JOHNS CREEK, GA. — Ebix Inc., a software and e-commerce services provider to the insurance and healthcare industries, has purchased a 100,000-square-foot, Class A office building in Johns Creek Technology Park. The LEED Gold-certified property will serve as Ebix Inc.’s global headquarters after the company begins operations at the facility in 2015. Along with the property, Ebix purchased 11.6 acres of land. CBRE represented the seller, Atlanta-based TPA Group, the developer of Johns Creek Technology Park, in the transaction. Cresa represented Ebix.
Southeast
HAMPTON AND NEWPORT NEWS, VA. — Gingko Residential has acquired a three-property multifamily portfolio in the Hampton Roads region of southern Virginia. The three Class A, garden-style communities total 641 units. The properties include Bridgewater on the Lake in Hampton, Lake Ridge in Hampton and The Reserves at Arboretum in Newport News. Gingko Residential plans to combine operations at Bridgewater on the Lake and Lake Ridge to maximize efficiency.
GREENSBORO AND BURLINGTON, N.C. — Multi Housing Advisors (MHA) has brokered the sale of two multifamily assets in North Carolina totaling $19.8 million. MHA arranged the $11.4 million sale of the 299-unit Brannon Park in Greensboro and the $8.4 million sale of The Brittany, a 214-unit community in Burlington. San Diego-based Pacifica Cos. purchased Brannon Park from VTT Management, a private investment firm based in Boston. Blue Valley Apartments Inc., an affiliate of Ocwen Financial, sold The Brittany to Harvest Investments, a Connecticut-based investment partnership. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in both transactions.
PENSACOLA, FLA. — KeyBank Real Estate Capital has secured a $15.5 million loan to refinance Park Place Promenade, a 172,086-square-foot retail center in Pensacola. The total collateral for the property is 83,902 square feet. Park Place Promenade was constructed in 2003-2004 and is comprised of five in-line buildings. The property has averaged above 91 percent occupancy since 2008. The unnamed borrower used the loan to pay off an existing CMBS loan that KeyBank originated in 2004.
TAMPA, FLA. — The U.S. Department of Veterans Affairs (VA) and Duke Realty have opened the James A. Haley Veterans’ Hospital Primary Care Annex, a 106,000-square-foot VA clinic in Tampa. Duke Realty developed the two-story property at 13515 Lake Terrace Lane in the Hidden River Corporate Park at Interstate 75 and Fletcher Avenue. The property features a women’s center, radiology, mental health services and dental services. The VA leases the facility from Duke Realty. The facility was designed by Minneapolis-based Hammel, Green and Abrahamson.
PINEHURST, N.C. — Argus Development Group LLC, a Charlotte-based developer, has broken ground on PineCroft, a 98,220-square-foot shopping center located at the intersection of U.S. Highway 211 and Main Street in Pinehurst. PineCroft will be anchored by a 76,000-square-foot Harris Teeter and includes 22,200 square feet of specialty shops along with four outparcels. The center is scheduled for completion in fall 2015. The design team includes project architect One on One Design, project engineer BBM Associates and general contractor Montgomery Development. Stanford Garnett of Argus Development Group will handle the leasing for PineCroft.
GREENVILLE, N.C. —The Colliers International Student Housing Group has closed the sale of The Landing Apartments in Greenville for $33.5 million. According to Colliers, this sale signifies the demand for value-add student housing communities with opportunities for buyers to make improvements and renovations. The 319,296-square-foot complex is located near East Carolina University (ECU) and Pitt Community College. With 288 units and 888 beds, The Landing is a gated community with access to the ECU bus system for transportation to campus. An undisclosed private equity fund purchased the complex. The seller was Corridor Greenville LLC. Travis Prince, Dorothy Jackman and Sean Baird with the Colliers International Student Housing Group, along with Steven Peden, senior vice president with Colliers International | Raleigh-Durham represented the buyer and seller in the transaction.
ALPHARETTA, GA. — North American Properties (NAP) has announced three new retailers for Phase II of Avalon, a $600 million mixed-use development in Alpharetta. NAP recently secured commitments from Lily Pulitzer, Brooks Brothers and Peek Boutique, which will be joined by 12 more retailers and restaurants in Phase II. The second phase of Avalon will feature 90,000 square feet of upscale retail and restaurants, a 250,000-square-foot Class A office building above retail space, 276 luxury rental homes above retail space, a freestanding 300,000-square-foot office building and a 325-room hotel and conference center. Phase I, which is 97 percent leased, will open to the public on Oct. 30.
ORLANDO, FLA. — Walker & Dunlop Inc. has provided $33.4 million in acquisition financing for Arden Villas, a 336-unit apartment complex in Orlando. Stephen Farnsworth of Walker & Dunlop’s New Orleans office led the team that structured the financing for repeat sponsor Pollack Shores and its joint venture equity partner, DOME Equities. The loan features a 10-year fixed-rate term with four years interest only at 80 percent LTV under Freddie Mac’s Capital Markets Execution (CME) program. The interest rate was locked when the 10-year U.S. Treasury was at a then 12-month low of 2.5 percent, according to Walker & Dunlop.
ATLANTA — Atlanta-based tvsdesign has completed the design of the new College Football Hall of Fame, located on the Georgia World Congress Center campus at 250 Marietta St. in downtown Atlanta. The 94,256-square-foot, $68.5 million facility will open to the general public on Aug. 23. The property, which is expected to draw 500,000 visitors annually, serves to honor college football’s greatest players and coaches. Atlanta Hall Management is the not-for-profit organization established to build and operate the facility. The company chose tvsdesign to design the Hall of Fame as well as its headquarter offices. The property will feature multiple galleries that will include interactive exhibits with a 52-foot touchscreen wall and a system that allows fans to interact with videos and images specific to their favorite college football teams. The property also includes a 45-yard turf field, street-level retail and restaurant space, a 55-foot by 29-foot entry wall and a Hall of Fame shrine on the third floor.