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Southeast

Walker & Dunlop Brokers $118.4M Sale of Green Apartment Complex in Palm Beach County

PALM BEACH GARDENS, FLA. — Walker & Dunlop Inc. has brokered the sale of The Quaye at Palm Beach Gardens, a 340-unit, Class A apartment community located in South Florida’s Palm Beach County. The sales price was not disclosed, but the South Florida Business Journal reports an affiliate of PGIM Real Estate, the real estate arm of Prudential Financial, purchased the asset in July for $118.4 million. Greg Engler, Chris Conklin and Roberto Pesant of Walker & Dunlop’s investment sales..

August 18, 2017

Cushman & Wakefield Arranges $53.3M Sale of Apartment Asset in Augusta, Georgia

AUGUSTA, GA. — Cushman & Wakefield has brokered the $53.3 million sale of Ansley at Town Center, a Class A apartment community in Augusta. Robert Stickel of Cushman & Wakefield represented the seller, Atlanta-based Cortland Partners, in the transaction. Demarest, N.J.-based Spyglass Capital Partners acquired the property. Ansley at Town Center features a swimming pool, fitness center, business center and a clubhouse.

August 18, 2017

Washington REIT Breaks Ground on 401-Unit Multifamily Community in Metro DC

ARLINGTON, VA. — Washington REIT has broken ground on The Trove, a 401-unit apartment community located in the Columbia Pike corridor of Arlington, roughly five miles southwest of Washington, D.C. The property will comprise three seven-story buildings, including a mix of studio to three-bedroom units. KGD Architecture, is designing The Trove to achieve LEED Silver certification. Community amenities will include a rooftop deck, a pool, cabanas, fire pits, grills, movie screens, fitness center,..

August 18, 2017

GBT Realty Delivers $36M Shopping Center Near Little Rock

BENTON, ARK. — GBT Realty has opened The Shoppes of Benton, a $36 million shopping center in Benton, roughly 25 miles southwest of Little Rock. The 170,000-square-foot center is home to tenants including PetSmart, Kay Jewelers, Maurices, Texas Roadhouse, T.J. Maxx, HomeGoods, Ulta Beauty and Hobby Lobby. Tuesday Morning, Avalon Nails, Flowers & Home, All Aboard Restaurant & Grill, Red Robin and Freddy’s Frozen Custard and Steakburgers are expected to open by the end of the year. The..

August 18, 2017

InvenTrust Acquires Harris Teeter-Anchored Shopping Center in Metro Raleigh for $25M

CARY, N.C. — InvenTrust Properties Corp. has purchased Cary Park Town Center, a Harris Teeter-anchored shopping center in Cary, roughly 11 miles west of Raleigh, for $25 million. The seller was not disclosed. In addition to Harris Teeter, the 93,000 square-foot center is home to tenants including CVS/pharmacy, Dunkin’ Donuts, Subway, Great Clips and Mathnasium. Located at 10130 Green Level Church Road, Cary Park Town Center is roughly 10 miles south of Research Triangle Park.

August 18, 2017

Bellwether Enterprise Arranges $185M Refinancing for Multifamily Portfolio in California, Maryland

LOS ANGELES, WOODLAND HILLS, CALIF. AND LAUREL, MD. — Bellwether Enterprise Real Estate Capital LLC has arranged three loans totaling $185.1 million for the refinancing of a multifamily portfolio located in California and Maryland. The portfolio consists of three properties totaling 1,384 units. The assets include: Avalon Russet in Laurel, Md.; eaves Woodland Hills in Woodland Hills, Calif.; and eaves Los Feliz in Los Angeles. Kip Kimble of Bellwether Enterprise arranged the 10-year..

August 18, 2017

OliverMcMillan to Develop 330,000 SF Office Tower in Atlanta’s Buckhead District

ATLANTA — San Diego-based OliverMcMillan has unveiled plans to build The Office Buckhead Atlanta, a 17-story, 330,000-square-foot office tower located at 300 E. Paces Ferry Road in Atlanta’s Buckhead district. Designed by San Francisco-based architect Gensler, the Class A building will feature 30,000 square feet of ground-level retail and restaurants. The office tower will be situated adjacent to The Shops Buckhead Atlanta, which OliverMcMillan developed in 2014. Construction will begin..

August 17, 2017

Safavieh to Invest $60M for 1.1 MSF Fulfillment Center in Savannah

SAVANNAH, GA. — Safavieh, a New-York based manufacturer and distributor of international home furnishings, will invest $60 million to develop a 1.1 million-square-foot fulfillment center at the Savannah River International Trade Park in Savannah. Bob Robers of Cushman & Wakefield represented Safavieh in the acquisition and development of the site, and Bradley Migdal and Carol Henderson of Cushman & Wakefield secured financing for the project. Safavieh currently operates more than..

August 17, 2017

Core5 to Break Ground on 1.1 MSF Logistics Center in Metro Atlanta

COWETA COUNTY, GA. — Core5 Industrial Partners has unveiled plans for Southwest 85 Logistics Center, a 1.1 million-square-foot industrial development situated off Exit 51 along Interstate 85 in Coweta County, roughly 35 miles southwest of Atlanta. Slated for delivery in the second quarter of 2018, the building will feature 40-foot clear-heights, trailer parking for more than 520 trailers and expansion opportunities up to 1.3 million square feet. The announcement for Southwest 85 comes on the..

August 17, 2017

Berkadia Arranges $39.8M Acquisition Loan for Multifamily Property in Tampa

TAMPA, FLA. — Berkadia has secured a $39.8 million acquisition loan through Fannie Mae for Landmark at Grand Palms, a 438-unit multifamily community located at 3831 Northgreen Ave. in Tampa. Electra America acquired the asset from Starwood Capital for an undisclosed price. The property will be rebranded as Northgreen at Carrollwood, and Electra America will invest approximately $3.5 million in capital improvements, including updated lighting and plumbing fixtures, plank flooring in common..

August 17, 2017