LANDOVER, MD. — A 251,227-square-foot industrial property, located at 7100 Old Landover Road in Landover, has sold for $12 million. Bo Cashman and Jonathan Beard of CBRE Group represented Boston-based NPV Direct Invest, the seller, in the transaction. Plymouth Meeting, Pa.-based Exeter Property Group was the buyer.
Southeast
CORDELE, GA. — Cassidy Turley has arranged the $4.4 million sale of the 120,868-square-foot Cordele Corners, a shopping center located near Interstate 75 in Cordele. Tractor Supply, Bealls and Dollar Tree anchor the center, which is 70 percent leased. Mark Joines and Drew Fleming of Cassidy Turley represented RCG Ventures, the seller, in the transaction. The buyer was a Florida-based private equity group.
FORESTVILLE, MD. — A partnership between Dragone Realty Investments and PCCP has acquired the 930-unit Residences of Suitland Parks, a bank-owned multifamily community located at 6501 Hil-Mar Drive in Forestville, for $58 million. Amenities include two resort-style pools, a fitness center, sport courts and scenic biking and walking trails. Mike Muldowney, Bill Roohan, Andy Boyer, Michael Rudolph, Brian Margerum and Martha Hastings of CBRE Group represented the seller in the transaction. Maury Zanoff and Matt Williams, also of CBRE Group, represented the buyer.
RINCON, GA. — Panther Properties has purchased the 352-unit Effingham Parc Apartments, a garden-style community located at 617 Towne Park Drive W. in Rincon, from Continental Property Co. for $30.8 million. Amenities include a swimming pool, fitness center, dog park, business center, community lake and outdoor theater. CBRE Group represented the seller in the transaction.
ATLANTA — MAA has purchased the 349-unit Allure at Brookwood, a multifamily community located in Atlanta's Buckhead submarket. Amenities include a resort-style pool, a 50-meter lap pool, outdoor stone terrace with grill, fitness center and business center.
DORAL, FLA. — Terreno Realty Corp. has acquired a 75,000-square-foot industrial building, located at 1401 NW 78th Ave. in Doral, for $4.2 million. The property is currently vacant.
STARKVILLE, MISS. — Walker & Dunlop has arranged $21 million in Fannie Mae financing for the 960-bed The Pointe at MSU, a student housing development located adjacent to Mississippi State University in Starkville. Prairie Realty Advisors, a Walker & Dunlop correspondent, originated the 10-year loan, which has a 30-year amortization schedule. Andrew Tapley led the Walker & Dunlop team.
CHARLOTTE, N.C. — Crescent Resources has sold the 360-unit Circle at South End, located at 222 E. Bland St. in Charlotte, for $74 million. The property, which is LEED Silver certified, has been fully leased since it opened in May 2009. Amenities include the Resident Lounge, which features billiards, video games, movies and a gourmet kitchen, as well as a swimming pool with grilling stations and access to courtesy bicycles. CBRE Group represented the seller in the transaction.
ATLANTA — Atlanta Property Group has acquired the 124,273-square-foot 280 Interstate North, an office building located in Atlanta, for $8.7 million according to public records. The building is 72 percent leased. The buyer will invest nearly $400,000 to renovate the building's common areas and improve the property's aesthetic appeal. David Meline and Stewart Calhoun of Cushman & Wakefield represented the seller in the transaction.
ARLINGTON, VA. — Vornado Realty Trust has completed a $7 million renovation at the 343-room Crystal City Marriott, located at 1999 Jefferson Davis Highway in Arlington. The project included the addition of the Bell20 restaurant, 10,000 square feet of meeting and event space, a 1,400-square-foot fitness center and a 1,200-square-foot concierge lounge. Marriott International manages the hotel.