ABERDEEN, MD. — Brick, N.J.-based Tryko Partners has purchased the 184-unit Perrywood Garden, located at 301 Mayberry Dr. in Aberdeen, for $10 million from Perrywood Garden Associates. The property has a project-based Housing Assistance Payment Contract in place for 100 of its units. Ridge MacLaren, Andrew Townsend and Clarke Talone of Marcus & Millichap's Philadelphia office represented the seller in the transaction.
CHARLOTTE, N.C. — A joint venture between between Global Growth Trust and Woodfield Investments has purchased 13 acres of land, located at the intersection of Interstate 485 and Arrowood Road in Charlotte, to build the $30 million, 298-unit Whitehall Parc. The Class A, garden-style development will include amenities such as a club room, cyber cafe, fitness center and resort-style pool.
FORT LAUDERDALE, FLA. — Nipro Diagnostics has purchased a 78,339-square-foot office property, located at 220 W. Cypress Creek Rd. in Fort Lauderdale, from Cypress Creek Holding for $10.8 million. The buyer will occupy the entire building as its corporate headquarters. Kimberly Barbar of Fort Lauderdale-based Stiles Realty represented the seller in the transaction. Steve Wasserman of Jones Lang LaSalle's Fort Lauderdale office represented the buyer.
MIAMI — Beech Street Capital has closed a $9.5 million Fannie Mae conventional loan for the acquisition of the 369-unit Oak Grove Apartments, located at 15401 NE 6th Ave. in Miami. David Hayum of Meridian Capital Group's New York City office arranged the 5-year loan with a 30-year amortization schedule.
LOUISVILLE, KY. — Walker & Dunlop has provided $7 million in interim financing for the 216-unit Renaissance at St. Andrews, located at 3311 Renwood Blvd. in Louisville. The 1-year, acquisition loan was provided under the company's Interim Loan Program. Doug Taylor of Walker & Dunlop's Irvine, Calif., office originated the loan.
RALEIGH, N.C. — ARA has brokered the $45 million sale of the 350-unit Highlands at Brier Creek, located at 10200 Crichton St. in Raleigh. The property is 94 percent leased. Blake Oakland, Dean Smith and Sean Wood of ARA's Charlotte, N.C., office represented Boca Raton, Fla.-based The Altman Cos., the seller, in the transaction. The buyer was Birmingham, Ala.-based Colonial Properties Trust, which has renamed the property Colonial Grand at Brier Falls.
CARROLLTON, GA. — Atlanta-based Halpern Enterprises has commenced a $15 million expansion at the 297,300-square-foot Carrollton Crossroads, located at the intersections of South Park Street and Highway 166 in Carrollton. The 65,000-square-foot renovation and expansion of Kroger will include areas selling jewelry and home goods, along with a Starbucks location. In addition, the company will break ground in March on an Olive Garden on one of the center's outparcels. The center is 98 percent leased. Kroger is slated for completion in June 2013, and Olive Garden is scheduled to open in July.
FAYETTEVILLE AND SANFORD, N.C. — ARC Shopping Center REIT, through its PECO-ARC Institutional Joint Venture I, has acquired two North Carolina shopping centers for $11.6 million. In Fayetteville, the joint venture purchased the 66,890-square-foot Westin Center, located at 9545 Cliffdale Rd. in Fayetteville. A 29,000-square-foot, recently renovated Food Lion anchors the center, which is fully leased to tenants including CVS/pharmacy, Family Dollar, Subway and Rent-A-Center. In Sanford, the buyer purchased the 62,382-square-foot Tramway Crossing, located at 2244 U.S. 1. A 29,000-square-foot Food Lion anchors the center, which is 95.5 percent leased to tenants including CVS/pharmacy, Family Dollar and H&R Block.
MIAMI — Ground has broken on the $275 million, 250,000-square-foot Patricia and Phillip Frost Museum of Science, located in downtown Miami. Grimshaw Architects designed the property, which includes terrestrial and aquatic spaces such as a 600,000 gallon aquarium, a full dome 3-D planetarium, interactive exhibits, innovative technology, two additional wings of exhibition space, a learning center and cafes. Completion is slated for 2015.
LOUISVILLE, KY. — The 108-unit Renaissance at St. Andrews, located at 3311 Renwood Blvd. in Louisville, has been sold for $12.5 million. The property is 90 percent leased. Irvine, Calif.-based Steadfast Income REIT was the buyer. Amenities include a 24-hour fitness center, pool with waterfall and sundeck, laundry facilities and garages with remote access.