HUNTSVILLE, ALA. — MH Hospitality has acquired the Holiday Inn Express Hotel, a 98-room, four-story hotel in Huntsville. Wealth Hospitality Group sold the property for $13.9 million. The Holiday Inn Express Hotel is a newly constructed, 56,963-square-foot hotel that features two elevators, 1,200 square feet of meeting space, an outdoor pool and a fitness center. Situated on 2.7 acres, the property is located about one mile from the U.S. Space & Rocket Center, Huntsville Botanical Garden and the Huntsville campus for the University of Alabama.
JACKSONVILLE, FLA. — Inman Equities has sold Kabana Cove Apartments, an 80-unit multifamily property in Jacksonville, for $8.6 million. Luke McCann and John Rutherford of NAI Hallmark brokered the transaction on behalf of Inman Equities and the buyer, Investor Boardroom. Built in 1974, the property offers 64 two-bedroom, one-bath units and 16 one-bedroom, one-bath units. Community amenities include a clubhouse, laundry facilities and package services. Inman Equities recently renovated the exterior of the property, including new paint, landscaping and pool upgrades. Located at 6595 San Juan Ave. on 3.1 acres, Kabana Cove is situated 8.4 miles from Florida State College at Jacksonville and 20.4 miles from Jacksonville International Airport.
ORLANDO, FLA. — Altamonte Springs, Fla.-based Wendover Housing Partners and Universal Parks & Resorts, a part of Comcast NBCUniversal, have plans to develop Universal’s Housing for Tomorrow initiative, a new approach aimed at helping address the shortage of affordable housing in Orlando. Universal pledged 20 acres of land in Orlando’s tourist corridor to be used for 1,000 units of affordable and mixed-income housing. The company selected Wendover Housing Partners to develop and manage the community. Named Catchlight Crossings, community amenities will include onsite, tuition-free preschool; onsite medical offices; a transportation center for buses, ridesharing and employer shuttles; a 16,000-square-foot retail area; community event space; technology cafés; a makerspace for hobbies, activities and educational events; community gardens; bike and walking paths; neighborhood food pantry; fitness center; game room; playground; two resort style pools; and grilling gazebo. The development plans were submitted to the Orange County Planning and Development department this week.
WELLINGTON, FLA. — Miami-based LV Lending has provided a $24 million loan for the refinancing of Lotis Wellington, a 64-acre mixed-use development underway in Wellington. Camilo Niño, Ricardo Uribe and Alen Hernandez of LV Lending worked with Sean Harrington of The Aztec Group to originate the loan on behalf of Lotis Wellington LLC, an affiliate of Lotis LLC and owned by JKM Wellington Capital LLC. The loan terms were not disclosed. The borrower acquired the Lotis Wellington site for $14.3 million in January 2019. The approved master-planned, mixed-use project features 191 apartments, 23,810 square feet of retail space, 17,203 square feet of professional office space, two signature restaurants, 40,000 square feet of medical offices, an early learning center and two senior living facilities. Construction began in January 2022 with the first restaurants scheduled to open in late 2022. Located at 1351-1381 South State Road 7, the property is situated adjacent to Wellington Regional Hospital.
MIAMI BEACH, FLA. — Franklin Street has brokered the $9.3 million sale of North Miami Beach Financial Center, a two-story office building leased in North Miami Beach. Ivan Herrera of Florida Royalty Investments Group LLC acquired property from Alberto Lensi of Addi Properties. Adam Tiktin and Greg Matus of Franklin Street represented the seller in the transaction. Built in 1972, North Miami Beach Financial Center is located in an opportunity zone and features a two-story Regions Bank branch. The SAE Institute has also been a tenant of the building since 2002. The property features fundamentals including 675 feet of frontage along West Dixie Highway, easy access and parking. Located at 16051 W. Dixie Highway, the property is situated about 17 miles from Miami International Airport and downtown Miami.
WOODBRIDGE, VA. — Greysteel has arranged the sale of Friendship Place Apartments, a 40-unit multifamily property in Woodbridge. Kyle Tangney and Max Goldstein of Greysteel represented the undisclosed seller. The sales price and buyer were also not disclosed. Built in 1963, Friendship Place offers one- and two-bedroom floorplans averaging 787 square feet. Community amenities include laundry facilities, and unit features include in-unit washers and dryers. Located at 14400 Gemstone Drive, the property is situated about 16 miles from Washington, D.C. and 45.6 miles from University of Maryland.
ATLANTA — International fashion and leisure department retailer YOYOSO will open its first Atlanta store at Atlantic Station, a mixed-use destination in Atlanta’s West Midtown area that features over 30 stores and restaurants, entertainment, hotels and 700,000 square feet of Class A office space, including a new office tower anchored by Microsoft. Located at 260 18th St. NW, the 8,244-square-foot space will include both men’s and women’s apparel at affordable prices from over 600 suppliers across the globe. YOYOSO is set to open its doors this fall. YOYOSO was founded in 2014 by Huan MA in China and opened its first location in the United States in 2019 with a Miami Beach storefront. The fashion enterprise has since expanded to over 1,000 locations across 36 countries and over 380 cities. The Atlantic Station location will be open seven days a week, with grand opening plans to be announced soon. Atlantic Station has also welcomed other tenants recently to the property including Derek Automotive, an electric vehicle company. The landlord of Atlantic Station, Hines, also plans to add Rosé Bistro and Champagne Bar and Atlanta Breakfast Club later this year.
ATLANTA — Trammell Crow Co. (TCC) and its residential subsidiary High Street Residential (HSR), along with Georgia Advanced Technology Ventures (GATV), have closed on ground leases and are ready to begin construction on the first phase of a life sciences and multifamily development adjacent to Atlanta’s Georgia Institute of Technology campus. Formerly known as Technology Enterprise Park, the site is now named Science Square. The first phase will include TCC’s Science Square Labs, a 364,740-square-foot speculative lab and office tower. The lab project is the only ground-up commercial lab space under construction in the Atlanta market, according to TCC. Phase I will also include HSR’s 280-unit multifamily building, the firm’s first residential development in Atlanta. The multifamily component will include shared parking and ground-floor retail space. Designed by Perkins + Will, Science Square Labs will rise 13 stories with 35,558-square-foot floor plates. The facility will also feature ground-floor retail space and amenities such as a fitness center, conference space, indoor-outdoor tenant lounge and outdoor amenity deck. TCC is seeking LEED and WELL certifications for the property and plans to incorporate View Dynamic Glass, which controls ultraviolet and visible light from entering the building without blinds. Additionally, the project will feature …
ATLANTA AND DENVER — Berkadia has completed the $375 million sale of a 12-property portfolio in Georgia totaling 2,459 apartments. Paul Vetter, Andrew Mays, Judy MacManus and Matt White of Berkadia completed the sale on behalf of the seller, JAMCO Properties. Berkadia’s Denver and Atlanta offices worked together closely throughout the process to arrange long-term Freddie Mac financing on behalf of the undisclosed buyer. The financing includes a mix of fixed and floating-rate, non-recourse loans. The properties in this portfolio include the following: Aspen Pointe, a 300-unit property in Roswell; Emerald Pointe, a 196-unit property in Riverdale; Lakeside Townhomes, a 177-unit property in College Park; Linden Ridge, a 210-unit property in Stone Mountain; Maplewood Pointe, a 218-unit property in Jonesboro; Morrowood Townhouses, a 264-unit property in Morrow; Oak Run, a 144-unit property in Jonesboro; Stonetree, a 232-unit property in East Point; Stratford Arms, a 100-unit property in Riverdale; The Village at Wesley Chapel, a 218-unit property in Decatur; Willow Lake, a 280-unit property in Stone Mountain; and The Woods at Southlake, a 120-unit property in Jonesboro.
MEMPHIS, TENN. — SRS Real Estate Partners has brokered the sale of Cross Creek Shopping Center, a 262,847-square-foot retail property in Memphis. A New York-based entity doing business as Allied Development of Memphis LLC sold the property for an undisclosed price to Aspen Real Estate. Kyle Stonis and Pierce Mayson of SRS’ Investment Properties Group represented the seller in the transaction, and Aspen was self-represented. Cross Creek is shadow-anchored by The Home Depot and features tenants including Ross Dress for Less, Conn’s HomePlus, dd’s Discounts and Five Below. Located at 3505-3619 Riverdale Road, the property is situated 18.8 miles from downtown Memphis.