WASHINGTON, D.C. — Cassidy Turley has secured $26.1 million in construction financing on behalf of Donatelli Development, Gragg & Associates and Invesco Real Estate for the 144-unit Highland Park Phase II, located above the Columbia Heights Metro station at 14th and Irvine streets in Washington, D.C. The project will adjoin the existing 229-unit Highland Park Phase I. Completion is slated for the first quarter of 2013.
Southeast
RIVERVIEW, FLA. — VF Imagewear has signed a 220,000-square-foot, full-building lease at Oak Creek I, located at 8221 Eagle Palm Dr. in Riverview. Rick Narkiewicz of CB Richard Ellis' Tampa office represented the landlord in the transaction and John Jenkins, also of CBRE's Tampa office, represented the tenant.
ST. PETERSBURG, FLA. — Colliers International has negotiated the sale of the 74,500-square-foot BayWalk, a shopping center located at 2nd Ave. N. in St. Petersburg, for an undisclosed price. Michael Milano of Colliers International's Tampa Bay, Fla., office represented CW Capital, the seller, in the transaction. Bill Edwards, a Tampa Bay-based entrepreneur, purchased the center.
TAMPA, FLA. — CB Richard Ellis has arranged the $12 million sale of the 244-unit Swan Lake Apartments, located at 3401 Lakeview Dr. N. in Tampa. John Selby and Jim Bobbitt of CBRE's Tampa office represented the seller, JER. The buyer was Canada-based Toulon Capital Partners.
COLUMBIA, S.C. — Chris Orr of Charlotte, N.C.-based Romans Properties has brokered the $2.14 million sale of a 10,520-square-foot office building, located at 2125 Adams Grove Rd. in Columbia. Orr represented the seller, Rea Investments, in the transaction and procured the buyer, Chicago-based Brauvin Real Estate.
CHARLOTTE, N.C. — Kevin Jenkins of NorthMarq Capital's Charlotte office has arranged a combined $10.76 million in financing for two Charlotte apartment complexes. The 75-unit Sharonridge Apartments received a $3 million mortgage with a 10-year term and a 30-year amortization schedule. The 360-unit Somerstone Apartments received a $7.76 million loan based on a 2-year term. NorthMarq closed mortgages through Arbor Commercial Funding.
CHESAPEAKE, VA. — Communications Test Design has signed a 72,558-square-foot lease at the Indian River Distribution Center, located at 2601 Indian River Rd. in Chesapeake. Bobby Phillips of Cushman & Wakefield — Thalhimer's Newport News, Va., office, and Patrick Mumey of the firm's Virginia Beach, Va., office represented Ashley Capital, the landlord, in the lease transaction. Pennsylvania-based Jackson Cross Partners and S.L. Nusbaum Realty Co. represented the tenant.
TAMPA, FLA. — Franklin Street Real Estate Services has brokered the $3.35 million sale of the 78-unit Villas at Legends Field Apartments, located at 6059 N. Church Ave. in Tampa. Darron Kattan, Bob Goldfinger and Kevin Kelleher of Franklin Street's Tampa office represented the seller, a Florida-based private apartment owner, and procured the buyer, a California-based private investor who completed a Section 1031 exchange by acquiring three properties in the Tampa Bay market.
LAUDERHILL, FLA. — Deerfield Beach, Fla.-based SIKON Construction has broken ground on the $2.5 million renovation of the 40,000-square-foot Shoppes of Inverrary, located at West Oakland Park and Inverrary boulevards in Lauderhill. The project includes the addition of a 2,500-square-foot building, parking lot improvements and new storefronts and facades. Completion is slated for November 2011.
POMPANO BEACH, FLA. — The 20,521-square-foot Waverly Shopping Center, located at 437 E. Atlantic Blvd. in Pompano Beach, has been sold for $1.6 million. David Donnellan of CB Richard Ellis' Boca Raton, Fla., office, along with Todd Weintraub of CBRE's Miami, Fla., office represented JR Enterprises, the seller, in the transaction. Gene Snyder Co. represented Waverly Pompano Center, LLC.