MIAMI — Miami-based Aztec Group has arranged $9.15 million in senior debt financing for the 296-pad Colonial Acres Mobile Home Park, a manufactured housing community located at 9674 NW 10th Ave. in Miami. Howard Taft and Charles Penan of Aztec Group secured the 10-year loan with a 30-year amortization schedule and a 5.45 percent fixed interest rate through Ladder Capital Finance on behalf of the borrower, Liberty Investments.
Southeast
SPARTANBURG, S.C. — Vesta Equity has provided a $5.2 million bridge loan for the acquisition and renovation of the 369-unit Wildewood Apartments, located at 350 Bryant Rd. in Spartanburg. David Borge of CBRE's Orlando, Fla., office originated the 18-month loan on behalf of the borrower, Bowman Investments.
SPARTANBURG, S.C. — The 369-unit Wildewood Apartments, located at 350 Bryant Rd. in Sparatanburg, has sold for $6.4 million. Tony Bonitati, John Gray and Kay Hill of Greenville, S.C.-based NAI Earle Furman represented the seller in the transaction. Bowman Investments, the buyer, plans to invest $1 million to renovate the property and rebrand it as Woodland Park Apartments.
WASHINGTON, D.C. — New Boston Fund has acquired 67,000 square feet of office space in an 11-story office building, located at 111 K St. NE in Washington, D.C. Jud Ryan of Cassidy Turley's Washington, D.C., office represented J Street Cos., the seller, in the transaction. The property was purchased as part of New Boston Fund VII.
BRADENTON, FLA. — The 80-bed Langdon Hall, an assisted living facility located at 1120 33rd Ave. W. in Bradenton, has sold for $4.9 million. The 55,275-square-foot building is 88 percent leased. Kenneth Carriero and Damien Carriero of Colliers International's Clearwater, Fla., office represented the seller, Ohio-based Langdon Hall LLC, in the transaction and procured the buyer, Chicago-based Aviv REIT.
PANAMA CITY, FLA. — Marcus & Millichap has negotiated the sale of the 53,600-square-foot Hickory Plaza Shopping Center, located at 406 S. Tyndall Pkwy. in Panama City. The property is 84 percent leased, and tenants include Dollar General, Anytime Fitness, Aaron's, The UPS Store and Subway. Tim Giambrone of Marcus & Millichap's Atlanta office represented the seller, Atlanta-based Shops at Friendship LLC. The buyer was a private investor from Maryland.
WILDWOOD, FLA. — A CVS/pharmacy located at 901 S. Main St. in Wildwood, has sold for $2.27 million. Michael Zimmerman of Calkain Cos.' Tampa, Fla., office represented the seller, a Louisiana-based private party, in the transaction. The buyer was a private equity group based in the Northeast. CVS has less then 8 years remaining on its lease.
OLIVE BRANCH, MISS. — IDI has broken ground on three industrial buildings in Crossroads Distribution Center, located in Olive Branch, which will total 1.75 million square feet. The 267,843-square-foot Building B is slated for completion in September, and the 869,892-square-foot Building G is slated for completion in October. Both buildings are speculative. The company has also broken ground on the 615,305-square-foot Building E, a build-to-suit for Milwaukee Electric Tool, which is also scheduled for completion in October.
ALPHARETTA, GA. — Dayton, Ohio-based The Connor Group has purchased the 344-unit Belmont at Park Bridge, an apartment complex located at 150 Rockberry Ln. in Alpharetta, from Belmont at Park Bridge Inc. for $26.15 million. Amenities include a fitness center, laundry facilities, a pool and tennis courts. The company also owns Addison Place and Ashley Forest, two neighboring properties.
GREENVILLE, N.C. — The 503-bed University Suites, located at 2200 University Suites Dr. in Greenville, has sold for $15.5 million. The property serves Eastern Carolina University. Alan Meetze and David Hudgins of Drucker & Falk's Newport News, Va., office represented University Suites at ECU LLC, the seller, in the transaction. The buyer was 2200 University Suites.