MABELVALE, ARK. — Dougherty Mortgage LLC has closed a $1.4 million loan to refinance Phase II of The Orchards at Mabelvale, a 51-unit affordable housing community located in Mabelvale. Dougherty's Minneapolis office arranged the 17-year loan.
Southeast
NEW ORLEANS AND BATON ROUGE, LA. — Atlanta-based real estate firm Songy HighRoads LLC has purchased seven office buildings in New Orleans and Baton Rouge for $52.7 million. The properties total nearly 520,000 square feet. The Baton Rouge properties include 2431 S. Acadian Thruway; Citiplace One & Two; Sherwood Oaks Office Park; Corporate Atrium; and Corporate Two. The last property is Latter Center West, located at 2800 Veterans Blvd. in Metairie, a northwest suburb of New Orleans. Jones Lang LaSalle's Houston office brokered the transaction.
NORTH MIAMI, FLA. — NorthMarq Capital has arranged $42 million in refinancing for Causeway Square, a three-building mixed-use development located at 1801 N.E. 123rd St. in North Miami, a suburb of Miami. The main building in the development is anchored by LA Fitness and features 86,873 square feet of office space and 73,124 square feet of retail space. The two outparcel properties are occupied by Total Bank and The Vitamin Shoppe. Robert Hernandez of NorthMarq Capital's Tampa, Fla., office arranged the two-year, interest-only loan through a national bridge lender.
DURHAM, N.C. — Skanska USA has been awarded a $33 million contract for the construction of a new 125,700-square-foot facility at the Duke Eye Center in Durham. Construction is underway on the property, located in the parking lot adjacent to the existing Wadsworth Building. Skanska USA expects to wrap up construction in the fall of 2015. The new property will expand Duke Eye Center's existing footprint with more space to receive and treat patients.
TALLAHASSEE, FLA. — Hunter Hotel Advisors and Harp Holdings have sold the 117-room Hotel Duval in Tallahassee to Schulte Hospitality Group for $23 million. Hunter and Harp purchased the hotel in 2007 and spent approximately $15 million restoring the hotel before reopening it in October 2009 as the Hotel Duval. The boutique hotel, built in 1951, recently jointed Marriott's Autograph Collection. The sellers were represented internally by Teague Hunter and Trey Scott of Hunter Hotel Advisors.
ATLANTA — Walker & Dunlop has arranged acquisition financing for a Class A, 123,000-square-foot office building in Atlanta's Cumberland/Galleria submarket. The property is currently 88 percent leased. Hagan Dick of Walker & Dunlop's Atlanta office arranged the non-recourse loan through a national bank on behalf of the borrowers, Brookwood Investment Group and Noro Management Inc.
NASHVILLE, TENN. — Miami-based Parmenter Realty Partners has sold Nashville City Center, a Class A, 27-story office building in downtown Nashville. The 482,407-square-foot tower houses tenants such as Waller Lansden and First Tennessee Bank. Prior to the sale, Parmenter renovated the lobby and floor common areas. Additionally, there is currently a 499-space underground parking garage under construction in close proximity to the office building.
PETERSBURG, VA. — Rendina Cos. has completed the new Southside Regional Medical Arts Pavilion, a two-story, 32,500-square-foot medical office building located in Petersburg. The new property is located on the campus of Southside Regional Medical Center, a Community Health Systems Hospital located at 200 Medical Park Blvd. The new property houses a cancer center, digital women's imaging center and general medical and obstetrical office space for physicians. The design team for the new facility includes Norfolk, Va.-based general contractor VIRTEXCO Corp. and Nashville, Tenn.-based architect Davis Stokes Collaborative.
TAMPA, FLA. — PinPoint Commercial LP and Thrive Senior Living have begun construction on The Legacy at Highwoods Preserve, a new assisted living and memory care facility in north Tampa. The 164-bed will feature telemedicine suites, oversized rooms, libraries, gaming areas, shops, beauty salons and multiple courtyards. PinPoint and Thrive's partnership with LG, a global technology corporation, will allow the facility to feature high-tech equipment to care for residents. The new facility is slated to wrap up construction in the fall of 2014.
BRADENTON, FLA. — CBRE has arranged the sale of a single-tenant, triple-net leased retail property located at 6521 State Road 64 in Bradenton. The buyer, Charlotte, N.C.-based Bayrock Investment Co., purchased the 1,816-square-foot property, which is leased to Starbucks Coffee, for approximately $1.9 million. CBRE's net lease property group represented the seller, HB Retail SR64, in the transaction.