MANASSAS, VA. — Aztec Group Inc. has secured $8 million in financing for Self Storage Plus Manassas, a 697-unit, 73,400-square-foot self storage facility in Manassas. The property, built in 2008, is located at 11840 Sudley Manor Drive. Charles Penan and Howard Taft arranged the 10-year loan with a fixed 5.15 interest rate through Goldman Sachs on behalf of the borrower, a self storage developer, owner and operator based in Washington, D.C. The loan features a 30-year amortization schedule.
Southeast
KEY WEST, FLA. — Inland American Lodging Group Inc., a subsidiary of Inland American Real Estate Trust Inc., has purchased the Hyatt Key West Resort and Spa in Key West for approximately $76 million. Hyatt Hotels Corp. will continue to manage the resort under a new management agreement. The resort has 118 guestrooms, Shor American Seafood Grill, Blue Mojito Pool Bar and Grill, Jala Spa, a heated outdoor swimming pool and whirlpool, a sundeck, poolside cabanas, a gym and three meeting/event spaces totaling 2,500 square feet. Hyatt has sold seven of its hotels or resorts for more than $500 million so far this year. The Key West resort is Inland American’s 14th hotel purchase in 2013.
CORAL GABLES, FLA. — HFF has arranged the $38.7 million sale of Plaza San Remo, a Whole Foods-anchored retail condominium at 6701 Red Road in Coral Gables. Plaza San Remo is the retail component of a seven-story, 180,000-square-foot mixed-use development that includes retail, medical office condominiums and a 739-space parking garage. The property, which was built in 2007, was 99 percent leased at the time of sale. Danny Finkle, Luis Castillo and Kim Flores of HFF represented the seller, LIC Coral Gables Retail Inc., a Germany-based investment group, in the transaction. The seller was also advised by Dallas-based Phoenix Property Co. The buyer, an institutional investor, purchased the property clear and free of debt.
ORLANDO, FLA. — Boca Raton, Fla.-based Halvorsen Holdings has completed Town Park Shopping Center, a Publix-anchored retail property located at the intersection of Woodbury Road and East Colonial Drive in Orlando. In addition to Publix, the 64,000-square-foot shopping center’s current tenant roster includes Anytime Fitness, Hair Cuttery, TJ’s Seafood and a pizza chain. Three of the four outparcels are occupied by McDonald’s, Cheddars and Wawa.
NASHVILLE, TENN. — Cushman & Wakefield | Cornerstone’s healthcare practice group has arranged a 109,751-square-foot office lease at Burton Hills Office Park in Nashville’s Green Hills submarket. The building is under development and is expected to be delivered in 2015. AmSurg Corp. is leasing space in the three-story building, which will feature three levels of underground parking. The new space will house 350 of AmSurg’s employees and will eventually serve as the firm’s corporate headquarters. Dick Fleming, Terry Smith, Ben Burns and Henry Trost of Cushman & Wakefield | Cornerstone represented AmSurg in the transaction.
AUGUSTA, GA. — Skanska USA has erected the last steel beam for the J. Harold Harrison, M.D. Education Commons building, a three-story, 172,000-square-foot building on Georgia Regents University’s campus in Augusta. The cost of construction was $76.5 million. The building will house two 300-seat auditoriums, a 26,620-square-foot simulation library, 13 learning communities, classrooms and Medical College of Georgia administrative offices. The new building, which Skanska USA will complete by fall 2014, will allow the university to increase the class size of the Medical College of Georgia from 230 to 300 students by 2020 and the College of Dental Medicine to increase its class size from 63 to 100 by 2016.
NORTH MIAMI, FLA. — ARA has arranged the sale of Berkshires at Walden Lake, a 400-unit apartment community located in North Miami. The asset sold for approximately $44.5 million. The apartment community, which was constructed in 1986, was 95 percent occupied at the time of the sale. Hampton Beebe, Avery Klann and Dick Donnellan of ARA’s Boca Raton, Fla., office represented Boston-based Berkshire Property Advisors in the sale. Advenir, a multifamily investor and operator based in Aventura, Fla., purchased Berkshires at Walden Lake.
LOS ANGELES — A fund advised by CBRE Global Investors has purchased a six-asset portfolio that includes office, industrial and retail properties across the United States. The properties include 2532 Whilden and 2525 Whilden, two Class A industrial assets in Durham, N.C., totaling 425,815 square feet. The other four properties are located in Dallas; Denver; Orange County, Calif.; and Portland, Ore.
HARRISONBURG, VA. – Vesper Holdings has acquired University Fields, a 1,152-bed student housing community approximately one-quarter of a mile from the James Madison University campus in Harrisonburg. The community is located across the street from the university’s newer athletic facility, University Park, which opened in 2012. Vesper, a private real estate investment firm based in New York City, purchased the non-performing note on University Fields on Oct. 28 for $19 million. The firm also says it will invest $5 million in capital expenditures to fully renovate University Fields. The community consists entirely of four-bedroom units that range in size from 1,100 to 1,200 square feet, which are housed in 22 three-story residential buildings spread across a 23.6-acre site.
WASHINGTON, D.C. — A group that includes Urban Investment Partners (UIP), PRP LLC and Perseus Realty has acquired Capitol Park Towers, a 289-unit apartment complex in southwest Washington, D.C., for $34 million. The apartment community is located at 301 G St. S.W. The new owners plan to invest in renovations for the apartment complex. UIP General Contracting Inc., a subsidiary of UIP, will perform the renovation work and UIP Property Management Inc. will manage Capitol Park Towers.