Southeast

S.J. Collins Sells New Whole Foods Market 365-Anchored Shopping Center in Metro Atlanta

by Alex Tostado August 14, 2019

DECATUR, GA. — Atlanta-based developer S.J. Collins Enterprises has sold the retail portion of North Decatur Station, a newly delivered mixed-use development in Decatur. The fully leased, 86,164-square-foot shopping center is anchored by Whole Foods Market 365 and opened in early 2019. The center is located a 1555 Church St., eight miles east of downtown Atlanta. Other tenants include Hollywood Feed, Gusto!, Big Peach Running, Club Pilates, Jason’s Deli, F45 Fitness and Thrive Vet Clinic. North Decatur Station also includes Solis Decatur Apartments, a 290-unit multifamily community that was not included in the sale. Fain Hicks, Lane Breedlove and Tyler Anderson of Cushman & Wakefield represented S.J. Collins in the transaction. Weingarten Realty Investors acquired the property. The sales price was not disclosed.

August 14, 2019

Hospitality Loans Louisiana Southeast

Sonnenblick-Eichner Arranges $46M Refinancing Loan for Maison Dupuy Hotel in New Orleans

by Alex Tostado August 14, 2019

NEW ORLEANS — Sonnenblick-Eichner Co. has arranged a $46 million refinancing loan for the Maison Dupuy, a five-story, 200-room hotel in New Orleans’ French Quarter neighborhood. Loan proceeds will be used to pay off existing debt, as well as to renovate the property. Plans for the renovation were not disclosed. Maison Dupuy is located at the corner of Toulouse and Burgundy streets, two blocks from Bourbon Street. The independent hotel offers a 4,088-square-foot courtyard, heated swimming pool, cabanas, fitness center, business center, meeting space, 65 parking spaces and the Bistreaux Restaurant & Bar. The lender was a global asset management company that has a real estate lending platform. The borrower was not disclosed.

August 14, 2019

Acquisitions Affordable Housing Florida Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Provides $27.9M Acquisition Loan for Affordable Housing Community in Orlando

by Alex Tostado August 14, 2019

ORLANDO, FLA. — Walker & Dunlop has provided a $27.9 million Freddie Mac acquisition loan for Brooke Common Apartments, a 288-unit affordable housing community in Orlando. The borrower is Avanath Capital Management. Half of the units, which are spread out over 38 garden-style buildings, are reserved for those making 60 percent of the area median income (AMI), while 5 percent of the units are reserved for those making 55 percent of the AMI. Brooke Commons Apartments is located 13 miles north of downtown Orlando and offers communal amenities such as a swimming pool, playground, fitness center, volleyball court, business center and a clubhouse. The seller was not disclosed.

August 14, 2019

Acquisitions Florida Multifamily Southeast

Balfour Beatty, ApexOne Buy 300-Unit Apartment Complex in West Jacksonville

by Alex Tostado August 13, 2019

JACKSONVILLE, FLA. — A partnership between Balfour Beatty and ApexOne Investment Partners has bought Landings at Lake Gray, a 300-unit apartment complex in west Jacksonville. The property was built in 2005 and offers one-, two- and three-bedroom floor plans averaging 952 square feet. Community amenities include a swimming pool, fitness center, clubhouse, outdoor kitchen and a playground. The buyers plan to immediately renovate the 14-acre property, which will encompass improvements to landscaping and curb appeal, an upgraded amenity package and interior renovations to further modernize kitchens, lighting and flooring. Shelton Granade, Joe Ayers and Cliff Taylor of CBRE represented the seller in the transaction, American Landmark. The sales price was not disclosed.

August 13, 2019

Acquisitions Florida Multifamily Southeast

Bell Partners Acquires 249-Unit Multifamily Community in South Florida

by Alex Tostado August 13, 2019

POMPANO BEACH, FLA. — Bell Partners has acquired Overlook Pointe, a 249-unit multifamily community in Pompano Beach. The Greensboro, N.C.-based investor will rename the community Bell Lighthouse and manage the property. The community offers one-, two- and three-bedroom floor plans. Communal amenities include a swimming pool, barbecue area with grills, fitness center, free Wi-Fi in common areas, coffee bar and a six-story parking garage with 413 spaces. The seller and sales price were not disclosed.

August 13, 2019

Acquisitions Georgia Office Southeast

Coldwell Banker Brokers Sale of 140,800 SF Office Building in Downtown Macon, Georgia

by Alex Tostado August 13, 2019

MACON, GA. — Coldwell Banker Commercial Eberhardt & Barry Inc. has brokered the sale of a 140,800-square-foot office building in downtown Macon that used to house the Macon Telegraph, a local newspaper. In 2004, producer, publisher and owner of the Macon Telegraph, Macon Telegraph Publishing Co., moved the newspaper’s production process to Columbus, Ga. While some employees relocated at the time, the remaining employees relocated to the former Bank of America Building in 2014. The building is located at 120 Broadway St. A local investor bought the property and intends to lease it for various business uses. The McClatchy Co., which bought the Macon Telegraph in 2006, was the seller. The sales price was not disclosed.

August 13, 2019

Acquisitions Georgia Office Southeast

CBRE Arranges $19M Sale of Office Building in Atlanta’s Cumberland-Galleria Area

by Alex Tostado August 13, 2019

ATLANTA — CBRE has arranged the $19 million sale of 3301 Windy Ridge, a six-story, 106,574-square-foot office building within Wildwood Office Park in Atlanta’s Cumberland-Galleria submarket. The property is located near The Battery Atlanta and SunTrust Park, home to Major League Baseball’s Atlanta Braves. 3301 Windy Ridge was 98 percent leased to a diverse tenant roster at the time of sale. Individuals Christian Lopez and Jeff Lopez acquired the property from a joint venture between Greenstone Partners and RSF Partners. Tom Shafer and John Hinson of CBRE represented the seller.

August 13, 2019

Acquisitions Office South Carolina Southeast

Trinity Partners Negotiates $6.8M Sale of Office Building in Columbia

by Alex Tostado August 13, 2019

COLUMBIA, S.C. — Trinity Partners has negotiated the $6.8 million sale of 7 Technology Circle, a four-story, 86,733-square-foot office building in northeast Columbia. The property is located off Farrow Road near Interstate 77, about 10 miles northeast of downtown Columbia. Macon Lovelace and Paul Hartley of Trinity Partners represented the seller, Corocan Columbia LLC, in the transaction. Milton Thomas of Lee & Associates represented the buyer, 7 Technology Circle LLC.

August 13, 2019

Market Reports Retail Southeast Southeast Market Reports Tennessee

Impressive Retail Growth Makes Chattanooga More Than Just a Place to Visit

by Taylor Williams August 13, 2019

If you have visited Chattanooga in the past year, it should come as no surprise that you are in fine company. Mayors and Economic Development executives from across the nation have been flocking to the Scenic City. Envious of the Chattanooga success story, they have come to witness firsthand the ongoing transformation that has made Chattanooga one of the most livable, sensational and progressive mid-sized cities in America. The Chattanooga retail market is strong, chiefly due to the overall health and culture of the entire city. River City Co., a longtime successful, private nonprofit led by CEO Kim White, touts itself as the economic development engine for downtown. It reports the cost of living in vibrant downtown Chattanooga is 15.9 percent less than the national average. This has drawn everyone from millennials to retirees to the vibrancy and livability of the city. Tourism in a non-coastal Southern city with fewer than 180,000 residents may seem not even worth pursuing, but Chattanooga hosts more than 3 million annual visitors. Travelers are lured by destinations such as the Tennessee Aquarium, Children’s Discovery Museum and the IMAX. There are also events such as the Ironman; the Head of the Hooch, which is one …

August 13, 2019

Development Florida Loans Office Southeast

JLL Arranges $300M Construction Loan for Office Tower in Miami

by Alex Tostado August 12, 2019

MIAMI — JLL has arranged a $300 million construction loan for the development of 830 Brickell, a 56-story, 1 million-square-foot office tower in Miami’s Brickell district. MSD Partners provided the four-year loan to the developers, a joint venture between OKO Group and Cain International. Located at 830 SE First Ave., 830 Brickell is slated for completion in early 2022. The property is situated next to a MetroMover station, as well as Brickell City Centre, a $1.5 billion, 506,000-square-foot mixed-use development.

August 12, 2019

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