ATLANTA — CBRE Global Investors has acquired Alexander on Ponce, which is located at 144 Ponce De Leon Ave. N.E. in Atlanta. The 330-unit apartment community features panoramic city views, two courtyard and garden areas, a fully-equipped fitness center and a business center. Equity Residential sold the property for an undisclosed price. Derrick Bloom and David Gutting of Jones Lang LaSalle's Capital Markets team represented the seller in the transaction.
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WASHINGTON, D.C. — MAC Realty Advisors has arranged a $21 million investment from a private equity fund for the acquisition and development of 1600 Pennsylvania Avenue SE, an existing used car lot in Washington, D.C.’s Capitol Hill neighborhood. MAC also arranged a senior construction loan through a regional bank on behalf of the borrower, NOVO Development Corp. NOVO plans to build a five-story, 77-unit residential project with a one-level parking garage. Andrew McAllister, Bruce Levin and Ben Lazarus of MAC led the placement effort on the transactions.
JUPITER, FLA. — Starbucks Coffee has signed a long-term, 1,800-square-foot lease at Fisherman’s Wharf, a 5.5-acre shopping center in Jupiter. The shopping center, located on East Indiantown Road, is currently undergoing renovations. The Fresh Market has also recently signed on to anchor the center with a 20,900-square-foot store. Don DeWoody of Avison Young represented Starbucks in the lease transaction. Elizabeth Wright and Tom Godino of Atlantic Retail Properties represented the owner, Elion Partners.
INDIANAPOLIS — Hamilton Point Investments has sold Woodbrook Apartments, a 196-unit community located directly on Georgetown Road in Indianapolis, to CAPREIT for $6.7 million. Hamilton Point purchased Woodbrook as a distressed asset in March 2011 from a lender. The property was repositioned, stabilized and brought to market in early 2013.The Philadelphia-based owner and management company plans to further reposition the property by updating the clubhouse, adding new landscape and renovating the interiors of select units. Tikijian Associates represented the seller, Hamilton Point Investments, a Connecticut-based owner and management company, in the transaction. Oak Grove Capital arranged the acquisition financing through Freddie Mac.
SOUTH BEND, IND. — Triad Real Estate Partners has arranged the $5.3 million sale of Darby Row and The Belfry, a two-property, 71-bed student housing portfolio serving the University of Notre Dame in South Bend. The sale price represents a 7.74 percent capitalization rate. Locally based Holladay Properties developed the property in 2012 and 2013. The buyer is a relatively new student housing investment company based in Southern California that is looking to expand its Midwest footprint. Both properties are located within walking distance to campus and were fully leased for the 2013-14 school year.
WEST CHESTER, OHIO — Octal, a provider of polyethylene terephthalate (PET) resin and integrated PET sheet manufacturing, will occupy its first North American plant at 5399 East Provident Drive in West Chester. Cushman & Wakefield and Cincinnati Commercial Realtors represented Octal in the 130,720-square-foot office and warehouse lease negotiations. The site is located in an industrial park 20 miles north of Cincinnati, off interstate 75. Tenants in the park include Totes Isotoner and TradeGlobal. Dugan Financing LLC (Duke Realty) is the landlord. Mark Collins and Dean Collins of Cushman & Wakefield's Dallas-based tenant advisory group joined Josh Young and Si Pitstick of Cincinnati Commercial Realtors to broker the transaction for Octal. OCTAL’s products are used to package fresh food, beverages, pharmaceuticals, electrical goods and other consumer goods.
NORTH KANSAS CITY, MO. — Pizza Blends Inc. has leased 81,500 square feet of industrial space located at 1541 Vernon St. in North Kansas City. Ed Elder and Cameron Duff of Colliers International represented the tenant in the transaction. Joe and David LaMothe of Industrial Park Realty Co. Inc. represented the landlord, Mid-West Terminal Warehouse Co. Inc.
INDIANAPOLIS — The Indianapolis office of CBRE has arranged the sale of an 11,340-square-foot warehouse and office facility located at 1801 S. Lawndale in Indianapolis. The facility is situated on a 1.7 acres. Mark Writt of CBRE represented the seller in this transaction. The facility was formerly owned by OFP Family Partners Ltd. Chip Barnes of Jones Lang LaSalle represented the buyer, The John M. Sikich Jr. Trust, which plans to expand its operations into Indiana.
MOUNT ARLINGTON, N.J. —Marcus & Millichap has arranged the $18.6 million sale of Carriage Club, a 105-unit apartment property located in Mount Arlington, located about 30 miles northwest of Newark. Ridge MacLaren, Andrew Townsend, Clarke Talone, Mark Thomson, Zachary Pierce and Steven Rutman, investment specialists in Marcus & Millichap’s Philadelphia office, represented the buyer and the seller, both limited liability companies. Built in 2003, Carriage Club is a 55-plus active adult community located at 1 Hillside Drive. Amenities at the property include a clubhouse, indoor heated pool, fitness center, billiard room, library and putting green.
NEW YORK CITY — RFR Holding LLC and Vanke, China’s largest residential real estate developer, have broken ground on a new luxury residential condominium on East 53rd Street in Manhattan. Designed by Foster + Partners, the white tower at 610 Lexington Ave. will rise 700 feet, totaling 61 stories. RFR and Hines will work together on construction of the building through a joint development management agreement. Completion of 610 Lexington Ave. is slated for winter 2017.