Joint Venture Breaks Ground on 268-Unit Multifamily Project in Birmingham

BIRMINGHAM, ALA. — A joint venture between Novare Group, Prestwick Cos. and Batson-Cook Development Co. (BCDC) has broken ground on Foundry Yards, a 268-unit multifamily project in Birmingham’s Parkside District. Foundry Yards will offer studio, one- and two-bedroom floor plans across two buildings. Community amenities will include an outdoor kitchen, grilling areas, bocce ball court, dog park, swimming pool, 24-hour fitness center, club room and coworking space. The two buildings will be …

May 23, 2019Alabama, Development, Multifamily, Southeast

Joint Venture Sells Shopping Center in Huntsville for $27M

HUNTSVILLE, ALA. — A joint venture between MGold Properties and Mishorim Real Estate Investments has sold University Place, a 169,585-square-foot retail center in Huntsville, for $27 million. University Place was fully leased at the time of the sale to tenants including Cheddar's Scratch Kitchen, Armed Forces Career Center, Zaxby’s, Panda Express, Red Wing Shoes, Republic Finance, T-Mobile and Subway. The property sits on 17.2 acres at 6125 University Drive along U.S. Highway 72, about six …

May 17, 2019Acquisitions, Alabama, Retail, Southeast

Cushman & Wakefield Arranges $93.5M Sale of Apartment Portfolio in Birmingham

BIRMINGHAM, ALA. — Cushman & Wakefield has arranged the $93.5 million sale of a three-property, 1,816-unit apartment portfolio in Birmingham. The three properties included in the sale are The Park at Buckingham, The Park at Callington and Carlyle. The Park at Buckingham was built in 1972 and offers 583 units. Amenities include tennis courts, a sand volleyball court, two swimming pools with sun decks and a theater room. The Park at Callington and Carlyle were built in 1978 and 1973, …

May 13, 2019Acquisitions, Alabama, Multifamily, Southeast

Intercapital Group Sells 825-Unit Multifamily Portfolio in Hoover, Alabama

HOOVER, ALA. — Intercapital Group has sold three multifamily properties totaling 825 units in Hoover. The portfolio includes the 431-unit The Park at Galleria, the 150-unit The Place at Galleria and the 244-unit The Renaissance at Galleria. The properties are situated within 3.5 miles of each other. Sunbelt Residential acquired Park at Galleria, BAF Associates bought Place at Galleria and Myers Apartment Group purchased The Renaissance at Galleria. According to Jimmy Adams of Cushman & …

May 10, 2019Acquisitions, Alabama, Multifamily, Southeast

GBT Realty Signs HomeGoods, Shoe Station at Tuscaloosa Shopping Center

TUSCALOOSA, ALA. — GBT Realty has signed HomeGoods and Shoe Station to lease space at McFarland Plaza, a 234,000-square-foot retail power center located at 2600 McFarland Blvd. in Tuscaloosa, about one mile south of the University of Alabama. HomeGoods will backfill a former Toys ‘R’ Us store spanning 23,000 square feet, and Shoe Station will lease 11,900 square feet. The center was 97 percent leased at the time of sale to tenants such as Ross Dress for Less, T.J. Maxx, Stein Mart, Cato …

April 29, 2019Alabama, Leasing Activity, Retail, Southeast

PointOne Holdings, Biscayne Atlantic Sell Two Office Buildings in Birmingham for $34.5M

BIRMINGHAM, ALA. — PointOne Holdings LLC and Biscayne Atlantic have sold two office buildings in Birmingham for $34.5 million. The Class A office buildings total 153,000 square feet and are situated at 1800 and 1900 International Park, about 11 miles south of downtown Birmingham. The joint venture originally acquired the property as part of a three-building portfolio that also included Blue Lake, which PointOne Holdings and Biscayne Atlantic will retain. Kevin Markwordt of Transwestern …

April 24, 2019Acquisitions, Alabama, Office, Southeast

Marcus & Millichap Brokers $7.8M Sale of Retail Center in Eastern Alabama

GADSDEN, ALA. — Marcus & Millichap has arranged the $7.8 million sale of Riverview Plaza, a 148,860-square-foot shopping center in Gadsden. Bargain Hunt, Harbor Freight Tools, Tuesday Morning and Dollar Tree anchor the center. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, EIG Riverview Plaza LLC, in the transaction. Louise Jennings of Real Estate Southeast represented the buyer, MR Stealth LLC, which is a private

April 24, 2019Acquisitions, Alabama, Retail, Southeast

Big V Property Group Acquires Shopping Center in Huntsville for $35.9M

HUNTSVILLE, ALA. — Big V Property Group has acquired Westside Centre, a 655,638-square-foot shopping center in Huntsville, for $35.9 million. The property was 74 percent leased at the time of the sale to tenants including Big Lots, Stein Mart, Tuesday Morning, PetSmart, Ross Dress for Less, Shoe Carnival and Party City. Super Target shadow anchors the center. Westside Centre is situated at 6275 University Drive NW, adjacent to the 4,000-acre Cummings Research Park and six miles west of …

April 18, 2019Acquisitions, Alabama, Retail, Southeast

CBRE Arranges $90M Sale of 22 Medical Buildings in Southeast, Chicago

LOS ANGELES — CBRE has arranged the $90 million sale of 22 medical buildings in Florida, Georgia, Alabama and Illinois. The sale includes the Dermatology Solutions Group portfolio, an eight-building portfolio totaling 51,505 square feet in Alabama and Florida. The portfolio is fully occupied by Dermatology Solutions Group, which signed 10-year leases at each site at closing. Physician Group sold the properties to a public single-tenant REIT. A 47,936-square-foot building situated at 2061 …

April 16, 2019Acquisitions, Alabama, Florida, Georgia, Office, Southeast

Eyzenberg & Co. Arranges $35.4M Refinancing Loan for Multifamily Portfolio in Southeast

NEW YORK CITY — Eyzenberg & Co. has arranged a $35.4 million refinancing loan for a three-property multifamily portfolio across the Southeast. The portfolio includes the 188-unit Park at Arlington in Covington, Ga.; the 232-unit Park at Brighton in Robinsonville, Miss.; and the 184-unit Park at Ashburn in Dothan, Ala. A joint venture between Blue Magma Residential LLC and NCP Enterprise Funds acquired the portfolio in December 2017. New York City-based Jeff Conti and Mila Babenko …

April 11, 2019Alabama, Georgia, Loans, Mississippi, Multifamily, Southeast