KISSIMMEE AND OAKLAND PARK, FLA. — Walker & Dunlop has arranged a combined $63.6 million in financing for two apartment communities in Florida. The financing included a $38.1 million loan for Caribbean Isle in Kissimmee and a $25.5 million loan for Forest Park in Oakland Park. Geoff Smith, Kimberly Riordan and Randy Efron of Walker & Dunlop secured the three-year, floating-rate mortgage with interest-only payments on behalf of the apartment owners, Pilgrim V and GRA Equities.
SUMMERVILLE, S.C. — Frampton Construction Co. LLC has finished development of The Blake at Carnes Crossroads, a 100-unit seniors housing community in Summerville, roughly 25 miles northwest of Charleston. The 84,000-square-foot building will include assisted living and memory care suites. The Blake is situated on 3.7 acres within the master-planned Carnes Crossroads community, developed by Daniel Island Co. The development features medical offices, retail, restaurants, a school, parks and a church. Frampton Construction partnered with Cardinal Ventures, along with its management company Blake Management Group, to develop The Blake.
ROCKVILLE, MD. — Finmarc Management Inc. has acquired a four-building warehouse portfolio in Rockville, roughly 17 miles north of Washington, D.C., for $8.6 million. Located at 627, 649 and 655 N. Horners Lane and 202 Mason Drive, the portfolio comprises 123,000 square feet. Jay Clogg of Jay Clogg Realty Group Inc. represented the undisclosed seller in the transaction and will handle the property’s leasing assignment. At the time of sale, the portfolio, known as the EU Services Buildings, was fully leased to Envelopes Unlimited, an envelope printing company. The buildings feature ceiling heights ranging from 14 to 24 feet, multiple loading docks, drive-in doors and a 120-space free-surface parking lot.
RALEIGH, N.C. — Trinity Partners has secured an 81,032-square-foot lease for WeWork, a shared office space provider, at One Glenwood, an $86 million office building under development in Raleigh. William Allen and Alex Dunn of Trinity Partners represented the building’s owner and developer, Heritage Properties Inc., in the lease transaction. Jason High and John Daly of CBRE represented WeWork. Upon completion, One Glenwood will total 227,500 square feet, including 15,000 square feet of street-level retail space. WeWork will be an anchor tenant, occupying floors three through five. One Glenwood will be WeWork’s first location in Raleigh and its second office in the Carolinas. The office building is slated to open in early 2019.
ANNAPOLIS JUNCTION, MD. — Somerset Construction Co. and Armada Hoffler Properties, the developers behind Annapolis Junction Town Center, have opened the development’s multifamily component, The Residences at Annapolis Junction. The five-story, 416-unit apartment community includes a mix of studio, one- and two-bedroom units ranging in size from 520 square feet to 1,629 square feet. The LEED Gold-certified property features energy-efficient heating, ventilating and air-conditioning and central hot water systems, low-flow plumbing fixtures and Energy Star-rated appliances. Community amenities include a fitness center, media center, community kitchen, business center, pet spa and a saltwater swimming pool with cabanas, grills and gazebos. S.L. Nusbaum Realty Co. will manage the property. Annapolis Junction Town Center is a 19-acre mixed-use, transit-oriented development and is situated adjacent to the Savage Maryland Rail Commuter Rail Station roughly halfway between Baltimore and Washington, D.C. The property is approximately 25 miles northwest of the United States Naval Academy. St. John Properties is partnering with Somerset Construction to develop the office and retail space within Annapolis Junction Town Center.
KISSIMMEE, FLA. — CBRE has brokered the $49.5 million sale of Lake Tivoli Apartments, a 384-unit multifamily property located at 851 Lake Tivoli Blvd. in Kissimmee, roughly 22 miles south of Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller, Lake Tivoli Apartments LLC. Newport News, Va.-based Chandler Residential acquired the asset. The property comprises 36 two- and three-story buildings. Community amenities include a lakeside sundeck, pool, tennis, racquetball and basketball courts, clubhouse, fitness center and a spa. Lake Tivoli Apartments was 97 percent occupied at the time of sale.
SAVAGE AND ELKRIDGE, MD. — Terreno Realty Corp. has sold two industrial properties in metro Baltimore for $40.5 million. The portfolio includes a 99,000-square-foot industrial building situated on roughly 12.6 acres at 8730 Bollman Place in Savage, roughly 18 miles southwest of Baltimore, and two industrial buildings totaling 349,000 square feet that are situated on approximately 17.9 acres at 6675 Amberton Drive and 6660 Santa Barbara Road in Elkridge, roughly 11 miles southwest of Baltimore. Both properties were 100 percent leased at the time of sale. The buyer was not disclosed.
NAPLES, FLA. — KeyBank Real Estate Capital has provided a $50 million bridge loan for the acquisition of Alvista at Laguna Bay Apartments, a 426-unit multifamily community in Naples. Alan Isenstadt of KeyBank originated the 90-day loan on behalf of the borrower, Axonic Properties LLC, a New York City-based real estate private equity firm. KeyBank plans to refinance the bridge loan through agency permanent financing. Constructed in 1990, Alvista at Laguna Bay Apartments is situated on 38 acres and comprises 28 two-story buildings. Community amenities include two pools, a fitness center, lighted tennis courts, dog park and an outdoor grilling area.
ATLANTA — Cushman & Wakefield has secured a 58,558-square-foot lease renewal and 18,339-square-foot lease expansion with Resurgens Orthopaedics at Doctors Center I-III located on the Emory Saint Joseph’s Hospital campus in Atlanta. George Olmstead of Cushman & Wakefield represented the landlord, Lillibridge Heathcare Services, a wholly owned subsidiary of Ventas Inc., in the lease transaction. Michael Lipton and Andrew Walker of Colliers International represented Resurgens Orthopaedics. In addition to the lease expansion and renewal, Cushman & Wakefield arranged a 17,068-square-foot lease with an affiliated surgery center entity at Doctors Center. In conjunction with the transactions, Lillibridge has plans for a multimillion-dollar renovation of the healthcare property that will begin in the second half of the year. The landlord expects to complete the renovation by early 2019.
CHAMBLEE, GA. — CF Real Estate Services has opened Olmsted Chamblee Apartments, a 283-unit multifamily community located at 5193 Peachtree Blvd. in Chamblee, roughly 15 miles north of downtown Atlanta. The asset is situated across the street from the Chamblee MARTA rail station and two blocks from a new Whole Foods Market opening at Peachtree Station. The apartment community includes one-, two- and three-bedroom units with granite countertops, energy-efficient appliances and windows, Nest thermostats and walk-in closets. Community amenities include co-working office space, a swimming pool, outdoor grills, 24-hour fitness facility, indoor bocce ball court, movie room, community kitchen, artist studio, mailroom, bike storage and The Workshop, which features tables and sinks for DIY projects. The property also features a 37-foot wide marquee sign. Olmsted Chamblee Apartments was 50 percent occupied at opening.