NORTH CAROLINA — Berkadia Commercial Mortgage LLC has originated $85.9 million in financing for a portfolio of 15 seniors housing communities in North Carolina. Christopher Fenton of Berkadia worked with subsidiaries of Chevalier Group to secure the 35-year, fixed-rate financing through HUD’s 232/223(f) program. The loans are fully amortizing and feature a fixed 4.03 percent interest rate. Meridian Senior Living operates the 15 facilities, which consist of 1,136 beds and are approximately 90 percent occupied. The borrower will use the loans to refinance prior debts, which Berkadia originated in conjunction with GE Capital Healthcare Financial Services in 2012.
Southeast
SPARTANBURG, S.C. — Cushman & Wakefield’s capital markets group has brokered the sale of the Adidas U.S. Distribution Center, a 1.9 million-square-foot distribution campus in Spartanburg, for an undisclosed price. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield’s Atlanta office, along with Chris Norvell and Brian Young of the Carolinas Cushman & Wakefield | Thalhimer’s capital markets group, represented the sellers, Real Estate Capital Partners and IVG Institutional Funds. The buyer was undisclosed.
HANOVER, MD. — Terreno Realty Corp. has purchased a 159,000-square-foot industrial property in Hanover for approximately $18 million. The asset is located at 7190 Parkway Drive, about three miles away from the Baltimore/Washington International Airport. The asset includes 32 loading docks, trailer storage and parking for 207 cars. The property is fully leased to two tenants. The seller was undisclosed.
NORCROSS, GA. — United Arab Shipping Co. has purchased a 50,000-square-foot, two-story office building at 5515 Spalding Drive in Norcross for an undisclosed price. Bob Misdom of Cresa Atlanta represented the buyer in the transaction. The buyer plans to consolidate existing offices in Cranford, N.J., Norfolk, Va., and Savannah, Ga., to its new metro Atlanta location. Peter McGuone and Bryan Heller of CBRE’s Atlanta office represented the seller, Land Investment Partners, in the transaction.
DULUTH, GA. — RexxHall Realty has acquired a six-building, 250,000-square-foot office portfolio in Duluth, a suburb of Atlanta. The portfolio is located in the Chattahoochee Corners office park. This the first time since 1998 that a single entity has owned Chattahoochee Corners — RexxHall previously acquired 250,000 square feet of office space from The Alter Group at Chattahoochee Corners in August 2013. RexxHall plans to make capital improvements to the park, including a new full-service fitness center, improved running trails, food truck program and completion of its fiber optic network. Including this transaction, RexxHall owns approximately 700,000 square feet of office space in metro Atlanta. Tom Shafer of CBRE represented the undisclosed seller in the transaction. Bryan Heller, Heather Lamb and Peter McGuone of CBRE have been given the leasing assignment for the park. Alter Asset Management will handle property management services for the park.
COLUMBIA, S.C. —Peachtree Hotel Group has acquired the Courtyard Marriott in downtown Columbia for an undisclosed price. The nine-story, 189-room hotel features 5,213 square feet of flexible meeting space, a full-size restaurant, bar, business center, high-speed internet, a gift shop, valet and a dry-cleaning service, as well as a free shuttle to the Columbia Metropolitan Airport. The property is slated to undergo a $3.5 million renovation, which will include the new Courtyard “Refreshing Business” lobby and a new bistro restaurant concept, as well as improvements to meeting spaces and guest rooms. Sam Winterbottom and Bhavesh Patel of Newmark Grubb Knight Frank Hotels, along with Marshall Kibler of Newmark Grubb Wilson Kibler, represented the seller, an affiliate of Fillmore Capital Partners LLC.
GREENSBORO, N.C. — Home2 Suites by Hilton has opened its 30th hotel nationwide: Home2 Suites by Hilton Greensboro Airport in Greensboro. The five-story, 95-suite hotel is located at 7801 National Service Road, which is minutes away from the Piedmont Triad International Airport. Triad Hotels LLC owns the hotel, which is the fourth Home2 Suites by Hilton hotel in North Carolina. The hotel features a combined fitness and laundry area called Spin2 Cycle, as well as an indoor chlorine pool and gas grills.
DESTIN, FLA. — Marcus & Millichap has arranged the sale of Country Inn & Suites, an 83-room hotel located at 4415 Commons Drive E. in Destin. The hotel sold for approximately $4.7 million. Nearby attractions include the beach, several country clubs and Destin Commons, an upscale outdoor lifestyle center. David Greenberg and David Altman of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor based in Kansas, in the transaction. Greenberg and Altman also procured and represented the buyer, a private investor based in Alabama.
ACWORTH, GA. — Affiliates of Compass Self Storage, a member of Amsdell Cos., have acquired a self storage property located at 5488 Wade Green Road in Acworth, a northern suburb of Atlanta, for an undisclosed price. Compass Self Storage will operate the 42,000-square-foot facility, making it the fifth Compass facility in Georgia. This is Compass Self Storage’s 10th acquisition in the past 12 months.
MIAMI — The Melo Group has topped off a 32-story mixed-use tower located along the Miami River at 340 W. Flagler St. in downtown Miami. Known as Flagler on the River, the property will include 250 residential units, as well as office space and two street-level floors of retail and restaurant space facing the river. The tower is slated to open in June. Rental rates for the residential units start at $1,450 per month for a one-bedroom unit, $1,900 per month for a two-bedroom unit and $2,400 per month for a three-bedroom unit. The property will feature a pool deck, fitness center, garage parking and a social room for residents.