FAIRFAX, VA. — NorthMarq Capital has arranged $25 million in first mortgage financing for an unsubordinated ground lease located at 8301 Anderson Dr. in Fairfax. The 34.63-acre site is occupied by the 752-unit Amberleigh Apartments. Financing was based on a 25-year term with a 5-year interest-only amortization, then based on a 30-year amortization schedule. Jeffrey Robertson of NorthMarq's Miami office arranged the financing for the borrower through NorthMarq's relationship with New York Life Insurance Co.
WEST PALM BEACH, FLA. — KBS Real Estate Investment Trust II (KBS REIT II) has acquired Emerald View at Vista Center in West Palm Beach. The 139,471-square-foot, two-building office complex sold for $36 million. The property is situated on 9.8 acres at 2054 and 2056 Vista Parkway. An affiliate of Boca Raton, Fla.-based Procaccio Development Corp. sold the property.
DAYTONA BEACH, FLA. — Cole Real Estate Investments has purchased a portion of Volusia Square, a 349,544-square-foot retail community center in Daytona Beach. Atlanta-based Retail Planning Corp. sold the space for $31 million. The acquired portion totals 22.4 acres and is located at 2455 W. International Speedway Blvd. The property, which was renovated in 2010, was 97.6 percent occupied at the time of closing. Brad Peterson of Holliday Fenoglio Fowler represented the seller in the transaction.
MADISON, ALA. — Greensboro, N.C.-based Bells Partner LLC and Wachovia Bank (Wells Fargo) have completed the disposition of Carrington Cover Apartments in Madison. Built in 1985, the property offers 514 units in a mix of one-, two- and three-bedroom floorplans. New York-based Rohdie Group purchased the property, which offers 540,000 rentable square feet, for $28.42 million.
WASHINGTON, D.C. — The Peterson Companies and The Bozzuto Group have partnered to develop a multifamily community at National Harbor, a 300-acre, mixed-use development in Washington, D.C. Located at the intersection of American Way and Fleet Street, the property will offer approximately 35o residences and 25,000 square feet of street-level retail space. Community amenities will include a pool, a fitness center, a cyber cafe and billiards/gaming room, a media room and a Zen garden. Construction is expected to begin in fall 2011, with completion scheduled for 2013.
ARLINGTON, VA. — JAIR LYNCH Development Partners and MacFarlane Partners have acquired Abingdon House Apartments for an undisclosed price. Located at 815 18th St. in the Pentagon City area of Arlington, the mid-rise property offers 82 apartment units. Christopher Doerr and Rachel Ley of Grubb & Ellis represented the seller, The Brick Companies, in the transaction.
BERKELEY COUNTY, W.V. — Macy's Inc. is planning to develop a 1.3 million-square-foot fulfillment center near Martinsburg in Berkeley County. Construction is scheduled to begin in spring 2011, with operations commencing in April 2012. The company is currently deciding between two sites in Berkeley County. When fully operational, the facility will employ approximately 1,200 full- and part-time associates year round.
TEMPLE HILLS, MD. — Rockville, Md.-based The Donaldson Group and its equity partner, New York-based Angelo, Gordon & Co., have acquired Heather Hill Apartment Homes, which is located at 5837 Fisher Road in Temple Hills. The 459-unit property sold for $38 million. Situated on 21 acres, the property is comprised of 18 low-rise buildings. The seller, New York-based Tarragon Corp., sold the property as part of a reorganization following Chapter 11 bankruptcy in 2009. The buyer plans to renovate the property, including community amenities and residential units. Stacey Milam and Victor Nolletii of Marcus & Millichap represented the seller.
WASHINGTON, D.C. — KPMG LLP has signed a long-term lease for two floors at 1801 K Street in Washington, D.C. The approximately 600,000-square-foot building recently underwent a complete renovation and redevelopment designed by Skidmore, Owings & Merrill. In December 2011, KPMG will begin occupying approximately 76,000 square feet of the property, which is seeking LEED Gold certification. The landlord, Somerset Partners, was represented by David Bevirt, Tom Golsen and Carroll Cavanaugh of Jones Lang LaSalle (JLL); Gregory Knoop of Somerset Partners represented the ownership; and KPMG was represented by Phil Leibow, Chris Bynum and Alex Lassar of JLL. KPMG is currently located at 2001 M Street. Terms of the lease were not disclosed.
ATLANTA — Pebblebrook Hotel Trust has received a $52.5 million secured loan from Goldman Sachs Commercial Mortgage Capital. The 5-year loan, which carries a 4.88 percent fixed-annualized interest rate, was collateralized by the 422-unit InterContinental Buckhead Hotel in Altanta's Buckhead district. Proceeds from the loan will be used to fund future acquisitions and for general business purposes.