ATLANTA AND BIRMINGHAM, ALA. — Birmingham-based Daniel Corp. has started development of three multifamily properties with a combined total cost of more than $200 million. In Atlanta, the firm has broken ground on 77 12th Street, an $82 million, 23-story mixed-use tower located in the 12th & Midtown project. The development will include 330 luxury apartment units and 20,000 square feet of street-level retail. Also in Atlanta, Daniel Corp. has been contracted to buy the 80-unit The Rocca: Piazza at Paces, a multifamily property located at 3280 Northside Pkwy. NW. The company plans to expand the property by an additional 200 units. Construction is slated to begin this summer. In Birmingham, the firm has broken ground on the $35 million, 250-unit Ashby at Ross Bridge, located in the Ross Bridge master-planned community.
Southeast
NEWPORT BEACH, CALIF. — Newport Beach-based Griffin-American Healthcare REIT II has purchased 10 skilled nursing facilities and one medical office building for $174.3 million. The properties are located in Georgia, Tennessee, Louisiana, Alabama and Texas. The 10 nursing facilities add 1,364 beds to the Griffin-American Healthcare REIT II's skilled nursing facility portfolio and are leased through 2027 by affiliates of Wellington Healthcare Services, the seller of the properties. Matt Ryan and Michael Hoagberg of Houlihan Lokey's Chicago office represented the seller in the transaction. The 60,000-square-foot SIerra Providence East Medical Plaza I, located in El Paso, Texas, was acquired from PHT Investment Holdings. Chris Bodnar of CBRE's Denver office represented the seller.
GREENSBORO, N.C. — Raleigh, N.C.-based Church Street Partners has purchased the 240-unit Hunt's View, an apartment complex located at 3901 Battleground Ave. in Greensboro. Amenities include a pool, spa, billiard's room, exercise facilities and a picnic area. The property is currently 90 percent occupied. Sean Wood, Blake Oakland and Dean Smith of ARA's Charlotte, N.C., office represented the undisclosed seller in the transaction.
ODENTON, MD. — The ground lease for a 4,000-square-foot, single tenant, net-leased M&T Bank property, located at Annapolis Road and Blair Drive in Odenton, has sold for $4.02 million. Michael Shover, Tom Gorman and Matthew Gorman of Marcus & Millichap's Philadelphia office represented the seller, a Baltimore-based developer, in the transaction. The all-cash buyer is based in Manhattan.
PINEVILLE, N.C. — MPE USA has purchased a 70,340-square-foot warehouse, located at 10424 Rodney St. in Pineville, for $1.69 million. Warren Snowdon and David Hanna of Cushman & Wakefield/Thalhimer's Charlotte, N.C., office represented First Industrial B&L, the seller, in the transaction. Ian Bertolina of Charlotte-based Bertolina Commercial Real Estate represented the buyer.
RALEIGH, N.C. — Woodfield Investments has broken ground on the 256-unit Woodfield Creekstone, located at the intersection of South Miami Boulevard and Hopson Road in Raleigh. Amenities will include a resort-style pool, clubhouse, landscaped grounds and garage parking. The Carlyle Group and US Bank are financial partners for the project, CF Evans Construction is providing general construction services and the project's architectural design is by The Housing Studio. Greystar will manage the property. Completion is slated for the summer of 2012.
VIRGINIA BEACH, VA. — Spring Water has purchased the 183,814-square-foot former U.S. Foodservice building, located at the intersection of Diamond Springs Road and Northampton Boulevard in Virginia Beach, from USF Propco II & U.S. Foodservice for $5.2 million. The buyer plans to demolish the industrial property and construct apartments on the site. Robert Thornton and William Throne of Cushman & Wakefield/Thalhimer's Virginia Beach office represented the buyer in the transaction. CBRE represented the seller.
ORANGE CITY, FLA. — A 20,000-square-foot Office Depot, located on Saxon Boulevard in Orange City, has been sold for $3.15 million. Daryl Carter of Orlando, Fla.-based Maury L. Carter & Associates, along with William Snow, II, of SRS Real Estate Parters' Orlando office, represented Saxon/Broward Ltd., the seller, in the transaction. Mark Thiel of Marcus & Millichap's San Diego office represented the buyer.
TAMPA, FLA. — Institutional Property Advisors, a division of Marcus & Millichap, has negotiated the REO sale of the 228-unit Rivertree Landing, an apartment complex located at 6909 Indian River Rd. in Tampa. Jamie May and Ken Hoff of IPA's Tampa office represented the seller in the transaction. The property is currently undergoing a $550,000 renovation, including both interior and exterior upgrades.
TAMPA, FLA. — Humana has signed a 52,433-square-foot lease for office space at MetWest One, located at 4030 W. Boy Scout Blvd. in Tampa. Approximately 250 associates are scheduled to move into the building in the second quarter of 2012. Leigh Anne Johnson and Thomas Dyer of UGL Equis' Tampa office represented the tenant in the lease transaction. Angela Odell of Taylor & Mathis' Tampa office represented the landlord, MetLife.