Southeast

Capstone Apartment Partners Brokers $12.8M Sale of Charlotte Apartment Community

by John Nelson May 27, 2015

CHARLOTTE, N.C. — Capstone Apartment Partners has brokered the $12.8 million sale of Hunter’s Pointe, a 394-unit apartment community located in Charlotte. The property is located roughly five miles from Uptown Charlotte. ACRE purchased the asset from Hunter’s Apartments LLC for roughly $32,616 per unit. The apartment community has received approximately $3 million in upgrades over the past 10 years and was 85 percent occupied at the time of sale. Brian Ford, Beau McIntosh and Alex McDermott of Capstone Apartment Partners represented the seller in the transaction.

May 27, 2015

Maryland Mixed-Use Southeast

Medical Office Tenant, Package Store Join Gateway at UTC in Metro D.C.

by John Nelson May 27, 2015

HYATTSVILLE, MD. — ECHO Realty and Bernstein Cos. have signed two new tenants to their Gateway at UTC mixed-use development in Hyattsville, a Maryland suburb seven miles northeast of Washington, D.C. The Gateway at UTC development is currently under construction and will be located along East-West Highway, between America Boulevard and Democracy Avenue. The two new tenants joining the development are MedStar Health and Town Center Wine & Spirits. MedStar will operate a primary care office and a MedStar PromptCare urgent care facility comprising 10,000 square feet on the second level of the commercial development. With the majority of parking situated on the second story, patrons will have drive-up access to both MedStar and Phenix Salon Suites, the other tenant to occupy the project’s upper level. On the first floor, Town Center Wine & Spirits will occupy 3,600 square feet at the north end of the street-level retail lining America Boulevard. The mixed-use development is currently 95 percent pre-leased to tenants such as Safeway, Unleashed by Petco and Le’s Nails. Safeway is on schedule to open this fall with other retailers opening soon thereafter.

May 27, 2015

Florida Hospitality Southeast

Pebblebrook Hotel Trust Acquires Resort, Private Club in Naples for $185.5M

by John Nelson May 26, 2015

NAPLES, FLA. — Pebblebrook Hotel Trust, a publicly traded hotel REIT, has purchased LaPlaya Beach Resort and LaPlaya Beach Club in Naples for a combined purchase price of $185.5 million. LaPlaya Beach Resort is a 189-room waterfront resort located on a six-acre tract of beach along the Gulf of Mexico and Vanderbilt Bay. The resort features 11,620 square feet of meeting space, a bar/restaurant, upscale spa, three outdoor swimming pools, 2,200-square-foot fitness center, seven-story parking garage, children’s aquatic and beach camp, watersport rentals and in-room dining. The private club has more than 800 active members and features a private dining room, private pool cabanas and a partnership with the LaPlaya Golf Course, which was not included in the acquisition. In addition to the resort and private club, the transaction includes the leasehold interest in a 23-slip marina on the Vanderbilt Bay side of the property. Daniel Peek, Max Comess, Chris Drew, Alexandra Lalos and Maxx Carney of HFF represented the seller, a partnership between affiliates of Noble House Hotels & Resorts Ltd. and Halstatt, in the transaction. Pebblebrook has retained Noble House Hotels & Resorts under a new operating agreement for the management of the hotel and private club.

May 26, 2015

Georgia Hospitality Southeast

HOS Management Breaks Ground on Hotel, Parking Garage in Downtown Savannah

by John Nelson May 26, 2015

SAVANNAH, GA. — HOS Management has begun construction on the new Fairfield Inn & Suites-Historic Savannah at 135 Martin Luther King Jr. Blvd. in downtown Savannah. The Savannah-based developer has also begun building a public parking garage located adjacent to the hotel. The hotel will feature 140 guest rooms and meeting space that can accommodate up to 385 people. HOS Management expects to deliver the hotel and parking garage in July 2016. The company is also in the design/development stage for a new Aloft hotel in Savannah’s Historic District and has a future hotel in the pipeline at 321 Montgomery St. in Savannah.

May 26, 2015

Georgia Seniors Housing Southeast

Juneau Begins Final Phase of Construction on CCRC in Georgia

by John Nelson May 26, 2015

CUMMING, GA. — Atlanta-based contractor Juneau Construction Co. has entered the final phase of construction for The Villas at Canterfield in Cumming, which includes a 146,000-square-foot independent living apartment facility. The structure under construction is a four-story building housing 76 residential units, plus a pool, exercise facilities, multi-purpose activity rooms, a club area, country store, fully equipped communal kitchen, restaurant-style dining area and an outdoor courtyard. Juneau expects to complete construction of The Villas at Canterfield by November. The developer is Medical Development Corp., and the architect and engineer is The Corcoran Ota Group.

May 26, 2015

Retreat Village St. Simons Island Winn-Dixie

Georgia Retail Southeast

Westwood Financial Corp. Acquires Grocery-Anchored Center in St. Simons Island

by John Nelson May 26, 2015

ST. SIMONS ISLAND, GA. — Westwood Financial Corp. (WFC) has acquired Retreat Village, a 108,600-square-foot grocery-anchored shopping center located at 220 Retreat Village in St. Simons Island. WFC purchased the Winn Dixie-anchored center from Pace Properties LLC and Somera Capital Management LLC for an undisclosed price. The property is currently 97 percent occupied by tenants including H&H Lifestyles, Bonefish Grill, Edwin Watts Golf, AT&T, Great Clips, Subway, Burger King and Verizon Wireless. Richard Reed of HFF represented the sellers in the transaction.

May 26, 2015

Maryland Mixed-Use Southeast

Finmarc Management Sells Mixed-Use Building in Maryland for $6M

by John Nelson May 26, 2015

UPPER MARLBORO, MD. — Finmarc Management Inc. has sold a 108,000-square-foot mixed-use property at 9822 Fallard Court in Upper Marlboro for $6 million. The buyer, Chesapeake Lighthouse Foundation, plans to reposition the two-story asset as a new campus for Chesapeake Math and IT Academy (CMIT), a charter middle school and high school. Built in 1994, the building was previously the corporate headquarters for Mattress Discounters. Peter Burleigh and Lance Schwarz of NAI Michael represented Finmarc in the transaction. Over the past 24 months, Finmarc and its partners have acquired or sold nearly $400 million worth of properties. CMIT opened its first school in Prince George’s County in 2011.

May 26, 2015

Miami Beach Convention Headquarter Hotel

Florida Hospitality Southeast

City of Miami Beach Selects Portman Holdings to Develop $405M Convention HQ Hotel

by John Nelson May 22, 2015

MIAMI BEACH, FLA. — The city of Miami Beach commission has selected developer Portman Holdings and architect John Portman & Associates to develop and design the $405 million Miami Beach Convention Headquarter Hotel. The selection allows for the city manager to negotiate the terms of the development and ground lease for the hotel. The 800-room hotel will feature several pools, a fitness center, spa, business center and multiple food and beverage outlets, including a café, full-service restaurant and rooftop lounge. Another feature of the hotel is a grand welcoming gateway at the main intersection of 17th Street and Convention Center Drive. The hotel development will not use any taxpayer dollars — Portman’s plan is 100 percent privately funded with both debt and equity sources. The design team includes local architect Revuelta Architecture International and landscape architect West 8.

May 22, 2015

Multifamily South Carolina Southeast

Proffitt Dixon Partners to Break Ground on Apartment Community in Greenville

by John Nelson May 22, 2015

GREENVILLE, S.C. — Proffitt Dixon Partners plans to break ground this month on Fountains Greenville, a 201-unit luxury apartment community in Greenville. The new five-story community will be located on a 2.5-acre site at 210 E. Broad St., within walking distance of Greenville’s central business district and the Swamp Rabbit Trail. Upon completion in the fall of 2016, the property will feature a clubhouse, courtyards, pool and a fitness center. The design team includes architect The Housing Studio and general contractor Creative Builders Group. Fountains Greenville is Proffitt Dixon’s first development in South Carolina.

May 22, 2015

Georgia Industrial Southeast

CenterPoint Properties to Build New Spec Industrial Facility in Savannah

by John Nelson May 22, 2015

SAVANNAH, GA. — CenterPoint Properties will break ground on a new 315,810-square-foot speculative industrial facility in Savannah. The new development will be located within CenterPoint Intermodal Center-Savannah on a 26-acre lot with direct access to the Georgia Port Authority and NS Dillard Yard, as well as direct rail service from Norfolk Southern. John Neely of Colliers International will market the property.

May 22, 2015

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