Southeast

Waterton Purchases 298-Unit Apartment Community in Raleigh

by Alex Tostado September 4, 2019

RALEIGH, N.C. — Waterton has purchased Manor Six Forks, a 298-unit apartment community with 12,000 square feet of ground-level retail space, in Raleigh. Waterton plans to renovate unit interiors, the lobby, clubroom and fitness center. The new owner also plans to make improvements to the pool area, including converting the swimming pool to a saltwater pool and upgrading furniture. The community offers one-, two- and three-bedroom floor plans. Communal amenities include a business center, bike storage, media center and movie theater. The retail tenants include a craft beer and wine outlet, nail salon, fitness and martial arts studio and full-service pet care center. The seller and sales price were not disclosed.

September 4, 2019

Acquisitions District of Columbia Retail Southeast

Calkain Arranges $15M Sale of Triple-Net-Leased CVS in D.C.

by Alex Tostado September 4, 2019

WASHINGTON, D.C. — Calkain Cos. has arranged the $15 million sale of a triple-net-leased CVS property in Washington, D.C. The 8,754-square-foot building is located at 3323, 3325-3329 Connecticut Ave. NW, three miles north of downtown Washington, D.C. The building first served as a pharmacy in the 1950s before being converted to a CVS in 1990. Jonathan Hipp and Rick Fernandez of Calkain represented the seller, an undisclosed family trust, in the transaction. The buyer was a private investor completing a 1031 tax-deferred exchange.

September 4, 2019

Development Florida Multifamily Southeast Student Housing

RISE, Nova Southeastern University Open On-Campus Student Housing Community in Fort Lauderdale

by Alex Tostado September 3, 2019

FORT LAUDERDALE, FLA. — A public-private partnership between RISE: A Real Estate Co. and Nova Southeastern University has opened Mako Hall, a 608-bed living/learning community on the university’s campus in Fort Lauderdale. The development offers a mix of one-, two- and four-bedroom, apartment-style units. Shared amenities include lounge areas, open and semi-private study rooms and an outdoor courtyard with hammocks, table tennis and grilling areas. Nova Southeastern is a private university that has 20,793 enrolled students.

September 3, 2019

Development Retail Southeast Virginia

Barnett Properties Breaks Ground on Publix-Anchored Shopping Center in Northern Virginia

by Alex Tostado September 3, 2019

STAFFORD, VA. — Barnett Properties has broken ground on Embrey Mill Town Center, a Publix-anchored shopping center in Stafford. The property will also feature 26,500 square feet of small shop space. Carter Bank provided construction financing. Freeman Morgan Architects designed the shopping center, and VHB is the engineer. Steve Sartorio of Barnett Properties will handle leasing efforts. Barnett Properties expects to open Embrey Mill Town Center in early 2021. This Publix will join locations in Williamsburg and Fredericksburg as the only Publix stores in Virginia outside of the Richmond metro area.

September 3, 2019

Development Florida Industrial Southeast

Mayorga Organics to Open 33,000 SF Coffee Distribution Facility in Miami

by Alex Tostado September 3, 2019

MIAMI — Mayorga Organics, a producer of organic coffee, will open a 33,000-square-foot distribution facility in Miami. The new facility will work in conjunction with the company’s existing center in Rockville, Md., to distribute coffee along the East Coast. The facility, located across from Miami International Airport at 4101 NW 25th St., is expected to be operational by Nov. 1 and open to the public by Dec. 1 of this year.

September 3, 2019

Acquisitions Alabama Georgia Multifamily Seniors Housing Southeast

Shepherd Living Sells Two Senior Living Properties in Georgia, Alabama

by Alex Tostado September 3, 2019

POOLER, GA. AND MADISON, ALA. — Shepherd Living has sold Shepherd Living at Savannah Quarters in metro Savannah and Shepherd Living at The Range in Madison, both 104-unit senior living communities. Savannah Quarters is located at 101 Shepherd Way in Pooler, about 15 miles west of downtown Savannah. The Range is located at 10801 County Line Road, 15 miles southwest of downtown Huntsville. All Shepherd Living communities offer more than 15,000 square feet of spa and wellness space, more than 10 acres of green space, greenhouses and a monthly farmers market. Atlas Senior Living acquired the properties and rebranded them under its Madison brand. Ari Adlerstein and Ari Dobkin of Meridian Capital arranged the sale and acquisition financing for the transaction. The sales prices were not disclosed.

September 3, 2019

Acquisitions Georgia Multifamily Southeast

Berkadia Arranges $21.8M Sale of Multifamily Property in Metro Atlanta

by Alex Tostado September 3, 2019

DULUTH, GA. — Berkadia has arranged the $21.8 million sale of Villas at Duluth, a 164-unit multifamily property 26 miles northeast of downtown Atlanta in Gwinnett County. The property offers one- through four-bedroom floor plans averaging 1,400 square feet. Communal amenities include a fitness center, playground, pet park, soccer field, swimming pool and a barbecue area. Paul Vetter, Andrew Mays, Judy MacManus and Matt White of Berkadia represented the seller, New York-based The Walden Group, in the transaction. The buyer was Atlanta-based Benimax.

September 3, 2019

Acquisitions Georgia Multifamily Southeast

Vista Realty Partners Sells Two Multifamily Communities in Metro Atlanta for $70M

by Alex Tostado August 30, 2019

ATLANTA — Vista Realty Partners has sold the 280-unit Longwood Vista Apartments and the 324-unit Lakeside Vista Apartments for a total of $70 million. Longwood Vista offers one-, two- and three-bedroom floor plans. The property is located at 2300 Global Forum Blvd. in northeast Atlanta. Communal amenities include a car care center, business center, clubhouse, conference room, swimming pool and a fitness center. Lakeside Vista is located at 2100 Ellison Lakes Drive in Kennesaw, 26 miles northwest of downtown Atlanta. The property offers one- through three-bedroom floor plans and communal amenities including a clubhouse, business center, storage space, fitness center, swimming pool, playground and a tennis court. Atlanta-based Vista Realty Partners developed both communities in 2006 using Low-Income Housing Tax Credits. Fairfield Residential, which specializes in affordable housing, was the buyer.

August 30, 2019

Development Florida Industrial Southeast

Codina Partners, USAA Break Ground on 147,768 SF Industrial Building in Metro Miami

by Alex Tostado August 30, 2019

HIALEAH, FLA. — Codina Partners and USAA Real Estate have broken ground on Building F, a 147,768-square-foot industrial building within Beacon Industrial Park in Hialeah. Codina and USAA are the owners and developers of Beacon Logistics Park, which will comprise more than 1.3 million square feet of industrial space when complete. The campus is located at NW 145th Place and NW 107th Avenue, 23 miles northwest of downtown Miami. Upon completion, Building F will be available to tenants seeking 17,280 square feet and more. RLC Architects designed the industrial park, and Rycon Construction Inc. is the general contractor for Building F.

August 30, 2019

Acquisitions Alabama Multifamily Southeast Student Housing

Capstone Sells Student Housing Community Near University of Alabama

by Alex Tostado August 30, 2019

TUSCALOOSA, ALA. — Capstone Real Estate Investments (CREI) has sold Landmark Apartments, a student housing community located near the University of Alabama in Tuscaloosa. CREI purchased the asset in January 2018 before beginning extensive renovations. Terms of the transaction and the identity of the buyer were not disclosed. Landmark Apartments offers one-, two- and three-bedroom units. Shared amenities include a 24-hour fitness center, business center and printing station, a game room, yoga studio, swimming pool, an outdoor fireplace and grilling station, a tanning bed, lounge, hot tub, sauna, steam room and a pet park.

August 30, 2019

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