BELTSVILLE, MD. — Los Angeles-based Laurus Corp. has acquired the Sheraton Washington North Hotel from The Carlyle Group. The nine-story property contains 207 rooms and is located at 4095 Powder Mill Road in the Washington, D.C., suburb of Beltsville. The hotel features 5,410 square feet of meeting space, a 60-seat restaurant, a lounge and a recently renovated fitness center. Savills Hospitality Group represented Carlyle in the transaction.
ARLINGTON, VA. — Jones Lang LaSalle (JLL) has secured $112 million in non-recourse financing for Lincoln Place, a 503-776-square-foot office property located in Arlington’s Pentagon City submarket. Lincoln Place comprises two 12-story buildings located at 600 and 700 Army Navy Dr. that are wholly leased to the Drug Enforcement Agency through 2018. JLL’s Wes Boatwright, Mike Yavinsky and Jon Goldstein arranged the loan, which carries a 10-year term and a floating rate. The lender is SunTrust Banks, and the borrower is California State Teachers’ Retirement System.
OWENSBORO, KY. — The new Owensboro Health Regional Hospital has opened its doors. The 780,000-square-foot hospital sits on 162 acres on Owensboro’s east side at 1201 Pleasant Valley Road. The hospital features a nine-story patient tower and a three-story diagnostic and testing building that houses the emergency department, maternity services, surgery and supporting areas. The hospital features patient rooms one-third larger than the hospital it replaces as well as nurse work areas outside each patient room. The construction team included project manager KLMK Group, architect HGA and construction manager Turner Construction.
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.