RICHMOND, VA. — Phillips Realty Capital has secured $36.5 million in permanent financing for the Altria Building at Reynolds Crossing located at 6603 W. Broad St. in Richmond. Phillps Realty Capital’s Charles DuBose arranged the financing on behalf of the borrower, Reynolds Development. The 222,057-square-foot, Class B office building was built in 1968 and renovated in 2007. The Altria Building is fully leased to a single credit tenant, Philip Morris USA, which is headquartered at the property.
ORLANDO, FLA. — Berkadia has arranged a $32 million loan for the acquisition of Courtney at Lake Shadow, a Class A, 244-unit apartment community located at 545 S. Keller Road in Orlando. Berkadia’s Charles Foschini and Christopher Apone arranged the seven-year, floating-rate loan with three years of interest-only payments through Freddie Mac on behalf of the borrower, Harbor Group International. Built in 2016, the lakefront community features one-, two-, and three-bedroom units, a fitness center, game room, pet washing station, internet cafe and on-site management offices.
ATLANTA — KeyBank Real Estate Capital has provided a $20.8 million Freddie Mac acquisition loan for Village on the Green, a 216-unit multifamily property located at 2975 Continental Colony Parkway in Atlanta. KeyBank’s Timothy Weldon and Irena Edwards structured the fixed-rate financing with a 10-year term, 30-year amortization schedule and five years of interest-only payments. Property amenities include a fitness center, resort-style pool, playground and a tennis court.
NASHVILLE, TENN. — AEG plans to develop a mixed-use entertainment district at Southwest Value Partner’s (SWVP) Nashville Yards in downtown Nashville. The Los Angeles-based sports and entertainment venue owner/operator purchased a four-acre parcel of land that will be anchored by a 4,000-capacity music venue, a flagship Regal Cinemas theater complex, a 600- to 700- capacity live entertainment club, an approximately 240-room boutique hotel and other entertainment, food and beverage options. SWVP’s Nashville Yards is a multi-phase office, retail, hospitality, entertainment and residential project that will span the western edge of downtown and stretch from Broadway north past Church Street. The 15-acre site was previously home to the LifeWay Christian Resources campus. The first site in Nashville Yards, a 591-room Hyatt Regency hotel, is expected to open in 2020. The AEG-developed district will be located at 10th Avenue between Commerce and Church streets, with the option to acquire an additional 1.5-acre parcel for further development. The project further expands AEG’s portfolio of entertainment districts, which includes L.A. LIVE in Los Angeles, The O2 in London and Mercedes-Benz Platz in Berlin.
ATLANTA — Carter Validus has acquired the 995,728-square-foot American Cancer Society Building in downtown Atlanta for $166 million. Cushman & Wakefield’s Stewart Calhoun, David Meline, Samir Idris and Andy Johns represented the seller, Atlanta-based Cousins Properties, in the transaction. Mike Ryan and Brian Linnihan of Cushman & Wakefield arranged acquisition financing. The American Cancer Society Inc., Digital Realty, InComm and the Georgia Lottery Corp. are among the tenants at the property, located at 250 Williams St. Amenities include a 450-seat business theater, an executive boardroom and Wi-Fi in common areas. Cushman & Wakefield’s Aileen Almassy, John Zintak and Porter Henritze will handle leasing of the office space on behalf of Carter Validus.
NATIONAL HARBOR, MD. — Trammell Crow Co. and its partner, Meadow Partners, have broken ground on the Medical Pavilion at National Harbor, a 93,100-square-foot, Class A medical office building located at 251 National Harbor Blvd., roughly 11 miles south of Washington, D.C. The five-story building will be home to medical and clinical specialties, including dermatology, wellness and functional fitness, orthopedics, primary care and an ambulatory surgery center. Located within the master-planned community developed by Peterson Cos., the Pavilion will be among amenities and attractions including the Gaylord National Resort and Convention Center, Tanger Outlets, The Capital Wheel and MGM National Harbor. The building was 62 percent preleased at groundbreaking. CBRE’s John Kerr and Daniel McGivney will handle the project’s leasing and marketing efforts.
KENDALL, FLA. — Keystone Property Group has purchased Dadeland Towers South, a portfolio comprising two office buildings totaling 228,136 square feet and an on-site, 246,319-square-foot parking garage located at 9400-9500 S. Dadeland Blvd. in the Kendall submarket of Miami. Avison Young’s John Crotty and Michael Fay represented Keystone in the $36 million acquisition. Keystone simultaneously completed a 102,000-square-foot lease with the seller, AvMed Inc., a Florida-based health insurance company, which will remain at the property long-term. For more than 10 years, Keystone has owned Dadeland Towers North, the three-building and parking garage portfolio that makes up the northern section of the office campus. With this acquisition, Keystone now owns the entire property, which was 89 percent leased at the time of sale.
SAVANNAH, GA. — Colliers International has brokered the sale of a full city block in downtown Savannah, comprising two historic buildings and one shared parking lot located at 114 Barnard St., 104 W. State St. and 109-119 Whitaker St., for an undisclosed price. Ashley Smith, Rhett Mouchet and Tyler Mouchet of Colliers International’s Savannah office represented the undisclosed seller in the transaction. The U.S. Post Office, Roly Poly, Alligator Soul and various office spaces are among the tenants at the 24,139-square-foot Barnard Street building. The LEED Silver-certified Whitaker Street building spans approximately 10,500 square feet and is home to Tequila Town Restaurant, Rocko Lounge and office spaces. Colliers International will handle the leasing and management of the properties.
TYSONS, VA. — Lerner Enterprises has received $200 million in permanent financing for 1775 Tysons Boulevard, a 17-story office tower located in Tysons, Virginia. The developer, Lerner, delivered the property in late 2016. The 476,000-square-foot office tower is LEED Platinum certified, and features a state-of-the-art fitness center, conference center, café, indoor and outdoor social areas, and an onsite Fogo de Chão restaurant. Tenants at the property include EY, DXC Technology and WeWork. JLL is handling leasing at the tower. KPF designed the project. Towers Golde was landscape architect, Dewberry handled engineering and Paladino was LEED consultant. The office complex is the newest building in the Tysons II master plan, which features office, retail, dining, hotel and residential space. The 117-acre development is home to Tysons Galleria, an 800,000-square-foot luxury retail center, and a Ritz-Carlton. TH Real Estate — the real estate investment management arm of TIAA — provided the capital for the financing, which John Sieber Jr. of Phillips Realty Capital structured. Rockville, Md.-based Lerner Enterprises is one of the largest development and management companies in metro Washington, D.C. The company’s portfolio includes Dulles Town Center, a 1.4 million-square-foot regional mall in Loudoun County, Va., and Washington Square, a 1 …
CHARLESTON, S.C. — CBRE has arranged $35.5 million in financing for Half Mile North and Pacific Box & Crate, two mixed-use projects on the Charleston peninsula. CBRE’s Jeff Ackemann and Porter McDonald arranged the permanent mortgage through Nationwide Real Estate Investments on behalf of the borrower, Raven Cliff Co. LLC. In 2016, the CBRE team secured a $35 million construction loan to recapitalize the Half Mile North Development and provide construction financing for the Pacific Box & Crate project. Together, the developments encompass 222,113 square feet of office space and chef-driven food options. The projects were 97 percent leased at the time of sale. SIB, Integral Solutions Group, BoomTown!, Phish Labs and Blue Acorn are among the developments’ current tenants.
