Southeast

Atlanta United Opens $60M Soccer Training Facility North of the City

by John Nelson April 13, 2017

MARIETTA, GA. — Atlanta United, a new Major League Soccer franchise, has opened its $60 million training facility on Franklin Gateway in Marietta, a northern suburb of Atlanta. Named the Children’s Healthcare of Atlanta Training Ground, the 33-acre project features a 30,000-square-foot headquarter building and six full-size soccer fields, including three natural grass and three FieldTurf surfaces. The architect, Atlanta-based tvsdesign, is applying the facility for LEED Silver certification. The headquarters building features a team locker room with 22-foot ceilings and 14 elevated windows, six additional locker rooms, full-service kitchen and dining room with balcony access, show pitch featuring a 2,500-seat stand and separate pavilion for viewing, gym, two hydrotherapy plunge pools and entrance artwork created by South African artist Marco Cianfanelli. The Children’s Healthcare of Atlanta Training Ground will hold open training sessions and tournaments, as well as host visiting national and international clubs. The project will also be home to the club’s youth academy, first team players and club staff.

April 13, 2017

JE Dunn Construction Breaks Ground on Apartment Community in Metro Atlanta

by John Nelson April 13, 2017

ALPHARETTA, GA. — JE Dunn Construction has begun building a four-story, 168-unit apartment community within the Alpharetta City Center development. The property will also feature 40,000 square feet of retail space and 115 below-grade parking spaces. The apartment community is JE Dunn’s fourth project with multifamily developer South City Partners. The Alpharetta City Center project is a redevelopment plan that includes civic buildings, public spaces, residential, office, retail and mixed-use buildings.

April 13, 2017

Arkansas Loans Multifamily Southeast

Pillar Originates $25.5M HUD Loan for Multifamily Property in Little Rock

by John Nelson April 13, 2017

LITTLE ROCK, ARK. — Pillar, a division of SunTrust Bank, has originated a $25.5 million HUD loan for the refinancing of Metropolitan Apartments, a 260-unit multifamily community in Little Rock. The market-rate property was fully occupied at closing. Evan Hom of Pillar’s New York office originated the 35-year loan on behalf of the borrower, Transcontinental Realty Investors/Adobe Properties, a Dallas-based multifamily property owner and developer. The HUD financing features a fixed interest rate and a 35-year amortization schedule.

April 13, 2017

Florida Multifamily Southeast

Franklin Street Brokers $21.3M Sale of Apartment Community in Orlando

by John Nelson April 13, 2017

ORLANDO, FLA. — Franklin Street has arranged the $21.3 million sale of Chowder Bay Apartments, a 304-unit multifamily community located at 4700 Rio Grande Ave. in Orlando. Fieldstone Properties LLC, a private equity investment firm, sold the asset to Dominium Management Services LLC, a Minneapolis-based apartment development and management company. Chowder Bay is a gated complex that features a swimming pool and sundeck, fitness center, lighted tennis courts and a children’s playground. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street’s Tampa office represented the buyer and seller in the transaction.

April 13, 2017

Florida North Carolina Office Southeast

Dilweg Acquires Two-Building Office Portfolio in Charlotte, Sarasota for $115.5M

by John Nelson April 12, 2017

CHARLOTTE, N.C. AND SARASOTA, FLA. — The Dilweg Cos. has purchased a two-building office portfolio in the Southeast for $115.5 million. The assets include the 23-story First Citizens Bank Plaza in Uptown Charlotte and the two-tower Sarasota City Center in downtown Sarasota. Built in 1986 and renovated in 2002, the 476,393-square-foot First Citizens Bank Plaza was 29 percent leased at the time of sale to tenants such as First Citizens Bank, Advanced Disposal, The Carlyle Group and ManpowerGroup. Dilweg, which also announced the opening of its new Charlotte office, has tapped Tom Fitzgerald and Barry Fabyan of JLL to lease the property. Built in 1989, the 245,293-square-foot Sarasota City Center was 88 percent leased at the time of sale to tenants such as Boar’s Head, Wells Fargo, Merrill Lynch and UBS. Dilweg has retained Lori Hellstrom of Colliers International’s Tampa Bay office to lease Sarasota City Center. Dilweg plans to invest more than $10 million in capital improvements for First Citizens Bank Plaza and more than $4 million to improve Sarasota City Center. Ryan Clutter, Scot Humphrey, Herman Rodriguez, Tracey Goo and Chris Lingerfelt of HFF represented the sellers, Osprey East LLC and Osprey s.a. Ltd., in the transaction. Travis …

April 12, 2017

Industrial South Carolina Southeast

Miller-Valentine Breaks Ground on 200,000 SF Spec Industrial Facility in South Carolina

by John Nelson April 12, 2017

WEST COLUMBIA, S.C. — Miller-Valentine Group has begun construction on Midway Logistics II, a 200,000-square-foot speculative industrial facility located at 825 Bistline Drive in West Columbia. The property will be situated within Lexington County Industrial Park, a 350-acre master-planned industrial development located at the intersection of Interstates 77 and 26. Miller-Valentine Group has awarded Colliers International the leasing assignment for Midway Logistics II, which is the first speculative industrial facility built by a private developer in South Carolina’s Midlands region since 2009.

April 12, 2017

Georgia Multifamily Southeast

Pollack Shores Opens Apartment Community in West Midtown Atlanta

by John Nelson April 12, 2017

ATLANTA — Pollack Shores Real Estate Group has opened Millworks at Howell Mill, a 345-unit apartment community located on Emery Street in Atlanta’s West Midtown district. The property, which has 80 residences under lease, is situated near the intersection of Collier and Howell Mill roads. Millworks features one- and two-bedroom apartments ranging from 727 to 1,581 square feet. Matrix Residential, a Pollack Shores subsidiary, is managing Millworks. Community amenities at Millworks at Howell Mill include a conference room, Google Fiber connectivity, resort-style saline pool, bocce ball court and an outdoor lounge.

April 12, 2017

Retail Southeast Tennessee

Branch, DeFoor to Build Publix-Anchored Shopping Center in Chattanooga

by John Nelson April 12, 2017

CHATTANOOGA, TENN. — Atlanta-based Branch Properties and DeFoor Development plan to develop The Village of Waterside, a 162,000-square-foot shopping center in Chattanooga’s Hamilton Mill neighborhood. The property, which will be anchored by Publix and REI, will be situated on 22.8 acres at the intersection of Shallowford and Gunbarrel roads. This will be the first Chattanooga store for REI, an outdoor gear and apparel retailer. Branch and DeFoor expect to deliver The Village of Waterside in late summer 2018.

April 12, 2017

Florida Industrial Southeast

Foundry Commercial, PGIM to Develop 510,000 SF Industrial Park in Orlando

by John Nelson April 12, 2017

ORLANDO, FLA. — Foundry Commercial has formed a joint venture with PGIM Real Estate to develop Princeton Oaks, a 510,000-square-foot, Class A industrial project in Orlando. The property, which is expected to add 300 new jobs to the area, will be situated on 60 acres near the intersection of John Young Parkway and Princeton Street. Foundry Commercial and PGIM expect to deliver Princeton Oaks in December.

April 12, 2017

District of Columbia Loans Multifamily Southeast

Walker & Dunlop Originates $183.1M in Financing for Two Multifamily Properties in D.C.

by John Nelson April 11, 2017

WASHINGTON, D.C. — Walker & Dunlop has arranged two loans totaling $183.1 million for Park Chelsea and 2M, two LEED-certified multifamily properties in Washington, D.C. Brendan Coleman, Keith Melton and David Strange led the Walker & Dunlop origination team, which arranged the transactions through Fannie Mae’s Green certification execution for Park Chelsea and the U.S. Department of Housing and Urban Development’s (HUD) refinance program for 2M on behalf of WC Smith, a developer and owner of affordable housing in the Mid-Atlantic region. Situated in Washington, D.C.’s NoMa district, 2M is a LEED Gold-certified property with 93 percent of its units reserved for low-income tenants, including renters using Section 8 vouchers. Community amenities include a rooftop pool, grilling area, indoor fitness center and basketball court and 24-hour concierge services. The property was 99 percent occupied at closing. WC Smith, which closed a HUD development loan for 2M two years ago, will use the $63.8 million loan to refinance existing debt. Park Chelsea is the first of three properties that will be known as The Collective, a rental community located in Washington, D.C.’s Capitol Riverfront. As a LEED Silver-certified building, the property qualified for Fannie Mae’s Green Building Certification financing, which totaled …

April 11, 2017

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