ORLANDO, FLA. — CBRE has brokered the sale of a 133,075-square-foot office property located at 5900 Lake Ellenor Drive in Orlando Central Park, an office park in south Orlando. Cardinal Point Management acquired the eight-story building from D Group Acquisition Three Inc. for $5.8 million. The purchase also included an adjoining outparcel at 1854 W. Oak Ridge Road. Ronald Rogg and Chip Wooten of CBRE represented the seller in the transaction.
SEBASTIAN, FLA. — Marcus & Millichap has brokered the sale of US 1 Self Storage, a 55,168-square-foot self storage facility located at 9893 N. US Highway in Sebastian. The property features 29 climate-controlled units, 483 non climate-controlled units, two retail spaces and 16 parking spaces. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the undisclosed buyer and seller in the transaction.
ST. PETERSBURG, FLA. — NXT Capital has provided a $20.4 million acquisition loan for Sienna Bay, a Class B apartment community in St. Petersburg. The property is located roughly 14 miles from downtown Tampa and 12 miles from MacDill Air Force Base. Proceeds from the loan will be used to renovate the asset. The apartment community features swimming pools, a tennis court and a fitness center.
ROCK HILL, S.C. — Walker & Dunlop Inc. has structured a $17 million refinance loan for Brookstone Apartments, a 348-unit multifamily community located in Rock Hill, a suburb of Charlotte. Justin Nelson led Walker & Dunlop’s team to arrange the 15-year loan with five years of interest-only payments and a 30-year amortization schedule. Built in 2001, the property’s amenity package includes a clubhouse, 24-hour fitness center, laundry facility, gated access, playground, swimming pool, volleyball court and dog park.
CHARLOTTE, N.C. — Trinity Partners has brokered the $8.5 million sale of Three South Executive Park, a 54,000-square-foot office building located at 6115 Park South Drive in Charlotte’s SouthPark submarket. Chicago-based Origin Capital Partners purchased the property from an unnamed private partnership. The office building was 86 percent leased at the time of sale to tenants such as Signature Healthcare, Carolinas ACG and Wyndham Capital Mortgage. This is Origin Capital’s second acquisition in Charlotte — the company purchased Cambridge Corporate Center in August 2014. Dunn Mileham of Trinity Partners represented the seller in the transaction.
COCONUT CREEK, FLA. — Boca Raton-based Southern Management and Development (SMD) has brokered the $5.8 million sale of Lyons Plaza, an 80,027-square-foot shopping center located at 1301-1509 Lyons Road in Coconut Creek. Built in 1986, the shopping center’s tenant roster includes Goodyear Tire, Humana Medical and Gold Coast Ballroom. Lyons Plaza Coconut Creek I LLC purchased the shopping center from Lyons Plaza Partners Ltd. SMD represented the seller in the transaction.
ATLANTA AND BROOKHAVEN, GA. — Franklin Street Real Estate Services has brokered the sale of two apartment communities in the metro Atlanta area. The buyer, an affiliate of Ardent Acquisitions and an Atlanta-based real estate investment company, purchased Lenox Townhomes in Brookhaven for $4.8 million and Toco Hills Apartments in Atlanta for $2 million. Jake Reid and Ricky Jones of Franklin Street represented the buyer. Both sellers are private investors based in Atlanta. The two communities total 88 units and are both roughly 50 years old.
MIAMI — CBRE’s capital markets debt and structured finance team has arranged a $95 million acquisition loan for a portfolio of five single-tenant office properties totaling 1.6 million square feet in the Southeast. The properties, which are all leased by Wells Fargo, include 3579-3585 Atlanta Ave. in Atlanta; 401 Linden St. in Winston-Salem, N.C.; 809 W. 4½ St. and 801 W. 4 St. in Winston-Salem; 101 Greystone Blvd. in Columbia, S.C.; and 7711 Plantation Road in Roanoke, Va. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Miami office secured the financing on behalf of the borrower, a private family interest in Brazil. Guggenheim Partners provided the 10-year loan with a 30-year amortization schedule at 65 percent loan-to-value.
MEMPHIS, TENN. — DCT Industrial Trust has sold a portfolio of six Class A industrial properties in Memphis totaling 2.3 million square feet for an undisclosed sales price. Built between 1998 and 2001, the six properties were fully leased to 11 tenants at the time of sale. The portfolio comprised Eastpark I at 5300 Hickory Hill Road; Eastpark II at 5405 Hickory Hill Road; Chickasaw A at 5950 Freeport Ave.; Chickasaw H at 6190 Freeport Ave.; Southpoint IV at 4800 Pleasant Hill Road; and Southpoint XIX at 5166 Pleasant Hill Road. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield represented DCT in the transaction. Cushman & Wakefield also arranged acquisition financing on behalf of the buyer, Welsh Property Trust. Mike Ryan, Brian Linnihan and Jeff Walker of Cushman & Wakefield’s equity, debt and structured finance team arranged the financing. Additionally, Shane Soefker and Jacob Biddle of Cushman & Wakefield/Commercial Advisors provided market expertise for the transaction.
CLEARWATER, FLA. — Tampa-based Blue Rock Partners LLC and Denver-based Goff Capital Partners have purchased Cameron Lakes Apartments, a 207-unit apartment community located at 2550 Stag Run Blvd. in Clearwater, for $19.3 million. Grandbridge Real Estate Capital provided acquisition financing on behalf of the buyers. In addition to rebranding the asset as The Park at Gibraltar, Blue Rock and Goff Capital plan to invest $1 million to upgrade the property’s common areas and add a washer and dryer to every unit. John Selby of CBRE brokered the transaction.
