CHARLOTTE, N.C. — NorthMarq Capital has arranged $10 million in first mortgage refinancing for Somerstone Apartments, a 360-unit, market-rate multifamily community located in Charlotte. Kevin Jenkins of NorthMarq Capital's Charlotte office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac on behalf of the borrower, Somerstone LLC.
ALEXANDRIA, VA. — The Bozzuto Group, a Greenbelt, Md.-based real estate services company, and MGL Partners, a Denver-based development firm, have broken ground on The Frasier, a $75 million apartment community in Alexandria. The 249-unit development will be located across the Potomac River from Washington, D.C. Bank of America and RBS Citizens provided construction financing, and The Bozzuto Group and MGL Partners provided equity. Bozzuto Construction Co. commenced construction on the development, which is slated for completion in spring 2015. The transit-oriented community will be located within walking distance of the Potomac Yard Metro Station, which is expected to open in 2016 or 2017. The Frasier's amenities will include an outdoor kitchen, lounge area with a fire pit and waterfall, a swimming pool, 2,200-square-foot fitness center, game room and library.
LAKELAND, FLA. — Lakeland-based Publix Super Markets Inc. has entered into an agreement with Bi-Lo Holdings LLC, parent company of the BI-LO and Winn-Dixie grocery store chains, to purchase seven BI-LO stores in North and South Carolina. The seven stores include 8120 S. Tryon St. in Charlotte, N.C.; 12810 York Road in Charlotte; 9815 Rose Commons Drive in Huntersville, N.C.; 158 Highway 274 in Lake Wylie, S.C.; 3110 Fincher Farm Road in Matthews, N.C.; 1735 Heckle Blvd. in Rock Hill, S.C.; and 2186 Cherry Road in Rock Hill. Grand opening dates for the locations will depend on the scope of the remodels, according to Publix.
ATLANTA — Washington, D.C.-based StoneBridge Investments has acquired Spalding Crossing, a 252-unit luxury apartment community located between Atlanta's Sandy Springs and Dunwoody neighborhoods. The community is also located within Atlanta's Central Perimeter office submarket. An offshore investment group and a Netherlands-based affiliate of StoneBridge provided equity for the purchase. Additionally, SunTrust Bank N.A. provided a $24.3 million acquisition loan. StoneBridge will soon begin a $2.7 million upgrade to the community. StoneBridge has retained ZRS Management LLC to provide property management services.
LOUISVILLE, KY. — A joint venture between Brennan Investment Group and TriGate Capital has acquired Tradeport I, a 212,500-square-foot, Class A distribution facility. The property is located at 9001 Cane Run Road in Louisville's Riverport submarket. Kevin Grove of CBRE Louisville represented the seller, Principal Real Estate Investors, in the transaction. The acquisition is TriGate Capital's second investment with Brennan and its first acquisition in Louisville.
ATLANTA — Atlanta-based Fairlead Commercial Real Estate LLC and The Creations Group have acquired 34 Peachtree, a 30-story office tower located in downtown Atlanta. The buyers purchased the mortgage note for nearly $11.9 million, or $39 per square foot, in partnership with private investors based in Asia. The prior ownership had paid approximately $28.3 million for the property in 2005. The 282,589-square-foot office tower, which is currently 66 percent leased, went into foreclosure on Sept. 3. Fairlead acted on behalf of its ownership entity, One Park Tower LLC, in the all-cash transaction. Cushman & Wakefield represented special servicer Midland Loan Services in the note sale. Fairlead will handle leasing and property management services at 34 Peachtree.
ATLANTA — HFF has arranged $114 million in non-recourse financing for Promenade, a 775,089-square-foot, Class A office tower located in Atlanta's Midtown submarket along Peachtree Street. The property, built in 1990 as a build-to-suit for AT&T, is adjacent to The Four Seasons, Colony Square and the High Museum. The office tower is currently 87 percent leased. Mark Sixour and Bill Ireland of HFF arranged the nine-year, fixed-rate loan through Northwestern Mutual on behalf of the borrower, Atlanta-based Cousins Properties Inc.
ACWORTH, GA. — Colliers International has arranged the sale of Acworth Crossing and Acworth Avenue Shops in Acworth, a northwest suburb of Atlanta. Acworth Crossing sold for $12.5 million and Acworth Avenue Shops for $3.6 million. Acworth Crossing, a 118,829-square-foot center located at 3335 Cobb Parkway N.W., is 83 percent leased to tenants Best Buy, Michaels, PetSmart and Dollar Tree. Acworth Avenue Shops, a 16,130-square-foot, unanchored retail strip center, is fully leased to national and local tenants. Joseph Montgomery and Tony D'Ambrosio of Colliers International represented the sellers in the transactions. A CMBS bondholder was the seller of Acworth Crossing and a national shopping center owner was the seller of Acworth Avenue Shops.
NAPLES, FLA. — Stevens Construction has been selected as the construction manager for Landmark Hospital of Southwest Florida, a 50-bed, acute-care facility located on Goodlette-Frank Road in Naples. The three-story, 86,676-square-foot hospital will specialize in wound care, low-tolerance rehabilitation, mechanical ventilation and treatments. The first floor of the hospital will be shell space available for lease; the second floor will accommodate operating rooms, conference rooms, CT scans and administrative offices; and the third floor will feature a 10-bed ICU, 10-bed progressive care unit and 30 medical and surgical beds. Construction is slated to begin in early 2014. HuntonBrady Architects designed the new hospital.
MIDDLE RIVER, MD. — Washington, D.C.-based Greysteel has arranged the sale of Miramar Plaza Shopping Center, a 37,000-square-foot, unanchored retail center located at 901-915 Middle River Road in Middle River, about 12 miles outside Baltimore. Gil Neuman of Greysteel represented the seller, Vanguard Equities, and procured the buyer, Aasan Investment LLC, in the transaction. The property is currently 92 percent leased.