MYRTLE BEACH, S.C. — Fred Ross Jr. of Dickinson, Logan, Todd & Barber Inc. has arranged a $30 million loan for the 227-room Hampton Inn & Suites Oceanfront Resort in Myrtle Beach. A New York City-based CMBS lender provided the loan to the borrower, SC LLC. The 10-year loan features a 25-year amortization schedule.
MORRISVILLE, N.C. — Grace Park, a mixed-use development in Morrisville, is nearing 100 percent occupancy. The center includes 128 apartments, 52 townhomes and 90,000 square feet of ground-floor and outparcel retail. The residences are 98 percent occupied and 90 percent of the retail space has been leased. Some of the new retail tenants include Trali Irish Pub, which leased 4,100 square feet; Health Station, which will occupy 1,500 square feet; Ladders Teaching Supply Store, which will occupy 1,500 square feet; and Mare, an Italian restaurant that recently leased 3,200 square feet. In addition, the Discovery Child Development Center will relocate and expand to a new 8,500-square-foot building on the remaining outparcel retail site by the end of 2013. Current retail tenants include Starbucks, 5 Hot Chilies, Edward Jones, Peppers Market and Pristine Auto Spa. The Kalikow Group and EYC Cos. developed the property.
BIRMINGHAM, ALA. — Saddle Creek Logistics Services has opened a new, 225,000-square-foot industrial facility in Birmingham. The company moved its operations in Atlanta into the new rail-served, food-grade warehouse. Operations at the facility began in February. Ogden Deaton of Graham & Co. and Ladson Montgomery of Grubb & Ellis | Phoenix Realty Group brokered the deal.
ORLANDO — Lake Nona has announced plans to build the Lake Nona Gateway Building, a 100,000-square-foot medical office building on the northwest corner of Narcoossee Road and Tavistock Lakes Boulevard in Orlando. Florida Hospital and University of Central Florida's Pegasus Health will become anchor tenants in the new building. Florida Hospital expects to establish a combination of services, including a CentraCare urgent care center, imaging and diagnostics and an outpatient surgery center. UCF's College of Medicine will expand Pegasus Health, the college's primary and multi-specialty practice. The project is expected to break ground in the fall with a projected opening in mid-2014. Lake Nona is a 7,000-acre master planned community within the city limits of Orlando.
CLEMSON, S.C. — Tom Winkopp Realtor/Developer (TWRD) is constructing an additional 30 waterfront homes, a clubhouse, pool and amenity package at The Pier, and a waterfront cottage community for students near Clemson University. The resort-style project opened in fall 2012, and phase two is expected to be complete for the 2013-2014 school year. The Pier is part of a larger development that also includes HighPointe, a 221-condominium community adjacent to The Pier. When fully complete, the two communities will offer 250 single-family homes and 750 condominiums, enough living space for 4,000 students. The master plan also includes on-site restaurants, shopping, professional office space and more. The Pier is a unique 330-acre waterfront community located 2.5 miles southwest of campus. The Pier and HighPointe are developed and managed by TWRD. The complex is being built by Trehel Corp. and designed by Signature Architects.
OCALA, FLA. — Marcus & Millichap Real Estate has arranged the sale of Century Oaks Apartments, a 32-unit apartment property located in Ocala, for $875,000. Joe LaFleur and Brett Roye of Marcus & Millichap represented the seller, a limited liability company. The eight-building apartment community is located at 2831 NE. 8th Terrace, about 35 miles south of Gainesville. The buildings have a concrete block foundation and new upgrades in some of the units.
ST. LUCIE WEST, FLA. — Beech Street Capital has arranged an $8.6 million Fannie Mae loan for the refinancing of the Enclave at St. Lucie West, a 90-unit apartment property in Port St. Lucie. Mitch Sinberg and Michael Wallace of Beech Street originated the 10-year loan, which features a 30-year amortization schedule. The Enclave at West St. Lucie West is located near PGA Golf Village and the New York Mets' spring training center. Interior amenities include ceiling fans, granite countertops in select units, washer/dryer connections, 9-foot ceilings and walk-in closets.
GREENSBORO, N.C. — BB&T has sold YorkTowne Apartments, a 314-unit apartment complex in Greensboro, for $10 million. Built in 1973, the 37-building property is located at 3601 Lynhaven Drive, near I-85 and I-40. Amenities include a swimming pool, two lighted tennis courts and a covered picnic area. Tal Frydman, Daniel Cunningham and Derek Gibbs of Marcus & Millichap represented the seller in the transaction. The buyer is a Connecticut-based private investment group.
GREENVILLE, S.C. — The Greenville Renewable Energy Education (GREEN) Charter School has acquired the former Pelham Oaks Shopping Center, located at 1440 Pelham Road in Greenville. The school will occupy 30,500 square feet of the 40,000-square-foot facility. The charter, approved in 2012, aims to provide environmental and sustainability literacy, improved science instruction and renewable energy learning opportunities. In its first year, the school will serve 260 students in kindergarten through sixth grade. The school expects to begin registering students within the next month for the 2013-2014 school year. CBRE | The Furman Co. represented the buyer in the transaction.
NEW ORLEANS — The Laurus Corp. has completed the $2.7 million renovation of the Ramada Suites Hotel at New Orleans Airport and rebranded the facility as a Holiday Inn Express. The project included a complete overhaul of the guestrooms, public areas, exterior facade and landscaping. Laurus acquired the 130-room hotel in March 2012, which is situated at the entrance of the 200-acre James Business Park. Exterior renovations include a new pool deck, courtyard deck, fountain and a new paint job. Guestrooms will feature new flooring, furniture, lighting, window treatments and upgraded fixtures in the bathrooms.