Southeast

312-UNIT FLORIDA APARTMENT COMPLEX SOLD

by admin February 5, 2010

NORTH PORT, FLA. — Banc of America Community Development Corp. has purchased the 312-unit Riley Chase Apartments from Florida Housing Finance Corp. for an undisclosed amount. Located at 1015 Riley Chase Drive in North Port, the 287,928-square-foot Class B complex spans 13 three-story buildings. A swimming pool, business center and fitness center are also located on the 26.96-acre property. Jamie May and Matt Mitchell of Marcus & Millichap's National Multi Housing Group brokered the sale. The firm's Seattle-based Tax Credit Group was also involved in the sale.

February 5, 2010

116 FLORIDA CONDO UNITS PURCHASED

by admin February 5, 2010

FORT WALTON BEACH, FLA. — ABG Sundal Collier ASA has purchased 116 units of the 339-unit Waterscape Resort Condominiums from Crescent Resources for $23.51 million. The $180 million property, located on Santa Rosa Boulevard in Fort Walton Beach, was completed in 2008. John Stone and Jason Stanton of Colliers Arnold and John Crotty and David Metalonis of Colliers Abood Wood-Fay represented the buyer.

February 5, 2010

Seniors Housing Southeast

FIRM ARRANGES $7.95 MILLION LOAN FOR GEORGIA APARTMENTS

by admin February 5, 2010

SANDY SPRINGS, GA. — Mickey Rist of Love Funding's Detroit office and Bruce Gerhart of the firm's Cleveland office have secured a $7.95 million loan for the Dogwood Forest of Dunwoody. The 86-bed assisted living facility is located at 7400 Peachtree Dunwoody Road in Sandy Springs. Amenities include walking paths, an exercise room, activity rooms and a barber shop. The refinancing was secured through the HUD 232/223(f) program. The loan carries a 5.35 percent interest rate and a 35-year amortization schedule.

February 5, 2010

Civic Southeast

MULLAN CONTRACTING FINISHES BALTIMORE LIBRARY EXPANSION

by admin February 5, 2010

BALTIMORE — The Mullan Contracting Co. has completed a $3 million expansion of the Harford County Public Library's Whiteford Branch. The property, located at 2407 Whiteford Road in Baltimore, is now 13,278 square feet, twice its original size. New features include a 1,000-square-foot meeting room, a children's play theater, a storm water management system and a new HVAC system. Bel Air, Md.-based Edmeades & Stromdahl. Ltd. designed the project, which took 1 year to complete.

February 5, 2010

Retail Southeast

INVESTORS BUY 390,000-SQUARE-FOOT RETAIL CENTER

by admin February 4, 2010

GAMBRILLS, MD. — Chevy Chase, Md.-based JBG Rosenfeld Retail, JBG's funds VI and VII, and Bethesda, Md.-based Buvermo Investments have purchased the 390,000-square-foot Village at Waugh Chapel from clients advised by Prudential Real Estate Investors for an undisclosed amount. The property, located at the intersection of Crain Highway and Waugh Chapel Road, is 96 percent leased. Tenants include Safeway, L.A. Fitness, Rite Aid, Applebee's and Cold Stone Creamery. Bill Kent and Gary Lawrence of CB Richard Ellis represented the sellers. Northwestern Mutual Life Insurance Co. provided financing for the purchase.

February 4, 2010

Retail Southeast

HAYSVEST LLC PLANS FLORIDA SHOPPING CENTER

by admin February 4, 2010

PASCO COUNTY, FLA. — Hawkins Construction is gearing up for a groundbreaking for the 110,000-square-foot Hays Towne Center, a shopping center located at the intersection of State Road 52 and Hays Road in Pasco County. The Tampa office of Lyman Davidson Dooley designed the project. Publix will anchor the center, which will also house Great Clips, Spa 1 Nails, Penthouse Cleaners and Hawkeye Pizza. Hays Towne Center is being developed by Haysvest LLC, which is comprised of DCT Systems Group, Shuler Properties and Dunphy Properties.

February 4, 2010

Healthcare Southeast

FIRM TO BUILD RESIDENCE HALL AT GEORGIA REHAB FACILITY

by admin February 4, 2010

WARM SPRINGS, GA. — Batson-Cook and Cooper Carry are planning a 72,000-square-foot residence hall at The Roosevelt Warm Springs Institute for Rehabilitation in Warm Springs. When completed, the project will house 150 beds for patients with disabilities in 72 rooms. Additional features include classrooms, a café, lounges, a nurse's station and a library.

February 4, 2010

Healthcare Southeast

PINNACLE ORTHOPAEDICS TO MOVE INTO NEW BUILDING THIS FALL

by admin February 4, 2010

WOODSTOCK, GA. — McWhirter Realty Partners began construction February 1 on a 33,000-square-foot office building for Pinnacle Orthopaedics. The $7 million property is located on a 4-acre site on Towne Lake Parkway in Woodstock. Building features include an MRI suite, clinic space and an ambulatory surgery center. Delivery is expected this fall.

February 4, 2010

Retail Southeast

DESIGN FOR GEORGIA AQUARIUM'S DOLPHIN EXPANSION FINISHED

by admin February 3, 2010

ATLANTA — St. Louis-based PGAV Destinations has finished designing a $110 million expansion for the Georgia Aquarium. Located at 225 Baker St. NW in Atlanta, the 84,000-square-foot expansion will house a 1.8-million gallon dolphin tank. The dolphin exhibit is expected to open in November.

February 3, 2010

Multifamily Southeast

$23.19 MILLION ACQUISITION LOAN SECURED FOR FLORIDA APARTMENTS

by admin February 3, 2010

TAMARAC, FLA. — Coral Vista Investors has received $23.19 million in financing for the acquisition of the 300-unit Archstone Gardens apartment complex. The Tamarac property features a swimming pool, a car wash area and a tennis court. Freddie Mac financed the 10-year loan, which carries a fixed interest rate and a 30-year amortization schedule. Charles Foschini, Christian Lee and Christopher Apone of CB Richard Ellis Capital Markets' Miami office secured the loan.

February 3, 2010

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