Southeast

ASHA Launches New Seniors Housing Website for Education Initiative

by John Nelson January 29, 2016

WASHINGTON, D.C. — The American Seniors Housing Association (ASHA) has launched its new website — Where You Live Matters (www.WhereYouLiveMatters.org) — along with a major social media outreach initiative. The new site is part of a larger initiative aimed at expanding the awareness of senior living through consumer education. The website’s content includes finance management resources, guides for prospective residents and their families, editorial columns and videos. “Our members and organization are committed to giving consumers across the country a place to learn more about the seniors housing landscape,” says David Schless, president of ASHA. “There are resources available, but we’re committed to painting a clearer picture.” In developing the website and related social media, ASHA established a committee that consisted of representatives from major senior living organizations and experts across the country, including Doug Schiffer of Allegro Senior Living; Jeff DeBevec of Belmont Village Senior Living; David Carliner of Brightview Senior Living; Jonathan Ruchman of Brookdale; Meg Ostrom of Enlivant; Letitia Jackson of Senior Star; Meghan Lublin and Sara Abriatis of Sunrise Senor Living; Dan McConnell, ASHA’s Public Relations Consultant; Dr. Margaret Wylde of ProMatura Group; and Jim Bowe of GlenAire HealthCare, who is the committee chairman. Dr. Roger …

January 29, 2016

Multifamily Southeast Virginia

Starwood Capital, Milestone Close $1.9B Acquisition of Landmark Apartment Trust

by John Nelson January 28, 2016

RICHMOND, VA. — In a previously announced transaction, Monument Partners LLC, an entity owned by Starwood Capital Group and Milestone Apartments Real Estate Investment Trust, has closed the $1.9 billion acquisition of Richmond-based Landmark Apartment Trust Inc. Landmark is a multifamily REIT with assets located in metropolitan areas throughout the Southern U.S., including Dallas, Atlanta, Orland, Tampa, Charlotte and Nashville. Landmark owns or has an ownership position in approximately 24,000 apartment units and provides management services for an additional 883 units owned by affiliates. Under the terms of the deal, Starwood Global Opportunity Fund X, through a controlled affiliate, will acquire Landmark Apartment Trust’s ownership interest in 19,615 units in 63 apartment communities. Milestone — which will acquire 4,172 units in 15 assets as part of the transaction — will serve as property manager for Starwood’s portion of the portfolio.

January 28, 2016

Tribute Portfolio Element by Westin Hotel Fort Lauderdale

Florida Hospitality Southeast

Tutor Perini to Build Dual-Branded Hotel Property in Downtown Fort Lauderdale

by John Nelson January 28, 2016

FORT LAUDERDALE, FLA. — Wurzak Hotel Group and DoveHill have selected Tutor Perini Building Corp. to construct a dual-branded Tribute Portfolio and Element by Westin hotel in downtown Fort Lauderdale. The new 24-story tower will feature a 209-room Tribute Portfolio hotel and a 114-room Element by Westin hotel. The property will also feature a rooftop lounge and restaurant, pool, gymnasium, parking within the projectg, ground-level retail space, a ballroom and several meeting rooms. Tutor Perini expects to break ground in the spring and wrap up construction in the fall of 2017.

January 28, 2016

5850 Peachtree Industrial Blvd Peachtree Corners

Georgia Industrial Southeast

Avison Young Brokers $9.4M Sale of Industrial Property in Metro Atlanta for High School Conversion

by John Nelson January 28, 2016

PEACHTREE CORNERS, GA. — Avison Young has brokered the $9.4 million sale of a 221,000-square-foot industrial facility located at 5850 Peachtree Industrial Blvd. in Peachtree Corners, a northeastern suburb of Atlanta. Chip Watson and Brent Weitnauer of Avison Young’s Atlanta office represented the seller, Makim Holdings, in the transaction. The buyer, Gwinnett County Schools, plans to convert the facility and surrounding 20 acres of land into a new high school.

January 28, 2016

Multifamily Southeast Virginia

Coldwell Banker Arranges $3.8M Sale of Multifamily Site in Virginia

by John Nelson January 28, 2016

FREDERICKSBURG, VA. — Coldwell Banker Commercial Elite has brokered the $3.8 million sale of an 11-acre multifamily site in Fredericksburg. The parcel is located off Noble Way close to the Wegmans at Celebrate Virginia and the 2.2 million-square-foot Central Park Power Center. The buyer, Hampton at Noble LP, a division of S.L. Nusbaum Realty Co., plans to develop a 128-unit luxury apartment community at the site. The property, known as Valor, will feature one-, two- and three-bedroom units with granite countertops and other high-end finishes. Community amenities will include a clubhouse, resort-style swimming pool, fitness center and outdoor grilling area. Hampton at Noble plans to deliver the clubhouse in the fourth quarter and deliver Valor’s first units in the first quarter of 2017. Brian Cunningham of Coldwell Banker Commercial Elite brokered the transaction.

January 28, 2016

Georgia Retail Southeast

The Boulder Group Brokers $3.6M Sale of CVS/pharmacy in Metro Atlanta

by John Nelson January 28, 2016

DECATUR, GA. — The Boulder Group has arranged the $3.6 million sale of a 10,125-square-foot CVS/pharmacy located at 4037 Glenwood Road in Decatur, a suburb of Atlanta. Originally built in 1999, the asset has 21 years remaining on a recently extended lease, which features five five-year renewal option periods with 5 percent rental escalations in each period. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a real estate institution based in Atlanta’s East Cobb district, in the transaction. The buyer was a high net worth family trust.

January 28, 2016

Florida Multifamily Southeast

CBRE Brokers $74.7M Sale of Apartment Community in Metro Orlando

by John Nelson January 27, 2016

APOPKA, FLA. — CBRE has arranged the $74.7 million sale of Barrington at Mirror Lake in Apopka, a city near Orlando in Orange County. The 740-unit gated community is located at 700 Post Lake Place. Cortland Partners purchased the property from TIAA CREF. Completed in 1988, the apartment community features a resident activity center, business center, clubhouse, two pools, a lakeside boardwalk, fitness center, playground, sports courts and sand volleyball. The property was 94 percent occupied at the time of sale. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented TIAA CREF in the transaction.

January 27, 2016

Multifamily North Carolina Southeast

Pollack Shores to Build Two Upscale Apartment Communities in Raleigh

by John Nelson January 27, 2016

RALEIGH, N.C. — Pollack Shores Real Estate Group plans to build two upscale multifamily developments in Raleigh. The projects include the 330-unit Dakota on Nowell Road and a 314-unit property located on the corner of Davis Drive and Hopson Road in Research Triangle Park. Community amenities at The Dakota will include a resort-style pool, courtyard with a bocce ball court, fitness center and a dog park. Community amenities at the Davis Drive property will feature a second-floor fitness center with yoga and spinning rooms, a clubroom with a kitchen and café, resort-style pool, courtyard and a community gaming and TV lounge. Pollack Shores is set to open the two properties in early 2017. Matrix Residential, the residential management division of Pollack Shores, will manage the two projects.

January 27, 2016

Kentucky Southeast Student Housing

Doster Construction Completes $45M Student Housing Complex Near University of Louisville

by John Nelson January 27, 2016

LOUISVILLE, KY. — Doster Construction has completed the $45.8 million construction of the 758-bed Clubhouse Student Apartments in Louisville adjacent to the University of Louisville campus. The project consists of three five-story wood frame buildings. The new complex has more than 400,000 square feet of living space. Amenities include two courtyards, a swimming pool, club room, fitness area, theater, computer/study room and a hammock garden. The project also includes a five-and-a-half level parking garage that accommodates more than 625 parking spaces. Buck Development Louisville LLC is the project’s developer.

January 27, 2016

Whitestone Shopping Center Alabaster Publix

Alabama Retail Southeast

Marcus & Millichap Brokers $12.7M Sale of Publix-Anchored Shopping Center in Alabama

by John Nelson January 27, 2016

ALABASTER, ALA. — Marcus & Millichap has brokered the $12.7 million sale of Whitestone Shopping Center, a 70,065-square-foot, Publix-anchored shopping center located at 9200 Highway 119 in Alabaster. Built in 2004, the shopping center was 97 percent leased at the time of sale to tenants such as ABC Liquor, Premier Cosmetic and Family Dentistry, Alabaster Eye Care, Jackson Hewitt, Subway and Palm Beach Tan. Also included in the sale was a 9,260-square-foot outparcel currently leased to Buddy’s Home Furnishings. The buyer, Publix Super Markets Inc., was represented internally. Andrew Chason and Brett Chetek of Marcus & Millichap’s St. Louis office represented the seller, a limited liability company based in Montgomery, Ala., in the transaction. Eddie Greenhalgh of Marcus & Millichap’s Mobile office is the firm’s broker of record in Alabama.

January 27, 2016

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