HOLLY HILL, FLA. — Aztec Group has secured $45 million in acquisition financing and joint venture equity for the remaining 414 condominium units at Marina Grande on the Halifax. Marina Grande on the Halifax offers 486 units in twin 243-unit high-rise towers. The borrowers were The Swerdlow Group and Glenmont Capital Management. The non-recourse, first mortgage was funded by a New York-based lender. Additionally, Aztec secured an equity investment from a private equity fund. Ezra Katz, Howard Taft and Charles Penan of Aztec arranged the financing.
Southeast
PASADENA, FLA. — Meridian Capital Group has secured a $15.75 million loan for the acquisition of Landmark at Waters Pointe, which is located at 1885 Shore Dr. South in Pasadena. The five-story multifamily property offers 198 apartment units. The 5-year loan features a fixed rate of 4.78 percent and requires interest-only payments for the first 2 years. Michael Brown and Brad Gladsden of Meridian's Florida office negotiated the transaction.
LOUDOUN COUNTY, VA. — McLean, Va.-based Miller & Smith and Japan-based SEKISUI HOUSE are developing One Loudoun, a mixed-use project in Loudoun County. The 358-acre master-planned community will feature 1,040 residential homes, 702,000 square feet of retail space, including restaurants, shopping, a luxury hotel and a movie theater, 3 million square feet of office space, a community center and an amphitheater. The community will be constructed in phases, including South Village, North Village, Downtown and the fourth section, which includes the community amenities. The South Village and North Village will be completed in 2014 and 2016, respectively, with pre-home sales beginning in the fall. The Downtown phase and community center will be completed in 2013. The project is designed by Torti Gallas and The Eisen Group in conjunction with Miller & Smith.
LAURENS, S.C. — Friedrichshafen, Germany-based ZF Group is developing a 975,000-square-foot transmission manufacturing facility in Laurens. The $350 million plan will be used to manufacture fuel-efficient eight- and nine-speed automatic transmissions for the passenger care and light truck markets. Walbridge Southeast and Red Rock Developments have been tapped to design and build the facility.
ARLINGTON, VA. — NorthMarq Capital has arranged $22.7 million in permanent first mortgage financing for Arlington Court Suites. The 187-room hotel is located in Arlington. Gery McGlynn and Kenneth Gentzel of NorthMarq's Washington, D.C., office arranged the financing for the undisclosed borrower.
BRANDON, MISS. — Copeland & Johns Inc. is constructing a Courthouse Fitness & Racquet Ball Club facility on Mar-Lyn Drive in Brandon. The single-story, 30,000-square-foot property will feature adult fitness facilities, including a group fitness area, a spinning room and full cardio and weight equipment, and a Courthouse JumpZone for children. Additionally, the building will space for two additional tenants. Completion is slated for August.
SILVER SPRING, MD. — An investment group aligned with Adventist Healthcare has acquired a five-story, 17,000-square-foot office building in Silver Spring. Located at 8807 Colesville Road, the nearly vacant property sold for $3.5 million. Chris Kubler and Travis Glennon of NAI KLNB represented the seller, Jose F. Bonelli; Larry Walker of The Walker Group represented the buyer in the transaction.
BALTIMORE, MD. — TidalTV has signed a lease for 16,000 square feet of office space at The Offices at McHenry Row in Baltimore. The company plans to relocate to the new space from its current property in Canton, Md., by April. Joe Nolan of NAI KLNB and Tim Jackson of Cushman & Wakefield represented the developer and landlord of the project, Mark Sapperstein; David Fields of CB Richard Ellis represented the tenant. The Office at McHenry Row is the office component of the 175,000-square-foot, mixed-use McHenry Row project, which is located near the intersection of Key Highway and East Fort Avenue in Baltimore's Locust Point district.
CHARLESTON, S.C. — US Industrial REIT III, an affiliate of USAA Real Estate Co., has acquired a 1.1 million-square-foot property in Charleston. The LEED Gold-certified, cross-docked Class A bulk distribution facility is situated on 124 acres at the Rockefeller Group-MeadWestvaco Foreign Trade Zone. The sellers were a joint venture consisting of The Rockefeller Group and MeadWestvaco Corp. Andrew Merin and Stewart Calhoun of Cushman & Wakefield, along with locally based Colliers Keenan, represented the seller in the transaction. The acquisition price was not disclosed.
MIAMI — Joint venture affiliates of Terranova Corp. and Acadia Realty Trust have acquired three Miami Beach retail buildings in a $52 million transaction. The assets are 741 Lincoln Road, 600 Lincoln Road and 723 Lincoln Road, which total more than 61,000 square feet. Current tenants at the properties include Starbucks Coffee, Geox Shoes, Sushi Samba Dromo and Tacontento. Terranova will manage and lease the Lincoln Road properties.