GASTONIA, S.C. — Bill Matone of NorthMarq Capital’s Charlotte, N.C., office has secured a $3.06 million loan for the 102-unit Carriage House Apartments. The property is located in Gastonia. Freddie Mac financed the 10-year loan, which carries a 30-year amortization.
LAWRENCEVILLE AND DECATUR, GA. — Cushman & Wakefield has brokered the sale of two Atlanta-area apartment complexes for $43.5 million. B&M Management purchased the 586-unit Madison at River Sound from an undisclosed seller for $39 million. The property, which is 93 percent occupied, is located at 980 Walther Blvd. in Lawrenceville. Southwood Real Estate purchased the 254-unit Covington Glen from Freddie Mac for $4.5 million. Located at 5816 Covington Highway in Decatur, the property is 70 percent occupied. Chris Span, David Gutting, Larry Orr and Nathan Swenson of Cushman’s Atlanta office represented the buyers and sellers.
TAMPA, FLA. — Northview Realty Group has acquired the 280-unit Lofton Place apartment complex from an undisclosed seller for $16 million. The 17-acre property, which is located at 5412 Deerbrook Creek Circle in Tampa, is 97 percent occupied. Features include a swimming pool, a spa and a fitness center. ARA Finance funded 75 percent of the transaction with a 10-year loan at a 5.66 percent interest rate. Kevin Judd of Apartment Realty Advisors’ Orlando, Fla., office, Dick Donnellan of the firm’s Boca Raton, Fla., office and Patrick Dufour of the firm’s Tampa office represented the seller.
BOCA RATON, FLA. — Boca Raton-based Fimiani Development has been tapped as receiver of the 6,065-square-foot Yamato Plaza. The property is located adjacent to a Lifetime Fitness and a Hampton Inn on Yamato Road in Boca Raton. This assignment is the company’s first foray into receivership services.
RUSSELLVILLE, ALA. —Russellville Hospitality’s 60-room Russellville Hotel and Suites has joined the Best Western family, becoming Best Western Russellville Hotel and Suites. The property is located at 13770 Highway 43 in Russellville. Amenities include an outdoor swimming pool, a fitness center and a banquet and conference space.
ABINGDON, MD. — Ward Properties has broken ground on the 700,000-square-foot Boulevard at Box Hill mixed-use development. Located at the intersection of Woodsdale Road and Box Hill Center Corporate Drive in Abingdon, the 40-acre project will be built in multiple phases. When complete, the development will house more than 450,000 square feet of retail space, 50,000 square feet of restaurant space and 88,000 square feet of office space. Tenants will include Wegmans, national department stores and a 2,500-seat cinema.
CHATTANOOGA, TENN. — In November, Atlanta-based Jamestown will launch the newly redeveloped Warehouse Row, a mixed-use development featuring office suites, lofts and 330,000 square feet of retail and dining space. The property, which started life in 1904 as a series of warehouses, is located on Market Street in Chattanooga. After Jamestown purchased the development in 2006, Hefferlin + Kronenberg Architects helped the firm undertake an exterior and interior renovation of the space. The design studio Revival, Amanda Pinson Jewelry and The Cosmetic Market are among a handful of tenants that recently moved into the property.
GERMANTOWN, MD. — First Potomac Realty Trust has purchased the 173,655-square-foot Cloverleaf Center in Germantown from Kennedy Capital for $25.5 million. The Class A office building houses government contractors and technology companies in four one- and two-story buildings. The property is 97 percent leased. First Potomac purchased the property with a $17.5 million mortgage and cash on hand.
FORT MYERS, FLA. — A partnership among Behringer Harvard Opportunity REIT II, DeBartolo Development and Christian Tyler Properties has acquired the senior mortgage debt associated with the 408-unit Palms of Monterrey multifamily complex from the property’s previous owner. The complex was built in 2001 and is located at 15250 Sonoma Dr. in Fort Myers. Apartment amenities include a clubhouse with a business center, two heated pools, a lighted tennis court and a racquetball facility. The Palms of Monterrey, which started life as a collection of condominium units, will be repositioned as apartments.
BELLE VERNON, VA. — TSC/Belle Vernon has sold a 19,104-square-foot retail building in Belle Vernon to Columbia Properties Belle Vernon for $3.12 million. The property spans 3.7 acres and is leased to Tractor Supply Co. Mac McCall of Marcus & Millichap’s Atlanta office represented the seller in the transaction. Leonard Mazzone represented the buyer.