Southeast

KeyBank Provides $29.3M Bridge Loan for Multifamily Community in Northern Maryland

by Camren Skelton May 24, 2018

JOPPA, MD. — KeyBank Real Estate Capital has provided a $29.3 million bridge loan for the acquisition of The Homes at Towne Plaza, a 417-unit apartment community in Joppa, a city in Harford County. A joint venture between Blue Ocean and JCR Capital acquired the property, which was constructed in 1964. The community includes a mix of one- and two-bedroom apartments, as well as two- and three-bedroom townhomes. Community amenities include an on-site leasing center, resident services center, playgrounds and a multi-purpose sports court, all of which will be renovated.

May 24, 2018

Acquisitions Florida Retail Southeast

Cushman & Wakefield Brokers $19M Sale of Shopping Center on Florida’s East Coast

by Camren Skelton May 24, 2018

JENSEN BEACH, FLA. — Cushman & Wakefield has brokered the sale of Marketplace Square, a 169,223-square-foot shopping center located at 3181 N.W. Federal Highway in Jensen Beach. Patrick Berman, Jason Donald and Todd Tolbert of Cushman & Wakefield arranged the transaction on behalf of the seller, Leon Capital Group. Exchange Solutions Inc. acquired the asset. Hobby Lobby anchors Marketplace Square, which was 89 percent leased at the time of sale. Additional tenants include Dollar Tree, Buffalo Wild Wings, Buddy’s Home Furnishings, Once Upon a Child and Rush Trampoline Park. The center also houses two outparcels, occupied by KFC and Sonic.

May 24, 2018

Development Hospitality Southeast Tennessee

Songy Highroads Tops Out Construction on 201-Room Hyatt House Hotel in Nashville

by Camren Skelton May 24, 2018

NASHVILLE, TENN. — Atlanta-based developer Songy Highroads, in partnership with Hyatt Hotels Corp., has topped out construction on Hyatt House Nashville, a 201-room hotel located in Nashville’s West End district. Rising 15 stories on Hayes Street near the intersection of 21st Avenue, the hotel is located one block from Vanderbilt University, Saint Thomas Midtown Hospital and TriStar Centennial Medical Center. Wakefield Beasley & Associates is designing the hotel, and Reeves Young is the general contractor. The development team expects to wrap up construction on the hotel in early 2019.

May 24, 2018

Georgia Leasing Activity Retail Southeast

Gourmet Market Concept to Open 4,500 SF Location at The Battery Atlanta

by Camren Skelton May 24, 2018

ATLANTA — Braves Development Co. has signed Savi Provisions to a 4,500-square-foot lease at The Battery Atlanta. The Atlanta-based gourmet market concept will open its seventh location at the 1.5 million-square-foot mixed-use development in late 2019. The store will feature chef-driven prepared food as well as grab-and-go meals. Customers will be able to order from a menu to enjoy on-site or to take out with them. The market will also deliver anywhere inside The Battery Atlanta. Athens, Ga.-based Jittery Joe’s Coffee will share space within the market as part of the continued expansion of its partnership with Savi Provisions. Gary Lewis of Gary Lewis & Associates Real Estate represented Braves Development Co. in the lease transaction.

May 24, 2018

Development Industrial South Carolina Southeast Top Stories

Keurig to Build $350M Coffee Roasting Facility in Upstate South Carolina

by Camren Skelton May 24, 2018

MOORE, S.C. — Keurig Green Mountain Inc. will invest $350 million to build a new roasting and packaging facility in Moore, a city in Upstate South Carolina’s Spartanburg County. The specialty coffee and coffeemaker company acquired 215 acres of land within Tyger River Industrial Park from Pacolet Milliken Enterprises to build the new facility, which is expected to create 500 new jobs upon completion. Garrett Scott, John Montgomery and Brockton Hall of Colliers International represented Pacolet in the transaction. “As we plan for the future, we’re pleased to locate our newest facility in Spartanburg County to support our growth,” says Richard Jones, chief supply chain officer for Keurig. “We view the region’s talented employee base and attractive business environment as the right place to invest.” The new production facility will primarily house coffee roasting and packaging for Keurig’s single-serve K-Cup pods, and will have the potential to support beverage distribution and warehousing in the future. Prior to the sale, Pacolet made significant investments in sewer and power infrastructure at the site, and built a new road that will serve Keurig and the rest of the business park. The Greenville, S.C.-based developer has an additional 10 sites within Tyger River Industrial Park …

May 24, 2018

Acquisitions Affordable Housing Georgia Loans Multifamily Southeast

Berkadia Negotiates $32.5M Sale, $28M Financing for Affordable Housing Community Near Atlanta

by Camren Skelton May 23, 2018

CLARKSTON, GA. — Berkadia has arranged the $32.5 million sale of Lakes at Indian Creek, a 603-unit affordable housing community in Clarkston, located roughly 18 miles northeast of Atlanta. Jeremiah Jarmin and Judy MacManus of Berkadia arranged the transaction on behalf of the seller, Alden Torch Financial. In addition, Josh Finley of Berkadia arranged a 10-year, $28 million Fannie Mae loan on behalf of the buyer, EB Real Estate Group. Lakes at Indian Creek is an affordable housing community under the Section 42 Low Income Housing Tax Credit Program. The community features a mix of one- to three-bedroom units and townhomes. Amenities include a picnic area, tennis courts, swimming pools, fitness center and a computer center.

May 23, 2018

Georgia Loans Multifamily Southeast Student Housing

HFF Secures $30.4M Refinancing for Student Housing Property Near University of Georgia

by Camren Skelton May 23, 2018

ATHENS, GA. — HFF has arranged a $30.4 million loan for the refinancing of River Club Apartments and River Club Townhomes, two student housing assets located roughly two miles from the University of Georgia (UGA) campus in Athens. The adjacent communities operate as a single property, and include a total of 1,134 beds. David Keller and Mark Sixour of HFF arranged the seven-year, floating-rate loan through Freddie Mac’s Capital Markets Execution program on behalf of the borrower, an entity managed and controlled by The Scion Group. River Club Apartments includes a mix of two- to four-bedroom units with private bathrooms, hardwood-style plank flooring and flat screen TVs. The adjacent River Club Townhomes features three- and four-bedroom floor plans within two-story townhome units. Community amenities at both properties include swimming pools; volleyball, basketball and tennis courts; fitness centers; computer labs; car wash stations; private tanning salons; and on-site bus stops with service to the UGA campus.

May 23, 2018

Development Georgia Office Southeast

Zeller Realty Group Unveils Renovation Plans for 620,000 SF Office Tower in Downtown Atlanta

by Camren Skelton May 23, 2018

ATLANTA — Zeller Realty Group (ZRG) has unveiled its renovation plans for 100 Peachtree, a 620,000-square-foot, Class A office tower in downtown Atlanta. ZRG — which is a tenant at the building — has partnered with architecture firm Gensler to redesign the property’s amenity spaces. Renovations call for a modernized lobby, new outdoor gathering spaces, soft seating, an interactive screen, public art installations, interactive conference center, tenant lounge and an upgraded fitness center. In addition, ZRG will work with Georgia’s Own Credit Union — also a 100 Peachtree tenant — and Skanska USA to bring the first digital building-top signage to Atlanta. The 174-foot long digital sign will display Georgia’s Own Credit Union’s logo on an energy-efficient, LED sign, as well as community-oriented messages promoting local and charitable events. Amenity upgrades at 100 Peachtree are expected to be completed in early 2019, and the new digital building-top signage is set to be unveiled in time to welcome fans to Atlanta for Super Bowl LIII. In addition to ZRG and Georgia’s Own Credit Union, 100 Peachtree is home to The Boston Consulting Group, which occupies 60,000 square feet.

May 23, 2018

Acquisitions Multifamily North Carolina Southeast Student Housing

Marcus & Millichap Brokers $20.9M Sale of Student Housing Portfolio Near Wake Forest University

by Camren Skelton May 23, 2018

WINSTOM-SALEM, N.C. — Marcus & Millichap has brokered the $20.9 million sale of Deacon Properties, a 64-home, 251-bed student housing portfolio located within walking distance of Wake Forest University in Winston-Salem. Nate McDaniel, Allen Smith and Ian Turnbull of Marcus & Millichap arranged the transaction on behalf of the seller, Deacon Rental Properties, and procured the buyer, Mission Bay Investments. The properties feature three- and four-bedroom units ranging from 1,800 to 2,100 square feet. The portfolio was 98 percent occupied at the time of sale.

May 23, 2018

Acquisitions Florida Industrial Southeast

Colliers International Arranges $13.9M Sale of Industrial Site in South Florida

by Camren Skelton May 23, 2018

DANIA BEACH, FLA. — Colliers International has arranged the $13.9 million sale of a 28-acre industrial site located at 4030 State Road 7 in Dania Beach. Liberty Property LP, a subsidiary of Liberty Property Trust, acquired the land with plans to build the 300,000-square-foot Liberty 595 Distribution Center on the site. Steven Wasserman and Brooke Berkowtiz of Colliers International arranged the transaction on behalf of the seller, the City of Fort Lauderdale. The land once served as a composting site for the City of Fort Lauderdale, and was later used by the city’s Public Works Department.

May 23, 2018

Newer Posts

Older Posts