NAPLES, FLA. — The 12,500-square-foot former Gates McVey office building, located at 12810 Tamiami Trail N. in Naples, has sold for $2.02 million. Dave Wallace of CRE Consultants represented the buyer, Ferrari Partners LP., in the transaction. The seller was Fifth Third Bank.
Southeast
DAYTONA BEACH, FLA. — NorthMarq Capital has arranged $3.56 million in first mortgage refinancing for the 122-room Residence Inn by Marriott, a limited service hotel located at 1725 Richard Petty Blvd. in Daytona Beach. Robert Hernandez of NorthMarq's Tampa office arranged the 10-year loan with a 25-year amortization schedule on behalf of the borrower, Oceanside Two LLC, through a CMBS lender.
SARASOTA, FLA. — Institutional Property Advisors has arranged the $13.5 million sale of the 178-unit Tradition at Palm Aire, a multifamily property located at 8445 Gardens Way in Sarasota. Amenities include a two-story clubhouse, business center with Wi-Fi, fitness center, three swimming pools, spa, lighted tennis courts, two lakes with walking paths and a car care center. Jamie May of IPA represented Beachwold Residential, the seller, in the transaction. Preston Giuliano Capital Partners was the buyer.
JACKSON, MISS. — DHS Ventures has acquired a 62,322-square-foot former Brookshire's Grocery, located in Jackson, for $1.7 million. Josh Burmeister and Buff Teague of SRS Real Estate Partners represented the buyer in the transaction.
WELLINGTON, FLA. — The 9,700-square-foot Plaza Two at Wellington Green, an office building located at 2515 State Rd. 7 in Wellington, has sold for $1.5 million. Dan Casey of Reichel Realty represented US Acquisition Property XVI, the seller, in the transaction. Saler Partners was the buyer.
NEW ORLEANS — Meridian Capital Group has secured $70 million in mortgage financing for the 1.3 million-square-foot Place St. Charles, a Class A office building located at 201 St. Charles Ave. in New Orleans. The 52-story building is 95 percent leased to tenants including JPMorgan Chase and Capital One. Tal Bar-Or of Meridian Capital Group arranged the 20-year loan with a 25-year amortization schedule through Cornerstone Real Estate Advisers.
DALE CITY, VA., AND CHARLESTON, S.C. — Bryson Thomason of Q10/Professional Mortgage Co. has arranged two retail loans, totaling $9.05 million. Thomason arranged a $5.55 million, 12-year, fully amortized loan for the 53,561-square-foot Staples Mill Plaza, a Food Lion-anchored neighborhood shopping center located on Minnieville Road in Dale City. Additionally, he negotiated a $3.5 million, 13-year, fully amortized loan for the 56,200-square-foot Citadel Crossing, a Food Lion-anchored shopping center located on Ashley Town Center Drive in Charleston.
WOODRUFF, S.C. — The 92,360-square-foot Patton Square, a neighborhood shopping center located in Woodruff, has sold for $6.65 million. Bi-Lo and Ace Hardware anchor the center. Additional tenants include Little Caesars, Jackson Hewitt, Edward Jones and Advance America. Kyle Stonis and Pierce Mayson of SRS Real Estate Partners' Atlanta office represented Patton Square LLC, the seller, in the transaction and procured the buyer.
CAPITOL HEIGHTS, MD. — UIP Property Management has completed a $3.5 million renovation at the 231-unit Hillside Heights Apartments, located at 5237 Marlboro Pike in Capitol Heights. The year-long renovation included new patio and deck railings, patio slider doors, windows, floors, air conditioning unit pads and enclosures and laundry equipment. Kitchens feature new appliances, flooring and granite countertops. Additionally, new amenities include barbeque stations and improvements to the lighting, fencing, landscaping, swimming pool and playground.
TAMPA, FLA. — Marcus & Millichap has arranged the $2.14 million sale of the 48-unit Lincoln Place Apartments, a Class B, garden-style multifamily community located at 5702 N. Lincoln Ave. in Tampa. Casey Babb and Luis Baez of Marcus & Millichap represented the seller, a partnership, in the transaction. Michael Donaldson, also of Marcus & Millichap, represented the buyer, a private investor.