Southeast

NORTHSIDE HOSPITAL RENEWS LEASE AT MERIDIAN MARK PLAZA

by admin April 3, 2013

ATLANTA — Northside Hospital Inc. has signed a 10-year lease renewal for 43,051 square feet at Meridian Mark Plaza in Atlanta, a 160,000-square-foot medical office building developed and owned by Cousins Properties Inc. The property is located along the Glenridge Connector in the “Pill Hill” area — a cluster of the region's major hospitals and doctors' offices near Georgia State Route 400 and I-285. The space primarily houses Northside Hospital's Outpatient Surgery Center in addition to its pharmacy and ancillary services. George Olmstead of Olmstead Realty LLC represented Cousins in the transaction. Joseph Krumdieck of Realty Trust Group represented the tenant.

April 3, 2013

Southeast

HARRISON STREET, TEXLA AND VERMILION BUY $19.3M ASSET NEAR UK

by admin April 3, 2013

LEXINGTON, KY. — VerTex Student Housing Partners, a joint venture of Vermilion Development and Dallas-based TEXLA Housing Partners, has acquired a 182-unit, 676-bed student housing development near the University of Kentucky from McKinney Properties. The acquisition marks the first transaction in a partnership with Chicago-based Harrison Street Real Estate Capital. The acquisition in Lexington has a total cost of $19.3 million and will be financed by a $16.9 million loan assumption with Bank of America. Known locally as The Courtyards, the 676-bed student apartment community was originally constructed in 1996. It consists of eight three-story residential buildings and a one-story clubhouse and leasing office. In addition to re-branding the property, the partnership will invest roughly $3.5 million in capital improvements. Both the buyer and the seller were represented by Dorothy Jackman and Travis Prince of Colliers International Student Housing Group.

April 3, 2013

Southeast

SELF STORAGE PROPERTY SELLS FOR $1.8M IN NASHVILLE

by admin April 3, 2013

NASHVILLE, TENN. — Marcus & Millichap has arranged the $1.8 million sale of Murfreesboro Road Storage, a 54,250-square-foot self storage facility at 4211 Hurricane Creek in Nashville. The facility includes 406 climate and non-climate controlled units. Anne Williams of Marcus & Millichap represented the seller, a limited liability company. Williams and Chico LeClaire, also of Marcus & Millichap, represented the buyer, a private investor.

April 3, 2013

Multifamily Southeast

PANTHER ACQUIRES $75M MULTIFAMILY PORTFOLIO IN TWO SOUTHEAST MARKETS

by admin April 2, 2013

HUNTSVILLE, ALA. AND CORDOVA, TENN. — Boston-based Panther Properties Investment LLC has acquired a three-property multifamily portfolio, totaling 740 units, for $75 million. The three Class A apartment communities include the 276-unit Huntsville Parc at the Arsenal in Huntsville, the 238-unit Villas at Grays Creek in Cordova and the 226-unit Carrington at Houston Levee in Cordova. The acquisition marks Panther's first investment in Alabama and second and third in Tennessee. The private equity real estate firm acquires, develops and manages Class A apartment communities in the Southeast.

April 2, 2013

Multifamily Southeast

GVEST TO BUILD APARTMENTS IN CHARLOTTE ARTS DISTRICT

by admin April 2, 2013

CHARLOTTE, N.C. — Gvest Partners plans to build a new 340-apartment community in Charlotte's historic arts district. Construction is expected to start soon on The Yards at NoDa, a $37 million development in the NoDa district, which is home to galleries, restaurants, bars and performing spaces. The property will include studio, one-, two- and three-bedroom apartments. Amenities will include a resort-style pool, fitness center, clubhouse and a dog park. Gvest is providing the equity investment for the new development and Wells Fargo provided the construction financing.

April 2, 2013

Hospitality Southeast

CHESAPEAKE ACQUIRES W NEW ORLEANS — FRENCH QUARTER

by admin April 2, 2013

NEW ORLEANS — Chesapeake Lodging Trust has purchased the W New Orleans — French Quarter from Starwood Hotels & Resorts Worldwide Inc. for $25.5 million. Starwood has entered a long-term management contract to continue operating the hotel. The 97-room property is located on Chartres Street, near Jackson Square and many of the retail and jazz clubs of the French Quarter. The hotel also includes a fitness center and Creole cuisine restaurant.

April 2, 2013

Seniors Housing Southeast

KANDU, BLOOM BUY TWO SENIORS HOUSING COMMUNITIES IN SOUTH CAROLINA

by admin April 2, 2013

BLUFFTON AND HILTON HEAD, S.C. — Kandu Capital LLC and its operating company, Bloom Senior Living, have acquired two seniors housing communities in Bluffton and Hilton Head, S.C., from Brookdale Senior Living for $7.2 million. The acquisition includes the Carolina House of Bluffton, a 59-unit assisted living and memory care community, which was built in 2000. The second property is Carolina House of Hilton Head, a 58-unit assisted living and memory care community built in 1999. Bloom plans to upgrade the properties.

April 2, 2013

Industrial Southeast

CENTRAL PIPE BUYS NEW HEADQUARTERS FACILITY IN ATLANTA

by admin April 2, 2013

ATLANTA — Central Pipe & Supply has acquired a 195,000-square-foot industrial building at 4335 Wendell Drive in west Atlanta. The company will relocate its Doraville, Ga., headquarters to the new facility. The two-story property, formerly the headquarters of Printpack, features more than 140,000 square feet of warehouse space and 55,000 square feet of office space. Denton Shamburger of Lincoln Property Co. Southeast represented the seller, Printpack, in the transaction. Ed Riggins of Cresa Atlanta represented the buyer.

April 2, 2013

Office Southeast

JORDACHE INVESTMENT ARM ACQUIRES 175,000 SF D.C. PROPERTY

by admin April 1, 2013

WASHINGTON, D.C. — Nakash Holdings has closed on its purchase of 1400 New York Ave. N.W. in Washington, D.C., otherwise known as the Bond Building, for a reported $100 million. Nakash is a closely held investment company controlled by the founders of Jordache Enterprises, a company made famous in the 1980s with its designer jeans. The 175,000-square-foot property is leased to the Justice Department, which has agreed to sign a new lease and stay on another 15 years after its current lease expires next year. Located near the White House, the eight-story building was originally built in 1901.

April 1, 2013

Office Southeast

168,000 SF OFFICE BUILDING BREAKS GROUND IN D.C.

by admin April 1, 2013

WASHINGTON, D.C. — Akridge and Mitsui Fudosan American have broken ground on a 168,000-square-foot office building at 1200 17th St. in Washington, D.C. The 11-story property will house Pillsbury Winthrop Shaw Pittman LLC, one of D.C.'s largest law firms. In late January, the firms signed a lease to occupy 105,000 square feet of the new building. The office building will feature floor-to-ceiling windows, a green roof and ground-floor retail. The project is slated for completion in the fourth quarter of 2014.

April 1, 2013

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