MOBILE, ALA. — Bodner Co. has sold the 270-unit Retreat at Schillinger, a Class A apartment complex located at 1313 Schillinger Road S. in Mobile, to LMS Cos. for $23 million. The property is 93 percent occupied. Amenities include a wellness center, resort-style swimming pool, dog resort, theater, ping pong table, pool table and meeting rooms. Sean Henry, John Weber and Chad DeFoor of ARA represented the seller in the transaction.
Southeast
ALPHARETTA, GA. — STORE Capital Corp. has completed a $19.2 million sale-leaseback with Tappan Street Restaurant Group (TSRG) for five Taco Mac restaurants in Georgia and North Carolina, as well as the company's corporate headquarters in Alpharetta. The properties were leased back to TSRG under a long-term, triple-net lease.
PEMBROKE PINES, FLA. — UDSS Investments has acquired the 21,906-square-foot third floor of the Atria in Pembroke Pines Professional Plaza, Phase II, located at 18501 Pines Blvd. in Pembroke Pines, from 1st United Bank of Boca Raton for $2.22 million. The buyer plans to occupy a portion of the space and rent out the rest. Michael Scarpino and Jennifer Scarpino of NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller in the transaction. Peter Medina of True Quest Realty represented the buyer.
LADSON AND ROCK HILL, S.C. — Bryson Thomason Q10/Professional Mortgage Co. has secured a $5.1 million, fixed-rate loan on the 52,607-square-foot Ladson Crossing, a shopping center located on U.S. Highway 78 in Ladson. Additionally, Denton Burnette of Q10/Professional Mortgage Co. arranged a $6.3 million, non-recourse loan for a 71,700-square-foot Academy Sports + Outdoors store, located at 2468 Cross Pointe Drive in Rock Hill. The store is part of High Point Crossing, which will be a 200,000-square-foot shopping center.
LOUISVILLE, KY. — Marcus & Millichap has arranged the $22.5 million sale of the 326-unit Vieux Carre Apartments, a multifamily property located at 9811 Vieux Carre Drive in Louisville. The property is fully occupied. Aaron Johnson of Marcus & Millichap represented the seller, The Infinity Group, in the transaction. Drew Babcock, also of Marcus & Millichap, represented the buyer, a Nashville-based multifamily investment group.
ARLINGTON, VA. — Ambassador Inc., a wholly owned subsidiary of The Morris & Gwendolyn Cafritz Foundation, plans to invest $5 million to renovate its 175,000-square-foot office building, located at 3701 N. Fairfax Drive in Arlington. The renovation will include exterior upgrades, a new lobby and vestibule, new HVAC system, tenant common areas on all floors, fifty-person conference facility, fitness center and first floor food service/deli. Construction is slated to begin this fall, following the departure of the Defense Advanced Research Projects Agency, due to BRAC requirements. Structure Tone is the general contractor for the project.
VIRGINIA BEACH, VA. — Walmart has selected Satterfield & Pontikes Construction to build a $4.9 million, 45,000-square-foot Walmart Neighborhood Market, located at 3201 Holland Road in Virginia Beach. BRR Architecture will provide design and architectural services for the project and Kimley-Horn will be the engineer. Completion is slated for February 2013.
ROME, GA. — Franklin Street Real Estate Services has arranged the $1.16 million sale of an 8,000-square-foot Family Dollar, located in Rome. Mac McCall of Franklin Street represented the seller, a Chattanooga, Tenn.-based developer, in the transaction. The buyer was an Atlanta-based investment company.
RICHMOND, VA. — CBRE Group has secured $43.3 million in permanent financing for the SunTrust's Mid-Atlantic headquarters, located in Richmond. Included in the collateral were the 458,229-square-foot main building, the 28,111-square-foot SunTrust center and a 370-space parking garage. Charles Foschini, Christopher Apone and Christian Lee of CBRE Group arranged the three-year loan with an interest-only amortization schedule through NorthStar Income on behalf of Parmenter Realty Partners, the borrower.
MIAMI — LNR Property and LYND plan to break ground on the $65 million, 390-unit EnV at Mary Brickell Village, an 800,000-square-foot residential tower located at 999 SW 1st Ave. in Miami, this month. The 35-story tower will be constructed on top of an existing Publix and multi-level parking structure for the Shops at Mary Brickell Village. Amenities will include a recreation deck with a swimming pool, spa, gazebos and cabanas. Behar Font & Partners is the architect for the project, which Plaza Construction is building. BlackRock Realty Advisors is the equity provider and Wells Fargo is the construction lender. Completion is slated for 2014.