Southeast

McKibbon Hospitality, Coro Realty to Build Hampton Inn & Suites by Hilton in Buckhead

by John Nelson August 30, 2016

ATLANTA — McKibbon Hospitality has teamed up with Coro Realty Advisors to develop a new 186-room Hampton Inn & Suites by Hilton in Atlanta’s Buckhead district. The 108,659-square-foot hotel will be situated on Piedmont Road within Buckhead Place, Coro Realty’s mixed-use center that features an LA Fitness, Marshall’s, Pier One, Hyatt Place and the 05 Buckhead apartment tower. McKibbon Hospitality has selected Sarasota, Fla.-based Kellogg & Kimsey as the general contractor. The development team expects to break ground on the hotel in September.

August 30, 2016

Industrial Kentucky Southeast

Terressentia Corp. Opens O.Z. Tyler Distillery in Kentucky

by John Nelson August 30, 2016

OWENSBORO, KY. — Charleston, S.C.-based Terressentia Corp. has opened the O.Z. Tyler Distillery, the company’s bourbon distillery situated on 26 acres in Owensboro. The historic property dates back to the late 1800s and is now open following two years of renovations. The property is named after O.Z. Tyler, the co-inventor of Terressentia’s patented TerrePURE distilling process. The company plans to employ 75 staffers when fully operational. The distillery will produce more than 30,000 barrels of bourbon annually. Future plans for the property include increasing production to 75,000 barrels annually, building a visitor’s center and museum and becoming a stop on the Kentucky Bourbon Trail.

August 30, 2016

Hospitality Loans Southeast Virginia

SunTrust Provides $25.8M Construction Loan for Marriott Autograph Hotel in Downtown Charlottesville

by John Nelson August 30, 2016

CHARLOTTESVILLE, VA. — SunTrust Bank has provided a $25.8 million construction loan to Carr City Centers for the development of a new hotel located at 1106 W. Main St. in downtown Charlottesville. The new 150-room, boutique hotel is set to be part of the Marriott Autograph Collection. The property will be located next to the University of Virginia’s main campus and adjacent to the University Medical Center. The hotel will feature an upscale restaurant, fitness center, business center and 3,000 square feet of meeting space. The general contractor, Donohoe Construction Co., plans to break ground in the third quarter with a scheduled opening in the fourth quarter of 2017. Donohoe Hospitality Services will manage the hotel’s day-to-day operations on behalf of the ownership, a joint venture between Carr City Centers and Donohoe.

August 30, 2016

Georgia Industrial Southeast

NAI Brannen Goddard Brokers $14M Sale of 230,000 SF Industrial Complex in Metro Atlanta

by John Nelson August 30, 2016

DULUTH, GA. — NAI Brannen Goddard has brokered the $14 million sale of a three-building, 230,000-square-foot industrial complex situated within Northmont Business Center in Duluth, a northeastern suburb of Atlanta in Gwinnett County. Situated on 28 acres along Satellite Boulevard, the single-story complex offers both warehouse and office space and features 24-foot clear heights, 120-foot truck courts and ample parking. Exeter Property Group purchased the complex from the undisclosed seller. Jack Haden, Mike Chambers and Bradley Pope of NAI Brannen Goddard represented the seller in the transaction. Exeter Property Group has retained the NAI Brannen Goddard team to lease the project.

August 30, 2016

Georgia Southeast Top Stories

The Atlanta Falcons Secure $850 Million Financing for New Stadium

by Katie Sloan August 30, 2016

ATLANTA — The Atlanta Falcons organization has received $850 million in permanent financing for the team’s new $1.2 billion Mercedes-Benz Stadium, scheduled to open next year. Bank of America, SunTrust Banks and 18 institutional investors provided the financing, which will convert the stadium’s construction loans to long-term financing, according to reports by The Atlanta Journal Constitution. The Falcons will repay the institutional investors — which provided roughly two-thirds of the financing — over 26 years, with the banks receiving payment over a shorter term. The 2 million-square-foot development — designed through a collaboration between HOK, tvsdesign, Goode Van Slyke Architecture and Stanley Beaman & Sears — will have the capacity to seat up to 71,000 for NFL games. The stadium will also be home to the city’s new MLS soccer team, Atlanta United. The Mercedes-Benz Stadium will feature a retractable roof designed in the shape of a Falcon’s wing; a 360-degree, HD halo video board built into the stadium’s roof; a technology lounge; a 100-yard bar; an exterior fan plaza; and a floor-to-ceiling window offering views of downtown Atlanta. Developers are seeking LEED Platinum certification for the project. — Katie Sloan

August 30, 2016

Loans Louisiana Multifamily Southeast

Bellwether Enterprise Arranges $31.6M HUD Loan for Workforce Housing Construction in New Orleans

by John Nelson August 29, 2016

NEW ORLEANS — Bellwether Enterprise Real Estate Capital LLC has arranged a $31.6 million HUD 221(d)(4) loan for the construction of Village of Versailles, a 50-building, 400-unit affordable and workforce housing community in New Orleans. Prior to Hurricane Katrina in 2005, the site of the Village of Versailles housed two 200-unit, HUD-insured apartment developments. Set to open in late 2017, Village of Versailles will feature two community buildings and a leasing office. Jon Killough of Bellwether Enterprise’s Alabama office arranged the 40-year loan with 22 months of interest-only payments through HUD on behalf of the borrower, Mirus New Orleans LLC. The financing of the project also includes the issuance of short-term tax-exempt bonds, 4 percent Low Income Housing Tax Credits purchased by City Real Estate Advisors and HOME Funds provided by the Louisiana Housing Corp.

August 29, 2016

Florida Industrial Southeast

PREMIER Design + Build to Construct 420,373 SF Industrial Facility in Metro Miami

by John Nelson August 29, 2016

HIALEAH GARDENS, FLA. — Bridge Development Partners LLC has selected PREMIER Design + Build Group LLC to construct Crossroads East, a 420,373-square-foot industrial facility comprising two warehouses in Hialeah Gardens, a suburb of Miami in Miami-Dade County. Situated on 30 acres, the warehouses will feature TPO roofing systems, 32-foot clear heights, 75 truck dock positions in each building, two drive-in doors per building, an ESFR sprinkler system and a 449-space parking lot that will accommodate both buildings. Kirk Conners of PREMIER is overseeing the project’s construction, and PREMIER’s Ed Lebak is the superintendent. Bridge Development Partners, the developer of the project, has selected Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield to lease the asset, which is set to open in the fourth quarter of this year. PREMIER recently delivered Crossroads West and plans to construct Crossroads South, which will mark the completion of the new industrial park.

August 29, 2016

Kentucky Seniors Housing Southeast

Civitas, Guttman Properties to Build $20M Seniors Housing Community in Louisville

by John Nelson August 29, 2016

LOUISVILLE, KY. — Texas-based operator Civitas Senior Living and Ohio-based developer Guttman Properties will join forces to develop The Grand of Prospect, a luxury seniors housing community in Louisville. Development costs are estimated at $20 million for the 168-unit independent living, assisted living and memory care community. The Grand of Prospect will be located on 14.8 acres. Construction is scheduled to start in the fourth quarter of 2016 for completion in the first quarter of 2018. The project team includes Louisville-based civil engineer Mindel, Scott and Associates Inc. and Columbus, Ohio-based architect pH7 Architects. Guttman and Civitas will co-own the property upon completion.

August 29, 2016

Hospitality Southeast Tennessee

Hilton Worldwide Opens Home2 Suites by Hilton Nashville Franklin Cool Springs

by John Nelson August 29, 2016

FRANKLIN, TENN. — Hilton Worldwide has opened the 105-room Home2 Suites by Hilton Nashville Franklin Cool Springs located at 107 International Drive in the Nashville suburb of Franklin. Owned and managed by Vision Hospitality Group, the pet-friendly hotel features fully equipped kitchens in each suite, complimentary internet, community spaces, a combined laundry and fitness area known as Spin2 Cycle, complimentary breakfast, convenience store known as Home2 MKT, boardroom, indoor saline pool, outdoor patio, firepit and grill area.

August 29, 2016

Florida Retail Southeast

Marcus & Millichap Brokers $18M Sale of Shopping Center in Miami

by John Nelson August 29, 2016

MIAMI — Marcus & Millichap has arranged the $18 million sale of West Sunset Square, a 67,974-square-foot shopping center located on the corner of Sunset Drive and S.W. 157th Avenue in Miami. The buyer, Sabina 40 Street LLC/West Sunset Square Members LLC, is an affiliate of IMC Equity Group. Built in 2009, West Sunset Square was fully leased at the time of sale to tenants such as Dollar Tree, Planet Fitness, Valsan and a Taco Bell outparcel set to open in September. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a Miami-based limited liability company, and procured the buyer. Sabadell United Bank provided a $12.6 million acquisition loan on behalf of IMC Equity Group.

August 29, 2016

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