WOODBRIDGE, VA. — Meridian Capital Group has arranged $49.5 million in acquisition financing for a Woodbridge multifamily community. Misty Ridge contains 409 units and is located at 1989 Delaware Dr. Barry Lefkowitz of Meridian’s Iselin, N.J., office negotiated the loan, which carries a fixed interest rate of 3.49 percent and a 7-year term. The lender was Freddie Mac. The borrower was Castle Lanterra Properties.
MOBILE, ALA. — Lakestar Properties has acquired a Mobile power center from a joint venture led by Kimco Realty Corp. Mobile Festival Centre is a 380,19-square-foot retail property located near Interstate 65 at 3725 Airport Blvd. Its tenant roster includes Academy Sports + Outdoors, Bed Bath & Beyond, h.h. gregg, Jo-Ann Fabric & Craft Store, Ross Dress for Less, and Virginia College. The Home Depot shadow anchors it. Richard Reid and Jim Hamilton of Holliday Fenoglio Fowler represented the seller. The purchase price was not released.
LADY LAKE, FLA. — The Orlando office of Apartment Realty Advisors (ARA) has brokered the sale of Courtney Villages in Lady Lake for $30.25 million. Courtney Villages is a resort-style garden apartment community containing 356 units. It was 96 percent occupied at the time of closing. The property is located within The Villages, a 26,000-acre master-planned community containing retail, office, hotel and senior living space. The community has 2.7 million square feet of development planned. ARA’s Kevin Judd, Patrick Dufour and Matt Wilcox represented the seller, Orlando-based Contravest. The buyer was Jacksonville, Fla.-based GMC Property Management.
GREENSBORO, N.C. — NAI Earle Furman has completed the sale of a Greensboro multifamily community for approximately $7 million. Hunters Glen Apartments is a 260-unit, Class C apartment property. NAI’s Tony Bonitati and Kay Hill represented the seller, Shannon Enterprises of the Southeast, in the off-market transaction. John Gray, also of NAI, represented the undisclosed buyer.
FAYETTEVILLE, N.C. — Berkeley Capital Advisors has brokered the sale of a 5,250-square-foot retail property in Fayetteville that is net-leased to USAA. The property traded for $2.4 million. Berkeley’s Steve Horvath and Jay Levell represented the seller, a South Carolina-based developer. The buyer was a private REIT.
GREENVILLE AND NORTH CHARLESTON, S.C. — Q10 | Professional Mortgage Co. has arranged two commercial loans totaling $16.5 million. Q10’s Bryan Thomason secured $8.5 million in fixed-rate construction financing for 98 East McBee Apartments, a 55-unit, Class multifamily project currently under way in Greenville’s central business district. Thomason also arranged an $8 million, fixed-rate, permanent loan for McCall Center, a 57,977-square-foot shopping center located in North Charleston. Terms of both loans were not disclosed.
ATLANTA AND ORLANDO — Jones Lang LaSalle (JLL) has brokered the sale of two Hilton Garden Inn properties located in Atlanta and Orlando. The first property is an eight-story, 193-room hotel located in Atlanta’s Perimeter submarket. It was constructed in 1999 and received $2.3 million in capital improvements in 2012. The hotel features six meeting rooms, an indoor swimming pool, a fitness center, a business center, a Great American Grill & Bar restaurant, and the Branch Water Lounge. The second property is an eight-story, 224-room hotel in Orlando that is the official on-site hotel for SeaWorld. Constructed in 2001, the property features seven meeting rooms, an outdoor swimming pool, a fitness center, a business center, a Great American Grill restaurant and Sting Ray’s Lounge. The JLL team of Mark Fair, Adam McGaughy and Katy Reynolds represented the sellers, Apollo Global Management and Sage Hospitality. The buyer was Blackstone. The two hotels were part of a four-property Hilton Garden Inn portfolio sale; the other two properties are located in Denver and San Francisco.
FT. LAUDERDALE, FLA. — CB Richard Ellis (CBRE) has arranged $34.7 million for two hotels located adjacent to Ft. Lauderdale-Hollywood International Airport. The first property is a 157-room Fairfield Inn & Suites, and the second property is a 124-room Homewood Suites. Both hotels feature swimming pools, fitness centers and business centers. Jonathan Rice of CBRE Hotels and David Borge of CBRE Capital Markets arranged the financing on behalf of Economos Properties. Terms of the loan were not disclosed.
CONYERS, GA. — Ackerman & Co. has brokered the sale of a net-leased CVS/pharmacy in Conyers for $1.9 million. The 9,504-square-foot property is located across from Rockdale Medical Center. It was constructed for Eckerd Drugs in 1996, and CVS assumed the lease in 2009. Jason Powell of Ackerman arranged the all-cash deal between the buyer, Florida-based LJL Holdings, and the seller, a private entity based in New Jersey.
DEERFIELD, BEACH, FLA. — Walmart has opened its newest Neighborhood Market in Deerfield Beach. The approximately 57,000-square-foot store is located at 1101 S. Military Trail. The new store has tailored its products to the surrounding community with an extensive selection of kosher products. It also features a self-serve deli and a bakery. First launched in 1998, Walmart Neighborhood Market is a grocery store concept built on approximately one-quarter the footprint of a Walmart Supercenter. Neighborhood Markets focus on providing food products and household items to the surrounding community.
