DORAL, FLA. — Terreno Realty Corp. has acquired a 75,000-square-foot industrial building, located at 1401 NW 78th Ave. in Doral, for $4.2 million. The property is currently vacant.
Southeast
STARKVILLE, MISS. — Walker & Dunlop has arranged $21 million in Fannie Mae financing for the 960-bed The Pointe at MSU, a student housing development located adjacent to Mississippi State University in Starkville. Prairie Realty Advisors, a Walker & Dunlop correspondent, originated the 10-year loan, which has a 30-year amortization schedule. Andrew Tapley led the Walker & Dunlop team.
CHARLOTTE, N.C. — Crescent Resources has sold the 360-unit Circle at South End, located at 222 E. Bland St. in Charlotte, for $74 million. The property, which is LEED Silver certified, has been fully leased since it opened in May 2009. Amenities include the Resident Lounge, which features billiards, video games, movies and a gourmet kitchen, as well as a swimming pool with grilling stations and access to courtesy bicycles. CBRE Group represented the seller in the transaction.
ATLANTA — Atlanta Property Group has acquired the 124,273-square-foot 280 Interstate North, an office building located in Atlanta, for $8.7 million according to public records. The building is 72 percent leased. The buyer will invest nearly $400,000 to renovate the building's common areas and improve the property's aesthetic appeal. David Meline and Stewart Calhoun of Cushman & Wakefield represented the seller in the transaction.
ARLINGTON, VA. — Vornado Realty Trust has completed a $7 million renovation at the 343-room Crystal City Marriott, located at 1999 Jefferson Davis Highway in Arlington. The project included the addition of the Bell20 restaurant, 10,000 square feet of meeting and event space, a 1,400-square-foot fitness center and a 1,200-square-foot concierge lounge. Marriott International manages the hotel.
MEMPHIS, TENN. — Marcus & Millichap has arranged the $4.5 million sale of two self-storage properties, located at 7384 Raleigh LaGrange Road in the Memphis MSA. Combined, the properties total 198,910 square feet. Michael Mele and Anne Williams of Marcus & Millichap represented the seller, Tellus Self Storage, in the transaction.
ATLANTA — NorthMarq Capital has arranged $32.8 million in first mortgage refinancing for the 353-unit 2924 Clairmont Apartments, a market-rate multifamily property located in Atlanta. Gardiner Champlin, Marty Meagher, Erick Flyckt and Paul Fearey of NorthMarq secured the five-year loan with one year of interest only payments followed by a 30-year amortization schedule through a life insurance company on behalf of Fairfield Clairmont I, the borrower.
WEST PALM BEACH, FLA. — Mayan Capital has sold the 276-unit Palo Verde Apartments, located at 6164 Forest Hill Blvd. in West Palm Beach, for $14.75 million. Amenities include a swimming pool, laundry facilities, tennis courts, playground and fitness center. The property is 95 percent leased. Jason Shapiro of Aztec Group and Peter Mekras of Continental Real Estate Cos. represented the seller in the transaction. The buyer was a private investor.
MEMPHIS, TENN. — Marcus & Millichap has arranged the sale of a five-property, 2,671-unit self-storage portfolio, located in the greater Memphis area. Two of the properties are located in Memphis, two are in Olive Branch, Miss., and one is in Hernando, Miss. Charles LeClaire and Anne Williams of Marcus & Millichap represented the seller, Memphis Storage LLC, in the transaction. The buyer was Amsdell Storage Ventures VII.
OCALA, FLA. — Franklin Street has arranged the $2.4 million sale of a 4,000-square-foot AT&T retail store, located in Ocala. Franklin Street represented the seller, an Atlanta-based development company, in the transaction. The buyer was a private investor in a 1031 exchange.