TAMPA, FLA. — Westmount Realty Capital LLC has purchased a 332,143-square-foot industrial portfolio in Tampa. The portfolio consists of six showroom and flex buildings on West Waters Avenue; two rear-load, dock-high buildings on Sunstate Street; and six front-load, dock-high distribution warehouses on Pioneer Park Boulevard. The portfolio is currently averaging 77 percent occupancy. Steve Kanoff of Westmount Realty Capital led the team on the acquisition. Cushman & Wakefield’s Tampa office represented the seller in the transaction. NorthMarq Capital’s Tampa office procured the debt on behalf of Westmount Realty Capital.
Southeast
OXFORD, MISS. — Capital Advisors has arranged $11.5 million in refinancing for University Trails, a 156-unit, 492-bed student housing community in Oxford. The Class A community serves students from the University of Mississippi. The property features a resort-style swimming pool, beach volleyball court, basketball courts, a game room, fitness center and media center. Cooper Willis of Capital Advisors arranged the seven-year loan with a 30-year amortization schedule on behalf of the borrower, TEXLA Oxford LLC. The loan, fixed at an interest rate of 4.62 percent, was arranged through Freddie Mac via Walker & Dunlop.
COCONUT CREEK, FLA. — Grandbridge Real Estate Capital has closed a $39.5 million fixed-rate acquisition loan for Hillsboro Bay Club Apartments in Coconut Creek, part of the Fort Lauderdale MSA. The 366-unit apartment community features a pool, fitness center and 20-acre recreational lake. Mike Ortlip of Grandbridge originated the loan through a life insurance company. Josh Davis of Grandbridge assisted in the transaction.
NORFOLK, VA. — NorthStar Real Estate Income II has originated a $39.2 million senior loan for a 225-unit, Class A apartment community in Norfolk. The property is located in Norfolk’s Ghent Historic District. The community features 14,800 square feet of ground-floor retail space. NorthStar originated the loan on behalf of the borrower, a multifamily owner and operator, with available cash and a $19.6 million advance on its secured term credit facility. An affiliate of the borrower manages the community.
CHARLOTTE, N.C. — Canyon Capital Realty Advisors LLC has provided a $12 million construction loan for Presidio, a 298-unit, Class A apartment community in Charlotte. The borrower, NRP Group LLC, will develop the community in Charlotte’s South End district at the intersection of South Church and West Morehead streets. The project will break ground in the first quarter of 2014 and deliver individual units in the fourth quarter of 2015.
WEST PALM BEACH, FLA. — A10 Capital has provided a $5 million acquisition loan for a mid-rise suburban office building in West Palm Beach. The 69,715-square-foot, Class B office building was 69 percent leased at the time of sale. Chuck Taylor of A10 Capital’s Atlanta office structured and closed the loan on behalf of the borrower, a local investor and office operator. Jason Hochman of CBRE arranged the debt placement. CBRE represented the seller in the transaction.
TAMPA, FLA. — The U.S. Green Building Council has awarded the Bank of America Plaza in Tampa LEED Gold certification. MetLife owns Bank of America Plaza, and CBRE’s Anne-Marie Ayers, Phil Weber and Erica Waltermire leases the building. CBRE’s on-site management team, which includes Julie Palmer-Nicholson, Lynn Vilmar and Doug Lawson, worked with the technical services team to garner energy savings and follow MetLife and CBRE’s commitment to sustainability.
NEWNAN, GA. — Batson-Cook Construction has begun construction on a new $48 million addition to the Cancer Treatment Centers of America (CTCA) at Southeastern Regional Medical Center in Newnan. The addition will include 121,000 square feet of new space and 30,000 square feet of remodeled space. Batson-Cook, which delivered Southeastern Regional Medical Center in 2012, will build CTCA’s addition in four phases: two vertical additions, the addition of 25 patient rooms and a penthouse and a four-story addition. A one-story surgery expansion is also underway at CTCA.
HOMEWOOD, ALA. — Hendricks-Berkadia has arranged the sales of the 150-unit Knoll Crest and the adjacent 127-unit Olympia Village, two apartment communities in Homewood. The total sales price was approximately $11.7 million. David Oakley of Hendricks-Berkadia represented the seller, Birmingham, Ala.-based Knoll Crest Partners LLC/Olympia Partners LLC, in the transaction. As part of the transaction, the buyer, New Jersey-based Knoll Crest Holding Co. LLC/Olympia Partners LLC, assumed two existing Fannie Mae loans totaling approximately $9.9 million. The buyer also plans to renovate both properties.
CHARLOTTE, N.C. — Trinity Partners has arranged the $11.1 million sale of the 200,000-square-foot Arrowridge Business Park in southwest Charlotte. The property features four flex buildings located at 8107, 8227, 8301 and 8041 Arrowridge Blvd. The property is currently 83 percent leased to tenants such as Hobart Corp., Bonsal American, Sears Home Improvement, CentiMark Corp. and Miller Electric Co. Dunn Mileham of Trinity Partners represented the seller, a Florida-based investor group, in the transaction. The buyer is Virginia-based Medalist Properties.