Southeast

Duke Energy to Build 39-Story Office Building in Uptown Charlotte

by Alex Tostado December 11, 2018

CHARLOTTE, N.C. — Duke Energy plans to consolidate its office space in Uptown Charlotte and build a 39-story office building located on the 500 block of South Tryon Street, across from Duke Energy Center. Duke Energy will sell two properties (526 Church St. and 401 S. College St.) and exit its lease at 400 S. Tryon St. The Charlotte-based company will reduce its Charlotte office space from 2 million square feet to 1.5 million square feet. The building, developed by Childress Klein, is expected to take three years to build. Duke Energy provides electricity to 7.6 million retail customers in six states and has $138 billion in assets as of year-end 2017. The company currently employs 29,060 people.

December 11, 2018

Development Georgia Hospitality Southeast

Hilton Opens 42-Story Waldorf Astoria Atlanta Buckhead

by Alex Tostado December 11, 2018

ATLANTA — Hilton Worldwide has opened the Waldorf Astoria Atlanta Buckhead in Atlanta’s Buckhead district. The 42-story hotel is the first for the Waldorf Astoria brand in Atlanta and is situated at the former site of Mandarin Oriental Atlanta. The property features 127 rooms, 10 suites, 47 private residences, a 15,000-square-foot spa and meeting and event space. Designed by Robert A.M. Stern, the Atlanta location joins 30 other Waldorf Astoria hotels worldwide.

December 11, 2018

Florida Hospitality Loans Southeast

Lightstone Secures $73M in Construction Financing for South Beach Hotel

by Alex Tostado December 11, 2018

MIAMI BEACH, FLA. — National real estate investor and developer Lightstone has secured $73 million in financing to build Moxy South Beach, a seven-story, 202-room hotel in Miami Beach. CapitalSource provided a $55 million senior loan and Canyon Partners Real Estate LLC made an $18 million preferred equity investment. Moxy’s lobby will have an outdoor courtyard threading together a restaurant, all-day bar, co-working lounge and a Cuban-themed bodega. The second floor will feature a 72-foot swimming pool, fitness center and an outdoor bar. The rooftop will include a shallow pool and screening area. A timetable for development of the hotel was not provided.

December 11, 2018

Development Florida Multifamily Southeast

Wood Partners Opens 310-Unit Apartment Community in Fort Lauderdale

by Alex Tostado December 11, 2018

FORT LAUDERDALE, FLA. — Wood Partners has opened Bask, an apartment community located near Port Everglades at 1919 S.E. 10th Ave. in Fort Lauderdale. Bask is an eight-story, 310-unit complex featuring one- and two-bedroom floor plans. Amenities include a community demonstration kitchen, office space, fitness room, yoga room, pet spa and outdoor TV lounge.

December 11, 2018

Acquisitions Alabama Civic Southeast

Easterly Government Acquires 83,676 SF Civic Building in Birmingham

by Alex Tostado December 11, 2018

BIRMINGHAM, ALA. — Easterly Government Properties Inc., a real estate investment trust focused on the acquisition, development and management of Class A commercial properties leased to the U.S. government, has acquired the 83,676-square foot U.S. Department of the Treasury facility in Birmingham. Known as TREAS-Birmingham, the property is a three-story, Class A build-to-suit facility that was constructed in 2014. The building is 100 percent leased to the Treasury on an initial 15-year, non-cancelable term expiring in December 2029. The sales price and seller were not disclosed.

December 11, 2018

Acquisitions Florida Multifamily Southeast

Newmark Knight Frank Brokers $45.7M Sale of Apartment Complex in Central Florida

by Alex Tostado December 10, 2018

SANFORD, FLA. — Newmark Knight Frank Multifamily (NKF) has brokered the $45.7 million sale of Solara, a multifamily community in Sanford, about 20 miles north of Orlando. Scott Ramey, Kevin Judd and Patrick Dufour of NKF represented the seller, a multifamily investment company based in Montgomery, Ala. The buyer was Tampa- and Boston- based Robbins Property Associates. The 272-unit Solara was built in 2014 and features amenities such as a saltwater pool, lounge areas and a club lounge, featuring a billiards table and full bar with catering kitchen.

December 10, 2018

Alabama Development Hospitality Southeast

Hampton Inn & Suites Opens $15.5M Prototype Hotel in Metro Mobile

by Alex Tostado December 10, 2018

SARALAND, ALA. — Hampton Inn & Suites has opened a new 100-room, $15.5 million hotel in Saraland. Located about 12 miles north of Mobile, the hotel is Hampton’s first new prototype in a decade. Guestrooms have been redesigned to feature larger windows and bathrooms with improved lighting, décor and bath fixtures. Other amenities include 900 square feet of meeting space, a board room, complimentary breakfast, pool, fitness center and a business center. The business employs more than 18 full-time workers and will eventually employ 30 full- and part-time workers.

December 10, 2018

Acquisitions Multifamily North Carolina Southeast

Lantower Residential Acquires Multifamily Community in Charlotte for reported $84M

by Alex Tostado December 10, 2018

CHARLOTTE, N.C. — Dallas-based Lantower Residential has acquired Lantower Waverly, a 375-unit apartment community in Charlotte’s Ballantyne neighborhood. Charlotte Business Journal reports that the property sold for more than $84 million. The complex is located about 13 miles south of downtown Charlotte, and amenities include a saltwater pool, fitness center, dog park, electric car charging stations and a media center/movie theater. The seller was undisclosed.

December 10, 2018

Loans Multifamily Southeast Tennessee

Money360 Provides $4.7M Loan for Refinancing of Memphis Apartment Complex

by Alex Tostado December 10, 2018

MEMPHIS, TENN. — Money360 has provided a $4.7 million bridge loan to an undisclosed borrower for the Winbranch Apartments in Memphis. The 24-month, non-recourse refinance loan was structured with an 8.5 percent interest rate. Amenities at Winbranch include a swimming pool, tennis court, playground and a clubhouse.

December 10, 2018

Development Florida Restaurant Retail Southeast

Crocker Partners Unveils Restaurant Row Project in Boca Raton

by Alex Tostado December 10, 2018

BOCA RATON, FLA. — Crocker Partners has unveiled plans to develop Restaurant Row, a 22,500-square-foot property that would feature four 5,000-square-foot restaurants with patios and the potential for an additional 2,500-square-foot outpost. Aaron Gentry of tvsdesign is the architect of the only exclusive restaurant complex ever built in Boca Raton. Crocker Partners presented its vision to the City of Boca Raton’s Community Appearance Board on Nov. 27. The property would be located at the site of The Plaza office building, which Crocker Partners reacquired in 2014.

December 10, 2018

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