ARLINGTON COUNTY AND FAIRFAX COUNTY, VA. — A joint venture between Behringer Harvard Multifamily REIT I and PGGM Private Real Estate Fund has purchased more than 75 percent ownership interests in apartment complexes in Virginia. The deal includes the 414-unit Bailey's Crossing, located near the intersection of Interstate 395 and Route 7 in Fairfax County. The property, which features a swimming pool and a fitness center, is 90 percent complete. Also included is the 234-unit 55 Hundred, located at 5500 Columbia Pike Road in Arlington County. The 10-story property is 99 percent complete.
TAMPA, FLA. — AIMCO has sold the 348-unit Bridgeview Apartments to a Florida-based investment group for $21 million. The 297,928-square-foot property, which is located in a 21-acre nature preserve, is 95 percent occupied. Apartment amenities include a resort-style swimming pool and a fitness center. Marcus & Millichap's Jamie May and Matt Mitchell brokered the sale.
CHARLESTON, S.C. — Gildan ActiveWear has purchased the 850,000-square-foot Mikasa Distribution Facility from American Commercial for $20 million. The property is located on 81 acres of land at 1980 Clement Ferry Road in Charleston. Charlie Moore and F. Daniel Batten of Charleston-based NAI Batten & Moore brokered the sale with the help of Thomas Turner, James Belcher and Don Moss of Southampton, Penn.-based Hart Corporation.
COLUMBIA, S.C. — Bruce Foster of NorthMarq's Atlanta office has arranged a $49 million loan for the 390-unit Woodlands of Columbia student housing complex. The property is located on Southern Drive near the University of South Carolina campus in Columbia. Woodlands can house up to 1,209 students. Freddie Mac financed the 10-year loan, which carries a 30-year amortization schedule.
NEWPORT NEWS, VA. — Newport Housing has sold the 300-unit Townes at Jones Run townhouse development to Breeden Investment Properties for $23 million. The property consists of 38 one- and two-story buildings on 24 acres of land in Newport News. Amenities include a 4,000-square-foot clubhouse and a pool. Michael Early of Marcus & Millichap's Williamsburg, Va., office and Steve Witten and Victor Nolletti of the firm's New Haven, Conn., office brokered the sale.
MIAMI — UrbanAmerica has borrowed a $10.78 million loan to refinance the Northside Shopping Center, located at the intersection of NW 79th St. and NW 27th Ave. in Miami. The center is anchored by Walgreens and Payless ShoeSource. Ocean Bank financed the 15-year loan, which carries a 25-year amortization. Cohen Financial's Miami office originated the transaction.
RIVERDALE, GA. — Tim Kinney of Marcus & Millichap's Atlanta office has secured a $7.3 million loan for the acquisition of a Walgreens store. The 14,820-square-foot property is located in Riverdale. A 25-year loan carrying a 6.9 percent interest rate and a 25-year amortization was arranged for the borrower.
TAVARES, FLA. — Longwood, Fla.-based Cotter-Ryan Commercial has completed vertical construction of the 20,000-square-foot Premier Surgery Center in Tavares. The $4 million building is located on Vindale Road. Premier Surgery Center, which will open next year, will house an 11,000-square-foot surgery center and 9,000 square feet of medical office space.
POMPANO BEACH, FLA. — The Chetrit Group and Read Property Group have borrowed $28.2 million to acquire 138 units in the 186-unit Plaza at Oceanside resort. The loan also covers the purchase of 22,400 square feet of retail space. The Pompano Beach property includes a zero-edge pool, a fitness center and a wine-tasting lounge. Ladder Capital financed the 2-year loan. Ronnie Levine of Meridian Capital's New York office secured the loan.
KISSIMMEE, FLA., AND MYRTLE BEACH, S.C. — Winter Park Construction will begin a $16.6 million renovation of three Holiday Inn Club Vacations resorts in January. The project includes the 1,450-acre Holiday Inn Club Vacations at Orange Lake Resort in Kissimmee and two additional resorts in Myrtle Beach and Wisconsin. Winter Park has been tasked with upgrading 224 golf villas and 408 resort units at the properties. The phased renovation will be complete by December 2010.