Southeast

IRONSHORE CAPITAL ACQUIRES CONDO PROJECT IN JACKSONVILLE, FLA.

by admin January 19, 2011

JACKSONVILLE, FLA. — An affiliate of Ironshore Capital has acquired Water's Edge in Jacksonville. Located at 123 First St. South, the seven-story condominium building has 12 residences, ranging in size from 2,000 to approximately 4,000 square feet, available. The units feature gourmet kitchens with Bosch Thermadore appliances, granite countertops, oversized porcelain tile flooring and designer cabinetry, 9- to 10-foot ceilings, hardwood floors and carpeting. Ironstone is having a grand opening for the property on January 22, 2011. Terms of the transaction were not released.

January 19, 2011

228-UNIT STUDENT HOUSING PROPERTY SELLS IN LEXINGTON, KY.

by admin January 19, 2011

LEXINGTON, KY. — Kayne Anderson Real Estate Advisors (KAREA) has acquired 5 Twenty Four Angliana, a student housing community in Lexington. Serving the University of Kentucky, the 228-unit property features 740 beds. The property was 99 percent occupied at the time of acquisition. Terms of the transaction were not released. kevin Larimer, Cole Whitaker and Todd Stofflet of Hendricks & Partners represented the seller/developer, Lexington Development LLC, in the transaction.

January 19, 2011

Multifamily Southeast

BAYWATER APARTMENTS FETCHES $8.75 MILLION IN TAMPA, FLA.

by admin January 19, 2011

TAMPA, FLA. — Franklin Street Real Estate Services has brokered the sale of Baywater Apartments in Tampa. Built in 1985 and located at 6910 W. Waters Ave., the 176-unit, 140,800-square-foot property sold for $8.75 million or $49,716 per unit. The property consist of 17 two-story buildings offers a mix of one- and two-bedroom floor plans. At the time of closing, the property was 93 percent occupied. Darron Kattan, Bob Goldfinger and Kevin Kelleher of Franklin Street represented the seller, Merecorp, in the transaction. The buyer was not disclosed.

January 19, 2011

Multifamily Southeast

$23.99 MILLION LOAN ARRANGED FOR MARYLAND APARTMENT PROPERTY

by admin January 19, 2011

ANNAPOLIS, MD. — NorthMarq Capital has arranged $23.99 million in financing for Annapolis Roads Apartments. Located at One Eaglewood Road, the property offers 282 multifamily units. Financing was based on an 8-year term and a 30-year amortization schedule. Michael James and Robert Ranieri of NorthMarq arranged the financing for the undisclosed borrower through NorthMarq's affiliate AmeriSphere Multifamily Finance LLC.

January 19, 2011

Retail Southeast

PGM CONSTRUCTION BREAKS GROUND ON TWO PROJECTS IN TENNESSEE

by admin January 18, 2011

CLARKSVILLE AND FAIRVIEW, TENN. — Brentwood, Tenn.-based PGM Properties has broken ground for the construction of two retail projects in Tennessee. In Clarksville, the company is building a 54,817-square-foot Publix grocery store at Madison Street Commons. The store is scheduled to open in February 2012. In Fairview, PGM is developing Bowie Commons at Highway 100 and Chester Road. The project will include a 45,600-square-foot Publix, 14,400 square feet of retail space, a 6,400-square-foot outparcel building and four outparcel fronting Highway 100. The second phase of Bowie Commons will include 12,000 square feet of retail space. The first phase, including the Publix, is slated to open in March.

January 18, 2011

Office Southeast

MERITEX ACQUIRES ATLANTA OFFICE/WAREHOUSE PORTFOLIO

by admin January 18, 2011

ATLANTA — Meritex Enterprises has acquired a ten-building office/warehouse portfolio in Atlanta. The Class A, multi-tenant properties total 726,000 square feet and range in size from 41,000 to 122,000 square feet. The properties are located in the northern suburbs of Atlanta, including Lawrenceville, Norcross, Smyrna and Kennesaw, Ga. The portfolio is currently 95 percent leased with 40 tenants. The seller was Young Ventures and The Estate of Maxwell W. Young. The acquisition price was not released.

January 18, 2011

Office Southeast

40,000-SQUARE-FOOT OFFICE BUILDING SELLS IN MARYLAND

by admin January 18, 2011

COLUMBIA, MD. — Lund Trading has acquired 6822 Oak Hall Lane, a 40,000-square-foot flex/office building in Columbia. Oak Hall LLC sold the property for $3.7 million. The buyer plans to relocate to its office and distribution operations into approximately 25,000 square feet of the new facility. The balance of the building has been leased to Looks Salon and Spa. Allan Riorda of NAI KLNB represented the buyer; Chuck Breitenother and Tim Gardner, also of NAI KLNB, represented the seller in the transaction.

January 18, 2011

Industrial Southeast

175,920-SQUARE-FOOT WAREHOUSE FETCHES $7.5 MILLION IN TAMPA, FLA.

by admin January 17, 2011

TAMPA, FLA. — TCG I Tampa LLC, an affiliate of Trident Capital Group, has acquired a 175,920-square-foot warehouse facility in Tampa. MA & TN Sandifer Partnership sold the property, which is located at 4506 Acline Dr., for $7.5 million. Marc Goldberg of NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller in the transaction.

January 17, 2011

Office Southeast

TWO OFFICE PROPERTIES SELL IN RIDGELAND, MISS.

by admin January 17, 2011

RIDGELAND, MISS. — Jackson, MIss.-based Concourse 200 & 400 Holdings, an affiliate of Duckworth Realty, has acquired two multi-tenant Class A office properties in Ridgeland. Totaling 95,000 square feet, the properties are located at 1062 and 1068 Highland Colony Parkway. Current tenants at the properties include BankPlus, GranthamPoole CPA, Marchetti Robertson & Brickell Insurance & Bonding and The Wright Law Firm. Duckworth Realty will manage and lease the properties. Terms of the transaction were not released.

January 17, 2011

Retail Southeast

DOLLY CREEK STATION SELLS FOR $4.61 MILLION IN ALABAMA

by admin January 17, 2011

VESTAVIA HILLS, ALA. — Tampa, Fla.-based Arcis Investments has completed the disposition of Dolly Creek Station, a retail center in Vestavia Hills. Birmingham, Ala.-based The Barber Companies acquired the 25,200-square-foot center for $4.61 million. Located at 2409 Acton Road and built in 1997, the property was 100 percent leased to a variety of tenants, including Realty South, Richard's BBQ and Acton Road Pediatrics, at the time of closing. Mark Shellabarger of CB Richard Ellis represented the buyer; Dan Anderson of Birmingham-based Engel Realty represented the seller in the transaction.

January 17, 2011

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