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

Acquisitions Alabama Multifamily Southeast Student Housing

CBRE Brokers Sale of 900-Bed Student Housing Community Near Auburn University

by Alex Tostado October 25, 2019

AUBURN, ALA. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed student housing community located near Auburn University. The property comprises 13 three-story buildings offering two-, three- and four-bedroom units. Shared amenities include a 24-hour fitness center, swimming pools, heated spa, game room, picnic areas, sand volleyball court, computer lounge, clubroom, private study areas and a lighted basketball court. BCEG International Investment-US purchased the community for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russ Oldham of CBRE arranged the transaction on behalf of the undisclosed seller. Ben Roelke and Ian Walker of CBRE originated a Freddie Mac Green Program acquisition loan on behalf of the buyer. The 10-year loan features a fixed 3.66 percent interest rate and five years of interest-only payments.

October 25, 2019

Acquisitions Georgia Retail Southeast

JLL Negotiates Portfolio Sale of Publix-Anchored Shopping Centers in Metro Atlanta

by Alex Tostado October 25, 2019

ACWORTH AND LITHONIA, GA. — JLL has negotiated the sale of two Publix-anchored shopping centers near Atlanta: Publix at Acworth and Centre at Panola in Lithonia. Publix at Acworth is located at 3507 Baker Road in Acworth, 30 miles northwest of downtown Atlanta. The 69,628-square-foot center was 98 percent leased at the time of sale to tenants including CVS/pharmacy, WellStar, Domino’s Pizza, Coast Dental Services, Supercuts and Cricket Wireless. Centre at Panola is located at 3007 Panola Road, 15 miles east of downtown Atlanta. Centre at Panola was fully leased at the time of sale to tenants including Marco’s Pizza, Let’s Talk Therapy, Cricket Wireless and Benchmark Physical Therapy. Jim Hamilton, Mike Allison and Brad Buchanan of JLL represented the seller, an undisclosed publicly traded REIT, in the sale. Rothenberg-Rosenfield Inc. acquired both properties for an undisclosed price.

October 25, 2019

Development Office Southeast Tennessee

GBT Realty Acquires Final Piece of Land for 23-Story Office Tower in Downtown Nashville

by Alex Tostado October 25, 2019

NASHVILLE, TENN. — GBT Realty has acquired the remaining 0.2-acre plot for its planned One22One Broadway, a 23-story, 365,000-square-foot office building in downtown Nashville. GBT Realty bought the land for $3 million, bringing the total development site to 0.8 acres. The Brentwood, Tenn.-based company revealed plans for One22One Broadway in April. The first two floors of the building will include 15,000 square feet of restaurant and retail space. The 11th floor will offer an amenity deck and café. Gresham Smith & Partners is the project’s architect, and Brasfield & Gorrie is the general contractor. Taylor Hillenmeyer, Janelle Gallagher, Frank Thomasson and Byran Fort of CBRE are marketing One22One to prospective office tenants. A timeline for completion was not disclosed. This announcement was originally published on Thursday, Oct. 24 with the incorrect headline “GBT Realty Breaks Ground on 23-Story Office Tower in Downtown Nashville.”

October 25, 2019

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