WESTON, FLA. — The local private investor Westin Holdings II has sold the 9,547-square-foot Weston Town Center Executive Suites property to Fort Lee, N.J.-based Roned Realty for $2.85 million. The property is located in the Weston Town Center in Weston. Michael Zimmerman and Barry Wolfe of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller.
CHARLESTON, S.C. — Indianapolis-based Lauth has completed construction of the 390,180-square-foot North Pointe Building Four in Charleston’s North Pointe Industrial Park. The Class A warehouse is located 4 miles from the Port of Charleston and 5 miles from Interstate 26. Building amenities include 32-foot ceilings and 100 dock doors. North Pointe Four is the first of two new warehouses under construction in the park.
ATLANTA — Atlanta-based Kairos Development Corp. has delivered the 351,373-square-foot Astoria at The Aramore, the final phase to the mixed-use Aramore project. The residential complex spans 1.38 acres in Atlanta and features a pool, a heated spa, a fitness center and street-level retail. New York City-based Real Estate Capital Partners and Pittsburgh-based Flagstar Bank provided funding for the $36 million project.
TAMPA, FLA. — Atlanta-based InterContinental Hotels Group is nearly finished with its remodel of MHI Hospitality Corp.’s 222-unit Crowne Plaza Tampa Westshore, which should deliver early this month. The property is located at 5303 W. Kennedy Blvd. in Tampa. The hotel features a 24-hour business center, more than 9,000 square feet of meeting space, a pool and a restaurant.
ARLINGTON, VA. — Washington, D.C.-based Federal Capital Partners has acquired a $28 million senior secured mortgage loan on an Arlington residential project. A subsidiary of FCP Fund 1 purchased the loan. Federal Capital Partners will service the loan.
ESTERO, FLA. — Michigan-based Owen-Ames-Kimball has completed construction on a 9,388-square-foot office building for FineMark National Bank Trust at 10010 Coconut Rd. in Estero. The property, which was started in July 2008, features eight offices, five conference rooms and a two-story lobby. Dan McGahey, Ramon Acevedo, Ella Materska and Pat McGuire of Ft. Myers, Fla.-based Gora/McGahey Architects completed design services.
BIRMINGHAM, ALA. — Birmingham-based Colonial Properties Trust has closed a $350 million credit facility secured by 19 multifamily properties for repurchase by Fannie Mae. The 10-year facility, which carries an interest rate of 6.04 percent, was originated by PNC ARCS LLC. Colonial Properties will use the proceeds to pay down its $675 million unsecured line of credit and pay debt maturities through 2010.
ATLANTA — Atlanta-based Isakson Living is eyeing a 2009 groundbreaking on its 266-unit Peachtree Hills Place retirement community. The $200 million project spans 23.3 acres on Peachtree Hills Avenue in Atlanta. The development includes a 58,000-square-foot clubhouse and a 15,000-square-foot fitness center with a pool. Delivery is expected in 2011.
HOLLYWOOD, FLA. — A private investor from Miami Beach, Fla., has sold the 72-unit Washington Park Apartments to a Miami-based company for $4.27 million. The property is located at 6111 Washington St. in Hollywood. Elliot Shainberg of Marcus & Millichap’s Miami office represented the seller, and the firm’s Andrew Jordan and Paul Nudelman represented the buyer.
CHESAPEAKE, VA. — Carson, Calif.-based US Auto Parts Network has signed a 72,558-square-foot lease for space in the Indian River Distribution Center in Chesapeake. The property will serve as US’s East Coast distribution center. H. Ashton Williamson and R. Worth Remick of CB Richard Ellis’ Hampton Roads, Va., office and Peter Andrich of the company’s Newport Beach, Calif., office represented US.