ATLANTA — Cousins Properties Inc. has signed the first six tenants to the $100 million Phase I of Emory Point, a mixed-use property located at 1727 Clifton Rd. in Atlanta. The retailers include: a 14,338-square-foot CVS/pharmacy; a 4,512-square-foot Jos. A. Bank; a 2,995-square-foot Marlow's Tavern; a 1,891-square-foot Solar Dimensions; a 1,692-square-foot Which Wich; and a 1,117-square-foot Carriage Cleaners. The first phase, which will include 80,000 square feet of retail space and 443 apartments, is slated for completion in the fall of 2012.
Southeast
CHARLOTTE, N.C. — A joint venture between Charlotte-based Ferncroft Capital and Dallas-based Crow Holdings has purchased the 102,000-square-foot Northlake Commons Shopping Center, located at 9310 Center Lake Dr. in Charlotte, for $22 million. Tenants include Chick-fil-A, Chili's, Olive Garden, On The Border, Red Robin, Panera Bread, AT&T, Sprint, Moe's Southwest Grill, Shane's Rib Shack, Men's Wearhouse and Fox and Hound. New South Properties has been retained to lease and manage the center.
ORMOND BEACH, FLA. — The 194-unit Coral Sands Resort, located at 1009 Ocean Shore Blvd. in Ormond Beach, has sold for $6.15 million. Charles Wayne of Daytona Beach, Fla.-based Charles Wayne Properties represented Ocean Shore Investments, the seller, in the transaction. The buyer was Island Club Associates.
ATLANTA — Cushman & Wakefield has negotiated the sale of the 387-room Renaissance Concourse Atlanta Airport Hotel, located at 1 Hartsfield Centre Pkwy. in Atlanta. Tom McConnell and Ernest Lee of Cushman & Wakefield Sonnenblick Goldman's New York office represented the seller, an institutional owner. The buyer was an investment group between Clearview Hotel Capital and a real estate fund managed by Oaktree Capital Management.
ORLANDO, FLA. — CBRE has arranged the $1.8 million sale of the 45,370-square-foot Washington Shores Plaza, located at 2100 Bruton Blvd. in Orlando. CBRE's Orlando office represented the seller, Berkadia, in the REO transaction. The buyer was CRP II – Washington Shores, an entity affiliated with Tampa, Fla.-based Community Reinvestment Partners II, a private equity fund sponsored by Forge Capital Partners and DeBartolo Development. The center is currently 39 percent leased, however, the purchaser secured a 22,500-square-foot lease with Save-A-Lot during the due diligence period.
LAFAYETTE, LA. — Walker & Dunlop has secured $18.98 million in financing for the 242-unit Ansley Walk Apartments, located at 401 Guidry Rd. in Lafayette. Stephen Farnsworth of Walker & Dunlop's New Orleans office arranged the 7-year loan with a 30-year amortization through Freddie Mac's CME program.
WASHINGTON, D.C. — Centerline Capital Group has secured a $328 million Freddie Mac CME structure to finance a portfolio of eight multifamily properties in suburban Washington, D.C. The owner is DP Portfolio Investors, a joint venture between Pantzer Properties and Dune Real Estate Partners, which purchased the portfolio in early 2011. The properties total 2,580 units and are located in Alexandria, Ashburn, Herndon, Leesburg and Massas, Va., and in Gaithersburg and Germantown, Md. John Beam of Centerline's Atlanta office originated the transaction.
BOCA RATON, FLA. — BVCC Corp. has purchased the 105,000-square-foot Boca Village Corporate Center, located at 4955 Technology Way in Boca Raton, from a partnership led by Butters Group for $32.85 million. Christian Lee, Charles Foschini and Christopher Apone of CBRE's Miami office, along with Scott O'Donnell of CBRE's Boca Raton office, represented the seller in the transaction.
VIRGINIA BEACH, VA. — The 18-acre London Bridge Commerce Center, a mixed-use property located at 130 London Bridge Rd. in Virginia Beach, has sold for $6 million. Chris Zarpas of Norfolk, Va.-based S.L. Nusbaum Realty Co. represented The Seay Family, LLC, the seller, in the transaction. The buyer was the City of Virginia Beach.
DANIA, FLA. — Shery Investments has purchased the 33-unit Royal Palm Apartments, located at 80-90 SW. 8th Ave. in Dania, for $1.2 million. John Crotty and David Metalonis of Colliers International's Fort Lauderdale, Fla., office represented the seller, a private lender, in the transaction.