FLORIDA — Steve Ervin of Walker & Dunlop has secured $162.2 million in financing for a 16-property healthcare portfolio in Florida. The loan was financed through the HUD LEAN 232/223(f) program and is the largest HUD loan closed since 2005, according to a release. The 35-year loan carries a 4.95 percent interest rate and a 35-year amortization.
SEMINOLE, FLA. — Kitson & Partners has purchased a 60-acre tract of land in Seminole known as Bay Pines from a private party for an undisclosed amount. The original owner had tried to develop multifamily housing on the site, but Kitson plans to pursue a mixed-use project. The acreage is located across the street from the 297-acre Bay Pines VA Medical Center.
WASHINGTON, D.C. — A subsidiary of Forest City Enterprises has secured a $46.1 million loan for the 170-unit Foundry Lofts. The complex is located in The Yards mixed-use project in Washington. The 41-year loan, which was funded through $47.7 million of New Issue Bond Program bonds, carries a 4.66 percent interest rate. The District of Columbia Housing Agency and the U.S. Department of Housing and Urban Development worked to finalize the loan.
LAKE CITY, FLA. — Lake City Commons Retail has sold the 66,510-square-foot Lake City Commons shopping center to an affiliate of the Illinois-based Inland Group for $10.55 million. Located at the interchange of U.S. Highway 90 and State Road 247 in Lake City, the 2-year-old property is anchored by a 45,600-square-foot Publix. Cliff Taylor of CB Richard Ellis' Jacksonville, Fla., office and brokers in CBRE's Miami office represented the seller.
RESTON, VA. — Edens & Avant has purchased the 120,195-square-foot Hunters Woods shopping center from a private party for an undisclosed amount. The property is located at the intersection of Colts Neck Road and Glade Drive in Reston. The property, which is anchored by Safeway, will be redeveloped next year.
GREENVILLE, N.C. — Atlas 1 SPC has sold a 121-room hotel to Preena for an undisclosed amount. The two-story Greenville property was formerly branded as a Baymont Inn. Preena plans to undertake upgrades to the property and affiliate it with a national franchise. Ed James of Mumford Co. represented the seller.
ATLANTA — Georgia State University has purchased the former Wyndham Garden Hotel and The Baymont Inn and Suites from a private party for an undisclosed amount. The properties, which combined include 453 rooms, are located adjacent to Georgia State's main campus at 175 Piedmont Ave. in Atlanta. The school will convert both properties into student housing. Hunter Realty's Bob Hunter and Kyle Stevenson represented the seller.
MIAMI — Simon Property Group and Institutional Mall Investors have borrowed $79 million in refinancing for The Shops at Sunset Place. Located at 5701 Sunset Drive in Miami, the property includes AMC Theaters, LA Fitness, Gameworks and Splitsville. Manny de Zarraga, Luis Castillo, Danny Finkle, Claudia Steeb and John Pelusi, Jr., of Holliday Fenoglio Fowler arranged the financing. JP Morgan Securities funded the 10-year, fixed-rate loan.
ROCK HILL, S.C. — Cleveland-based Weston has sold a 120,000-square-foot warehouse to Guy M. Turner Inc. for $1.8 million. The property is located at 2724 Commerce Drive in Rock Hill's Weston Commerce Center. Piedmont Properties/CORFAC International's Lester Osborn and A. Scott Hensley represented Weston in the transaction. CB Richard Ellis' Frank Larsen and Steve Lowe represented the buyer.
CHATTANOOGA, TENN. — Birmingham, Ala.-based Red Mountain Development Co. has purchased a 26-acre tract of land from DPTI in order to build a 282-unit luxury apartment complex. The property is located on Dayton Boulevard in Chattanooga and will be complete next spring. Planned amenities include a pool, a fitness center, a business center and a Wii room. Grandbrige Capital financed the purchase with a $22 million loan. Herman Walldorf & Co.'s Rudy Walldorf brokered the transaction.