SILVER SPRING, MD. — KBR Building Group’s Vienna, Va., office has been contracted by a joint venture sponsored by Priderock Capital Partners to construct the 210-unit The Heritage at Georgia Avenue in Silver Spring, a more than $30 million project. The property will be a nine-story structure connected to two existing buildings on the 1.88-acre property, one of which will be completely renovated under this same contract. The Preston Partnership is the architect of record. Construction is slated to begin immediately.
Southeast
MAITLAND, FLA. — Brookwood Financial Partners has acquired the 204,237-square-foot Maitland 200, a Class A multi-tenant office building located at 2301 Maitland Center Pkwy. in Maitland. The building is 95.7 percent leased to tenants including Camp Dresser McKee, Digital Risk, the Florida Department of Revenue, ADP TotalSource and Penn Mutual Life Insurance Co. Christian Lee, Charles Foschini and Christopher Apone of CBRE’s South Florida offices secured the financing from JP Morgan, and Ron Rogg, also of CBRE, represented the seller.
CHARLOTTE & RALEIGH, N.C. — Kevin Jenkins of NorthMarq Capital’s Charlotte office arranged combined refinancing totaling $11.58 million for three multifamily properties in North Carolina. The 132-unit Chase on Commonwealth, refinanced at $4.73 million, and the 125-unit The Landings on Farmhurst, refinanced for $3.7 million, are both located in Charlotte. The 88-unit The Oaks, located in Raleigh, was refinanced at $3.15 million. Financing was secured through Arbor Commercial Funding DUS and was based on a 10-year term and a 30-year amortization schedule.
ST. PETERSBURG, FLA. — Marcus & Millichap has brokered the $1.17 million sale of the 59-unit Courtyard Apartments, located at 2400 15th Ave. South in St. Petersburg. Michael Regan and Francesco Carriera of Marcus & Millichap’s Tampa, Fla., office represented the seller, a limited liability company in St. Petersburg. Regan, Carriera and Nicholas Meoli of CBRE’s Tampa, Fla., office represented the buyer, a limited liability company.
FLORIDA — Indianapolis-based H.H. Gregg has opened 10 new stores in South Florida. The stores are located in Miami, Broward and Palm Beach counties, and will bring the total number of H.H. Gregg stores in Florida to 33. The retailer currently operates 190 stores nationwide.
GOLDSBORO, GA. — Todd Crouse of NorthMarq Capital’s Raleigh office has arranged $19.9 million in first mortgage financing for the 288-unit Reserve at Bradbury Place, located at 560 West New Hope Rd. in Goldsboro. The loan was based on a 10-year term with a 30-year amortization schedule. Financing was secured through AmeriSphere, a Fannie Mae DUS Lender.
LAKE WORTH, FLA. — Israel-based group PC Townhomes has purchased the 160-unit Palm Club Apartments for $7.8 million. Richard Tarquinio, Robert Given and Calum Weaver of CBRE’s Miami office marketed Palm Club for sale on behalf of a court-appointed receiver.
LAFAYETTE, LA. — Homewood Suites by Hilton has opened a four-story, 129-room hotel at 201 Kaliste Saloom Rd. in Lafayette. The property is owned by KS Hotel Associates and managed by Dimension Development Co. Homewood Suites by Hilton Lafayette-Airport offers studio, one- and two-bedroom suites and features a 24-hour on-site pantry, fitness center, outdoor pool with hot tub and gazebo, tennis court, 24-hour executive business center, outdoor grills and approximately 3,400 square feet of flexible meeting space.
JACKSONVILLE, FLA. — Michael Mele of Marcus & Millichap’s Tampa, Fla. office arranged the $1.25 million sale of the 52,800-square-foot, 546-unit Mandarin Mini Storage, a self-storage facility located at 10601 San Jose Blvd. in Jacksonville. The property is comprised of eight one-story buildings and 12 parking spaces. The units range from 50 to 200 square feet. Mele represented both the seller, a REIT, and the buyer, a California-based company.
STUART & FORT LAUDERDALE, FLA. — J. Raymond Construction has been contracted for two new Fresh Market stores in Stuart and Fort Lauderdale. The Stuart location will be at 2300 South East Ocean Blvd., and the Fort Lauderdale location will be at 424 North Federal Hwy. Each of the new stores will be approximately 30,000 square feet. The Stuart location is slated for completion in December 2011 and the Fort Lauderdale location is slated for January 2012. These are the 6th and 7th Fresh Market stores which J. Raymond has constructed.