GREENVILLE, S.C. — Healthcare Trust of America has purchased a 16-building, 856,000-square-foot medical office portfolio from Greenville Hospital System for $162 million. More than 90 percent of the space purchased is located adjacent to one of the health care provider’s four hospitals. Greenville Hospital System will continue to occupy 84 percent of the buildings purchased.
MOBILE, ALA. — Littleton, Colo.-based Lamar Cos. has sold the 76,364-square-foot Hillcrest Marketplace shopping center to a private Atlanta-based buyer for an undisclosed amount. The property, located on 11.83 acres at 6300 Grelot Rd. in Mobile, is anchored by Winn-Dixie and CVS/pharmacy. Firehouse Subs, Hallmark, Hershey’s Ice Cream and Little Caesar’s are also housed in the center. Kevin Fryman of Hanley Investment Group Real Estate Advisors brokered the sale.
GREENSBORO, N.C. — Greensboro-based Brown Investment Properties has sold the 144-unit Palmer House Apartments to Havens Properties of Richmond, Va., for $6 million. The complex is located on Yanceyville Street in Greensboro. Hal Kern served as in-house representation for Brown Investment Properties.
NORFOLK, VA. — Virginia-based S.L. Nusbaum Realty Co. has completed the 194-unit River House Apartments. Located near the Granby Street Bridge in Norfolk, the property has views of the Lafayette River. Apartment amenities include a heated pool, a fitness center and a clubhouse.
FORT LAUDERDALE, FLA. — Miller Construction Co. has finished construction on RoboVault, a high-tech storage facility prototype. The property is located at the interchange of I-595 and U.S. 1 in Fort Lauderdale. RoboVault features include automated storage retrieval, biometric recognition and climate-controlled wine storage spaces. The property was constructed to withstand Category 5 hurricanes.
LAFAYETTE AND LAKE CHARLES, LA. — A private institution based in Pennsylvania has sold a seven-property Louisiana apartment portfolio to a Tennessee party for an undisclosed amount. The buyer purchased the ownership entity with bond financing. The Lafayette properties are the 240-unit Pinhook South Apartments, located at 200 Merchants Blvd., and the 80-unit Mon Chateau Apartments, located at 2820 Louisiana Ave. In Lake Charles, the 220-unit Suffolk Manor Apartment Homes, located at 2960 Lake St.; the 200-unit Le Chateau Apartments, located at 4404 Canal St.; the 180-unit Shadowood Apartment Homes, located at 1045 Walters St.; and the 80-unit Trace Apartments, located at 211 Louie St., were included in the sale. Apartment Realty Advisors’ Matt Heininger brokered the sale.
HOWARD COUNTY, MD. — Baltimore-based St. John Properties has entered into an agreement with Greenebaum and Rose, Associates, to build five to six buildings in the 600-acre Maple Lawn Maryland mixed-use development in Howard County. St. John is currently building two industrial spaces totaling 80,000 square feet in the Maple Lawn Business Park. When finished with its commitment, the firm will have constructed nearly 300,000 square feet of warehouse space in the development.
BATON ROUGE, LA. — Milton J. Womack Inc. has started work on the 48,000-square-foot Hotel Indigo Downtown Baton Rouge Riverfront, a 93-room renovation of the historic Hotel King. The $25 million property will be located at the intersection of Convention and Lafayette streets in Baton Rouge. Funding for the project was secured through Historic Tax Credits, private equity sources and New Market Tax Credits. Coleman Partners Architects designed the building, which will deliver late next year.
LOUISVILLE, KY. — Massachusetts-based Gross Cohen Louisville has acquired the 95-unit Station House Square apartment complex from an undisclosed seller for an undisclosed price. The off-campus student housing complex is located at 1509 S. 6th St. in Louisville and features a pool, a workout room and a clubhouse. The seller assumed an HUD loan and made an equity down payment to secure the property.
MENDOTA HEIGHTS, MD. — Patrick Minea of NorthMarq’s Minneapolis office has secured a $28 million loan for Mendota Office Center I-IV and American Corporate Center in Mendota Heights. The office properties contain a total of 420,216 square feet of space. State Farm Life Insurance Co. provided financing for the loans.