SOUTHERN SHORES, N.C. — Ziff Properties Inc. has sold The Marketplace at Southern Shores, a 128,376-square-foot, Food Lion-anchored shopping center in Southern Shores. Aston Properties purchased the asset from Ziff Properties for $14.5 million. Berkeley Capital Advisors represented Ziff Properties in the transaction.
NEW YORK — Berkadia Commercial Mortgage LLC has originated a $14.1 million loan to refinance three assisted living facilities in North Carolina. Christopher Fenton of Berkadia’s seniors housing and healthcare group originated the 35-year, fixed-rate financing through HUD’s 232/223(f) program on behalf of the borrower, an affiliate of Agemark Assisted Living. The properties total 111 assisted living units and are 90 percent occupied.
RALEIGH, N.C. — Grandbridge Real Estate Capital has arranged an $8.3 million loan for Six Forks Square, a 149,372-square-foot office campus in Raleigh. The office park was fully leased to the State of North Carolina at the close of the transaction. Robert Hukill and Wesley Fricks of Grandbridge originated the loan through BB&T Real Estate Funding on behalf of the owner, Heritage Capital Group, which purchased the office park for $12.4 million. The loan features three years of interest-only payments and a 25-year amortization schedule.
PINEVILLE, N.C. — Lincoln Property Co. and its affiliate Lincoln Harris have arranged the $35.3 million sale of The Centrum Shopping Center, a 270,747-square-foot retail center located at 10500 Centrum Parkway in Pineville. The asset is 99 percent leased to 17 tenants, including Kmart, Stein Mart and T.J. Maxx. Chris Cotten of Lincoln Property Co., along with Chris Vasbinder and Johno Harris of Lincoln Harris, represented the buyer, American Realty Capital-Retail Centers of America, in the transaction. Rob Carter of Berkeley Capital Advisors LLC represented the seller, Pineville Centrum LP, an entity comprised of DRA Advisors LLC and Kimco Realty Corp.
WINSTON-SALEM, N.C. — Co-developers Pennrose Properties LLC and C.A. Harrison Cos. LLC have opened Plant 64 Apartment Homes, a $54 million adaptive reuse project in downtown Winston-Salem. Originally built in 1916 as one of the oldest R.J. Reynolds tobacco buildings, the 423,000-square-foot project has been renovated to feature 242 one-, two- and three-bedroom apartments. Plant 64’s amenity package includes controlled access entry, a roof terrace with grills, outdoor theater, fitness center, swimming pool and a sports court. Bonaventure Property Management is managing Plant 64. Financing was provided by Bank of America N.A., Nationwide Insurance and Stonehenge Capital.
CHARLOTTE, N.C. — Lincoln Property Co., along with its affiliate Lincoln Harris, has brokered the $31.5 million sale of Northlake Commons Shopping Center, a 78,839-square-foot retail property located at 9335 Center Lake Drive in Charlotte. The property was 92 percent leased at the time of sale to tenants such as Party City, Panera Bread, Chili’s, Olive Garden, On the Border, Red Robin, AT&T, Sprint, Moe’s Southwestern Grill, Shane’s Rib Shack, Men’s Wearhouse and Chick-fil-A. Chris Cotton of Lincoln Property and Chris Vasbinder and Johno Harris of Lincoln Harris represented the buyer, American Realty Capital-Retail Centers of America, in the transaction. Rob Carter of Berkeley Capital Advisors LLC represented the seller, Northlake Commons LLC, a partnership between Ferncroft Capital and Crow Holdings. Lincoln Harris will handle the leasing and management duties at Northlake Commons.
CARY, N.C. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team based in Atlanta has arranged a $30 million refinance loan for Woodland Terrace of Cary. The 176-unit, 184-bed seniors housing community is located in Cary, about 12 miles west of Raleigh. The property features a four-story independent living building, a one-story Alzheimer’s/memory care building and 11 independent living duplex cottages. Woodland Terrace’s common areas include a lobby, main dining room, private dining room, craft/exercise room, library, small guest apartment, card room, billiards area, chapel, TV room, beauty/barber shop and six laundry rooms. The property was 98 percent occupied at the time of sale. Richard Thomas of Grandbridge originated the five-year, interest-only loan with a 30-year amortization schedule through Freddie Mac.
CHARLOTTE, N.C. — Beacon Partners has broken ground on a new five-story, Class A office building located at 1616 Camden Road at the corner of Camden Road and Kingston Avenue in Charlotte’s South End submarket. The property, known as 1616 Center, will feature 10,000 square feet of retail space on the ground floor and 65,000 square feet of office space on the four floors above. Construction began on Oct. 14, which included the demolition of two existing buildings on the site. The project’s construction is estimated to wrap up in the third quarter of 2015. Architect David Furman of Centro Cityworks designed the property to feature a fitness center, locker rooms, a pedestrian plaza, patio space for the restaurants and retail space on the ground floor and an executive conference room overlooking the East/West Lynx Light Rail line. Boatsman Gillmore Wagner has signed a 12,000-square-foot lease at 1616 Center. The design team includes general contractor Edifice and architect Axiom. Charles Swanson and Kristy Venning of Beacon Partners will handle leasing 1616 Center’s office space, and Aaron Ligon of Ligon Commercial Real Estate will handle leasing the project’s retail space.
CHARLOTTE, N.C. — NorthMarq Capital has arranged $18.8 million in acquisition financing for Colonial Plaza, a 202,810-square-foot, Class A suburban office building in Charlotte. Colonial Plaza is located at 2101 Rexford Road in Charlotte’s SouthPark submarket. Keith Braddish of NorthMarq Capital’s New York metro office arranged the balance sheet loan through GE Capital on behalf of the borrower, a joint venture between Highbrook Investment Management LLC and LRC Properties LLC.
CHARLOTTE, N.C. — Trinity Capital Advisors and joint venture partner DRA Advisors LLC, has acquired a 33-story, 584,315-square-foot office building located at 400 S. Tryon St. in downtown Charlotte for an undisclosed price. The building is 92 percent leased, with Duke Energy as its anchor tenant. Rob Cochran, Bill Collins, Jud Ryan and Craig Evans of Cassidy Turley represented the undisclosed seller in the transaction. Trinity Partners has been hired to lease and manage the asset.
