AVENTURA, FLA. — Coconut Grove, Fla.-based Aztec Group has secured $8.5 million in bridge financing for the 44,500-square-foot Biscayne Harbour Shops, located at 181st Street and Biscayne Boulevard in Aventura. Howard Taft and Charles Penn of Aztec Group secured the financing through a New York-based real estate finance company. Terms of the 2 year facility include a 60 percent loan-to-value ratio and a floating rate. The buyer is Blue Green Capital, an affiliate of Aventura-based Triarch Investment Group.
CORAL GABLES, FLA. — Moss & Associates has been selected to build the new $27 million, 119,000-square-foot student activity center on the Coral Gables campus of the University of Miami. Construction will begin in June and completion is slated for August 2013. The center will contain a Rathskellar restaurant, retailers, a banquet room and space for student organizations and gatherings. The project will be built to meet LEED Silver Certification and will be designed by Miami-Based Arquitectonica and Pittsburgh-based WTW Architects.
ELKIN, N.C. — Binswanger has brokered the sale of a 416,007-square-foot industrial facility located on 37.4 acres at 300 Candle Wycke Lane in Elkin. The facility features Interstate 77 frontage. Pittsburgh Glass Works purchased the property and plans to open a new manufacturing facility in it. Doug Faris of Binswanger represented the seller, Midwest-CBK Inc., in the deal. The acquisition price was not disclosed.
CONCORD, N.C. — NorthMarq Capital has secured $14 million in Freddie Mac financing for Cloister of Concord, a 360-unit apartment community located at 843 Devonshire Drive in Concord. The first mortgage carries a 10-year term and a 30-year amortization schedule. Bill Matone of NorthMarq's Charlotte office secured the funds on behalf of the undisclosed borrower.
ATLANTA — Morris, Manning & Martin law firm has negotiated taking the top six floors, totaling approximately 140,000 square feet, of the Campanile Building in Atlanta. The company will move its headquarters from the Atlanta Financial Center where it currently leases 114,000 square feet. The landlord of the building is Dewberry Capital. Jones Lang LaSalle represented the tenant in the transaction.
WASHINGTON, D.C. — Cassidy Turley has arranged $13.5 million in debt financing for the 74,234-square-foot, Class A office building located at 1111 18th Street in Washington, D.C. The property is 100 percent leased to the GSA. Phil Mudd and Christian Miles of Cassidy Turley's Washington, D.C. office procured the loan from a life insurance company on behalf of the owner, Jack I. Bender & Sons, a partnership affiliated with principals of Blake Real Estate. Steve Lustgarten of Blake Real Estate represented the partnership in loan negotiations.
CHATTANOOGA, TENN. — Aventura, Fla.-based Trade Street Capital has purchased Fontaine Woods Apartments in Chattanooga. The property is situated at the base of Signal Mountain and is less than 7 miles from the new Volkswagen plant. It contains 263 apartments as well as a clubhouse with a fitness center and a resort-style swimming pool. The new owner plans to complete a capital improvements program in the near term. The seller and acquisition price were not released.
CORBIN, KY. — Webbed Sphere Inc. has purchase the former American Greetings building, a more than 1 million-square-foot industrial property located on 108 acres in Corbin. Bruce Isaac of NAI Isaac Commercial Properties and Dov Sorotzkin of Newmark Knight Frank represented the seller. The purchase price was not released.
NAPLES, FLA. — Globalvest Investments Group has purchased a 45,878-square-foot retail building located at 5015 Tamiami Trail in Naples from LNR Partners for $3.5 million. The CB Richard Ellis team of Larry Foster and Mike Concilla represented LNR, and David Stevens of IPC represented Globalvest.
ELKIN, N.C. — Midwest-CBK has sold its 416,007-square-foot industrial building, located at 300 Candle Wycke Ln. in Elkin, to Pittsburgh Glass Works. The building will be used as a new manufacturing facility to make automotive glass products. The seller was represented by Doug Faris of Binswanger's Charlotte, N.C., office.