DECATUR, ALA. — Cole Real Estate Investments has purchased Decatur Commons shopping center for $13.2 million. The property totals 125,211 square feet and is located at 1605 Beltline Road in Decatur. Its anchors include Publix, Petco and Goody’s. Occupancy was 86 percent at the time of closing. Drew Fleming and Mark Joines of Cassidy Turley represented the undisclosed seller in the deal.
PELL CITY, ALA. — Southpace Properties has brokered the sale of The Shoppes of Pell City for $3.2 million. The recently redeveloped shopping center totals 58,332 square feet. Its current tenant roster includes Goody’s, Badcock Furniture and Burke’s Outlet. Michael Randman and Anne Michaels of Southpace Properties represented the seller, Second Street LLC. Andrew Patterson of Shannon-Waltchack represented the buyer, SW Holdings II LLC.
CHESAPEAKE, VA. — Cushman & Wakefield | Thalhimer has arranged the sale of The Offices at Hanbury, a 22,098-square-foot office park located at 131 and 135 Hanbury Road in Chesapeake. Hanbury Road Partners LLC purchased the property from Hanbury LLC for $2.3 million. Christine Kaempfe of Cushman & Wakefield represented the seller in negotiations.
ATLANTA — Greg Ford has relaunched Helios Capital Partners, the boutique real estate investment banking firm he first founded in 2009. The Atlanta-based company will provide debt and joint venture equity financing for all commercial real estate classes to institutional, middle market and private clients across the Southeastern United States. In his career, Ford has been involved in real estate transactions valued in excess of $4 billion during his tenures wit JP Morgan, PricewaterhouseCoopers, Alvarez & Marsal, and Regions.
LAKELAND, FLA. — Franklin Street Real Estate Partners has brokered the sale of Woodlake Gardens, a 188-unit apartment community located at 1475 Woodlake Drive in Lakeland, for $7.2 million. Constructed in 1975, the property contains a mix of one- through three-bedroom units. The buyer, a local investor, plans to reposition the property in the near term. The Franklin Street team of Darron Kattan, Kevin Kelleher, Robert Goldfinger and Zach Ames represented the buyer as well as the seller, an out-of-state investor.
PANAMA CITY BEACH, FLA. — Forman Capital has funded a $26 million first mortgage for 280 units at the Shores of Panama, a 709-unit condominium community located in Panama City Beach. The undisclosed borrower plans to use the proceeds to refinance existing bridge debt. Terms of the deal were not disclosed.
GLEN ALLEN, VA. —Dougherty Mortgage has secured a $5.8 million loan for the refinance of The Atlantic at Twin Hickory Apartments, a 110-unit affordable housing property located in Glen Allen. The loan carries a 10-year term with 9.5 years of yield maintenance. Doughtery’s Austin Texas, office arranged the loan on behalf of the borrower, Twin Hickory Senior Associates LP.
ALEXANDRIA, VA. — Boston Capital is investing in the development of an affordable housing community in Alexandria. Old Town Commons Phase V will contain 40 two-bedroom units and 14 three-bedroom units in 10 three- and four-story buildings. All units will be EarthCraft certified. The project’s developers are EYA and the Alexandria Redevelopment & Housing Authority, who are working in partnership with the Virginia Housing Development Authority.
ST. PETERSBURG, FLA. — A joint venture between Tampa, Fla.-based Cardinal Point Management and Naples, Fla.-based Halstatt Real Estate Partners has purchased Echelon Pointe, a Class A office building located in St. Petersburg. The five-story building, which was constructed in 2007, contains 123,639 square feet of space and is situated on 5.1 acres within Carillon Park office park at 970 Lake Carillon Drive. The propertyalso includes a 359-space parking deck. Echelon Pointe was 98 percent leased at the time of the sale to tenants that include Paychex, Smith & Nephew, and Regus. The Holliday Fenoglio Fowler (HFF) team of Hermen Rodriguez, Ike Ojala and Jorge Portela represented the seller, an undisclosed institutional investor. HFF’s Chris Drew led the team that arranged joint venture equity with Halstatt for the property’s purchase.
ORLANDO — Rockwood Real Estate Advisors has brokered the sale of the Holiday Inn Orlando-University of Central Florida. Constructed in 1987, the 245-room hotel is located on 9 acres at the main gate of the University of Central Florida. The buyer was Alena Hospitality UCF LLC. Rockwood represented the undisclosed seller. The sale price was also not released.
