Southeast

Novare, Batson-Cook to Open 32-Story High-Rise in Midtown Atlanta

by John Nelson October 28, 2016

ATLANTA — Novare Group and Batson-Cook Development Co. plan to open Atlantic House, a 32-story high-rise apartment tower in Midtown Atlanta, in mid-November. Located on the corner of 14th and West Peachtree streets, Atlantic House will feature 407 residences, two rooftop pools, a 24-hour fitness center, clubroom, outdoor kitchen, laundry service, 24-hour concierge services, business center and outdoor patio space, as well as a grilling area, tennis court and dog park on top of the attached parking garage. All residences will feature private balconies. The project also features more than 13,000 square feet of ground-floor retail space fronting 14th and West Peachtree streets, with Einstein’s, Caribou and McCray’s Tavern scheduled to open in early 2017. Residents have started to move into their units ahead of the Nov. 17 grand opening.

October 28, 2016

Kentucky Multifamily Southeast

City Club Apartments Opens 800 Tower City Apartments in Downtown Louisville

by John Nelson October 28, 2016

LOUISVILLE, KY. — City Club Apartments LLC, a multifamily owner and developer led by Jonathan Holtzman, has opened 800 Tower City Apartments, a 29-story high-rise tower in downtown Louisville. Built in 1963 as The 800 Building, the 286-unit property is open following a year-long, $11 million renovation program. The tower’s top floor now features the Sky Club, which includes a gourmet kitchen, fireplace, TVs, lounge seating and an outdoor terrace with a dining and grilling station. The top floor also features a fitness center and Zen garden. The rooftop amenity deck, known as Sky Park, features a swimming pool, sun deck, firepit, outdoor kitchen, bar and outdoor TVs. Other amenities include Bar Vetti on the first floor, a conference room, theater, business center, café, dog park, parking garage and personal concierge services. The renovation included upgrades to the façade, a new pocket rotunda entry, landscaping, lighting and paint. About 80 percent of the apartment residences have been renovated with the rest slated for a late November completion.

October 28, 2016

Georgia Hospitality Southeast

Monarch Private Capital, BNA Associates Break Ground on Hotel Clermont Redevelopment in Atlanta

by John Nelson October 28, 2016

ATLANTA — Atlanta-based Monarch Private Capital and Nashville-based BNA Associates have begun the redevelopment of Hotel Clermont in Atlanta’s Poncey-Highland neighborhood. The firms are renovating the iconic hotel using Historic Tax Credits. Upon opening, the new 94-room boutique hotel will feature a restaurant and some of the original hotel’s art-deco design. Monarch and BNA worked closely with the city of Atlanta and the Georgia General Assembly, which passed House Bill 308 last year, raising the maximum tax credit allowance for historic structures from $300,000 annually to $5 million. The Poncey-Highland Neighborhood Association also supported the renovation and preservation of the landmark hotel.

October 28, 2016

Florida Seniors Housing Southeast

Greystone Arranges $21.5M Sale of Seniors Housing Community in Jacksonville

by John Nelson October 28, 2016

JACKSONVILLE, FLA. — Greystone’s Real Estate Advisors group has arranged the $21.5 million sale of Wyndham Lakes, a 245-unit independent living, assisted living and memory care community in Jacksonville. A private equity group purchased the property from a publicly traded REIT. Formerly operated by Brookdale Senior Living, Wyndham Lakes is situated on 14 acres of land. The community consists of 12 residential buildings and one common area structure. Mike Garbers and Cody Tremper of Greystone represented the seller in the transaction. Tremper also arranged non-recourse acquisition financing through a regional bank.

October 28, 2016

Georgia Loans Southeast Student Housing

NorthMarq Secures $22.2M Refinancing of Student Housing Property Near University of West Georgia

by John Nelson October 27, 2016

CARROLLTON, GA. — NorthMarq Capital has secured the $22.2 million refinancing of Flats at 316, a 240-unit student housing community located near the University of West Georgia in Carrollton. The transaction was structured with a three-year, interest-only term. Will James of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower through a bridge lender. Flats at 316’s community amenities include a basketball court; cyber café; dog park; a lounge with a flat screen, pool table, ping pong, poker and other games; a resort-style swimming pool; sand volleyball court; coffee bar; fitness center; and shuttle service to and from campus.

October 27, 2016

Georgia Retail Southeast

Morgan Construction Underway on $24.1M Kroger-Anchored Center in Metro Atlanta

by John Nelson October 27, 2016

CARTERSVILLE, GA. — Morgan Construction Co. is nearing completion of Main Street Market Place, a Kroger-anchored shopping center in Cartersville, roughly 43 miles north of Atlanta. The total construction costs for the development is $24.1 million, excluding the cost of the Kroger Fuel Center. The 53-acre development includes a Kroger Marketplace and fuel center, AT&T, Pacific Dental, Vision Works, Panera Bread, Sport Clips, Las Palmas Mexican Restaurant, Willy’s Mexicana Grill. Phase II of the future development will allow 85,000 square feet for co-anchor space. The Kroger store opened to the public on Oct. 5, but the remaining retail space remains under construction. The development team is led by R.H. Ledbetter Properties of Rome, Ga. The design team includes architects CR Architecture & Design, Buckle Design Group and Schaefer Inc.; and landowner Dellinger.

October 27, 2016

Office Southeast Virginia

Cushman & Wakefield | Thalhimer Brokers $10.8M Sale of 16-Story Office Building in Norfolk

by John Nelson October 27, 2016

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has brokered the $10.8 million sale of a 16-story, 230,316-square-foot office building located at 500 E. Main St. in Norfolk’s central business district. Richmond, Va.-based Riverstone Properties LLC purchased the asset from the undisclosed seller. The building was 59 percent leased at the time of sale to 32 tenants. BB&T anchors the property and operates a full-service bank branch on the ground floor. Other tenants include Hampton Roads Chamber of Commerce, Hunton & Williams and Brown & Brown. Eric Robinson and John Duffy of Cushman & Wakefield | Thalhimer brokered the transaction.

October 27, 2016

Industrial Southeast Virginia

NGKF Arranges 143,440 SF Industrial Lease Expansion in Alexandria

by John Nelson October 27, 2016

ALEXANDRIA, VA. — Newmark Grubb Knight Frank (NGKF) has arranged a 143,440-square-foot industrial lease expansion in Plaza 500, a two-story, 500,800-square-foot industrial property located at 6295 Edsall Road in Alexandria. The owner, First Potomac Realty, signed Paxton Van Lines Inc. to the lease, which increases the moving and storage company’s footprint in Plaza 500 by 36,127 square feet. Larry Fitzgerald of NGKF represented Paxton Van Lines in its original lease at Plaza 500 three years ago and also represented the company in its expansion. Additionally, Fitzgerald represented Paxton Van Lines in its recent $3.6 million sale of 32 acres in Manassas, Va., which is slated to be home to a new data center. With the expansion, Paxton Van Lines is now the largest tenant at Plaza 500.

October 27, 2016

Alabama Retail Southeast

Corporate Property Dispositions, Avison Young Broker Home Depot’s Land Sale in Alabama

by John Nelson October 27, 2016

SYLACAUGA, ALA. — Corporate Property Dispositions and Avison Young have represented The Home Depot in its sale of 3.6 acres of land in Sylacauga. The site is situated adjacent to The Home Depot store along U.S. Highway 280. Elcan & Associates purchased the land to develop a Dollar Store and additional retail space. Keith Valentine of Corporate Property Disposition’s Atlanta office and Patrick Arnold of Avison Young brokered the sale. Valentine represented The Home Depot on previous land sales at this location for Zaxby’s and Captain D’s.

October 27, 2016

District of Columbia Maryland Seniors Housing Southeast Top Stories Virginia

HCP Acquires Seniors Housing Portfolio in Mid-Atlantic for $186.3M

by John Nelson October 27, 2016

BALTIMORE AND WASHINGTON, D.C. — An affiliate of HCP Inc. (NYSE: HCP), a seniors housing REIT based in Irvine, Calif., has purchased a portfolio of assisted living and memory care properties in the Mid-Atlantic for approximately $186.3 million. Developed between 1993 and 2013, The Morningside House Mid-Atlantic Portfolio consists of seven seniors housing communities located in the greater Baltimore and Washington, D.C. areas. The seller, a joint venture between Morningside House Senior Living and Harrison Street Real Estate Capital, sold the portfolio for roughly $354,000 per unit. HCP has selected Chicago-based Senior Lifestyle Corp. to operate the assets. The portfolio included: — Morningside House of Ellicott City in Ellicott City, Md. — Morningside House of Friendship in Hanover, Md. — Morningside House of Laurel in Laurel, Md. — Morningside House of Satyr Hill in Parkville, Md. — Morningside House of Leesburg in Leesburg, Va. — Morningside House of Saint Charles in Waldorf, Md. and — Poet’s Walk Memory Care in Fredericksburg, Va. Lisa Widmier and Matthew Whitlock led CBRE Capital Markets’ National Senior Housing team in representing the joint venture in the sale. “This transaction had multiple moving parts, including a new operator — Senior Lifestyle — partnering with a …

October 27, 2016

Newer Posts

Older Posts