DURHAM, N.C. — Chevy Chase, Md.-based Federal Capital Partners (FCP) has purchased Phase I of West Village, a mixed-use development located at 212 N. Duke St. in Durham, from members of National Champion Real Estate for $32.52 million. The project includes 241 apartment units and 10,000 square feet of integrated retail. FCP will partner with Greensboro, N.C.-based Bell Partners, who will invest alongside FCP in the deal. Cleveland-based BGL Real Estate Advisors, a division of Brown Gibbons Lang & Co., represented the seller in the transaction. Bethesda, Md.-based First Capital Realty represented the buyer.
DURHAM, N.C. — Centerville, Ohio-based The Connor Group has sold the 292-unit Lenox at Patterson Place, located at 100 Rose Garden Ln. in Durham, to Westdale Lenox for $28.8 million. The Connor Group acquired the property in 2009 for $19.08 million. Amenities include a pool, playground, fitness center and tennis courts.
HAMPTON, VA. — Suttle Holding Corp. has acquired the 67,749-square-foot Hampton North II, an office building located at 303 Butler Farm Dr. in Hampton, from Hampton North I and Hampton North II for $5.25 million. John Duffy of Cushman & Wakefield/Thalhimer's Virginia Beach, Va., office represented the seller in the transaction.
LARGO, FLA. — Franklin Street Real Estate Services has arranged the $3.12 million sale of 59 of the 108 condo units at Whispering Palms Condominiums, located at 13200 Wilcox Rd. in Largo. Bob Goldfinger, Darron Kattan and Kevin Kelleher of Franklin Street's Tampa, Fla., office represented Whispering Palms Condominiums LLC, the seller, in the transaction. The buyer was JSSH 1.
CHAPEL HILL, N.C. — Charlotte, N.C.-based Medalist Capital has arranged $36.5 million in debt for the 716-unit Granville Towers, a University of North Carolina student housing property located at 125 W. Franklin St. in Chapel Hill. Don Williams, Bat Barber and Mary Neill Hagood of Medalist Capital arranged the long-term, fixed-rate loan through Aviva Investors North America on behalf of the borrower, The University of North Carolina at Chapel Hill Foundation. The Foundation has partnered with Atlanta-based Cousins Properties to start the redevelopment of the University Square portion of the project, which will include more than 500,000 square feet of retail, office and residential units upon completion.
TAKOMA PARK, MD. — Federal Capital Partners (FCP) has formed a joint venture with Level 2 Development to develop the $36 million Takoma Central, a mixed-use development located at 235-255 Carroll St. NW in Takoma Park. The project will include 156 apartment units and 8,000 square feet of ground floor retail. Amenities will include a fitness center, business center, outdoor terrace, community room and bike storage. MAC Realty Advisors represented Level 2 Development in the formation of the joint venture. Completion is slated for the fourth quarter of 2013.
WASHINGTON, D.C. — EDENS has purchased the 50,560-square-foot Jenkins Row Retail, a grocery-anchored urban retail asset located at 1391 Pennsylvania Ave. SE in Washington, D.C., from Jenkins Row Retail LP. The property is part of the Jenkins Row mixed-use development, which includes 247 luxury apartments in addition to the retail portion. Tenants include Harris Teeter, Subway, Signal Financial and GameStop. Washington, D.C.-based Transwestern's Institutional Commercial Group represented the seller in the transaction.
CLEARWATER, FLA. — Colliers International has launched it's National Student Housing Group, based in Clearwater. Dorothy Joffe Jackman and Travis Prince have been hired as managing directors of the newly formed group to serve clients nationwide. The company will continue to hire additional real estate professionals to join the student housing practice.
JACKSONVILLE, FLA. — A 65,296-square-foot shopping center, located at 31 Arlington Rd. S. in Jacksonville, has been sold for $2.2 million. Winn Dixie and Pinch-A-Penny anchor the center. Bryan Bartlett and Lee Stine of Jacksonville, Fla.-based Grubb & Ellis/Phoenix Realty Group represented the buyer in the transaction.
HUNTSVILLE, ALA. — Walker & Dunlop has arranged $24.7 million in refinancing for the 334-unit Bridgewater Apartments, located at 1501 Old Monrovia Rd. in Huntsville. The 10-year loan has a 30-year amortization schedule and was provided by Fannie Mae. Troy Marek of Regions' Real Estate Capital Markets originated the loan and Will Baker of Walker & Dunlop's Bethesda, Md., office led the Walker & Dunlop team.