TAMPA — A five-property REO multifamily portfolio, located in northeast Tampa, has been sold for $1.4 million. The properties, which total 106 units, include Bent Tree, Villa Seville, Towering Pines, Holly Court and Julie Court. Kevin Kelleher, Bob Goldfinger and Darron Kattan of Franklin Street Real Estate Services represented the seller, an unnamed lender who foreclosed on the properties in June of this year, in the transaction and procured the buyer, a local private investment group.
Southeast
FAYETTEVILLE, N.C. — A 1-acre property, located in Fayetteville, has been sold for $1.31 million. The property contains a 4,000-square-foot building that is currently leased to Dental Works. Jordan Kaufman of Chicago-based Quantum Real Estate Advisors represented the seller, a Pinehurst, N.C.-based private developer, and Chris Hansen of Marcus & Millichap's Palo Alto, Calif., office represented the North Carolina-based private 1031 exchange buyer.
JACKSONVILLE, FLA. — Jacksonville-based Regency Centers Corp. has received a $250 million unsecured term loan. Wells Fargo Securities arranged the 5-year loan, which will be funded in January of 2012. The loan matures in December of 2016, but can be paid off at par any time prior to maturity.
MT. PLEASANT, S.C. — Woodfield Investments has broken ground on the 280-unit Woodfield Long Point, located off Wando Park Boulevard in Mt. Pleasant. CNL Financial provided equity for the project and Wells Fargo Bank provided debt. CF Evans is the general contractor for the development. Completion is slated for spring 2012.
CHIPLEY, FLA. — Marcus & Millichap has arranged the $3.8 million sale of a 13,225-square-foot retail property, located at the intersection of Main Street and South Boulevard in Chipley, which is currently net-leased to CVS/pharmacy. Leon Brockmeier of Marcus & Millichap's Tampa, Fla., office, along with Patrick O'Halloran of the firm's Atlanta office, represented the seller, a Florida-based developer, in the transaction. Al Palacios of Marcus & Millichap's Miami office represented the buyer, an Omaha, Neb.-based private investor.
CAPE CORAL, FLA. — CBRE has negotiated the $1.48 million sale of a 2,940-square-foot retail building, located at the corner of Skyline Boulevard and Trafalgar Parkway in Cape Coral. Dan O'Berski and Matt Fredrickson of CBRE's Fort Myers, Fla., office represented OTOB, the seller, in the transaction. The buyer was undisclosed.
MACON, GA. — The 88,000-square-foot former Rock-Tenn Converting facility, located on 6.4 acres in the Airport Industrial Park in Macon, has been sold to Perry, Ga.-based Gilmer Warehousing. Arthur Barry, III, of Macon-based Coldwell Banker Commercial Eberhardt & Barry represented Rock-Tenn, the seller, in the transaction and procured the buyer.
WASHINGTON, D.C. — Walker & Dunlop's hospitality division, lead by Andrew Coleman of the firm's Bethesda, Md., office has arranged $23.4 million in acquisition financing for the 96-unit The Georgetown Inn, located at 1310 Wisconsin Ave. NW in Washington, D.C. Cardinal Bank provided the 5-year loan, which has a 25-year amortization schedule.
GASTONIA, N.C. — CTL Packaging USA has selected Red Rock Developments to develop its new $58 million, 226,000-square-foot facility at Gastonia Technology Park, located one mile north of Interstate 85 in Gastonia. The new facility will house CTL's North American operations and is expected to create 131 jobs during the next 4 years. Construction will begin in November or early December.
GREENVILLE, S.C. — TD Bank has plans to undergo a $17.1 million renovation of its 300,000-square-foot corporate operations, located at 200 Carolina Point Pkwy. in Greenville. As a result, TD Bank will create more than 1,400 jobs in the next 3 to 5 years. The buildings are designed to achieve LEED Gold certification. Construction is slated to begin in early 2012.