MIAMI — Equity One has entered into an agreement to sell 36 shopping centers, comprising 3.9 million square feet, for $473.1 million to Blackstone Real Estate Partners VII. These assets were encumbered by mortgage loans having an aggregate principal balance of approximately $177.4 million as of June 30, 2011. The shopping centers are located predominately in Atlanta, Tampa and Orlando, Florida, with additional properties located in North Carolina, South Carolina, Alabama, Tennessee and Maryland. Equity One intends to use the proceeds from the sale to retire debt, fund its redevelopment pipeline, for future acquisitions and other corporate purposes. Closing of the transaction is expected to occur in the 4th quarter. Lazard Freres & Co. is acting as the seller's financial advisor in the transaction and Eastdil Secured is acting as the buyer's financial advisor.
Southeast
MIRAMAR, FLA. — Jacksonville, Fla.-based Winn-Dixie Stores has selected Deerfield Beach, Fla.-based SIKON Construction for the $3 million renovation of the 47,050-square-foot Winn-Dixie at Park View Square, located at 17101 Miramar Pkwy. in Miramar. Construction will include a new storefront, wider aisles and more. Completion is slated for February 2012.
HANOVER, MD. — DTLR has signed a 139,500-square-foot lease for an industrial building, located at 1300 Mercedes Dr. in Hanover. DTLR will consolidate its corporate office headquarters with its main distribution center at the new location in January 2012. John Wilhide and Mike Roden of CB Richard Ellis' Baltimore office represented the tenant in the lease transaction. Ben Meisels of Cushman & Wakefield's Baltimore office represented First Potomac, the landlord.
JACKSONVILLE, FLA. — IEM has signed an 86,000-square-foot lease, located at 11902 Central Pkwy. in Jacksonville. Jeff Graham of King Industrial Realty of Florida —CORFAC International's Jacksonville office represented Exeter Property Group, the landlord, in the lease transaction. Aaron Zarle of Jacksonville-based Grubb & Ellis — Phoenix Realty Group represented the tenant.
BOCA RATON, FLA. — NorthMarq Capital has arranged a $5.2 million acquisition loan, on behalf of BG Camino Apartments, for the 102-unit Camino Palms & Camino Woods, located in Boca Raton. Robert Ranieri of NorthMarq's White Plains, N.Y., office closed the loan, which has a 7-year term and a 30-year amortization schedule, through Freddie Mac.
TAMPA, FLA. — A joint venture between Tampa-based Blue Rock Partners and Deerfield Beach, Fla.-based Konover South has acquired the 224-unit Marbrisa Apartments, located at 4949 Marbrisa Dr. in Tampa, Fla., from Equity Residential for $15.5 million. Jamie May of Institutional Property Advisors' Tampa office represented the seller in the transaction.
CONWAY, S.C. — Gilbane Development Co. has broken ground on the 396-bed The Cove, a 170,000-square-foot student housing development for Coastal Carolina University (CCU) in Conway. The apartment complex is slated for an August 2012 completion. The Cove will be within walking distance of CCU's campus and will feature a resort-style pool, clubhouse, volleyball court, fitness center, game room, outdoor plaza, tanning beds and cyber cafe.
FORT LAUDERDALE, FLA. — SIKON Construction has completed a $5 million, 30,907-square-foot Publix at The Galleria Mall, located at 2414 E. Sunrise Blvd. in Fort Lauderdale. Clearwater, Fla.-based Fisher & Associates designed the property.
WASHINGTON, D.C. — Cassidy Turley has secured $26.1 million in construction financing on behalf of Donatelli Development, Gragg & Associates and Invesco Real Estate for the 144-unit Highland Park Phase II, located above the Columbia Heights Metro station at 14th and Irvine streets in Washington, D.C. The project will adjoin the existing 229-unit Highland Park Phase I. Completion is slated for the first quarter of 2013.
RIVERVIEW, FLA. — VF Imagewear has signed a 220,000-square-foot, full-building lease at Oak Creek I, located at 8221 Eagle Palm Dr. in Riverview. Rick Narkiewicz of CB Richard Ellis' Tampa office represented the landlord in the transaction and John Jenkins, also of CBRE's Tampa office, represented the tenant.