CHARLOTTE, N.C. — KBS Legacy Partners REIT, a non-traded REIT, has acquired Charlotte’s Wesley Village Apartments and an adjacent vacant parcel of land for $45.75 million. The adjacent parcel is zoned for an additional 199 multifamily units. Berkeley Point Capital provided $29.5 million in first mortgage financing for the acquisition under the Fannie Mae Delegated Underwriting and Servicing (DUS) program. Amenities at Wesley Village Apartments, which is located at 2715 Wet Stone Way in Charlotte, include a clubhouse, fitness center, business center, yoga studio, gaming center, swimming pool, dog park and detached garages.
Southeast
BIRMINGHAM, ALA. — Isuzu Manufacturing has sold a vacant 293,000-square-foot industrial facility at 1573 Sterilite Dr. in Birmingham to Kamtek, a division of automotive supplier Magna International. Isuzu purchased the property from Del Monte in 2006 with plans to assemble a light-duty work truck product line. However, the product line was not developed due to economic conditions. The industrial facility is situated on 36 acres near Birmingham’s Valley East Industrial Park. Sonny Culp of Graham & Co. represented Isuzu and Jack Brown of Graham & Co. represented Kamtek.
GARNER, N.C. — First American Exchange Co. has sold a 180,000-square-foot distribution center at 1001 Pergo Parkway in Garner to Exeter Property Group. The industrial property, which offers 175,230 square feet of warehouse space and 4,770 square feet of office space on 10.7 acres, is leased to Pergo, a laminate flooring manufacturer. J.D. Miller and Ann Stewart Patterson of CBRE/Raleigh represented First American Exchange Co. in the transaction.
POMPANO BEACH, FLA. — Palm Aire Marketplace, a 140,312-square-foot shopping center at 299 S. Powerline Rd. in Pompano Beach, has sold. The Winn Dixie-anchored retail property is 87 percent occupied and was originally constructed in 1977 and redeveloped in 1997. Tenants include RadioShack, Dollar Tree, Sally Beauty Supply, Rent-A-Center and the UPS Store. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office as well as Lori Schneider of the firm’s Fort Lauderdale office represented the seller. Schneider also procured the buyer, a New York-based private investor.
MIAMI — Love Funding, a provider of FHA multifamily and healthcare financing, has secured $13.4 million in refinancing for Jackson Plaza Nursing & Rehabilitation Center, a skilled nursing facility that is part of the Plaza Health Network in Miami. Jackson Plaza offers 120 nursing beds in 63 units. It was built in 1964 and renovated in 2000. Joshua Hausfeld of Love Funding’s Washington, D.C., office secured financing through the U.S. Department of Housing and Urban Development’s 232/223(a)(7) LEAN loan program.
ARLINGTON, VA. — KBR Building Group’s Vienna, Va., office will construct The Acadia at Metropolitan Park, a mixed-use building in the multi-phase Metropolitan Park development in Arlington. The 19-story, 677,154-square-foot Acadia will include411 residential units, three levels of underground parking with 16,350 square feet of ground-floor retail space. The Acadia will be located adjacent to The Millennium at Metropolitan Park and The Gramercy at Metropolitan, which were both constructed by KBR Building Group. McLean, Va.-based Kettler is developing the project and Dorsky Yue International is the project architect.
WASHINGTON, D.C. — Federal Capital Partners (FCP) has sold the 297-unit Allegro, a high-rise community at 3460 14th St. in Washington, D.C., to Prudential Real Estate Investors on behalf of one of its client funds. The multifamily property was built in 2009 and features studio, one- and two-bedroom units averaging 740 square feet. David Nachison, Alan Davis and Brenden Flood of HFF represented Washington, D.C.-based Federal Capital Partners.
LINTHICUM HEIGHTS, MD. — RockBridge, an integrated hotel investment firm, has closed an $8.6 million first mortgage investment to finance the acquisition of the 137-room Comfort Suites Hotel at Baltimore-Washington International (BWI) Airport in Linthicum Heights. The hospitality property will undergo a $3.4 million renovation and be reintroduced as a Holiday Inn in mid-2013. Renovations will include a reconfigured lobby, refreshed exterior and upgraded guest rooms. The hotel is located two miles from BWI Airport with access to I-195 and Route 295.
DURHAM, N.C. — The Flintkote Corp. has acquired a new McDonald’s ground lease at South Roxboro Street and Martin Luther King Boulevard in Durham for $1.3 million. The 1.69-acre site is subject to a new 20-year lease to McDonald’s USA LLC. A group of private investors sold the site to The Flintkote Corp. Steve Horvath and Jay Levell of Berkeley Capital Advisors represented the seller, and Joe Graham of CBRE/Raleigh represented the buyer.
LEXINGTON AND LOUISVILLE, KY. — NAI Isaac Commercial Properties has been appointed the receiver for the 350,000-square-foot Turfland Mall in Lexington and the 30,000-square-foot Shops at Bashford in Louisville. NAI Isaac will provide management services and stabilize the properties’ operations. The brokerage firm has been a court-appointed receiver on various troubled projects involving assets with a total loan value more than $100 million.