Southeast

Capital One Multifamily Closes Two Multifamily Acquisition Loans Totaling $39.5M

by John Nelson March 5, 2015

COLUMBIA, S.C. AND HIGH POINT, N.C. — Capital One Multifamily Finance has closed a total of $39.5 million in agency loans for the acquisition of two apartment communities in the Carolinas. Chad Thomas Hagwood of Capital One originated both agency loans on behalf of the borrowers, affiliates of EBSCO Income Properties. The loans included a $20.5 million Freddie Mac loan for EBSCO’s acquisition of Polo Village, a 312-unit apartment community in Columbia, and a $19 million Fannie Mae loan for the acquisition of Highbrook Apartments, a 312-unit Class B apartment community in High Point. Watson Bryant of Multi Housing Advisors’ Charlotte office brokered the sale of both communities.

March 5, 2015

Georgia Loans Multifamily Southeast

KeyBank Secures $34.5M Acquisition Loan for Metro Atlanta Apartment Community

by John Nelson March 5, 2015

JOHNS CREEK, GA. — KeyBank Real Estate Capital has secured a $34.5 million acquisition loan for Retreat at Johns Creek, a 352-unit, garden-style apartment community in Johns Creek, a suburb of Atlanta. Formerly known as Camden River, the Class B property was built in 1997. Chris Black of KeyBank’s commercial mortgage group arranged the Fannie Mae loan on behalf of the undisclosed borrower.

March 5, 2015

Georgia Multifamily Southeast

Associated Estates Acquires Class A Apartment Community in Metro Atlanta

by John Nelson March 5, 2015

SANDY SPRINGS, GA. — Associated Estates Realty Corp. has acquired 1160 Hammond, a 345-unit apartment community located in Sandy Springs, a suburb of Atlanta. The property is located within walking distance of the Sandy Springs MARTA station. The newly constructed property is in lease up and is currently 44.6 percent leased with rents averaging $1,550 per month. 1160 Hammond features 16,000 square feet of amenity space and its units feature 10-foot ceilings, kitchen islands, granite countertops, tiled backsplashes, upscale cabinetry and plank-style flooring. Associated Estates (NYSE: AEC) is a REIT based in Richmond Heights, Ohio. The company now owns three apartment communities in the Atlanta area.

March 5, 2015

Loans Maryland Mixed-Use Southeast

Cronheim Mortgage Secures $16.2M Loan for Mixed-Use Property in Maryland

by John Nelson March 5, 2015

ELKTON, MD. — Cronheim Mortgage has secured a $16.2 million loan for a mixed-use property located on East Pulaski Highway in Elkton, a town near the Maryland-Delaware border. The property includes a 78,800-square-foot medical office building converted from a former Walmart, a 5,000-square-foot build-to-suit urgent care center and an Olive Garden pad site. David Turley and Janet Proscia of Cronheim Mortgage structured the 10-year loan with a 30-year amortization schedule on behalf of the borrower. The funding retired existing debt on the property and enabled the owner to recover equity.

March 5, 2015

Industrial Southeast

Colliers International Brokers $12.9M Sale of Industrial Portfolio in Metro Atlanta

by John Nelson March 5, 2015

NORCROSS, GA. — Colliers International has brokered the $12.9 million sale of a six-building industrial portfolio totaling 299,174 square feet in Norcross, an eastern suburb of Atlanta in Gwinnett County. The portfolio, located on Oakbrook Drive, is a mix of warehouse and flex product. Dennis Mitchell and Matt Wirth of Colliers International represented the seller, First Industrial Realty Trust Inc., in the transaction.

March 5, 2015

Mixed-Use Southeast Virginia

Transwestern Brokers $53.5M Sale of Atrium Building in Alexandria

by John Nelson March 4, 2015

ALEXANDRIA, VA. — Transwestern has brokered the $53.5 million sale of the Atrium Building located at 277 S. Washington St. in Alexandria, a Virginia suburb of Washington, D.C. The five-story office building was 90 percent leased at the time of sale. The property features a restaurant and market called Society Fair and a two-level underground parking garage with 232 parking spaces. Joe Friedman and Julian Etches of Transwestern represented the Washington, D.C.-based buyer in the 1031 tax-deferred exchange transaction.

March 4, 2015

Florida Retail Southeast

Davidoff of Geneva to Open 5,000 SF Cigar Store in Tampa

by John Nelson March 4, 2015

TAMPA, FLA. — Davidoff of Geneva USA plans to open a new 5,000-square-foot cigar store in the MetWest International Retail Village in Tampa. The new store, known as “Davidoff of Geneva-Since 1911,” will be the largest Davidoff store in the world and the company’s first licensed flagship store outside of Las Vegas. The company will open the new store in late 2015 in partnership with Jeff and Tanya Borysiewicz, owners of Orlando-based Corona Cigar Co. The new location will be completely humidified and will feature cigar retail space, multiple indoor and outdoor lounges, private lockers and a full bar serving high-end alcoholic beverages.

March 4, 2015

Healthcare North Carolina Southeast

Crosland Southeast, Childress Klein Sign Novant Health to Anchor South Charlotte Development

by John Nelson March 4, 2015

CHARLOTTE, N.C. — Charlotte-based Crosland Southeast and Childress Klein have inked a lease agreement with Novant Health to serve as the medical office anchor of Waverly, a master-planned, mixed-use development that will be located at Providence and Ardrey Kell roads in south Charlotte. Upon its completion in 2016, Waverly will feature a 40,000-square-foot Whole Foods, Novanta Pizzeria Napoletana, Bad Daddy’s Burger Bar, Menchie’s Frozen Yogurt, Modern Salon & Spa, Polished Nail Bar and Quail Dry Cleaners. Gwen Glaeser and Tommy Trimble of CNL Commercial Real Estate represented the developers in the lease transactions. Novant Health will occupy roughly 23,000 square feet of space in Waverly’s first 33,000-square-foot building, which is slated to open this fall. The medical office space will include an urgent care, family healthcare services and physical therapy. Mike Wiles of NAI Southern Real Estate represented Novant in the lease transaction, and the owners were represented internally by James Downs, partner of Crosland Southeast, and Paul DeVine of Childress Klein. Travis Hart of Childress Klein is working on pre-leasing the remaining medical office space.

March 4, 2015

Georgia Mixed-Use Southeast

Cannon Equities Sells Office, Retail Space in Metro Atlanta

by John Nelson March 4, 2015

CUMMING, GA. — Atlanta-based Cannon Equities has sold office and retail space at Vickery Village, a master-planned development located at 5755 S. Vickery St. in Cumming, a suburb of Atlanta. Cannon Equities sold a 57,064-square-foot retail building and a 5,200-square-foot office building in Vickery Village. Fred Victor of Transwestern represented Cannon Equities in the transaction. Evolution Real Estate Partners purchased Vickery Village for an undisclosed amount.

March 4, 2015

612 Hillsborough Chapel Hill North Carolina

Multifamily North Carolina Southeast

Eller Capital Acquires Colonial Arms Apartments in Chapel Hill for $3.6M

by John Nelson March 4, 2015

CHAPEL HILL, N.C. — Eller Capital Partners has acquired Colonial Arms Apartments located at 612 Hillsborough St. in Chapel Hill for $3.6 million. Eller Capital will rebrand the asset as 612 Hillsborough. The apartment community is within walking distance to the University of North Carolina at Chapel Hill campus and downtown Chapel Hill. 612 Hillsborough is Eller Capital’s fourth acquisition in the Chapel Hill area in the past 16 months, with the other three properties being The Apartments at Midtown 501, 86 North Apartments and Timber Hollow Apartments.

March 4, 2015

Newer Posts

Older Posts