Southeast

Ambassador Town Center Lafayette Louisiana

Stirling Properties, CBL & Associates Breaks Ground on 425,000 SF Shopping Center in Louisiana

by John Nelson April 17, 2015

LAFAYETTE, LA. — Stirling Properties and CBL & Associates Properties Inc. have begun construction on Ambassador Town Center, a 425,000-square-foot shopping center anchored by Costco Wholesale in Lafayette. Other committed tenants include Dick’s Sporting Goods, Field & Stream, Marshalls, HomeGoods, Nordstrom Rack, Off Broadway Shoes, Chuy’s, Panera Bread, Freddy’s Frozen Custard & Steakburgers, BJ’s Restaurant & Brewhouse, World of Beer and Blaze Pizza. The 58-acre site for the new shopping center is located at the corner of Ambassador Caffery Parkway and Kaliste Saloom Road. The developers plan to open the project in March 2016 and expect to create approximately 2,200 construction jobs, 1,000 permanent jobs and generate nearly $9 million annually in sales taxes for the city of Lafayette.

April 17, 2015

Multifamily South Carolina Southeast

MHA Brokers Sales of Five South Carolina Apartment Communities for a Total of $52.6M

by John Nelson April 17, 2015

CHARLOTTE, N.C. — Multi Housing Advisors (MHA) has brokered five separate sales of apartment communities in South Carolina totaling $52.6 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions. The transactions include: • Greystone & Co. sold the 152-unit The Reserve at Cavalier and the 130-unit Hampton Forest, both located in Greenville, to two separate funds controlled by Monument Capital Management. • Applegate & Co. sold the 312-unit Polo Village, located in Columbia, to an affiliate of EBSCO Income Properties LLC. • LNR Partners sold the 176-unit Pocalla Springs, located in Sumter, to an undisclosed buyer. • Southwood Realty sold the 132-unit Heather Heights, located in Rock Hill, to Varden Capital Properties.

April 17, 2015

Loans Maryland Retail Southeast

Cronheim Arranges $52.7M Loan for THE AVENUE at White Marsh

by John Nelson April 17, 2015

BALTIMORE — Cronheim Mortgage Corp. has arranged $52.7 million in financing for THE AVENUE at White Marsh, a 298,000-square-foot main street lifestyle center in Baltimore’s White Marsh community. Constructed in 1997, THE AVENUE’s tenant roster includes a 16-screen AMC Theatre with an IMAX screen, Ulta Beauty, Chico’s, Old Navy, Starbucks, A.C. Moore, Staples, Carter’s, Famous Footwear and Pier 1 Imports. Andrew Stewart and Dev Morris of Cronheim arranged the seven-year, interest-only loan with a fixed interest rate of 3.35 percent on behalf of the borrower, Federal Realty Investment Trust.

April 17, 2015

Georgia Multifamily Southeast

The Connor Group Sells Atlanta Apartment Community for $23.7M

by John Nelson April 17, 2015

ATLANTA — The Connor Group has sold Carriage Place, a 228-unit apartment community located near Emory University in Atlanta, for $23.7 million. The property is the company’s 20th community in the Atlanta market. The Connor Group entered the Atlanta market in 2003 and still owns five communities in the area. The Connor Group reportedly doubled their investment with the sale. The company has $1.5 billion in assets and owns and operates communities in Atlanta, Austin, Charlotte, Chicago, Cincinnati, Columbus, Dallas, Dayton, Nashville and Raleigh-Durham.

April 17, 2015

Retail Southeast Tennessee

Home Décor Retailer Castilleja to Open New Store in Nashville’s Edgehill Village

by John Nelson April 17, 2015

NASHVILLE, TENN. — Castilleja, a lifestyle and home décor retailer, plans to open a new 2,300-square-foot store in Edgehill Village, a shopping district right off Music Row in Nashville. The store is located at 1200 Villa Place, Suite 403. The company was founded by Liz Rose, a Grammy Award-winning songwriter. The store offers a variety of home furnishings, art, clothing and gifts.

April 17, 2015

Florida Mixed-Use Southeast

Axiom Capital Advisors Brokers $16.5M Sale of Mixed-Use Center in Coral Gables

by John Nelson April 16, 2015

CORAL GABLES, FLA. — Aventura, Fla.-based Axiom Capital Advisors has brokered the $16.5 million sale of Riviera Plaza, a 55,161-square-foot mixed-use development located at 1542 S. Dixie Highway in Coral Gables. Roberto Susi of Axiom Capital represented the buyer, Riviera Holdings Plaza LP, a partnership between Gadinsky Real Estate, Echion USA and 13th Floor Investments. The partnership purchased the asset in an off-market transaction. According to Susi, the new ownership is contemplating repositioning Riviera Plaza to include multifamily housing.

April 16, 2015

District of Columbia Loans Office Southeast

HFF Arranges $14.5M Acquisition Loan for D.C. Office Building

by John Nelson April 16, 2015

WASHINGTON, D.C. — HFF has arranged a $14.5 million acquisition loan for a 32,000-square-foot office building located at 1509 16th St. N.W. in Washington, D.C.’s Dupont Circle neighborhood. Dan McIntyre of HFF arranged the 10-year, fixed-rate loan through First National Bank on behalf of the borrowers, MidAtlantic Realty Partners LLC and UberOffices. In addition to the acquisition, the borrowers will use the loan proceeds to fund renovation/lease up costs. Originally built in 1909, the building will be fully renovated by early 2016 for UberOffices, which will occupy the entire office building.

April 16, 2015

District of Columbia Retail Southeast

Divaris Real Estate Brokers $5.5M Sale of Shopping Center in D.C.

by John Nelson April 16, 2015

WASHINGTON, D.C. — Divaris Real Estate Inc. has brokered the sale of Brookland Plaza, an 18,000-square-foot shopping center located at 3730 10th St. N.E. in Washington, D.C. Urban Investment Partners purchased the asset from Jan and Anna Slamen Family Trust for $5.5 million. Joseph Farina, John Camp and Amit Grover of Divaris represented the buyer and seller in the transaction.

April 16, 2015

Industrial South Carolina Southeast

Lyons Industrial Properties Brokers $3.3M Sale of 208,000 SF Industrial Facility in Gaffney

by John Nelson April 16, 2015

GAFFNEY, S.C. — Lyons Industrial Properties has brokered the sale of a 208,000-square-foot industrial facility located at 805 Victory Trail Road in Gaffney. The property is leased to Suminoe Textiles of America, a textile distributor to the automotive industry. Bobby Lyons of Lyons Industrial Properties represented the seller, Anderson Family Associates, in the transaction. Reger Holdings purchased the asset for $3.3 million.

April 16, 2015

Georgia Hospitality Southeast

HDP, Hotel Equities Acquire a Portfolio of Marriott Hotels in Georgia

by John Nelson April 15, 2015

ATLANTA — Atlanta-based Hotel Development Partners (HDP) and its joint venture partner, Atlanta-based Hotel Equities, have acquired a portfolio of seven select-service Marriott hotels in metro Atlanta and Macon. The joint venture purchased the portfolio from Houston-based Moody National for an undisclosed price. The seven hotels are Fairfield Inn & Suites in Macon, Fairfield Inn & Suites Alpharetta, Fairfield Inn & Suites Buckhead, Fairfield Inn & Suites Perimeter Center, SpringHill Suites Alpharetta, TownePlace Alpharetta and TownePlace Suites Kennesaw. HDP and Hotel Equities plan to invest $17 million in the portfolio for capital improvements. Hotel Equities will manage the seven hotels.

April 15, 2015

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