GASTONIA, N.C. — NorthMarq Capital has arranged $10 million in refinancing for Ashbrook Village Apartments, a 423-unit multifamily community located in Gastonia. Bill Matone of NorthMarq’s Charlotte office arranged the 10-year loan with a 20-year amortization schedule through Freddie Mac.
Southeast
NORTON, VA. — HREC Investment Advisors has arranged the sale of the 120-room Inn at Norton in Norton, a town in western Virginia. The town is located 20 miles from the Kentucky state line and 45 miles from the Tennessee state line. The hotel recently joined the Quality Inn system. Ted Anka of HREC Investment Advisors’ Chicago office represented the seller in the transaction.
ATLANTA — CoStar Group, a commercial real estate information provider, has expanded its lease at Phipps Tower, a 486,917-square-foot, Class A office tower in Atlanta’s Buckhead submarket. CoStar will expand its current 26,800-square-foot lease to occupy a total of 44,000 square feet. Kirk Diamond, April Hawkinson and Erin Smith of Cassidy Turley represented CoStar in the 10-year lease. John Bell and Sara Terry of Crescent Resources represented the owner, John Hancock Life Insurance, in the lease deal. CoStar plans to hire 90 additional employees as part of a plan to relocate the firm’s Southeast region research functions from its Washington, D.C., headquarters. The research firm plans to occupy the new space in the second quarter.
ARLINGTON, VA. — Cresa Washington DC has arranged a 39,192-square-foot office lease extension at N. Kent St. in Arlington’s Rosslyn neighborhood. Tom Birnbach, Mindy Saffer and Dennis Tapiero of Cresa Washington DC represented tenant International Relief & Development, a nonprofit organization, in the lease transaction. Vornado/Charles E. Smith owns the 12-story, 230,000-square-foot office building known as Rosslyn Plaza E.
LORTON, VA. — CBRE has brokered the $24 million sale of a 90,167-square-foot, Class A office building located at 10555 Furnace Road in Lorton, about 19 miles southeast of Washington, D.C. The Drug Enforcement Administration (DEA) occupies the property, which is located in Gunston Commerce Center. The build-to-suit property houses DEA’s Office of Investigative Technology division. CBRE represented the seller in the transaction. Titanium Real Estate Advisors purchased the facility. The DEA’s lease extends through 2020 and features a five-year renewal option.
ATLANTA — The RADCO Cos. has acquired the 160-unit Les Jardins Apartments, a distressed multifamily community located in Atlanta’s Chamblee submarket, for approximately $9.4 million. The property consists of 60 percent three-bedroom units, 25 percent two-bedroom units and 15 percent four-bedroom units. The asset is located within blocks of an elementary school, middle school and Mercer University’s Atlanta campus. The RADCO Cos. is an Atlanta-based turnaround specialist that currently has more than 5,300 multifamily units in its portfolio. The company will rename the asset Ashford Embry Hills.
ORLANDO, FLA. — Lincoln Property Co. Southeast has arranged the sale of four office buildings totaling 182,000 square feet in metro Orlando in two separate transactions. The combined sales price for the assets totaled $8.7 million. In one transaction, UP Fieldgate US Investments-Fashion Square LLC purchased Corporate Park I and II in Orlando from RGA Real Estate Holdings for $4.75 million. Scott Corbin of Colliers International represented the buyer in the transaction. In the other transaction, Vista Premier Point LLC purchased Premier Point North and South in Orlando suburb Altamonte Springs from RGA Reinsurance Co. for $3.95 million. Joe Rossi of Lincoln Property Co. Southeast represented the sellers in both transactions.
MIAMI — Marcus & Millichap has brokered the $8.6 million sale of Big Key Self Storage, a 97,929-square-foot, 744-unit self storage facility located at 16200 S.W. 137th Ave. in Miami. Big Key Self Storage is a Class A facility that was built in 2008. The facility features 226 non-climate controlled units and 518 climate controlled units. Michael Mele of Marcus & Millichap’s Tampa, Fla., office represented the seller, a limited liability company, in the transaction. Mele also procured and represented the buyer, a limited liability company based in New York.
FOUNTAIN INN, S.C. — Cushman & Wakefield | Thalhimer has arranged a lease renewal of 168,087 square feet at 111 Southchase Blvd. in Fountain Inn, about 20 miles southwest of Greenville, S.C. Charles Whitmire, Brian Young and Chris Norvell of Cushman & Wakefield | Thalhimer represented the tenant, Caterpillar Inc., in the lease deal.
PORT ST. LUCIE, FLA. — Martin Health System has opened Tradition Medical Center, a 201,184-square-foot acute care hospital in Port St. Lucie, after more than a decade of planning. The 90-bed hospital is located on the Tradition Center for Innovation campus. CBRE Healthcare provided project advisory solutions to Martin Health System during development. Other members of the project team include architect HKS, construction manager BBC, civil engineer CAPTEC Engineering Inc., structural engineer TRC Worldwide Engineering Inc., MEP engineer TLC, interior design firm InDesign Studio, security firm Tyco, signage firm Creative Sign Design and medical equipment provider Mitchell Planning. The new hospital will provide emergency services, intensive care, labor and delivery, neonatal intensive care, general and specialized surgery, inpatient oncology, MRI and CT services, clinical research and gastrointestinal endoscopy.