NASHVILLE, TENN. — Home2 Suites by Hilton has opened its newest hotel in Nashville. The five-story, 105-suite hotel is located at 832 Royal Parkway, one mile from Nashville International Airport. It features an indoor saltwater swimming pool, walking trails, a laundry and fitness area, and a convenience store. Pinnacle Nashville Airport GP owns the hotel, and Pinnacle Hospitality Partners manages it. The Home2 Suites by Hilton Nashville-Airport is the 19th U.S. location for the brand. Later this year, new Home2 Suites hotels will open in Querétaro, Mexico, and Edmonton, Canada. Future hotels are slated for the Houston, Atlanta, and Washington, D.C., markets.
MONTGOMERY, ALA. — Brown Realty Advisors has brokered the sale of a Montgomery multifamily community for $6.7 million. Hillwood Apartments is a Class B property constructed in 1982. It features 118 units that average 1,419 square feet each. Brown Realty completed the sale of the property in conjunction with Auction.com. Starwood Mortgage Capital provided acquisition financing on behalf of the undisclosed buyer, which plans to complete a $1 million capital improvements program for the property.
LOUISVILLE, KY. — A joint venture between Rosemont, Ill.-based First Hospitality Group and Louisville-based City Properties has announced plans to construct a new hotel in downtown Louisville. The new Hilton Garden Inn will be located in the Clay Commons District. It will feature 156 guestrooms over eight stories along with a rooftop bar and restaurant containing an open-air patio and meeting rooms. The hotel is scheduled to open in summer 2014.
COLUMBIA AND CHARLESTON, S.C. — Newmark Grubb Wilson Kibler (NGWK) has brokered the sale of two South Carolina office buildings leased to URS Corp. The first property totals 42,000 square feet and is located at 101 Research Drive in Columbia. The second property totals 16,000 square feet and is located at 4019 Salt Point Parkway in Charleston. NGWK’s Billy Way, Jeremy Wilson and H. Haskell Kibler represented the seller of both properties. Both parties’ names were undisclosed.
RICHMOND, VA. — Landmark Apartment Trust of America Inc. has acquired eight multifamily communities throughout the Southeast and Texas for a combined purchase price of approximately $169.3 million. Collectively, the properties contain 2,252 units and are 95 percent occupied. Five of the communities are located in Charlotte, Raleigh and Wake Forest, N.C. Two are located in Tampa and Jacksonville, Fla. The final property is located in Texas. The seller’s name was not released
ORLANDO — Bell Properties has acquired an institutional-quality apartment community located adjacent to Universal Studios in Orlando from Epoch Properties for $48.3 million. Landmark at Universal comprises 10 three-story buildings and a two-story carriage style building situated on 12 acres at 6350 Vineland Road. It contains 310 units and features a resort-style pool and spa, clubhouse, 24-hour fitness center, business center, game room, theater, club room and an outdoor grilling area. The Jones Lang LaSalle team of Jubeen Vaghefi, Jeff Morris and Denny St. Romain represented Epoch Properties in negotiations.
MAYODAN, N.C. — Firearms maker Sturm, Ruger & Co. has announced plans to build a new manufacturing facility in Mayodan, located approximately 50 miles north of the Triad area. Sturm, Ruger & Co. will finalize plans for the 220,000-square-foot facility in August. It currently operates manufacturing facilities in Newport, N.H., and Prescott, Ariz. The new plant represents the company’s first major expansion in more than 25 years.
WASHINGTON, D.C. — New York City-based Aria Development Group has completed a $10 million renovation of The Bond, an apartment building located at 1250 New Hampshire Ave. in the city’s West End neighborhood. Aria purchased the property in 2012 from the International Monetary Fund, which had been using it for corporate housing. Aria completed a gut renovation that provided brand new interiors for the building’s 83 units. Upgrades include European-style kitchens, three-inch natural white oak floors, Bosch washers and dryers, and all new systems including video intercoms and Nest programmable thermostats. The building’s front yard and courtyard were also landscaped. Aria will soon install a cast iron canopy on the building exterior. The Bond was developed by Aria in partnership with New York-based Manocherian Brothers. Monarc Construction was the general contractor, and Bonstra Haresign Architects designed the project.
JEKYLL ISLAND, GA. — The new Westin Hotel under development on the beachfront of Jekyll Island has received $25 million in construction financing. PNC Bank provided $10 million in conventional financing for the project. In addition, the U.S. Department of Agriculture provided $15 million in Rural Development loans for the project. The 200-room, convention-class hotel is slated to open in September 2014. Atlanta-based Davis, Pickren, Seydel and Sneed represented PNC Bank in the deal.
BLYTHEWOOD, S.C. — Colliers International has arranged the sale of the former Lamson & Sessions building located at 1091 Carolina Pines Drive in Blythewood. Vacant since 2011, the 350,000-square-foot building was purchased by Intertape Polymer Group, which plans to relocate and expand its Columbia operations into the Class A property. Chuck Salley and Dave Mathews of Colliers represented the seller, PCO Carolina Pines LP. The purchase price was not disclosed.