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WHITE MARSH, MD. — CB Richard Ellis Investors, a Delaware LLC, has purchased the 544-unit Cambridge Court Apartments, a complex consisting of garden and mid-rise properties, from an undisclosed institutional investor for $65 million. The complex is located at 386 Attenborough Dr. in White Marsh. Cambridge Court lies 20 miles from Aberdeen Proving Ground, a U.S. Army property undergoing reorganization under the Base Realignment and Closure campaign. Cambridge Court was built in 1999 and 2002, making it the newest apartment complex in the Baltimore County North 1-95 corridor, according to CB Richard Ellis. Sale of the property is one of the first substantive apartment sales in the Mid-Atlantic region this year. The complex is currently 93 percent occupied. Bill Roohan, Mike Muldowney, Mike Rudolph and Andy Boyer of CB Richard Ellis’ Multi-Housing team in Washington, D.C., represented the seller. Mauray Zanoff and Joe Donato of the firm’s Capital Markets Mid-Atlantic Debt & Equity Group secured $38.6 million in permanent financing for the purchase. The 5-year Fannie Mae loan carries an interest rate of 4.92 percent. — Jon Ross

DESTINY, FLA. — Dominion Development Partners, an affiliate of Richmond, Va.-based The Lingerfelt Companies, has partnered with the city of Destiny to develop the Alternative Energy Industrial Park at Destiny. As the America’s first eco-sustainable city, Destiny is actively seeking eco-friendly developers and projects to highlight the city’s sustainable environment and lifestyle. Companies looking to develop and manufacture new, clean technologies will benefit from the synergies of co-location to reduce start-up and operating costs. “Our interest is to build the first eco-sustainable city and to do that, we have to pursue new green industries, like green research and development and manufacturing opportunities,” explains Randy Johnson, chief operating officer of Destiny. “Dominion has a terrific record, and understands our market needs for renewable electricity and recycled water.” The initial 500-acre phase of the project will include a Research and Development Campus, which will house a Technology Incubator, a Distribution Center, and an Academic Village and Training Center. The partnership has eight planned phases for the build-to-suit development, which when complete could accommodate approximately 5 million square feet of industrial, office and commercial space. The future phases will feature energy generation assets to power the city, and possibly ethanol and biodiesel processing, …

WARRENSBURG, MO. — The University of Central Missouri (UCM) is holding a ceremony today to kick off its $36.1 million, 2-year project to increase energy efficiency on campus. Projects will be completed in at least 26 different campus buildings, most of them academic facilities. Improvements will include new energy-efficient air and water distribution systems, the installation of energy-efficient lighting, window and roof replacements on various buildings, new building automation systems, and geothermal well and piping installation. All of the new projects are being constructed to meet LEED-Silver standards. This decision was made as a way to affirm the university’s commitment to sustainable construction. University president Aaron Podolefsky was one of approximately 300 college presidents to sign the American College & University Presidents Climate Commitment in 2007, in which these academic institutions agreed to reduce their carbon footprints and promote sustainability. “[This] initiative brings us all together as stewards of the resources we have,” Podolefsky said. “It’s an exciting time for UCM as we begin work to improve the quality of the environment for our students, faculty and staff.” In addition to these new projects, the university is already working in two additional projects with sustainability in mind. Renovations are under …

CHARLOTTE, N.C. — Charlotte-based Hendrick Construction has completed the 80,000-square-foot second phase of the 400,000-square-foot Valerie C. Woodward Office Center. The facility, which was constructed at the intersection of Freedom Drive and Interstate 85 in Charlotte for Mecklenburg County Real Estate Services, currently houses more than 400 county employees in 180,000 square feet of space. The workers are from the social services, real estate services and the information services and technology departments. Plans for the third and final phase have not been finalized. The property started life in 1964 as the 330,000-square-foot Freedom Mall. In 2004, the county issued a policy requiring that all construction projects costing more than $2 million obtain Silver LEED certification. Two years later, Hendrick razed the mall and started on the office property’s $12 million first phase. An underground irrigation system, on-site rain gardens and eco-friendly paints are just some of the environmentally friendly features of the development. Additionally, the use of recyclable construction materials that were manufactured locally was a big part of the project. Charlotte-based Little Diversified Architecture Consulting provided design services for the property. “We’re proud to be part of this ambitious green-building project,” says Hendrick’s Bill Stewart in a prepared statement. …

BOSTON — Boston Properties has secured $215 million in construction financing for its Russia Wharf mixed-use development, located along the Boston waterfront. Also known as 280 Congress Street, Russia Wharf is a planned 850,000-square-foot project that will feature a 31-story, Class A office tower. The approximately 550,000-square-foot building has already secured its anchor tenant, with Wellington Management Co. signing a lease for 450,000 square feet. Other uses at the project include 30,000 square feet of retail and public space at the base of the office tower, as well as a 300,000-square-foot residential component in the historic Russia Building. Finally, a 650-space, below-grade parking structure will be built. The project fronts the new Rose Kennedy Greenway, as well as Boston Harbor. Boston Properties also will be applying for LEED-Gold certification for the project. Construction financing for Russia Wharf carries a 5-year term with a floating interest rate that equates to LIBOR plus 3 percent per annum. The loan was provided by a syndicate of commercial banks. Russia Wharf is currently under construction, and is slated for delivery in the first quarter of 2011. — Coleman Wood

ANAHEIM, CALIF. — Jamboree Housing Corp. and H.O.M.E.S. Inc. (Helping Our Mentally Ill Experience Success) have developed Diamond Apartment Homes in Anaheim. Located at 1310 W. Diamond St., the green multifamily development will provide housing and mental health supportive services for previously homeless individuals and families in Orange County. The three-story building offers 15 one-bedroom units and 10 two-bedroom units to tenants that earn 30 percent of the area median income. The fully furnished units feature Energy Star appliances, window and floor coverings, ample storage closets and private outdoor space. Additionally, the property features a 2,500-square-foot resident services center, which features a teaching kitchen, a multi-purpose room and a computer lab, as well as case management offices. “Diamond Apartment Homes started when the City of Anaheim issued a Request for Proposal for several affordable housing sites,” says Laura Archuleta, president of Jamboree Housing Corp. “Jamboree responded and was awarded the site. The City was looking for affordable housing for families. After evaluating the site, the community needs and the funding options, we jointly decided to build a project to house those families where at least one member has a mental illness and has previously been homeless.” Designed by KTGY Group …

NEW YORK CITY — The New York City Housing Authority (NYCHA) has received $423 million in stimulus funding for renovations and improvements to 70 public housing projects located throughout the five boroughs. The funds were secured as a result of the American Recovery and Reinvestment Act of 2009. “This money will allow us to immediately begin working on more significant upgrade, rehabilitation and energy conservation projects in housing developments throughout the five boroughs,” said Mayor Michael Bloomberg in a prepared statement. He added, “The stimulus funds will create more than 3,200 jobs, while also improving the apartment buildings of thousands of New Yorkers and affirming our commitment to preserving public housing.” The single largest project to be funded as a result of the stimulus is the $87 million renovation of Whitman-Ingersoll Houses, located in Brooklyn. The two housing communities contain a total of 35 buildings and 3,475 units. The project will include the renovation and reconfiguration of 1,610 apartments in 19 buildings. Kitchens, bathrooms, plumbing and electrical systems will be upgraded; new paint and plaster will be put on the walls; closet and interior doors, as well as floor tiles, will be replaced; and new smoke and carbon monoxide detectors …

PARIS, TENN., AND MANTEO, N.C. — The U.S. Fish and Wildlife Service will soon break ground on two new park visitor centers in the Southeast. The $6.1 million center for the Tennessee National Wildlife Refuge in Paris, Tennessee, and the $6.65 million property in the Alligator River National Wildlife Refuge in Manteo will provide a permanent home for park staff. The buildings are two of the 183 projects slated for the Southeast meant to improve the functionality of fish and wildlife spaces. Funding for the projects, which totals $56.5 million, will be secured through President Obama’s American Recovery and Reinvestment Act. In all, $115 million has been awarded to the U.S. Fish and Wildlife Service for property construction and energy retrofits throughout the country. The proposed updates include reconstruction and repair of buildings, energy efficiency retrofits and deferred maintenance. The projects will affect properties in Alabama, Arkansas, Georgia, Florida, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. “These projects will strengthen our conservation work, enhance the experience of visitors at our national wildlife refuges and fish hatcheries, improve energy efficiency and save money in the future by eliminating thousands of dollars in rental payments for office space,” Sam Hamilton, …

TALLAHASSEE, FLA. — The New York and Miami offices of Holliday Fenoglio Fowler have been engaged to sell the 988,000-square-foot Tallahassee Mall, currently held in receivership. If sold, it will be the third life for Tallahassee Mall. In 1996, Compass Retail brought the center back from near death with an invigorated tenant mix, including then “alternative” tenants like a movie theater, a post office, cable company store and large-format book store. At the time, the center was heralded as a beacon for how older regional malls in second tier markets could reinvigorate their tenant mixes. The center has lost a number of tenants in recent years, including two major anchors in 2008 — Dillard’s and Goody’s — and is currently 61 percent leased. Tallahassee Mall continues to be anchored by Belk, AMC Theatres, Burlington Coat Factory, Ross Dress For Less, Sports Authority and Barnes & Noble. The center is on the market clear of debt and without a formal asking price. HFF managing directors Lynn DeMarco, Brad Peterson and Joe Morningstar have the listing for the receiver. — Randall Shearin

NEW YORK CITY — The Financial Times Building, a 42-story office tower located in Manhattan, New York City, has been sold at auction after one of its creditors foreclosed on the property. Otera Capital Corp., a subsidiary of Canada’s largest pension fund, foreclosed on the property after the building’s owner, Macklowe Properties, defaulted on a $130 million mezzanine loan in January. According to Reuters, Otera was the only party to place a bid at the auction, and it acquired the property with the minimum bid of $100,000. Otera will now assume the property’s $240 million senior mortgage, which is held by German American Capital Corp., an affiliate of Deutsche Bank. A spokesperson for Otera stated that the company took control of the property in order to protect its investment, but it believes that the Financial Times Building is a unique property that is well positioned for the future once the economy turns around. The Financial Times building is located at 1330 Avenue of the Americas. The building most prominently houses the offices of the Financial Times, a business newspaper headquartered in London. It was between 65 and 70 percent occupied at the time of the auction. The current recession has …