Southeast

HFF Arranges $42M Loan for 11-Story Office Tower in D.C.’s East End

by John Nelson November 12, 2014

WASHINGTON, D.C. — HFF has secured $42 million in financing for 620 F St., an 11-story, 119,649-square-foot office tower in Washington, D.C.’s East End submarket. Sue Carras, Walter Coker, Brian Crivella and Nicole Snarski of HFF arranged the 25-year, fixed-rate loan through Prudential Mortgage Capital Co. on behalf of the borrower, BAC F Street LLC. Completed in 2006, the office tower is fully leased to tenants such as AARP and the International Union of Bricklayers and Allied Craftworkers. R.J. Davis of Pillsbury Winthrop Shaw Pittman LLP provided legal counsel of behalf of the owner.

November 12, 2014

North Carolina Office Southeast

Portman Holdings Unveils Plans for 19-Story Office Tower in Charlotte

by John Nelson November 12, 2014

CHARLOTTE, N.C. — Portman Holdings has shared its design details and renderings of 615 South College, a 19-story office tower in Uptown Charlotte. Portman has begun the permitting process and expects to break ground in June 2015. Travis Garland of Portman will work with Trinity Partners to lease and market the 370,000-square-foot tower, which is slated for a fourth quarter 2016 completion. The property will feature an elevated green plaza, two-story corner balconies, floor-to-ceiling windows, signage opportunities fronting I-277, a fitness center and a conference facility. The tower will be situated atop an underground parking garage. Architect John Portman & Associates is designing 615 South College to achieve LEED Gold certification.

November 12, 2014

Florida Industrial Southeast

PS Business Parks Buys Industrial Building in Metro Miami

by John Nelson November 12, 2014

DORAL, FLA. — PS Business Parks Inc. has purchased a 148,618-square-foot, Class A industrial building located in the Miami International Commerce Center. Dubbed 2323 at MICC, the industrial building is located at 2323 N.W. 82nd Ave. in Doral and is 100 percent vacant. The property features a two-story open office space, air-conditioned warehouse with 16- to 24-foot clear heights and a fully fenced parking lot.

November 12, 2014

Florida Loans Southeast

Capital One Originates $6.4M CMBS Acquisition Loan for Florida Apartment Community

by John Nelson November 12, 2014

FORT WALTON BEACH, FLA. — Capital One Multifamily Finance has originated a $6.4 million fixed-rate loan through an unnamed CMBS lender for the acquisition of Colony House Apartments. The 139-unit, garden-style apartment community is located in Fort Walton Beach. Chad Thomas Hagwood of Capital One Multifamily originated the 10-year loan with three years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Engel Realty. Jimmy Adams of Multi Housing Advisors’ Birmingham office brokered the sale of Colony House Apartments.

November 12, 2014

Georgia Loans Southeast

Grandbridge Closes $4.5M Mezzanine Loan for Acquisition of Metro Atlanta Seniors Facility

by John Nelson November 12, 2014

SUWANEE, GA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has closed a $4.5 million supplemental loan for Noble Village of Sugarloaf. The loan will be used in conjunction with the assumption of the existing $19 million first mortgage and acquisition of the seniors housing property. Located in the Atlanta suburb of Suwanee, the 109-unit community features a pool, fitness center, library, media center, billiards room, theater, coffee house, walking paths, beauty salon and a barber shop. Richard Thomas of Grandbridge originated the fixed-rate Fannie Mae DUS loan at the same time as the assumption of the existing Fannie Mae loan, which Grandbridge had originated for the seller several years earlier.

November 12, 2014

Florida Multifamily Southeast

CBRE Brokers $52M Sale of The Manor in Plantation

by John Nelson November 11, 2014

PLANTATION, FLA. — CBRE has brokered the $52 million sale of The Manor in Plantation, a newly developed 197-unit apartment community. The mid-rise and townhome residential asset is located at 601 N.W. 82nd Ave. in Plantation. The Manor LLC purchased the apartment community from Veranda II Apartments LLC and Veranda II Townhomes LLC. The Manor’s rents have been averaging $1.99 per square foot and the property was 90 percent occupied at the time of sale. Amenities include a beach entry pool with a hot tub, clubroom with flat screen TV and WiFi loft, billiards and poker room, private dining room, business center with conference room, theater and a fitness center. Robert Given, Zachary Sackley, Gerard Yetming and Neal Victor of CBRE represented the seller in the transaction. Related Group of Florida delivered The Manor in 2013.

November 11, 2014

Georgia Southeast

Lincoln Property Co. Southeast Brokers $50M Sale of Data Center in Metro Atlanta

by John Nelson November 11, 2014

ALPHARETTA, GA. — Lincoln Property Co. Southeast has arranged the $50 million sale of a 184,553-square-foot data center in Alpharetta, a northern suburb of Atlanta. The data center is part of the 21-acre Windward Concourse Office Park. Carter Validus Mission Critical REIT purchased the property, which is fully occupied by GE under a long-term lease, from Datawind LLC. Tony Bartlett, Denton Shamburger and Chip Sipple of Lincoln Property Co. Southeast represented Datawind in the transaction.

November 11, 2014

Georgia Multifamily Southeast

Oak Coast, IMG Purchase Legacy Key Apartments in Metro Atlanta for $30M

by John Nelson November 11, 2014

SANDY SPRINGS, GA. — Oak Coast Properties and IMG have purchased Legacy Key Apartments, a 350-unit, Class B multifamily community in Sandy Springs, a northern suburb of Atlanta. Oak Coast and IMG purchased the asset from DRA Advisors LLC. Oak Coast is planning a $2 million capital improvement program for the property that includes a rebranding. Units average 959 square feet and are configured in both garden-style and townhome formats. Legacy Key’s amenity package includes controlled access gates, a clubhouse, business center, fitness center, two swimming pools, two lighted tennis courts, gazebo, picnic and grilling areas, car care center and a laundry facility.

November 11, 2014

Office Southeast Virginia

The Simpson Organization Purchased Office Portfolio in Richmond for $22M

by John Nelson November 11, 2014

RICHMOND, VA. — The Simpson Organization has acquired Westerre I and II, a Class A office portfolio in the Westerre Office Park in Richmond, for $22 million. The office assets total 163,290 square feet and are 92.1 percent leased to 26 tenants, including Tridium Inc., Interbake Foods LLC, Comcast and Batzli Stiles Butler Law Firm. Eric Robison of Cushman & Wakefield | Thalhimer’s Richmond office represented the undisclosed seller in the transaction. The Simpson Organization has hired Dean Meyer and Mac Wilson of Cushman & Wakefield | Thalhimer to lease the properties going forward.

November 11, 2014

Multifamily Southeast Virginia

ARA Brokers Sale of Infinity Apartments in Arlington

by John Nelson November 11, 2014

ARLINGTON, VA. — ARA has brokered the sale of Infinity Apartments, a 227-unit, mid-rise apartment community in Arlington. Washington, D.C.-based Capital Investment Advisors acquired the property from San Francisco-based Carmel Partners for an undisclosed price. Drew White, Mike Marshall and Ryan Ogden of ARA represented Carmel Partners in the transaction. Capital Investment Advisors plans to make upgrades to the common areas of the apartment community, which was constructed in 1959 and renovated in 2011. Occupancy at the time of the sale was 96.7 percent.

November 11, 2014

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