Southeast

Hunt Mortgage Provides $24.5M Refinancing for Two Apartment Communities in South Florida

by Camren Skelton February 1, 2018

LAKE WORTH AND HIALEAH, FLA. — Hunt Mortgage Group has provided two loans totaling $24.5 million for the refinancing of two multifamily properties in South Florida: Village at Lake Osborne Apartments in Lake Worth and Amelia Oaks Apartments in Hialeah. Hunt Mortgage provided a $13 million, 10-year Fannie Mae loan for Village at Lake Osborne on behalf of the borrower, AHS Development Group LLC. The loan features two years of interest-only payments and a 30-year amortization schedule. Constructed in 2017, the 118-unit property, located at 2430 Lake Worth Road, includes three, three-story apartment buildings and 168 parking spaces. In addition, the gated community features nearby public transportation, a fitness center and a pool. In Hialeah, Hunt Mortgage provided a $10.5 million Fannie Mae loan for the refinancing of Amelia Oaks on behalf of the borrower, Hialeah 2.71 Acres LLC. The 10-year loan features five years of interest-only payments and a 30-year amortization schedule. Located at 295 W. 79th Place, Amelia Oaks features 82 units housed in five, three-story buildings and 164 parking spaces.

February 1, 2018

Florida Hospitality Loans Southeast

Aztec Group Secures $15.2M Construction Loan for Comfort Inn Hotel Near Miami

by Camren Skelton February 1, 2018

MIAMI SPRINGS, FLA. — Aztec Group Inc. has arranged a $15.2 million construction loan for the development of a new Comfort Inn & Suites hotel located at 665 Mokena Drive in Miami Springs. Aztec Group arranged the loan through TotalBank on behalf of the developer, 665 Mokena Partners LLC, an entity led by Steven Marin and Michael Pfeffer. The eight-story hotel will include 120 guestrooms and will feature complimentary breakfast, a fitness center, outdoor swimming pool and deck, business center, sundries shop, guest laundry and meeting space. Travelers Hotel Group will manage the hotel, which is expected to open mid-2019.

February 1, 2018

Industrial South Carolina Southeast

SunCap Acquires 236,800 SF Industrial Building in Greenville

by Camren Skelton February 1, 2018

GREENVILLE, S.C. — SunCap Property Group has acquired Forrester Park, a three-building, 236,800-square-foot distribution and light-manufacturing center located at 201 Forrester Drive in Greenville. Other terms of the deal were not disclosed. The building is located one mile from Interstate 85 and adjacent to Millennium Park and the Clemson University International Center for Automotive Research (ICAR). At the time of sale, Forrester Park was fully leased to tenants including Gexpro Services, Safelite Auto Glass, Woodward, Trust Technologies and Aerodyne Alloys. Colliers International’s Greenville office will handle the property’s leasing assignment on behalf of SunCap.

February 1, 2018

Florida Retail Southeast

Sembler, Forge Capital Purchase 185,000 SF Publix-Anchored Shopping Center in Gainesville

by Camren Skelton February 1, 2018

GAINESVILLE, FLA. — The Sembler Co., in partnership with Forge Capital Partners, has acquired Gainesville Shopping Center, a 185,000-square-foot retail center located at the northwest corner of North Main Street and N.W. 10th Avenue in Gainesville. The companies acquired the asset through their investment fund, Forge Real Estate Partners III (FREP). Other terms of the deal were not disclosed. At the time of sale, Gainesville Shopping Center was 91 percent leased to tenants including Publix, Beauty Max and Family Dollar. The Sembler Co. will manage the property and handle the center’s leasing assignment.

February 1, 2018

Maryland Multifamily Southeast Student Housing

Safanad Limited, Vie Holdings Acquire Student Housing Community in Metro D.C. for $69.5M

by Camren Skelton January 31, 2018

HYATTSVILLE, MD. — Dubai-based Safanad Limited, in partnership with Miami-based Vie Holdings, has acquired The Towers at University Town Center, a student housing community in Hyattsville, for $69.5 million. The name of the seller was not disclosed. The community is located roughly seven miles northeast of Washington, D.C., and caters to students attending Howard University, the University of Maryland and other colleges and universities in the metro D.C. area. The new ownership will invest $5 million to renovate the property with new rooftop finishes, expanded services, upgraded units and additional facilities. The Towers comprises two 16- and 17-story buildings and includes two-, three- and four-bedroom units. In addition, the community is located within walking distance to two Metro subway stations and its amenities include a pool, business center, 24-hour security services and garage parking.

January 31, 2018

Mixed-Use Multifamily Retail Southeast Tennessee

Stiles, Hensler to Develop 625,000 SF Mixed-Use Project in Nashville

by Camren Skelton January 31, 2018

NASHVILLE, TENN. — Nashville-based Hensler Development Group, in conjunction with South Florida-based Stiles, has unveiled plans to develop Peabody Union, a 625,000-square-foot mixed-use project in Nashville. At full build-out, the development will feature 105,000 square feet of retail, 170,000 square feet of Class A office space and a 25-story, 350,000-square-foot residential tower overlooking downtown and the Cumberland River. The retail space will include flagship anchors, health and fitness concepts, local artisans and restaurants. In addition, Peabody Union will showcase local artistry and technology from the neighboring Entrepreneur Center. The joint venture paid $16 million to the Metropolitan Development and Housing Agency (MDHA) for the five-acre site, situated on the northern bluff of Rolling Mill Hill, and will contribute an additional $1 million toward affordable housing in Nashville. As part of the deal, MDHA will commit $17.5 million in tax increment financing (TIF) to fund construction of approximately 400 MDHA-controlled garage spaces, as well as traffic signalization, streetscapes and greenway improvements along the Cumberland River. Peabody Union, along with neighboring retail and office developments, will establish a new “Design District” on approximately 15 acres along the Cumberland River. Upon completion of all phases in 2023, the new Design District will feature roughly …

January 31, 2018

Florida Multifamily Southeast

Marcus & Millichap Brokers $30M Sale of Multifamily Community in Tampa Bay Area

by Camren Skelton January 31, 2018

BRANDON, FLA. — Marcus & Millichap has arranged the $30 million sale of Lakeside Apartment Homes, a 228-unit apartment community in the Tampa Bay suburb of Brandon. Ned Roberts, Nicholas Meoli and Michael Donaldson of Marcus & Millichap represented the seller and procured the buyer, both of which are Florida-based limited-liability companies. The new owner will upgrade the property’s common areas and unit interiors. Constructed in 1985, Lakeside Apartment Homes is located directly across from Brandon Regional Hospital. Community amenities include a swimming pool, sports courts, car-care center, storage units and a lakeside gazebo.

January 31, 2018

Florida Loans Office Southeast

NorthMarq Arranges $25M Sale of, Acquisition Financing for Office Building in Melbourne, Florida

by Camren Skelton January 31, 2018

MELBOURNE, FLA. — NorthMarq Capital has arranged the $25 million sale of a 191,500-square-foot office building located at 1990 NASA Blvd. in Melbourne. The building is home to General Electric Co. Dallas-based Reserve Cap Partners acquired the asset from an undisclosed seller, and Will James of NorthMarq brokered the sale. In addition, NorthMarq arranged a 10-year, CMBS acquisition loan on behalf of Reserve Cap Partners.

January 31, 2018

Retail Southeast Tennessee

Big V Capital Buys 276,448 SF Shopping Center in Metro Nashville

by Camren Skelton January 31, 2018

HERMITAGE, TENN. — Big V Capital LLC has acquired Oakwood Commons, a 276,448-square-foot shopping center located at 4670 Lebanon Pike in Hermitage, roughly 16 miles northeast of Nashville. Other terms of the deal were not disclosed. Publix, Bed Bath & Beyond, PetSmart and Ross Dress for Less anchor the center, which was 88.6 percent leased at the time of sale. Additional tenants include Dollar Tree, Bank of America, KFC, Wells Fargo and Goody’s. Big V Properties, the property management affiliate of Big V Capital, will manage Oakwood Commons.

January 31, 2018

Georgia Office Southeast Top Stories

Portman Holdings Secures $150M Construction Financing for Office Tower in Midtown Atlanta

by Nellie Day January 31, 2018

ATLANTA — Portman Holdings has secured $150 million in financing to build a 21-story office building in Atlanta’s Technology Square. The 352,000-square-foot, build-to-suit Anthem Technology Center will be situated near Georgia Tech in Midtown. This area is known as an innovation hotbed with research facilities, incubators, technology start-ups and the Georgia Institute of Technology campus. Healthcare insurance giant Anthem (NYSE: ANTM) will occupy the space. The offices will serve as a hub for approximately 3,000 IT professionals seeking to enhance consumer healthcare experiences, improve the quality of care and lower healthcare costs. The building will feature a 14,000-square-foot terrace area with green space. Anthem placed an emphasis on energy and water efficiency, indoor environmental quality and active design standards. The building will also include 7,000 square feet of retail space and alternating two-story spaces connected by a staircase to promote collaboration. The project’s groundbreaking is scheduled for Feb. 21. Construction is expected to take two years. John Portman & Associates designed the building for Anthem. PCCP contributed equity financing, while SunTrust acted as the lead lender. Regions also served as a lender for the project. SunTrust will open a full-service branch inside Anthem Technology Center. Atlanta-based Portman Holdings is a …

January 31, 2018

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