet parking, room service and the Drawing Room lounge. McCarty Holsaple McCarty designed The Tennessean, which is situated near Market Square, World’s Fair Park and the University of Tennessee.

May 16, 2017

Georgia Industrial Southeast

John Hancock, CRG to Develop 1 MSF Distribution Center in South Atlanta

by John Nelson May 16, 2017

LOCUST GROVE, GA. — John Hancock Real Estate and CRG are teaming up to develop a 1 million-square-foot industrial building located in Locust Grove, roughly 30 miles south of Atlanta in the city’s South Atlanta industrial submarket. The facility will feature 36-foot clear heights, 236 trailer spaces, 148 dock-high doors and 386 parking spaces. CRG’s parent company Clayco will serve as the design-builder, and its subsidiary Forum Studio is the architect on the project. Situated a half mile from the Interstate 75-Bill Garner Parkway interchange, the facility will be the first component of a 311-acre development that can accommodate 4.5 million square feet of industrial space. The development team expects the building to be available for occupancy in early 2018.

May 16, 2017

Florida Multifamily Southeast

Berkadia Arranges $25.5M Sale of Apartment Community on Florida’s East Coast

by John Nelson May 16, 2017

PALM COAST, FLA. — Berkadia has arranged the $25.5 million sale of Pine Lake Apartments, a 184-unit multifamily community located at 121 Pine Lakes Parkway North in Palm Coast, a city on Florida’s east coast about 25 miles south of St. Augustine. Built in 2005, the property features one-, two- and three-bedroom floor plans. Community amenities include a resort-style pool, poolside fire pit, hammock lounge, grilling areas, a fitness center, detached garages and a dog park. Pine Lake Apartments is adjacent to the Indian Trails Sports Complex and roughly five miles from the Atlantic Ocean. Cole Whitaker, Mary Beale, Jason Stanton and Greg Rainey of Berkadia represented the seller, Massachusetts-based Palm Coast Waterchase LLC, in the transaction. The buyer was Missouri-based Pine Lake Acquisitions LLC.

May 16, 2017

Georgia Loans Office Southeast

SunTrust Provides $13.7M Loan to TPA Group for Crawford & Co.’s New Headquarters in Metro Atlanta

by John Nelson May 16, 2017

PEACHTREE CORNERS, GA. — SunTrust Commercial Real Estate, a division of SunTrust Banks Inc., has provided a $13.7 million loan to TPA Group for Crawford & Co.’s new global headquarters. TPA Group will use the loan to refinance and proceed with the renovation of the existing building at 5335 Triangle Parkway in Peachtree Corners, a Gwinnett County suburb of Atlanta. Crawford & Co., an independent claims management firm, expects to move its 500 employees from its existing office in Atlanta’s Central Perimeter submarket in November. SunTrust Commercial Real Estate was the sole lender for the new facility.

May 16, 2017

Healthcare Midwest Ohio

Bull Realty Brokers $3.3M Sale of Medical Facility in Columbus, Ohio

by Kristin Harlow May 16, 2017

COLUMBUS, OHIO — Bull Realty has brokered the sale of a BIOMAT specialty medical facility in Columbus for $3.3 million. The 14,957-square-foot property is a plasma collection facility, one of over 200 collection facilities in 32 states owned by parent company Grifolis. The single-tenant, net-leased property is situated on 3.4 acres. BIOMAT has nine years remaining on the triple-net lease. Michael Bull and Nancy Miller of Atlanta-based Bull Realty represented the buyer, Apple Ridge/Cherry Ridge LLC, which purchased the property as part of a 1031 exchange. Brian Smith of Marcus & Millichap represented the seller, White Owl LLC.

May 16, 2017

Illinois Midwest Mixed-Use

Baum Arranges Sale of 16,180 SF Mixed-Use Building in Chicago

by Kristin Harlow May 16, 2017

CHICAGO — Baum Realty Group LLC has arranged the sale of a 16,180-square-foot mixed-use building located at 6-8 S. Clark St. in Chicago. The sales price was not disclosed. The first floor of the building was previously occupied by a Wendy’s restaurant while the other three floors have been vacant in recent years. Greg Dietz and Danny Spitz of Baum represented the undisclosed seller. An out-of-state investor purchased the property.

May 16, 2017

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