JACKSONVILLE, FLA. — Charles Perry Partners Inc. has completed the $3.36 million, 16,000-square-foot University of North Florida College of Education's Disability Resource Center (DRC). The two-story facility promotes and facilitates partnerships among UNF students with disabilities and the UNF community. The DRC also assists those with hearing, learning, medical, psychological, physical, speech and vision disabilities, as well as ADHD, ADD, traumatic head injury and other diagnosed disabilities.
Southeast
RIVERVIEW, FLA. — TNP has acquired the 78,500-square-foot Bloomingdale Hills, a shopping center located at the intersection of West Bloomingdale Avenue and Providence Road in Riverview, a submarket of Tampa. Walmart Neighborhood Market anchors the center, which is fully leased. The property is the public non-traded REIT's 19th acquisition.
SOUTHPARK, N.C. — A 15,344-square-foot office building, located in Morrocroft Professional Center in Southpark, has sold for $2.06 million. Charles G. Monnett III & Associates will occupy the first floor and Dr. Samuel Randall and Dr. Eric VanHuss currently occupy the second floor. NAI Southern Real Estate represented Queens Barrister II, the buyer, in the transaction. Jonathan Nance of Grubb Properties represented the seller, Colony at Morrocroft LLC.
TAMPA, FLA. — Mumford Co. has negotiated the sale of the 127-room Masters Inn, located adjacent to Interstate 4 in Tampa. David Mumford of Mumford Co.'s Newport News, Va., office, along with Steve Kirby and Burton Brooks of the firm's Atlanta office, represented the Supertel Hospitality, the seller, in the transaction. The buyer was a local operator.
OXFORD, MISS. — A joint venture between EdR and Landmark Properties has started construction on a $37.6 million, 668-bed off-campus student housing community, located at 2405 Anderson Road in Oxford, close to the University of Mississippi. Amenities include outdoor living areas, a resort-style pool, sand volleyball court and horseshoe pits. Additionally, the property will include a clubhouse with a fitness center, tanning beds, internet cafe, private and group study rooms, computer lounge, game room and golf simulator. The cottage-style development will be the first collegiate housing of its type serving the college. The joint venture secured a conventional 75 percent loan-to-cost construction loan from PNC Bank for the project. Completion is slated for the fall of 2013.
KISSIMMEE, FLA. — A partnership between Mayan Properties and Blue Rock Partners has acquired the 208-unit Woodside Apartments, located at 900 Woodside Circle in Kissimmee. The buyer plans to spend $2.5 million to renovate the property during the next year, including the common areas and all apartments. The property will be renamed The Park at Sorrento. Blue Rock Partners will oversee the renovation and manage day-to-day operations. Jason Shapiro of Miami-based Aztec Group arranged a five-year acquisition and bridge loan through a regional bank on behalf of the borrower.
ORLANDO, FLA. — NorthMarq Capital has arranged $27.7 million in first mortgage refinancing for the 308-unit Wisper Palms, a conventional market-rate multifamily community located at 13308 Whisper Palms Way in Orlando. Jeff Robertson of NorthMarq's Miami office arranged the 10-year loan with a 30-year amortization schedule through a correspondent life insurance company.
AUSTELL, GA. — Graphic Dimensions has signed a 65,259-square-foot industrial lease at the 353,983-square-foot Hartman Business Center One, a distribution complex located at 675 Hartman Road in Austell. The manufacturer is relocating from 7775 The Bluffs to its new location. The complex is now fully leased. Steve Grable and Chris Tomasulo with Jones Lang LaSalle's Atlanta office represented KBS REIT, the landlord, in the transaction. Brad Pope of Atlanta-based Hailey Realty Co. represented the tenant.
MOORESVILLE, N.C. — Langtree Development Co. has closed on vertical financing for the Langtree at the Lake project, which will include the immediate construction of 300 apartments and 47,000 square feet of retail space. The total projected price of the development is more than $2 billion. According to the release from the company, this closing is the largest of its kind ever recorded in North Carolina. Langtree at the Lake is located at Interstate 77 and exit 31 on more than 380 acres. The site is adjacent to the Lowe's Home Improvement corporate campus, Ingersoll-Rand corporate campus and Lake Norman Regional Medical Center. The financing was provided through M&T Bank utilizing a housing and urban development guarantee program.
WASHINGTON, D.C. — Forest City Washington, the Mid-Atlantic hub of Forest City Enterprises, has started the adaptive reuse of the 30,000-square-foot Lumber Shed, a former industrial property located on Water Street in Washington, D.C. The property sits in The Yards, a 5.5 million-square-foot redevelopment of the former Navy Yard property in the Capitol Riverfront district of Washington, D.C. The two-level glass pavilion will feature five restaurants on the ground floor and office space on the upper level. Osteria Morini, an Italian restaurant concept of the Altamarea Group, has signed a 4,250-square-foot lease as the first restaurant tenant. Completion is slated for the third quarter of 2013.