AUSTELL, GA. — Duke Realty Corp. has acquired the 569,674-square-foot Hartman Business Center V, a warehouse and distribution building located at 7545 Hartman Industrial Way SW in Austell. The property is located within the 150-acre Hartman Business Park, a master-planned development. The property is fully leased to Czarnowski. Chris Riley, Frank Fallon and Brian Budnick of CBRE Group represented Opus Group, the seller, in the transaction.
Southeast
WEST PALM BEACH, FLA. — Beech Street Capital has provided $20.4 million in Freddie Mac Capital Markets Execution loans for the acquisition of the 166-unit Golf Villas at Sabal Palm and the 276-unit Palo Verde, two multifamily properties located in West Palm Beach. David Hayum of Meridian Capital Group secured the 10-year loans with a 30-year amortization schedule, which Beech Street Capital financed as part of its correspondent relationship with Meridian.
WASHINGTON, D.C. — First Potomac Realty Trust has sold its 95 percent interest in an 85,000-square-foot office building, located at 1200 17th St. in Washington, D.C., for $43.7 million. The company acquired the interest in 2011 for $37.6 million in a joint venture with Akridge, which will continue to own its portion of the building.
NASHVILLE, TENN. — North American Properties has started construction on the $34 million, 200-unit ParkCentral, a multifamily property located at 220 25th Ave. in Nashville. Amenities will include a rooftop deck with a saltwater swimming pool, resort-style clubroom and an upscale fitness center. NilesBolton Associates is the project architect, Barge Waggoner Sumer & Cannon is the engineer and NAP is the construction manager and developer.
ORLANDO, FLA. — CBRE Group has negotiated the sale of the 394-unit Legends at Lake Nona, a multifamily community located at 10203 Falcon Parc Blvd. in Orlando. Amenities include a resort-style pool, lighted tennis courts, basketball court, outdoor grills and fitness and business centers. Shelton Granade and Luke Wickham of CBRE Group's Orlando office represented the seller in the transaction.
HIALEAH, FLA. — Marcus & Millichap has arranged the $8.1 million sale of the 109-unit Okeechobee Villas, an apartment complex located at 1350 W. 6th Ave. in Hialeah. The property is 97 percent leased. Joseph Thomas and Felipe Echarte of Marcus & Millichap represented the seller, a Miami Lakes, Fla.-based limited liability company, in the transaction. Evan Kristol and Still Hunter III, also of Marcus & Millichap, represented the buyer, a Miami-based limited liability company.
ASHEVILLE, N.C. — Starwood Hotels & Resorts has opened the 115-room Aloft Asheville Downtown, located at 51 Biltmore Ave. in Asheville. The property features 1,800 square feet of outdoor meeting space on its Air Level pool deck and The Ledge observation deck, as well as 649 square feet of indoor meeting space. It is the 60th hotel globally for Starwood.
ORLANDO, FLA. — Charles Perry Partners has completed a $21.7 million, 82,280-square-foot classroom at Valencia College at Lake Nona in Orlando. The property is the first building for the new satellite campus. SchenkelShultz Architecture designed the three-story building, which includes academic spaces, teaching laboratories, student services, a book store, library, cafe, Dean's suite and administrative offices.
ELGIN, S.C. — KT Spears Creek has sold the 240-unit Greenhill Parish Crossing, located at 10682 Two Notch Road in Elgin, to Legacy Sandhill Apartments LLC, for $19.5 million. The Class A community, which is 96 percent occupied, was built in 2009 by the seller. A 13-acre undeveloped Phase II parcel was also included in the sale and has been approved for an additional 240 units. Woody Moore, Ron Cameron and Will Mathews of Colliers International represented the seller in the transaction.
JACKSONVILLE, S.C. — Marcus & Millichap has arranged the $19 million sale of the 185-unit Brighton Bay, an independent living community located at 10061 Sweetwater Parkway in Jacksonville. Michael Pardoll of Marcus & Millichap represented Wells Fargo & Co., the seller, in the transaction. The Carlyle Group was the buyer.