Southeast

American Landmark Acquires 329-Unit Multifamily Property Near Charleston

by Alex Tostado October 29, 2019

SUMMERVILLE, S.C. — American Landmark Apartments has acquired Alta Brighton Park, a 329-unit multifamily property in Summerville. American Landmark will invest $800,000 and rename the property Elevate at Brighton Park. The property offers one- through three-bedroom floor plans. Communal amenities include a saltwater swimming pool, outdoor lounge area with grills, 24-hour fitness center and a resident clubhouse. Alta Brighton Park is located at 115 Great Lawn Drive, 25 miles north of downtown Charleston. Alex Okulski, Sean Wood, John Heimburger, Dean Smith, John Munroe and Jason Kon of Newmark Knight Frank (NKF) represented the seller in the transaction. Bill Weber, Matt Mense, Ari Schwartzbard and Henry Stimler of NKF arranged acquisition financing on behalf of American Landmark. Further details of the transaction were not disclosed.

October 29, 2019

District of Columbia Features Retail Southeast

Holiday Shoppers Plan to Spend 4 Percent More This Year, NRF Survey Shows

by Alex Tostado October 29, 2019

WASHINGTON, D.C. — American consumers plan to boost their holiday spending 4 percent this season on a year-over-year basis, according to the National Retail Federation (NRF) and Prosper Insight & Analytics. The projection is based on a survey of 7,782 adult consumers. Specifically, shoppers expect to spend an average of $1,047.83 this year, up 4 percent from last year’s total of $1,007.24, the survey findings show. Meanwhile, shoppers who are between the ages of 35 and 44 plan to spend an average of $1,158.63 this holiday season. Consumer spending is grouped into three separate categories: gifts for family, friends and co-workers, at an average $658.55; non-gift holiday items such as candy and food, decorations, greeting cards and flowers at $227.26; and other non-gift purchases that take advantage of the deals and promotions throughout the season at $162.02. “Consumers are in good financial shape and willing to spend a little more on gifts for the special people in their lives this holiday season,” says Matthew Shay, president and CEO of Washington, D.C.-based NRF, the world’s largest retail trade association. Furthermore, 52 percent of shoppers between the ages of 25 and 34 plan to purchase gifts for co-workers, and 82 percent of …

October 29, 2019

Development Industrial Southeast Tennessee

Holladay Properties Breaks Ground on 330,000 SF Phase III of Industrial Park Near Nashville International Airport

by Alex Tostado October 28, 2019

NASHVILLE, TENN. — Holladay Properties has broken ground on Phase III of Airport Logistics Park, a 95-acre master-planned industrial park near Nashville International Airport on Old Murfreesboro Pike. Phase III will span 330,000 square feet. Holladay expects Phase I and II to deliver in spring 2020 while Phase III is expected to deliver in fourth-quarter 2020. Ronnie Wenzler of Cushman & Wakefield oversees leasing efforts for the logistics park. Phases I and II comprise 402,500 square feet, 329,400 square feet of which is leased to companies including Aramark, DHL, Power Home Remodeling Group, Advance Electric & Industrial, PGW Auto Glass, Safeway and Overhead Door. Airport Logistics Park’s design team includes civil engineer Kimley-Horn and architect TRC Worldwide. Eutaw Construction has begun site work and a general contractor has yet to be named.

October 28, 2019

Development Florida Multifamily Southeast

Roger B. Kennedy Construction Begins 318-Unit Multifamily Property in Fort Myers

by Alex Tostado October 28, 2019

FORT MYERS, FLA. — Roger B. Kennedy Construction has begun construction on Murano at Three Oaks Apartments in Fort Myers on behalf of developer Courtelis Co. Although costs were not expressly disclosed, the contractor said its contract is worth $38 million. The property is a planned 318-unit apartment community located at 17167 Three Oaks Parkway. The community will feature two four-story apartment buildings, a clubhouse, pool pavilion and detached garages. Forum Architecture & Interior Design designed the property, which is expected to deliver in January 2021.

October 28, 2019

Acquisitions Multifamily South Carolina Southeast

Capstone Negotiates Sale of 304-Unit Apartment Complex in Columbia

by Alex Tostado October 28, 2019

COLUMBIA, S.C. — Capstone Apartment has negotiated the sale of Hunter’s Way, a 304-unit apartment complex in Columbia. The garden-style property offers one-, two- and three-bedroom floor plans spanning 38 two-story buildings. The community was 92 percent occupied at the time of sale. Communal amenities include a swimming pool, playground and clubhouse, as well as laundry facilities in each building. The buyer, GLP Investments, plans to rebrand the community and implement a multimillion-dollar renovation. Ron Corrao, Alex McDermott, Austin Green, and Brian Ford of Capstone represented the seller, Rivercity Ventures, in the transaction. The sales price was not disclosed.

October 28, 2019

Acquisitions Georgia Retail Southeast

Halpern Enterprises Acquires 133,310 SF Shopping Center in North Georgia

by Alex Tostado October 28, 2019

CALHOUN, GA. — Halpern Enterprises has acquired Indian Hills, a 133,310-square-foot shopping center in Calhoun. Developed in 1998, Indian Hills’ current tenants include Chick-fil-A, Hibbett Sports, CATO, GNC, PT Solutions and Tractor Supply. Taco Bell and Captain D’s are located on separately owned parcels directly in front of the property. Indian Hills is located at 429 Ga. Highway 53, directly across from Mohawk Industries, which employs 3,400 people. The seller and sales price were not disclosed.

October 28, 2019

Acquisitions Multifamily South Carolina Southeast

Berkadia Arranges $28M Sale of Multifamily Community in North Charleston

by Alex Tostado October 28, 2019

NORTH CHARLESTON, S.C. — Berkadia has arranged the $28 million sale of Planters Crossing, a 256-unit multifamily community in North Charleston. The property is located at 7910 Crossroads Drive, 15 miles north of downtown Charleston. The community offers one- and two-bedroom floor plans. Communal amenities include a clubhouse, swimming pool, sundeck, barbecue area and laundry facilities. Mark Boyce and Blake Coffey of Berkadia represented the seller, Intersouth Realty, in the transaction. John Bray of Berkadia originated a Fannie Mae acquisition loan on behalf of the buyer, Charleston-based Blaze Partners.

October 28, 2019

Development Georgia Hospitality Loans Mixed-Use Southeast Top Stories

Selig Enterprises Secures $340M Financing, Announces Hotel Brand at Mixed-Use Development in Midtown Atlanta

by Alex Patton October 25, 2019

ATLANTA — Selig Enterprises has secured $340 million in construction financing for 1105 West Peachtree, its three-tower, mixed-use development in Midtown Atlanta. The project will feature a 675,000-square-foot office tower, a 64-unit condominium tower, and a 178-room Epicurean Hotel. The towers will also house 25,000 square feet of ground-floor retail. The Blackstone Group Inc. provided the construction loan, partially financing the $530 million project. “We have been fortunate enough to already garner the attention of some prominent tenants in the market including the signing of Smith, Gambrell & Russell for five floors [of the office tower],” says Chris Ahrenkiel, executive vice president of Selig Development. “The preleasing activity allowed for strong finance and equity options and also warranted an increase in the building size to over 675,000 square feet — the single largest tower to start construction in Atlanta in more than a decade.” Selig is partnering with Mainsail Lodging & Development to build The Epicurean Atlanta hotel, which will operate under the Marriott Autograph Collection banner. The hotel will offer 178 rooms, a full-service culinary program, conference and event facilities, and an outdoor terrace on the ninth floor. 40 West 12th will offer condos ranging from $600,000 to $2.2 million, in …

October 25, 2019

Acquisitions Multifamily Southeast Virginia

Bristol Development Sells New Multifamily Property in Richmond for $103M

by Alex Tostado October 25, 2019

RICHMOND, VA. — Bristol Development Group has sold 2000 West Creek, a 373-unit multifamily property that the company delivered in 2018. Richmond-based Capital Square acquired the asset for $103 million. The property is located at 2000 Broad Branch Road in Richmond’s West Creek neighborhood. The community offers one- and two-bedroom floor plans. Communal amenities include a swimming pool, outdoor courtyard, fitness center and a clubroom. Will Mathews, Charles Wentworth, G.S. Hankins, Rawles Wilcox, Victoria Pickett, Clay Ellis and Garrison Gore of Colliers International represented the seller in the transaction.

October 25, 2019

Development Florida Multifamily Southeast

Catalyst Breaks Ground on 318-Unit Apartment Complex in Downtown Fort Myers

by Alex Tostado October 25, 2019

FORT MYERS, FLA. — Catalyst Asset Management has broken ground on West End at City Walk, a 318-unit apartment complex in downtown Fort Myers. The community will be part of Catalyst’s City Walk mixed-use development that will include 108,000 square feet of retail and office space and a hotel. West End at City Walk will offer studio to two-bedroom floor plans, as well as 15,000 square feet of office space. Communal amenities will include a heated saltwater swimming pool, multiple outdoor kitchens with barbecue grills, fitness center, yoga room, e-lounge, conference room, coworking spaces, pet spa, an entertainment kitchen with indoor and outdoor dining areas and a covered terrace on the fifth floor. Catalyst expects to deliver West End at City Walk in late 2020. Hancock Bank and Iberia Bank provided construction financing. PDS Architecture is West End’s designer, and Brooks and Freund is the general contractor. ZRS Management LLC will provide leasing and property management services with preleasing expected to begin in December 2020.

October 25, 2019

Newer Posts

Older Posts