Southeast

Cushman & Wakefield Arranges Sale of 350-Unit Student Housing Community Near University of South Carolina

by Alex Tostado April 18, 2019

COLUMBIA, S.C. — Cushman & Wakefield has arranged the sale of The Southern @ 1051, a 350-unit student housing community located near the University of South Carolina in Columbia. The property offers one-, two-, three- and four-bedroom units. Community amenities include a swimming pool, clubhouse, package service, picnic and barbecue area, business center, fitness center and basketball and volleyball courts. Travis Prince, Victoria Marks, Jordan McCarley and Paul Marley of Cushman & Wakefield arranged the disposition on behalf of the seller, an undisclosed CMBS trust. Ernet Capital Management acquired the property for an undisclosed amount.

April 18, 2019

Development Florida Retail Southeast

Hutton Debuts 190,000 SF Grocery-Anchored Shopping Center in Metro Tampa

by Alex Tostado April 17, 2019

WESLEY CHAPEL, FLA. — Hutton, a real estate development and investment firm based in Chattanooga, has opened Cypress Creek Town Shopping Center, a 190,000-square-foot shopping center located in Wesley Chapel, 20 miles north of downtown Tampa. Earth Fare anchors the center, which is the latest phase of Cypress Creek Town Center. Other tenants in the new shopping center include Burlington, Hobby Lobby, Five Below, Dollar Tree and HomeGoods. Remaining tenants are scheduled to open in late spring. Chattanooga, Tenn.-based Hutton has completed three previous developments at Cypress Creek Town Center, including a 26,000-square-foot, multi-tenant development leased to retailers such as Mellow Mushroom and Men’s Wearhouse; an adjacent 8,000-square-foot Chuy’s; and a 16,000-square-foot multi-tenant building that includes Blaze Pizza, Chipotle Mexican Grill, Verizon Wireless and Sleep Number.

April 17, 2019

Florida Leasing Activity Restaurant Retail Southeast

Seafood Restaurant, Entertainment Concept to Join Lineup at Celebration Pointe in Gainesville

by Alex Tostado April 17, 2019

GAINESVILLE, FLA. — Celebration Pointe developers have signed a lease to bring in The Keys, a fresh seafood restaurant and entertainment venue. The Keys is locally owned by Tony Espetia, a real estate professional with Coldwell Banker M. M. Parrish Realtors and former owner of Rum Runners and Fat Tuesday in Gainesville; Brad Heron, the current owner of Rockeys Dueling Piano Bar; and Diego Ibanez, who has more than 25 years of restaurant experience and is the co-owner of Emiliano’s Café, a longtime family-owned restaurant that started as a bakery in the early 1980s. The Keys will serve freshly caught seafood and feature dueling pianos. The Keys, which has a double meaning playing off both the Florida Keys and piano keys, is expected to open this summer. Celebration Pointe is a 160-acre mixed-use development that will span more than 1 million square feet and will include office and retail space, residential units and a mix of experiential and entertainment venues.

April 17, 2019

Acquisitions Georgia Multifamily Southeast

Wilson Investment, Liquid Capital Acquire 646-Unit Apartment Community in Metro Atlanta

by Alex Tostado April 17, 2019

DORAVILLE, GA — Wilson Investment Properties and Liquid Capital Real Estate have acquired Forest Cove, a 646-unit apartment complex in Doraville. The joint venture plans to upgrade unit interiors, repaint the building exteriors and enhance existing amenities, which include a dog park, fitness center, swimming pool, playground, soccer field and an outdoor fire pit. The property offers one-, two- and three-bedroom floor plans and is situated at 3497 Meadowglenn Village Lane, four miles from the Doraville MARTA Station. The seller and sales price were not disclosed.

April 17, 2019

Acquisitions Georgia Office Southeast

TerraCap Management Purchases 122,700 SF Office Building in Metro Atlanta

by Alex Tostado April 17, 2019

DECATUR, GA. — TerraCap Management has acquired 160 Clairemont, a 122,700-square-foot office building in Decatur. The property is situated six miles east of downtown Atlanta and offers amenities such as a fitness center, onsite café and a conference center. Samir Idris and Davide Meline of Cushman & Wakefield represented the undisclosed seller in the transaction. Brian Linnihan and Richard Henry of Cushman & Wakefield worked on behalf of the buyer to arrange acquisition financing through Delta Community Credit Union. The sales price was not disclosed.

April 17, 2019

Development Multifamily North Carolina Seniors Housing Southeast

Woda Cooper Opens 50-Unit Affordable Seniors Housing Community Near Raleigh

by Alex Tostado April 17, 2019

ZEBULON, N.C. — Woda Cooper Cos. has cut the ribbon on Shepard Greene, a 50-unit affordable seniors housing community in Zebulon, approximately 20 miles east of Raleigh. The three-story community features age-in-place features and energy-efficient apartments for residents aged 55 years and older who earn 60 percent or less of the area median income. All units have emergency alert systems and six units are available with features for those with disabilities, such as roll-in showers. Two units are designed for those with hearing/sight impairments. Shepard Greene is located a half-mile from downtown Zebulon. An onsite manager oversees leasing and property maintenance and is available to assist residents in accessing transportation, Meals On Wheels and other resources and activities. Shepard Greene was financed in part through housing tax credits allocated by the North Carolina Housing Finance Agency. Bank of America Merrill Lynch was the equity investor for the tax credits and also provided construction financing. Bellwether Enterprise also facilitated a USDA Rural Development 538 loan.

April 17, 2019

Acquisitions Georgia Industrial Iowa Southeast

Americold to Acquire Cloverleaf for $1.24B, Including 22 Cold Storage Facilities

by Alex Tostado April 16, 2019

ATLANTA AND SIOUX CITY, IOWA — Americold Realty Trust has entered into a definitive agreement to acquire Cloverleaf Cold Storage from the company’s management and an investor group led by private equity funds managed by Blackstone. The purchase price was $1.24 billion. Atlanta-based Americold will acquire 22 cold storage facilities in nine states in the Midwest and Southeast, 21 of which are owned by Cloverleaf and one is managed by the company, totaling 5.2 million refrigerated square feet. Sioux City, Iowa-based Cloverleaf is the fifth largest cold storage provider in the United States. The company acquired competitor Zero Mountain in January. Bank of America Merrill Lynch and Goldman Sachs & Co. LLC are Americold’s financial advisors in the transaction, and King & Spalding LLP is its legal advisor. Wells Fargo Securities and Deutsche Bank Securities Inc. are Cloverleaf and Blackstone’s financial advisors, and Kirkland & Ellis LLP is their legal advisor.

April 16, 2019

Acquisitions Georgia Office Southeast

Columbia Property Trust Sells Office Campus in Atlanta for $227.5M

by Alex Tostado April 16, 2019

ATLANTA — Columbia Property Trust has sold One and Three Glenlake Parkway, a 711,000-square-foot office campus in Atlanta’s Central Perimeter submarket, for $227.5 million. Columbia recently completed renovations to the campus, which led to the leasing of 460,000 square feet since 2017. Columbia purchased One and Three Glenlake in 2003 and 2008, respectively. The campus is situated 15 miles north of downtown Atlanta. The buyer was an affiliate of Starwood Capital.

April 16, 2019

Development Office Southeast Tennessee

GBT Realty Unveils Plans for Downtown Nashville Office Building

by Alex Tostado April 16, 2019

NASHVILLE, TENN. — GBT Realty has unveiled plans for 1221 Broadway, an office building in downtown Nashville. Brentwood, Tenn.-based GBT completed the demolition of the former Firestone at the site. The new Class A office building will range from 365,000 to 500,000 square feet depending on the needs of potential tenants. The building will rise between 23 and 27 stories. The asset will also include 7,000 square feet of ground-level retail space, a 10th floor amenity deck and café, and parking on the property. The design team includes architect Gresham Smith & Partners and general contractor Brasfield & Gorrie. Taylor Hillenmeyer, Janelle Gallagher, Frank Thomasson and Bryan Fort of CBRE will market handle leasing efforts for the property. A timeline for construction was not disclosed.

April 16, 2019

Acquisitions Alabama Florida Georgia Office Southeast

CBRE Arranges $90M Sale of 22 Medical Buildings in Southeast, Chicago

by Alex Tostado April 16, 2019

LOS ANGELES — CBRE has arranged the $90 million sale of 22 medical buildings in Florida, Georgia, Alabama and Illinois. The sale includes the Dermatology Solutions Group portfolio, an eight-building portfolio totaling 51,505 square feet in Alabama and Florida. The portfolio is fully occupied by Dermatology Solutions Group, which signed 10-year leases at each site at closing. Physician Group sold the properties to a public single-tenant REIT. A 47,936-square-foot building situated at 2061 Peachtree St. in Atlanta’s Buckhead district was included in the sale as well. The asset was built in 2013 and fully occupied by tenants including Georgia Hand, Shoulder & Elbow (GHSE), the largest hand and upper extremity practice in Georgia. Physician Group sold the building to a public healthcare REIT. The other 13 buildings total 197,385 square feet and are located in Chicago. The undisclosed developer sold the assets to Institutional Fund.

April 16, 2019

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