PLANTATION, FLA. — Brookwood Financial Partners LLC, a Massachusetts-based real estate investment and asset management firm, has acquired Lakeside Office Center in Plantation. The Class A, 134,443-square-foot office building was constructed in 1986 and renovated in 2006. The property is located eight miles from downtown Fort Lauderdale and has 33,000 square feet available for lease. Brookwood plans to renovate the lobby, building entrance and common areas. CBRE represented the seller in the transaction, and Brookwood was self-represented.
STOCKBRIDGE, GA. — Franklin Street Real Estate Services has arranged the $1.9 million sale of Plaza at Eagles Landing, an 18,000-square-foot retail strip center located at 1058 Eagles Landing Parkway in Stockbridge. The property's tenant roster includes Starbucks, Randstad, Preston's Salon, Minky Bling and Sarah's Country Kitchen. Mac McCall of Franklin Street represented the seller, an Atlanta-based investment firm, in the transaction. The buyer is a private investor based in Spain. The buyer plans to continue to operate the center with retail and office tenants, while also attempting to lease up the remaining vacancies.
ATLANTA — Lincoln Southeast LLC, a subsidiary of Dallas-based Lincoln Property Co. Southeast, has been named the court-appointed receiver for Buckhead West, a 110,000-square-foot office complex located near the intersection of Interstate 75 and Howell Mill Road in Atlanta. Buckhead West is suited to tech tenants and creative firms, and has recently become home for movie and television production companies. The complex is within walking distance of the Howell Mill Village retail center adjacent to Post's Collier Hill apartments. The property has already received interest from various groups for either loft office, medical office and multifamily potential.
ORLANDO, FLA. — CBRE Capital Markets has arranged acquisition financing for Northgate Lakes, a 710-bed student housing community located adjacent to the University of Central Florida in Orlando. Steve Roth and Ben Roelke of CBRE Capital Markets arranged the loan through a life insurance company on behalf of the borrower, Campus 150 Venture LLC, a joint venture between principals of Campus Advantage and a state pension fund. CBRE also arranged acquisition financing for VUE on University in Fort Worth, Texas, and refinancing for Zaragon Place in Ann Arbor, Mich. The three loans totaled more than $64.6 million.
CHARLOTTE AND CARY, N.C. — Peak Capital Partners, a Utah-based multifamily investment company, has purchased two multifamily communities in North Carolina in two separate transactions. The firm purchased The Links at Citiside, a 274-unit complex located at 5005 Community Circle in Charlotte, and Oxford Square, a 184-unit property located at 1000 Village Greenway in Cary. Peak Capital Partners has also made capital improvements to each community, including new landscaping, refinished parking lots, exterior improvements and renovated clubhouses. The company owns and manages more than 6,000 multifamily units in eight states.
MORRISVILLE, N.C. — Cushman & Wakefield | Thalhimer has arranged the $9.2 million sale of the Research Triangle Industrial Center, a three-building industrial park totaling 153,629 square feet in Morrisville. The property is located at the intersection of Highway 54 and Airport Boulevard in the heart of Raleigh-Durham's top industrial submarket. Peter Lawrence Co. purchased the 93 percent leased property. Chris Norvell and Scot Humphrey of Cushman & Wakefield | Thalhimer's capital markets group represented the seller, Cambridge Hanover.
RIDGELAND, MISS. — Hilton Worldwide has opened its 21st U.S. Home2 Suites by Hilton hotel, which is designed for business travelers and extended-stay guests. Home2 Suites by Hilton Jackson/Ridgeland is the second Home2 Suites hotel in Mississippi. The four-story, 92-suite hotel is located at 526 Evergreen St. in Ridgeland. New Vision Ridgeland Hotel LLC owns the property, and New Vision Hotel Management is the hotel's manager. The hotel's amenity package includes a fitness center, laundry facility, continental breakfast station, lobby, saline pool, patio with gas grills and a fire pit.
ATLANTA — RLJ Lodging Trust, a publicly traded hospitality REIT, has acquired the 78-room Residence Inn Atlanta Midtown Historic in Atlanta's Midtown submarket. RLJ Lodging, which bought a mortgage loan collateralized by the hotel in 2009 for $5 million, purchased the hotel through a foreclosure sale after the borrower defaulted on the loan earlier this year. The hotel will be closed later this year to undergo a comprehensive renovation that will include upgrades to the guest rooms and public spaces. The hotel will reopen in the third quarter of 2013 under the Residence Inn by Marriott flag.
GERMANTOWN, MD. — NorthMarq Capital has arranged $3.3 million in first mortgage refinancing for Churchill Business Center, a 39,917-square-foot industrial facility located at 13210-13220 Wisteria Drive in Germantown. The property is fully leased to tenants such as Selvadurai Palanivelu, Autobody Connection and Sherwin Williams. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 25-year loan with a 20-year amortization schedule.
DADE CITY AND FORT MYERS, FLA. — Ackerman & Co., an Atlanta-based commercial real estate brokerage, management, development and investment firm, has sold two net-leased CVS/pharmacy stores in Florida for nearly $14 million. Ackerman & Co. sold a CVS/pharmacy in Dade City for $5.7 million to a 1031 tax-deferred exchange buyer in an all-cash transaction. Patrick Whitney of Marcus & Millichap's Dallas office represented the buyer in the transaction. Ackerman & Co. also sold a CVS/pharmacy in Fort Myers to an affiliate of New Jersey-based Roebling Investment Co. for $8.2 million. The transaction included the buyer's assumption of the current CMBS loan. Ray Yung of Calhoun Cos. represented the buyer in the transaction.