LAUDERDALE LAKES, FLA. — Marcus & Millichap has brokered the $14.1 million sale of the 245-unit Hawaiian Palms, located at 3540 NW 50th Ave. in Lauderdale Lakes. Craig Porter and Darryl Matus of the firm's Fort Lauderdale, Fla., office represented the seller, a Plantation, Fla.-based limited liability company, and secured the buyer, a South American private investor.
BURTONSVILLE, LAUREL & COLUMBIA, MD. — Beech Street Capital has provided $36.65 million in Fannie Mae conventional loans to refinance a portfolio of three Maryland apartments communities. The properties include: the 208-unit Knight's Bridge II in Burtonsville, the 275-unit Fox Rest in Laurel and the 300-unit Autumn Crest in Columbia. The fixed-rate loans have a 10-year term with a 30-year amortization schedule. The transaction was originated by Meridian Capital Group.
CHESAPEAKE, VA. — First Potomac Realty Trust has added two new tenants to its industrial properties in Chesapeake. Carrier Enterprises signed a 7-year, 63,012-square-foot lease at the 1.09 million-square-foot Crossways Commerce Center and Serco signed a 5-year, 54,054-square-foot lease at the 712,500-square-foot Diamond Hill Distribution Center. Ken Benassi of CB Richard Ellis' Norfolk, Va., office represented Carrier Enterprises in its lease negotiations and Steve Rancki of Jones Lang LaSalle's McLean, Va., office and Gregg Christoffersen of JLL's Hampton Roads, Va., office represented Serco.
HOLLY SPRINGS, GA. — Colliers International has arranged the $8.8 million sale of the 128,667-square-foot Village Shoppes at East Cherokee, located on Old Highway 5 in Holly Springs. Publix anchors the center, which went into foreclosure in September 2010. Joe Montgomery and Tony D'Ambrosio of Colliers International's Shopping Center Investment Sales Team in Atlanta represented the undisclosed seller. The buyer was a locally-based private equity group.
MARIETTA, GA. — Marquis Investments has acquired Casa Mia Apartments in Marietta from Freddie Mac for $4.8 million. The 400-unit complex has been renamed Marquis Place and includes a swimming pool, lighted tennis courts and a playground. Star Residential will manage the property for Marquis Investments.
WEST PALM BEACH, FLA. — Marcus & Millichap has arranged the $4.36 million sale of the 60-unit Villas of Palm Beach, located at 2236 Laurel Way in West Palm Beach. William Berthiaume of the firm's Fort Lauderdale, Fla., office represented the seller, a Miami-based limited liability company, and procured the buyer, a Lake Worth, Fla.-based limited liability company who was in a 1031-exchange.
RICHMOND, VA. — Cushman & Wakefield/Thalhimer has arranged the $4.3 million sale of the 76,164-square-foot Villa Park I office building, located at 8040 Villa Park Dr. in Richmond. Mark Douglas and Brian Berkey of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Orix Capital Markets, in the transaction. The buyer was Villa Park I, LLC.
MEMPHIS, TENN. — Atlanta-based Hodges Ward Elliott (HWE) has negotiated the sale of the 243-room Holiday Inn Select Memphis East in Memphis for an undisclosed price. Tom Woodward with Hodges Ward Elliott represented the seller, Hospitality Properties Trust. The buyer was undisclosed.
BETHESDA, MD. — The Bainbridge Cos. has started construction on the 200-unit Bainbridge Bethesda, a 17-story high-rise in Bethesda with 7,200 square feet of ground floor retail. The property is being designed to meet LEED Silver certification, and includes amenities such as a rooftop swimming pool, garden terrace, fitness center, social activity center and cyber cafe with a business lounge. Turner Construction Co. is the general contractor for the development and Sami Kirkdil of SK&I Architectural Design Group is the designer. Construction is slated for completion in the summer of 2013.
ORLANDO, FLA. — Marcus & Millichap has arranged the $3.6 million sale of the three-building, 43,813-square-foot International Drive Portfolio, a retail portfolio of properties located at 6454 and 6464 International Dr. in Orlando. Mark Thompson of the firm's Orlando office represented the seller, a private investor. The buyer a private investor procured by Southeast Commercial Development.