Southeast

MIAMI — HFF has arranged the $48.7 million sale of the Pullman Miami Airport Hotel, a 281-room hotel in Miami’s Blue Lagoon Office Park. The hotel was constructed in 1986 and underwent a multimillion-dollar renovation in 2016. Amenities include 18,500 square feet of indoor and outdoor meeting and event space; an outdoor pool; tennis courts; fitness center; business center; and two food and beverage outlets, La Riviera and Le Bar. The hotel is located about four miles from Miami International Airport. Alexandra Lalos, Tony Malk and Daniel Peek of HFF represented the undisclosed seller in the transaction. The buyer was London & Regional, a London-based real estate firm.

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ARLINGTON, VA. — Square Mile Capital Management LLC has provided a $36 million loan to The Meridian Group for the acquisition of a five-story office building situated in Arlington’s Courthouse District. The office building is located at 2500 Wilson Blvd., about five miles north of Ronald Reagan Washington National Airport and about four miles west of downtown Washington, D.C. The loan also includes funds for capital improvement and leasing plans. Joe Donato and Kassi Sardidakis of Newmark Knight Frank arranged the financing.

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LITTLE ROCK, ARK. — Dougherty Mortgage LLC has provided a $22.8 million Fannie Mae refinancing loan to Bowman Pointe LLC for Phase II of Bowman Pointe in Little Rock. The second phase of Bowman Pointe will comprise 202 units. The loan features a 10-year term and a 30-year amortization. The borrower plans to build Bowman Pointe in three separate phases.

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RICHMOND, VA. — Brother International Corp., a manufacturer of printing, labeling and sewing machines, has signed a 461,700-square-foot lease to fully occupy Richmond’s largest ever speculative warehouse building. Brother International is relocating from New Jersey and is expected to move in to the new warehouse in the second quarter of this year. Matt Anderson of Colliers International represented the landlord, Panattoni Development Co., and Gregg Christoffersen and Andy Zezas of JLL represented Brother International in the lease transaction.

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For developers of affordable housing, a certain amount of NIMBYism is virtually inevitable. But the contentiousness of our times has amplified the rumbling of, “not in my backyard,” into a shout. Time consumed in countering the claims and tactics of affordable housing opponents can damage or derail a developer’s plans — delaying approvals, raising costs and in some cases causing the project to be abandoned altogether. At a time when large segments of the population have been priced out of many neighborhoods, the need to defuse NIMBYism is critical, not simply for preserving individual communities, but also for protecting the greater social fabric. Fortunately, time-tested strategies that have long been used to win over local affordable housing opponents become even more effective when shifted to web-based platforms. Savvy developers are now using their websites and social media to discredit stereotypes about affordable housing communities, demonstrate transparency and promote dialogue. When community members realize that affordable housing is something that can contribute to their neighborhood rather than detract from it, the conversation changes dramatically. Introduce Yourself with a Compelling Website Opponents of affordable housing often couch their objections as an appeal to the greater good, highlighting the potential effect a community …

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ST. PETERSBURG, FLA. — The Allen Morris Co., through an affiliate company named The Hermitage St. Pete LLC, has sold a 348-unit apartment community located at 151 7th St. South in downtown St. Petersburg. Toronto-based Brass Enterprises Inc. purchased the eight-story property, known as The Hermitage Apartment Homes, for $107.6 million. Walker & Dunlop represented The Allen Morris Co. in the transaction. Built in 2016, The Hermitage features a parking garage, rooftop terrace, sky lounge, resort-style swimming pool, fitness center, spa, package lockers, bike storage, business center, conference room, outdoor kitchen and fire pits, coffee bar and a pet grooming station. According to Apartments.com, monthly rental rates range from $1,565 for a studio apartment to $4,040 for a two-bedroom unit.

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MIAMI — CIM Group has completed construction of CAOBA, a 43-story apartment tower located at 698 N.E. 1st Ave. in downtown Miami. The 444-unit building is the first tower to open at the $2 billion mixed-use Miami Worldcenter development. The City of Miami has approved an adjacent 40-story, 429-unit tower. CIM Group has received a Temporary Certificate of Occupancy for CAOBA, allowing residents to move into their apartments, which range from studios to three-bedroom units. Amenities include a resort-style pool deck with downtown and ocean views, fitness center and a clubroom with a chef’s kitchen, as well as pet-focused facilities including a dog-walking lawn and a dog-wash area. CAOBA also includes more than 15,000 square feet of ground-floor retail space for shops and restaurants that will connect to Miami Worldcenter’s retail promenade and plaza currently under construction. The property is situated one block from Miami Central, downtown’s new transportation hub, and Brightline’s high-speed rail Miami terminal.

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ATLANTA — CBRE’s National Retail Partners has brokered the sale of Midtown Promenade, a 110,988-square-foot shopping center located at 931 Monroe Drive in Midtown Atlanta. Charlotte-based Asana Partners, which purchased Krog Street Market in Atlanta’s Inman Park neighborhood last year, bought the shopping center from an affiliate of Atlanta-based Ackerman & Co. for an undisclosed price. Chris Decoufle, Kevin Reavey and Kevin Hurley of CBRE represented the seller, Ackerman-Midtown Associates LLC. Anchored by Trader Joe’s, Midtown Promenade was 99 percent leased at the time of sale to tenants including Landmark Theaters Midtown Art Cinema, Starbucks Coffee, Richard’s Variety Store, MetroFresh, Apres Diem, The Highlander, The Independent and F.R.O.G.S. The shopping center sits on the edge of Piedmont Park along the Atlanta BeltLine’s Eastside Trail.

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ATLANTA — Selig Enterprises has added two new food and beverage tenants at The Works, a $1 billion mixed-use development underway on 80 acres in Atlanta’s Upper Westside neighborhood. The Atlanta-based developer has announced a new food hall known as Chattahoochee Food Works. Headed by Robert Montwaid of Gansevoort Consulting, the new food hall will occupy 16,000 square feet of space within The Makers Building, which will front a quarter-mile linear park known as The Spur. The food hall will feature vendors, a test kitchen, artisanal market shops, space for events and tables that double as charging stations. Selig will also add a new 9,000-square-foot taproom and macrobrewery for Scofflaw Brewing Co., an Atlanta brewery founded in 2016 by Matt Shirah and Travis Herman. The new location will serve as Scofflaw’s main research and development facility and will feature a programmed outdoor area with games and gathering places. Situated off Chattahoochee Avenue, The Works will span 350,000 square feet of retail and entertainment, 500,000 square feet of office space, 500 residences, 200 hotel rooms and 13 acres of green space. The 27-acre Phase I is currently under construction and scheduled for openings in early 2020.

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ALCOA, TENN. — SRS Real Estate Partners has arranged the sale of Hamilton Crossing, a 175,464-square-foot shopping center located in the Knoxville suburb of Alcoa. The property was 95 percent leased at the time of sale to tenants including Dick’s Sporting Goods, Ross Dress for Less, Michaels, PetSmart, Old Navy, Shoe Carnival, Buffalo Wild Wings, AT&T and Five Guys. Kyle Stonis, Pierce Mayson and Steve Miskew of SRS represented the undisclosed seller in the transaction. The buyer and terms of the sale were also not disclosed.

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