LAUDERHILL, FLA. — A $21 million permanent/refinance loan was secured by Walker & Dunlop for the 405-unit Glen at Lauderhill, which is currently 95 percent leased. Amenities of the property include an outdoor pool, tennis courts, fitness center, playground, car wash area and more. The 10-year term loan has a 30-year amortization and was secured through Freddie Mac. Stephen Farnsworth of Walker & Dunlop's New Orleans office led the team.
Southeast
WASHINGTON, D.C. — Cassidy Turley secured $46.5 million in debt financing for 293,845-square-foot Georgetown Center, two buildings located at 2121 and 2115 Washington Ave. in Washington, D.C. The two buildings are a major off-campus location for Georgetown University and MedStar Health. John Campanella of Cassidy Turley's Washington, D.C. office arranged the five-year, interest only loan from a CMBS lender on behalf of the owner, Chevy Chase, Md.-based JBG Companies.
ORLANDO, FLA. — Bill Johnson of NorthMarq Capital's office in Boca Raton, Fla., arranged $35.65 million first mortgage financing for 233,637-square-foot Lake Buena Vista Factory Stores, located at 15553 & 15601 S. Apopka Vineland Rd. in Orlando, which includes stores like VF Factory Outlet, Nike, Reebok, Old Navy, Ann Taylor and more. Financing was based on a 10-year term with a 30-year amortization schedule. NorthMarq arranged for the borrowers through Goldman Sachs Commercial Mortgage Capital.
RALEIGH, N.C. — A joint venture between Philadelphia-based TRECAP Partners and Greensboro, N.C.-based Bell Partners purchased a Raleigh community for $27 million. Autumn River Apartments contains 284 units in 13 three-story buildings on 20 acres. Built in 2001, the Class A community also features a clubhouse with a swimming pool. The seller's name was not released.
CAPE CORAL, FLA. — Two buildings totaling 80,929 square feet on 12.03 acres were purchased for $1.6 million. Chocholek, an individual investor, bought the buildings, located at the East Cape Commerce Center, 901-925 East Industrial Circle, Cape Coral, from Echo Properties III. The buyer was represented by Jerry Messonnier, Bob Johnston and Derek Bornhorst of Grubb & Ellis | 1st Commercial's Fort Myers office. Richard Clarke, also of Grubb & Ellis | 1st Commercial's Fort Myers office, represented the seller.
HENRICO COUNTRY, VA. — Virginia Primary Care purchased a 25,268-square-foot, Class A office building, located at 3831 Westerre Pkwy. in Henrico County, for $4.3 million from Lingerfelt Development. Sale negotiations were handled by Mark E. Douglas of Cushman & Wakefield | Thalhimer's Richmond, Va., office.
ORLANDO, FLA. — Atlanta-based Pollack Partners has purchased 4.36 acres of land located at the northwest corner of West Colonial Dr. and Orange Ave. in Orlando for $3.7 million, or approximately $850,000 an acre. The seller was CRM Florida Properties, a subsidiary of SunTrust Bank. Susan Morris and Kane Morris of Collilers International's Central Florida office represented the seller. The broker for Pollack Partners was undisclosed.
WEST PALM BEACH, FLA. — City Place Tower, an 18-story, 295,933-square-foot office building in West Palm Beach was purchased by KBS Real Estate Investment Trust II. The building is currently 86 percent leased to tenants such as Intech (Janus Funds), Cleveland Clinic, Carlton Fields, Regions Bank and more. The undisclosed seller was represented by Douglas Harmon of Eastdil Secured's New York office and Michael McDonald and Miles Theodore of Eastdil Secured's Atlanta office. KBS Capital Advisors, an affiliate of KBS Realty Advisors, represented KBS REIT II. The price was undisclosed.
ISLE OF PALMS, S.C. — American Real Estate Capital of Coral Gables, Fla., closed on a 5-year, $30.75 million loan for the refinance of Wild Dunes in Isle of Palms. The four star resort includes a AAA Four Diamond rated hotel, condominiums, luxury vacation rental homes, two championship golf courses, retail and dining venues and a nationally ranked tennis court.
GASTONIA, N.C. AND ROCK HILL, S.C. — Bill Matone of NorthMarq Capital's office in Charlotte, N.C. secured first mortgage financing totaling $14.5 million for two multifamily properties with a combined total of 452 units. The first, 188-unit Quail Woods Apartments, located in Gastonia, was financed at $5.5 million. The second, 264-unit Stone Haven Pointe Apartments in Rock Hill was financed at $9 million. Financing for both transactions was based on a 10-year term and a 30-year amortization schedule. NorthMarq, through it's seller-service relationship with Freddie Mac, arranged for the borrowers.