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NEW YORK CITY — Anheuser-Busch InBev (AB InBev) has reached an agreement to sell its theme park division to The Blackstone Group for up to $2.7 billion. Under the agreement, Blackstone will purchase Busch Entertainment Corp., a wholly owned subsidiary of AB InBev and the second largest theme park operator in the United States. The subsidiary operates 10 parks, including three SeaWorld parks in Orlando, Fla., San Antonio and San Diego; two Busch Gardens parks in Tampa, Fla., and Williamsburg, Va.; and other entertainment attractions in Orlando, Tampa, Williamsburg and Langhorne, Pa. The purchase price is comprised of a $2.3 billion cash payment at the time of closing and the right for AB InBev to participate in Blackstone's return on its initial investment, which is capped at $400 million. Acquisition financing is comprised of senior secured credit facilities that will be provided by Bank of America Merrill Lynch, Barclays Capital, Deutsche Bank Securities, Goldman Sachs Loan Partners and Mizuho Corporate Bank; as well as mezzanine financing that will be provided by Goldman Sachs Mezzanine Partners and funds managed by GSO Capital Partners. In a statement, Carlos Brito, CEO of AB InBev, said, “Busch Entertainment Corp. (BEC) is a high-performing asset …

NEW YORK CITY — New York City-based affordable housing lender Community Preservation Corp. (CPC) has launched a new public/private partnership that will provide $1 billion to multifamily building owners in New York City for energy-efficient building renovations. The CPC Green Initiative will be incorporated into the lender's existing multifamily loan program. It will identify energy-efficient improvements that can be made, add the improvements to other upgrades planned for the property and provide the financing to make the measures affordable. The CPC also plans to monitor the renovations on a long-term basis to measure effectiveness. For each project, CPC expects to provide a total of $80,000 to $100,000 per apartment, including $5,000 to $50,000 in energy retrofits and other improvements. The program intends to target low- and moderate-income multifamily buildings, including cooperatives. The private financing portion of the initiative will also include a variety of subsidy programs. Many green retrofitting funding programs already exist, but the CPC Green Initiative will combine the programs as a single resource. Of the $1 billion set aside for the program, $500 million will be provided by Freddie Mac and $300 million will come from the New York State and New York City public employee pension …

FREDERICK, MD. — SAIC-Frederick Inc. will soon start work on the 330,000-square-foot Advanced Technology Research Facility for the National Cancer Institute. A groundbreaking for the project was held last year, but construction was unable to move forward due to the recession. The $200 million development, which will be comprised of office and laboratory space, will span 62 acres at the 177-acre Riverside Research Park in Frederick. An additional 570,000 square feet is planned for future expansion. The Cancer Institute’s facility is slated for a mid-2011 delivery. Pete Briskman of Jones Lang LaSalle’s Bethesda, Md., office helped represent the institute in securing the space. He says the center’s development is a culmination of years of work and will be another asset in the fight against a deadly disease. “It’s about curing cancer and doing it sooner than later,” he says. When complete, the facility will be the only Federally Funded Research and Development Center in the country dedicated to biomedical research and development, according to a news release. But public financing was not enough to get the facility built. To make the project a reality, The Matan Companies and Federal Capital Partners worked to arrange a $52 million construction loan, which …

LOS ANGELES — Multi-Housing Capital Advisors has arranged the sale of The Gallery at NoHo Commons, a luxury apartment community located in Los Angeles, for $96 million in one of the largest single-asset multifamily sales in Southern California this year. The 438-unit, Class A community is located in North Hollywood at the intersection of Chandler Boulevard and Fair Avenue. It features 286 one-bedroom units and 152 two-bedroom units. Amenities include a clubhouse with a recreation room, a bar area and a big-screen television. Other amenities include a sound-proof recording studio, business offices, a cyber cafe, a fitness center with an attached dance studio, and a resort-style pool and spa. The community also features two five-story parking garages with a total of 778 spaces. The project was originally developed as a public-private partnership that involved the City of Los Angeles' Community Redevelopment Agency. The property has an agreement in which 115 of the units are operated as affordable housing. Curtis Palmer, Herb Chase III, Peter Sherman and Brad Pennington of Multi-Housing Capital Advisors represented the seller, SF NO HO LLC, a subsidiary of Fairfield Residential. The buyer was Dallas-based Behringer Harvard Multifamily REIT I. According to Palmer, a principal with Multi-Housing …

DULUTH, GA. — An affiliate of Norfolk, Va.-based Harbor Group International (HGI) has acquired Tree Summit Apartments from an affiliate of Wilwat Properties for $33.9 million. The 660-unit community is located at 3475 Pleasant Hill Rd. in the Atlanta suburb of Duluth. It contains one-, two- and three-bedroom units with an average size of 1,108 square feet. Amenities include a clubhouse, two swimming pools, a hot tub, four lighted tennis courts, a fitness center, two laundry facilities, a playground and a boat/RV parking area. Some of the units also feature a fireplace, a vaulted ceiling, a basement den and an attached two-car garage. Occupancy was 86 percent at the time of closing. HGI plans to invest approximately $2.3 million into the property for exterior and interior upgrades. The community will also be renamed Overlook at Berkeley Lake. “Harbor Group has an extensive investment and operating presence in Atlanta,” says T. Richard Litton, Jr., president of HGI, in a statement. “The acquisition of Overlook at Berkeley Lake provides an opportunity to capitalize on our market expertise at attractive pricing.” HGI and its affiliates currently own four multifamily properties in Atlanta totaling 1,432 units and two downtown office towers. — Coleman Wood

MCCANDLESS TOWNSHIP, PA. — Yesterday saw the groundbreaking for one of the largest mixed-use projects in Pittsburgh in recent memory. McCandless Crossing will be located on approximately 130 acres on McKnight Road in the northern Pittsburgh suburb of McCandless Township. “[The site] is the last remaining parcel of land on McKnight Road, which is the major retail corridor in the northern suburbs of Pittsburgh,” says Kevin Dougherty, president of Selma, N.C.-based AdVenture Development, the developer of McCandless Crossing. This location along a prime retail corridor means that the project will contain plenty of retail space — approximately 500,000 square feet based on current plans. The retail space will be joined by 200,000 square feet of office space, two hotels with a total of more than 200 rooms and 300 to 500 residential units. But retail is not the only draw of this corridor. McCandless Crossing is situated adjacent to UPMC Passavant Hospital, which is undergoing a $190 million expansion. Other nearby draws include LaRoche College and the approximately 400,000-square-foot Pittsburgh Office & Research Park. The project will be constructed in phases over the next 3 to 5 years. Some tenants have already signed at the center, including Lowe's Home Improvement …

OVERLAND PARK, KAN. — Black & Veatch is following up on the $60 million purchase of its new Overland Park headquarters by announcing plans to renovate the new facility. The highlight of the improvements is that the engineering and construction firm will pursue LEED-Gold certification for the project. Building upgrades include new HVAC and energy management systems, a rainwater collection system, a solar courtyard and canopy, a bio garden and an innovation pavilion. Black & Veatch also has negotiated improved zoning density for the property, which will allow the 600,000-square-foot building to be expanded by up to 250,000 square feet. Black & Veatch first acquired the building, which is located at 11401 Lamar Ave., in July in a deal that was brokered by Studley. The company had been leasing the building from Equity Group Investments for the previous 12 years. Black & Veatch had considered building a new campus during its search for a new headquarters, but decided that purchasing and renovating the existing building would be the most environmentally sound option. In a statement that was released at the time of the purchase, Howard Withey, chief administrative officer for Black & Veatch, said, “We are delighted to be able …

GREENVILLE, S.C. — Healthcare Trust of America (HTA) has purchased a 16-property medical office portfolio from Greenville Hospital System (GHS) for $162.82 million. The portfolio comprises approximately 856,000 square feet of space located on three Greenville-area hospital campuses: Greenville Memorial Hospital, Patewood Memorial Hospital and Greer Memorial Hospital. GHS, the largest healthcare provider in the Greenville area, was looking to free up liquidity with the sale while maintaining its presence in the market, so the company will be leasing back approximately 84 percent of the portfolio under a long-term agreement. HTA was selected in a competitive bidding process. “This transaction was the best way to enter the South Carolina and Greenille markets, and we look forward to continuing to grow with the Greenville Hospital System as they expand,” says Mark Engstrom, chief investment officer with HTA. HTA currently controls a portfolio of approximately 6.3 million square feet in 19 states. The company is active in the Southeast, with properties in Florida, Georgia, South Carolina and Tennessee. “We seek out opportunities like this and will continue to look for opportunities to partner with strong hospital systems [like GHS],” Engstrom says. — Coleman Wood

NEW YORK CITY — In a year that has already seen much in the way of exciting news for the Brooklyn Navy Yard, funding has been secured for two new projects. The New York state senate has provided $15 million over a 3-year period for the Green Manufacturing Center and the redevelopment of the former Marine Commandant’s House. Three connected, former World War II machine shops will be renovated to create the 220,000-square-foot Green Manufacturing Center. The $30 million industrial project, which will begin construction in spring 2010, will be pursuing LEED-Silver certification with several sustainable features, including New York’s largest solar panel installation, which will be placed on the building’s roof. Construction is expected to take 18 months for the multi-tenant structure. The 150-year old Marine Commandant’s House, also known as Building 92, will be redeveloped as an exhibition and visitor’s center. The 27,000-square-foot building will feature educational and community rooms, a rooftop café, a special events space and a landscaped courtyard. The project is expected to cost $19.5 million and will be built to LEED-Platinum standards. It will begin construction this month and should be completed by mid-2011. On top of the $15 million provided by the senate, …

TAMPA, FLA. — Atlanta-based IDI has signed a lease for 229,308 square feet of industrial space at Madison Business Center, the company’s approximately 1 million-square-foot industrial park located in Tampa. The lease was signed by Ceva Logistics, a third-party logistics company. Verizon Wireless, one of Ceva’s clients, will be occupying the space, which is located within Building A, and will use it as a distribution center. Rick Markowitz of the Tampa Bay office of CB Richard Ellis and Debra Royal of the firm’s Jacksonville, Fla., office represented Ceva in lease negotiations. Larry Dinner of IDI’s Florida office provided in-house representation for IDI. In a statement, Markowitz said, “Ceva Logistics is an international leader in logistics services for high-quality tenants like Verizon Wireless, and we are excited to begin our first working relationship with them in Florida. Madison Business Center is a strong representation of the type of Class A space IDI offers across the country and throughout the Florida marketplace.” Madison Business Center comprises five buildings and is located on U.S. Highway 41. Approximately 155,000 square feet remains for lease at Building A. — Coleman Wood