Southeast

Piccadilly Apartments Goodlettsville Tennessee

Financial Federal Bank Arranges Two Multifamily Refinance Loans Totaling $20.7M

by John Nelson January 9, 2015

GOODLETTSVILLE, TENN. — Memphis-based Financial Federal Bank has arranged two refinance loans for apartment communities in Goodlettsville, roughly 14 miles north of Nashville. Steve Curnutte of Financial Federal Bank’s Nashville office arranged the $13.4 million refinance of the 434-unit Piccadilly Apartments and the $7.3 million refinance of the 200-unit Nottingham Apartments. Both apartment communities were more than 95 percent occupied at the time of refinancing. Curnutte arranged the two 10-year, fixed-rate loans through Freddie Mac. The loans feature interest rates below 4 percent, 30-year amortization schedules and five years of interest-only payments.

January 9, 2015

Florida Multifamily Southeast

Franklin Street Brokers $10.4M Sale of Orlando Apartment Community

by John Nelson January 9, 2015

ORLANDO, FLA. — Franklin Street Real Estate Services has brokered the $10.4 million sale of Waterstone Apartments, a 208-unit multifamily community located at 5224 Long Road in Orlando. Constructed in 1991, the wood-frame complex is comprised of two-, three- and four-bedroom units. Darron Kattan, Robert Goldfinger, Kevin Kelleher and Zachary Ames of Franklin Street represented both the seller, a private company based in California, and the buyer, FVP KP Waterstone LLC. The buyer used agency financing to fund the acquisition, according to Franklin Street.

January 9, 2015

Retail Southeast Tennessee

The Boulder Group Brokers $4.2M Sale of Bank of Bartlett in Germantown

by John Nelson January 9, 2015

GERMANTOWN, TENN. — The Boulder Group has brokered the $4.2 million sale of a Bank of Bartlett branch at 1870 Kirby Parkway in Germantown, roughly 22 miles southeast of Memphis. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Southeast-based partnership, in the transaction. The buyer was an institutional investor based in Tennessee. The bank has five years remaining on its lease.

January 9, 2015

Santa Barbara Arms Pompano Beach Florida

Florida Multifamily Southeast

Marcus & Millichap Brokers $2.9M Sale of Apartment Community in Pompano Beach

by John Nelson January 9, 2015

POMPANO BEACH, FLA. — Marcus & Millichap has brokered the $2.9 million sale of Santa Barbara Arms, a 22-unit apartment community located at 811 and 831 S.E. 22nd Ave. in Pompano Beach. The apartment property sits on one of Lake Santa Barbara’s finger canals. Brandon Rex and Evan Kristol of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor based in Pompano Beach. Felipe Echarte, also with Marcus & Millichap’s Fort Lauderdale office, represented the buyer, a limited liability company based in Avon, Conn.

January 9, 2015

RiverGate Shopping Center Charlotte Childress Klein

North Carolina Retail Southeast

CBRE Global Investors, Childress Klein Sell Shopping Center in Charlotte

by John Nelson January 8, 2015

CHARLOTTE, N.C. — A joint venture between Childress Klein Properties and a pension fund advised by CBRE Global Investors has sold RiverGate Shopping Center in Charlotte. The 236,579-square-foot property is located in southwest Charlotte’s Steele Creek submarket adjacent to a Super Target and Home Depot. Childress Klein constructed RiverGate in 2006-2007. The shopping center was 98 percent leased at the time of sale to tenants such as Marshalls, PetSmart, Old Navy, Best Buy, Office Max, Starbucks Coffee, Bath & Body Works, Rack Room, Dress Barn, Verizon Wireless, Mattress Firm and Massage Envy. Mike Burkard and Steve Shields of CBRE represented the joint venture in the transaction. The undisclosed buyer has retained Childress Klein to manage the property.

January 8, 2015

Multifamily North Carolina Southeast

Berkshire Buys Two Apartment Properties in Raleigh, Durham from Crescent Communities

by John Nelson January 8, 2015

RALEIGH AND DURHAM, N.C. — Berkshire Group has acquired two Class A multifamily communities from Crescent Communities in the Raleigh-Durham area: Crescent Cameron Village in Raleigh and Crescent Ninth Street in Durham. Berkshire purchased the assets for an undisclosed price. Berkshire Communities, the property management division of Berkshire Group, will manage both properties. Cameron Village is a 282-unit community completed in 2014 that features a clubroom, business center, fitness center, pool and outdoor common spaces with a grilling area and fire pit. The 303-unit Ninth Street was also completed in 2014 and includes a fitness center, pool, business center with conference rooms, and outdoor common spaces with grilling areas and a dog park.

January 8, 2015

Walmart Neighborhood Market Miami Gardens

Florida Retail Southeast

Walmart Neighborhood Market Opens New Store in Miami Gardens

by John Nelson January 8, 2015

MIAMI GARDENS, FLA. — Wal-Mart Stores Inc. has opened a new Walmart Neighborhood Market located at 3791 N.W. 167th St. in Miami Gardens. The new store is expected to employ roughly 95 people. The 41,000-square-foot location will feature groceries, health and beauty aids, a pharmacy, pet products and cleaning supplies.

January 8, 2015

Hospitality North Carolina Southeast

Hospitality Ventures Management Group Buys Hotel in Greensboro

by John Nelson January 8, 2015

GREENSBORO, N.C. — Atlanta-based Hospitality Ventures Management Group (HVMG) has acquired the 299-room Greensboro-High Point Airport Marriott in Greensboro for an undisclosed amount. The company will manage the hotel, bringing its management portfolio to 38 hotels in 15 states. The hotel is located at One Marriott Drive, adjacent to the Piedmont Triad International Airport. HVMG will implement an $11 million renovation to update the hotel’s meeting space and guest rooms. The hotel underwent a $6 million renovation in 2012.

January 8, 2015

Dollar General Jackson Namdar Realty Group

Mississippi Retail Southeast

Namdar Realty Group Buys Dollar General in Mississippi, Kroger in Kentucky

by John Nelson January 8, 2015

JACKSON, MISS. AND CAMPBELLSVILLE, KY. — Namdar Realty Group, a private real estate investment and management firm based in New York, has recently purchased a freestanding Dollar General store in Jackson and a freestanding Kroger in Campbellsville. CVS Caremark has subleased the 11,000-square-foot store in Jackson to Dollar General and the discount retailer has two years remaining on its lease agreement. Winston Rego sold the asset to Namdar Realty Group for an undisclosed price. Stan Johnson Co. brokered the transaction. The 34,000-square-foot Kroger is located at 1505 E. Broadway in Campbellsville and has three years remaining on its lease. The seller, a private group, sold the grocery store to Namdar Realty Group for an undisclosed price. Al Isaac of NAI Isaac brokered the transaction. Joel Gorjian of Namdar Realty Group led the company’s acquisition team in both deals.

January 8, 2015

Industrial North Carolina Southeast

Goria, Richardson Properties to Break Ground on 300,000 SF Spec Industrial Project

by John Nelson January 7, 2015

GREENSBORO, N.C. — McConnell Center Two LLC, a joint venture between Goria Properties and Richardson Properties, will soon begin construction on a new 300,000-square-foot speculative industrial building in McConnell Center Industrial Park. This will be the third speculative industrial property in the park, which is located off I-40 near McConnell Road in Greensboro. The joint venture has selected Triad Commercial Properties to lease the asset. General contractor Windsor Commercial is expected to complete shell construction in July 2015.

January 7, 2015

Newer Posts

Older Posts

Upcoming Events

Aug
06