KENNESAW, GA. — CBRE has brokered the $47.5 million sale of the 446-unit AMLI at Barrett Lakes, located at 1950 Barrett Lakes Blvd. in Kennesaw. Kevin Geiger of CBRE's Atlanta office represented the seller, the original developer, in the transaction. The buyer was Barrett Heights Apartment Homes.
PLANTATION, FLA. — Marcus & Millichap has arranged the $8.81 million sale of the 167-unit The Landmark Towers, an apartment community located at 601 NW 42nd Ave. in Plantation. Tal Frydman and Felipe Echarte of Marcus & Millichap's Fort Lauderdale, Fla., office represented the seller, a New York City-based limited liability company, in the transaction and procured the buyer, a partnership from Philadelphia and New York.
FREDERICKSBURG, VA. —The 18,714-square-foot Spotswood Medical Center, located at 4103-4107 Lafayette Blvd. in Fredericksburg, has been sold for $3 million. Virgil Nelson of Cushman & Wakefield/Thalhimer's Fredericksburg office represented Spotswood Medical Center Associates, the seller, in the transaction and procured the buyer, Lafayette Boulevard Properties.
MIAMI, TAMARAC AND JACKSONVILLE, FLA. — LYND has purchased the $49 million unpaid principle balance on three notes for three multifamily properties in Tamarac, Miami and Jacksonville from Miami Beach, Fla.-based LNR Property. The three properties have a total of 945 units.
TAMPA, FLA. — Franklin Street Real Estate Services has arranged the sale of the note and mortgage collateralized by the 48-unit Palma Sur Apartments, located at 3729 W. Tyson Ave. in Tampa. Kevin Kelleher, Bob Goldfinger and Darron Kattan of Franklin Street's Tampa office represented the seller, a national lender, in the transaction and procured the buyer, local private investors.
MILWAUKEE — Paul Davis National, a firm that specializes in consulting and emergency services for catastrophic disasters, will move its headquarters to Milwaukee in a new 40,000-square-foot building. Paul Davis National will invest $10 million in equipment and the new building, which will be located at 2000 S. Fourth St. The building is slated to open in spring 2012.
ST. LOUIS— Faultless Laundry Co., a Kansas City-based textile rental company, has acquired the 103,000-square-foot industrial building at 1615 N. 25th St. in St. Louis for $2.35 million. Patrick Reilly of Gateway Commercial represented the buyer. Hilliker Corp. represented the seller, Reed Family Investment Group.
KANSAS CITY, MO. — Summit Hotel Properties Inc. (NYSE: INN) has agreed to purchase the 96-room Residence Inn by Marriott in downtown Kansas City for $103,000 per key. The company has also agreed to purchase a 150-room Courtyard by Marriott in downtown Atlanta. The completion of the acquisitions is subject to lender approval.
NEW LONDON, N.H. —CBRE's National Retail Investment Group has arranged the sale of New London Shopping Center, a 107,301-square-foot, supermarket-anchored shopping center in New London, N.H. for $15.7 million. Chris Angelone, Bill Moylan, Jim Koury, Nat Heald and Josh Klimkiewicz of CBRE's Boston office represented the seller, Kimco Realty Corp. in the transaction. They also procured the buyer, CrossPoint Associates.
BROOKLYN — GFI Realty Services Inc. has completed the $22 million sale of 3101 and 3115 Ave. in Brooklyn. The apartment buildings include a total of 154 units. GFI Realty Services brokered both sides of the transaction. Yanni Simantov represented the seller, Elias Mallouk Realty and Josh Orlander represented the buyer, the Parkoff Organization.