GREENVILLE, S.C. — Marcus & Millichap has arranged the $3.2 million sale of the 156-unit Carolina Crossing, an apartment complex located at 702 Edwards Road in Greenville. Amenities include a swimming pool with sun deck, newly renovated laundry facilities, car wash area and a courtyard. Mark Boyce and Deme Mekras of Marcus & Millichap represented the seller in the transaction and Boyce represented the buyer.
Southeast
CHARLOTTE, N.C. — CKE Restaurants, owner of the Hardee's brand, has sold a 3,700-square-foot Hardee's, located at 5024 Sunset Road in Charlotte, for $1.32 million. Rick Fernandez and Betty Friant of Calkain Cos. represented the 1031-exchance buyer in the transaction. Marcus & Millichap represented the seller.
BIRMINGHAM, ALA. — Hendricks & Partners has arranged the $66.5 million note sale of the five-property, 1,900-unit Park Lane Portfolio, located in Birmingham. The multifamily communities in the portfolio include the 742-unit Overlook at Homewood, the 244-unit Renaissance at Galleria, the 150-unit Place at Galleria, the 431-unit Park at Galleria and the 333-unit Cliffs at Rock Ridge. David Oakley of Hendricks & Partners represented Germany-based Duesseldorfer Hypothekenbank AG and Deutsche Hypothekenbank (Actien-Gesellschaft), the sellers, in the transaction. The buyer was New York-based CLK Longview Acquisitions.
ORLANDO, FLA. — Advenir has purchased the 308-unit Polos East at Waterford, located at 1700 Woodbury Road in Orlando, for $27.1 million. The buyer has renamed the property Advenir at Polos East. The property is 94 percent leased. Amenities include a clubhouse, fitness center, game room, gated entrance, two swimming pools, spa, dog park, racquetball courts, tennis courts, volleyball courts, basketball courts, a car wash area and picnic area. Kevin Judd, Patrick Dufour and Matt Wilcox of ARA represented the seller, a national REIT, in the transaction. The buyer was self-represented.
CROSSVILLE, TENN. — Broad Reach Retail Partners has sold the 180,767-square-foot Highland Square Shopping Center, located at the corner of Elmore Road and West Avenue in Crossville, for $12.25 million. Kroger, Dunham's Sporting Goods, Tractor Supply and Goody's anchor the center, which is 93 percent leased.
LANDOVER, MD. — A 251,227-square-foot industrial property, located at 7100 Old Landover Road in Landover, has sold for $12 million. Bo Cashman and Jonathan Beard of CBRE Group represented Boston-based NPV Direct Invest, the seller, in the transaction. Plymouth Meeting, Pa.-based Exeter Property Group was the buyer.
CORDELE, GA. — Cassidy Turley has arranged the $4.4 million sale of the 120,868-square-foot Cordele Corners, a shopping center located near Interstate 75 in Cordele. Tractor Supply, Bealls and Dollar Tree anchor the center, which is 70 percent leased. Mark Joines and Drew Fleming of Cassidy Turley represented RCG Ventures, the seller, in the transaction. The buyer was a Florida-based private equity group.
FORESTVILLE, MD. — A partnership between Dragone Realty Investments and PCCP has acquired the 930-unit Residences of Suitland Parks, a bank-owned multifamily community located at 6501 Hil-Mar Drive in Forestville, for $58 million. Amenities include two resort-style pools, a fitness center, sport courts and scenic biking and walking trails. Mike Muldowney, Bill Roohan, Andy Boyer, Michael Rudolph, Brian Margerum and Martha Hastings of CBRE Group represented the seller in the transaction. Maury Zanoff and Matt Williams, also of CBRE Group, represented the buyer.
RINCON, GA. — Panther Properties has purchased the 352-unit Effingham Parc Apartments, a garden-style community located at 617 Towne Park Drive W. in Rincon, from Continental Property Co. for $30.8 million. Amenities include a swimming pool, fitness center, dog park, business center, community lake and outdoor theater. CBRE Group represented the seller in the transaction.
ATLANTA — MAA has purchased the 349-unit Allure at Brookwood, a multifamily community located in Atlanta's Buckhead submarket. Amenities include a resort-style pool, a 50-meter lap pool, outdoor stone terrace with grill, fitness center and business center.