CLARKSTON, GA. — Berkadia has arranged the $32.5 million sale of Lakes at Indian Creek, a 603-unit affordable housing community in Clarkston, located roughly 18 miles northeast of Atlanta. Jeremiah Jarmin and Judy MacManus of Berkadia arranged the transaction on behalf of the seller, Alden Torch Financial. In addition, Josh Finley of Berkadia arranged a 10-year, $28 million Fannie Mae loan on behalf of the buyer, EB Real Estate Group. Lakes at Indian Creek is an affordable housing community under the Section 42 Low Income Housing Tax Credit Program. The community features a mix of one- to three-bedroom units and townhomes. Amenities include a picnic area, tennis courts, swimming pools, fitness center and a computer center.
ATHENS, GA. — HFF has arranged a $30.4 million loan for the refinancing of River Club Apartments and River Club Townhomes, two student housing assets located roughly two miles from the University of Georgia (UGA) campus in Athens. The adjacent communities operate as a single property, and include a total of 1,134 beds. David Keller and Mark Sixour of HFF arranged the seven-year, floating-rate loan through Freddie Mac’s Capital Markets Execution program on behalf of the borrower, an entity managed and controlled by The Scion Group. River Club Apartments includes a mix of two- to four-bedroom units with private bathrooms, hardwood-style plank flooring and flat screen TVs. The adjacent River Club Townhomes features three- and four-bedroom floor plans within two-story townhome units. Community amenities at both properties include swimming pools; volleyball, basketball and tennis courts; fitness centers; computer labs; car wash stations; private tanning salons; and on-site bus stops with service to the UGA campus.
ATLANTA — Zeller Realty Group (ZRG) has unveiled its renovation plans for 100 Peachtree, a 620,000-square-foot, Class A office tower in downtown Atlanta. ZRG — which is a tenant at the building — has partnered with architecture firm Gensler to redesign the property’s amenity spaces. Renovations call for a modernized lobby, new outdoor gathering spaces, soft seating, an interactive screen, public art installations, interactive conference center, tenant lounge and an upgraded fitness center. In addition, ZRG will work with Georgia’s Own Credit Union — also a 100 Peachtree tenant — and Skanska USA to bring the first digital building-top signage to Atlanta. The 174-foot long digital sign will display Georgia’s Own Credit Union’s logo on an energy-efficient, LED sign, as well as community-oriented messages promoting local and charitable events. Amenity upgrades at 100 Peachtree are expected to be completed in early 2019, and the new digital building-top signage is set to be unveiled in time to welcome fans to Atlanta for Super Bowl LIII. In addition to ZRG and Georgia’s Own Credit Union, 100 Peachtree is home to The Boston Consulting Group, which occupies 60,000 square feet.
WINSTOM-SALEM, N.C. — Marcus & Millichap has brokered the $20.9 million sale of Deacon Properties, a 64-home, 251-bed student housing portfolio located within walking distance of Wake Forest University in Winston-Salem. Nate McDaniel, Allen Smith and Ian Turnbull of Marcus & Millichap arranged the transaction on behalf of the seller, Deacon Rental Properties, and procured the buyer, Mission Bay Investments. The properties feature three- and four-bedroom units ranging from 1,800 to 2,100 square feet. The portfolio was 98 percent occupied at the time of sale.
DANIA BEACH, FLA. — Colliers International has arranged the $13.9 million sale of a 28-acre industrial site located at 4030 State Road 7 in Dania Beach. Liberty Property LP, a subsidiary of Liberty Property Trust, acquired the land with plans to build the 300,000-square-foot Liberty 595 Distribution Center on the site. Steven Wasserman and Brooke Berkowtiz of Colliers International arranged the transaction on behalf of the seller, the City of Fort Lauderdale. The land once served as a composting site for the City of Fort Lauderdale, and was later used by the city’s Public Works Department.
CASSELBERRY, FLA. — ARA Newmark has arranged the $72.3 million sale of Bainbridge Crossing, a 336-unit apartment community located in Casselberry, roughly 10 miles north of downtown Orlando. Scott Ramey and Patrick Dufour of ARA Newmark arranged the transaction on behalf of the seller and developer, The Bainbridge Cos. TH Real Estate, an affiliate of Nuveen, acquired the asset. Matthew Williams of NKF Capital Markets secured acquisition financing on behalf of TH Real Estate. Constructed in 2017, Bainbridge Crossing features a clubhouse, resort-style pool, fitness center with a separate yoga room and a dog park. The community was approximately 96 percent occupied at the time of sale.
ORLANDO, FLA. — CBRE has arranged the $64.5 million sale of Alexan Crossroads, a 314-unit apartment community located at 7261 Crossroads Garden Drive in Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the seller and property developer, Trammell Crow Residential. Harbor Group International acquired the asset, which was completed in 2016 and stabilized in 2017. Alexan Crossroads features a clubhouse, saltwater pool with cabanas and grilling stations.
DECATUR, GA. AND CHANDLER, ARIZ. — Westwood Financial LLC has acquired two Sprouts-anchored retail centers located in Decatur and Chandler for a combined $66.2 million. The properties were acquired in separate transactions, and the individual sales prices were not disclosed. In Atlanta, Westwood acquired Decatur Crossing, an 81,900-square-foot shopping center that was constructed in 2017. Atlanta-based Fuqua Development developed and sold the property, according to the Atlanta Business Chronicle. HFF arranged a loan through Unum Group on behalf of Westwood. Decatur Crossing was fully leased at the time of sale. In Chandler, an eastern suburb of Phoenix, Westwood acquired Boardwalk at Andersen Springs. Constructed in 2005, the property is the home of the original Sprouts Farmers Market. HFF arranged an acquisition loan through Nationwide Life Insurance Co. on behalf of Westwood. Boardwalk at Andersen Springs was 97 percent leased at the time of sale.
POMPANO BEACH, FLA. — Bridge Development Partners has signed its first tenant at Bridge Point Powerline Road, a 467,832-square-foot industrial park under development in Pompano Beach. TSF Sportswear LLC, a Florida-based wholesale apparel distributor, will relocate its existing Pompano Beach headquarters to the new facility, fully occupying the 172,927-square-foot Building 1. Tony Hoover of CBRE arranged the lease on behalf of Bridge, the project developer. Bridge Point Powerline Road will feature three buildings and include Class A warehouse, distribution and flex/showroom space. All buildings will feature 32-foot clear heights, 54-foot column spacing, 60-foot speed bays, T-5 energy efficient lighting and ESFR sprinkler systems. Bridge expects to wrap up construction on the park in the third quarter of 2019.
HEPHZIBAH, GA. AND CAYCE, S.C. — Marcus & Millichap has brokered the $13.4 million sale of two properties leased to Walmart Neighborhood Market in Hephzibah and Cayce. The Hephzibah property is located at 3697 Windsor Spring Road, roughly 14 miles south of Augusta. The property sold for $6.6 million. The Cayce building is located at 1355 Knox Abbott Drive, roughly four miles south of Columbia, and sold for $6.8 million. Both properties span 41,921 square feet and were constructed in 2015. Don McMinn of Marcus & Millichap’s Taylor McMinn Retail Group arranged the transaction on behalf of the seller, Fletcher Bright Co. Harry Collison Jr. of The Real Estate Consortium represented the buyer, McKinley Cos. LLC.