Mississippi

Stirling Properties Buys Power Retail Center in Hattiesburg for $48.1M

by John Nelson January 29, 2016

HATTIESBURG, MISS. — Stirling Properties has purchased Turtle Creek Crossing, a 295,000-square-foot power retail center in Hattiesburg, for $48.1 million. The shopping center is the largest retail acquisition by Stirling Properties in its 40-year history. Built in 2007, Turtle Creek Crossing is located on US Highway 98 adjacent to Turtle Creek Mall. The center’s anchor tenants include Ashley Furniture, Bed Bath & Beyond, Ross Dress for Less, Old Navy, Books-A-Million and PetSmart. The property is shadow-anchored by Academy Sports + Outdoors, Target and Kohl’s and shares a lighted intersection with Sam’s Club and Walmart Supercenter.

January 29, 2016

Mississippi Seniors Housing Southeast

Blake Management Opens Two Seniors Housing Facilities in Mississippi

by John Nelson January 5, 2016

STARKVILLE AND OXFORD, MISS. — Blake Management Group has opened The Claiborne at Adelaide, an independent living, assisted living and memory care community in Starkville, near the Alabama border. Blake manages the 82,000-square-foot community, which includes 14 independent living units, 43 assisted living units and 25 memory care units. The Mississippi-based seniors housing operator has also opened The Blake at Oxford, a 100-unit assisted living and memory care community in Oxford. The 85,000-square-foot community features 66 assisted living units and 34 memory care units. Cardinal Ventures Inc., a Mississippi-based developer, built The Blake at Oxford. Based in central Mississippi, Blake operates communities in Alabama, Louisiana, Mississippi, Tennessee and South Carolina.

January 5, 2016

Alabama Florida Loans Mississippi Multifamily Southeast

CBRE Arranges Four Loans Totaling $67.3M for Multifamily Properties in the Southeast

by John Nelson December 16, 2015

ORLANDO, FLA. — CBRE Capital Markets’ debt and structured finance team in Orlando has secured a total $67.3 million in permanent financing for four separate properties in Alabama, Mississippi and Florida. Glenn Housman of CBRE led the team that arranged the loans on behalf of four separate investment groups. The properties include the 321-unit Abbey at Riverchase in Hoover, Ala.; the 218-unit Arbor Landing on the River in Biloxi, Miss.; the 202-unit Redmont Gardens in Mountain Brook, Ala.; and the 135-unit Summer Glenn in Jacksonville, Fla. The financing includes a $25.3 million Fannie Mae loan that the borrower, Abbey Residential, will use to take out the construction/renovation loan for Abbey at Riverchase; a $22.2 million Fannie Mae loan that the borrower, Arbor Properties Inc., will use to take out the construction loan for Arbor Landing on the River; a $13.6 million Fannie Mae loan that the unnamed borrower will use to refinance debt on Redmont Gardens; and a $6.2 million CMBS loan that SMG Property Management Inc. will use to refinance a maturing Freddie Mac loan on Summer Glenn.

December 16, 2015

Loans Mississippi Multifamily Southeast

NorthMarq Arranges Financing for Apartment Complex in Mississippi

by Haisten Willis November 4, 2015

RIDGELAND, MISS. — Greg Duvall of NorthMarq Capital’s Kansas City regional office has arranged acquisition financing of $24.5 million for Arbors at Natchez Trace, a 328-unit multifamily property located at 715 Rice Road in Ridgeland, Miss. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. Property amenities include a fitness center, pool, tennis court, walking/biking trails, picnic area, laundry facilities and wheelchair accessible rooms.

November 4, 2015

Industrial Mississippi Southeast

NAI UCR Properties Brokers $2.9M Sale of Retail/Warehouse Facility in Metro Jackson

by John Nelson October 22, 2015

PEARL, MISS. — NAI UCR Properties has brokered the $2.9 million sale of a 100,000-square-foot retail/warehouse facility in Pearl, a suburb of Jackson. The vacant property was originally a build-to-suit for a wholesale furniture retailer and featured a showroom and distribution center. The property is close to the intersection of I-55 and I-20 near the Jackson International Airport. Amerco Real Estate Co., which provides development and real estate services for U-Haul, purchased the facility and was self-represented in the transaction. Micah McCullough and Brett Bailey of NAI UCR Properties represented the seller.

October 22, 2015

Mississippi Retail Southeast

RCG Ventures Acquires Shopping Center in Tupelo for $18.1M

by John Nelson October 21, 2015

TUPELO, MISS. — RCG Ventures has purchased the 114,425-square-foot Kings Crossing, a shopping center anchored by Ross Dress for Less in Tupelo, for approximately $18.1 million. Located at 3980 N. Gloster St., the property is adjacent to the 700,000-square-foot Mall at Barnes Crossing. Kevin Reavey and Chris Decoufle of CBRE represented the unnamed seller in the transaction. Scott Tarbet represented RCG Ventures internally.

October 21, 2015

Mississippi Office Southeast

Hertz Investment Group Buys City Centre in Jackson’s CBD for $6.2M

by John Nelson October 2, 2015

JACKSON, MISS. — Hertz Investment Group, a Santa Monica, Calif-based commercial real estate investor and manager, has acquired the 266,700-square-foot City Centre located at 200 S. Lamar St. in Jackson’s central business district (CBD). Hertz purchased the two-tower, Class A office property from Parkway Properties for $6.2 million. The office property was 87 percent leased at the time of sale to a tenant mix comprising law firms, government agencies and insurance companies. City Centre was renovated in 1987 and features two lobbies with marble finishes and an atrium with black granite and mahogany panels. In addition to City Centre, Hertz’s downtown Jackson portfolio includes the Pinnacle, One Jackson Place, 111 East Capitol, Regions Plaza and Regions Bank Building. The investor’s overall portfolio spans more than 19 million square feet of office space in 20 cities across 15 states.

October 2, 2015

Healthcare Mississippi Southeast

Colliers Brokers $66.5M Sale of Medical Office Complex in Mississippi

by John Nelson September 9, 2015

HATTIESBURG, MISS. — Colliers International has brokered the $66.5 million sale of The Orthopedic Institute, a medical office complex located at 27 Veterans Memorial Drive in Hattiesburg. The complex comprises a two-story, 73,750-square-foot orthopedic hospital and a three-story, 63,944-square-foot medical office building. Forrest Health occupies the hospital, and Southern Bone & Joint Specialists PA occupies the medical office building. The hospital was sold for $39.3 million to an undisclosed institutional investor, and the medical office building was sold to a separate undisclosed institutional investor for $27.2 million. Josh Randolph of Colliers International’s Birmingham office represented the sellers, Pointe Properties LLC and Southern Development Resources, in the transactions.

September 9, 2015

Mississippi Mixed-Use Southeast

Duckworth Realty Brokers Sale of 12-Story Mixed-Use Tower in Jackson

by John Nelson June 16, 2015

JACKSON, MISS. — Duckworth Realty Inc. has brokered the sale of the Plaza Building, a 12-story, 80,000-square-foot mixed-use tower in downtown Jackson. The property comprises ground-floor retail and restaurants, eight floors of office space and three floors of luxury apartments. The Plaza Building LLC purchased the tower for an undisclosed amount. John Michael Holtmann of Duckworth Realty Inc. represented the seller, GECMC 07-C1 Downtown Plaza LLC, a subsidiary of GECMC 2007-C1 Commercial Mortgage Trust that is specially serviced by Torchlight Loan Services. According to Duckworth, the Plaza Building was 71 percent occupied at the time of sale.

June 16, 2015

Mississippi Multifamily Southeast

Morgan Properties, DRA Advisors Acquire Apartment Community in Towson

by John Nelson April 8, 2015

TOWSON, MD. — Morgan Properties and DRA Advisors LLC have acquired The Colony at Kenilworth, a 383-unit apartment community located in Towson. Morgan and DRA plan to execute a value-enhancement strategy that will address capital needs, reposition the property and enhance the value of the asset. The partnership intends to upgrade unit interiors and also has plans to improve common area amenities by renovating the fitness center and clubhouse. The Colony marks the third acquisition that Morgan Properties and DRA have purchased together in the Maryland-Washington, D.C. Corridor. The seller and the sales price were undisclosed.

April 8, 2015

Newer Posts

Older Posts