ATLANTA — Fairwood Capital has purchased the 119-unit Hampton Inn & Suites Atlanta Downtown from a partnership led by Cooper Hotels. The sale price was not disclosed. The hotel, an 11-year-old conversion of a historic office building, is located at 161 Spring Ave. in Atlanta. Fairwood plans on undertaking a phased renovation of the entire building, which features 1,300 square feet of meeting space and a fitness center.
FORT MYERS, FLA. — Tom Strauss and Matt Yaniglos of LandQuest Commercial have represented Regions Bank in its sale of the Arborgate Shopping Center to Goodwill Industries of Southwest Florida. The property, which at full build-out will span more than 60,000 square feet, is located at 10676 Colonial Blvd. in Fort Myers.
ORLANDO, FLA. — SGA Holdings has signed a 79,000-square-foot lease with Long Ridge Industrial Portfolio for warehouse space in Orlando. The property is located at 6855 Presidents Drive. Colliers Arnold's Matt Sullivan represented the tenant in the transaction. William Bradford and Tom McFadden of Southern Commercial Real Estate Advisors represented the landlord.
FLORIDA — Bill Reichel and Peter Filomena of Reichel Realty & Investments have been tapped as receivers for five properties in Florida. Bill Reichel will be in charge of Palm Court Plaza, a 50,000-square-foot office property located in North Palm Beach. Filomena will handle two multifamily properties in Boynton Beach and a third in Fort Lauderdale. He will also be the receiver for Casa Loma Motel in Lake Worth.
PEMBROKE PINES, FLA. — Marcus & Millichap has brokered the $3 million sale of the 75-unit Trin-Jam Apartments between two private parties. The property is located at 1921-1971 SW 69th Ave. in Pembroke Pines. The firm's Craig Porter and Darryl Matus represented both parties in the transaction.
ORLANDO AND APOPKA, FLA. — Rebman Properties has brokered two warehouse leases in the Orlando area totaling 109,875 square feet. The firm's Roger Rebman and Lyle Nelsen represented Oakmont Industrial Group in its 60,000-square-foot lease to Golden State Foods. The property is located in the Northwest Distribution Center in Orlando. Greg Rebman of Rebman Properties represented ABC Supply Co. in its 49,875-square-foot lease to Andes Fiber and Paper. The property is located at 2550 Clark St. in Apopka.
WEST PALM BEACH, FLA. — CB Richard Ellis brokered the sale of a two-story, 50,155-square-foot office building, which is located at 4100 Okeechobee Blvd. in West Palm Beach. 4100 Okeechobee Building Owner LLC acquired the property for $3.45 million or $68.78 per square foot. The building is currently 66 percent occupied by one tenant, Child and Family Connections. CBRE’s Scott O’Donnell, Dominic Montazemi, Kirk Nelson and Miguel Alcivar represented the buyer and the seller, New York-based Capital Resources Southeast, in the transaction.
KNOXVILLE, TENN. — An undisclosed Mississippi company has acquired Papermill Self Storage, a 55,067-square-foot self-storage facility in Knoxville. Located at 3980 Papermill Road, the property sold for $2.02 million. Michael Mele and Anne Williams of Marcus & Millichap represented the Texas-based seller in the transaction. Terms of the transaction were not disclosed.
ORLANDO, FLA. — Avalon Park Group is planning to develop an 80,000-square-foot assisted-living and memory care facility on Tanja King Parkway and Avalon West Boulevard near downtown Avalon Park in Orlando. The company has received approval for its pre-application for the $15 million project. Designed by Orlando-based Baker Barrios Architects, the 90-unit, 128-bed facility will feature six neighborhoods, each with 15 studios or one-bedroom units. Additionally, the property will feature outreach rooms, a wellness area, occupational and physical therapy services, a salon and a spa.
NORCROSS, GA. — Wells REIT II has received $500 million in new financing for future operations. The 3-year, unsecured revolving credit facility was issued by a syndicate of lenders led by JPMorgan Chase Bank NA. Wells originally sought $350 million in financing, but received additional interest from lenders. The REIT will use the financing to enhance and add to its real estate portfolio. The current portfolio includes 91 buildings in 23 states, Washington, D.C., and Russia, covering more than 20 million square feet. Wells REIT II is advised by Wells Real Estate Funds.
