INDIAN TRAIL, N.C. — Trinity Capital Advisors has sold the 45,320-square-foot PODS Building, located at 7171 Stinson Hartis Rd. in the Old Hickory Business Park in Indian Trail, to Durham, N.C.-based LFC CFP I for $3.2 million. Portable Storage Systems occupies 100 percent of the property. Pickett-Sprouse Real Estate’s Vernon Averett represented the buyer, and the seller was represented by Trinity Partners.
ATLANTA — Atlanta-based Post Properties has sold its 250-unit Post Oglethorpe, an apartment complex located at 3070 Ashford-Dunwoody Rd. in Atlanta, to an undisclosed buyer for $38.5 million. The property, which was built in 1994, has an average unit size of 1,150 square feet. Post is expected to see a profit of $23 million in the sale.
NAPLES, FLA. — Naples-based Lund Capital Group has sold a 252,422-square-foot industrial portfolio, located across from the Naples Municipal Airport in Naples, to Miami-based The Adler Group for $31 million. The portfolio consists of the seven-building, 189,523-square-foot Collier Park of Commerce and the four-building, 62,899-square-foot Commerce Center. Sale of the property, which is 96 percent occupied, was brokered by Mike Davis, Rick Brugge, Gary Tasman and Brandon Stoneburner of Cushman & Wakefield.
ATLANTA — Post Properties has secured a 5-year, $29.3 million mortgage loan with Fannie Mae for the 276-unit Post Biltmore apartment complex, located at 855 W. Peachtree St. in Atlanta. The loan, which requires fixed interest-only payments of 5.83 percent, matures in September 2013. Post owns 35 percent of the property in an unconsolidated joint venture.
LAFAYETTE, LA. — The Columbus, Ohio, office of Grandbridge Real Estate Capital has secured a $24 million mortgage for the 205-unit The Quarters at Rue Principale, a student-housing complex located on the University of Louisiana at Lafayette campus. The property, which was built in 2007, is fully leased for the spring 2008 semester. Fannie Mae financed the 10-year, fixed-rate loan that includes 2 years of interest-only payments and a 30-year amortization schedule.
COOPER CITY, FLA. — Apollo Lakis Plaza LLC has purchased a 17,492-square-foot shopping center in Cooper City from AF of Griffin Road LLC for $7.5 million. Tenants at the center include SunTrust, Advanced Auto Parts and Dunkin Donuts. Barry Wolfe and Michael Zimmerman of Marcus & Millichap’s Fort Lauderdale, Fla., office represented the seller, and Ron Okolichany of Ron Okolichany Inc. represented the buyer.
PLANTATION, MARGATE AND BOCA RATON, FLA. — In a joint venture with an affiliate of DRA Advisors, Miami-based Equity One has acquired three properties from private sellers for $53 million. The properties include the 230,330-square-foot Plantation Marketplace in Plantation, the 155,628-square-foot Penn Dutch Plaza in Margate and a four-story, 116,777-square-foot office building in Boca Raton. The properties are subject to a 5.6 percent mortgage with a $38.9 million outstanding balance that matures in November 2014.
VIRGINIA BEACH, VA. — Virginia Beach-based Olympia Development Corp., owner of the four-building, 338,850-square-foot Convergence Center office complex, has started construction on the five-story, 89,000-square-foot Convergence Center IV. Capital investment for the new property, located at 301 Bendix Rd. in Virginia Beach, is estimated at $22.3 million. The building will deliver in summer 2009, and it will employ an estimated 400 to 500 workers when fully occupied.
VIRGINIA BEACH AND NORFOLK, VA. — Burnette Development recently sold two Class A self-storage properties, totaling 170,000 square feet and encompassing 1,438 units, to an undisclosed buyer for $14 million. Sale of the properties, which are located in Virginia Beach and Norfolk, was arranged by Michael Howard, Steve Hryszko and Hal Yuill of CB Richard Ellis’ Self Storage Advisory Group.
VALRICO, FLA. — Thomas D. Wood & Co.’s Susan Traino and Christian Johannsen have arranged a $5 million loan for the 224-unit Bloomingdale Woods Condominiums, located at 3431 Eagle Ridge Rd. in Valrico. The 6.75 percent, 5-year loan, which was financed through a regional bank, comes with a 25-year amortization.