CORDOVA, TENN. AND HIGH POINT, N.C. — Capital One Multifamily Finance has originated $61.6 million in two Fannie Mae loans for the refinancing of two apartment communities in the Southeast. The financing included a $25.6 million loan for Lincoln at Wolfchase, a 408-unit apartment community located in Cordova, about 15 miles east of Memphis. The other deal was a $36 million loan for Laurel Springs Apartments, a 501-unit multifamily community in High Point. Chad Thomas Hagwood and Brandon Pate of Capital One Multifamily Finance’s Birmingham, Ala., office arranged both 12-year, fixed-rate loans on behalf of the borrower, EBSCO Income Properties. Laurel Springs was financed under Fannie Mae’s Green Building Certification program.
RALEIGH, N.C. — FCA Partners LLC has acquired Celebration at Six Forks, a 125,000-square-foot retail center located at the intersection of Six Forks and Sawmill roads in north Raleigh. The Charlotte-based investment management firm purchased the asset from a high net worth fiduciary based in New Jersey for $19.1 million. Built in 1978, the shopping center was 95 percent leased at the time of sale to tenants such as Fitness Connection, The UPS Store, Dollar General, Domino’s, McDonald’s and BB&T Bank. FCA intends to upgrade Celebration at Six Forks with painting, façade improvements, lighting, landscaping and adding outdoor seating.
RALEIGH, N.C. — Alamo Drafthouse Cinema, an Austin, Texas-based theater chain, plans to open its first North Carolina theater in Raleigh. The Alamo Drafthouse Raleigh will feature 11 screens, 660 reclining seats and a bar and restaurant with 36 local beers on tap. Situated within the Longview Shopping Center on New Bern Avenue and King Charles Road, the theater is expected to open by the end of the year and employ roughly 160 people.
HOLLY SPRINGS, N.C. — Kite Realty Group Trust has selected Hendrick Construction to expand Holly Springs Towne Center, a Target-anchored shopping center located at the intersection of N.C. 55 and New Hill Road in the Raleigh suburb of Holly Springs. The Charlotte-based general contractor will expand the retail center by 22,250 square feet to make way for retailers such as 02 Fitness. Existing tenants at Holly Springs Towne Center include Marshalls, Pier 1, Ulta Beauty, Dick’s Sporting Goods, Petco, Michaels, Bed Bath & Beyond, DSW and a nine-screen AMC Theatres location. Hendrick Construction expects the additional space to be ready for interior buildout this summer.
CHARLOTTE, N.C. — American Realty Advisors and Stonemar Properties have partnered to acquire Ballantyne Village, a 171,559-square-foot mixed-use development located at 14825 Ballantyne Village Way in Charlotte. The sales price was undisclosed, but the Charlotte Business Journal reports that the buyers purchased the asset from a limited liability corporation controlled by Vision Ventures and Mount Vernon Asset Management for $43.2 million. Situated near Ballantyne Corporate Park, which recently sold for more than $1 billion, the development features 13 dining options, two schools, personal services providers, office space and outdoor gathering areas. Rob Carter, David Webb, Rad von Werssowetz and Alex Quarrier of Berkeley Capital Advisors represented the seller in the transaction.
GREENSBORO, N.C. — Vesper Holdings has acquired Campus Crossing Sherwood Forest, a 790-bed student housing community located near the University of North Carolina at Greensboro, for $36.5 million. The property comprises one-, two-, three- and four-bedroom units. Community amenities include a 12,000-square-foot clubhouse, swimming pool, hot tub, fitness center, rock wall, spin and yoga studios, a computer lab, game room, movie theater, tanning beds and a volleyball court. The new ownership plans to rebrand the community and execute $1.8 million worth of renovations to units, shared amenities and the property’s exterior. Vesper acquired the asset from an undisclosed, local owner in the off-market transaction.
CHARLOTTE, N.C. — Omni Hotels & Resorts has plans to implement a $26 million transformation of the 374-room Omni Charlotte Hotel located at the corner of South College and East Trade streets in Uptown Charlotte. Moncur Design Associates Inc. and CT + C Design Studio are spearheading the redesign, which features a new exterior, renovated lobby experience, updates to Trade Restaurant & Bar, new furniture in the guest rooms and suites, renovation of the 14th-floor club lounge and a rooftop pool deck and bar.
RALEIGH, N.C. — VitalSource Technologies, an education and technology firm, has expanded its footprint at 227 Fayetteville in downtown Raleigh. VitalSource, which moved into the mixed-use office building in 2015, will occupy an additional 11,163 square feet, resulting in a total of 33,151 square feet on three full floors. Other tenants at the office building include RATIO Architects, Cohera Medical, Indy Week and a newly announced, 26,000-square-foot YMCA. The owner of 227 Fayetteville, LRC Properties, recently completed a $14.5 million renovation of the 10-story building. Robin Roseberry Anders of NAI Carolantic represented the landlord in the lease deal.
GREENSBORO, N.C. — Colliers International has brokered the $20.8 million sale of Hidden Lakes Apartments, a 483-unit multifamily community located in Greensboro. Living Well Homes purchased the asset from CORE Realty Holdings Management Inc. Will Mathews and Brooks Colquitt of Colliers represented CORE Realty in the transaction. Colliers has brokered five sales on behalf of CORE Realty in the past 10 months.
CHARLOTTE, N.C. — Grubb Properties has unveiled the design for a 10-story office building the company is renovating on Mockingbird Lane in Charlotte’s Montford Park submarket. Known as 1515 Montford Park, the updated office building will feature a full glass façade with expansive windows, high ceilings, open floor plans, an outdoor terrace and an amenities lounge on the fifth floor featuring table games, bar top, lounge seating, big-screen TV and a stocked kitchen area. Office tenants will have access to a full-service fitness center and bike room at the adjacent 4601 Park Road building. Pfeiffer University Charlotte has pre-leased space at 1515 Montford Park. Space for lease on floors three through six will be available for near-term delivery, with a start on floors seven through 10 projected for the beginning of 2018.