ORLANDO, FLA. — Construction is nearly complete on the 176-unit The Villas at Lake Eve, a 14-stoy luxury hotel in Orlando. Property features include a restaurant, an exercise room, saunas and a meeting room. Orlando-based KA & KM Development oversaw the property’s construction, and Altamonte, Fla.-based Forum Architecture & Interior Design served as architect.
SALEM, VA. — Dil Enterprise has sold the 71-unit Days Inn Salem to Devikson for an undisclosed amount. The hotel is located at 1535 E. Main St. in Salem. The buyer plans to keep the Days Inn brand and operate the hotel after undertaking property renovations, and Dil will use the sale’s proceeds to invest in other Virginia hotels. David Mumford of Newport News, Va.-based The Mumford Co. brokered the sale.
FORT LAUDERDALE, FLA. — Metro has purchased a 5,747-square-foot office building from 2495 E. Commercial Blvd. LLC for $1.2 million. The property is located on 19,366 square feet of land at 2495 E. Commercial Blvd. in Fort Lauderdale. The buyer was represented by Luna Nichols of Fort Lauderdale-based NAI Rauch, Weaver, Norfleet, Kurtz & Co. The firm’s Robert Edlin represented the seller.
MIAMI — Guggenheim Real Estate and Stiles Corp. have received a $47.5 million loan for their 420,080-square-foot SunTrust International Center office building. Located at the intersection of Flagler Street and S.E. Third Avenue in Miami, the property is 88 percent leased to Bank of America, SunTrust Bank, Walgreens and other tenants. Financing for the 5-year, fixed-rate loan was provided by a life insurance company. Todd Sugimoto of Holliday Fenoglio Fowler’s Los Angeles office and Fred Welker of the firm’s Miami office secured the loan.
SARASOTA AND TAMPA, FLA. — iStar Financial has sold the 286-unit Turnbury Park at Palm Aire apartment complex to B&M Development Co. for $21.13 million. The property, located at 6104 Turnbury Park Dr. in Sarasota, features a lakeside swimming pool and a 6,000-square-foot clubhouse. The 298,702-square-foot complex was built in 1998. Byron Moger and Luis Elorza of Cushman & Wakefield’s Tampa office brokered the sale. Moger and Elorza also represented Crescent Resources in its sale of the 176-unit Bay Oaks complex to Carter-Haston Real Estate Services for $11.35 million. Built in 1974, the 106,896-square-foot property is located at 3105 Bay Oaks Court in Tampa. Amenities include a pool and a fitness center.
BIG CYPRESS, FLA. — Fort Lauderdale, Fla.-based Gulf Building Corp. has completed construction on the 50,000-square-foot Public Safety Complex in Big Cypress. The $16 million property is located on Josie Billie Highway and will house fire and police personnel and a U.S. Post Office. The building features a bay for emergency vehicles, dormitories, kitchens, break rooms, a gym and training rooms. Gulf Building constructed the property to withstand Category 5 winds.
MERRITT ISLAND, FLA. — Marcus & Millichap has represented two undisclosed parties in the sale of the 21,600-square-foot Merritt Island Medical Office for $3.03 million. The property, which is NNN leased, is located at 595 N. Courtenay Parkway in Merritt Island. Kevin Yaryan, Patrick Skinner and Michael Donaldson of the firm’s Orando, Fla., office brokered the transaction.
ATLANTA — Atlanta-based Choate Construction Co. has begun work on a 33,000-square-foot expansion to the Shepherd Center, located at 2020 Peachtree Rd. in Atlanta. The interior build out of the fifth-floor wing will be able to house an additional 35 patient rooms and staff support space. Completion is expected in June.
JACKSONVILLE, FLA. — Atlanta-based Georgia-Pacific’s consumer division has signed a lease with Johnson Development Associates of Spartanburg, S.C., to occupy a 546,000-square-foot warehouse in Westlake Industrial Park. The property is located in Jacksonville and will serve as the firm’s regional distribution center. Johnson designed the property as a speculative building on the 182-acre Westlake site. The park can accommodate nearly 2 million square feet of industrial space.
WEST PALM BEACH, FLA. — Fort Lauderdale, Fla.-based Moss & Associates has completed construction on The Related Group’s $106 million CityPlace South Tower mixed-use project. The property encompasses a 20-story building that includes 420 residences and 9,333 square feet of ground-floor retail space. An adjoining parking structure features a 22,940-square-foot recreation space, which features a pool and spa, gardens and a cascading fountain.