Southeast

Lidl to Develop $100M Regional Headquarters, Distribution Center in Metro Atlanta

by Camren Skelton June 27, 2017

CARTERSVILLE, GA. — Lidl, a discount German grocery chain, has unveiled plans for a new $100 million regional headquarters and distribution center in Cartersville, roughly 40 miles north of Atlanta. The facility will create 250 jobs over the next five years. Lidl is focusing first on the Southeast and Mid-Atlantic in its U.S. expansion plans, with its first 20 stores set to open this summer in Virginia, North Carolina and South Carolina. To date, Lidl operates more than 10,000 grocery stores in 28 countries.

June 27, 2017

Loans Maryland Multifamily Southeast

Walker & Dunlop Secures $72.6M HUD Construction Loan for Multifamily Asset in Metro Baltimore

by Camren Skelton June 27, 2017

MIDDLE RIVER, MD. — Walker & Dunlop has arranged a $72.6 million construction loan for The Berkleigh, a Class A apartment community in Middle River, roughly 10 miles east of Baltimore. Dee McClure of Walker & Dunlop structured the loan through the United States Department of Housing and Urban Development’s (HUD) 221(d)(4) new construction program, which includes both construction and permanent financing. The financing included a two-year construction loan followed by a 40-year, fully amortizing, permanent fixed-rate loan with a debt service coverage ratio of 1.176x. The Berkleigh is part of the Baltimore @ 95, a master-planned, mixed-use development that will contain office, flex and retail space, as well as hotels, single-family homes, townhouses and apartment communities.

June 27, 2017

Georgia Industrial Southeast

Core5 Industrial Partners Sells Logistics Center in Metro Atlanta for $62M

by Camren Skelton June 27, 2017

FAIRBURN, GA. — Core5 Industrial Partners has sold Core5 Logistics Center at Shugart Farms, an 873,800-square-foot industrial facility located in Fairburn, roughly 20 miles south of Atlanta, for $62 million. Chris Riley, Frank Fallon and Trey Barry of CBRE represented Atlanta-based Core5 in the sale to a private institutional investor. The logistics facility was constructed in early 2017 and was fully leased to The Duracell Co. at the time of sale.

June 27, 2017

North Carolina Retail Southeast

Westwood Financial Acquires Trader Joe’s-Anchored Shopping Center in Charlotte for $25.1M

by Camren Skelton June 27, 2017

CHARLOTTE, N.C. — Westwood Financial LLC has acquired The Arbors at Mallard Creek, a 55,323-square-foot, Trader Joe’s-anchored shopping center in Charlotte’s University City neighborhood. CBRE’s Mike Burkard and Casey Rosen represented the buyer, Los Angeles-based Westwood Financial, and the undisclosed seller in the $25.1 million transaction. Located at 2121 E. Arbors Drive, the property sits approximately four miles from University of North Carolina at Charlotte and is home to tenants including Petco, Massage Envy, Hickory Tavern and Zoë’s Kitchen. The center was 98 percent leased at the time of sale.

June 27, 2017

Arkansas Retail Southeast

Ziff Properties Acquires Shopping Center in Little Rock for $7.1M

by Camren Skelton June 27, 2017

LITTLE ROCK, ARK. — Ziff Properties Inc. has purchased Bowman Curve Shopping Center, an 81,271-square-foot retail development located near the intersection of North Bowman Road and West Markham Street in west Little Rock. Mason Lewis and Todd Rice of Colliers International represented the buyer and seller in the $7.1 million transaction. The company plans to invest in cosmetic and structural renovations for the center.

June 27, 2017

Multifamily North Carolina Southeast

Starlight U.S. Multifamily Core Fund Sells Apartment Community in Charlotte for $28.3M

by Camren Skelton June 26, 2017

CHARLOTTE, N.C. — Starlight U.S. Multifamily (No.5) Core Fund has sold Belle Haven, a 176-unit, Class A apartment complex located at 9005 Post Canyon Lane in the University of North Carolina-Charlotte submarket, for $28.3 million. Belle Haven Acquisition LLC, an indirect, wholly owned subsidiary of the fund, sold the property to an undisclosed buyer. Proceeds from the sale will be used to pay the outstanding mortgage balance of approximately $17.8 million, with the remainder expected to be utilized on a tax-deferred basis to acquire a multifamily property with a greater number of units. Property amenities at Belle Haven include a fitness center, yoga room, pool, clubhouse and a neighborhood pet park.

June 26, 2017

Georgia Multifamily Southeast

5 Cap Realty, RREIC Advisors Acquire Multifamily Asset in Metro Atlanta for $21.6M

by Camren Skelton June 26, 2017

STONE MOUNTAIN, GA. — Pennsylvania-based 5 Cap Realty LLC and its affiliate RREIC Advisors have acquired Grove Mountain Park, a garden-style apartment community located in Stone Mountain, roughly 20 miles east of Atlanta. The partnership acquired the property for $21.6 million with plans to invest an additional $3.2 million in renovations. 5 Cap Realty utilized a Fannie Mae loan to purchase the community. Grove Mountain Park comprises 13 garden-style buildings and includes a mix of studio, one-, two- and three-bedroom units. Forty Two LLC, a 5 Cap affiliate, will manage the property.

June 26, 2017

Georgia Office Southeast

Terra Cap Management Purchases Metro Atlanta Office Center for $19M

by Camren Skelton June 26, 2017

DULUTH, GA. — Terra Cap Management LLC has acquired 3100 Breckinridge, a seven-building, 253,000-square-foot office park located on Breckinridge Boulevard in Duluth, a suburb of Atlanta in Gwinnett County. Avison Young’s Matt Tritschler represented the undisclosed seller in the $19 million transaction, and C.J. Kelly of CBRE led the debt origination. Lincoln Property Co. Southeast will handle leasing and management assignments for the property.

June 26, 2017

Loans North Carolina Retail Southeast

NorthMarq Capital Arranges $18.5M in Refinancing for Retail Property in North Carolina’s Triad Region

by Camren Skelton June 26, 2017

GREENSBORO, N.C. — NorthMarq Capital has arranged $18.5 million in refinancing for New Garden Crossing, a 168,950-square-foot retail center located in Greensboro. Mark Jeffries of NorthMarq Capital’s Denver office structured the refinance with a 10-year term and 30-year amortization schedule. Lowe’s Foods, Marshalls and HomeGoods are among the tenants at the property.

June 26, 2017

Maryland Multifamily Southeast

Donaldson Group, DRA Advisors Acquire Multifamily Community in Metro D.C. for $15.1M

by Camren Skelton June 26, 2017

TEMPLE HILLS, MD. — The Donaldson Group and its equity partner, DRA Advisors LLC, have acquired Brinkley Manor Apartments, a 126-unit, garden-style apartment community located in Temple Hills, roughly 15 miles southeast of Washington, D.C. The partnership purchased the property for $15.1 million with plans to invest additional capital in renovations. CBRE’s Robert LaChapelle and Matthew Forgione arranged financing through Fannie Mae’s Green Loan Program. CBRE’s Michael Muldowney and Brian Margerum represented the undisclosed seller in the transaction. Constructed in 1972, Brinkley Manor includes one-, two- and three-bedroom units ranging from 813 to 1,448 square feet. Renovation plans include replacement of the utility system and upgraded buildings, common areas and property grounds.

June 26, 2017

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