GREENVILLE, N.C. — Atlas 1 SPC has sold a 121-room hotel to Preena for an undisclosed amount. The two-story Greenville property was formerly branded as a Baymont Inn. Preena plans to undertake upgrades to the property and affiliate it with a national franchise. Ed James of Mumford Co. represented the seller.
ATLANTA — Georgia State University has purchased the former Wyndham Garden Hotel and The Baymont Inn and Suites from a private party for an undisclosed amount. The properties, which combined include 453 rooms, are located adjacent to Georgia State's main campus at 175 Piedmont Ave. in Atlanta. The school will convert both properties into student housing. Hunter Realty's Bob Hunter and Kyle Stevenson represented the seller.
MIAMI — Simon Property Group and Institutional Mall Investors have borrowed $79 million in refinancing for The Shops at Sunset Place. Located at 5701 Sunset Drive in Miami, the property includes AMC Theaters, LA Fitness, Gameworks and Splitsville. Manny de Zarraga, Luis Castillo, Danny Finkle, Claudia Steeb and John Pelusi, Jr., of Holliday Fenoglio Fowler arranged the financing. JP Morgan Securities funded the 10-year, fixed-rate loan.
ROCK HILL, S.C. — Cleveland-based Weston has sold a 120,000-square-foot warehouse to Guy M. Turner Inc. for $1.8 million. The property is located at 2724 Commerce Drive in Rock Hill's Weston Commerce Center. Piedmont Properties/CORFAC International's Lester Osborn and A. Scott Hensley represented Weston in the transaction. CB Richard Ellis' Frank Larsen and Steve Lowe represented the buyer.
CHATTANOOGA, TENN. — Birmingham, Ala.-based Red Mountain Development Co. has purchased a 26-acre tract of land from DPTI in order to build a 282-unit luxury apartment complex. The property is located on Dayton Boulevard in Chattanooga and will be complete next spring. Planned amenities include a pool, a fitness center, a business center and a Wii room. Grandbrige Capital financed the purchase with a $22 million loan. Herman Walldorf & Co.'s Rudy Walldorf brokered the transaction.
BRANDON, FLA. — Covenant Capital Group of Nashville has purchased the 444-unit Providence Place Apartments from a New York-based party for an undisclosed amount. The property is located near the Crosstown Expressway in Brandon. Holliday Fenoglio Fowler's Jason Nettles and Megan Thompson represented the seller.
OCOEE, FLA. — A.D. Owens Construction Corp. has broken ground on a $2.25 million headquarters building for Transaction Data Systems in Ocoee. The property will be located on a 2-acre site in the Ocoee Commons business park. Farmer Architecture designed the project, which will be complete in 13 months.
FOUNTAIN INN, S.C. —SAATI Americas Corp. has purchased a 260,000-square-foot warehouse from Kemet Electronics for an undisclosed amount. Located at 201 Fairview St. Ext. in Fountain Inn, the property will house SAATI's U.S. Composites and Protection division. The company expects to hire 80 employees in the next few years.
WASHINGTON, D.C. — Gables Residential has purchased the 244-unit V at City Vista apartment complex from a group composed of Lowe Enterprises, CIM Group, Bundy Development Corp. and the Neighborhood Development Co. The property, which is located at the intersection of 5th and K streets in Washington's 1.3 million-square-foot City Vista development, was traded for an undisclosed amount. Jorgen Punda and David Reece of Gables Residential helped close the deal. Deutsche Bank Berkshire Mortgage provided a Fannie Mae loan to finance the purchase.
JACKSONVILLE, FLA. — W.G. Mills has completed the $69.5 million Atlantic Coast High School for Duval County Public Schools. SchenkelShultz Architecture designed the 303,000-square-foot school, which is located at 9735 R.G. Skinner Road in Jacksonville. The property includes classrooms, a 1,621-seat gym and am 840-seat auditorium.
