MELBOURNE, FLA. — A joint venture between DeBartolo Development and Elco Landmark Residential has acquired the 208-unit Sunbreeze Apartments, a multifamily property located at 2395 Woodwind Trail in Melbourne. Amenities include a lakeside pool, Wi-Fi cafe, business center, fitness center, lakeside tennis court, sports court, fitness center and 24-hour clothes care center. The joint venture has rebranded the property as Landmark at Waverly Place and plans to complete more than $1 million in improvements during the next 18 months.
Southeast
WINSTON-SALEM, N.C. — A 10,125-square-foot CVS/pharmacy, located in Winston-Salem, has sold for $3.75 million. CVS/pharmacy has a 22-year lease, which expires in 2023, on the property. Berkley Capital Advisors represented the seller, a local developer, in the transaction. National Net Lease Realty represented the buyer, a Pennsylvania-based private investor.
HATTIESBURG, MISS. — The 45,927-square-foot T.J. Maxx and Shops at Turtle Creek, a neighborhood shopping center located at 5024-5040 Hardy St. in Hattiesburg, has sold. T.J. Maxx anchors the center, which is 93 percent leased to tenants that include H&R Block, APM Subs, Pizza Inn, Oreck and Sweet Peppers. The Mansour Group of Marcus & Millichap represented the seller, a Texas-based private investment group, in the transaction.
JACKSONVILLE, N.C. — A new 105-room Home2 Suites by Hilton, located at 139 Circuit Ln. in Jacksonville, has opened. Amenities include an indoor saline swimming pool and scenic walking trail, as well as complimentary breakfast. This is the second Home2 Suites in North Carolina. Onslow Hospitality built the property, and LBA Hospitality will manage it.
ALEXANDRIA, VA. — Beech Street Capital has provided a $18.9 million Fannie Mae conventional loan for the acquisition of the 180-unit Mallard Courts, an apartment complex located at 4511 Colony Ct. in Alexandria. Jacob Katz of Meridian Capital Group originated the loan, which has a 10-year term with 2.5 years of interest-only payments.
CHARLOTTE, N.C. — Parkway Properties has entered into an agreement to acquire the 972,000-square-foot Hearst Tower, an office building located in Charlotte's Central Business District, for $250 million. The building is 94 percent leased, and Bank of America will enter into a new 322,000-square-foot lease as part of the transaction. Additionally, TPG has agreed to make a $200 million investment in Parkway at a price of $11.25 per share. The purchase of Hearst Tower will initially be funded using the cash received from TPG, combined with borrowings on the company's credit facility.
BALTIMORE — Johns Hopkins Health System has selected EwingCole to design a new 18,000-square-foot radiation oncology addition and renovation to the Bayview Medical Office Building, located in Baltimore. The building will be named the Sydney Kimmel Comprehensive Cancer Center, and will include exam/consulation rooms, clinical support space, linear accelerators and a radiation therapy simulator. The renovation will include vitals/phlebotomy, an infusion area and oncology pharmacy. The estimated construction cost is $10.5 million
FORT MYERS, FLA. — The 320-unit The Brittany Apartments, a multifamily tax-credit property located at 4050 Winkler Ave. Extension in Fort Myers, has sold for $10.35 million. The property, which is 85 percent leased, is near Florida Gulf Coast University. Jeffrey Meyer of Marcus & Millichap's Tampa, Fla., office, along with Shahar Ziv of the firm's San Diego office, represented the seller, a Fort Myers-based development group, in the transaction and procured the buyer, a Tampa Bay-based private investor.
VIERA, FLA. — Love Funding has arranged $8.56 million in construction and permanent financing for the 102-bed Viera Manor Assisted Living Facility, a new property located in Viera that will give veterans priority admission for 80 percent of available units. Laura Saull-Smith of Love Funding's Washington, D.C., office arranged the loan through HUD's Section 232 loan insurance program on behalf of the borrower, INVENCO Seniors Housing.
COLUMBIA, S.C. — Capital Advisors has secured $8.1 million in financing for the 220-unit Tamarind at Stoneridge Apartments, located at 143 Stoneridge Dr. in Columbia. Matt Good of Capital Advisors arranged the 10-year loan with 30 months of interest-only payments and a 30-year amortization schedule through Red Capital Group on behalf of the borrower, Cresof Tamarind LLC.