Southeast

George Smith Partners Secures $125M Loan for Phase I of Celebration Pointe

by John Nelson June 5, 2015

GAINESVILLE, FLA. — Los Angeles-based George Smith Partners has closed a $125 million construction loan for the development of Celebration Pointe, a large-scale mixed-use development underway in Gainesville. George Smith Partners secured the financing on behalf of the project’s developers, comprising Gainesville-based SHD Development, Atlanta-based Ra Co Real Estate Advisors and Miami-based 1220G. Located at the intersection of I-75 and Archer Road and anchored by Bass Pro Shops, the $200 million, 1 million-square-foot Celebration Pointe will feature a mix of approximately 400,000 square feet of entertainment, outlet retail and restaurants uses, as well as a new 137-room Hotel Indigo. Phase I of Celebration Pointe is slated to open in fall 2016.

June 5, 2015

Maryland Office Southeast

HFF Brokers $63.5M Sale of, Arranges Financing for Downtown Bethesda Office Building

by John Nelson June 5, 2015

BETHESDA, MD. — HFF has brokered the $63.5 million sale of Bethesda Office Center, a 174,449-square-foot, Class A office building located at 4520 East-West Highway in downtown Bethesda. The office property is located at the intersection of East-West Highway and Waverly Street, one block from the Bethesda Metrorail Station. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley, Matthew Nicholson and Robert Jenkins of HFF represented the seller, AEW Capital Management LLC, in the transaction. HFF also arranged acquisition financing on behalf of the undisclosed buyer. Cary Abod and Robert Carey of HFF arranged the fixed-rate loan through JP Morgan Chase Bank, NA.

June 5, 2015

Office South Carolina Southeast

RealOp Investments, Terra Capital Buy Office Portfolio in Greenville

by John Nelson June 5, 2015

GREENVILLE, S.C. — RealOp Investments and Terra Capital Partners have partnered to acquire and manage an office portfolio in Greenville totaling 570,000 square feet. The properties in the portfolio include two office parks totaling 12 buildings. Park East comprises nine multi-tenant office assets, and Park Central contains three buildings. RealOp, along with leasing and management partner NAI Earle Furman, will update, rebrand and reposition the office properties in the portfolio, and Terra Capital Partners will provide financing.

June 5, 2015

Multifamily South Carolina Southeast

Hamilton Point Investments Acquires Apartment Community in Metro Charlotte for $13.4M

by John Nelson June 5, 2015

ROCK HILL, S.C. — Hamilton Point Investments LLC, a Connecticut-based multifamily owner, has purchased the 168-unit Cushendall Commons for $13.4 million. Built in 2002, the apartment community is located directly off of I-177 in Rock Hill, roughly 24 miles south of downtown Charlotte. The complex’s amenity package includes a swimming pool, business center and 24-hour fitness center. The property was 98.1 percent occupied at the time of sale. Alex Brown of Cushman & Wakefield of Georgia Inc. represented the seller, JMG Realty, in the transaction. Hamilton Point Investments was self-represented.

June 5, 2015

the Old No. 77 Hotel & Chandlery New Orleans

Hospitality Louisiana Southeast

Provenance Hotels, GB Lodging, Woodbine Open New Hotel in New Orleans’ Warehouse Arts District

by John Nelson June 4, 2015

NEW ORLEANS — Provenance Hotels, GB Lodging and Woodbine Development Corp. have partnered to co-develop and open the Old No. 77 Hotel & Chandlery, a boutique hotel located in New Orleans’ historic Warehouse Arts District. Originally built in 1854, the historic property is located at the intersection of Tchoupitoulas and Lafayette streets, roughly four blocks from the French Quarter. The hotel features hardwood floors, exposed brick walls, an art collection courtesy of the New Orleans Center for the Creative Arts and a new restaurant. Nina Compton is the head chef and owner of the restaurant, known as Compere Lapin. In August 2013, Provenance Hotels and GB Lodging purchased the historic hotel property, then known as the Ambassador Hotel. The companies partnered with Woodbine Development to renovate the hotel and expand the guest room count to 167. According to the hotel’s website, rooms rent for as low as $109 per night.

June 4, 2015

Georgia Retail Southeast

Newly Opened Dollar General in Georgia Marks Company’s 12,000th Store

by John Nelson June 4, 2015

JULIETTE, GA. — Goodlettsville, Tenn.-based Dollar General Corp. has opened its 12,000th store in the small, historic town of Juliette. Dollar General anticipates opening 730 new stores in 2015 and plans to remodel or relocate an additional 875 stores. “It is exciting to open our 12,000th store and move into new communities where we can serve customers with everyday low prices, convenience and great service,” says Rick Dreiling, Dollar General’s chairman and CEO. With 12,000 stores in 43 states, Dollar General has more retail locations than any retailer in America.

June 4, 2015

Multifamily North Carolina Southeast

MHA Brokers $13.9M Sale of Apartment Community in Triangle Area

by John Nelson June 4, 2015

CARY, N.C. — Multi Housing Advisors (MHA) has brokered the $13.9 million sale of Northwoods Townhomes, a 137-unit apartment community located at 411 Gregory Drive in Cary, a town in North Carolina’s Triangle region. The property’s amenity package includes a fitness center, outdoor kitchen, swimming pool and lighted tennis court. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, QR Capital, in the transaction. The buyer was an undisclosed private investor based in New Jersey.

June 4, 2015

Florida Retail Southeast

Coldwell Banker Commercial NRT Brokers $2.4M Sale of Orlando Shopping Center

by John Nelson June 4, 2015

ORLANDO, FLA. — Sean Glickman of Coldwell Banker Commercial NRT has brokered the $2.4 million sale of Goldenrod Crossings, a shopping center located at 7830 E. Colonial Drive in Orlando. The center’s tenant roster includes Trustco Bank, Ocean Fish Market Inc., MV Pawn, Repair Center of Orlando and Dream Team Barbershop. Glickman represented the seller, Colonial and Goldenrod Crossings LLC, in the transaction. The buyer was MSR Colonial LLP.

June 4, 2015

Georgia Office Southeast

NorthMarq Capital Arranges Loan for Office Building in Atlanta

by John Nelson June 4, 2015

ATLANTA — NorthMarq Capital has arranged permanent debt financing for Intellicenter, a 150,000-square-foot, LEED Silver-certified office property located at 2531 Sever Road in Atlanta. Warren Hitchcock of NorthMarq’s Houston office arranged the 12-year loan with a 30-year amortization schedule through an undisclosed life insurance company on behalf of the borrower, Susquehanna Holdings Ltd. The office building was fully leased at the time of the loan transaction.

June 4, 2015

Multifamily South Carolina Southeast

Colliers Brokers $22.9M Sale of Apartment Community in Suburban Columbia

by John Nelson June 3, 2015

ELGIN, S.C. — Colliers International has brokered the $22.9 million sale of Legacy at Sandhill, a 240-unit Class A apartment community located in Elgin, a suburb of Columbia. Will Mathews, Ron Cameron and Woody Moore of Colliers represented the seller, Atlanta-based Mesa Capital Partners, in the transaction. The buyer was the Wilkinson Group, also based in Atlanta.

June 3, 2015

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