ORLANDO, FLA. — Atlanta-based Williams Asset Management has purchased the Copper Terrace Apartments, a 300-unit luxury garden apartment community in Orlando, for $25 million. The community is situated on 18 acres alongside Kirkman Rd. Kevin Judd and Dan Gasti of Apartment Realty Advisors’ Boca Raton office represented the seller.
Southeast
ATLANTA, AUSTELL AND DECATUR, GA. — New York-based GEI Capital Resources has acquired three multifamily properties, totaling 994 units, in Georgia from New York-based Sterling American Property. The properties include Park at Bouldercrest, a 438-unit apartment complex located at 26 Bouldercrest Ln. SE in Atlanta; West Chase, a 288-unit complex located at 7200 Six Flags Pkwy. in Austell; and Park on Candler, a 268-unit complex located at 2571 Candler Rd. in Decatur. Sterling was represented in-house by Mel Mayers.
GREENVILLE, S.C. — Los Angeles-based SCI Real Estate, a tenant-in-common sponsor, has acquired Verdae Village, a 241,548-square-foot shopping center in Greenville. Tenants include Super Bi-Lo, Steinmart, Office Depot and The Olive Garden.
WASHINGTON, D.C. — The Thomas Sommerville Companies has acquired the former A&A Hardware Building, a two-story, 40,000-square foot warehouse and office building in Washington, D.C., from Theodore Grossman for $3.5 million. The property is located at 6250 Chillum Place NW. Neil Simon and Jonathan Butts of Merrifield, Va.-based Uniwest Commercial Realty represented the seller, and Alan Coppola of KLNB’s Columbia, Md. office represented buyer. The building will continue to be used as a hardware, plumbing and electrical supply company.
WINSTON-SALEM, N.C. — Virginia Beach, Va.-based The Tetra Companies is developing Stafford Place, a $67 million, 36-acre mixed-use development in Winston-Salem. The project will include 266 apartments, 51,000 square feet of office space and 34,560 square feet of retail space. The development is located on Peters Creek Parkway and will be completed in 2011.
CHARLOTTE, N.C. — CB Richard Ellis Investors has acquired a joint venture interest with partner Childress Klein in 13 buildings, totaling 236,497 square feet, at the Rivergate Shopping Center, a 543,282-square-foot lifestyle/community center in Charlotte. The shopping center is 94 percent leased. Tenants include Best Buy, OfficeMax, Marshalls, Books-A-Million, PetSmart, and anchors The Home Depot and Target.
PORT ORANGE, FLA. — Chattanooga, Tenn.-based CBL & Associates and The Benchmark Group are developing The Pavilion at Port Orange, a 550,000-square-foot open-air shopping center, located in the northwest corner of Interstate 95 and Taylor Rd. The center will be anchored by Belk, Barnes & Noble, Circuit City, HomeGoods/Marshalls Megastore, Michaels and a 14-screen Hollywood Theater. The project is expected to deliver in fall 2009.
SANFORD, FLA. — Matthew McKeever and Mike Davis of Cushman & Wakefield represented the seller, Reflections at Hidden Lake LLC, in the sale of the Reflections at Hidden Lake, a 96,000-square-foot office complex in Sanford, for $9 million. The property includes a 60,000-square-foot, three-story building and an adjacent 36,000-square-foot single-story building. The complex is located on Lake Mary Blvd. across from the Seminole Community College, and was 98 percent leased at closing.
BOYNTON BEACH, FLA. — Tal Frydman of Marcus & Millichap’s Fort Lauderdale, Fla. office has represented Barbara Bodzo in the $4.2 million sale of High Ridge Apartments in Boynton Beach. 2861 South Seacrest Blvd LLC purchased the 64-unit, 8-building property.
BALTIMORE, MD. — Baltimore-based Sheppard Pratt Health System has acquired Beth Tfiloh’s lower school and preschool campus in Baltimore for an undisclosed price. The campus includes two school buildings, a dining hall, multi-purpose building, athletic fields, playground and 13 cabins. Bob Millhauser, David Baird and Richard Thomas of Cushman & Wakefield’s Baltimore office represented seller Beth Tfiloh Glyndon LLC, and the buyer was represented in-house. Beth Tfiloh will relocate to a 56,000-square-foot complex in Pikesville for the 2009 – 2010 school year. Sheppard Pratt will convert the property to one of its Forbush Schools, which specializes in therapeutic services and special education for children.