MAITLAND, FLA. — NXT Capital has provided a $15.3 million first mortgage loan to refinance The Q at Maitland, a 129-unit apartment community in Maitland, a suburb seven miles outside of Orlando. The property offers one- to three-bedroom residences and includes a swimming pool and fitness center. Jeff Walker, Mike Ryan, Brian Linnihan and Telly Fathaly of Cushman & Wakefield arranged the loan.
VICKSBURG, MISS. — UCR Investments has purchased Pemberton Plaza, a 27,000-square-foot shopping center in Vicksburg, roughly 45 miles west of Jackson. Pemberton Plaza’s tenant roster includes T.J. Maxx, Newks Eatery, Bestway Rent to Own and Anytime Fitness. The shopping center was 94 percent leased at the time of sale. UCR Investments purchased the asset from CBL & Associates Properties Inc. for an undisclosed amount. Micah McCullough and Brett Bailey of Jackson-based UCR Properties, an affiliate of UCR Investments, represented the buyer in the transaction. Jim Morris of CBRE’s Nashville office represented the seller.
MIAMI — HFF has arranged $80 million in construction financing for Midtown 5, a 24-story, 400-unit residential tower in midtown Miami. The property will be located roughly four miles west of Miami Beach at 3301 N.E. 1st Ave. Mike Tepedino, Elliott Throne, Jennifer Keller and Scott Wadler of HFF arranged the loan through TD Bank and Mercantil Commercebank on behalf of the borrower, a joint venture between Magellan Development Group and Midtown Development. Midtown 5 is slated for a fall 2016 completion. Chicago-based Loewenberg Architects designed Midtown 5 to achieve LEED Silver certification. The project will include 21,500 square feet of ground-floor retail space, 2,600 square feet of office space and a 450-space parking garage. The property’s amenity package also includes a 24-hour doorman, outdoor lounges with grilling stations, swimming pools and cabanas, a spa, fitness center with steam room and a sauna, game room, dog run, bike room and a business center.
ORLANDO, FLA. — Wood Partners and the Ustler Group of Cos. have completed Phase I of construction at The Ivy – Residences at Health Village, a 248-unit apartment community in downtown Orlando. The property is part of Florida Hospital’s 172-acre Health Village, a transit-oriented, master-planned urban development. Wood Residential Services is managing the property. The Ivy’s amenity package includes a cyber café, resort-style pool with a multi-level deck and cabanas, 24-hour fitness center, yoga and Pilates studio and a billiards room. The project team includes architect Baker Barrios, architect of record Charlan Brock & Associates, general contractor Wood Florida Builders, civil engineer GAI Consultants and landscape architect Libra Design Group Inc.
WOODSTOCK, GA. — Bell Partners Inc. has acquired Alta Woods, a 498-unit apartment community in Woodstock, a northern suburb of Atlanta. Bell Partners will manage the community and will rename it Bell Woodstock. The property’s amenity package includes two clubhouses, WiFi access, two outdoor pools, a sand volleyball court, nine-hole putting green, outdoor playground, lighted tennis courts, two fitness centers, dog park and multiple grill and picnic areas. Bell Woodstock was more than 96 percent occupied at the time of sale.
NEW YORK — Berkadia Commercial Mortgage LLC has originated a $14.1 million loan to refinance three assisted living facilities in North Carolina. Christopher Fenton of Berkadia’s seniors housing and healthcare group originated the 35-year, fixed-rate financing through HUD’s 232/223(f) program on behalf of the borrower, an affiliate of Agemark Assisted Living. The properties total 111 assisted living units and are 90 percent occupied.
RICHMOND, VA. — Capital One Multifamily Finance has provided a $12.7 million Fannie Mae loan to refinance Wilde Lake Apartments, a 190-unit apartment community in Richmond. Sadhvi Subramanian and Mike Antonelli of Capital One originated the 10-year loan with a 30-year amortization schedule on behalf of the borrower, an affiliate of Lerner Enterprises. The property’s amenity package includes a pool, fitness center with a sauna, tennis courts and a clubhouse with a billiards room.
ALPHARETTA, GA. — Developer North American Properties (NAP), Alpharetta Mayor David Belle Isle and other dignitaries and business professionals officially opened Avalon for business yesterday morning. The $600 million development features single-family homes, chef-driven restaurants and national eateries, a Whole Foods Market, apparel retailers, a gym, 12-screen Regal theater, dog park and upscale apartment residences. Retail tenants include Arhaus, Banana Republic, Columbia, Everything But Water, J. Crew, lululemon athletica, Orvis, Pottery Barn Kids, Ted’s Montana Grill and West Elm. Phase II of Avalon, which has been approved for construction, includes 85,000 square feet of retail and restaurant space and is scheduled to open in fall 2016.
THOMSON, GA. — Hollander Sleep Products has selected Red Rock Developments to construct its 200,000-square-foot manufacturing and warehouse facility in Thomson. The property will be Hollander’s 10th manufacturing facility in the United States. The company’s bedding products include Laura Ashley, Ralph Lauren, Beautyrest and Waverly.
PONTE VEDRA BEACH, FLA. — Cocke Finkelstein Inc. (CFI) has acquired Remington at Ponte Vedra Lakes, a 344-unit apartment community in Ponte Vedra Beach, for $35.4 million. CFI’s apartment management subsidiary CFLane will manage the property, which was 96 percent occupied at the time of sale. Built in 1986, Ponte Vedra Lakes features a racquetball court, fitness center, playground, two swimming pools, car care center, dog park and lakeside vistas. The garden-style apartment community is located within a three-minute drive to public beach access. The property is the 40th Florida apartment community in CFLane’s management portfolio. CFI plans to implement a multimillion dollar renovation plan for the community in the near future.