GREER, S.C. — Walker & Dunlop provided a $7.2 million Fannie Mae acquisition loan secured by the 192-unit West Chase Apartments, located in Greer. The loan was structured with a 10-year term including 2 years of interest only and a 30-year amortization. Steve Bram and Allison Higgins of Los Angeles-based George Smith Partners originated the loan. Verne Murray and Jeffrey Burns of Walker & Dunlop's Bethesda, Md., office led its team.
FLOWERY BRANCH, GA. — Kimco Realty Corp. has acquired the 92,985-square-foot, Publix-anchored Village Shoppes of Flowery Branch from institutional investors advised by J.P. Morgan Asset Management — Global Real Assets for $13.7 million. Located at 5900 Spout Springs Rd. in Flowery Branch, close to the Interstate 985/Spout Springs Road interchange, the shopping center is 92 percent leased. It was built in 2002. Richard Reid and Jim Hamilton of HFF represented the seller.
COMMERCE, GA., AMITE, LA., AND DESTIN, FLA. — Marcus & Millichap has facilitated the sale of three Walgreens. The 14,500-square-foot Walgreens, located at 2100 Broad St. in Commerce, sold for $5.15 million. The seller was represented by Lori Schneider of Marcus & Millichap's Fort Lauderdale, Fla., office. The buyer was represented by Lane Schwartz of Marcus & Miliichap's West Los Angeles office. Next, the 14,550-square-foot Walgreens, located at 300 West Oak St. in Amite, was sold for $4.99 milion. The seller was represented by Schneider. Finally, the 14,430-square-foot Walgreens, located at 977 Highway 98-E in Destin, was sold for $2.8 million. The seller was represented by Schneider. Marc Strauss of Marcus & Millichap's Fort Lauderdale office and Michael Jaworski and Benjamin Berry of the Tampa, Fla., office represented the buyer.
BETHESDA, MD. — Reznick Group has signed a 105,000-square-foot lease to move its headquarters to 7501 Wisconsin Ave. in Bethesda. Glenn Meltzer of Bethesda-based The Ezra Company represented the tenant in the transaction. The building is also owned by the firm's current landlord, B.F. Saul. The location offers expansion rights to accommodate future growth on contiguous floors.
WINTER PARK, FLA. — The 288-unit Sutton Place, located at 3935 Sutton Place Blvd. in Winter Park, has been sold for $18.18 million to Tampa, Fla.-based Blue Rock Partners. The property was 93 percent occupied at closing. Amenities inclde two swimming pools, a fitness center, and racquetball and tennis courts. Shelton Granade and Luke Wickham of Orlando, Fla.-based CB Richard Ellis' Florida Multi-Housing Group represented the undisclosed seller.
AVENTURA, FLA. — Coconut Grove, Fla.-based Aztec Group has secured $8.5 million in bridge financing for the 44,500-square-foot Biscayne Harbour Shops, located at 181st Street and Biscayne Boulevard in Aventura. Howard Taft and Charles Penn of Aztec Group secured the financing through a New York-based real estate finance company. Terms of the 2 year facility include a 60 percent loan-to-value ratio and a floating rate. The buyer is Blue Green Capital, an affiliate of Aventura-based Triarch Investment Group.
CORAL GABLES, FLA. — Moss & Associates has been selected to build the new $27 million, 119,000-square-foot student activity center on the Coral Gables campus of the University of Miami. Construction will begin in June and completion is slated for August 2013. The center will contain a Rathskellar restaurant, retailers, a banquet room and space for student organizations and gatherings. The project will be built to meet LEED Silver Certification and will be designed by Miami-Based Arquitectonica and Pittsburgh-based WTW Architects.
ELKIN, N.C. — Binswanger has brokered the sale of a 416,007-square-foot industrial facility located on 37.4 acres at 300 Candle Wycke Lane in Elkin. The facility features Interstate 77 frontage. Pittsburgh Glass Works purchased the property and plans to open a new manufacturing facility in it. Doug Faris of Binswanger represented the seller, Midwest-CBK Inc., in the deal. The acquisition price was not disclosed.
CONCORD, N.C. — NorthMarq Capital has secured $14 million in Freddie Mac financing for Cloister of Concord, a 360-unit apartment community located at 843 Devonshire Drive in Concord. The first mortgage carries a 10-year term and a 30-year amortization schedule. Bill Matone of NorthMarq's Charlotte office secured the funds on behalf of the undisclosed borrower.
ATLANTA — Morris, Manning & Martin law firm has negotiated taking the top six floors, totaling approximately 140,000 square feet, of the Campanile Building in Atlanta. The company will move its headquarters from the Atlanta Financial Center where it currently leases 114,000 square feet. The landlord of the building is Dewberry Capital. Jones Lang LaSalle represented the tenant in the transaction.