Southeast

GATEWAY CENTRE SECURES $33.5M CONSTRUCTION LOAN

by admin April 30, 2013

PINELLAS PARK, FLA. — Capital Advisors has arranged $33.5 million in construction financing for The Spa and Residences at Gateway Centre, a 320-unit, Class A apartment complex, located at 3115 Grand Ave. in Pinellas Park. Cooper Willis of Capital Advisors arranged the mini-perm loan on behalf of the borrower, Gateway Centre LLC, through a regional bank. The seven-year loan includes 36 months of interest-only payments and a 30-year amortization schedule. The Spa and Residences at Gateway Centre will be constructed on a 39-acre site.

April 30, 2013

LYONS TO EXPAND IN NORTHERN KENTUCKY

by admin April 30, 2013

FRANKFORT, KY. — Lyons Magnus Inc. plans to expand operations in Frankfort, adding 50 jobs and investing $5 million in the project. The company, which develops and markets products in the food service industry, plans to purchase land to build a new facility for food processing, warehousing space and shipping. The Kentucky Economic Development Finance Authority has approved the company for tax incentives up to $400,000. The news follows other major project announcements in Kentucky. Last week, Southern Air said it would move its global headquarters to Northern Kentucky, adding 150 jobs in Florence. ZoomEssence announced that it plans to invest $3 million in a research and development location in Hebron, and Baluff Inc. has broken ground on the company's new U.S. headquarters in Independence.

April 30, 2013

Hospitality Southeast

109-ROOM HOTEL SELLS FOR $5.8M IN OCALA

by admin April 30, 2013

OCALA, FLA. — A 109-room Hampton Inn & Suites in Ocala has sold to a limited liability company from Michigan for $5.8 million, or $53,211 per room. The hotel is located directly off I-75 on Highway 484, just minutes from Ocala's Florida Horse Park. Ahmed Kabani and Jonathan Gerszberg of Marcus & Millichap represented the seller, a Miami bank, in the transaction. David Greenberg of Marcus & Millichap represented the seller.

April 30, 2013

Office Southeast

MEDICAL TRAINING SCHOOL TAKES SPACE IN ATLANTA

by admin April 30, 2013

ATLANTA — Medtech College has signed an 11-year lease for 16,000 square feet at 2800 Century Parkway in Atlanta, part of the Century Center office park. Medtech, a medical training school with locations in the Southeast and Midwest, currently has two Atlanta-area campuses. The space was previously occupied by AT&T before its recent consolidation. Dale Lewis of Cassidy Turley represented Medtech in the relocation of its Tucker campus to Century Center. Medtech can now provide training programs to the entire northeast Atlanta area. Jim Legg of Highwood Properties represented the landlord.

April 30, 2013

Healthcare Southeast

BERKADIA ARRANGES $59.8M IN FINANCING

by admin April 29, 2013

LITTLE ROCK, ARK. — Berkadia Commercial Mortgage has arranged $59.8 million for the refinancing of a portfolio of 12 skilled nursing facilities throughout Arkansas. Jay Healy worked with the borrower, Omega Healthcare Investors Inc., to secure the loan through the U.S. Department of Housing and Urban Development's HUD 232/223(a)(7) program. Omega acquired the assets in December 2011 and assumed HUD debt through a transfer of physical assets. The portfolio, totaling 1,400 beds, includes two facilities outside of Little Rock: Premier Health and Rehabilitation in North Little Rock and Canyon Springs Health & Rehabilitation in Hot Springs.

April 29, 2013

Multifamily Southeast

ALABAMA APT. COMMUNITY TRADES FOR $8.5M

by admin April 29, 2013

HOOVER, ALA. — RRE Autumn Wood Holdings has acquired Autumn Wood Apartments, a 206-unit apartment community in Hoover, for $8.5 million. Built in 1986, the 180,400-square-foot property includes one- and two-bedroom units. David Oakley of Hendricks-Berkadia represented the buyer in the transaction. Tom Hinton of Hinton Investments represented the seller, 1000 Autumnwood LLC.

April 29, 2013

Southeast

ROAR SECURES $17M REFINANCING LOAN

by admin April 29, 2013

TUSCALOOSA, ALA. — Beech Street Capital has arranged a $17 million Fannie Mae loan for the refinancing of College Station Portfolio, a 264-unit property owned by ROAR LLC in Tuscaloosa. Chad Thomas Hagwood of Beech Street originated the 10-year loan, which features a 30-year amortization schedule. The apartment community is located near the University of Alabama, and the properties typically operate at 99 percent occupancy. The interest rate on the loan was just over 4 percent.

April 29, 2013

Southeast

COMPASS BUYS FOURTH SELF STORAGE PROPERTY IN ATLANTA AREA

by admin April 29, 2013

CONYERS, GA. — Compass Self Storage LLC has acquired a self storage property at 1602 Lakefield Drive S.E. in Conyers. Compass will operate the property, which includes 87,325 square feet. JL Mack III with McWhirter Realty LLC represented the buyer in the transaction. The facility includes drive-up access, individually alarmed units, outdoor storage and truck rental. The transaction marks the fourth self storage property acquired by Compass in greater Atlanta. The company acquired a three-property portfolio in Atlanta in January.

April 29, 2013

Office Southeast

CAROLINA CENTER FOR ABA AND AUTISM TREATMENT SIGNS NEW LEASE

by admin April 29, 2013

CARY, N.C. — Carolina Center for ABA and Autism Treatment has signed an 11,583-square-foot lease to fully occupy a building located at 111 MacKenan Drive in Cary's MacGregor Office Park. The company will double the size of its previous space. The Carolina Center for ABA and Autism Treatment offers locations in Cary, Charlotte and Fayettville, N.C., and provides in-home and clinic-based services for children with autism. The organization's Cary location includes a mock classroom clinic for customers interested in the design and structure found in a school-based classroom. Deborah Boucher of Cassidy Turley represented the tenant in the transaction.

April 29, 2013

Multifamily Southeast

MORGAN GROUP BREAKS GROUND ON APT. PROJECT IN FLAGLER VILLAGE

by admin April 26, 2013

FORT LAUDERDALE, FLA. — The Morgan Group has broken ground on a 331-unit mid-rise apartment development in Flagler Village in Fort Lauderdale. Morgan acquired the site, which is located just north of the Las Olas River, in December 2012. The first move-ins are projected for summer 2014. The project marks the company's return to South Florida and its first development in Broward County. “We were very active in the area until the late 1990s and are looking forward to growing our presence here once again,” says Mike Morgan, CEO and chairman of The Morgan Group. “The area is ripe for residential units and amenities that are designed specifically with urban professionals in mind.”

April 26, 2013

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