LOS ANGELES – An eight-unit apartment building in West Los Angeles has sold to Chateau Pelham LLC for $2.7 million. The community is located at 1937 Pelham Ave. Ramin Gheitanchi of Charles Dunn Company represented both the buyer and the seller, 1937 Pelham LLC, in this transaction.
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ATLANTA — Buchanan Street Partners has provided a $72 million loan secured by Campanile, a 20-story, Class A office tower in Atlanta’s Midtown neighborhood. The 445,280-square-foot tower is the former headquarters for Bell South and was 50 percent leased at the time of the closing. The office tower is located at the intersection of 14th and Peachtree streets. Buchanan Street Partners provided the loan to building owner Dewberry Capital, which has owned the property since 2010. The transaction is Buchanan’s second loan to Dewberry in the past six months.
ATLANTA — Terwilliger Pappas Multifamily Partners has broken ground on Solis Downwood, a $50 million, 280-unit apartment building in Atlanta’s Buckhead neighborhood. The property is located on Downwood Circle between Northside Parkway and Howell Mill Road. The development will feature a rooftop terrace, central courtyard, saltwater pool, parking deck, cyber café, game room and pet park. Solis Downwood is Terwilliger Pappas’ first community in the Atlanta area. The project team includes architect Cooper Cary and general contractor Brasfield & Gorrie.
BALTIMORE — Cassidy Turley has arranged approximately $48.8 million in financing for One East Pratt Street, a 355,779-square-foot, Class A office building in Baltimore’s central business district. The office building was 71 percent leased at the time of the transaction to tenants such as PNC Bank, KPMG, Verizon Wireless and Merrill Lynch. The ground-floor tenants include Sullivan’s Steakhouse, Kona Grill and Nature’s Table. John Campanella and Paul Spellman of Cassidy Turley arranged the permanent financing through a bank on behalf of the borrower, Emmes Asset Management Co. LLC.
HOOVER, ALA. — Q10 | Professional Mortgage Co. has arranged financing for a 50,560-square-foot CarMax store, located at 2969 John Hawkins Parkway in Hoover. Bryson Thomason of Q10 arranged the $8.4 million, fixed-rate loan.
EFFINGHAM, S.C. — Quantum Real Estate Advisors Inc. has arranged the sale of a freestanding Dollar General in Effingham. The 9,002-square-foot store sold for approximately $1.2 million. Jordan Kaufman and Dan Waszak of Quantum Real Estate Advisors represented the seller, a private, South Carolina-based developer and investor. The buyer, a private individual from Florida, purchased the asset in a 1031 tax-deferred exchange.
ST. PAUL, MINN. — Dougherty Mortgage LLC has originated a $14 million HUD 223(f) loan for the refinancing of Creek Point Apartments. The 234-unit market-rate apartment property is located at 1920 Burns Ave. in St. Paul. Dougherty Mortgage arranged the fully amortizing 35-year loan for Foxcroft Apartments LLP. As part of the refinancing, the borrower intends to renovate and reposition the property.
CHICAGO — Sperry Van Ness | Chicago Commercial has arranged the $1.6 million sale of a 23,000-square-foot land site in Chicago. The property is located at 1809 W. Devon Ave. Wayne Caplan of Sperry Van Ness represented the undisclosed buyer, who plans to convert the site into a self-storage facility. John Homsher of Podolsky | Circle CORFAC International represented the undisclosed seller.
MADISON HEIGHTS, MICH. — Colliers International Detroit has arranged the lease of a 1,357-square-foot retail space in Universal Mall to T-Mobile. The wireless carrier will occupy space in the mall, which is located at 28532 Dequindre Road in Madison Heights, a northern suburb of Detroit. Barry Landau of Colliers represented the landlord, Universal Mall Properties LLC, and the tenant, T-Mobile, in the lease transaction.
CHICAGO — NelsonHill, a Chicago-based full-service real estate firm, has brokered the sale of a 5,300-square-foot warehouse building in Chicago for $1.2 million. Jordan Mozer & Associates, a Chicago-based international design firm, purchased the space located at 318 N. Laflin St. The design firm plans to use the building as a high-end showroom with office space. Mark Nelson and Michael Nelson of NelsonHill represented the seller, Music Direct. Ann Anovitz Associates represented the buyer in the transaction.