Southeast

Continental, Leo Brown Break Ground on $16M Seniors Housing Facility in Lexington

by John Nelson July 16, 2015

LEXINGTON, KY. — Columbus, Ohio-based Continental Real Estate Cos. and Carmel, Ind.-based Leo Brown Group have begun construction on a new senior living community in Lexington called Highgrove at Tates Creek. The community will consist of 90 assisted living units, 30 of which will be dedicated to memory care. Development costs for the community are approximately $16 million. Leo Brown Group’s management company affiliate, Traditions Management, will run the day-to-day operations once construction is complete. Traditions manages a portfolio of communities in Kentucky, Indiana and Ohio totaling 780 units. The partnership expects Highgrove at Tates Creek to accept its first residents in spring of 2016. This is the second community developed by Continental and Leo Brown Group — in 2014 the partnership broke ground on a 94-unit site in Granville, Ohio, which will open later this summer.

July 16, 2015

Georgia Mixed-Use Southeast

The Related Group to Build Apartment Tower Featuring Whole Foods in Midtown Atlanta

by John Nelson July 15, 2015

ATLANTA — Miami-based The Related Group has unveiled plans for its new high-rise apartment tower in Midtown Atlanta. The 38-story tower located at the corner of 14th and West Peachtree streets will feature 390 luxury apartment residences and a 70,000-square-foot Whole Foods Market store. The property will also feature other retailers on the ground level. The tower’s amenity package will include a rooftop clubroom, demonstration kitchen and a swimming pool on the 10th floor. The project team includes architect Smallwood, Reynolds, Stewart, Stewart; interior designer Michael Habachy; and architect for Whole Foods Phillips Partnership.

July 15, 2015

Steeplechase Deep River Pointe Park Forest

Loans Multifamily North Carolina Southeast

HFF Arranges $49.8M Loan for Apartment Portfolio in North Carolina

by John Nelson July 15, 2015

GREENSBORO AND HIGH POINTE, N.C. — HFF has secured financing totaling $49.8 million for a three-property apartment portfolio spanning 811 units in Greensboro and High Pointe. The properties include Steeplechase at Adam’s Farm located at 1338 Adams Farm Parkway in Greensboro; Park Forest located at 3214 Brassfield Road in Greensboro; and Deep River Pointe located at 3971 River Pointe Place in High Pointe. Each apartment community features swimming pools with sundecks, 24-hour fitness centers, business centers, tennis courts and walking trails. The portfolio’s average occupancy is 96 percent. Thomas Didio and Luke Vanderpoel of HFF arranged the 10-year, fixed-rate Freddie Mac loans on behalf of the borrower, Hudson Capital Properties.

July 15, 2015

Georgia Multifamily Southeast

The Shoptaw Group Sells Apartment Community in Metro Atlanta for $17.8M

by John Nelson July 15, 2015

STOCKBRIDGE, GA. — Atlanta-based The Shoptaw Group has sold Southwinds Stockbridge Apartments, a 240-unit multifamily community located at 50 Evergreen Way in Stockbridge, roughly 20 miles south of Atlanta. PointOne Holdings LLC purchased the property for $17.8 million. Built in 1993 and renovated in 2007, Southwinds Stockbridge features a gated entrance, pool with sundeck, club room, conference center with coffee bar, lighted tennis courts and a fitness center. The property’s units have crown molding, accent walls, custom cabinetry, double stainless steel sinks, washer/dryer connections and private patios/balconies. Mike McGaughy and Jon Kleinberg of Transwestern represented the seller in the transaction.

July 15, 2015

Native Sun Natural Foods Market Jacksonville Beach

Florida Retail Southeast

Native Sun Natural Foods to Open New Store in Jacksonville Beach

by John Nelson July 15, 2015

JACKSONVILLE BEACH, FLA. — Native Sun Natural Foods Market, an organic grocery chain based in Jacksonville, will open a new store at the corner of 3rd Street and 15th Avenue North in Jacksonville Beach in September. The new store will anchor North Beach Village, a 20,604-square-foot shopping center leased to tenants such as El Potro Mexican Restaurant and Philly’s Finest Cheesesteaks. Native Sun has begun hiring and expects to employ roughly 50 positions. The Jacksonville Beach store will be the grocer’s third location.

July 15, 2015

Florida Mixed-Use Southeast

Ziff Properties Acquires Mixed-Use Property in Jacksonville for $8.6M

by John Nelson July 15, 2015

JACKSONVILLE, FLA. — Ziff Properties Inc. has acquired Merrill Crossings Shopping Center Phase I, a 125,869-square-foot, mixed-use property located in Jacksonville, for $8.6 million. The property comprises 45,135 square feet of retail anchored by Big Lots and 80,734 square feet of self storage. Michael Mele of Marcus & Millichap represented the seller.

July 15, 2015

Hospitality North Carolina Southeast

Hilton Worldwide Opens Embassy Suites Hotel in Charlotte

by John Nelson July 14, 2015

CHARLOTTE, N.C. — Hilton Worldwide has opened Embassy Suites Charlotte/Ayrsley, a 170-room hotel located at 1917 Ayrsley Town Blvd. in southwest Charlotte. The six-story hotel is located within walking distance of shopping, dining and a movie theater, and is also 11 miles from Charlotte Douglas International Airport. The hotel features 13,000 square feet of meeting space, a Brickstones Grill dining venue, heated indoor pool, 24-hour fitness center, complimentary Wi-Fi and a 24-hour business center. Griffin Stafford Hospitality manages the new hotel.

July 14, 2015

Georgia Multifamily Southeast

CBRE Brokers $23M Sale of Apartment Community in Atlanta

by John Nelson July 14, 2015

ATLANTA — CBRE has brokered the $23 million sale of Lakeside Village, a 310-unit apartment community located on a 50-acre parcel in Atlanta. FPA Multifamily purchased the property from Arenda Capital Management LLC, a private investment firm based in Los Angeles. Lakeside Village’s units average 1,400 square feet, among the largest floorplans in the North DeKalb submarket according to CBRE. Shea Campbell and Kevin Geiger of CBRE’s Southeast multifamily group represented the seller in the transaction.

July 14, 2015

Florida Office Southeast

CPA:18-Global Acquires Office Building in Jacksonville for $17M

by John Nelson July 14, 2015

JACKSONVILLE, FLA. — CPA:18-Global, a non-traded REIT sponsored by W. P. Carey Inc., has purchased an 88,000-square-foot office building located in Jacksonville’s Southside submarket. The Class A property is triple-net leased to Acosta Inc., an affiliate of The Carlyle Group, for 12 years. Built in 2001 as a build-to-suit for Acosta, the property serves as Acosta’s corporate headquarters and houses 400 employees.

July 14, 2015

Georgia Loans Multifamily Southeast

Dougherty Arranges $9.6M Fannie Mae Loan for Apartment Community in Macon

by John Nelson July 14, 2015

MACON, GA. — Dougherty Mortgage LLC has closed a $9.6 million Fannie Mae loan for the refinancing of Rutland Place Apartments, a 228-unit multifamily property located in Macon. The apartment community features one-, two- and three-bedroom floorplans, as well as a fitness center, two swimming pools, onsite laundry facility and a clubhouse. Dougherty’s Nashville office arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrower, Rutland Apartments LLC.

July 14, 2015

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