Southeast

Hunt Mortgage Provides $22.3M Loan for Multifamily Portfolio in Columbia, South Carolina

by Camren Skelton October 30, 2017

COLUMBIA, S.C. — Hunt Mortgage Group has provided $22.3 million in financing for the acquisition of a three-property multifamily portfolio in Columbia. Aline Capital LLC arranged the financing utilizing the Fannie Mae Green Rewards Program. In addition to purchasing the portfolio, the undisclosed borrower will use the funds to invest in energy efficient renovations and improve the apartment unit interiors. The portfolio totals 625 units and includes Park Place Apartments, Copperfield Apartments and Hunter’s Ridge Apartments.

October 30, 2017

Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges Sale of 18,316 SF Retail Center in Blacksburg, Virginia

by Camren Skelton October 30, 2017

BLACKSBURG, VA. — Cushman & Wakefield | Thalhimer has arranged the sale of University Crossroads, an 18,316-square-foot retail center located at the main entrance of Virginia Tech in Blacksburg. Eric Robison and Catharine Spangler of Cushman & Wakefield | Thalhimer arranged the sale on behalf of the undisclosed seller. Additional terms of the transaction were not disclosed. Constructed this year, the center is part of the larger University Crossroads mixed-use development, which includes additional retail space, a freestanding CVS/pharmacy and two hotels with a total of 250 rooms. Graystone Cos. developed University Crossroads. At the time of sale, the center was home to Chipotle Mexican Grill, Panda Express and Tropical Smoothie Café. John Nielsen of Cushman & Wakefield | Thalhimer completed the lease-up of the property. The Thalhimer Commercial Property Services team will manage the asset under the new ownership.

October 30, 2017

Kentucky Market Reports Retail Southeast Southeast Market Reports

Louisville Experiences New Retail Development Across the Metro Area

by John Nelson October 30, 2017

Louisville’s evolving retail market has presented a mix of new development and infill redevelopment opportunities that have created a substantial amount of activity in targeted areas. While rents and absorption activity have fluctuated, several of these new developments have proven that well-designed, experiential retail projects can still gain traction and create the buzz necessary for successful brick-and-mortar retail. No project in Louisville encapsulates this more than the Whiskey Row project that is taking place downtown in the central business district (CBD). It has been several years since retail development or retailers have ventured downtown, but this new project has created the level of excitement that has attracted national retailers. The driving force behind Whiskey Row is the tourism industry centered around Louisville’s well-known bourbon scene. The $30 million mixed-use project will be a redevelopment of former distilleries, with the developer preserving and restoring the historic facades, while building out world-class retail, restaurant and office space in the existing structures. The entire project will consist of 24,000 square feet of retail. With new distilleries and restaurants opening around the mixed-use development, retailers have been drawn by the foot traffic that will undoubtedly be delivered by tourists traveling to Louisville for the …

October 30, 2017

Florida Loans Retail Southeast

HFF Arranges $58M Refinancing of Nine-Property Retail Portfolio in Miami-Dade County

by Camren Skelton October 27, 2017

MIAMI — HFF has arranged the $58 million refinancing of a nine-property retail portfolio located throughout Miami-Dade County. Chris Drew, Nat Scarmazzi and Matthew McCormack of HFF arranged the 10-year, fixed-rate loan through a life insurance company on behalf of the borrower, MMG Equity Partners. The portfolio, which totals 275,979 square feet, includes Sunset Village Shopping Center, located at 10700 S.W. 72nd St. in Miami; Bird West Plaza, located at 14465 S.W. 42nd St. in Miami; Flagler Plaza, located at 5300 W. Flagler St. in Miami; Navarro Gables, located at 3949 S.W. 8th St. in Miami; Little River Retail, located at 8050-8100 N. Miami Ave. in Miami; Kendall Drive Retail, located at 9720 N. Kendall Drive in Miami; Navarro Miami Beach, located at 631 71st St. in Miami Beach; Colonial Shopping Center, located at 400 N.E. 125th St. in North Miami; and Navarro Sunny Isles, located at 18500 Collins Ave. in Sunny Isles Beach. Navarro Pharmacy anchors six of the properties, and President Supermarkets anchors two. The portfolio also includes one strip center. At the time of sale, the portfolio was 97 percent leased.

October 27, 2017

Florida Multifamily Seniors Housing Southeast

Cushman & Wakefield Brokers $27.5M Sale of Seniors Housing Community in St. Augustine

by Camren Skelton October 27, 2017

ST. AUGUSTINE, FLA. — Cushman & Wakefield has arranged the $27.5 million sale of Glenmoor, a 223-unit seniors housing community in St. Augustine. Allen McMurty, Paul Carr, David Kliewer and Megan Fetter of Cushman & Wakefield represented the seller, Life Care St. John’s Inc., an affiliate of Life Care Pastoral Services Inc., in the disposition. Orlando-based Westminster Communities of Florida acquired the asset and will rename the property Westminster of St. Augustine. Constructed in 2001, the community is located at 235 Towerview Drive in St. Augustine’s World Golf Village. Westminster St. Augustine includes a mix of cottage homes, independent living apartments, assisted living units and skilled nursing units. Community amenities include a clubhouse, heated outdoor lap pool, putting green, bocce court, pub and a fitness center. In addition, residents can enjoy benefits at World Golf Village, including access to two golf courses, a swimming pool, fitness center and social areas.

October 27, 2017

Mixed-Use Retail Southeast Virginia

Williams-Sonoma, Pottery Barn to Join Town Center of Virginia Beach

by Camren Skelton October 27, 2017

VIRGINIA BEACH, VA. — Williams-Sonoma and Pottery Barn have inked leases at the Town Center of Virginia Beach, a multi-phase mixed-use development in Virginia Beach. The homeware and home furnishings retailers will occupy a combined 18,000 square feet as part of the project’s sixth phase of development. A public-private partnership between the City of Virginia Beach and Virginia Beach-based Armada Hoffler Properties, Town Center is an ongoing development that started in 2000. The project spans 17 city blocks and features retail, dining, office space, residential units, hotels and entertainment venues. The two new retailers will be part of the latest addition to Town Center, which will include 39,000 square feet of retail and restaurant space, a 300-seat performing arts theater, an open-air public plaza and a pedestrian bridge. Williams-Sonoma and Pottery Barn are expected to open in spring 2018. Divaris Real Estate is handling retail leasing for Town Center, and S.L. Nusbaum is managing the project’s residential component.

October 27, 2017

North Carolina Office Southeast

Insite Properties Arranges $17.4M Sale of Office Building in Charlotte

by Camren Skelton October 27, 2017

CHARLOTTE, N.C. — Insite Properties has arranged the $17.4 million sale of an office building located at 8711 University East Drive in Charlotte on behalf of the buyer, Longvalley 1 LLC. Constructed in 1999, the 118,000-square-foot building features a parking ratio of 8.5 spaces per 1,000 square feet. Insite Properties will manage the property and handle leasing activity on behalf of the new ownership. At the time of sale, the building was fully leased.

October 27, 2017

Hospitality Mississippi Southeast

Hilton Opens 94-Room Home2 Suites Hotel in Metro Memphis

by Camren Skelton October 27, 2017

OLIVE BRANCH, MISS. — Hilton Worldwide has opened Home2 Suites by Hilton Olive Branch, a 94-room hotel in Olive Branch, roughly 30 miles southeast of Memphis, Tenn. Located at 7595 Lodging Lane, the hotel is within walking distance to shops and restaurants, as well as the Cherokee Valley Golf Club. Home2 Suites by Hilton Olive Branch features complimentary internet, communal spaces and standard Home2 Suites amenities, including Spin2 Cycle, a combined laundry and fitness area; Home2 MKT for grab-and-go items; a complimentary breakfast; and an indoor pool and outdoor patio with a grilling area. Lodging Lane Hospitality LLC manages the property.

October 27, 2017

Georgia Multifamily Southeast

Berkadia Arranges $27.9M Sale of Three-Property Multifamily Portfolio in Jacksonville

by Camren Skelton October 26, 2017

JACKSONVILLE, FLA. — Berkadia has arranged the $27.9 million sale of three apartment communities in Jacksonville. Tal Frydman, Greg Rainey and Cole Whitaker of Berkadia represented the seller, Nova Eagle, in the transaction. Infinity Acquisitions LLC acquired the assets. The portfolio includes: Reserve at Water’s Inlet, a 205-unit community located at 6100 Arlington Expressway; Magnolia I, a 276-unit community located at 2045 Jammes Road; and Magnolia II, a 112-unit community located at 2401 Jammes Road. Constructed in 1970, Reserve at Water’s Inlet features one- and two-bedroom apartment units. Community amenities include laundry facilities, a fitness center, business center and a pool. Magnolia I, constructed in 1965, includes one- to three-bedroom units and features barbecue/picnic areas, a clubhouse, on-site laundry facility and a swimming pool. Constructed in 1973, Magnolia II offers one- and two-bedroom units and features laundry facilities, 24-hour security camera monitoring, a swimming pool and a playground.

October 26, 2017

Georgia Multifamily Southeast

Starlight Buys Newly Built, 330-Unit Multifamily Community in Metro Atlanta

by Camren Skelton October 26, 2017

DULUTH, GA. — Starlight U.S. Multifamily has acquired The Heights at Sugarloaf, a 330-unit apartment community in Duluth, roughly 30 miles northeast of Atlanta. The sales price was not disclosed. Constructed this year by The Worthing Cos., The Heights at Sugarloaf is situated within the Sugarloaf Market development, a 30-acre mixed-use project. Upon completion, Sugarloaf Market will feature 80,000 square feet of commercial space including a national grocery retail anchor tenant and a future seniors housing community. The Heights at Sugarloaf includes five three- and four-story buildings. Community amenities include a fitness center, business center, package concierge system, resort-style swimming pool, gas grilling stations and a courtyard with park benches and a dog park.

October 26, 2017

Newer Posts

Older Posts