Southeast

Village Place Fort Lauderdale Housing Trust Group

Housing Trust Group Completes $15M Seniors Housing Community in Fort Lauderdale

by John Nelson January 28, 2015

FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) has completed the construction of Village Place Apartments, a $15 million, 112-unit senior affordable housing community for ages 55 and up. The mid-rise community is located at 720 N.E. 4th Ave. in downtown Fort Lauderdale, blocks from the Las Olas Boulevard district. The property, which is already 100 percent leased, features units with granite countertops, split-level designs and eco-friendly features such as low-flow plumbing fixtures, low-VOC paint, Energy-Star qualified appliances, Energy-Star windows and energy efficient HVAC systems. HTG and architect Sotolongo Salman Henderson of Miami have designed and constructed Village Place to be designated a green building in line with the National Green Building Standards. The apartment community includes a gated entrance, community center with computers and Wi-Fi access throughout, swimming pool and a fitness room with exercise equipment. Residents will also have access to The Wave Modern Streetcar transit system that is scheduled to open in 2017. Project financing was provided by U.S. Bank in the amount of $38.6 million through its community development subsidiary, including a $13.2 million construction loan; a $3 million permanent financing loan; and $22.4 million of Low-Income Housing Tax Credit (LIHTC) equity from U.S. Bancorp Community …

January 28, 2015

DoubleTree by Hilton Downtown Little Rock hotel

Arkansas Hospitality Southeast

HFF Brokers Sale of DoubleTree by Hilton Hotel in Downtown Little Rock

by John Nelson January 28, 2015

LITTLE ROCK, ARK. — HFF has brokered the sale of the 288-room DoubleTree by Hilton Downtown Little Rock hotel in downtown Little Rock. The 14-story hotel has recently undergone $10 million in capital improvements and features the Plaza Grille and Lounge, a business center, swimming pool, fitness center and 12,000 square feet of meeting space. The hotel, located at 424 W. Markham St., is attached to the Robinson Center Music Hall, which is undergoing a $68.6 million reconstruction. The hotel is located within walking distance to the River Market Entertainment District, the William J. Clinton Presidential Center and Library and Highway 167. Denny Meikleham, John Bourret and Alan Suzuki of HFF represented the seller, a joint venture between Trinity Hotel Investors LLC and BayNorth Capital LLC. An affiliate of New York-based Fifth Avenue Capital LLC and Waterford Hotel Group purchased the hotel for an undisclosed amount.

January 28, 2015

Industrial Maryland Southeast

American Tire Distributors Signs 138,240 SF Industrial Lease in Baltimore County

by John Nelson January 28, 2015

WHITE MARSH, MD. — American Tire Distributors has signed a 138,240-square-foot lease with Chesapeake Real Estate Group LLC for warehouse and distribution space at 11503 Pocomoke Court, a new building under construction in the Baltimore Crossroads @95 business community near White Marsh in Baltimore County. The international tire supplier expects to take occupancy upon completion of the building in fall 2015. Baltimore Crossroads @95 is a 1,000-acre mixed-use business community configured to support more than 6 million square feet of Class A office, R&D/flex, warehouse and industrial and retail space, as well as residential components that include a luxury apartment complex, condominiums, townhomes and single-family homes.

January 28, 2015

Norfolk Consolidated Courts Complex Virginia

Civic Southeast Virginia

Phase I of $121.5M Norfolk Consolidated Courts Complex Opens

by John Nelson January 27, 2015

NORFOLK, VA. — The city of Norfolk has opened the first phase of the Norfolk Consolidated Courts Complex, a 315,000-square-foot complex that combines three courthouses into one. Both phases will cost approximately $121.5 million to develop. The eight-story Phase I will consolidate the Circuit and General District courts into a single facility. Phase II, which is slated for an early 2017 completion, will add the Juvenile and Domestic Relations courts. The design team, including architect Fentress Architects and general contractors Archer Western and Heery International, is constructing the complex to achieve LEED Silver certification.

January 27, 2015

Art Avenue Apartment Homes Orlando Florida

Florida Multifamily Southeast

CBRE Brokers $47.1M Sale of New Apartment Community in Orlando

by John Nelson January 27, 2015

ORLANDO, FLA. — CBRE has brokered the $47.1 million sale of Art Avenue Apartment Homes, a new 300-unit luxury apartment community located at 10201 Lee Vista Blvd. in Orlando. An undisclosed entity purchased the property from the Rohdie Group, a residential real estate management firm. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction. Completed in 2014, the community features a large clubhouse, computer lounge, TV lounge, coffee bar, fitness center, children’s art room, outdoor fire pit and resort-style pool.

January 27, 2015

Riverside Distribution Center Aaron's Baltimore

Industrial Maryland Southeast

DTZ Represents Aaron’s in 100,000 SF Warehouse Lease Renewal in Maryland

by John Nelson January 27, 2015

BELCAMP, MD. — DTZ has arranged a 100,000-square-foot lease renewal of warehouse space at Riverside Distribution Center in Belcamp, roughly 26 miles northeast of Baltimore along I-95. Exeter Property Group owns the 599,000-square-foot Riverside Distribution Center. The tenant, Aaron’s, a furniture and home appliances retailer, will use the warehouse for distribution and fulfillment purposes for the Mid-Atlantic region. Michael Walsh, Kirk Diamond and Erin Smith of DTZ represented Aaron’s in the lease transaction.

January 27, 2015

Florida Loans Multifamily Southeast

Oak Grove Capital Arranges $26.1M in Refinancing for San Marco Villas I & II

by John Nelson January 27, 2015

LAKE PARK, FLA. — Oak Grove Capital has arranged two refinance loans totaling $26.1 million for San Marco Villas I and II, two affordable housing communities. The two apartment communities in Lake Park span 400 units. Tim Leonhard of Oak Grove Capital arranged the two loans through Freddie Mac.

January 27, 2015

Hospitality Louisiana Southeast

HREC Brokers Sale of Hampton Inn & Suites Portfolio in New Orleans

by John Nelson January 27, 2015

NEW ORLEANS — HREC Investment Advisors has brokered the portfolio sale of three Hampton Inn & Suites hotels and one parking garage in downtown New Orleans. The hotel portfolio includes the 288-unit Hampton Inn & Suites – Convention Center; the 210-unit Hampton Inn & Suites – Downtown/French Quarter Area; the 100-unit Hampton Inn – Garden District/St. Charles Avenue; and the 529-space EZ Park Garage. Paul Sexton, Geoff Davis, Scott Stephens and Mike Cahill of HREC, along with Hayden Wren of New Orleans-based Corporate Realty Inc., represented the seller in the transaction. Highpointe Hotel Corp. will continue to operate the three hotels. The buyer was an entity related to an unnamed major international equity fund.

January 27, 2015

3800 N.E. Miami Court Poltrona Frau Group Miami

Florida Retail Southeast

RKF Brokers $26M Sale of Retail Property in Miami’s Design District

by John Nelson January 26, 2015

MIAMI — RKF has brokered the sale of a 22,248-square-foot retail property located at 3800 N.E. Miami Court in Miami’s Design District. Poltrona Frau Group Miami, a luxury furniture retailer, is the sole tenant of the newly constructed, two-story property. Benjamin Mandell, John Ellis and Marty Arrivo of RKF represented the buyer, Chicago-based L3 Capital LLC, in the transaction. The seller, Tirrenia Developments LLC, was represented in-house.

January 26, 2015

Affordable Housing Loans Multifamily Southeast Virginia

Oak Grove Capital Arranges $19.5M Refinance for Affordable Housing Properties in Virginia

by John Nelson January 26, 2015

COLONIAL HEIGHTS, VA. — Oak Grove Capital has arranged the refinancing of two affordable housing properties in Colonial Heights totaling $19.5 million. The two assets, Colonial Ridge and Bermuda Run Apartments, total 292 units. Tim Leonhard of Oak Grove Capital arranged the fixed-rate, preservation loan through Freddie Mac on behalf of the unnamed borrower.

January 26, 2015

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