Southeast

Berkadia Brokers $14M Sale of Affordable Housing Complex in Miami

by John Nelson November 8, 2016

MIAMI — Berkadia has brokered the $14 million sale of Cutlerwood Apartments, a 161-unit affordable housing community located in Miami’s Cutler Bay neighborhood. Asden Realty purchased the Section 8 property from American Federated Tile Corp. for roughly $134 per square foot. Berkadia arranged a six-year, $11.4 million Freddie Mac loan on behalf of Asden Realty to fund the acquisition. Tal Frydman, Fernando Polanco and Yoav Yuhjtman of Berkadia’s South Florida office brokered the sale, and Mitch Sinberg and Matt Robbins from the same office arranged the financing.

November 8, 2016

Georgia Mixed-Use Southeast

Avison Young Arranges $13M Sale of Mixed-Use Development in Downtown Augusta

by John Nelson November 8, 2016

AUGUSTA, GA. — Avison Young has arranged the $13 million sale of Enterprise Mill, a 179,122-square-foot mixed-use development located on nine acres at 1450 Greene St. in downtown Augusta. The project features 118,928 square feet of office and retail space and 60 loft-style apartment residences. Enterprise Mill was approximately 90 percent occupied at the time of sale. AJ Belt III and David Duckworth of Avison Young represented the seller, Melaver/Enterprise Mill LLC, in the transaction. The buyer was Enterprise Mill LLC, a private investment group based in Coral Gables, Fla.

November 8, 2016

Retail Southeast Virginia

S.L. Nusbaum Brokers $8.2M Sale of Land in Hampton Roads Region for New Kroger Marketplace

by John Nelson November 8, 2016

CHESAPEAKE, VA. — S.L. Nusbaum Realty Co. has arranged the $8.2 million sale of 16.8 acres in Chesapeake for a new Kroger Marketplace store. Kroger LP I purchased the land situated at Dominion Boulevard and Cedar Road from Chesapeake Development. Tommy Drew of S.L. Nusbaum Realty represented Kroger in the purchase. The new 124,000-square-foot Kroger Marketplace will anchor the new shopping center at the site known as Dominion Commons. The new Kroger will feature 94,000 square feet of grocery space and 30,000 square feet of general merchandise, pharmacy, health and beauty and jewelry, as well as a fuel center. This store will be the sixth Kroger Marketplace in the Hampton Roads region and the second in Chesapeake. S.L. Nusbaum Realty is a member of X Team International.

November 8, 2016

Features Heartland Feature Archive Midwest Northeast Northeast Feature Archive Southeast Southeast Feature Archive Texas Texas & Oklahoma Feature Archive Top Stories Western Western Feature Archive

Forecast Survey: What’s Your Take on Real Estate in 2017?

by John Nelson November 8, 2016

REBusinessOnline.com is conducting a brief online survey of brokers, lenders and the owner/developer/manager community to gauge market expectations for 2017, and we welcome your participation. This survey should only take a few minutes to complete. The results will appear as a news feature story in the January 2017 issues of the regional publications. Questions cover a variety of topics, ranging from the outlook for investment sales and leasing activity in 2017 to development and lending opportunities to interest rates. Note: We prefer to attribute comments we quote from open-ended responses, however you may respond anonymously if you prefer. To take our 2017 broker survey, please click here To take our 2017 developer/owner/manager survey, please click here To take our 2017 lender survey, please click here Thanks for your participation! Matt Valley Editorial Director of Regional Real Estate Publications France Media, Inc.

November 8, 2016

Georgia Multifamily Southeast

Mill Creek Residential Breaks Ground on Phase II of Modera by Mill Creek-Morningside in Atlanta

by John Nelson November 7, 2016

ATLANTA — Mill Creek Residential has started construction on Phase II of Modera by Mill Creek-Morningside, which will add 21 apartment residences to the existing 300-unit community in Atlanta’s Morningside neighborhood. Phase II will face Piedmont Avenue and will also include 4,700 square feet of ground-floor retail space, which will add to the development’s 32,500 square feet of existing retail space anchored by a 26,755-square-foot Sprouts Farmers Market. Phase II will feature loft-style residences with 12-foot ceilings and a private patio or rooftop terrace featuring outdoor lighting, woven wood trellises and planters. The two phases of Modera by Mill Creek-Morningside will be connected via a pedestrian bridge.

November 7, 2016

Georgia Multifamily Southeast

Pacolet Milliken Acquires Apartment Community in Buckhead for $50.5M

by John Nelson November 7, 2016

ATLANTA — Pacolet Milliken Enterprises Inc. has purchased The Haynes House, a 186-unit luxury apartment community in Atlanta’s Buckhead district. The company bought the Class A asset from a partnership between AIG Global Real Estate Investment Corp. and Alliance Residential Co. for $50.5 million. Built in 2015, The Haynes House is located on a 2.5-acre site on Peachtree Road near Peachtree Battle Avenue at the entrance to Atlanta’s historic Haynes Manor neighborhood. The property features a clubhouse, resort-style swimming pool, fitness studio, library and a lounge. Greg Engler and Kris Mikkelsen led Walker & Dunlop’s investment sales team in representing the sellers in the transaction. Pacolet Milliken was self-represented. Haynes House was more than 90 percent occupied at the time of sale.

November 7, 2016

Georgia Office Southeast

Gamma, Meltzer Properties Buy Hurt Building in Downtown Atlanta for $33.6M

by John Nelson November 7, 2016

ATLANTA — Manhattan-based Gamma Real Estate and Atlanta-based Meltzer Properties have teamed up to purchase the historic Hurt Building, an 18-story, 436,337-square-foot office building in downtown Atlanta. Boxer Properties sold the asset to Gamma and Meltzer for $33.6 million. Built in 1913, the Hurt Building was renovated in 2013 and achieved LEED-EB Platinum certification in 2014. The property has been on the National Registry of Historic Places since 1977. The Hurt Building is situated at the southeast corner of Edgewood and Peachtree Center avenues within walking distance of three MARTA stations. The asset features a marble lobby and entrance, 12 elevators, a nine-story parking garage with 618 on-site parking spaces, after-hours card access, two restaurants, a Starbucks Coffee and an on-site Post Office substation.

November 7, 2016

South Carolina Southeast Student Housing

ARA Newmark Arranges $56M Sale of Student Housing Community Near the University of South Carolina

by John Nelson November 7, 2016

COLUMBIA, S.C. — ARA Newmark has arranged the $56 million sale of Aspyre, a 760-bed student housing community located near the University of South Carolina campus in Columbia. Ryan Lang of ARA Newmark represented the seller, Holder Properties, in the disposition of the property to Castlerock Enterprises. Community amenities at Aspyre include a resort-style pool with a beach area and grills; a clubroom with a bar area, a Nintendo Wii and a PlayStation; and a Zen courtyard with a putting green and 24-hour fitness center. Aspyre was 97 percent occupied at the time of sale.

November 7, 2016

Florida Retail Southeast

NGKF Capital Markets Brokers $13.5M Sale of Shopping Center in South Florida

by John Nelson November 7, 2016

COOPER CITY, FLA. — Newmark Grubb Knight Frank (NGKF) Capital Markets has arranged the $13.5 million sale of Stirling Town Center, a 53,857-square-foot shopping center located on a 5.9-acre site at 8637-8861 Stirling Road in Cooper City. Built in 2005, the shopping center was 92 percent leased at the time of sale to tenants such as Subway, Tijuana Flats, Starbucks Coffee, Smoothie King, Cold Stone Creamery, Beef ‘O’ Brady’s and Aroma Kosher Market and Catering. Michael Lapointe and Michael Lohmann of NGKF Capital Markets represented the seller, LNR Partners LLC, in the transaction.

November 7, 2016

Florida Office Southeast Top Stories

Joint Venture Purchases Park Tower in Downtown Tampa for $79.8M

by Nellie Day November 7, 2016

TAMPA, FLA. — A joint venture between City Office REIT (NYSE: CIO), Feldman Equities LLC and Tower Realty Partners has acquired Park Tower, a 475,000-square-foot office building in downtown Tampa, for $79.8 million. The 36-story tower is located at 400 N. Tampa St. The joint venture plans to make a substantial investment in the property to modernize the building. The building is approximately 86 percent leased. Notable tenants include BB&T, United States Department of Justice U.S. Attorney’s Office, Level 3 Communications and Lykes Insurance. The tower boasts views of Hillsborough Bay, the Hillsborough River and the Tampa skyline. Park Tower was built in 1973. It was the tallest building in Tampa until 1981 when One Tampa City Center was constructed. Park Tower has previously served as the headquarters for the First National Bank of Tampa, the Lykes Brothers Corp. and Colonial Bank. Park Tower is situated near the Florida Museum of Photographic Arts and Lykes Gaslamp Park, about two blocks from the Hillsborough River and the Tampa Riverwalk entertainment district. Mike DiBlasi of Feldman Equities will lead the building’s leasing efforts. The seller was Sterling American Property. City Office REIT currently owns about 1 million square feet of office properties …

November 7, 2016

Newer Posts

Older Posts