ORLANDO, FLA. — USAA Real Estate Co. has purchased Patterson Court, a Class A multifamily property located within master-planned Little Lake Bryan in Orlando. Built in 2008, the 452,928-square-foot, 384-unit property features a pool with an adjacent plaza, a clubroom, and state-of-the-art fitness and business centers. Additionally, the property is 100 percent leased by a large institutional tenant. Atlanta-based Wood Partners sold the property for an undisclosed price.
CHARLESTON, S.C. — Beverly Hills, Calif.-based Sonnenblick-Eichner Co. has arranged an $80 million first mortgage loan for Charleston Place, a luxury hotel in downtown Charleston. The 435-room hotel offers 57,000 square feet of retail space, two full-service restaurants, 37,000 square feet of meeting and banquet space, and a 20,000-square-foot state-of-the-art spa and fitness center. Retailers include Louis Vuitton, Gucci, LaCoste and Tommy Bahama. The borrower was Orient-Express Hotels.
RICHMOND, VA. — Thalhimer, a member of the Cushman & Wakefield Alliance, has brokered three leases, totaling 29,984 square feet, at Williams Mullen Center in Richmond. Located at 200 S. 10th St., the property offers 210,807 square feet of Class A office space. Cherry, Bekaert & Holland CPA signed a lease for 21,004 square feet; Agincourt Capital Management inked a deal for 6,630 square feet; and La Parisienne took 2,350 square feet at the center. Jeffrey Cooke, Connie Jordan Nielsen and Brian Berkey of Thalhimer brokered the lease transactions. Terms of the transactions were not released.
BOSSIER CITY, LA. — Beech Street Capital has provided a $28 million Fannie Mae DUS loan for the refinancing of Villaggio Apartments in Bossier City. Comprised of 10 three-story buildings, the Class A property offers 239 luxury multifamily units and 30 commercial space, totaling 51,479 square feet. Meridian Capital Group originated the transaction, which was financed by Beech Street Capital as part of its correspondent relationship with Meridian.
COLLEGE PARK, GA. — Inland Atlantic Georgia Old National Venture, a joint venture between Inland Atlantic Development Corp., Pointe Development Co. and Heritage Creek Development, has broken ground for the development of Old National Marketplace, a planned 297,000-square-foot shopping center in College Park. The 99,000-square-foot first phase is approximately 90-percent pre-leased to a variety of tenants, including LA Fitness, Family Dollar, Citi-Trends, It's Fashion, Shoe Land and VIP Nails. Completion of the first phase is scheduled for October 2011.
ATLANTA — An affiliate of KTR Capital Partners has acquired Gateway Distribution Center, a two-building warehouse complex located at 6047 and 6049 Fulton Industrial Blvd. SW in Atlanta. Situated on 19 acres, the 410,806-square-foot facility features rail service, 24-foot clear ceiling heights, T-5 lighting, and 102 exterior dock doors. The property is currently 74 percent leased to two tenants. The acquisition price was not released. CB Richard Ellis represented the undisclosed seller in the transaction.
ASHLAND, VA. — California Imports LLC has purchased an office/warehouse property, which is located at 11111 Leadbetter Road in Ashland. American Steel & Aluminum sold the 40,850-square-foot property for $1.85 million. Kevin Cox of Porter Realty Co. represented the buyer in the transaction.
ALPHARETTA AND ATLANTA, GA. — AREA Property Partners has acquired two multifamily properties, totaling 878 units, in the Atlanta area. RBC Capital Markets Corp. sold the properties for $50.4 million. The assets are the 468-unit Manchester at Mansell in Alpharetta and the 410-unit Chatsworth Apartment Homes in Atlanta. Located at 401 Huntington Dr., Manchester at Mansell features one-, two- and three-bedroom units, two swimming pools, a fitness center, a business center, a playground, three tennis courts and a volleyball court. Chatsworth Apartments Homes, which is located at 4700 N. Hill Parkway, features one-, two- and three-bedroom units, two pools, a clubhouse and a tennis court.
NORTH FORT MYERS, FLA. — Naples, Fla.-based Gulf Coast Special Assets has purchased 82 condominium units in a bulk sale transaction for $4.3 million. The condos are located at Palms at Waters Edge, which is located at 3322 N. Key Dr. in North Fort Myers. Built in 1974, the property was renovated in 2007 for the purpose of conversion to condominiums. John Stone and Jason Stanton of Colliers International Tampa Bay represented the owner, Redus Florida Condos, in the transaction.
COCOA, FLA. — Fort Myers, Fla.-based J.L. Wallace has completed the construction of the Water Field Operations Center Warehouse in Cocoa. The 53,549-square-foot facility features 46,288 square feet of warehouse and shop space and 7,261 square feet of second-floor office space. Additional features include aluminum canopies, food service equipment, a crane system, a loading dock area, audio-visual capabilities, CATV and security systems. Architects in Association Rood and Zwick provided architectural services, TLC provided structural, mechanical and electrical services, and Quentin L. Hampton Associates served as civil engineer for the project.