Southeast

ALEXANDRIA, VA. —Trammel Crow Residential and Olayan America Corp.’s New York office are developing Alexan Carlyle in a joint venture for $94 million in Alexandria, Va. The 280-unit, five-story luxury apartment building will be located on a 2.8-acre parcel at 800 John Carlyle St., two blocks from the new 2 million-square-foot U.S. Patent and Trademark Office. The property will feature resort-style amenities including a pool, clubhouse, exercise room, billiards room and business center. Architects Cubellis DCA designed three distinct portions of the building to reflect the classic Federal architecture of the nearby Old Town Alexandria, the art-deco period and an urban lofts look, respectively. The Alexan Carlyle is part of the 77-acre master planned urban mixed-use center. The first units are expected to deliver in the third quarter of 2009.

SOUTHEAST APARTMENT PARTNERS ARRANGE SALES IN FLORIDA AND NORTH CAROLINA JACKSONVILLE, FLA., AND WINSTON-SALEM, N.C. — Brian Moulder of Southeast Apartment Partners’ Jacksonville, Fla., office brokered the sale of Island Pointe Apartments in Jacksonville for $18.6 million. The multifamily complex features 288 garden-style units. The seller is an affiliate of Denver-based Sagebrush Realty Holdings, and the buyer is Atlanta-based D.E.L. Development. Daniel Eller of Southeast Apartment Partners’ Raleigh-Durham, N.C. office has represented Steven D. Bell and Company in the sale of Deerwood Crossing and Dutch Village, a two-property multifamily portfolio located in Winston-Salem, N.C., for $19.3 million. Combined, the properties contain 288 townhome units and are situated on more than 42 acres of land. Vaios Theodorakos of Framingham, M.A.-based VTT Properties purchased the properties.

ATLANTA — Gallery Residences, a 27-story, multifamily high-rise developed by Novare Group, will open in February at the intersection of Peachtree and Rumson roads in Atlanta’s Buckhead district. Features of the 203-unit property include 10-foot ceilings, floor-to-ceiling windows, a fitness facility pre-wired for iPod docking stations and a 24-hour concierge. A private, 1,000-square-foot gallery on the ground floor will spotlight artwork from Atlanta-area galleries.