DAVIS, CALIF. — An unnamed buyer has purchased the 31-unit DaVinci Apartments in Davis for $16 million. It is located at 1666 Da Vinci Court. The community was built in 2005. It is situated walking distance from the UC Davis campus. Adam Levin and Robert Johnston of Marcus & Millichap represented both the buyer and seller in this transaction.
SEATTLE — Cabot Properties has purchased Federal Way Corporate Center, a 73,498-square-foot industrial park in the Seattle submarket of Federal Way, for $7.6 million. The park is located at 34210 9th Ave. South. It was built in 2001. The facility is leased to three tenants. Brian Bruininks and Jeff Crane of the Andover Company/CORFAC International represented both the buyer and seller, Fedway Group LLLC, in this transaction.
ENCINITAS, CALIF. — Powder Days LLC has acquired a 10,040-square-foot medical building in the San Diego submarket of Encinitas for $3.8 million. The two-story building is located at 135 Saxony Road. The buyer plans to occupy the second floor of the building, while the ground-floor tenant, California Bank & Trust, will remain in place. Michael Mahoney and Peter Curry of Cushman and Wakefield represented the undisclosed seller.
SAN JOSE, CALIF. — Bestronics has leased 73,000 square feet of industrial space in San Jose. The space is located at 2243 Lundy Ave. Bestronics is an electronics contract manufacturer. Dan Hollingsworth, Steve Pace, Tom McGovern and Karen Sigl of Cushman & Wakefield represented the landlord, LD Odyssey.
ARVADA, COLO. — A local buyer has purchased the 26-unit Wadsworth Arms apartment complex in Arvada for $3.1 million. The community is located at 6700 Wadsworth Arms. It was built in 1957. Josh Newell of Pinnacle Real Estate Advisors represented both the buyer and seller in this transaction.
FORT LAUDERDALE, FLA. — The Related Group and Rabina Properties have closed a $105 million construction loan from SunTrust Bank for a high-rise apartment tower in Fort Lauderdale. The 45-story, 272-unit tower will be located at 500 E. Las Olas Blvd. and is set for completion in the second quarter of 2017. The project, known as Icon Las Olas, is the third Related Group development under construction in Broward County.
COLUMBIA, S.C. — Atlanta-based Haven Campus Communities will develop a $55 million, six-building student housing project in the Bull Street development near the University of South Carolina in Columbia. The 234-unit project will go up on nearly 6.5 acres in the proposed BullStreet Common development and feature apartment residences and townhomes. The project includes a 608-space parking deck and 104 street spaces, as well as a pool, courtyard and covered pavilion. The site is adjacent to a city-owned baseball stadium that will open this year.
MIAMI — Greystone and ALTA Developers have jointly sold The Mile, a 13-story, 120-unit luxury apartment development in Miami, to Monogram Residential Trust Inc., an owner, operator and developer of luxury apartment communities. The sales price was $48 million, according to several media outlets. The Mile is located at 3622 S.W. Coral Way near Miami’s Miracle Mile shopping district. The Mile was topped off in July 2015 and is set to open in the first quarter of 2016. Behar Font & Partners designed the apartment project, which will feature an indoor/outdoor social deck, fitness center, GE stainless steel appliances, white quartz countertops, designer cabinets, balconies and patios, swimming and soaking pools, gated parking and controlled electronic access. Jaret Turkell, Jeff Julien and Maurice Habif of HFF represented the sellers in the off-market transaction.
MIAMI — Silver Arch Capital Partners, a private lender based in Hackensack, N.J., has closed a $21 million loan for Apeiron at the Jockey Club in Miami. Once the site of the popular Jockey Club in the 1960s, the new hotel and residential development will span 1 million square feet at 111 Biscayne Blvd. David Larson of NGKF Capital Markets arranged the 2-year loan through Silver Arch Capital on behalf of Apeiron Miami LLC, a partnership headed by Ritz-Carlton Group co-founder Horst Schulze, former chairman of HBA International Michael Bedner and former vice president of Related International Muayad Abbas. The partnership will use the loan for engineering, architecture and planning purposes for the development, which will be built in two phases. Phase I is a 41-story tower that will feature 120 residential condominium units, 90 hotel rooms, a restaurant, fitness center and amenities. Phase I will also comprise a 417-space, two-story parking garage and the reconstruction of a 38-slip marina. Phase II will be a 120-unit residential condominium building and a 346-space parking structure.
CHARLOTTE, N.C. — Developers Crosland Southeast and Childress Klein have added two new retailers to the 90-acre Waverly development located near the intersection of Providence and Ardrey Kell roads in south Charlotte. CycleBar, an indoor cycling fitness studio, will lease 3,246 square feet, and PetPeople, a pet foods and supplies retailer, will lease 4,900 square feet. CycleBar plans to reach 100 locations by the end of 2016, with eight planned for the Charlotte metro area. In addition to the Waverly location, PetPeople, which currently operates 28 stores in the Midwest, is adding a location in Cornelius, N.C. Whole Foods Market will anchor Waverly’s 250,000-square-foot retail portion. The development will also feature the 375-unit Solis Waverly apartment community and 150 single-family homes and townhomes.
