Virginia

CBRE|Richmond Brokers $12M Sale of Walgreens in Virginia Beach

by John Nelson September 28, 2015

VIRGINIA BEACH, VA. — CBRE|Richmond has arranged the $12 million sale of a Walgreens Pharmacy at 645 First Colonial Road in Virginia Beach. Sequoia Frankford Springs purchased the newly constructed property from Old Brandon First Colonial Associates LLC. Built in June 2015, the 14,200-square-foot, freestanding store is located at the intersection of Laskin and First Colonial roads. Craige Pelouze of CBRE|Richmond represented the seller, Old Brandon First Colonial Associates LLC, in the transaction.

September 28, 2015

Loans Multifamily Southeast Virginia

Greystone Provides $6.5M Acquisition Loan for Virginia Beach Apartment Community

by John Nelson September 23, 2015

VIRGINIA BEACH, VA. — Greystone has provided a $6.5 million Fannie Mae DUS loan for the acquisition of Tivoli Apartments, a 140-unit apartment complex in Virginia Beach. The property comprises 12 two-story buildings with a clubhouse, swimming pool, picnic areas, laundry building and storage. Andrew Ellis of Greystone originated the 15-year, fixed-rate loan with a 30-year amortization schedule and one year of interest-only payments. The acquisition loan is the fifth loan that Greystone has provided to the undisclosed borrower.

September 23, 2015

Industrial Loans Southeast Virginia

HFF Arranges $23.6M Acquisition Loan for Industrial Complex in Northern Virginia

by John Nelson September 21, 2015

ALEXANDRIA, VA. — HFF has arranged $23.6 million in acquisition financing for a three-building, 246,145-square-foot industrial complex in Alexandria. The fully leased properties are located within Pickett Industrial Park at 841-929 S. Pickett St. The complex’s tenant roster includes General Services Administration, Commercial Carpets of America, Michael Baker Corp. and Habitat for Humanity of Northern Virginia. Sue Carras, Walter Coker and Brian Crivella of HFF arranged the 10-year, floating-rate loan through SunTrust Bank on behalf of the borrower, an affiliate of JBG Core Venture I LP — a joint venture between CBRE Global Investment Partners and The JBG Cos.

September 21, 2015

Loans Multifamily Southeast Student Housing Virginia

Berkadia Arranges $48M Loan for Student Housing Property Near Virginia Tech

by John Nelson September 18, 2015

BLACKSBURG, VA. — Berkadia has arranged a $48 million loan for The Edge Apartment Homes, a newly constructed student housing property near Virginia Tech in Blacksburg. John M.R. Reed of Berkadia secured the 20-year, fixed-rate loan on behalf of the borrower, Related Properties I LLC, an affiliate of SAS Builders Inc., through a life insurance company. The fully occupied, 252-unit property features two-, three- and four-bedroom apartments and townhomes. Units are fully furnished and contain a washer and dryer. Amenities at the student housing community include high-speed internet, a fitness center, yoga room, student center, heated swimming pool, picnic area and a two-story clubhouse.

September 18, 2015

Loans Office Southeast Virginia

NXT Capital Provides $22.5M to Recapitalize Two Virginia Office Buildings

by John Nelson September 17, 2015

STERLING, VA. — NXT Capital has provided a $22.5 million first mortgage for the recapitalization of Lakeside at Loudoun Tech Phase II & III, two Class A office buildings in Sterling totaling 204,000 square feet. Both properties are located within Loudoun Tech Center, an office park featuring office buildings, restaurants and two hotels.

September 17, 2015

Panera Bread 10059 Jefferson Davis Highway Fredericksburg

Retail Southeast Virginia

Coldwell Banker Commercial Elite Brokers $4.6M Sale of Strip Center in Virginia

by John Nelson September 17, 2015

FREDERICKSBURG, VA. — Coldwell Banker Commercial Elite has brokered the $4.6 million sale of a 13,900-square-foot retail building located at 10059 Jefferson Davis Highway in Fredericksburg. The property was fully leased at the time of sale to tenants such as Panera Bread, Avail Vapor, Blue Pearl Nails & Spa and a barbershop. The property is located within the Cosner’s Corner Shopping Center. Joe Pfahler of Coldwell Banker Commercial Elite represented the seller, G & S Lantier Properties LLC, in the transaction. Geoff Lindsay of Capital Realty Advisors represented the buyer, GPAC Properties LLC.

September 17, 2015

Mixed-Use Southeast Virginia

Rubenstein Partners Acquire Mixed-Use Development in Northern Virginia

by John Nelson September 14, 2015

ALEXANDRIA, VA. — Rubenstein Partners LP has purchased 2461 Eisenhower Avenue, a 360,000-square-foot mixed-use property in Alexandria. The project comprises a 14-story, 335,000-square-foot office tower wrapped by 25,000 square feet of retail and restaurants. The office building is currently gutted and is undergoing a 15-month transformation into a Class A property with a fitness center and conference facilities. Rubenstein Partners also purchased an adjacent retail pad at 2425 Eisenhower Ave. that is zoned for 7,500 square feet. The properties are located across the street from the National Science Foundation’s new 720,000-square-foot headquarters and the Eisenhower Avenue Station Metro within the 56-acre Hoffman Town Center.

September 14, 2015

Loans Retail Southeast Virginia

KeyBank Arranges $20.4M CMBS Loan for Shopping Center in Virginia

by John Nelson September 9, 2015

YORKTOWN, VA. — KeyBank Real Estate Capital has secured a $20.4 million CMBS first mortgage for Village Square at Kiln Creek, a 267,021-square-foot shopping center located in Yorktown. The shopping center is anchored by Kroger. Scott Bois of KeyBank secured the non-recourse loan on behalf of the unnamed borrower.

September 9, 2015

Multifamily Southeast Virginia

Berkadia Brokers $14.6M Sale of Section 8 Community in Hampton Roads Area

by John Nelson September 8, 2015

HAMPTON, VA. — Berkadia has brokered the $14.6 million sale of Langley Square I & II, a Section 8 multifamily property located at 100-130 Doolittle Road in Hampton. Built in 1973, the 254-unit community features one- to three-bedroom units and a swimming pool, baby pool, playground, laundry facilities and on-site parking. The property was 99 percent occupied at the time of sale. The buyer, Langley Apartments LLC, is an established local multifamily operator and plans to renovate the property. The seller was Bethesda, Md.-based Mercury II and III Associates. Alan Meetze and David Hudgins of Berkadia’s Newport News, Va., office brokered the transaction.

September 8, 2015

Loans Multifamily Southeast Virginia

Capital One Closes $14.5M Refinancing of Apartment Community in Metro D.C.

by John Nelson September 8, 2015

ARLINGTON, VA. — Capital One has provided a $14.5 million Fannie Mae loan to refinance Fields of Arlington, a 199-unit, mid-rise affordable housing community in Arlington, a Northern Virginia suburb of Washington, D.C. The apartment community features a clubhouse, barbecue grills and picnic areas and an outdoor swimming pool. The property is almost wholly dedicated to affordable housing, with 79.9 percent of units reserved for tenants whose income is 60 percent or less of the area median income (AMI) and 15.1 percent reserved for tenants whose income is 50 percent or less of AMI. Only 5 percent of the apartments are unrestricted. Sadhvi Subramanian and Michael Antonelli of Capital One Multifamily Finance originated the loan on behalf of the borrower, Kettler, the largest developer of affordable multifamily housing in the area.

September 8, 2015

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