CARY, N.C. — HFF has arranged $31.5 million in financing for the development of Hillstone Alston Town Center, a 205-unit apartment community in Cary, roughly 12 miles west of Raleigh. Travis Anderson, Cory Fowler and Roger Edwards of HFF arranged a $21.3 million, floating–rate loan through UBTNC — a division of Union Bank & Trust — and $10.2 million in preferred equity from Marble Capital on behalf of the project developer, Leon Capital Group. Hillstone Alston Town Center will be..
FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $53 million sale of The Queue Apartments, a 191-unit multifamily community located at 817 S.E. 2nd Ave. in downtown Fort Lauderdale. Robert Given, Troy Ballard, Zachary Sackley and James Quinn of Cushman & Wakefield arranged the transaction on behalf of the seller and property developer, a joint venture between Urban Street Development and Fazio Properties. Miami-based Boardwalk Properties acquired the asset. The..
FAYETTEVILLE, GA. — Grover Corlew has sold Fayette Surgical Building, Fayette Medical Building and a parcel of undeveloped land in Fayetteville, roughly 22 miles south of Atlanta, for $16.3 million. The Florida-based real estate investment group developed the 17,500-square-foot Fayette Medical Building approximately 10 years ago, and completed the 30,195-square-foot Fayette Surgical Building in October. Resurgens Fayette Surgery Center occupies 16,644 square feet in the Fayette Surgical..
CHARLOTTE, N.C. — M. David Properties has acquired a 30-acre site at the intersection of Hucks and Old Statesville roads in Charlotte, with plans to develop a 300,000-square-foot industrial park dubbed SilverPark North. Matthew Greer of JLL arranged the transaction on behalf of the seller, Kathy Godley, while JLL’s Brad Cherry and Pete Pittroff represented M. David Properties. SilverPark North will include three buildings, the first of which will be a 136,000-square-foot speculative..
SUMMERVILLE, S.C. — Condor Hospitality Trust Inc. has acquired a 93-room Home2 Suites by Hilton in Summerville, roughly 25 miles northwest of Charleston. The Maryland-based hospitality REIT acquired the asset for $16.3 million. Everest Hotels Group developed the property, according to The Post and Courier. Inn Ventures, Condor’s management partner, will manage the property, which opened in 2017. The hotel features a business center, convenience shop, Spin2Cycle fitness and laundry..
CHICAGO — Hyatt Hotels Corp. (NYSE: H) has agreed to sell a three-property hotel portfolio to Host Hotels & Resorts Inc. (NYSE: HST) for approximately $1 billion. The transaction includes the Andaz Maui at Wailea Resort in Wailea, Hawaii, the Grand Hyatt San Francisco and the Hyatt Regency Coconut Point Resort and Spa in Bonita Springs, Fla. Hyatt will continue to manage the three hotels under long-term management agreements. The transaction is expected to close at the end of..
FAIRFAX, VA. — HFF has arranged $115.4 million in construction financing for Scout on the Circle, a 551,000-square-foot residential and retail project in Fairfax, roughly 20 miles west of Washington, D.C. Susan Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex of HFF arranged a $100 million floating-rate loan and $15.4 million in preferred equity on behalf of the developer, Washington, D.C.-based Combined Properties Inc. Scout on the Circle will feature a 54,000-square-foot,..
NEWPORT NEWS, VA. — Walker & Dunlop has provided a $34.4 million loan through the United States Department of Housing and Urban Development (HUD) for the refinancing of Meridian Parkside, a 308-unit multifamily community in Newport News in Virginia’s Hampton Roads region. Hal Reinauer, Tom Toland and Chris Rumul of Walker & Dunlop worked with HUD’s Baltimore office to originate the 35-year HUD 223(f) loan on behalf of the borrowers, Bonaventure Realty Group and Phillip Roper III...
MIAMI — Houston-based developer Morgan, in conjunction with Mesirow Financial, has opened Midtown 29, a 309-unit apartment tower located at 180 N.E. 29th St. in Midtown Miami. Designed by Stantec, the community is situated at the entrance to the 645,000-square-foot The Shops at Midtown Miami. Wells Fargo provided construction financing for the 20-story project, which comprises studio to three-bedroom units, averaging 837 square feet. The seventh floor amenity deck features a resort-style..
CHARLOTTE, N.C. —CBRE has arranged a 41,716-square-foot lease for Curvature, an IT support, products and services provider, at Coliseum Centre Five in Charlotte’s Airport submarket. Curvature will move its global headquarters to the 152,000-square-foot, six-story building in the second quarter, relocating from its current location at 10420 Harris Oaks Blvd. in north Charlotte. The company will occupy the entire sixth floor and most of the fifth floor. Joe Franco and Stephanie Spivey..