PHOENIX – The 61-unit Metropolitan Loftsin Phoenix has sold to Lead Properties V, LLC for $2.7 million. The community is partially completed, and resides at 535 W. Thomas Road. The seller, ML Manager LLC, was represented by David Fogler and Steven Nicoluzakis of Cassidy Turley’s Multifamily Service Group and Don Arones with Cassidy Turley’s Office Service Group.
MELBOURNE, FLA. — A joint venture between DeBartolo Development and Elco Landmark Residential has acquired the 208-unit Sunbreeze Apartments, a multifamily property located at 2395 Woodwind Trail in Melbourne. Amenities include a lakeside pool, Wi-Fi cafe, business center, fitness center, lakeside tennis court, sports court, fitness center and 24-hour clothes care center. The joint venture has rebranded the property as Landmark at Waverly Place and plans to complete more than $1 million in improvements during the next 18 months.
WINSTON-SALEM, N.C. — A 10,125-square-foot CVS/pharmacy, located in Winston-Salem, has sold for $3.75 million. CVS/pharmacy has a 22-year lease, which expires in 2023, on the property. Berkley Capital Advisors represented the seller, a local developer, in the transaction. National Net Lease Realty represented the buyer, a Pennsylvania-based private investor.
HATTIESBURG, MISS. — The 45,927-square-foot T.J. Maxx and Shops at Turtle Creek, a neighborhood shopping center located at 5024-5040 Hardy St. in Hattiesburg, has sold. T.J. Maxx anchors the center, which is 93 percent leased to tenants that include H&R Block, APM Subs, Pizza Inn, Oreck and Sweet Peppers. The Mansour Group of Marcus & Millichap represented the seller, a Texas-based private investment group, in the transaction.
JACKSONVILLE, N.C. — A new 105-room Home2 Suites by Hilton, located at 139 Circuit Ln. in Jacksonville, has opened. Amenities include an indoor saline swimming pool and scenic walking trail, as well as complimentary breakfast. This is the second Home2 Suites in North Carolina. Onslow Hospitality built the property, and LBA Hospitality will manage it.
ALEXANDRIA, VA. — Beech Street Capital has provided a $18.9 million Fannie Mae conventional loan for the acquisition of the 180-unit Mallard Courts, an apartment complex located at 4511 Colony Ct. in Alexandria. Jacob Katz of Meridian Capital Group originated the loan, which has a 10-year term with 2.5 years of interest-only payments.
CHICAGO — Myers Place, a $13.2 million affordable housing development, has broken ground in the northwest suburbs of Chicago. Myers Place will offer affordable housing for individuals who are disabled, mentally ill or formerly homeless, who have the ability to live independently. The property will consist of 39 apartment units and include a community room with kitchen, laundry facilities and offices for case managers. Chicago-based Daveri Development Group is building the property. The project is being funded by a variety of partners, including UnitedHealthcare of Illinois and the Illinois Housing Development Agency. Myers Place is expected to open in the summer of 2013.
FRANKFORT, IND. — Marcus & Millichap has arranged the $2.2 million sale of Sterling Court Apartments, an 80-unit property in Frankfort, about 50 miles northwest of Indianapolis. Brent Silcox of Marcus & Millichap's Indianapolis office represented the seller, a limited liability company, in the transaction. He also secured the buyer, a limited liability company.
OMAHA — Q10/Daisley Ruff Financial has arranged a $2.8 million loan for the refinancing of six industrial buildings in Omaha. The buildings are approximately 15,000 square feet each. Bob Chalupa of Q10/Daisley Ruff Financial arranged the 20-year loan through a correspondent life company. The loan includes a fixed rate for the first 10 years.
WAUKEGAN, ILL. — VPL Logistics has signed a 167,000-square-foot industrial lease at 3600 Amhurst Parkway in Waukegan. VPL, a packaging solutions provider, plans to use the facility for its warehouse and distribution operations. Whit Heitman, Sam Badger and Bradley Weiner of Paine/Wetzel/TCN Worldwide represented the landlord, Prudential Financial, in the transaction. Heitman also represented the tenant.