JACKSONVILLE, FLA. — Value Place, an economy extended-stay hotel brand, has opened a newly constructed hotel at 10520 Balmoral Circle West in Jacksonville. The four-story, 124-room property is located nine miles north of downtown Jacksonville. Each room features a large flat-screen TV, high-speed wireless internet and a full kitchen. This is the third Value Place hotel in the Jacksonville area.
Southeast
BOCA RATON, FLA. — Meridian Capital Group LLC has arranged $15.5 million in refinancing for the Shoppes at Blue Lake, a 50,000-square-foot shopping center in Boca Raton. Notable tenants of the shopping center include Wells Fargo, PNC Bank and Miller’s Ale House. Michael Brown, Noam Kaminetzky and Daniel Bockstoce of Meridian’s Boca Raton office arranged the seven-year loan with a fixed interest rate of 4.13 percent.
CONYERS, GA — Franklin Street Real Estate Services has brokered the sale of a 3,200-square-foot Aspen Dental at 1450 Highway 138 in Conyers, about 20 miles east of Atlanta. The freestanding asset sold for approximately $1.4 million. Mac McCall of Franklin Street represented the seller, a local developer, in the transaction. The buyer, a California-based entity, purchased the property through a 1031 tax-deferred exchange. The buyer was represented in-house. The sale included a 10-year double-net lease with 10 percent rent increases every five years, as well as shared area access with Wells Fargo Bank.
TEGA CAY, S.C. — Red Capital Partners LLC has provided a $26.2 million construction loan for The Wellmore of Tega Cay, a new Class A seniors housing facility in Tega Cay, a suburb of Charlotte, N.C. The 150,000-square-foot, 152-unit campus will offer assisted living, memory care and skilled nursing services. Upon completion, affiliates of Maxwell Group Inc. will operate the project. Red Capital provided the loan to an affiliate of CNL Healthcare Properties.
WINCHESTER, VA. — Capstone Apartment Partners has arranged the sale of Peppertree Apartments, a 194-unit, garden-style apartment community located in Winchester, a city in western Virginia. Atlanta-based CF Lane purchased the apartment property from The Related Cos. for approximately $14.1 million. The community was 96 percent occupied at the time of sale and features a fitness center, swimming pool, tennis courts and two playgrounds. Andrew Klenk, Brian Ford, Beau McIntosh and Todd Conner of Capstone Apartment Partners represented the seller in the transaction.
PETERSBURG, VA. — Rendina Cos. has completed the development of Southside Regional Medical Arts Pavilion, a $10 million, 32,500-square-foot healthcare facility in Petersburg. The property is located adjacent to the Southside Regional Medical Center at 200 Medical Park Blvd. The facility will be the new home for Southside Regional Medical Center’s Cancer Center and a new women’s imaging center.
BALTIMORE — HFF has arranged the sale of Halstead at Guilford, a 234-unit, 14-story high-rise apartment building in Baltimore’s Guilford neighborhood. The property, renovated in 2006, features a 3,000-square-foot fitness center, rooftop pool, club room, movie theater, library/business center, gaming room, laundry center and gated dog park. The units average 1,147 square feet. David Nachison, Alan Davis, Brenden Flood and Bret Thompson of HFF represented the seller, The DSF Group, in the transaction. Cornerstone Real Estate Advisers purchased the asset for an undisclosed amount.
CHARLOTTE, N.C. — Rooms To Go has renewed its lease of 117,400 square feet of industrial space at 3005 Crosspoint Center Drive in Charlotte. Warren Snowdon and David Hanna of Cushman & Wakefield | Thalhimer represented Rooms To Go in the lease transaction.
LANDOVER, MD. — Finmarc Management Inc. has sold a 216,000-square-foot warehouse property in Landover for approximately $31.7 million. The asset is located at 1701 Brightseat Road and currently serves as a temperature-controlled warehouse for the United States Library of Congress to store documents, books, photographs, periodicals and archival records. The warehouse is leased to the General Services Administration through Jan. 31, 2022. Marc Rampulla, Scott Frankel, Marcy Owens Test and Edward Welbourn of CBRE represented Finmarc in the transaction. The buyer was Charlotte, N.C.-based Salus Property Investments.
CONCORD, N.C. — KBS Legacy Partners Apartment REIT, a public non-traded REIT sponsored by KBS Capital Advisors LLC and Legacy Partners Residential Realty LLC, has purchased Legacy at Concord for $28 million. The Class A, 240-unit apartment community is located in Concord, a suburb of Charlotte. The property was 91 percent occupied at the time of sale.