Southeast

Randolph Williamson Completes Construction of The Lodge by Chateau Elan in Georgia

by John Nelson January 12, 2017

BRASELTON, GA. — Peachtree City, Ga.-based Randolph Williams has completed construction of The Lodge by Chateau Elan, a new Hampton Inn & Suites by Hilton hotel located on the estate of Chateau Elan in Braselton. Located at 5159 Golf Club Drive, the 95-room hotel will feature free Wi-Fi, a 24-hour fitness center, meeting space and an outdoor pool with views of Chateau Elan’s vineyard. Chateau Elan Hotels & Resorts manages the hotel, which offers access to Georgia’s largest winery, 63 holes of golf, a 35,000-square-foot spa and seven restaurants.

January 12, 2017

Florida Loans Multifamily Southeast

Berkadia Arranges $30.5M Acquisition Loan for Apartment Community in Orlando

by John Nelson January 12, 2017

ORLANDO, FLA. — Berkadia has arranged a $30.5 million acquisition loan for Tuscany Bay, a 396-unit apartment community located at 5870 Sundown Circle in Orlando. The property features one- and two-bedroom units ranging from 600 to 1,140 square feet. Community amenities include two swimming pools, a spa, sauna, courtyard, tennis and racquetball courts and on-site boat storage. The borrower, a partnership between Rosehill Group — a joint venture between Duncan Hillsley Capital and PEBB Capital — and Atlantic Creek Real Estate Partners LLC, will use the Freddie Mac loan to purchase and renovate Tuscany Bay to green efficiency standards. Charles Foschini, Mitch Sinberg, Christopher Apone, Brad Williamson and Matthew Robbins of Berkadia arranged the financing through Freddie Mac’s Value-Add and Green Up programs.

January 12, 2017

Georgia Retail Southeast

Urbana Holdings Buys Shopping Center Near Former GM Plant in Metro Atlanta for $14.5M

by John Nelson January 12, 2017

DORAVILLE, GA. — Urbana Holdings LLC has purchased Peachtree Pavilion, a 167,488-square-foot shopping center situated adjacent to the new Assembly mixed-use development, which is currently being constructed on the 165-acre site of the former GM assembly plant in Doraville. The sales price and seller were undisclosed, but the Atlanta Business Chronicle reports Crimson Peachtree Road Holdings LLC sold the property to Urbana Holdings for $14.5 million. Peachtree Pavilion is anchored by H Mart, an Asian-themed grocery chain with 59 locations in the United States.

January 12, 2017

Florida Office Southeast

KPMG to Build $430M Training Campus in Orlando’s Lake Nona Development

by John Nelson January 11, 2017

ORLANDO, FLA. — KPMG LLP, a global tax advisory services firm and one of the Big Four auditing corporations, plans to develop a 55-acre, 800,000-square-foot training and conference complex within Tavistock Group’s Lake Nona, a 14-square-mile master-planned development in Orlando. KPMG didn’t disclose the estimated costs for the new complex, but the Orlando Sentinel reports that the campus will cost roughly $430 million to develop. The facility will feature an “Innovation Center,” as well as 800 guest rooms, fitness and outdoor recreational facilities and multiple food and beverage venues. The facility is expected to serve 50,000 KPMG employees annually, according to the Orlando Sentinel. KPMG expects to create at least 80 positions to work at the facility and that an additional 250 third-party contract operator positions will be created. New York-based Gensler is designing the campus to achieve LEED standards. Construction is expected to kick off this spring and wrap up in late 2019.

January 11, 2017

Alabama Loans Retail Southeast

Bank of America Provides Refinancing for The Summit in Birmingham

by John Nelson January 11, 2017

BIRMINGHAM, ALA. — Bank of America has funded the refinancing of The Summit, a 1 million-square-foot trophy retail development in Birmingham. Built in phases in 1997 and 2009, The Summit’s retail tenant roster includes Apple, Trader Joe’s, Restoration Hardware, Carmike Cinemas, Bed Bath & Beyond, lululemon athletica, Anthropologie and West Elm. Restaurant tenants include P.F. Chang’s, Seasons 52, Cheesecake Factory, Macaroni Grill and California Pizza Kitchen. Situated on 102 acres at 125 Summit Blvd., The Summit is bordered by U.S. 280, I-459 and Cahaba Heights Road and was 99 percent leased at the time of financing. Jim Curtin led HFF’s debt placement team to place the 10-year, fixed-rate loan through Bank of America. The loan amount was not disclosed. The borrowing entity, a partnership between The Summit’s developer Bayer Properties LLC and Institutional Mall Investors LLC, which is a co-investment venture between Miller Capital Advisory Inc. and CalPERS, will use the loan proceeds to refinance an existing loan.

January 11, 2017

North Carolina Office Southeast

Dilweg Acquires Two-Building Office Complex in Metro Raleigh for $61M

by John Nelson January 11, 2017

CARY, N.C. — The Dilweg Cos. has purchased Regency Lakeview, a two-building, 376,131-square-foot office complex in Cary, a suburb of Raleigh. Boston-based Intercontinental Real Estate Corp. sold the property to Durham, N.C.-based Dilweg for $61 million. The two five-story, Class A buildings were built in 1985 and 1998 and were fully leased at the time of sale to tenants such as Dude Solutions, HCL, Global Knowledge and Black & Veatch. Dilweg plans to invest roughly $4 million to upgrade Regency Lakeview’s operating systems, parking, common areas and tenant amenities. Ben Kilgore, Elliott Brewer and Leslie Holmes of CBRE | Raleigh, along with Patrick Gildea, Matt Smith and Leslie Wooten of CBRE Inc., represented Intercontinental in the transaction.

January 11, 2017

Alabama Multifamily Southeast

Berkadia Arranges $9.9M Sale of Two Apartment Communities in Huntsville

by John Nelson January 11, 2017

HUNTSVILLE, ALA. — Berkadia Real Estate Advisors has brokered the $9.9 million sale of two apartment communities in Huntsville totaling 375 units. The properties include the 223-unit Hillside Village at 4515 Bonnell Drive and the 152-unit Twickenham Village at 5001 Galaxy Way. David Oakley, David Etchison and David Wilson of Berkadia’s Birmingham office represented the sellers, Huntsville-based Hillside Village LLC and Twickenham Village LLC, in the transaction. The buyer, Huntsville-based VCP Twickenham LLC, plans to upgrade the interior and exterior of the communities, which were both built in 1985.

January 11, 2017

North Carolina Retail Southeast

SRS Real Estate Partners Brokers $8.4M Sale of Shopping Center in Charlotte

by John Nelson January 11, 2017

CHARLOTTE, N.C. — SRS Real Estate Partners’ Atlanta office has brokered the $8.4 million sale of Pineville Towne Market, a 83,526-square-foot shopping center located at 321 S. Polk St. in Charlotte. Situated on 8.7 acres at the intersection of Main and South Polk streets, the shopping center is anchored by Food Lion. F and L Meadow Creek LLC, a 1031 exchange buyer, purchased the property from LARC Asset Management and Realty Inc. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, while Adam Russ of Berkeley Capital Advisors represented the buyer in the transaction.

January 11, 2017

Mixed-Use Southeast Tennessee

Monroe Investment Partners to Develop 125-Acre Mixed-Use Project in Nashville

by John Nelson January 10, 2017

NASHVILLE, TENN. — Chicago-based Monroe Investment Partners plans to develop River North Development District, a 125-acre mixed-use project situated along the Cumberland River in Nashville. The development is a public-private partnership between the Metropolitan Government of Nashville and Davidson County and Monroe Investment, which owns or controls 105 acres of the site. Phase I of the project, known as The Landings, will break ground this year. Encompassing 40 acres, The Landings will include office, retail, multifamily and hospitality components. JLL’s Nashville office is marketing The Landings for lease. Monroe Investment plans to develop some of the sites at River North Development District, but plans to sell, lease or joint venture a majority of the parcels. As part of the public-private partnership, Monroe Investment will donate about 50 acres to the Metropolitan Government for the development of a riverfront greenway system, interior site public parkland, roads and common areas. The River North Development District project team includes Hastings Architecture Associates, Civil Site Design Group and Waller.

January 10, 2017

Multifamily South Carolina Southeast

Passco Buys Apartment Community in Charleston for $38.5M

by John Nelson January 10, 2017

CHARLESTON, S.C. — Passco Cos. has purchased Woodfield South Point, a 240-unit apartment community located at 1000 Bonieta Harrold Drive in Charleston’s West Ashley submarket, for $38.5 million. Passco will rebrand the asset to 1000 West. The apartment community is situated within walking distance of the West Ashley Greenway, a 8.3-mile jogging and biking trail. Community amenities include a resort-style saltwater pool, tanning deck, outdoor grills and barbecue areas, clubhouse with an outdoor fireplace, media lounge, cyber café, dog park and a car washing station. Kevin Kempf and Phil Brosseau of CBRE represented the seller, Arsenal Real Estate Funds, in the transaction. Chris Black of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Passco. Including the 1000 West transaction, Passco’s acquisition volume in 2016 exceeded $540 million, and the company plans to eclipse $1 billion in acquisition volume in 2017.

January 10, 2017

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