MIAMI — Sunshine Bouquet has signed a 95,000-square-foot lease at the 215,000-square-foot Miami International Distribution Center, located at 2003 NW 70th Ave. in Miami. Thomas Kresse, Walter Byrd and Ben Eisenberg of Transwestern represented DCT Industrial, the landlord, in the transaction.
Southeast
FAIRFAX, VA. — Red Mortgage Capital has arranged $41.2 million in Fannie Mae financing for the 250-unit Dwell Vienna Metro Apartments, located at 2975 Hunters Branch Rd. in Fairfax. Charles Meyer of Red Mortgage Capital secured the 10-year, fixed-rate loan on behalf of the borrower, Associated Estate Realty Corp.
NEW ORLEANS — The 254-room Hyatt French Quarter, located at 800 Iberville St. in New Orleans, has reopened. The hotel recently underwent an $18 million renovation, which included upgrades to the guest rooms, as well as the hotel exterior, lobby, landscaping, pool and deck area decor. Additionally, newly designed food and beverage outlets include bodega-inspired market Powdered Sugar and an upscale lounge called Batch. The Hard Rock Cafe also recently signed a 10,000-square-foot lease at the hotel. The restaurant is slated to open in early 2013. A joint venture between Carey-Watermark Investors and HRI Properties owns the hotel.
FORT CAMPBELL, KY. — Hoar Construction and Paladin Construction Group have been retained to build a $16.19 million, 64,000-square-foot physical fitness facility, located at Fort Campbell. The facility will include cardio and circuit training areas, a free weight area, group exercise rooms, fitness assessment and stretching area, a gymnasium, racquetball courts, men's and women's locker rooms and sauna areas. Additionally, the project includes a multi-purpose athletic field, two softball fields, an indoor climbing wall and a 140-spot parking lot. Gresham Smith & Partners will team with Hoar and Paladin for the design/build facility.
MIAMI — Deerfield Beach, Fla.-based SIKON Construction Co. has broken ground on a $6.5 million, 37,000-square-foot Lorenzo Bomnin Chevrolet dealership, located at 8455 S. Dixie Hwy. in Miami. Howard Nudell designed the property, which is slated for completion in February 2013.
MIAMI — Miami-based Adler Group and Atlanta-based EDI Group have plans to develop two, 20-story luxury apartment towers, located at 7950 NE Bayshore Ct. in Miami. Miami-based Apollo Bank provided acquisition financing for the purchase of the land, which is the previous home of MIke Gordon's Seafood Restaurant. Features will include 13 boat slips zoned for development on Biscayne Bay and a new neighborhood park that will be located directly across 79th Street from the apartment complex. Adler and ECI will dedicate the park, which will be owned by the City of Miami. Groundbreaking is scheduled for later this year and is expected to last 24 months.
NEW ORLEANS — The 111-room Dauphine Orleans Hotel, located at 415-420 Dauphine St. in New Orleans' French Quarter, has received $10 million in financing. Johnson Capital and CRCapital Advisors arranged the 10-year loan with a 25-year amortization schedule through a CMBS lender. The non-recourse debt was used to pay off existing recourse bank debt.
ROCKVILLE, MD. — Matan Cos. has acquired the 220,539-square-foot Rockville Corporate Center, a two-building office property located at 15 and 45 W. Gude Dr. in Rockville, for $54.2 million. Both buildings are fully leased. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller in the transaction.
TAMPA, FLA. — IPA has arranged the $14 million sale of the 216-unit Lakes of Northdale, a Class B multifamily property located at 16297 Northdale Oaks Dr. in Tampa. Amenities include a clubhouse with WiFi, resort-style swimming pool with spa, a resident business center, redwood saunas, laundry facilities and 70 carports. Jamie May of IPA represented Sentinel Real Estate Corp., the seller, in the transaction. Robbins Property Associates was the buyer.
ATLANTA — MAA has purchased the 230-unit Allure in Buckhead Village, a mid-rise multifamily apartment community located at 360 Pharr Rd. in Atlanta. Amenities include a resort-style swimming pool with a sun deck, fitness center and outdoor kitchen. The buyer plans a complete renovation of the apartment unit interiors with upgrades, including stainless steel appliances, new counter tops and enhanced lighting and plumbing fixtures.