FAYETTEVILLE, ARK. — Springdale, Ark.-based A.L.S. Management has purchased the 135-unit South Creekside apartment building from The Bank of Fayetteville for $4.7 million. Located at 900 N. Leverett Ave. in Fayetteville, the property features a pool and a tennis court. John Clayton, Aaron Hargrove and Tim McKay of Little Rock, Ark.-based Hendricks & Partners brokered the sale.
MIAMI — Atlanta-based Jamestown has acquired the 308-unit Vista View Apartments from Sky Development of Aventura, Fla., for $31.25 million. The company plans to rebrand the property, located north of Sunny Isles Boulevard in Miami, as Beach Place. Before the purchase, Vista View had been named in foreclosure and fraud lawsuits, and Jamestown subsequently purchased the development for a significant discount.
ARKANSAS AND TENNESSEE — New York City-based New York Life Insurance has sold two former Circuit City buildings in Arkansas and Tennessee for $1.45 million and $1.14 million, respectively. Little Rock, Ark.-based Starlite Hotel Group purchased the North Little Rock, Ark., property for use as a hotel. Cross Point Community Church bought the Franklin, Tenn., store and will convert it into a church. Including a Texas building, which was also part of the sale, the properties span a total of 89,838 square feet. Richard Frolik and Derrick Almassy of CB Richard Ellis represented the seller.
KNOXVILLE, TENN. — HI World's Fair Park LLC has purchased the 293-room Holiday Inn-World's Fair Park from a group of owners led by Franklin Haney, a Chattanooga, Tenn., developer, for an undisclosed amount. The hotel, located on Henley Street in downtown Knoxville, was constructed for the 1982 World's Fair Exposition. The buyers have begun a 2-year renovation of the property, which is proximate to the Knoxville Convention Center.
DULUTH, GA. — An undisclosed landlord has leased 45,347 square feet of office space at Satellite Place 800 to NCR. The property is located across from Gwinnett Place Mall in Duluth. During the third quarter of last year, NCR leased 120,000 square feet at Satellite Place 700. Additional tenants in the 117-acre Satellite Place development include AT&T and Liberty Mutual. John Ferguson and John Shlesinger of CB Richard Ellis’ Atlanta office represented NCR in the lease; Heather Lamb and Rob Binion of Lavista Associates represented the landlord.
VOLUSIA COUNTY, FLA. — Carter-Maytown Road Land Trust has sold a 3,321-acre parcel of land to St. Johns River Water Management District for $20.06 million. The land is located on SR 415 in Volusia County. Development plans have not been announced. Daryl Carter of Maury L. Carter & Associates represented the seller.
RICHMOND, VA. — Cedar Broad Associates has purchased 2.18 acres of land from BAT Properties in order to build a 204-unit multifamily development. The acreage, which is located at the intersection of 18th and East Broad streets in Richmond, sold for $3.2 million. Jeffrey Cooke of Thalhimer brokered the sale.
MACON, GA. — HD Supply Plumbing f/k/a Hughes Plumbing & Supply LTD has sold its plumbing materials warehouse to Macon Area Habitat for Humanity for an undisclosed amount. The 53,686-square-foot property is located on 4.5 acres at 690 Holt Ave. in Macon. Art Barry of Coldwell Banker Commercial Eberhardt & Barry in Macon and Rick Vaughn of the Atlanta office of Colliers Spectrum represented the seller.
PORT WENTWORTH, GA. — SMS Hotels has sold the 61-room Country Inn and Suites Savannah to Hayley Sheth Investments for an undisclosed amount. Located on Interstate 95 in Port Wentworth, the property is situated near the Savannah-Hilton Head International Airport. Mumford Co. represented the seller.
NORTH CAROLINA — NorthStar Realty Finance Corp. has sold 18 senior housing facilities to a N.C.-based private investment group for $95 million. The properties are all located in North Carolina. NorthStar will receive approximately $36 million in cash and $56 million in mortgage debt and accrued interest. The price tag is an $11 million premium to NorthStar's undepreciated cost basis.
