Wednesday, August 27, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Southeast

LoansMultifamilySoutheastTennessee

Berkadia Provides $45M Agency Refinancing for Apartment Community in Memphis

by John Nelson

MEMPHIS, TENN. — Berkadia has arranged a $45 million Fannie Mae refinancing loan for Residences at Lakeview, an 827-unit apartment community located at 2774 S. Mendenhall Road in Memphis. Mitch Sinberg, Brad Williamson, Matthew Robbins, Scott Wadler and Mike Basinski of Berkadia originated the 10-year, fixed-rate loan on behalf of the borrower, a joint venture between New York City-based Atlas Real Estate Partners and Washington, D.C.-based West End Capital Group. Atlas-West End purchased the property in February 2021 and recently completed a value-add program at the community. Built in 1969, Residences at Lakeview features one-, two-, three- and four-bedroom units ranging from 400 to 1,628 square feet. Community amenities include a newly built clubhouse and pool, fitness center, four playgrounds, a dog park, onsite maintenance and management and package services.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaOfficeSoutheast

Koelbel Acquires 189,212 SF Northridge Center Office Campus in Atlanta

by John Nelson

ATLANTA — Koelbel & Co., a value-add real estate investment firm based in Colorado, has purchased the Northridge Center office complex in Atlanta’s Central Perimeter submarket. The 189,212-square-foot property comprises two office buildings located at 365 and 375 Northridge Center Road. Ryan Reethof and Jay O’Meara of CBRE represented the seller, Pacific Oak Capital Partners, in the transaction. The sales price was not disclosed. Charlie Clark and Matthew Smith of CBRE’s Debt & Structured Finance team arranged an undisclosed amount of acquisition financing for Koelbel, which plans to upgrade the office complex with a new tenant lounge, common conference room and ready-to-move-in spec suites, as well as enhancements to common areas and exterior amenities. The firm has selected Normandy Partners to manage Northridge Center, which is Koelbel’s first acquisition in Georgia.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaRetailSoutheast

Plaza Advisors Arranges Sale of 103,427 SF Shopping Center in Orlando

by John Nelson

ORLANDO, FLA. — Plaza Advisors has arranged the sale of Oakhill Village, a 103,427-square-foot shopping center located at the intersection of Hiawassee and Old Winter Garden roads in Orlando. An offshore investor doing business as Escape 22 Oakhill LLC purchased the center from an entity doing business as Oakhill Village Associates Ltd. for an undisclosed price. Built in 1989, Oakhill Village is situated on 11.4 acres about 10 miles northwest of Orlando International Airport. The property was 99 percent leased at the time of sale to tenants such as anchor DG Market + pOpshelf.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialNorth CarolinaSoutheast

Poettker Construction Breaks Ground on 946,348 SF Industrial Complex in Metro Charlotte

by John Nelson

GASTONIA, N.C. — Poettker Construction has broken ground on the second phase of Gateway 85, an industrial park located 22 miles west of Charlotte in Gastonia. NorthPoint Development is the project developer for both tilt-wall facilities. Phase II comprises Building 4, a 241,114-square-foot warehouse located on 15 acres at 3145 Aberdeen Blvd., and Building 7, a 705,234-square-foot warehouse located on 40 acres at 3301 Lineberger Road. Preparation of the 55-acre development will entail the relocation of an existing road that goes through the site and reworking the intersection, as well as site clearing and hauling away excess dirt. No construction timeline was disclosed. Poettker Construction is nearing completion on a similar project for NorthPoint in Salisbury, N.C.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansMultifamilySoutheast

Lotus Capital Arranges $70M Acquisition, Construction Financing for Bay Harbor Islands Residential Project in Miami

by John Nelson

MIAMI — Lotus Capital Partners LLC has arranged a $70 million acquisition and construction financing package for a waterfront condominium project on Bay Harbor Islands in Miami. The sponsor is a partnership between Pearl Property Group and L3C Capital Partners, which is acquiring a one-acre site facing the Bay Harbor waterway that currently consists of 30 condos. Lotus arranged the dual-structure loan through MSD Partners to provide acquisition financing for the borrower to purchase the site and funds to construct a new residential project. The borrower plans to demolish the existing condos and build 46 ground-up condos averaging 2,800 square feet. The development will also include a fitness center, resort-style club pool overlooking the water and a marina.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMultifamilySoutheastTennessee

Berkadia Provides $45M Agency Refinancing for Apartment Community in Memphis

by John Nelson

MEMPHIS, TENN. — Berkadia has arranged a $45 million Fannie Mae refinancing loan for Residences at Lakeview, an 827-unit apartment community located at 2774 S. Mendenhall Road in Memphis. Mitch Sinberg, Brad Williamson, Matthew Robbins, Scott Wadler and Mike Basinski of Berkadia originated the 10-year, fixed-rate loan on behalf of the borrower, a joint venture between New York City-based Atlas Real Estate Partners and Washington, D.C.-based West End Capital Group. Atlas-West End purchased the property in February 2021 and recently completed a value-add program at the community. Built in 1969, Residences at Lakeview features one-, two-, three- and four-bedroom units ranging from 400 to 1,628 square feet. Community amenities include a newly built clubhouse and pool, fitness center, four playgrounds, a dog park, onsite maintenance and management and package services.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaOfficeSoutheast

Koelbel Acquires 189,212 SF Northridge Center Office Campus in Atlanta

by John Nelson

ATLANTA — Koelbel & Co., a value-add real estate investment firm based in Colorado, has purchased the Northridge Center office complex in Atlanta’s Central Perimeter submarket. The 189,212-square-foot property comprises two office buildings located at 365 and 375 Northridge Center Road. Ryan Reethof and Jay O’Meara of CBRE represented the seller, Pacific Oak Capital Partners, in the transaction. The sales price was not disclosed. Charlie Clark and Matthew Smith of CBRE’s Debt & Structured Finance team arranged an undisclosed amount of acquisition financing for Koelbel, which plans to upgrade the office complex with a new tenant lounge, common conference room and ready-to-move-in spec suites, as well as enhancements to common areas and exterior amenities. The firm has selected Normandy Partners to manage Northridge Center, which is Koelbel’s first acquisition in Georgia.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaRetailSoutheast

Plaza Advisors Arranges Sale of 103,427 SF Shopping Center in Orlando

by John Nelson

ORLANDO, FLA. — Plaza Advisors has arranged the sale of Oakhill Village, a 103,427-square-foot shopping center located at the intersection of Hiawassee and Old Winter Garden roads in Orlando. An offshore investor doing business as Escape 22 Oakhill LLC purchased the center from an entity doing business as Oakhill Village Associates Ltd. for an undisclosed price. Built in 1989, Oakhill Village is situated on 11.4 acres about 10 miles northwest of Orlando International Airport. The property was 99 percent leased at the time of sale to tenants such as anchor DG Market + pOpshelf.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaLoansOfficeSoutheast

Brand Atlantic, Wheelock Receive $87M Construction Loan for Office Development in Downtown West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — Brand Atlantic Real Estate Partners and Wheelock Street Capital have received an $87 million construction loan from ACORE Capital for the development of Banyan & Olive, two Class A office buildings in downtown West Palm Beach. Dustin Stolly and Jordan Roeschlaub of Newmark arranged the loan, terms of which were not provided. The financing provides funding for the gut renovation of 111 Olive, which includes 27,000 rentable square feet of office space and 11,000 rentable square feet of retail space to be delivered by year-end. The financing also provides funding for the vertical construction of 300 Banyan, a 12-story tower with 115,000 rentable square feet of office space, 6,000 rentable square feet of food and beverage space and roughly 300 parking spaces. Completion of 300 Banyan is slated for early 2024. Banyan & Olive will feature amenities such as 15,000 square feet of private office terraces, a golf simulator lounge and a seventh-floor amenity area with a fitness center and open-air lounge. Set in the heart of the Clematis Waterfront District, the buildings are situated near a variety of restaurants, bars, shops, Flagler Park and the boardwalk. — Kristin Hiller

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMixed-UseMultifamilyRestaurantRetailSoutheastTennessee

Doster Construction Completes Novel Edgehill Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — Doster Construction Co. has completed Novel Edgehill, a five-story mixed-use apartment community situated just south of Nashville’s Gulch district. Charlotte-based Crescent Communities and locally based Pearl Street Partners co-developed the 270-unit community, which features a five-level parking garage and rooftop pool. KTGY Architecture designed Novel Edgehill with studio, one- and two-bedroom floor plans. The asset also features ground-floor retail space leased to Land of a Thousand Hills Coffee, The Mercantile, Bodyrok gym and Roc and Roe Style Bar. Doster Construction broke ground on the project in 2020. According to the property website, rental rates range from $1,905 to $3,500 per month.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts