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.
AUSTIN, TEXAS — Houston-based The Hanover Co. has completed the disposition of Hanover South Lamar, a 340-unit mid-rise apartment community located in downtown Austin. Boston-based General Investment & Development acquired the property, which was 95 percent occupied, for an undisclosed price. Pat Jones of ARA Newmark represented the seller in the deal. The eco-friendly property features 550 rooftop solar panels, a Heritage Tree Grove of preserved and relocated live oak and pecan trees and electric car charging stations. On-site community amenities include a resort-style swimming pool, courtyard with outdoor cooking stations and private cabanas, clubhouse with theater and gaming rooms, private dog park and a fitness center. Apartment units feature gourmet kitchens, granite and quartz countertops, high ceilings, large windows, wood-style flooring and energy-efficient appliances.
HOUSTON — Marcus & Millichap has brokered the sale of an industrial property located at 8934 Gulf Freeway in Houston. A developer acquired the 34,000-square-foot property for an undisclosed price. Derek Hargrove and Matthew Mignerey of Marcus & Millichap represented the seller, a private investor, in the deal.
DALLAS — The Dallas Morning News, owned by A. H. Belo Corp., has signed a 16-year lease to occupy The Statler Library a 90,000-square-foot office property formerly known as the Old Dallas Central Library in downtown Dallas. The media company will relocate from its current 325,000-square-foot headquarters space to the new facility between April and June. The Statler Library offers a more flexible space that will allow the company to build a contemporary digital newsroom with open floor plans, areas for employees to collaborate and a rooftop patio. Centurion American Development Group, owner and developer of The Statler, is revitalizing the long-vacant building. Slated for completion in mid-2017, the property will feature a boutique hotel, residences, restaurants and retail space, in addition to office and meeting spaces. Russ Johnson of Peloton CRE represented the landlord, Commerce Statler Development LLC, while Jeff Ellerman and Phil Puckett of CBRE represented The Dallas Morning News in the deal.
SAN ANTONIO — Stream Realty Partners has arranged the lease of 58,000 square feet of industrial space at Building 5 of Interstate Business Park in San Antonio. Wisenbaker Builder Services Inc., a provider of interior finish solutions, will occupy the space located at 6903 N.E, Loop 410. Ryan Boozer of Stream Realty Partners represented the tenant, while Cavendar & Hill Properties Inc. represented the landlord, Rio Pas Investments, in the deal.
SAN ANTONIO — Dougherty Mortgage has closed a Fannie Mae Supplemental loan for Mayfield Gardens Apartment Homes, a 53-unit multifamily property located in San Antonio. The Dougherty’s Minneapolis office arranged the eight-year loan, which features a 30-year amortization schedule, for the borrower, 737 West Mayfield LLC.
MIAMI — Chicago-based Magellan Development Group has opened Midtown Five, a 400-unit, 24-story apartment tower located at 3201 N.E. 1st Ave. in Miami. The property features studio, one-, two- and three-bedroom units ranging from 540 to 1,500 square feet. Each unit features 9-foot ceilings and floor-to-ceiling windows, as well as quartz countertops, contemporary cabinetry, stainless steel appliances, keyless unit entry, USB ports throughout and smart thermostats. Midtown Five also features more than 50,000 square feet of indoor and outdoor amenity space, including a fitness center, yoga lawn, meditation garden, children’s play area, dog run, resident-only spa, business center, conference rooms and a swimming pool with a sundeck, canopied cabanas and an outdoor Whirlpool spa.
ATLANTA — On behalf of developer New City Properties, general contractor Brasfield & Gorrie is currently constructing 725 Ponce, a 12-story mixed-use tower situated along Ponce de Leon Avenue and the Atlanta BeltLine. The project will feature Class A loft office space situated atop an urban prototype Kroger and a three-level, below-grade parking deck. The project will face the BeltLine and will feature rooftop terraces with views of Historic Fourth Ward Park, Ponce City Market and the downtown Atlanta skyline. A groundbreaking ceremony was held in mid-December that featured Atlanta Mayor Kasim Reed, Atlanta City Council Member Kwanza Hall, Atlanta BeltLine Inc. and other dignitaries.
TAMPA, FLA. — Marcus & Millichap has arranged the $18 million sale of Carrollwood Palms, a 204-unit apartment community located at 4302 Gunn Highway in Tampa’s Carrollwood neighborhood. The previous owner renovated more than half of the units and implemented upgrades to the property’s exterior. Carrollwood Palms comprises one- and two-bedroom units that feature sunrooms and patios. Community amenities include a resort-style swimming pool, fitness center and a tennis court. Nicholas Meoli and Michael Donaldson of Marcus & Millichap’s Tampa office represented the seller and procured the buyer in the transaction.
OCALA, FLA. — RD Management LLC has signed Earth Fare, a specialty grocer that sells natural and organic products, to a 29,618-square-foot lease at its Shady Oaks Shopping Center located at 2401-2499 S.W. 27th Ave. in Ocala. The grocer is expected open its store at the 260,419-square-foot shopping center in the spring, joining other newcomers such as Tuesday Morning, Mattress One and Pushti Eyebrows. Front Street Commercial Real Estate Group represented RD Management in the lease deal with Earth Fare.