REBusinessOnline

Knotting, Ardent Break Ground on 35-Acre Adaptive Reuse Project in Athens, Georgia

ATHENS, GA. — Knotting Development, in partnership with the Ardent Cos., has broken ground on General Time Athens, an adaptive reuse project at the former Westclox Building in Athens. The first phase of the project will revitalize the 100,000-square-foot warehouse of the former clock manufacturer, located at 100 Newton Bridge Road, roughly two miles from the University of Georgia (UGA) campus. Terrapin Beer Co. will anchor the project, leasing 68,000 square feet of warehouse space. The …

Vesper Holdings Acquires Student Housing Property Near UNC Greensboro for $40M

GREENSBORO, N.C. —Vesper Holdings has acquired University Village, a 600-bed student housing community in Greensboro, for $40 million. The name of the seller was not disclosed. The community is located across the street from the main entrance of the University of North Carolina at Greensboro (UNCG). Constructed in 2006, the community includes a mix of two-, three- and four-bedroom floor plans with bed-to-bath parity. Community amenities include a clubhouse, swimming pool, 24-hour fitness …

Stirling Properties Brokers Sale of 14-Story Office Building Near New Orleans

METAIRIE, LA. — Stirling Properties has brokered the sale of The Executive Office Tower, a 184,608-square-foot office building located at 3500 N. Causeway Blvd. in Metairie, roughly eight miles northwest of New Orleans. Roger Bajon of Stirling Properties arranged the transaction on behalf of the undisclosed seller. A Dallas-based investor acquired the 14-story building for an undisclosed price. The Executive Office Tower is home to tenants such as Keystone

HFF Arranges $11M Construction Loan for 281,025 SF Industrial Project in Metro Atlanta

FAIRBURN, GA. — HFF has arranged an $11 million construction loan for the development of Graham Logistics Center, a 281,025-square-foot industrial building in Fairburn. The property is situated on 25.7 acres at 7375 Graham Road, roughly 20 miles southwest of downtown Atlanta. Gregg Shapiro and Matthew Beam of HFF arranged the four-year, non-recourse, floating-rate loan through Brand Bank on behalf of the borrower and developer, Stream Realty Partners. Upon completion, Graham Logistics Center …

NorthMarq Secures $6.4M Acquisition Loan for Student Housing Community in Milledgeville, Georgia

MILLEDGEVILLE, GA. — NorthMarq Capital has arranged a $6.4 million acquisition loan for Prospect Milledgeville, a 141-bed student housing community in Milledgeville. The community is located less than a mile from Georgia College & State University, Georgia Military College and downtown Milledgeville. Lee Weaver of NorthMarq’s Tampa office arranged the 12-year loan with a 30-year amortization schedule on behalf of the undisclosed borrower. Prospect Milledgeville features a resort-style …

Core5 Signs Supply Chain User to 1.2 MSF Industrial Lease in Southwest Atlanta

ATLANTA — Atlanta-based Core5 Industrial Partners has signed Saddle Creek Logistics Services to a 1.2 million-square-foot lease at Southwest 85 Logistics Center, an industrial building under construction in southwest Atlanta. Saddle Creek, a provider of supply chain solutions for retailers, manufacturers and e-commerce companies, will use the new space to provide distribution services on behalf of a home improvement retailer for its Southeast locations. Core5 expects to wrap up construction …

KeyBank Provides $37.5M Freddie Mac Financing for Two Student Housing Properties in Louisiana, Florida

BATON ROUGE, LA. AND DAYTONA BEACH, FLA. — KeyBank Real Estate Capital has provided $37.5 million in Freddie Mac loans for the refinancing of two student housing properties located in Baton Rouge and Daytona Beach. Trevor Ritter of KeyBank originated a $21.7 million, floating-rate loan for Oakbrook Apartments, a 240-unit student housing community near Louisiana State University in Baton Rouge. The community was constructed in 1983 and renovated in 2017. In Daytona Beach, Ritter originated a …

Aztec Group Arranges $21.3M Construction Loan for AC Marriott Hotel in Midtown Miami

MIAMI — Aztec Group Inc. has arranged a $21.3 million construction loan for the development of the AC Marriott Hotel in Midtown Miami. Boaz Ashbel of Aztec Group arranged the loan through Florida Community Bank NA on behalf of the project developer, Midtown Lodging 2 LLC. The 153-room hotel will be located at the corner of N.E. 34th Street and Biscayne Boulevard and will feature a modern glass façade. Hotel amenities will include a restaurant and bar/lounge, business center, fitness center, …

Mercer Street Partners Acquires Office Building in Virginia Beach for $9.9M

VIRGINIA BEACH, VA. — Mercer Street Partners has acquired Corporate Center V, a 71,000-square-foot office building in Virginia Beach, for $9.9 million. Amerigroup Corp., a health insurance provider and wholly owned subsidiary of Anthem Inc., is headquartered at the building. Canal Capital Management arranged the transaction on behalf of Mercer Street Partners. Cushman & Wakefield | Thalhimer represented the undisclosed seller. Located at 4425 Corporation Lane within Corporate Center …

Doster Construction Completes 252-Unit Multifamily Community in Southwest Louisiana

LAKE CHARLES, LA. — Doster Construction Co. has delivered Springs at Country Club, a 252-unit multifamily community located in the southwest Louisiana city of Lake Charles. Continental Properties developed the community, which includes a mix of studio, one-, two- and three-bedroom units. Community amenities include a resort-style pool, clubhouse, complimentary coffee bar, 24-hour fitness center, dog park and a pet spa