WASHINGTON, D.C. — Deutsche Bank Berkshire Mortgage has arranged a 35-year, $19.9 million loan for the 300-unit Chastleton Cooperative, a multifamily property located along 16th Street in Washington, D.C. HUD's FHA 223 (a)(7) program provided the loan.
Southeast
BALTIMORE — Walker & Dunlop has provided $13 million in refinancing for the more than 800,000-square-foot South Highland Marine Terminal, located in Baltimore. Ted Hermes and Tyler Blue of Walker & Dunlop's Bethesda, Md., office arranged the 15-year loan with a 25-year amortization schedule.
PINECREST, FLA. — Miami-based Aztec Group has secured $2.5 million in financing for the 32,665-square-foot Dadeland North Shopping Center, located at the corner of Southeast Dixie Highway and Ludlam Road in Pinecrest. Jason Shapiro and Kevin Miliffe arranged the 10-year loan through a local bank.
TAMPA, FLA. — Morris Flamingo — Stephan has signed a 90,000-square-foot lease, located at 500 S. Falkenburg in Tampa. Ed Melo of Resource Realty Group represented the tenant in the lease transaction. Jason Aprile and Elliott Ross of Clearwater, Fla.-based The Ross Realty Group represented the landlord, U.S. Industrial Falkenburg.
WAYNESVILLE, N.C. — CBL & Associates has started construction on the 127,500-square-foot Waynesville Commons, located at the intersection of Interstate 74 and Hyatt Creek Road in Waynesville. An 85,000-square-foot Belk will anchor the retail center, which will also include Michaels, PetSmart and 11,000 square feet of specialty stores. Completion is slated for October 2012.
SMYRNA AND NORCROSS, GA. — Brad Simmel and Shea Campbell of CB Richard Ellis' Atlanta office have brokered two apartment sales on behalf of a national lender totaling $13.67 million. The 386-unit Casa Los Pinos, located on Graves Road in Norcross, has been renamed Pines of Norcross by its new owner, Cortland Partners. The 188-unit Greens at Windy Hill is located on Windy Hill Road in Smyrna.
NAPLES, FLA. — C-B Associates has sold a 44,248-square-foot medical office park, located at 6400 Davis Blvd. in Naples, to an undisclosed buyer for $6.5 million. Current tenants include Naples Community Hospital, Naples Diagnostic and Imaging Center, Collier Healthcare Service and LabCorp. Doug Olson of Fort Myers, Fla.-based Commercial Property Southwest Florida, a Cushman & Wakefield alliance member, represented the seller in the transaction.
FORT MYERS, FLA. — Fort Myers-based LandQwest Commercial has brokered the $6.31 million sale of a 76,783-square-foot retail property, located at 13170 S. Cleveland Ave. in Fort Myers. The building was formerly occupied by a Robb & Stucky, a furniture store. The seller was National Retail Properties.
NEWPORT NEWS, VA. — The Firoozabadi Group of Marcus & Millichap and the Tax Credit Group have arranged the $5.41 million sale of the 132-unit Lexington Commons, located at 14534 Old Courthouse Way in Newport News. Artcraft Management was the seller and Capital Vision Management was the buyer. Ari Firoozabadi, Chris Chadwick, John Mullen and Kyle Tangney of The Firoozabadi Group's Washington, D.C., office, along with the Tax Credit Group's Seattle office, represented both parties in the transaction.
MIAMI — Costex Corp. has purchased a 180,000-square-foot industrial building, located at 7901-8187 NW 71st St. in Miami, for $10.3 million from Seagis Property Group. Devin White, David Albert and Ronald Marrero of CB Richard Ellis' Miami office represented the buyer in the transaction. Jim Armstrong and Michael Waite of Miami-based The Easton Group represented the seller.