Southeast

OWINGS MILLS, MD. — Nancy Ferrell of NorthMarq Capital's Baltimore Regional office has arranged a $9.93 million loan for Allyson Gardens II. Located in Owings Mills, the multifamily property offers 196 units. Financing was based on a 10-year term and a 30-year amortization schedule. The financing was arranged for the borrower, A.G. II Limited Partnership, by NorthMarq through its seller-servicr relationship with Freddie Mac.

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MANASSAS, VA. — S.A. Hastings LLC has completed the sale of Hastings Marketplace, a 28.05-acre mixed-use development in Manassas, for $21.6 million. Owings Mills, Md.-based Black Oak Associates has acquired the retail center for $18.1 million, while Richmond American Homes acquired the remaining undeveloped land, which is entitled for commercial and residential use, for $3.5 million. Located at the intersection of Prince William Parkway and Liberia Avenue, the 93,000-square-foot retail center is anchored by a 56,000-square-foot Harris Teeter Food Market and Pharmacy, which opened in last year. The center is currently 73 percent leased and occupied by Harris Teeter, Verizon Wireless and Neibauer Dental Care. Rappaport Retail Brokerage has been retained to lease the remaining space. The undeveloped land is entitled for development of 61 townhomes, 46 single-family homes, eight live/work units, 26 lofts apartments and more than 25,800 square feet of commercial space. Jim Kornick and Matt Clinebell of NorthMarq, along with Michael Gorsage of H&R Retail, represented the seller in the transaction.

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DURHAM, N.C. — Principal Real Estate Investors LLC has completed the disposition of an office tower in Durham. Located at 4820 Emperor Blvd., the 11-story property offers 259,531 square feet of office space. Additionally, the building is LEED Silver certified. The buyer and acquisition price were not released. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller.

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CHARLOTTE, N.C. — Institutional investors advised by J.P. Morgan Asset Management have acquired Elizabeth Square, a 267-unit multifamily property in Charlotte. Constructed in 2009, the property, which offers one-, two- and three-bedroom units, sold for $40.5 or $151,780 per unit. Dean Smith and Blake Okland of ARA represented the seller, Ashburn, Va.-based Woodfield Investments. Elizabeth Square was 93 percent occupied at the time of acquisition.

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CHARLESTON, W.V. — An affiliated entity of Inland American Real Estate Trust has acquired Charleston Marriott in Charleston. Located at 200 Lee Street East, the property sold for $25.5 million. The hotel offers 347 guestrooms, five suites and 17,500 square feet of meeting space. A subsidiary of Forest City Enterprises sold the hotel, which is located within the 897,000-square-foot Charleston Town Center.

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SEBRING, FLA. — Stevens Construction has completed the construction of the Bud & Donna Somers Hospice House and Resource Center for Good Shepherd Hospice in Sebring. Located at 1110 Hammock Road, the 33,636-square-foot hospice house offers 61 beds. The property features private suites, a children's play area, a chapel, a kitchen and a library. Architecture Inc. provided architectural services for the project.

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JACKSONVILLE AND WILMINGTON, N.C. — Walker & Dunlop has provided two loans totaling $8 million for multifamily properties in North Carolina. The 134-unit Cardinal Village in Jacksonville received a $3 million loan. Built in 1964, the property features an outdoor pool, a barbecue area, laundry rooms and a clubhouse. The 10-year loan has a 30-year amortization schedule and was underwritten to a 55 percent loan-to-value with a 1.55x debt service. Cypress Grove, a 208-unit property in Wilmington, received a $5 million, 10-year loan with a 30-year amortization schedule. The loan was underwritten to a 75 percent loan-to-value with a 1.30x debt service coverage ratio. Ryan Greer of Meridian Capital Group originated the loans. Will Baker led the Walker & Dunlop team in the transactions.

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KISSIMMEE AND BONITA SPRINGS, FLA. — Thomas D. Wood & Co. has secured $7.4 million in financing for Dollar General Kissimmee and Bonita Exchange Land. Joe Dear of Thomas D. Wood & Co. arranged a $1.3 million loan for the construction of a build-to-suit, single-tenant retail facility in Kissimmee. Located at 2220 Michigan Ave., the 9,100-square-foot facility will be occupied by Dollar General. The loan has a 75 percent loan-to-value and an 80 percent loan-to-cost. Additionally, Dear secured a $6.1 million loan for Bonita Exchange, a 23.1-acre commercial land site located in Bonita Springs. The loans will be used to refinance existing debt.

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GASTONIA, N.C. — Forsite Development has acquired a 211,000-square-foot former textile mill in Gastonia. The property, which is located at 1925 W. Poplar St., has been leased to WIX Filters and Republic Textile Equipment Co. Terms of the acquisition were not released. Additionally, Forsite has leased its 165,000-square-foot facility, which is located at 1224 Isley Road, to Stanley, N.C.-based US Leisure.

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