Southeast

Arbor Finances $67.5M in Multifamily Deals in Eastern U.S.

by John Nelson November 6, 2014

UNIONDALE, N.Y. — Arbor Commercial Funding LLC has funded 20 loans totaling $67.5 million for apartment communities in the eastern United States. Alexander Kaushansky of Arbor’s New York office originated all 20 loans. The properties include Harbor Pines Apartments in Saint Marys, Ga.; Frontier Apartments in Roanoke, Va.; Courtyard Park Apartments in Hyattsville, Md.; a multifamily portfolio in Dallas and Charlotte; Anderson Springs in Austin, Texas; an unnamed property in Charlotte; Winterwood Apartments in Columbus, Ohio; Beechwood Park Apartments in Vicksburg, Miss.; Apartments at 45th and Eads in Washington, D.C.; 370 Central Ave. in the Brooklyn borough of New York City; 18th Avenue Apartments in Newark, N.J.; Dauphine Apartments in Mobile, Ala.; Twin Oaks Apartments in Mobile, Ala.; Woodside Villas in Fort Myers, Fla.; Georgia Pine Townhomes in West Palm Beach, Fla.; Sunshine Garden Apartments in Pembroke Pines, Fla.; Palm Villas in Fort Myers, Fla.; Monvil Apartments in Lake Worth, Fla.; Parkside Villas in Fort Myers, Fla.; and Hemingway at Stuart in Stuart, Fla.

November 6, 2014

Accesso Partners Buys Class A Office Building in Remount Business Park

by John Nelson November 6, 2014

NORTH CHARLESTON, S.C. — Accesso Partners LLC has purchased Remount II, a Class A, 105,147-square-foot office building in North Charleston. The property is located at 1141 Remount Road in the Remount Business Park. The sales price was undisclosed. The 65-acre Remount Business Park was co-developed by Remount Venture, Venture One Real Estate Co. and Chicago-based Clayco Corp. Remount II was 92 percent leased at the time of sale to tenants such as SAIC International, Booz Allen Hamilton, CACI, Simplex Grinnell/TYCO and ManTech. HFF’s debt placement team led by senior managing director Susan Hill secured a senior loan through JP Morgan Securities Inc. Paul Gaines of Accesso Partners will take over as asset manager for Remount I and II, and Accesso Services will assume property management services. Glenn Goodwin and Bart Langlois of Landmark Enterprises in Mt. Pleasant, S.C. remain leasing brokers for Remount II.

November 6, 2014

Industrial Mississippi Southeast

Hart Corp. Brokers Sale of 200,000 SF Industrial Facility in Mississippi

by John Nelson November 6, 2014

SENATOBIA, MISS. — Hart Corp. has brokered the sale of a 198,723-square-foot facility on an 18.7-acre site in Senatobia. Jim Belcher and Bart Hardison of Hart Corp. represented the buyer, Calbee North America LLC, a Japanese joint venture. Colliers International represented the seller, The Hollingsworth Co., in the transaction. Tim Climer of the Tate County Economic Development Foundation and Emlyn Jackson of the Mississippi Development Authority assisted in attracting Calbee North America LLC to the facility.

November 6, 2014

Georgia Loans Southeast

Colliers Closes $11.6M Refinancing for Apartment Portfolio in Atlanta’s Castleberry Hill

by John Nelson November 6, 2014

ATLANTA — Colliers International has arranged an $11.6 million refinancing for a portfolio of three apartment communities totaling 143 units in Atlanta’s Castleberry Hill neighborhood. The properties — Stonewall Lofts, Legacy Lofts and Intown Lofts — currently have a 91 percent occupancy rate. H.J. Russell & Co. developed the four buildings between 1998 and 2003. Rod Mullice and Kevin Troy of Colliers International arranged the loan through Prudential Mortgage Capital Co. on behalf of the borrower, an affiliate of H.J. Russell & Co.

November 6, 2014

Alabama Loans Southeast

Capital One Provides $7.7M Loan to Refinance Tuscaloosa Student Housing Properties

by John Nelson November 6, 2014

TUSCALOOSA, ALA. — Capital One Multifamily Finance has provided a $7.7 million Fannie Mae loan to refinance two student apartments in Tuscaloosa near the University of Alabama. The financing will be used to retire construction debt on the 33-unit Central Park Apartments and the six-unit Gramercy Park Apartments. Chad Thomas Hagwood of Capital One Multifamily’s Birmingham office originated the 10-year loan with two years of interest-only payments and a 30-year amortization schedule. College Station Properties will manage the two apartment communities, which are fully occupied and consist of two- to four-bedroom units.

November 6, 2014

Alabama Multifamily Southeast

Berkadia Brokers $63.4M Sale of Multifamily Portfolio in Hoover

by John Nelson November 5, 2014

HOOVER, ALA. — Berkadia has brokered the $63.4 million sale of a three-property, 825-unit multifamily portfolio in Hoover known as the “Hoover 3 Portfolio”. The properties — Park at Galleria, Place at Galleria and Renaissance at Galleria — sold for $76,784 per unit. David Oakley, David Etchison and Royce Emerson of Berkadia represented the seller, CLK Properties, in the transaction. The buyer was Chicago-based Intercapital Partners Ltd.

November 5, 2014

Florida Multifamily Southeast

Grass River Property Breaks Ground on Transit-Oriented Multifamily Development in Miami

by John Nelson November 5, 2014

MIAMI — Grass River Property has commenced construction on Grove Station Tower, a transit-oriented apartment community located a half-block from the Coconut Grove Metrorail station in Miami. The 184-unit project will be located at 2700 SW 27th Ave. upon completion in early 2016. Grove Station Tower will comprise one-, two- and three-bedroom apartments averaging 1,000 square feet. The property will also feature 6,000 square feet of ground-floor retail space. The design team includes architect Behar Font & Partners and general contractor Ortega Juneau Construction Co.

November 5, 2014

Florida Multifamily Southeast

Marcus & Millichap Brokers $19.3M Sale of Two Adjacent Apartment Communities in Fort Myers

by John Nelson November 5, 2014

FORT MYERS, FLA. — Marcus & Millichap has brokered the sale of Bella Rosa Apartments and Park Place Apartments in Fort Myers. Located directly across the street from each other, the two assets sold for approximately $19.3 million. The 160-unit Bella Rosa Apartments features two on-site laundry facilities, a fitness center, playground, dog walking area, picnic areas, business center, clubhouse and a swimming pool. The 177-unit Park Place Apartments includes an on-site laundry facility, fitness center, playground, picnic areas and two swimming pools. Michael Regan and Frank Carriera of Marcus & Millichap’s Tampa office represented both the buyer and seller in the transaction.

November 5, 2014

Loans North Carolina Southeast

NorthMarq Arranges $14M Acquisition Financing for Raleigh Apartment Community

by John Nelson November 5, 2014

RALEIGH, N.C. — NorthMarq Capital has arranged $14 million in acquisition financing for Crossroads North Hills Apartments, a 228-unit multifamily property in Raleigh. Brett Mason of NorthMarq Capital’s Raleigh office arranged the 12-year loan with three years of interest-only payments and a 30-year amortization schedule through the Fannie Mae DUS platform.

November 5, 2014

Florida Loans Southeast

RED Capital Closes $10M Acquisition Loan for Two Seniors Housing Facilities in Metro Miami

by John Nelson November 5, 2014

NORTH MIAMI AND MARGATE, FLA. — RED Capital Partners LLC has completed a $10 million balance sheet loan on behalf of the borrower, Livewell Senior Living. The acquisition financing will allow Livewell to purchase two assisted living/memory care facilities in the Miami-Fort Lauderdale-Pompano Beach MSA. The two properties include Livewell at Courtyard Plaza, a 68-unit facility in North Miami, and Livewell at Coral Plaza, a 100-unit property in Margate. RED Capital Partners LLC is the proprietary debt and equity banking arm of RED Capital Group LLC.

November 5, 2014

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