TAMPA, FLA. — Institutional Property Advisors (IPA) has arranged the $32 million sale of Bristol Place Apartments of Tampa Palms, a 340-unit apartment community located at 15210 Amberly Drive in Tampa. The property is part of the master-planned Tampa Palms, a 5,400-acre community featuring apartments, single-family homes, restaurants, churches, offices, recreational facilities, schools and shops. Bristol Place features a resort-style pool, gazebo-covered spa, gas grilling area, separate lap pool, tennis court, car wash area, playground, clubhouse, fitness center and indoor racquetball court. Each unit features a built-in entertainment center, Roman-style soaker tubs, washer/dryer, glass showers, French doors, private balcony/patio and a security monitoring system. Jamie May of IPA represented the seller, AVR Realty Co., in the transaction. Preston Giuliano Capital Partners was the buyer.
IRVINE, CALIF. — Cornerstone Core Properties REIT has acquired three assisted living facilities in North Carolina for approximately $15.3 million. The three facilities include the 64-bed Carteret House in Newport, the 60-bed Hamlet House in Hamlet and the 64-bed Shelby House in Shelby. Cornerstone purchased the facilities through a sale-leaseback transaction with wholly owned subsidiaries of Meridian Senior Living LLC, which will continue to operate the facilities.
WASHINGTON, D.C. — Washington, D.C.-based Greysteel has arranged the sale of 1101 Rhode Island Ave. N.W. and 1528-1530 11th St. N.W., two commercially zoned land parcels in Washington, D.C.’s Logan Circle neighborhood. Condominium properties in the area have been selling for more than $800 per square foot, according to Greysteel. Nearby developments include O Street Market and CityCenterDC. Ari Firoozabadi, John Mullen, Kyle Tangney, Lance Ahmadian, Caleb Brown and Mike Bediones of Greysteel represented Q Street LP in the sale of the parcels to CAS Riegler Cos. LLC.
CENTREVILLE, VA. — Lotte Plaza International Grocer has leased approximately 47,000 square feet at Centreville Square II, a 200,366-square-foot neighborhood center located in Centreville. Centreville Square II is located at the intersection of Centrewood Drive and Lee Highway and is tenanted by Party Depot, Sleepy’s Mattress Professionals, Five Guys Burgers and Fries, Wells Fargo, Hair Cuttery and the UPS Store. The new grocery store will offer fresh produce, hard-to-find international food brands, a meat shop and a food court with Japanese, Korean and Chinese eateries. Lotte Plaza is slated to open in spring 2014.
ATLANTA — HFF has arranged the sale of Virginia Highlands, a 270-unit apartment community located at 609 Virginia Ave. in Atlanta’s Virginia Highland district. TA Associates Realty purchased the apartment community for $41 million free and clear of debt. The apartment community has frontage along Atlanta’s Beltline and is close proximity to Piedmont Park and the upcoming Ponce City Market retail development. Jason Nettles and Megan Thompson of HFF represented the seller, Fairfield Residential, in the transaction.
ATLANTA — Atlanta-based RCG Ventures has purchased three shopping centers in North Carolina and Mississippi. The properties include Willowdaile Shopping Center in Durham, N.C., Forest Hills Centre in Wilson, N.C., and Greenville South in Greenville, Miss. Willowdaile Shopping Center is a 93,217-square-foot center located at the corner of Guess and Horton roads. Its tenants include Ollie’s Bargain Outlet, Dollar Tree and Starbucks Coffee. CBRE’s Charlotte office represented the seller, a public REIT, in the transaction. Forest Hills Centre is a 73,102-square-foot center anchored by Big Lots and Rent-A-Center. CBRE’s Charlotte office also represented the seller, a public REIT, in this transaction. Greenville South is a 125,211-square-foot shopping center just south of Highway 82. Kroger anchors the center. RCG Ventures purchased the center directly from the lender, which had previously foreclosed on the asset.
CHAPEL HILL, N.C. — NorthMarq Capital has arranged $28.9 million in acquisition financing for Foxcroft Apartments, a 248-unit community located at 545 Ashley Court in Chapel Hill. Brett Mason of NorthMarq Capital’s Raleigh, N.C., office arranged the three-year, interest-only loan through Latitude Management Real Estate Investors on behalf of the borrower, Eller Capital Partners.
JACKSON, MISS. — Meridian Capital Group LLC has arranged $13.5 million in acquisition financing for The Park at Moss Creek Apartments, located at 5000 Ridgewood Road in Jackson. Noam Kaminetzky of Meridian Capital Group’s Boca Raton, Fla., office arranged the seven-year loan fixed at a 4.55 percent interest rate. An agency lender provided the loan.
WASHINGTON, D.C. — Marcus & Millichap has arranged the sale of The Gibson building, a 2,780-square-foot retail property located at 2009 14th St. N.W. in Washington, D.C. The property sold for nearly $2 million. The Gibson, a speakeasy style bar, is the sole tenant of the property. Josh Feldman and Nathan Pealer of Marcus & Millichap’s Washington, D.C., office represented the seller, a private investor, in the transaction. Feldman and Pealer also secured and represented the buyer, 2009 Bond St Equities LLC.
NASHVILLE, TENN. — The Connor Group has entered the Nashville market with the $60.5 million purchase of Ashton Brook, a 390-unit, Class A apartment community located in the Cool Springs submarket of Franklin, a suburb of Nashville. The acquisition has the second highest purchase price in The Connor Group’s history. The gated apartment community features resort-style pools, a fitness center, tennis courts, a pet park and garages. The Connor Group purchased Ashton Brook from Alara Franklin Corp.