Southeast

Kensington Park Maryland Seniors Housing

Prudential Mortgage Capital Provides $41M to Refinance Seniors Housing Facility in Maryland

by John Nelson February 27, 2015

KENSINGTON, MD. — Prudential Mortgage Capital Co., the commercial mortgage lending business of Prudential Financial Inc. (NYSE: PRU), has provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a Class A independent, assisted and memory care community located in Kensington. Tom Goodsite and Trace Wilson of Prudential Mortgage Capital were the leads on the transaction. The loan was originated through Freddie Mac’s Senior Housing program. The property consists of 61 independent living units, 52 assisted living units and 51 memory care units and is situated on more than eight acres, just north of the I- 495 Beltway in Montgomery County. Kensington Park is managed by an affiliate of its owner, Fountain Square Properties.

February 27, 2015

Office South Carolina Southeast

tvsdesign Celebrates Groundbreaking of LPL Financial’s 450,000 SF Regional Headquarters

by John Nelson February 27, 2015

FORT MILL, S.C. — Atlanta-based tvsdesign has announced the groundbreaking of LPL Financial’s new regional headquarters in Fort Mill, a suburb of Charlotte. The architecture firm was the architect and interior designer of record for the 450,000-square-foot campus that will be located on 27.9 acres in Kingsley, a master-planned development. The new campus will house roughly 1,000 LPL Financial employees and will have elevators and stair cores separated from office areas to maximize interior space and natural daylight. Other sustainable features include reclaimed interior woodwork sourced from white oak trees on the grounds, the use of local and recycled materials, electric vehicle charging stations, tree preservation, bicycle storage and net-zero water efficiency techniques. The property’s on-site amenities will include outdoor meeting areas, a restaurant, fitness center and health clinic. The campus is slated for a late fall 2016 completion.

February 27, 2015

Florida Industrial Southeast

Monmouth Acquires FedEx-Leased Industrial Property in Jacksonville for $30.6M

by John Nelson February 27, 2015

JACKSONVILLE, FLA. — Monmouth Real Estate Investment Corp., a public equity industrial REIT, has acquired a new 297,579-square-foot industrial building located at 13509 Waterworks St. in Jacksonville for $30.6 million. The property is net-leased to FedEx Ground Package System Inc. for 15 years. The distribution center is located on a 42.2-acre site near the Port of Jacksonville, as well as I-95 and I-10. The seller was undisclosed.

February 27, 2015

Florida Loans Multifamily Southeast

CBRE Arranges $21.9M Acquisition Loan for Tallahassee Apartment Community

by John Nelson February 27, 2015

TALLAHASSEE, FLA. — CBRE Debt & Structured Finance has originated a $21.9 million acquisition loan for Delaney Park at Southwood, a 248-unit luxury apartment community located at 3550 Esplanade Way in Tallahassee. Completed in 2007 by Epoch Properties, the community’s interiors include 9- to 18-foot ceilings, bay windows, private entryways and surround sound. The property’s amenity package includes a clubhouse, movie theater, garages, car wash, sauna and spa, fitness center, indoor basketball court, business center, library and a swimming pool. Christopher Apone, Charles Foschini and Christian Lee of CBRE arranged the 10-year loan with four years of interest-only payments through Fannie Mae on behalf of the borrower, Miami-based Momentum Real Estate Partners.

February 27, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $6.2M Sale of Retail Property in Miramar

by John Nelson February 27, 2015

MIRAMAR, FLA. — Marcus & Millichap has brokered the $6.2 million sale of Shoppes at Monarch, a 13,466-square-foot retail property located at 12703 Miramar Parkway in Miramar. The property is part of the Monarch Professional Centre mixed-use development that features 64,000 square feet of medical and professional office space. Shoppes at Monarch is fully leased to tenants such as Little Caesars Pizza, Karate America, Nami Sushi and El Trebol. Douglas Mandel and Barry Wolfe of Marcus & Millichap’s Fort Lauderdale office represented the seller, a Coral Gables-based limited liability company, in the transaction. The buyer was a limited liability company based in Miami Beach.

February 27, 2015

Florida Hospitality Loans Southeast Virginia

HFF Arranges $110M Loan for Multi-State Hotel Portfolio

by John Nelson February 26, 2015

ORLANDO, FLA. — HFF has arranged $110 million in mortgage financing for a seven-property, 2,566-room hotel portfolio in Florida, California, Virginia, Ohio and New Mexico. The hotels include the 266-room Sheraton Tampa East in Tampa; the 382-room Sheraton Orlando North in Orlando; the 718-room Radisson Orlando Celebration in Orlando; the 329-room Hilton Concord in Concord, Calif.; the 295-room DoubleTree Williamsburg in Williamsburg, Va.; the 300-room Crowne Plaza Columbus North in Columbus, Ohio; and the 276-room Sheraton Albuquerque Airport in Albuquerque, N.M. Michael Weinberg, Dan Peek, Trey Morsbach and Preston Reid of HFF arranged the five-year, floating-rate laon through CCRE on behalf of the borrower, a joint venture between Varde Partners Inc., Interstate Hotels & Resorts and Waramaug Hospitality Management. Loan proceeds will be used to refinance existing debt on the properties.

February 26, 2015

Florida Loans Retail Southeast

NorthMarq Arranges $13.5M Loan for Retail Center in Tallahassee

by John Nelson February 26, 2015

TALLAHASSEE, FLA. — NorthMarq Capital has arranged $13.5 million in refinancing for University Village, a 152,104-square-foot retail center located at 2020 W. Pensacola St. in Tallahassee. The property’s major tenants include Gold’s Gym and the Post Office. Lee Weaver of NorthMarq Capital’s Tampa office arranged the 10-year loan with a 30-year amortization schedule through an unnamed CMBS lender.

February 26, 2015

Florida Industrial Southeast

NAI Realvest Brokers $3.7M Sale of Three Industrial Facilities in Orlando

by John Nelson February 26, 2015

ORLANDO, FLA. — NAI Realvest has brokered the $3.7 million sale of three industrial facilities totaling 63,000 square feet at the Airport Industrial Center. The assets, which are located at 7452-7466 Narcoossee Road in southeast Orlando, were fully leased at the time of sale. The purchase also included outdoor storage space. Drew Saphos, Christie Alexander, George Livingston, Michael Heidrich and Kristen Kemp of NAI Realvest represented the seller, Boston-based BIEL, REO LLC, in the transaction. The buyer was San Francisco-based IC BP III Holdings XII LLC.

February 26, 2015

Georgia Retail Southeast

Coro Realty Brokers Sale of Retail Center in Metro Atlanta

by John Nelson February 26, 2015

SANDY SPRINGS, GA. — Coro Realty Advisors LLC has brokered the sale of Sandy Springs Crossing, a 133,324-square-foot retail center located at the intersection of Roswell and Abernathy roads in Sandy Springs, a suburb of Atlanta. LA Fitness anchors the center, and other tenants include Rockler Woodworking, Salons by JC, Gwinnett College, Hinton’s Wines, Bride Beautiful and Nori Nori Japanese Restaurant. G&I VII RCG Sandy Springs LLC, an investment fund advised by RCG Ventures, purchased the property for an undisclosed amount. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the unnamed seller in the transaction. RCG Ventures was represented internally by Matt Klump.

February 26, 2015

District of Columbia Multifamily Southeast

Renaissance Centro Delivers Luxury Apartment Community in Metro D.C.

by John Nelson February 25, 2015

RESTON, VA. — Multifamily developer Renaissance Centro has delivered Harrison at Reston Town Center, a 360-unit luxury apartment community located at 1800 Jonathan Way in Reston, 22 miles west of Washington, D.C. According to Renaissance Centro, the community is 20 percent pre-leased. Located across the street from Reston Town Center, the multifamily property features more than 28,000 square feet of amenity space, including an indoor lap pool, on-site Starbucks Coffee, 24-hour fitness center, resident lounge, outdoor pool and sundeck, media room, business center, conference rooms, culinary center, dog park and pet spa. The property also has an underground parking garage and a bus stop for Metro’s Silver Line. All residents will have membership to the Reston Association, which operates 15 swimming pools, 52 tennis courts, 1,350 acres of open space and 55 miles of paved pathways and trails. Community Realty Co. is providing property management services for Harrison at Reston Town Center. According to the property’s website (liveharrisonapts.com), rental rates range from $1,855 to $6,605.

February 25, 2015

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