MIAMI — Miami-based developer Melo Group has secured $67.1 million to fund the construction of Melody, a 36-story luxury apartment building in downtown Miami. The 497-unit property will be located at 245 N.E. 14th St. The ground floor of the tower will feature restaurant space with outdoor seating opening onto a central plaza. Construction began in September and is expected to wrap up in early 2016.
ARLINGTON, VA. — Kettler is planning to develop an 11-story, 198-unit high-rise apartment community in Arlington’s Crystal City neighborhood known as m.flats Crystal City. Capital One is providing construction financing for the project. KTGY Group Inc. has designed m.flats Crystal City to meet LEED Silver certification. The transit-oriented development will be located one block from the Crystal City Metro station and will feature a resident lounge with a gaming area, fitness center, street-entry bike room, landscaped courtyard with fire and water features, outdoor seating and dining areas, outdoor kitchens and a swimming pool with a sundeck and cabanas. The project team includes civil engineer Bohler Engineering and general contractor John Moriarty & Associates. The property will be Kettler’s sixth multifamily project in the Crystal City/Pentagon City market. Kettler is expecting to break ground this month and wrap up in October 2016.
CHARLOTTE, N.C. — Batson-Cook Construction breaks ground on The Gibson, a 250-unit apartment community located at 1000 Central Ave. in Charlotte. The developer on the $25 million project is Pollack Shores Real Estate Group and the architect is Poole and Poole Architects. The apartment development will neighbor the historic Plaza Midwood and Elizabeth neighborhoods. Batson-Cook expects to deliver the mid-rise, infill apartment community in the fourth quarter of 2015.
SUNSET BEACH, N.C. AND NORTH MYRTLE BEACH, S.C. — Multi Housing Advisors (MHA) has brokered the sales of the 168-unit Tides at Calabash in Sunset Beach and the 172-unit Cherry Grove Commons in North Myrtle Beach. Hamilton Point Investments LLC acquired Tides at Calabash from Berkadia for $12.6 million and Cherry Grove Commons from Aspen Square Management for $15.1 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in both transactions. The buyer didn’t use a broker in either transaction. The two properties are approximately 15 miles apart.
NAPLES, FLA. — Steelbridge Capital has acquired Pelican Bay Executive Center, a three-building, 190,000-square-foot office complex in Naples. The park is located at Pine Ridge Road and Tamiami Trail. Tenants of Pelican Bay Executive Center include Wells Fargo Bank, Hahn Loeser LLP, Newsbank and Fischer International. The park was 71 percent leased at the time of sale. Michael Lynch of MLPA Realty Inc. represented Steelbridge Capital in the transaction. Christian Lee, Charles Foschini, Christopher Apone and Amy Julian of CBRE arranged acquisition financing for the transaction. CRE Consultants will handle the management and leasing of the office park.
ATLANTA — Columbia Property Trust, one of the largest office REITs in the nation, has completed the sale of a five-building, 1 million-square-foot office campus in Atlanta for $290 million. The campus, which is fully leased to AT&T Services Inc., is located at 1025, 1055, 1057 and 1277 Lenox Park Blvd. and 2180 Lake Blvd. in the Lenox Park office complex in the Buckhead office submarket. The buyer was undisclosed.
FORT LAUDERDALE, FLA. — CBRE’s capital markets debt & structured finance team has arranged $56 million in first mortgage bridge financing for One East Broward Boulevard, a 343,551-square-foot, Class A office tower in Fort Lauderdale. The 19-story tower was 82 percent leased at the time of sale. Jason Gaccione, Charles Foschini and Chris Apone of CBRE arranged the three-year, floating-rate, interest-only loan through Blackstone on behalf of the borrower, Ivy Realty.
FOUNTAIN INN, S.C. — Pattillo Industrial Real Estate has broken ground on a 205,000-square-foot speculative industrial facility, located on a 40-acre site at 141 Southchase Blvd. in Fountain Inn, roughly 20 miles southeast of Greenville. The Class A asset will be located in SouthChase Industrial Park and will be expandable up to 330,000 square feet. SouthChase Industrial Park is currently leased to 14 tenants, including Bosch Rexroth, W.W. Grainger, AVX Corp., Southeastern Products and Stueken. The new building will feature 30-foot clear heights, a 180-foot truck court, 45 dock positions, T5 lighting and an ESFR sprinkler system. Pattillo expects to deliver the facility in mid-2015. The developer has tapped NAI Earle Furman to lease and market the property.
MARIETTA, GA. — Colliers International’s Southeast retail investment sales team has brokered the sale of two shopping centers in the Atlanta suburb of Marietta totaling $14.4 million. The two assets include the 88,369-square-foot Home Center Village and the 206,828-square-foot Marietta Plaza. Home Center Village is 90 percent leased to tenants such as Dollar Tree and Anna’s Linens and includes Walmart Supercenter as a shadow anchor. The Geneva Group purchased Home Center Village from Mimms Enterprises for roughly $6.9 million. Marietta Plaza is anchored by Burlington Coat Factory. The Simpson Organization purchased the asset for roughly $7.5 million. Joe Montgomery and Tony D’Ambrosio of Colliers International represented the sellers in both transactions.
STERLING, VA. — NAI KLNB has brokered four leases totaling 180,000 square feet at Airport Commerce Center, a five-building, 408,000-square-foot industrial park in Sterling, near the North Gate of Washington-Dulles International Airport. With these four lease transactions, the industrial park is now 100 percent occupied. Marc Tasker and Kevin Goeller of NAI KLNB represented the owner, Deutsche Asset & Wealth Management, in all four lease transactions. The leases consisted of Eastern Motors signing a lease for 77,488 square feet at 22705 Commerce Center Court, with Bob Gibbs of CBRE representing the tenant; ViON Corp. signing a lease for 42,766 square feet at 22704 Commerce Center Court, with Chet Rao of NGKF representing the tenant; Cardinal Bakery signing a lease for 36,122 square feet at 22704 Commerce Center Court, with Bob White of Landmark Commercial representing the tenant; and Simplex Grinnell signing a lease for 23,787 square feet at 22712 Commerce Center Court.
