STONE MOUNTAIN, GA. — The 474-unit Park Springs, a continuing care retirement community located at 500 Springhouse Cir. in Stone Mountain, has received $47.3 million in refinancing. Richard Swartz, Phil Anderson, Jay Wagner and Aaron Rosenzweig of Cushman & Wakefield Sonnenblick Goldman's Boston office arranged the financing on behalf of the borrower, Isakson Living. Bank of America and Atlantic Capital Bank provided the financing.
ORLANDO, FLA. — Orlando-based CNL Lifestyle Properties has entered into an agreement to acquire four assisted living communities in Georgia from Solomon Holdings III Dogwood Four for $80 million. The properties include Dogwood Forest in Alpharetta, Dogwood Forest of Eagles Landing in Stockbridge, Dogwood Forest in Fayetteville and Dogwood Forest in Gainesville. The company expects to close the purchase in May.
WESLEY CHAPEL, FLA. — Adventist Health System has selected Alter+Care to develop the 100,000-square-foot Wellness Plaza at Florida Hospital Wesley Chapel, a three-story wellness facility and medical office building located in Wesley Chapel. The 50,000-square-foot wellness center will include a 25-meter lap pool, warm water therapy pool, locker rooms, an indoor walk/jog track, massage services, group exercise studios, conference rooms, cardio and free weights equipment, a heart-healthy cafe, logo shop and disease management and wellness education programs. The remainder will be leased to physicians and ancillary healthcare service providers. Completion is slated for fall 2012.
CULPEPER, VA. — The 95,477-square-foot Culpeper Marketplace Shopping Center, located at the intersection of James Madison Highway and Nalles Mill Road in Culpeper, has sold. The property is 98 percent leased to tenants, which include Kohl's, Famous Footwear, Anytime Fitness and Buffalo Wild Wings. Bob Sanner of Cassidy Turley's San Francisco office represented Menomonee Falls, Wis.-based Continental Properties Co., the seller, in the transaction. The buyer was Culpeper Marketplace Associates, an affiliate of Virginia Beach, Va.-based Wheeler Interests.
ST. PETERSBURG, FLA. — BB&T Bank has sold the 19,045-square-foot San Martin Village Retail Center, located at 10690 Gandy Blvd. in St. Petersburg, to Hamza Investment Properties for $1.4 million. Dennis Bush, Frank Boullosas and Elliott Ross of Clearwater, Fla.-based The Ross Realty Group represented the seller in the transaction. Michelle Smith of Tampa, Fla.-based Ocean Blue Realty represented the buyer.
LAWRENCEVILLE, GA. — Grandbridge Real Estate Capital has arranged a $9.28 million first mortgage loan for the 192-unit Lealand Place Apartments, located at 2945 Cruse Rd. in Lawrenceville. Alan Tapie of Grandbridge's Atlanta office arranged the 10-year loan with 2-years interest only followed by a 30-year amortization schedule through Freddie Mac's CME program.
BOYNTON BEACH, FLA. — Advenir has acquired the 214-unit Colony Club, located at 7132 Colony Club Dr. in Boynton Beach, from New York-based Holiday Organization for $26.65 million. The buyer has renamed the property Advenir at Boynton and will implement a capital improvement program, focused on beautifying the exterior of the buildings and upgrading community amenities. Currently, amenities include a clubhouse, pool with spa, fitness center, two tennis courts, a basketball court and picnic areas. Avery Klann and Hampton Beebe of ARA's Boca Raton, Fla., office represented the seller in the transaction. The buyer was self-represented.
NASHVILLE, TENN. — Merrillville, Ind.-based White Lodging has closed on the purchase of the former Rock City Machine Co. site, located at 301 3rd Ave. S. in Nashville, to build the 255-room Hyatt Place Nashville. The hotel will be the only Hyatt in downtown Nashville. PFVS Architects designed the property, which will include amenities such as 3,580 square feet of meeting space, a 175-space parking garage, a 24-hour coffee and wine bar called The Gallery and the a.m. Kitchen Skillet where complimentary breakfast will be served. White Lodging is developing the hotel and will manage it upon completion. Construction is slated to begin in May, and the hotel is scheduled to open in December 2013.
WESTON, FLA. — Coral Gables, Fla.-based Flagler Real Estate Services (FRES) has arranged the $16.1 million sale of a portfolio of two office buildings, located at 2000 and 2002 Ultimate Way in Weston. The properties, which total 61,624 square feet, are the corporate headquarters for Ultimate Software. David Duckworth of Coral Gables, Fla.-based FRES represented the sellers, TP Eight & TP Nine, in the transaction. The buyers were Sterling Investments I and Sterling Investments II.
SALISBURY, MD. — A 49,000-square-foot industrial property, located at 618 Beam St. in Salisbury, has sold for $2.3 million. The warehouse/manufacturing facility is leased to Delmarva Media Group. John McClellan of Sperry Van Ness — Miller Commercial Real Estate's Salisbury office represented the seller, Beam Street, in the transaction. Henry Hann, also of the firm's Salisbury office, represented the buyer, Pennsylvania-based 618 Beam St., LLC.
