HAMMOND, LA. — A private owner has borrowed a $6.3 million Fannie Mae loan for the 102-unit Tangi Lake Townhomes in Hammond. The 10-year loan comes with a 6.04 percent interest rate. Scott Waddington of Arbor Commercial Funding's Tampa Bay, Fla., office arranged the loan, which was financed by Eustis Mortgage.
Southeast
MIAMI — GFII DVI Cardel Doral has sold the 121-room Hampton Inn & Suites Miami-West to Apple Real Estate Investment Trust for an undisclosed amount. The Miami property features a pool, a fitness room, 570 square feet of meeting space and a business center. Mark Fair and Chris Dewey of Jones Lang LaSalle Hotels represented the seller.
CHARLESTON, S.C. — Hunt Construction Group of Tampa, Fla., will break ground Friday on an $8 million Naval Brig expansion at Charleston's Naval Weapons Station. The property is being built for the Department of Defense. Orlando, Fla.-based SchenkelShultz Architecture designed the project.
SUWANEE, GA. — Mitsubishi Electric & Electronics has leased 126,144 square feet from Duke Realty Corp. at the Horizon Business Center in Suwanee. Mitsubishi's HVAC Division will occupy the space, which is located at 2800 Vista Ridge Drive. The property is now fully leased. Jones Lang LaSalle's Alan Clayton represented the tenant. Brian Sutton served as in-house representation for Duke Realty.
JACKSONVILLE, FLA. — Dawn Properties has obtained a $5.4 million loan for its 244-unit Grande Pointe Apartments, which is located at 5800 University Blvd. West in Jacksonville. The 38-year-old property was renovated last year. Mutual of Omaha Bank financed the 2-year, adjustable rate loan. Travis Anderson of Holliday Fenoglio Fowler's Dallas office secured the financing.
OAKLAND PARK, FLA. — Strategic Storage Trust has purchased a 1,600-unit self-storage property from a private seller for an undisclosed price. The 93,700-square-foot facility is located at 4950 N. Dixie Highway in Oakland Park. Five of the development's units offer storefront retail space. This marks Strategic Storage Trust's fifth acquisition in Florida.
RALEIGH, N.C. — Phoenix Telecom Solutions has leased a 186,000-square-foot warehouse from Meridian Development Group in Raleigh. The property, which Meridian purchased in 2007 and was formerly occupied by Flextronics, is located at 4400 Emperor Blvd. Mike Lewis of the Lewis Group represented the tenant. Cassidy Turley's Chris Norvell and Jackson Rives represented the landlord.
CONWAY, ARK. — John Edwards of Arbor Commercial Funding's Boston office has obtained a $5.5 million loan for the 166-unit June Beene Garden apartment complex in Conway. Magna Bank financed the 10-year loan. The finacing carries a 5.77 percent interest rate and a 26-year amortization schedule.
ROCKY MOUNT, N.C. — RCG Ventures has purchased the 95,000-square-foot Tiffany Square from a private party for an undisclosed amount. The property, which is located adjacent to the Golden East Mall in Rocky Mount, is anchored by JC Penney, Belk, Books-A-Million, Best Buy and Petco. Parker Blanchard served as in-house representation for RCG Ventures.
ST. CHARLES, MD. — Shamin Hotels has opened the 130-room Hilton Garden Inn Waldorf at the intersection of St. Partick's Drive and Smallwood Drive in St. Charles. The 80,886-square-foot property features a 2,465-square-foot ballroom, a convenience market, a business center, a workout facility and a pool. St. Charles is a 9,100-acre planned community that is being positioned as a model of sustainable development.