ATLANTA — Locally based Post Properties has opened The Ritz-Carlton Residences in Atlanta. The 129 residences comprise the top 17 floors of 3630 Peachtree, a 34-story, mixed-use development in Buckhead. Residential amenities include concierge services, valet parking, a dedicated car service and assistance with personal arrangements. The Residences will be managed by The Ritz-Carlton Hotel Company. In additional to The Residences, 3630 Peachtree offers 425,000 square feet of Class A office space, retail and restaurant space.
OXON HILL, MD. — Laurel, Md.-based Dragone Realty Investments has acquired Azalea Woods, a multifamily property located at 1101 Kennebec St. in Oxon Hill. Built in 1963, the 305-unit property features three-story, garden-style buildings and a five-story, mid-rise building. Miami-based LNR Partners sold the property for $9.5 million. Bill Roohan, Mike Muldowney, Andrew Boyer, Michael Rudolph, Jonathan Greenberg, Brian Margerum, Martha Hastings and Tim Bonebrake of CB Richard Ellis' Washington, D.C., Multi-Housing Team brokered the transaction.
HARTSELLE, AL. — Columbia Cottage – Hartselle LLC has acquired Sierra Springs in Hartselle for $1.8 million or $56,000 per unit. LSJ Investments sold the assisted-living property, which was built in 2000. At the time of acquisition, the property was 87 percent occupied. Ryan Maconachy and Scott Corbin of ARA Seniors' Dallas office represented the seller in the transaction. The property will be managed by Huntsville, Ala.-based Cottage Senior Living.
HOUMA, LA. — Walker & Dunlop has provided a $12.6 million refinance loan for Houma Highlands, an apartment development located in Houma. The multi-phase development currently consists of eight three-story, walk-up apartment buildings and a clubhouse with a swimming pool, fitness center, playground and car wash. The borrowers will use the loan to help finance the second phase of the development. The loan features a 7-year capped ARM with a 1-year lockout, 1 percent exit and a 30-year amortization schedule. Stephen Farnsworth of Walker & Dunlop originated the loan and led the Walker & Dunlop team.
HUNTSVILLE, ALA. — A Philadelphia-based investor has purchased Virginia College, a 51,171-square-foot facility in downtown Huntsville, for $9.87 million. Situated on 5.43 acres, the former Kroger building was redeveloped in 2010. Virginia College is on a 15-year, absolute NNN lease with 1 percent rent bumps annually. Greenville, S.C.-based RealtyLink developed and sold the property.
CLEVELAND, TENN. — Baton Rouge, La.-based MD Ruston Properties, on behalf of a special servicer, has acquired Bradley Square Mall in Cleveland. The 406,845-square-foot regional shopping center is anchored by Belk, JCPenney, Sears and Kmart. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle's Atlanta office represented the seller in the transaction. The seller and acquisition price were not released.
WINTER HAVEN, FLA. — Michael Regan, Francesco Carriera and Nicholas Meoli of Marcus & Millichap's Tampa, Fla., office have brokered the sale of The Landings and Brandywyne, a two-property multifamily portfolio in Winter Haven. A Florida-based investor acquired the 141-unit portfolio sold for $3 million or approximately $21,000 per unit. The seller was a Pennsylvania-based developer.
MCCOMB, MISS. — Mississippi-based McComb Lodging LLC has acquired the Comfort Inn in McComb in an all-cash transaction. Located along Interstate 55, the hotel offers 55 guestrooms, high-speed Internet access, premium cable television, an outdoor pool and a fitness center. Hodges Ward Elliott's Select Service Division represented the undisclosed seller in the transaction. The sales price was not released.
JACKSONVILLE, FLA. — Mercedes-Benz USA has opened its 415,000-square-foot regional headquarters facility in Jacksonville. Located on International Parkway, the facility houses the sales operations Southern region office, a parts distribution center, a quality evaluation center and a learning and performance center. the project was designed by Orlando-based Cuhaci & Peterson Architects with MFC Customized Solutions providing industrial design services and Elkins Constructors serving as general contractor.
FORT MYERS, FLA. — Hope Hospice & Community Services has acquired a 46.3-acre land parcel, located at the northwest corner of Six Mile Cypress Parkway and Metro Parkway in Fort Myers. The buyer plans to development a high-quality care facility on the site, which was acquired for $7.56 million. Michael Doyle of LandQwest Commercial represented Hope Hospice in the transaction. The seller was not released.