FREDERICK, MD. — Wood Partners has broken ground on the $17.1 million, 204-unit Park at Walnut Ridge, located at 2001 Wood Hollow Pl. in Frederick. Security Development Corp. is developing the property, which will be open for leasing and occupancy in late fall 2012. Amenities will include a clubhouse, resort-style swimming pool, two gazebos and a clubhouse with a fitness center, cyber cafe, flat screen televisions and a common area. Full completion is slated for spring 2013.
MACON, GA. — Westwood Financial Corp. has purchased the 86,631-square-foot Wesleyan Station, a shopping center located at 4650 Forsyth Rd. in Macon, for $8.9 million. The property is 92 percent leased to tenants, which include Kroger, Tuesday Morning, Starbucks, El Sombrero Mexican Restaurant, Cricket Wireless, ASP Pool Spa, LaBerry Yogurt and Macon Crossfit.
TAMPA, FLA. — The 422-unit Seaport Channelside Apartments, located at 1120 E. Twiggs St. in Tampa, has been sold for $66 million. The six-story building is wrapped around a structured parking garage, which contains 302 climate controlled storage units on top. Amenities include a billiards room, courtyard, fitness center, swimming pool, spa, and a resident lounge with WiFi and computers. Cushman & Wakefield of Florida represented the seller in the transaction. The buyers were a group of Bell Partners-sponsored individual investors and Crow Holdings. The property has been renamed Bell Channelside.
GREENSBORO, N.C. — Summit Equities has acquired the 228-unit Allerton Place, a garden-style apartment complex located at 3201 Allerton Cir. in Greensboro, in a sale in conjunction with Auction.com for $16.32 million. Jordan McCarley of Southeast Apartment Partner's Charlotte office represented the seller in the transaction.
MORGANTON, N.C. — Morganton-based Ferrari Investments has sold five KFC/Taco Bell restaurants and two KFC restaurants, located in North Carolina, to STORE Capital and OMAA for $7.8 million. The properties are located in Hudson, West Jefferson, Cherryville, Marion, Denver, Richfield and Lincolnton, N.C. Sam Young of Cassidy Turley represented the seller in the transaction. Steven Peden and Annette Montgomery of Colliers International represented the buyer.
CHARLOTTE, N.C. — LKQ Corp. has signed a 156,000-square-foot lease to occupy the former FedEx facility, located at 1001 Carrier Dr. in Charlotte. The facility will serve as the company's base operations for the Carolinas and will allow LKQ to increase product offerings to the Charlotte Metropolitan area while also expanding its team of employees to support its growth strategy. Bill Mowry of Prime Equities represented the tenant in the lease transaction. Lester Osborn of Piedmont Properties/CORFAC International represented the landlord, NATMI National Truck Terminals, in the transaction.
NORTH LITTLE ROCK, ARK. — Grandbridge Real Estate Capital has arranged $31 million in first mortgage refinancing for the 288-unit Fountaine Bleau Apartments, a garden-style apartment complex located at 10801 Paul Eells Dr. in North Little Rock. Alan Tapie of Grandbridge's Atlanta office, along with David Boerner of Little Rock-based Plunkett, Boerner & Associates arranged the 10-year, fixed-rate loan with a 30-year amortization followed by 12 months of interest-only payments.
CHESAPEAKE, VA. — JRK Investors has acquired the 374-unit Empirian Chesapeake, a garden style apartment complex located at 150 Coveside Ln. in Chesapeake, in a sale in conjunction with Auction.com for $55.12 million. Amenities include a business center, clubhouse, swimming pool, playground and laundry facilities. Jordan McCarley of Southeast Apartment Partners represented the seller in the transaction.
ROSWELL, GA. — A joint venture between Cortland Partners and Harbert Management Corp. has acquired the 664-unit Centennial Ridge, an institutionally-developed community located at 100 Calibre Creek Pkwy. in Roswell, for $38.75 million. The buyers plan to invest $10.6 million to renovate the property. Renovations will include resident amenity improvements, energy efficient upgrades and renovated kitchens, including new granite countertops. Plans also include a redevelopment of the leasing center and clubhouse, which will include a commercial grade health club facility. Current amenities include a lake, jogging trails, two swimming pools, four tennis courts and an outdoor kitchen, fireplace and gazebo. Once renovations are complete, the property will be rebranded as Park 83.
MIAMI — The $30 million, 100-unit Dr. Barbara Carey-Shuler Manor, an affordable housing complex located at 1400 NW 54th St. in Miami, has opened. Half of the units are designated for formerly homeless families and the other half are set aside for elderly residents and low-income families earning at or below 60 percent of the area's median income. Amenities include an exercise facility and community room. Additionally, there is 16,000 square feet of ground-floor office space. Carrfour Supportive Housing developed the property.