NASHVILLE, TENN. — Meridian Capital Group has secured $14.6 million in financing for three apartment complexes located in the Nashville MSA. The properties include Cedar Ridge, Green Wood and Meadow Wood. Jacob Katz of Meridian Capital Group's Bethesda, Md., office arranged 10-year loans with 9.5 yield maintenance and a 30-year amortization schedule through Beech Street Capital on behalf of the borrower, CAPREIT.
SUN CITY CENTER, FLA. — NorthMarq Capital has arranged $4.6 million in first mortgage refinancing for the 97,450-square-foot Sun City Plaza, located at 1601 Sun City Plaza in Sun City Center. Matthew Kohlhoss of NorthMarq's Washington, D.C., office arranged the 10-year loan with a 25-year amortization on behalf of the borrower, Sun City LLC, through RiverSource.
CHESAPEAKE, VA. — Wood Partners has started construction on the $39 million, 280-unit Streets of Greenbrier, located at 929 Wintercress Way in Chesapeake. Amenities will includes a swimming pool, courtyards with grilling areas, dog park, play area, a car care center and a 5,500-square-foot clubhouse, which will contain a cyber cafe, 24-hour fitness center and a Nintendo Wii gaming area. KBS is the general contractor and Cline Design Associates is the architect. The first apartments will be available in January 2013, with construction completed in August 2013.
POTOMAC FALLS, VA. — CAPREIT has acquired the 103-unit The Commons on Potomac Square in Cascades, located at 21240 McFadden Square in Potomac Falls, from Comstock Homebuilding Corp. for $19.35 million. Construction on the four-story building was recently completed. Haze McCrary and Dave Belford of Bethesda, Md.-based Broad Street Realty represented the seller in the transaction. Jim Gulley represented the buyer.
MIAMI — Carrfour Supportive Housing has received $17 million in financing through HUD's Neighborhood Stabilization Program 2 to renovate three formerly distressed apartment complexes in Miami. Carrfour will renovate 56 units at Harvard House, located at 2020 NE 169th St. The $4.4 million project will begin later this month with completion slated for late 2012. At Hampton Village, located at 4301 NW 29th Ave., the company will renovate 100 units, representing a $6 million investment. Construction will begin this summer and completion is expected in late 2013. Carrfour will also renovate 100 units at Tequesta Knoll, located at 1629 NW 14th Terrace in Miami. Construction for the $5.6 million project has started and will be completed in late 2012.
TAVARES, FLA. — Charles Perry Partners Inc. has commenced construction on the $6.6 million, 28,485-square-foot Lake County Emergency Communications & Operations Center, located in Tavares. Winter Park, Fla.-based Architects Design Group designed the property, which is slated for completion in January 2013. It will replace the current emergency operations center in the County Administration Building.
SAN ANTONIO — The CORFAC International Board of Directors has approved the addition of new global commercial real estate affiliates in China, India and Greece. The additions include Cresval Corporate Advisory Group in Shanghai, China; Narains Corp. in Mumbai, India; and Ktimatiki Real Estate in Athens, Greece. In addition to referring business between CORFAC firms, members share best practices for business operations, marketing support and other resources.
WASHINGTON, D.C. — A 156,766-square-foot office building, located at 2011 L Street NW in Washington, D.C., has sold for $61.75 million. The 10-story office building includes tenants such as The Peace Corps, Institute of Electrical and Electronics Engineers, Economic Consulting Services and Levine, Blaszak, Block, Boothby. Transwestern represented the seller, Equity L Street, in the transaction. Minshall Stewart Properties was the buyer.
DANVILLE, VA. — Augusta, Ga.-based Hull Storey Gibson Cos. has acquired the 731,500-square-foot Piedmont Mall, located at 325 Piedmont Dr. in Danville. The company plans to renovate the property, including an upgrade of the interior and exterior, lighting, entrances, signage, painting and flooring.
CARY, N.C. — CASTO has plans to start the 200,000-square-foot Phase II of Park West Village, a 100-acre, mixed-use development located in Cary. Phase II will include tenants such as a 55,000-square-foot, 14-screen Stone Theaters movie theater, a 52,000-square-foot Gander Mountain and a 6,000-square-foot The Wine Guy Bistro. Gander Mountain will open this fall and Stone Theaters is slated for completion in early 2013.