ASHLAND, KY. —Columbus, Ohio-based Glimcher Realty Trust has closed on a 10-year, $42.1 million mortgage loan for the 419,633-square-foot Ashland Town Center, located at 500 Winchester Ave. in Ashland. Goldman Sachs Commercial Mortgage originated the loan.
Southeast
ST. PETERSBURG & VENICE, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale of two multifamily properties in Florida. DT Group Development sold the 276-unit Sienna Bay Apartments, located at 4th St. North in St. Petersburg, to Harbor Group International for $19.5 million. Fairfield Residential Co. sold the 243-unit Monterrey Apartments, located at 1001 Center Rd. in Venice, to Beachwold Residential for $11.5 million. Jamie May of the firm's Tampa office represented both buyers and sellers.
BALTIMORE — NorthMarq Capital has arranged $5 million in first-mortgage financing for the Wabash & Sequoia Apartments, located at 3801-3811 Wabash Ave. in Baltimore, two apartment properties totaling 197 units. The 10-year loan, which has a 30-year amortization schedule, was arranged through Freddie Mac.
PEMBROKE PINES, FLA. — CVR Hollywood has sold a 6,303-square-foot former Roadhouse Grill, located at 8525 Pines Blvd. in Pembroke Pines, to Caribbean Investment for $1.1 million. Steven Miller of Fort Lauderdale, Fla.-based The Rotella Group represented the seller in the transaction.
KEY WEST, PEMBROKE PINES & APOPKA, FLA. — Winn-Dixie has selected Orlando, Fla.-based Cuhaci & Peterson Architects to remodel three stores in Florida. The properties are: a 35,000-square-foot store off Roosevelt Boulevard in Key West; a 45,000-square-foot store off Pine Boulevard in Pembroke Pines; and a store off Orange Blossom Trail in Apopka, which will be 45,000 square feet upon completion.
MIAMI BEACH, FLA. — A joint venture between Bethesda, Md.-based Urgo Hotels and Washington, D.C.-based The Carlyle Group has purchased the 75-room Blue Moon Hotel and the 71-room Winterhaven Hotel, both in Miami Beach, for $26.7 million. Both properties will undergo renovations, which will upgrade public spaces and all guest rooms. Jordan Ray of Mission Capital Advisor's New York office represented the buyer in the transaction, placing the debt with a regional bank.
TAMPA, FLA. — Kite Realty Group Trust has acquired the 81,000-square-foot Lithia Crossings in Tampa for $13.25 million in an off-market transaction. Stein Mart anchors the center, which is 95.5 percent leased.
FORT STEWART, GA. — The Southeast Division of McCarthy Building Cos. has been selected by The U.S. Army Corps of Engineers, Savannah District, as the construction manager for the renovation of Winn Army Hospital in Fort Stewart. The renovation, designed by Leo A Daly, includes a 65,000-square-foot addition and a 1,000-square-foot renovation to the existing hospital. The project will pursue LEED Silver certification. Construction will begin in July with estimated completion in December 2012.
TUSCALOOSA, ALA., ROSWELL, GA. & GULFPORT, MISS. —Michaels has awarded West Palm Beach, Fla.-based Kennedy Contractors three contracts to retrofit stores in Tuscaloosa, Roswell and Gulfport. Construction on all three sites will begin on July 1 with completion scheduled for fall of this year.
PORT CHARLOTTE, FLA. — Marcus & Millichap has arranged the sale of the 352-unit All Store Self Storage, located at 7001 Gasparilla Rd. in Port Charlotte, for $1.75 million. Michael Mele and Adam Wides of the firm's Tampa office represented the seller, a Washington, D.C.-based institutional owner, and procured the California-based buyer.