FORT WALTON BEACH, FLA. — Capital One Multifamily Finance has originated a $6.4 million fixed-rate loan through an unnamed CMBS lender for the acquisition of Colony House Apartments. The 139-unit, garden-style apartment community is located in Fort Walton Beach. Chad Thomas Hagwood of Capital One Multifamily originated the 10-year loan with three years of interest-only payments and a 30-year amortization schedule on behalf of the borrower, Engel Realty. Jimmy Adams of Multi Housing Advisors’ Birmingham office brokered the sale of Colony House Apartments.
SUWANEE, GA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has closed a $4.5 million supplemental loan for Noble Village of Sugarloaf. The loan will be used in conjunction with the assumption of the existing $19 million first mortgage and acquisition of the seniors housing property. Located in the Atlanta suburb of Suwanee, the 109-unit community features a pool, fitness center, library, media center, billiards room, theater, coffee house, walking paths, beauty salon and a barber shop. Richard Thomas of Grandbridge originated the fixed-rate Fannie Mae DUS loan at the same time as the assumption of the existing Fannie Mae loan, which Grandbridge had originated for the seller several years earlier.
PLANTATION, FLA. — CBRE has brokered the $52 million sale of The Manor in Plantation, a newly developed 197-unit apartment community. The mid-rise and townhome residential asset is located at 601 N.W. 82nd Ave. in Plantation. The Manor LLC purchased the apartment community from Veranda II Apartments LLC and Veranda II Townhomes LLC. The Manor’s rents have been averaging $1.99 per square foot and the property was 90 percent occupied at the time of sale. Amenities include a beach entry pool with a hot tub, clubroom with flat screen TV and WiFi loft, billiards and poker room, private dining room, business center with conference room, theater and a fitness center. Robert Given, Zachary Sackley, Gerard Yetming and Neal Victor of CBRE represented the seller in the transaction. Related Group of Florida delivered The Manor in 2013.
ALPHARETTA, GA. — Lincoln Property Co. Southeast has arranged the $50 million sale of a 184,553-square-foot data center in Alpharetta, a northern suburb of Atlanta. The data center is part of the 21-acre Windward Concourse Office Park. Carter Validus Mission Critical REIT purchased the property, which is fully occupied by GE under a long-term lease, from Datawind LLC. Tony Bartlett, Denton Shamburger and Chip Sipple of Lincoln Property Co. Southeast represented Datawind in the transaction.
SANDY SPRINGS, GA. — Oak Coast Properties and IMG have purchased Legacy Key Apartments, a 350-unit, Class B multifamily community in Sandy Springs, a northern suburb of Atlanta. Oak Coast and IMG purchased the asset from DRA Advisors LLC. Oak Coast is planning a $2 million capital improvement program for the property that includes a rebranding. Units average 959 square feet and are configured in both garden-style and townhome formats. Legacy Key’s amenity package includes controlled access gates, a clubhouse, business center, fitness center, two swimming pools, two lighted tennis courts, gazebo, picnic and grilling areas, car care center and a laundry facility.
RICHMOND, VA. — The Simpson Organization has acquired Westerre I and II, a Class A office portfolio in the Westerre Office Park in Richmond, for $22 million. The office assets total 163,290 square feet and are 92.1 percent leased to 26 tenants, including Tridium Inc., Interbake Foods LLC, Comcast and Batzli Stiles Butler Law Firm. Eric Robison of Cushman & Wakefield | Thalhimer’s Richmond office represented the undisclosed seller in the transaction. The Simpson Organization has hired Dean Meyer and Mac Wilson of Cushman & Wakefield | Thalhimer to lease the properties going forward.
ARLINGTON, VA. — ARA has brokered the sale of Infinity Apartments, a 227-unit, mid-rise apartment community in Arlington. Washington, D.C.-based Capital Investment Advisors acquired the property from San Francisco-based Carmel Partners for an undisclosed price. Drew White, Mike Marshall and Ryan Ogden of ARA represented Carmel Partners in the transaction. Capital Investment Advisors plans to make upgrades to the common areas of the apartment community, which was constructed in 1959 and renovated in 2011. Occupancy at the time of the sale was 96.7 percent.
SUWANEE, GA. — Berkadia Commercial Mortgage has arranged $73.7 million in acquisition financing for the Residences on McGinnis Ferry, a 696-unit multifamily community in metro Atlanta. The property is located at 4021 McGinnis Ferry Road in Suwanee. Matt Greer of Berkadia arranged the 10-year, floating-rate loan through Berkadia’s Fannie Mae program on behalf of the borrower, STAR McGinnis Ferry LLC, a subsidiary of Steadfast Apartment REIT Inc. The loan structure features five years of interest-only payments and a 30-year amortization schedule. Steadfast Apartment REIT purchased the multifamily development for $98.5 million. The apartment community was more than 96 percent occupied at the time of sale.
ROSWELL, GA. — Duke Land Group has unveiled preliminary plans for Riverwalk Village, a 104-acre mixed-use development in Roswell. The project will be located between Georgia 400 and Old Alabama Road. Approximately 43 percent of the land will be preserved as open space, including parks, public spaces, pedestrian-oriented zones and a system of walking and biking trails that will connect Riverwalk Village and surrounding neighborhoods to the Chattahoochee River. The project’s developers plan to construct open channel streams to an existing lake on the site, which will be surrounded with boardwalks, restaurants and retailers. The Atlanta Regional Commission (ARC) will review the proposed site plan, which calls for 1,500 residential units, including single-family attached, multifamily and active adult housing; 490,000 square feet of general commercial real estate including retail, restaurant, entertainment and grocery; 1.7 million square feet of office space; a 200-room hotel; and 200,000 square feet of civic and institutional space including the Swift School, a school for children with language-based learning differences. Pending zoning and permits, construction is expected to begin in the fourth quarter of 2015.
CHARLOTTE, N.C. — Beacon Partners has purchased four fully leased industrial building in Charlotte’s Northwest submarket totaling 386,000 square feet. Beacon Partners has re-branded the park “NorthWest Industrial Park” and has planned capital improvements to the property, including enhancements to the building entrances, truck loading areas, building exteriors, signage, landscaping, parking lots and lighting. The industrial park is rail-served and features outside storage, trailer storage and 22- to 28-foot clear heights with dock-high and drive-in loading. Pete Pittroff and Brad Cherry of JLL represented the seller, Carlson Real Estate, in the transaction. Wells Fargo provided acquisition financing. Pete Kidwell of Beacon Partners will handle NorthWest Industrial Park’s leasing responsibilities.