Southeast

Castle Lanterra Sells Multifamily Property in Tuscaloosa for $20.7M

by Alex Tostado February 20, 2019

TUSCALOOSA, FLA. — Castle Lanterra Properties has sold Heights at Skyland, a 304-unit apartment property in Tuscaloosa, for $20.7 million to an undisclosed buyer. The property was developed in two phases in 1975 and 1991. The asset offers one- and two-bedroom floor plans and amenities such as a dog park, breakfast bar, coffee bar, picnic area, fitness center, swimming pool, playground, clubhouse, tennis court and a volleyball court. Heights at Skyland is situated about four miles south of the University of Alabama and about six miles south of downtown Tuscaloosa.

February 20, 2019

Georgia Leasing Activity Office Southeast

Emory Healthcare Signs 28,000 SF Office Lease in Midtown Atlanta

by Alex Tostado February 20, 2019

ATLANTA — Emory Healthcare has signed a 28,000-square-foot lease at Baltimore Block across from Emory University Hospital Midtown in Midtown Atlanta. Emory Healthcare will move its finance and materials management operation to the newly leased space. Baltimore Block is a recently renovated historic office development that was originally built in 1885. Gamma Real Estate and Meltzer Properties acquired the asset in 2015 and completed a $4.5 million renovation. The 104,000-square-foot building is now 91 percent leased. Claire Ross and Mike Werner of JLL represented the landlord, in the lease transaction. Bruce Propst of Cushman & Wakefield represented the tenant.

February 20, 2019

Acquisitions Florida Hospitality Southeast Top Stories

HST Purchases South Beach Hotel for $610M

by John Nelson February 20, 2019

MIAMI BEACH, FLA. — Host Hotels & Resorts Inc. (NYSE: HST) has purchased 1 Hotel South Beach, a 429-room hotel and resort in Miami’s South Beach neighborhood. A partnership between Starwood Capital Group and LeFrak sold the property for $610 million, or a little over $1.4 million per room. Hodges Ward Elliot represented Starwood Capital and LeFrak in the sale. The property features 600 linear feet of ocean frontage and has direct beach access, as well as four pools with elevated decks that provide ocean views. SH Hotels & Resorts, an affiliate of Starwood Capital, will continue to operate and manage the 1.1 million-square-foot property as 1 Hotel South Beach. “We are excited about the opportunity to acquire one of the absolute best luxury hotels in the country and partner with SH Hotels & Resorts as our operator,” says James Risoleo, president and CEO of HST. “1 Hotels is redefining the luxury hotel industry and we could not be more proud to own its flagship hotel. We look forward to being a big part of the brand’s future growth.” Starwood Capital acquired the 1970s-era beachfront hotel in 2012 and executed a $300 million overhaul, including adding 155 condominiums and updating the …

February 20, 2019

Finance Insight Loans Midwest Multifamily Northeast Seniors Housing Southeast Texas Video Western

M&T Realty: Seniors Housing will be a Bright Spot for Lending for Years to Come

by Jaime Lackey February 19, 2019

Seniors housing seemed to rule the roost among attendees at MBA’s CREF 2019. Mark Gould, national production manager at M&T Realty Capital Corporation, thinks he knows why. The obvious answer would be the aging Boomer population, which will continue to require additional services for some time. However, Gould believes it’s more than demographics. He asserts that a tangible evolution has taken place among seniors housing operators that has made these dwellings more attractive to the elderly and their children. As demand shifts, opportunity abounds. Gould believes construction and permanent financing will remain active as these operators continue to perfect their communities. Watch the video for more insights on seniors housing finance from Gould.

February 19, 2019

Acquisitions Florida Office Southeast

Cushman & Wakefield Arranges $29.2M Sale of Office Park in Fort Lauderdale

by Alex Tostado February 19, 2019

FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged the $29.2 million sale of Lakeshore Business Center, a four-building office park in Fort Lauderdale. The business center is located at 5100 and 5200 NW 33rd Ave. and 3201-3125 W. Commercial Blvd., about seven miles north of downtown Fort Lauderdale. Mike Davis, Scott O’Donnell, Dominic Montazemi, Greg Miller, Rick Brugge and Michael Lerner of Cushman & Wakefield represented the seller, Morning Calm Management, in the transaction. Miami-based YMP Real Estate purchased the asset, which was 79 percent leased at the time of the sale.

February 19, 2019

Leasing Activity Office Southeast Virginia

Booz Allen Hamilton to Expand Presence in Metro Washington, D.C.

by Alex Tostado February 19, 2019

ARLINGTON, VA. — Booz Allen Hamilton, a Fortune 500 firm that specializes in providing consulting, analytics, engineering and digital solutions and employs 25,000 people in 80 locations worldwide, will expand its presence in Arlington’s National Landing submarket. In September, Booz Allen Hamilton will occupy 84,000 square feet of office space at 1550 Crystal Drive, a 480,572-square-foot building owned by JBG Smith Properties. The building is now 92 percent leased. The asset is situated about four miles south of downtown Washington, D.C.

February 19, 2019

Leasing Activity Office Southeast Virginia

NRP Group Breaks Ground on 272-Unit Apartment Community Near Washington, D.C.

by Alex Tostado February 19, 2019

CLARKSBURG, MD. — The NRP Group has broken ground on The Axiom at Cabin Branch, a 272-unit apartment complex in Clarksburg. The apartment complex will offer one-, two- and three-bedroom floor plans and community amenities such as a swimming pool, pool deck, fire pits, grills, fitness center, dog park, bike storage and package reception services. The asset is located about 30 miles north of Washington, D.C. The NRP Group is developing Axiom with equity partner Parse Capital. First National Bank of Pennsylvania is providing construction financing. A timeline for completion was not provided.

February 19, 2019

Leasing Activity North Carolina Retail Southeast

CBRE | Raleigh Negotiates Three New Tenant Leases at Shopping Center in Raleigh

by Alex Tostado February 19, 2019

RALEIGH, N.C. — CBRE | Raleigh has signed Petco, Ulta Beauty and Five Below to leases at Pleasant Valley Promenade in Raleigh. Petco signed a 13,600-square-foot lease, Ulta signed a 10,718-square-foot lease and Five Below signed an 8,474-square-foot lease. The new tenants are expected to open this year and will join Dick’s Sporting Goods, Ross Dress for Less, Marshalls, Bed Bath & Beyond and Fitness Connection. Pleasant Valley Promenade offers more than 362,000 square feet of retail space and is situated about seven miles northwest of downtown Raleigh. Cristi Greene and Reagan Crabtree of CBRE | Raleigh represented the landlord, Kimco Realty, in the transactions.

February 19, 2019

Leasing Activity Retail Southeast Tennessee

PEBB Enterprises Announces New Retail Tenants at Mixed-Use Center in Metro Memphis

by Alex Tostado February 19, 2019

GERMANTOWN, TENN. — PEBB Enterprises has signed Ulta Beauty and Verizon Wireless to leases at Germantown Village Square, a retail and office complex, in Memphis. With the additions, the shopping center is now 97 percent leased, with one 4,000-square-foot space vacant. The upstairs office space is 90 percent leased, with 2,700-square-foot and 3,800-square-foot spaces available for lease. The center is located about 21 miles east of downtown Memphis.

February 19, 2019

Development Georgia Industrial Southeast

FCL Builders Delivers 556,000 SF Industrial Facility Near Augusta for Golf Cart Manufacturer

by Alex Tostado February 18, 2019

APPLING, GA. — FCL Builders has delivered a 556,000-square-foot industrial building in Appling for Club Car. Prologis is the developer of the build-to-suit for Club Car, which manufactures golf carts for golf courses and individuals. The new warehouse will include 25,000 square feet of office space, 3,500 golf cart stalls and 36-foot clear height ceilings. The building is situated about 22 miles west of downtown Augusta. Prologis has chosen FCL to deliver other build-to-suit projects throughout the eastern half of the United States in the past, including projects for Sephora, Procter & Gamble, Kellogg’s and Kraft Foods.

February 18, 2019

Newer Posts

Older Posts