FORT PIERCE, FLA. — Dale and Roni Zaletel of Birmingham, Ala.-based Senior Management Solutions have acquired Broadmoor Assisted Living, a 32-unit, 55-bed assisted living and Alzheimer’s community in Fort Pierce, from Christopher Lundstrom of Perfect Healthcare, for $3 million. Krone Weidler of Marcus & Millichap’s Tampa, Fla., office represented both parties in the transaction.
HUNTSVILLE, ALA. — An undisclosed buyer has purchased Mill Stream Apartment complex, a 5-acre, 80-unit property located at 3000 Ivy St. in Huntsville, from Mill Stream LLC, for $2 million. John Landrum of Huntsville-based Coldwell Banker Commercial McLain Real Estate represented the seller, and the buyer was represented by Annie Rapiere of Keller Williams Realty’s Huntsville office.
D’IBERVILLE, MISS. — Chattanooga, Tenn.-based CBL & Associates, in conjunction with joint venture partner Forum Development Group, is building The Promenade, a 72-acre, 700,000-square-foot power center in D’Iberville, located at the northwest corner of interstates 10 and 110. The center will feature 11 anchors and more than 80,000 square feet of specialty shops and restaurants. CBL is the majority partner responsible for development, leasing and management. Construction will begin this month, and the center will open next fall. The project will benefit from tax exempt funding via GO ZONE legislation, which is designed to encourage development in hurricane-impacted areas. Chattanooga-based EMJ Corporation is the general contractor, and the project architect is Atlanta-based Phillips Partnership. Tenants have committed to occupy more than 365,000 square feet.
LOUISVILLE, KY. — NTS Realty Holdings has completed the sale of 100 percent of the membership interests in its wholly-owned subsidiary, which consisted of eight office properties in Louisville, to Kentucky-based Ascent Properties, for $56.5 million. The portfolio was comprised of Plainview Center, which features 98,000 square feet; Plainview Point Office Center I and II, which feature a total of 57,300 square feet; Plainview Point Office Center III, which features 61,700 square feet; 1901 Campus Place, which features 85,300 square feet; Atrium Center, which features 104,300 square feet; Blakenbaker Business Center I, which features 160,700 square feet; and Blakenbaker Business Center II, which features 77,400 square feet.
WASHINGTON, D.C. — The development partnership of Canyon-Johnson Urban Funds and Donatellis Development has secured a $53 million construction loan for Park Place, a seven-story, 161-unit multifamily and townhome community in the Columbia Heights/Petworth suburb of Washington, D.C., from Citi Community Capital. The development will feature units averaging 860 square feet with one or two bedrooms and 16,000 square feet of community-serving retail. The project will be located directly above the Georgia Avenue/Petworth Metro Station. The general contractor is S.E. Foster, a subsidiary of The Paradigm Companies, and the architect is Torti Gallas and Partners. Construction is slated for completion next July.
BLUEFIELD, W.VA. — Stafford Hospitality has acquired Holiday Inn Bluefield, a 120-room property in Bluefield, from Equity Inns. The property is located near Interstate 77 and features a swimming pool, fitness center, sauna, restaurant/lounge and 3,500 square feet of meeting space. Ros Mallory of Jones Lang LaSalle represented the seller.
ATLANTA — Dallas-based Rosewood Hotels & Resorts has opened The Mansion at Peachtree, a 42-story, hotel and condominium tower in Atlanta’s Buckhead District. The property features 127 hotel rooms and 45 residential units. Two fine dining restaurants, NEO and Craft Atlanta, will open this month and in September, respectively. The Mansion was designed by architect Robert A. M. Stern.
POLK COUNTY, FLA.— Dallas-based Trammell Crow Company, in a joint venture with Boardwalk Land Development and Met Life, is developing Posner Park, a $500 million, 368-acre mixed-use development, located at the southeast corner of Interstate 4 and Highway 27 in Polk County. Posner Commons, an 80-acre, 630,000-square-foot retail tract, will feature several major tenants: Target, Books-A-Million, Belk, Best Buy, Staples, JC Penney, Dick’s Sporting Goods, Ross Dress For Less, Michaels and PetSmart. Retail stores are slated to open this spring and early fall. Posner Park is approved for 1.5 million square feet of retail, 1 million square feet of Class A office space, 2,600 hotel rooms and 2,000 multifamily residences. The project is expected to be completed in 2018.
CHARLOTTE, N.C. — Crosland is building Blakeney Crossing, a $26 million, 87,000-square-foot retail center in Charlotte, located opposite the Target-anchored Blakeney shopping center at the corner of Ardrey Kell and Rea roads. The project will be anchored by a 30,000-square-foot Best Buy and PetSmart, both of which will open in the fourth quarter. Additional tenants include Just Fresh, a restaurant that will open a 4,000-square-foot location; the Winestore, which will open a 1,390-square-foot location; Asian Fusion, which will open a 2,500-square-foot location late this year; Salsarita’s Fresh Cantina, which will open a 2,382 square-foot restaurant; and Omaha Steaks, which will open a 1,320-square-foot store. Blakeney is a 270-acre multi-use development, located 2 miles outside of Interstate 485.
CHARLOTTE AND CONCORD, N.C. — Michael Dean of Colliers Pinkard has negotiated the sale of an office building in Charlotte and a land parcel in Concord, respectively, on behalf of two separate buyers. Fox Entertainment/SPEED Channel purchased a 78,200-square-foot office building for its new headquarters in Charlotte, located at 1200 W.T. Harris Blvd. The facility will undergo renovations, which are projected for completion early next year. The company currently occupies a production studio located along Southern Pine Boulevard. Kelly Givens and David Gordon of Studley also represented the buyer in the transaction, and the seller was represented by Norman Walters of The Keith Corp. Heritage House Fabrics acquired a 5.6-acre land parcel in Concord for its new 50,000-square-foot office/warehouse facility. The new building is twice the size of Heritage’s previous headquarters location. The seller was represented by Bryan Crutcher and Ann Johnson of CB Richard Ellis.
