LEXINGTON, KY. — Red Mortgage Capital has closed and underwrote $6.79 million of non-recourse financing for two student housing properties owned by Campus Rental Properties. The complexes, which are located in central Lexington adjacent to the University of Kentucky, are the 96-unit University Village, Phase I and the 24-unit Woodland Village. Red Mortgage Capital, pursuant to Fannie Mae’s Dedicated Student Housing Program, underwrote the 10-year loan.
MEMPHIS, TENN. — Marcus & Millichap has negotiated the $8.5 million sale of the 217-unit Brentwood Place Apartments, located at 1835 Sycamore View Rd. in Memphis. Patrick Jordan of Marcus & Millichap's Memphis office represented both parties in the transaction, Memphis-based Grant Investments, the seller, and the buyer, Slidell, La.-based Southern Breeze, LLC.
LAVERGNE, TENN. — CB Richard Ellis has arranged the $3.6 million purchase of a 184,434-square-foot industrial building, located at 1045 Firestone Parkway in the Interchange City Industrial Park in LaVergne. Steve Preston and Douglass Johnson of CBRE's Nashville, Tenn., office represented the buyer, Wonton Foods. The seller was Texas-based Orix Capital Markets.
SALISBURY, MD., & WINCHESTER, VA. — H&R Retail has arranged two leases on behalf of Hobby Lobby: a 56,800-square-foot lease at North Point Plaza in Salisbury and a 55,793-square-foot lease at South Pleasant Valley Road in Winchester. David Ward and Ben Hoskins with H&R Retail's Baltimore office represented Hobby Lobby in both lease transactions. Jim Crilley of the firm's Bethesda, Md., office represented the landlord in the Salisbury transaction.
OCALA, FLA. — The Shopping Center Group has arranged two new leases for Bealls Outlet and Ross Dress for Less at the 222,000-square-foot Six Gun Plaza, located in East Ocala along Silver Springs Boulevard. Bealls Outlet signed a 7-year lease for 35,500 square feet and is expected to open this fall. Ross Dress for Less signed a 10-year lease for 32,000 square feet and is expected to open in 2012. Kevin Hipes of The Shopping Center Group's Orlando, Fla., office represented SouthEast Properties, the owner, in the lease transactions. John Dottore and Marc Sullivan of the same office represented Ross Dress For Less. Bealls was self-represented.
NORTH EAST, MD. — Atlanta-based Weeks Robinson has purchased Trade Center 95, a 600,000-square-foot warehouse and 32 acres of vacant land, located at 4000 Pulaski Hwy. in North East. The building contains a cross-dock with a 32-foot clear height and a large truck area. The pad-ready site will allow Weeks Robinson tot expand the building to more than 1.2 million square feet.
MIAMI — CB Richard Ellis has arranged the $2.7 million sale of a 28-unit apartment complex, located at 1818 Meridian Ave. in Miami. Calum Weaver of the firm's Miami office represented the undisclosed seller. Domus Group was the buyer.
CRAWFORDVILLE, FLA. — Franklin Street Real Estate Services has arranged the $2.38 million, REO sale of the 96-unit Bridlewood Apartments, located at 33 Home Stretch Ln. in Crawfordville. Darron Kattan, Bob Goldfinger and Kevin Kelleher of Franklin Street's Tampa, Fla., office represented the undisclosed seller. Steve Sussman of Marcus & Millichap's Miami office represented the buyer, a New York-based investor.
LITHIA SPRINGS, GA. — Bruce Foster of NorthMarq Capital's Atlanta office has arranged $14.5 million in first mortgage financing for the 308-unit Tree Lodge Apartments, located at 1600 Blairs Bridge Rd. in Lithia Springs. The 10-year loan has a 30-year amortization schedule and was arranged for the borrower, Strand Communities, through MetLIfe.
HOLLYWOOD, FLA. — Hollywood-based CORFAC International and Boise, Idaho-based Zoliath.com have entered into a joint marketing agreement to cooperate in certain co-marketing activities in the United States. The agreement means Zoliath.com can immediately add more than 1,200 new members from CORFAC's commercial brokers and property managers. This will enhance CORFAC's online presence by leveraging search engine marketing technology on the Zoliath site while at the same time promoting CORFAC's brand and generating new business leads. Financial terms of the joint agreement were undisclosed.