Southeast

Halpern Enterprises Opens New Publix Store at Dawson Crossroads in North Georgia

by John Nelson October 13, 2016

DAWSONVILLE, GA. — Halpern Enterprises has opened the 45,600-square-foot Publix at Dawson Crossroads, a 98,400-square-foot shopping center located at the southeast corner of GA 400 and Dawson Forest Road in Dawsonville. The property is situated across the street from the North Georgia Premium Outlets and a Walmart Supercenter. Dawson Crossroads’ tenant roster includes PetSmart, Brooklyn Joe’s Pizzeria, Lee Nails, Great Clips, Totally Running and Top Cleaners. The property will also feature outparcel retailers such as Chili’s Bar & Grill, AT&T and Aspen Dental.

October 13, 2016

Florida Multifamily Southeast

Cushman & Wakefield Arranges $42.8M Sale of Apartment Community in Orlando

by John Nelson October 13, 2016

ORLANDO, FLA. — Cushman & Wakefield has brokered the $42.8 million sale of Phase I of Crest at Millenia, a newly built, 252-unit apartment community located at 5100 Millenia Waters Drive in Orlando. Built in 2016 on a 12.8-acre site in Orlando’s Millenia submarket, Crest at Millenia’s amenities include gated access, a resort-style salt water pool with private cabanas, grilling courtyard, hammock grove, dog park, game room with billiard tables, bocce ball court, 24-hour fitness center, resident hub, extra storage and 358 parking spaces. The property’s units average 957 square feet and feature hardwood-style flooring, granite countertops in the kitchens and baths, stainless steel appliances, 42-inch designer custom cabinets, crown molding, ceramic tile floors in the bathrooms, USB charging stations and washers and dryers in all units. Jay Ballard and Ken Delvillar of Cushman & Wakefield represented the seller, Miami-based Lennar Multifamily Communities, in the transaction. The buyer, Atlanta-based Centennial Holding Co., purchased the asset for roughly $170,000 per unit. The 272-unit Phase II of Crest at Millenia will be located on an adjacent 13.5-acre site and is expected to come on line later this year.

October 13, 2016

Florida Multifamily Southeast

CBRE Brokers $32.6M Sale of Apartment Community in Metro Orlando

by John Nelson October 13, 2016

KISSIMMEE, FLA. — CBRE has brokered the $32.6 million sale of the Valencian Apartments, a 366-unit apartment community located in 1400 W. Donegan Ave. in Kissimmee, a suburb of Orlando. The Michaelson Group purchased the property from Insula Capital. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented Insula Capital in the transaction. Valencian Apartments features one-, two- and three-bedroom residences with screened-in patios and modern kitchens. The two-story community recently underwent a $2.8 million renovation to the exterior and in-unit amenities, including upgrades to the façade, clubhouse and the three resort-style pools.

October 13, 2016

Maryland Office Southeast

Comcast to Relocate 140 Employees to New Office at McHenry Row in Baltimore

by John Nelson October 13, 2016

BALTIMORE — Comcast Corp. has signed a lease with 28 Walker Development for 28,000 square feet of office space within McHenry Row, a 20-acre mixed-use project in Baltimore. Comcast plans to relocate 140 of its employees from a regional corporate office in the White Marsh section of Baltimore County to the new space within the project’s Banner Building, a 215,000-square-foot office building located at 1215 E. Fort Ave. McHenry Row features 300,000 square feet of office space, a Harris Teeter grocery store, retail, restaurants and 250 apartment units. Retailers opening soon at McHenry Row include Samos Greek Island Grill, Ruby 8 Noodle and Sushi and Diamondback Brewing Co., a locally owned craft brewery. Joe Dolan and David Fritz of NAI KLNB represented 28 Walker Development in the lease deal, and Richie Blue of Blue & Obrecht Realty and Jeff Flynn of JLL represented Comcast. The transaction brings the Banner Building to full occupancy. Other office tenants within the Banner Building include Under Armour, Gilbane Construction, Kimley Horn, Maryland Auto Insurance Fund, Martin-Lauer Associates, Mindgrub, Navigator Management Partners and the Ulman Cancer Fund for Young Adults.

October 13, 2016

Georgia Office Southeast

Avison Young Brokers $14M Sale of Three Office Buildings in Alpharetta

by John Nelson October 13, 2016

ALPHARETTA, GA. — Avison Young’s Atlanta office has brokered the $14 million sale of Royal 400, a three-building portfolio of single-story office buildings situated within an office park in Alpharetta. Totaling 137,600 square feet on 22.9 acres, Royal 400 was 80.5 percent leased at the time of sale to national and regional tenants. Matt Tritschler, Steve Morgan and Stephanie Marion of Avison Young represented the seller, NNN Royal 400 LLC, in the transaction.

October 13, 2016

Features Louisiana Multifamily Southeast Student Housing Top Stories

NMHC 2016 Conference: Student Housing Remains Robust, Transaction Volume and Investor Interest High

by Katie Sloan October 13, 2016

NEW ORLEANS — The 14th annual National Multifamily Housing Council (NMHC) Student Housing Conference & Exposition was held Sept. 28-30 at the New Orleans Marriott in Louisiana, with over 700 leaders from all facets of the sector convening to network, discuss and dine over a range of industry topics. The outlook throughout the conference was overwhelmingly bright. Each panel and session showed the sector to be robust, with reports of rising rental rates, a record year in asset sales in the sector, and increasing investor interest and capital entering the student housing market. The conference began on Wednesday, Sept. 28, with opening remarks by NMHC president Doug Bibby, followed by a panel titled “Keeping Count: The Public Company Perspective.” Led by CEO of Peak Campus Bob Clark, the panel went in-depth with the CEOs of the two public REITs in the industry — Bill Bayless, president and CEO of American Campus Communities (ACC), and Randy Churchey, chairman and CEO of Education Realty Trust (EdR). Clark began the panel with a variety of statistics on the sector today, as reported by Axiometrics. New supply deliveries for the last five years have been 61,000-beds in 2013; 62,000-beds in 2014; 47,000-beds in 2015; 48,000-beds in 2016; and 36,000 …

October 13, 2016

District of Columbia Office Southeast

Invesco Sells The Executive Building in Downtown D.C. for $228M

by John Nelson October 12, 2016

WASHINGTON, D.C. — Invesco Real Estate has sold The Executive Building, a 332,022-square-foot, LEED Gold-certified office building in downtown Washington, D.C. UNIZO Holdings Co. Ltd. purchased the Class A asset from Invesco for $228 million. Stephen Conley, Andrew Weir, Jim Meisel, Dek Potts and Matt Nicholson led the HFF investment sales team representing the seller. HFF also procured UNIZO Holdings. Located at 1030 15th St. N.W., The Executive Building is situated in close proximity to the McPherson Square and Farragut North and West Metrorail stations; across from Midtown Center, the future Fannie Mae headquarters; and three blocks from the White House. Completed in 2008, the 12-story building is 93 percent leased to tenants such as The Atlantic Council of the United States and National Quality Forum. The property’s amenity package features a tenant-only fitness center, conference facilities, concierge, on-site retail space and a 178-space underground parking facility.

October 12, 2016

Florida Loans Multifamily Southeast

Berkadia Arranges $70M Loan for Multifamily Property in Key West

by John Nelson October 12, 2016

KEY WEST, FLA. — Berkadia has arranged a $70 million loan for the refinancing of Ocean Walk, a 296-unit multifamily property in Key West. The recently renovated community features one-, two- and three-bedroom units with upgraded cabinetry and finishes, stainless steel appliances and plank flooring. Community amenities include a swimming pool, basketball court, tennis court and a nearby jogging trail. Mitch Sinberg, Brad Williamson and Matt Robbins of Berkadia arranged the Fannie Mae loan on behalf of the borrower, a joint venture between Mast Capital and Rockpoint Group.

October 12, 2016

Maryland Multifamily Southeast

Fore Property, PCCP to Develop Apartment Community in Metro D.C.

by John Nelson October 12, 2016

HYATTSVILLE, MD. — Fore Property Co. has formed a joint venture with PCCP LLC to develop The Edition, a five-story, Class A apartment community located at 3401 East-West Highway in downtown Hyattsville, roughly six miles north of Washington, D.C. Situated on a 3.7-acre site, The Edition will be part of an 11-acre mixed-use development that formerly housed a Kiplinger magazine publishing plant. The Edition’s amenities will include an outdoor recreational area with billiards, ping pong, barbecue stations and a fire pit. The community will also include a 412-space parking deck. The unit mix will consist of 72 studios, 148 one-bedroom units, 113 two-bedroom units and 18 three-bedroom units. Fore Property and PCCP are aiming for The Edition to be certified LEED Silver upon completion, which is scheduled for spring 2019.

October 12, 2016

Hospitality Kentucky Loans Southeast

KeyBank Arranges $12.1M CMBS Loan for SpringHill Suites Hotel in Louisville

by John Nelson October 12, 2016

LOUISVILLE, KY. — KeyBank Real Estate Capital has arranged a $12.1 million CMBS loan for SpringHill Suites Louisville Airport, a 75,000-square-foot hotel situated directly north of Louisville International Airport. Located at 820 Phillips Lane, the hotel features a market, meeting room, coffee station, business center, breakfast buffet, fitness center and an indoor swimming pool. Jake Proctor of KeyBank arranged the fixed-rate, non-recourse loan.

October 12, 2016

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