WASHINGTON, D.C. — Strategic Hotels & Resorts has closed on a $130 million limited-recourse loan for the Four Seasons Washington, D.C. The financing is interestå only and not subject to principal amortization through the full loan maturity date. Deutsche Bank Securities originated the financing and Eastdil Secured served as the placement agent.
Southeast
DURHAM, N.C. — Measurement, Inc. has chosen Choate Construction Co. to build the 91,150-square-foot Measurements Building, a mixed-use property to be located at the corner of Morris and Hunt streets in Durham. The five-story building will contain 65,950 square feet of Class A office space above 13,100 square feet of street-level retail space. Also included in the project is a 12,000-square-foot parking garage.
JACKSONVILLE, FLA. — Jacksonville-based Grubb & Ellis Phoenix Realty Group and Mohr Partners have brokered the $2.6 million sale of a 57,516-square-foot industrial building located at 5300 Shad Rd. in Jacksonville. Bobby Gatling and John Richardson with Phoenix and John McDaniel of Mohr Partner's Dallas office represented the seller, Noland Properties. Buddy Register of Cushman & Wakefield's Jacksonville office represented the buyer.
CHESAPEAKE, VA. — Parkway Properties has sold Greenbrier Towers I & II, located in the Greenbrier area of Chesapeake, Va., for $16.7 million. The properties total 172,000 square feet and were 87 percent occupied at the time of close.
LARGO, FLA. — Marcus & Millichap has brokered the $14.3 million, lender-approved short sale of the 444-unit Chaparral Apartments located at 601 E. Rosery Rd. in Largo, Fla., for $14.3 million to a Massachusetts-based partnership. Norman Eastwood of Marcus & Millichap's Dallas office and Tal Frydman of the firm's Fort Lauderdale, Fla., office represented the seller, a Houston-based partnership.
COCONUT CREEK, FLA. — CB Richard Ellis has negotiated the $5.8 million sale of a 66,524-square-foot mixed-use property and a McDonald's outparcel located at 4400 W. Sample Rd. in Coconut Creek to Township Shoppers. David Donnellan and Scott O'Donnell, both with CBRE's Boca Raton, Fla., office, represented the seller, SCP-Capri Township Plaza Owner.
BOCA RATON, FLA. — The 31,632-square-foot Boca Raton Comprehensive Cancer Center, located at 21010 N. State Rd., has received $3 million in financing through Thomas D. Wood & Co.'s relationship with Summit Investment Partners. The borrower secured the 10-year loan with a 20-year amortization schedule to purchase the property, which was vacant at the time of acquisition.
MIAMI — Cushman & Wakefield has signed two expansion/renewal leases, totaling 83,479 square feet in new space, at Aventura Industrial Center, located at 555 NE 185th St. in Miami. First, the DFASS Group signed a 52,770-square-foot lease expansion, bringing its total occupancy to 193,558 square feet at the property. Kansas Marine Co. expanded its lease by an additional 30,709 square feet, bringing it's occupancy to 109,267 square feet. Wayne Ramoski, Brian Smith and Audley Bosch of Cushman & Wakefield's Miami office represented the landlord, Principal Real Estate Investors, in lease negotiations with DFASS Group, who was represented by Cushman & Wakefield, and Kansas Marine Co., represented by Gordon Messinger from Terranova Corp.'s Miami office.
TAMPA, FLA. — Plaza Advisors has arranged the $18.9 million sale of the 215,713-square-foot Horizon Park Shopping Center, located on Hillsborough Avenue in Tampa. Babies “R” Us, Northern Tool and Equipment, Office Depot, Save-A-Lot and Guitar Center anchor the center, which was 91 percent leased at closing. Anthony Blanco with Plaza Advisors' Miami office and Jim Michalak and Lenard Williams with the firm's Tampa office represented the seller, an entity affiliated with Phillips Edison. The buyer was an entity of Forge Capital Partners.
GAINESVILLE, FLA. — The 396-unit The Courtyards, a student housing apartment complex adjacent to the University of Florida in Gainesville, has sold for $16.65 million. Mike Ryals of Bosshardt Realty Services' Gainesville office, along with Dorothy Jackman and Travis Prince of Marcus & Millichap's Tampa, Fla., office represented the undisclosed seller. Ryals also represented the buyer, a Florida-based private investor.