WASHINGTON, D.C. — Ari Firoozabadi of Marcus & Millichap has brokered the sale of a 37-unit apartment complex between two private parties for $3.3 million. The property is located at 2517 Mozart Place in Washington. JP Morgan Chase provided a 15-year loan for the purchase at 65 percent loan-to-value and a 6.2 percent interest rate.
MIAMI — Carlisle Development Group has broken ground on the 90-unit Beacon Apartments in Miami's Overtown neighborhood. The $25 million, 13-story project is geared toward low-income residents. Completion is expected in 18 months.
NORTH CHARLESTON, S.C. — McShane Construction Co. will soon start work on the 60-unit West Yard Lofts affordable housing project for The Landmark Group in North Charleston. The 75,982-square-foot property is located at 2375 Noisette Blvd. on the former Charleston Navy Yard, which closed in 1995. Designed by Martin Riley Associates Architects, the property will be part of The Navy Yard at Noisette mixed-use project. Delivery is slated for December.
WASHINGTON, D.C. — The Washington Department of Health has signed a 150,000-square-foot lease with CIM Group for office space at Union Square, which is located at 899 N. Capitol St. in Washington's NoMa neighborhood. Renovations are currently under way at the property, which consists of two nine-story buildings. The buildings were designed to LEED Silver standards and are connected by a common central plaza.
ATLANTA — Fairwood Capital has purchased the 119-unit Hampton Inn & Suites Atlanta Downtown from a partnership led by Cooper Hotels. The sale price was not disclosed. The hotel, an 11-year-old conversion of a historic office building, is located at 161 Spring Ave. in Atlanta. Fairwood plans on undertaking a phased renovation of the entire building, which features 1,300 square feet of meeting space and a fitness center.
FORT MYERS, FLA. — Tom Strauss and Matt Yaniglos of LandQuest Commercial have represented Regions Bank in its sale of the Arborgate Shopping Center to Goodwill Industries of Southwest Florida. The property, which at full build-out will span more than 60,000 square feet, is located at 10676 Colonial Blvd. in Fort Myers.
ORLANDO, FLA. — SGA Holdings has signed a 79,000-square-foot lease with Long Ridge Industrial Portfolio for warehouse space in Orlando. The property is located at 6855 Presidents Drive. Colliers Arnold's Matt Sullivan represented the tenant in the transaction. William Bradford and Tom McFadden of Southern Commercial Real Estate Advisors represented the landlord.
FLORIDA — Bill Reichel and Peter Filomena of Reichel Realty & Investments have been tapped as receivers for five properties in Florida. Bill Reichel will be in charge of Palm Court Plaza, a 50,000-square-foot office property located in North Palm Beach. Filomena will handle two multifamily properties in Boynton Beach and a third in Fort Lauderdale. He will also be the receiver for Casa Loma Motel in Lake Worth.
PEMBROKE PINES, FLA. — Marcus & Millichap has brokered the $3 million sale of the 75-unit Trin-Jam Apartments between two private parties. The property is located at 1921-1971 SW 69th Ave. in Pembroke Pines. The firm's Craig Porter and Darryl Matus represented both parties in the transaction.
ORLANDO AND APOPKA, FLA. — Rebman Properties has brokered two warehouse leases in the Orlando area totaling 109,875 square feet. The firm's Roger Rebman and Lyle Nelsen represented Oakmont Industrial Group in its 60,000-square-foot lease to Golden State Foods. The property is located in the Northwest Distribution Center in Orlando. Greg Rebman of Rebman Properties represented ABC Supply Co. in its 49,875-square-foot lease to Andes Fiber and Paper. The property is located at 2550 Clark St. in Apopka.