Southeast

HFF Negotiates Sale of 308-Unit Multifamily Property in Fayetteville, Arkansas

by Camren Skelton September 25, 2018

FAYETTEVILLE, ARK. — HFF has arranged the sale of Uptown Fayetteville Apartments+Shops, a 308-unit apartment community in Fayetteville. The eight-building property is located at 3959 N. Steele Blvd., roughly four miles north of downtown Fayetteville and the University of Arkansas. Steven Hahn Jr., Roberto Casas and Greg Toro of HFF arranged the transaction on behalf of the seller, Specialized Real Estate Group. In addition, Brian Carlton of HFF arranged a 10-year, fixed-rate acquisition loan through Freddie Mac on behalf of the buyer, Sun Holdings Group. The sales price and financing amount were not disclosed. Constructed in 2017, Uptown Fayetteville Apartments+Shops includes a mix of studio to two-bedroom units averaging 828 square feet, as well as 17,000 square feet of ground-floor retail. The LEED-certified community features a heated saltwater pool, outdoor gathering space, community garden, landscaped roof deck, outdoor grilling area, fitness center and direct access to the Razorback Regional Greenway, a 36-mile, multi-use trail.

September 25, 2018

Conference Coverage Features Georgia Multifamily Seniors Housing Southeast Southeast Feature Archive

Seniors Housing Development Costs Dictate Market Entry, Says InterFace Panel

by Kristin Harlow September 25, 2018

ATLANTA — The pace of seniors housing development has accelerated sharply in recent years. Approximately 396 seniors housing properties came online or opened in the top 100 metro areas in the country from the fourth quarter of 2016 to the fourth quarter of 2017, according to data from Plante Moran Living Forward, a senior living development consulting firm. During the two years prior, about 596 communities opened. What’s more, approximately 65 percent of those newly added properties were from operators that only had two or fewer properties, according to Dana Wollschlager, practice leader for the firm and moderator of the development panel at the 2018 InterFace Seniors Housing Southeast conference. The significant number of developments and new entrants to the seniors housing space were major discussion points for the panel, which took place on Wednesday, Aug. 29 at the Westin Buckhead in Atlanta. The one-day conference drew nearly 520 developers, lenders, investors and operators in the senior living space. Joining Wollschlager on the panel were Richard Ackerman, managing partner of Big Rock Partners; Jeff Arnold, chief operating officer of United Group of Cos.; Blanding Beatty, chief investment officer of Traditions Senior Living; Andy Isakson, managing partner of Isakson Living; and …

September 25, 2018

Georgia Hospitality Loans Southeast

Trinity Street Capital Provides $28.5M Construction Loan for AC Marriott Hotel Near Atlanta Airport

by Camren Skelton September 24, 2018

COLLEGE PARK, GA. — Trinity Street Capital Partners (TSCP) has provided a $28.5 million construction loan for the development of a 222-room AC Marriott hotel in College Park, roughly 10 miles south of downtown Atlanta . The three-year loan featured a 75 percent loan-to-cost ratio, with two, one-year extension options. The hotel will be located along Roosevelt Highway within walking distance to the Georgia International Convention Center and the ATL Skytrain, with a two-minute ride to Hartsfield-Jackson Atlanta International Airport. AC Hotels by Marriott, part of Marriott International, owns and operates a chain of hotels worldwide. Amenities include onsite dining, corporate programs, meeting and conference rooms and facilities for weddings.

September 24, 2018

Acquisitions North Carolina Retail Southeast

Berkeley Capital Secures $15.5M Sale of Grocery-Anchored Shopping Center in Raleigh

by Camren Skelton September 24, 2018

RALEIGH, N.C. — Berkeley Capital Advisors has arranged the $15.5 million sale of Greystone Village, an 85,649-square-foot shopping center in Raleigh. Alex Quarrier, Marc Ozburn and John Lineberger of Berkeley Capital arranged the transaction on behalf of the seller, DNA Partners. Burroughs & Chapin Co. acquired the asset, which was fully leased at the time of sale to tenants such as Food Lion, Sola Coffee, Saw Mill Taproom, Gonza’s Tacos & Tequila and Kai Japanese Restaurant.

September 24, 2018

Acquisitions Florida Office Southeast

Transwestern Arranges $14.7M Sale of Two-Building Flex/Office Portfolio in Tampa Bay Area

by Camren Skelton September 24, 2018

RIVERVIEW, FLA. — Transwestern has arranged the $14.7 million sale of a two-building flex/office portfolio located at 2600 and 2700 Falkenburg Road in the Tampa Bay area of Riverview. John Bell and Walter Byrd of Transwestern arranged the transaction on behalf of the seller, a special servicer, through the Ten-X online auction platform. The name of the buyer was not disclosed. The buildings, which total 134,00 square feet, are situated at the gateway to First Park @ Brandon office park. Transwestern assumed management and leasing of the portfolio when it was 35 percent occupied. Working with Hain Commercial Realty, Transwestern repositioned the buildings and raised occupancy to 86 percent at the time of sale.

September 24, 2018

Acquisitions Alabama Loans Multifamily Southeast

Berkadia Completes $13.9M Sale, Secures $10.5M Financing for Apartment Asset in Northern Alabama

by Camren Skelton September 24, 2018

MUSCLE SHOALS, ALA. — Berkadia has arranged the $13.9 million sale of Arbor Village Apartments, a garden-style multifamily community in Muscle Shoals, a city in northern Alabama. David Oakley and David Wilson of Berkadia arranged the transaction on behalf of the seller, Engel Realty Co. In addition, Josh Finley of Berkadia secured a 10-year, $10.5 million acquisition loan on behalf of the buyer, Arbor Village Apartments LLC. The Fannie Mae loan features a fixed interest rate of 4.91 percent and a 30-amortization schedule. Arbor Village Apartments includes a mix of one- and two-bedroom units and features a fitness center, pool and an outdoor grilling area.

September 24, 2018

Acquisitions Florida Hospitality Southeast

Marcus & Millichap Negotiates $12.6M Sale of Hampton Inn in Tampa

by Camren Skelton September 24, 2018

TAMPA, FLA. — Marcus & Millichap has arranged the $12.6 million sale of the 86-room Hampton Inn Tampa-Airport North. Jonathan Ruprai of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller and procured the buyer, a Canadian investment group. The five-story hotel, located seven miles from Tampa International Airport, features complimentary breakfast, a business center, meeting space, fitness center and a free airport shuttle.

September 24, 2018

Acquisitions Office Southeast Tennessee Top Stories

Unico Properties Acquires 24-Story Office Building in Nashville for $139.5M

by Taylor Williams September 24, 2018

NASHVILLE — Unico Properties LLC, a subsidiary of Unico Investment Group LLC, has acquired One Nashville Place, a 24-story office building located in the state capital’s central business district. The Nashville Business Journal reports that the sale, which includes an adjoining six-story parking garage, fetched a price of $139.5 million. The deal marks Unico’s first commercial investment in Nashville. The seller was not disclosed. The Class A property, which totals 418,824 square feet, is situated near the city’s SoBro neighborhood, as well as the Broadway strip and several new hotels under construction on historic Fourth Avenue. The building was completed in 1985. Amenities at One Nashville Place include a tenant conference center, 24-hour security and a deli. The building’s common areas were recently upgraded as well. Unico plans to further invest in capital improvements to the building. “One Nashville Place is positioned at the nexus of everything we find exciting about this vibrant city,” says Andrew Cox, Unico vice president and regional director. “Nashville’s business-friendly environment and proactive approach to job creation have led to a multi-decade corporate relocation winning streak.” Cushman & Wakefield brokered the acquisition on behalf of the seller, and will manage the property and leasing alongside …

September 24, 2018

Market Reports Maryland Office Southeast Southeast Market Reports

Job Growth, Low Unemployment Keep Office Development Churning in Baltimore

by John Nelson September 24, 2018

Continued job growth, coupled with a 4.3 percent unemployment rate (down from nearly 9 percent in 2010) in the greater Baltimore metropolitan region are the primary reasons giving real estate development companies the conﬁdence to construct speculative commercial ofﬁce buildings in select submarkets throughout central Maryland. After delivering more than 1 million square feet of space in Baltimore City, another 1.6 million is presently rising in the downtown skyline. Industries including ﬁnancial services, medical and healthcare, education, cybersecurity and manufacturing continue to exhibit excellent health, and a location approximately 40 miles from the center of Washington, D.C., remains one of Baltimore’s most valuable assets. Below is a quick scan around the entire metro area: Canton Merritt Properties announced plans earlier this year to construct a 20-story, 200,000-square-foot speculative ofﬁce building along Boston Street. Previously announced, but yet to begin just several streets away, is Corporate Ofﬁce Properties Trust’s $1 billion project containing more than 1 million square feet of commercial ofﬁce and retail space. Since the opening of The Shops at Canton Crossing, a shopping center developed by 28 Walker Associates several years ago, this submarket has experienced a retail renaissance, although the inclusion of new commercial ofﬁce product is …

September 24, 2018

Development Georgia Multifamily Southeast

Alliance Residential Opens 251-Unit Apartment Community in Atlanta’s West Midtown District

by Camren Skelton September 21, 2018

ATLANTA — Phoenix-based Alliance Residential Co. has opened Broadstone Yards, a 251-unit apartment community located at 1084 Howell Mill Road N.W. in Atlanta’s West Midtown district. The community includes a mix of studio, one- and two-bedroom units with stainless steel appliances, gas-powered stoves, French-door refrigerators and built-in wine coolers in select units. Community amenities include coworking space; a conference room with video capability; fitness center with a Peloton bike, climbing rope and peg boards; bike storage with repair station; rooftop lounge with bar; outdoor TV, games and grills; resort-style, saltwater pool; dog spa; and a courtyard with a fire pit and fountain. Monthly rental rates range from $1,485 for a studio to $2,610 for a two-bedroom.

September 21, 2018

Newer Posts

Older Posts