DULUTH, GA. — Atlanta-based Wilwat Properties has sold the 660-unit TreeSummit apartment complex to Norfolk, Va.-based Harbor Group International for $33.9 million. Located at 3475 Pleasant Hill Rd. in Duluth, the 731,068-square-foot property was built in phases in 1994 and 1996. Apartment amenities include four tennis courts, two pools, a fitness center and a clubhouse. David Gutting, Larry Orr and Chris Spain of Cushman & Wakefield’s Atlanta office brokered the sale.
FORT LAUDERDALE, FLA. — Marcus & Millichap has brokered the sale of the 32-unit Holly Heights Apartments between two undisclosed parties for $1.64 million. The property was built in 1969 and is located at 900 NE 14th St. in Fort Lauderdale. Joseph Thomas and Felipe Echarte of Marcus & Millichap’s Fort Lauderdale office represented the seller. Echarte also represented the buyer. The firm’s Michael McCleary and Bill Papagno secured Freddie Mac financing for the purchase.
ORLANDO, FLA. — Barnes, Ferland and Associates, an Orlando-based engineering consulting firm, has purchased a 12,014-square-foot office building from Orlando-based RBO Associates for $1.3 million. The property is located at 1230 E. Hillcrest St. in Orlando. Rick Solik of Cushman & Wakefield’s Orlando office represented the buyer. Grubb & Ellis|Commercial Florida’s Jay Dixon and Robert Kellogg represented RBO.
MIAMI — Orlando, Fla.-based Smith Equities Real Estate Investment Advisors has represented a foreign lender in the $37.6 million sale of 640 condominium units to a private foreign buyer. The units are located in Belmont at Park Central, Charles Towne at Park Central and Manor Row at Park Central, three of the five properties constituting the Park Central Planned Development project in Miami. Of the 1,081 units in all three properties, 640 were vacant. Gerald Smith and Robert Smith of Smith Equities brokered the sale.
MIAMI — During the first quarter of next year, Hollywood, Fla.-based The Cornerstone Group and The Richman Group of Companies will begin site work on the 204-unit Mirabella affordable housing project. Located at 12900 SW 253rd St. in Miami, the property will also include a 27-acre mobile home park reserved to accommodate 30 residences. Mirabella will feature a social room, business and fitness centers and a pool. Each unit will contain EnergyStar appliances, low-flow fixtures and low-VOC paint. Citibank provided $8.48 million in construction financing and a $5.1 million permanent loan. Additional financing included 9 percent tax credits, a $4.25 million county subsidy and up to $7 million in Tax Credit Assistance Program money.
ASHEVILLE, N.C. — As part of Hotel Indigo’s North Carolina expansion, Hospitality and Lodging Investors II has opened the 100-room Hotel Indigo Asheville. The property is located at 151 Haywood St. The building is decorated with locally inspired artwork and materials from throughout the region. Guest rooms contain flat-screen TVs and spa-inspired showers.
COCOA, FLA. — Fort Myers, Fla.-based J.L. Wallace will soon break ground on the 53,549-square-foot Water Field Operations Center Warehouse for the City of Cocoa Utilities Division. Located in Cocoa, the facility will be divided into 46,288 square feet of warehouse space and 7,261 square feet of second-floor office space.
WASHINGTON, D.C. — E&G Group has borrowed $10.92 million in financing against its 462-unit Meadow Green Apartments to pay off an existing FHA/HUD loan. The Washington property was redeveloped in 1998. Jason Miller of Vienna, Va.-based Johnson Capital arranged the 7-year loan. Financing was provided through Freddie Mac’s Capped ARM Program.
SUWANEE, GA. — Toledo, Ohio-based Sofo Foods has purchased a 114,412-square-foot warehouse from an undisclosed seller for $2.9 million. The property, which Sofo will occupy in March, is located on 13 acres at 3910 Lakefield Dr. in Suwanee. Atlanta-based Colliers Spectrum Cauble’s Chris Cummings, Elizabeth McSweeney and Bill Buist represented Sofo. The firm’s Mike Spears and Ryan Sawyer represented the seller.
HARFORD COUNTY, MD. — Marlton, N.J.-based L-3 Communications’ Command & Control Systems and Software, a defense firm, has signed a full-building lease with St. John Properties for a 75,000-square-foot office building. The space is located in Aberdeen Proving Ground’s Government and Technology Enterprise project at 6280 Guardian Gateway in Harford County. The building is now under construction and has been designed to achieve Silver LEED certification. Green features include a highly efficient HVAC system, low-flow fixtures and drought-tolerant landscaping. Delivery is expected in fall 2010.
