ASHEVILLE, N.C. — Denver-based KSL Capital Partners has purchased the 512-room Grove Park Inn Resort & Spa, located between the Blue Ridge and Great Smoky Mountains in Asheville, from Sammons Enterprises. The property includes a spa, eight dining outlets, seven retail outlets, an 18-hole Donald Ross-designed golf course, a 50,000-square-foot sports complex and 55,000 square feet of meeting space with 42 meeting rooms. As part of the resort's 100th anniversary in 2013, KSL is planning a $25 million upgrade, which will include renovating public areas, guest rooms, dining outlets, meeting spaces and the spa.
Southeast
POMPANO BEACH, FLA. — Faison has sold 393,156 square feet of the 908,000-square-foot Pompano Citi Center, a regional shopping center located at the intersection of Federal Highway and Copans Road in Pompano Beach, to Sterling Value Add Partners LP. The acquisition includes anchor stores JC Penney, Ross Dress For Less, Big Lots and Office Depot, as well as several national tenants.
PLANTATION, FLA. — Beech Street Capital has secured a $16.3 million conventional loan to refinance the 296-unit Jacaranda Village at Plantation, located at 461 NW 87th Rd. in Plantation. Brian Sykes of Beech Street Capital's Boston office arranged the 7-year, Fannie Mae loan with 4 years interest only and a 30-year amortization schedule, thereafter payable on an actual/360 basis, on behalf of the borrower, Scully Co.
BOCA RATON, FLA. — Florida Atlantic University has selected Balfour Beatty Construction to build a new $31 million, 600-bed freshman student housing project on its main campus in Boca Raton. PGL Architects, in association with SchenkelShultz, is the design team for the project, which also includes a new dining facility. Construction on the seven-story project will begin in June, with completion slated for summer 2013.
HENDERSONVILLE, TENN. — A joint venture between Bell Partners and Bluerock has acquired the 252-unit Grove at Waterford Crossing, located at 101 Spade Leaf Blvd. in Hendersonville, for $27 million. The property contains 12 three-story buildings. Amenities include a clubhouse with a fireplace, television and full kitchen, a resort-style swimming pool with a sun deck, an internet cafe, a fitness center, free WiFi, a picnic area and a car wash center. The property has been renamed Bell Hendersonville.
MACON, GA. — Indianapolis-based SC Bodner has sold the 240-unit Pavilion at Plantation Way, an apartment community located at 399 Plantation Way in Macon, to EBSCO Income Properties for $17.3 million. The property is 93 percent leased, and includes amenities such as a resort-style swimming pool, a WiFi cyber center, a fitness center and a media room with a movie theater. Sean Henry, John Weber, Bo Moore and Dan Phelan of ARA's Atlanta office represented the seller in the transaction.
FREDERICK, MD. — Wood Partners has broken ground on the $17.1 million, 204-unit Park at Walnut Ridge, located at 2001 Wood Hollow Pl. in Frederick. Security Development Corp. is developing the property, which will be open for leasing and occupancy in late fall 2012. Amenities will include a clubhouse, resort-style swimming pool, two gazebos and a clubhouse with a fitness center, cyber cafe, flat screen televisions and a common area. Full completion is slated for spring 2013.
MACON, GA. — Westwood Financial Corp. has purchased the 86,631-square-foot Wesleyan Station, a shopping center located at 4650 Forsyth Rd. in Macon, for $8.9 million. The property is 92 percent leased to tenants, which include Kroger, Tuesday Morning, Starbucks, El Sombrero Mexican Restaurant, Cricket Wireless, ASP Pool Spa, LaBerry Yogurt and Macon Crossfit.
TAMPA, FLA. — The 422-unit Seaport Channelside Apartments, located at 1120 E. Twiggs St. in Tampa, has been sold for $66 million. The six-story building is wrapped around a structured parking garage, which contains 302 climate controlled storage units on top. Amenities include a billiards room, courtyard, fitness center, swimming pool, spa, and a resident lounge with WiFi and computers. Cushman & Wakefield of Florida represented the seller in the transaction. The buyers were a group of Bell Partners-sponsored individual investors and Crow Holdings. The property has been renamed Bell Channelside.
GREENSBORO, N.C. — Summit Equities has acquired the 228-unit Allerton Place, a garden-style apartment complex located at 3201 Allerton Cir. in Greensboro, in a sale in conjunction with Auction.com for $16.32 million. Jordan McCarley of Southeast Apartment Partner's Charlotte office represented the seller in the transaction.