Southeast

1600 Commons Trader Joe's Nordstrom Rack Fort Lauderdale

Halvorsen Holdings Breaks Ground on Trader Joe’s-Anchored Center in Fort Lauderdale

by John Nelson May 1, 2015

FORT LAUDERDALE, FLA. — Halvorsen Holdings has begun construction on 1600 Commons, a shopping center anchored by Trader Joe’s and Nordstrom Rack. The in-fill development will be the first Fort Lauderdale stores for the two retailers. The 80,000-square-foot center is located along Federal Highway between Oakland Park and Sunrise Boulevard. Halvorsen Holdings purchased the existing Toys “R” Us and Office Depot on the site and begun demolition to make way for the 12,500-square-foot Trader Joe’s and a new prototype for a 15,500-square-foot Office Depot. The two-story Nordstrom Rack will span 36,000 square feet. Other committed tenants include Mattress Firm, T-Mobile, Hair Cuttery and Anthony’s Coal Fired Pizza.

May 1, 2015

Florida Multifamily Southeast

Colliers Arranges $30M Sale of Central Florida Apartment Community Via Auction.com

by John Nelson May 1, 2015

ORANGE CITY, FLA. — Colliers International has arranged the $30 million sale of Grandeville on Saxon, a Class A, 316-unit apartment community located at 741 Saxon Blvd. in Orange City. The buyer, Northland Grandeville LLC, doing business as Northland Investment Corp., purchased the asset through the online auction forum Auction.com. The community was 96 percent occupied at the time of sale. According to Colliers, more than 580 prospective bidders reviewed the sales materials online before the sale. George Pjevach and John Stone of Colliers International represented the seller, WBCMT 2006-C24 Saxon Boulevard LLC. LNR is the special servicer on behalf of the seller, and John Mitchell of LNR oversaw the liquidation process. Grandeville on Saxon is Northland Investment’s 21st property in Florida, bringing its nationwide portfolio to more than 21,000 apartment residences.

May 1, 2015

Florida Multifamily Seniors Housing Southeast

DTZ Arranges $20M Sale of Arbor Terrace Seniors Housing Property in Tampa

by John Nelson May 1, 2015

TAMPA, Fla. — DTZ has arranged the $20 million sale of Arbor Terrace at Citrus Park in Tampa on behalf of Citrus Park ALF LLC. The project was pre-sold to Capitol Seniors Housing prior to breaking ground and the transaction closed upon certificate of occupancy. The property is built on 6.3 acres and comprises 52 assisted living, 14 transitional memory care and 26 memory care units. Arbor Terrace was designed by Tampa architectural firm Chancey Design and developed by a joint venture between Tampa architect/developer Walt Chancey and Rookis Development Co. based in Santa Rosa Beach, Fla. The DTZ team of Allen McMurtry, Megan Fetter and David Kliewer closed the transaction.

May 1, 2015

Healthcare Loans Mixed-Use Southeast Tennessee

HFF Arranges Refinancing for Mixed-Use Medical Center in Nashville

by John Nelson May 1, 2015

NASHVILLE, TENN. — HFF has arranged refinancing for One Hundred Oaks, an 891,470-square-foot mixed-use retail and medical office center in south Nashville. Redeveloped in 2010, the property is located off I-65 within five miles of Vanderbilt Hospital and Vanderbilt University. Vanderbilt University Medical Center fully occupies One Hundred Oaks’ medical office space, which comprises more than 50 percent of the property’s overall square footage. The retail portion is 99 percent leased to Regal Cinemas, Burlington Coat Factory, Ross Dress for Less, T.J. Maxx, PetSmart, Michael’s, Electronic Express, Guitar Center, Ulta Beauty, Kirkland’s Home, Sketchers, Logan’s Roadhouse, Panera Bread and Panda Express. John Rose, Campbell Roche and Gay Thomas of HFF arranged the fixed-rate loan through Northwestern Mutual on behalf of the borrower, LaSalle Investment Management.

May 1, 2015

Loans Multifamily Southeast Virginia

Walker & Dunlop Arranges $401.9M in Acquisition Financing for Multifamily Portfolio in Virginia

by John Nelson April 30, 2015

BETHESDA, MD. — Walker & Dunlop Inc. has closed a portfolio of acquisition loans totaling $401.9 million for three multifamily properties in northern Virginia’s Fairfax County. The assets total 2,175 units and include the Avant in Annandale, Amberleigh Apartments in Fairfax and The Edgemoore in Alexandria. The apartments include one-, two-, and three-bedroom apartments with community amenities including playgrounds, swimming pools, business centers, tennis courts, nature trails and dog parks. Brendan Coleman and David Redmond of Walker & Dunlop led the team that closed the loans on behalf of the borrowers, Redbrick LMD and David Werner Real Estate Investments. The loans were brokered to Walker & Dunlop through Meridian Capital Group and Eastdil Secured.

April 30, 2015

Whole Foods St. Matthews Louisville Bluegrass Manor Shopping Center

Kentucky Retail Southeast

Faris Lee Investments Brokers $46.1M Sale of Whole Foods-Anchored Center in Metro Louisville

by John Nelson April 30, 2015

ST. MATTHEWS, KY. — Faris Lee Investments has brokered the $46.1 million sale of Bluegrass Manor Shopping Center, a Whole Foods-anchored shopping center in St. Matthews, a suburb of Louisville. The property’s retail tenant roster includes Toys “R” Us and LA Fitness. The Whole Foods Market is the only Whole Foods in the Louisville area. Rick Chichester and Donald MacLellan of Faris Lee represented the seller, P&P, and the buyer, The Hocker Group, in the transaction. The property sold at a 6.65 percent cap rate.

April 30, 2015

Odenton Meade Center All American Steakhouse & Sports Theatre

Maryland Mixed-Use Southeast

Baybridge Properties Breaks Ground on Mixed-Use Project in Metro Baltimore

by John Nelson April 30, 2015

ODENTON, MD. — Baybridge Properties has kicked off construction on Phase I of Meade Center, a mixed-use project in Odenton, roughly 20 miles south of Baltimore. Phase I comprises the All American Steakhouse & Sports Theatre, which is slated for a fall 2015 opening. Phase II includes a 29,800-square-foot center with roughly 14,300 square feet of ground-level retail space and 15,500 square feet of second-floor office space. Phase II is expected to be completed by the second quarter of 2016. Klein Enterprises/Metropolitan Management LLC will lease the asset. The Meade Center location in Odenton will be All American Steakhouse & Sports Theatre’s eighth location, according to owners George Jones and Brock Anderson.

April 30, 2015

North Carolina Retail Southeast

EDENS Acquires Grocery-Anchored Shopping Center in Charlotte

by John Nelson April 30, 2015

CHARLOTTE, N.C. — EDENS, a shopping center owner, developer and operator based in Columbia, S.C., has purchased Myers Park Center in Charlotte for an undisclosed price. The 75,075-square-foot shopping center is anchored by a two-story Harris Teeter and is located in Charlotte’s affluent Myers Park neighborhood. EDENS owns other shopping centers in Charlotte, including Park Road Shopping Center, Atherton Mill and Kenilworth Commons.

April 30, 2015

Florida Hospitality Southeast

Aztec Group Brokers $8.6M Sale of Historic Miami River Inn in Miami

by John Nelson April 30, 2015

MIAMI — Aztec Group has brokered the $8.6 million sale of Miami River Inn, Miami’s longest operating hotel. Vagabond Group, led by developer Avra Jain, purchased the 58-room hotel, which is located along the Miami River at 118 S.W. South River Drive. Vagabond Group plans to renovate the hotel, which was built in 1906. Jason Katz of Aztec Group represented Vagabond in the transaction. Alfonso Jaramillo of Fortune International Realty represented the seller, Habitat Group.

April 30, 2015

Atlanta Braves SunTrust Park Omni Atlanta Northwest Hotel

Georgia Hospitality Mixed-Use Southeast

New Omni Hotel Will Anchor Mixed-Use Campus Adjacent to Atlanta Braves’ SunTrust Park

by John Nelson April 29, 2015

ATLANTA — The Atlanta Braves and Omni Hotels & Resorts have partnered to develop a new Omni hotel in the mixed-use development adjacent to SunTrust Park in Cobb County. Known as the Omni Atlanta Northwest Hotel, the property will span 16 floors and feature 260 guest rooms. The hotel will comprise 12,500 square feet of meeting space, a signature restaurant and an elevated pool deck and bar overlooking the plaza and ballpark. Groundbreaking for the Omni Atlanta Northwest Hotel is expected to occur later this year. The Dallas-based hospitality company has 60 hotels and resorts in the top markets across the U.S., including the Omni Atlanta Hotel at CNN Center. SunTrust Park is set to open by April 2017 and will be the new home to the Atlanta Braves.

April 29, 2015

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