Southeast

Cushman & Wakefield Brokers $17.7M Sale of Multifamily Community in East Atlanta

by Camren Skelton January 22, 2018

ATLANTA — Cushman & Wakefield has arranged the $17.7 million sale of Broadway at East Atlanta, a 176-unit apartment community located at 1930 Flat Shoals Road in East Atlanta. Tyler Averitt and Robbie O’Bryan of Cushman & Wakefield arranged the transaction on behalf of the seller, Elite Street Capital. New Jersey-based Liquid Capital acquired the property using a fixed-rate Fannie Mae loan. Constructed in 1967, Broadway at East Atlanta features a fitness center, pool with grilling area, dog park and a playground.

January 22, 2018

Industrial Loans Maryland Southeast

Ready Capital Closes $14M Loan for Acquisition, Renovation of Industrial Asset in Metro Baltimore

by Camren Skelton January 22, 2018

HALETHORPE, MD. — Ready Capital Structured Finance has closed a $14 million loan for the acquisition, renovation and stabilization of a 313,000-square-foot industrial property located at 2209 Sulphur Spring Road in Halethorpe, roughly seven miles south of Baltimore. The name of the borrower was not disclosed. The 36-month, non-recourse, floating-rate loan features two extension options and flexible prepayment. The borrower plans to fully renovate interiors, as well as upgrade the building’s exterior and infrastructure. Following the renovations, the borrower will re-tenant the property at market rental rates.

January 22, 2018

Market Reports North Carolina Office Southeast Southeast Market Reports

Charlotte Sees New Construction, Renovations of Second-Generation Office Space

by John Nelson January 22, 2018

It’s impossible to ignore the ongoing boom of new commercial real estate development in downtown Charlotte. Get a glimpse of the skyline from the Interstate 277 loop and you can see the already-present structures standing tall among the handful of cranes and half-completed construction filling in the gaps. More than a dozen projects are currently underway in Center City, with more expected during the next 12 to 18 months. New and Improved Recently opened towers, like 300 South Tryon and 615 South College, have attracted major corporate relocations to downtown CBD, including Regions Bank and Sitehands. Ally Bank just announced its 400,000-square foot move to Ally Charlotte Center, and Crescent Communities just kicked off development of a new tower in the burgeoning Stonewall corridor for a 2020 completion date. Companies seeking the top-of-market space in the city’s newest downtown office developments want to have a presence in the heart of Charlotte’s energy. There, they can recruit elite talent and build their brand. Of course, that presence comes with the highest rental rates and parking costs, in addition to elevated tenant-buildout budgets in a market where construction costs continue to rise. At the other end of the spectrum, some are finding …

January 22, 2018

Office Southeast Virginia

USAA, Lowe Acquire Three-Building, 566,000 SF Office Complex in Metro D.C.

by Camren Skelton January 19, 2018

ALEXANDRIA, VA. — A joint venture between USAA Real Estate and Lowe has acquired Park Center, a three-building, 566,000-square-foot office complex in Alexandria, roughly eight miles north of Washington, D.C. The adjacent office buildings are located at 4300 King St., 3101 Park Center Drive and 4401 Ford Ave. Joe Carrol of Lowe and Bruce Childs of USAA Real Estate led the acquisition team internally. HFF represented the undisclosed seller, and arranged acquisition financing for the asset on behalf of the new owners. The sales price was not disclosed. Lowe and USAA most recently teamed up on the development of the 705,000-square-foot National Science Foundation Headquarters building, which was completed in late 2017 at 2415 Eisenhower Ave. in Alexandria.

January 19, 2018

Multifamily South Carolina Southeast Student Housing

Valeo, Harrison Street to Deliver 994-Bed Student Housing Community Near Clemson University

by Camren Skelton January 19, 2018

CLEMSON, S.C. — Valeo Groupe US, in conjunction with equity partner Harrison Street Real Estate Capital LLC, has unveiled plans to deliver Epoch Clemson, a 310-unit, 994-bed student housing community serving Clemson University in Clemson. Ed Coco, Matt Casey and Libby Malloy of HFF secured a floating-rate construction loan for the property on behalf of the developers. Other terms of the deal were not disclosed. Epoch Clemson will be situated along the shoreline of Lake Hartwell, just off U.S. Highway 123/Clemson Boulevard. The property will comprise 15 buildings with a variety of cottage, townhome, brownstone and apartment units. Community amenities will include a resort-style pool and clubhouse, volleyball court, 24-hour fitness center, computer center and landscaped courtyards. With more than 3,600 feet of Lake Hartwell frontage, the community will also feature waterfront amenities including a private beach, boat docks, lakeside pedestrian paths and select units with lake views. The community is slated for completion in summer 2019.

January 19, 2018

Georgia Loans Multifamily Southeast

NXT Provides $30M Refinancing for New Apartment Community in Atlanta’s Buckhead District

by Camren Skelton January 19, 2018

ATLANTA — NXT Capital has provided a $30 million first mortgage loan for the refinancing of Ardmore & 28th, a 165-unit apartment community located in Atlanta’s Buckhead district. Richard Jordan of CBRE arranged the loan through NXT on behalf of the borrower and developer, a joint venture between Enfold Properties and CF Real Estate Services. Construction on the property was completed at the end of 2016. Ardmore & 28th features apartment and townhome-style units, as well as a swimming pool with a sundeck, outdoor grilling kitchen, fitness center with yoga and Pilates room, clubhouse, coffee bar, car care facility, dog park and a dog washing station. In addition, the property is located adjacent to the Atlanta BeltLine’s Northside Trail.

January 19, 2018

Civic Louisiana Southeast

Roy Anderson to Lead $17M Construction Project at WWII Museum in New Orleans

by Camren Skelton January 19, 2018

NEW ORLEANS — Roy Anderson Corp., a subsidiary of Tutor Perini Corp., has unveiled plans to construct the Hall of Democracy at the National WWII Museum’s campus in New Orleans. The $17 million pavilion will total 34,800 square feet and will be dedicated to the museum’s research, WWII content, expertise and outreach. The pavilion will house a special exhibits gallery; the Institute for the Study of War and Democracy, which is expected to be the hub of World War II knowledge and education for the museum and the general public; a WWII Media and Education Center with production studios and broadcast capabilities; and a library. Construction on the project is expected to commence later this month or in early February, with completion slated for the summer of 2019.

January 19, 2018

Georgia Multifamily Seniors Housing Southeast

Watercrest, Waypoint to Develop 107-Unit Seniors Housing Community in Metro Atlanta

by Camren Skelton January 19, 2018

NEWNAN, GA. — A joint venture between Watercrest Senior Living Group and Waypoint Residential has unveiled plans for Watercrest Newnan Assisted Living and Memory Care Community in the Atlanta suburb of Newnan. The 107-unit, resort-style seniors housing community will be situated on nine acres. Groundbreaking is scheduled for next month, with an opening slated for spring 2019. Vero Beach, Fla.-based Watercrest specializes in the development and operations of assisted living and memory care communities, market repositioning and advisory services. The project represents Waypoint’s entry into the seniors housing sector, having previously worked as an investor in conventional multifamily and student housing. D2 Architecture designed the 92,000-square-foot project.

January 19, 2018

Healthcare North Carolina Southeast Top Stories

CBRE Arranges $142M Sale of Duke University Medical Office Building in North Carolina

by Kristin Harlow January 19, 2018

DURHAM, N.C. — CBRE has arranged the sale of Hock Plaza, a 327,160-square-foot medical and educational office building in Durham. Harrison Street Real Estate Capital LLC acquired the 12-story building from Hines. The sales price was $142 million, according to the Triangle Business Journal. Constructed in 2004, Hock Plaza is situated on more than 2.5 acres at 2424 Erwin Road, adjacent to Duke University Hospital. The building is home to 34 different Duke University medical institutes, centers and research functions, including Duke Cancer Institute, the Center for Autism and Brain Development, and the Center for Smoking Cessation. The property, which includes a 1,057-space parking garage, is located within North Carolina’s Research Triangle. Jay O’Meara, Will Yowell, Lee Asher, Chris Bodnar and Ben Kilgore of CBRE arranged the transaction on behalf of the seller. The sales price was a record price per square foot in the state of North Carolina, according to O’Meara. Chicago-based Harrison Street is a real estate investment management firm focused on the education, healthcare and storage sectors. The firm has approximately $12.8 billion in assets under management. Houston-based Hines is a privately owned global real estate investment, development and management firm with $100 billion in assets under management. — …

January 19, 2018

Alabama Industrial Southeast

Mazda, Toyota Select Huntsville for New $1.6B Auto Manufacturing Plant

by Camren Skelton January 18, 2018

HUNTSVILLE, ALA. — Mazda and Toyota leaders have selected Huntsville as the site of their new joint venture auto manufacturing plant. The automakers will invest $1.6 billion in the facility, located approximately 14 miles from Toyota’s existing Huntsville plant. The new plant will have the capacity to build 300,000 vehicles annually, with production split evenly between the two lines for each company to produce the Toyota Corolla and Mazda’s crossover model that will be newly introduced to the North American market. The facility is expected to create up to 4,000 jobs, and production is expected to begin by 2021. The joint venture plant marks the 11th U.S. manufacturing facility for Toyota.

January 18, 2018

Newer Posts

Older Posts