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Southeast

2460 Peachtree
GeorgiaLoansSoutheast

HFF Arranges $33.3M Acquisition Loan for Buckhead High-Rise Apartment Community

by John Nelson

ATLANTA — HFF has arranged $33.3 million in acquisition financing for 2460 Peachtree Apartments, a 19-story multifamily community in Atlanta’s Buckhead neighborhood. The 236-unit community is located at the intersection of Peachtree Road and Lindbergh Drive. The property features an outdoor swimming pool with a sundeck, grilling area, resident garden, fitness center, saunas, hot tub, clubroom and a 24-hour doorman. The property was 98 percent occupied at the time of sale. Stephen Skok, Jason Bond and Mark Sixour led the HFF debt placement team that arranged the seven-year acquisition loan through Freddie Mac on behalf of the borrower, an affiliate of Waterton Associates LLC.

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2501 M Street
District of ColumbiaOfficeSoutheast

PRP Acquires Office Building in D.C.’s West End for $31.6M

by John Nelson

WASHINGTON, D.C. — PRP LLC has purchased a 100,000-square-foot office building located at 2501 M St. N.W. in Washington, D.C.’s West End for $31.6 million. PRP acquired the property from the Association of American Medical Colleges on behalf of one PRP’s real estate funds in partnership with an institutional investor. PRP will convert the building into a 60-unit luxury residential condominium property with 11,475 square feet of retail space featuring outside dining. PRP plans to begin selling condo units in 2015 and deliver the finished homes by mid-2016.

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FloridaMultifamilySeniors HousingSoutheast

Forest City Sells Independent Living Community in Florida for $18.5M

by John Nelson

LAUDERHILL, FLA. — Forest City Enterprises Inc. has completed the $18.5 million sale of Forest Trace, a 322-unit independent living seniors apartment community in Lauderhill. Forest Trace, which includes 40 assisted living beds, was purchased by Pacifica Lauderhill LLC. The buyer also assumed the existing mortgage on the property. The property was originally developed in 1989 and was acquired by a subsidiary of Forest City in 2000.

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Wells Fargo Tampa
FloridaOfficeSoutheast

CBRE Brokers Sale of Wells Fargo Center in Downtown Tampa

by John Nelson

TAMPA, FLA. — CBRE has brokered the sale of Wells Fargo Center, a Class A, 389,608-square-foot office building located at 100 S. Ashley Drive in downtown Tampa. The 22-story LEED Gold-certified building was 93 percent leased at the time of sale to tenants such as Wells Fargo, UBS, USAA, Valet Waste, Phelps Dunbar, AllegiantMD, Warren Averett and Carlton Fields. Wells Fargo Center features a fitness center, café, full-service bank branch, ATM, new conference center and a complimentary shuttle service. Christian Lee, Dale Peterson, Charles Foschini and Marcos Minaya of CBRE brokered the transaction.

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Booz Allen Hamilton
FloridaIndustrialSoutheast

Calkain Cos. Brokers $9.6M Flex Building in Panama City Beach

by John Nelson

PANAMA CITY BEACH, FLA. — Calkain Cos. has brokered the $9.6 million sale of a single-tenant office/industrial asset located at 1300 Thomas Drive in Panama City Beach. The 83,000-square-foot property is anchored by Booz Allen Hamilton. Stephen Counts and Brian O’Hear of Calkain Cos. represented the seller, Skyview Development, in the transaction.

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Due West
AlabamaRetailSoutheast

The Shopping Center Group Brokers $10M Sale of Two Retail Assets in Alabama, Georgia

by John Nelson

MERIDIANVILLE, ALA. AND MARIETTA, GA. — The Shopping Center Group (TSCG) has brokered the sale of two shopping centers in the suburbs of Huntsville, Ala., and Atlanta for nearly $10 million. Flint Crossing in Meridianville sold for $6.5 million and The Shoppes at Due West Pavilion in Marietta sold for $3.3 million. The 65,000-square-foot Flint Crossing is fully leased to tenants such as Publix, Rite Aid, Mattress King, Regis Salons, Subway, Domino’s Pizza, China One and Madison County Commission. TSGC represented the seller, Flint Crossing Market Center LLC, in the transaction. The buyer was Real SUB LLC. The 18,200-square-foot Shoppes at Due West Pavilion is 92 percent leased to tenants such as Nature’s Corner Market, Blimpie, Peace Love Pizza and Daily Grind. TSCG represented the seller, The Shoppes at Due West Pavilion LLC, in the transaction. The buyer was SCGV-Due West LLC, a private fund based in the Southeast.

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Shoppes at College Park
RetailSoutheastVirginia

S.L. Nusbaum Brokers $8.8M Sale of Virginia Shopping Center

by John Nelson

FARMVILLE, VA. — S.L. Nusbaum Realty Co. has brokered the $8.8 million sale of The Shoppes at College Park, a 106,000-square-foot shopping center located on South Main Street in Farmville. The shopping center’s tenant roster includes Rite Aid, Dollar General, Goodwill, Advance Auto Parts and Buffalo Wild Wings. Nathan Shor of S.L. Nusbaum Realty represented the seller, Farmville Partners LLC, in the transaction. The buyer purchased the asset in a 1031 tax-deferred exchange. S.L. Nusbaum Realty is a Norfolk, Va.-based partner of X Team International, an international alliance of retail real estate advisors.

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FloridaIndustrialSoutheast

Colliers Brokers $5.3M Sale of Industrial Asset in Lakeland

by John Nelson

LAKELAND, FLA. — Colliers International has brokered the $5.3 million sale of a 113,308-square-foot industrial property located at 5120 Great Oak Drive in Lakeland. Edward Miller and Dolores Seymour of Colliers International’s Tampa Bay office represented the seller, Great Oak Property Management LLC, which was conducting business under the moniker Structall Building Systems. The buyer was Brennan Investment Group LLC.

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Carefree Place
MultifamilySoutheastVirginia

Capstone Brokers $2.1M Sale of Two Apartment Communities in Roanoke

by John Nelson

ROANOKE, VA. — Capstone Apartment Partners has brokered the sale of two apartment communities in Roanoke known as Carefree Place and Ellsworth Place. Mid Atlantic Funding LLC purchased both properties from Rapp Properties LLC for $2.1 million, or $52,500 per unit. The communities had an average occupancy rate of 98 percent at the time of sale. Todd Conner and Beau McIntosh of Capstone represented Rapp Properties in the transaction.

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Aloma Square
FloridaRetailSoutheast

Plaza Advisors Brokers Sale of Shopping Center in Metro Orlando

by John Nelson

WINTER PARK, FLA. — Plaza Advisors has brokered the sale of Aloma Square Shopping Center, a grocery-anchored shopping center in Winter Park, a suburb of Orlando. The property was 88.8 percent leased at the time of sale to tenants such as Aldi, Deal$, CARQUEST, Fresenius Medical Care, CosmoProf, Liberty Tax and Subway. Mike Cvetetic and Jim Michalak of Plaza Advisors represented the seller, Noble Properties, in the transaction. The buyer was Aloma Square WP LLC.

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