FOUNTAIN INN, S.C. —SAATI Americas Corp. has purchased a 260,000-square-foot warehouse from Kemet Electronics for an undisclosed amount. Located at 201 Fairview St. Ext. in Fountain Inn, the property will house SAATI's U.S. Composites and Protection division. The company expects to hire 80 employees in the next few years.
Southeast
WASHINGTON, D.C. — Gables Residential has purchased the 244-unit V at City Vista apartment complex from a group composed of Lowe Enterprises, CIM Group, Bundy Development Corp. and the Neighborhood Development Co. The property, which is located at the intersection of 5th and K streets in Washington's 1.3 million-square-foot City Vista development, was traded for an undisclosed amount. Jorgen Punda and David Reece of Gables Residential helped close the deal. Deutsche Bank Berkshire Mortgage provided a Fannie Mae loan to finance the purchase.
JACKSONVILLE, FLA. — W.G. Mills has completed the $69.5 million Atlantic Coast High School for Duval County Public Schools. SchenkelShultz Architecture designed the 303,000-square-foot school, which is located at 9735 R.G. Skinner Road in Jacksonville. The property includes classrooms, a 1,621-seat gym and am 840-seat auditorium.
MIAMI BEACH, FLA. — Sunstone Collins has purchased the 409-room Royal Palm Hotel in an online auction through the Miami Dade Clerk of Courts for $126.1 million. Jones Lang LaSalle Hotels arranged the foreclosure sale for a court-appointed receiver. The resort hotel is located at 1545 Collins Ave. in Miami Beach and is within walking distance to the Miami Beach Convention Center. Amenities at the property, which was built in 2002, include two outdoor pools, a fitness center, four meeting rooms and a restaurant.
NORTH BETHESDA, MD. — Turner Construction Co. is planning to break ground on a 649,000-square-foot office building in North Bethesda's 32-acre North Bethesda Center mixed-use project. Upon completion in July 2012, the 14-story property will house 1,300 federal government employees. The $69 million project was designed to Silver LEED standards.
WEST PALM BEACH, FLA. — John Broussard, Douglas Mandel and Adam Kristol have represented both parties in the $5 million sale of the Century Village Medical Office. Located at 100-110 Century Blvd. in West Palm Beach's Century Village community, the office property spans 28,346 square feet. Tenet Healthcare and Walgreens rent 60 percent of the building.
SOUTHEAST — Carlton Exchange has been retained to auction off more than $63 million in non-performing loans. The assets are located in Florida, Louisiana and Georgia, and include hospitality and other commercial properties, and land. Properties include a 130-room Days Inn and a portfolio of commercial condos in Bradenton, Fla.; a 115-room hotel in Fort Myers, Fla.; and a Holiday Inn Express in New Orleans. The online auction is ongoing on a bid-now basis.
CHARLOTTE, N.C. — Henderson Global Investors North America of Chicago has sold the 426-unit Addison Park apartment complex to a private buyer for an undisclosed price. Located at 6225 Hackberry Creek Trail in Charlotte, the property was constructed in 1999 by Fairfield Development. Blake Okland and Dean Smith of Apartment Realty Advisors' Charlotte office represented the seller.
PEMBROKE PINES, FLA. — Demeter Pembroke Pines has purchased a 7.64-acre vacant land parcel in Pembroke Pines from Duke Realty Corp. for $4.65 million. The company intends to develop the parcel, which is located at the northeast corner of Interstate 75 and Pembroke Road, as a Keiser University campus. NAI Rauch Weaver Norfleet Kurtz & Co.'s Michael and Jennifer Scarpino represented the buyer. Richard Levinson of CB Richard Ellis represented Duke Realty.
KNOXVILLE, TENN. — Tammy Tate of Love Funding has arranged two loans totaling $10.87 million for apartment properties in Knoxville. Tate secured $5.436 million for the 252-unit Sutter Mill Apartments, which is located at 1101 Sutters Mill Lane. Amenities include a pool and activity courts. A $5.437 million loan was secured for the 235-unit Meadowood Apartments, which is located at 4000 Pleasant Ridge Road. The 35-year loans carry a 4.63 percent interest rate.