Southeast

KeyBank Provides $41.6M Fannie Mae Loan for Multifamily Community in Central Florida

by Camren Skelton March 7, 2018

KISSIMMEE, FLA. — KeyBank Real Estate Capital has provided a $41.6 million Fannie Mae loan for the acquisition of Douglas Grand at Westside, a 336-unit multifamily community in the central Florida community of Kissimmee. Chris Black of KeyBank originated the 10-year, fixed-rate loan with five years of interest-only payments and a 30-year amortization schedule on behalf of the undisclosed borrower. Douglas Grand at Westside was constructed in 2016 and features a pet park, swimming pool, fitness center, fire pit and a playground.

March 7, 2018

Hospitality Loans South Carolina Southeast

PMZ Realty Capital Arranges $19.5M Construction Loan for New Hotel Near Charleston

by Camren Skelton March 7, 2018

MOUNT PLEASANT, S.C. — PMZ Realty Capital LLC has arranged a $19.5 million construction loan for the Hotel Indigo – Charleston, a 158-room hotel under construction in Mount Pleasant, roughly 10 miles northeast of Charleston. The name of the borrower was not disclosed. The hotel is located next to the Arthur Ravenel Jr. Bridge and four miles from historic Charleston sites including The Market and The Battery. The hotel is scheduled to open later this year and will feature an onsite restaurant and bar, a resort-style pool and meeting and event spaces. The new hotel will be the first Hotel Indigo in the Charleston area.

March 7, 2018

Multifamily Southeast Tennessee

JLL Brokers Sale of 296-Unit Apartment Community in Knoxville

by Camren Skelton March 7, 2018

KNOXVILLE, TENN. — JLL Capital Markets has brokered the sale of Preserve at Hardin Valley, a 296-unit apartment community in Knoxville. Vincent Lefler and Ian Anderson of JLL arranged the transaction on behalf of the seller, a joint venture between Crescent Bend Development and Cumberland Advisors. Grimley Residential acquired the property for an undisclosed price. Preserve at Hardin Valley features a resort-style pool, cyber café, indoor/outdoor fireplaces and a 24-hour fitness center. The community is located roughly 15 miles west of the University of Tennessee.

March 7, 2018

Georgia Southeast

Dilweg Cos. Acquires Office Building in Midtown Atlanta for $75M

by Camren Skelton March 6, 2018

ATLANTA — The Dilweg Cos. has acquired Pershing Point, a 409,579-square-foot office building located at 1375 Peachtree St. in Midtown Atlanta. The sales price was not disclosed, but the Atlanta Business Chronicle reports the building sold for $75 million, or $183 per square foot. Will Yowell, Justin Parsonnet, Jay O’Meara and Ryan Reethof of CBRE arranged the transaction on behalf of the seller, CBRE Global Investors. CBRE Global Investors was the asset manager on behalf of the California State Teachers Retirement System, according to the Atlanta Business Chronicle. Dilweg plans to invest more than $10 million to improve the building’s exterior, mechanical systems, common areas and tenant amenities. At the time of sale, Pershing Point was 59 percent leased to tenants such as Kaiser Permanente, Huge, Echo Global and CMGRP. CBRE’s Chris Port and Nicole Goldsmith have been retained to handle the building’s leasing assignment.

March 6, 2018

Florida Multifamily Southeast

TruAmerica Buys Multifamily Community in Central Florida for $50M

by Camren Skelton March 6, 2018

WINTER SPRINGS, FLA. — TruAmerica Multifamily has purchased Astor Park, a 368-unit apartment community in Winter Springs, for $50 million. The community is located at 4545 Willa Creek Drive, roughly 16 miles north of Orlando. The name of the seller was not disclosed. Astor Park was built in two phases between 1987 and 1999 and features a mix of one-, two- and three-bedroom units. TruAmerica plans to invest $4 million to upgrade the property’s exteriors, common areas and unit interiors. Planned renovations will include new stainless steel appliances, stone countertops, new cabinet faces, upgraded lighting and plumbing fixtures, vinyl plank flooring, new landscaping throughout, exterior paint, fitness center upgrades and pool furnishings.

March 6, 2018

Industrial South Carolina Southeast

West-Signal Breaks Ground on 340,000 SF Industrial Building for Technology Company Near Charleston

by Camren Skelton March 6, 2018

HANAHAN S.C. — West-Signal, a joint venture between an affiliate of North Signal Capital LLC and a fund managed by Westport Capital Partners LLC, has broken ground on a 340,000-square-foot industrial facility within North Pointe Commerce Park in Hanahan, roughly 15 miles northwest of Charleston. The partnership is developing the warehouse and production facility for Science Applications International Corp. (SAIC), a technology integrator in the engineering, technical and information technology markets. SAIC’s primary client is the U.S. federal government. The LEED-certified building will feature tilt-up concrete construction, 32-foot clear heights, an ESFR sprinkler system and LED lighting. The building will also have the capacity to expand an additional 74,000 square feet. Evans General Contractors will design and build the facility, and Bank of America is providing construction financing for the project. West-Signal expects to deliver the facility in the fourth quarter. The joint venture acquired three developable sites along North Pointe Industrial Boulevard — collectively referred to as North Pointe Commerce Park — in late 2017 and is developing each one. The project will ultimately add approximately 715,000 square feet of industrial space to the greater Charleston area. The first building within the park is slated for delivery in September. Peter Fennelly, …

March 6, 2018

North Carolina Office Southeast

HFF Brokers $18.4M Sale of Office Building in Metro Raleigh

by Camren Skelton March 6, 2018

CARY, N.C. — HFF has brokered the $18.4 million sale of 6501 Weston Parkway, a 93,130-square-foot office building in Cary, roughly 12 miles west of Raleigh. Scot Humphrey, Ryan Clutter and Chris Lingerfelt of HFF arranged the transaction on behalf of the seller, a joint venture between Childress Klein Properties and WHI Real Estate Partners, and procured the buyer, Albany Road Real Estate Partners. Originally constructed in 1996, 6501 Weston Parkway was fully renovated in 2016 and was 90.1 percent leased at the time of sale to tenants such as Charter Communications, Zift Solutions and Aerotek.

March 6, 2018

Florida Multifamily Southeast

Marcus & Millichap Arranges $14.3M Sale of Apartment Asset in Miami Beach

by Camren Skelton March 6, 2018

MIAMI BEACH, FLA. — Marcus & Millichap has arranged the $14.3 million sale of Park Terrace, a 32-unit apartment building located at 355 19th St. in Miami Beach. Florida-based Blue Road acquired the asset, according to the South Florida Business Journal. Joseph Thomas, Adam Duncan and Brett McMahon of Marcus & Millichap arranged the transaction on behalf of the undisclosed seller. Park Terrace was originally constructed in 1951 and features a swimming pool and a sundeck. Blue Road plans to convert the property into a boutique hotel, as well as increase the building height and add more rooms.

March 6, 2018

Office Southeast Virginia

Apex Clean Energy Unveils Plans for New Headquarters at 130,000 SF Office Project in Charlottesville

by Camren Skelton March 5, 2018

CHARLOTTESVILLE, VA. — Apex Clean Energy has unveiled plans for its new corporate headquarters at a planned 130,000–square-foot office building in downtown Charlottesville. The move allows the company to consolidate more than 170 employees currently spread across multiple office buildings in the area. Apex Clean Energy, which develops, constructs and operates wind and solar power facilities across North America, will occupy 60,000 square feet of office space and lease the remaining space to other tenants. In addition, the seven-story building — to be located on Garrett Street — will include 10,000 square feet of ground-floor retail. John Pritzlaff of Cushman & Wakefield | Thalhimer arranged the lease on behalf of Apex Clean Energy. Riverbend Development, the project developer, plans to deliver the building 24 months after construction kicks off this summer. Architecture firm William McDonough + Partners is designing the project.

March 5, 2018

Florida Multifamily Southeast

TriBridge, Sefira Capital to Open $49M Apartment Community in Jacksonville

by Camren Skelton March 5, 2018

JACKSONVILLE, FLA. — Atlanta-based TriBridge Residential LLC, in partnership with Miami-based Sefira Capital, will soon deliver The Jaxon, a 287-unit apartment community located at 4450 Tropea Way in Jacksonville. Slated to open this summer, the property is situated across the street from St. Johns Town Center, Jacksonville’s premier outdoor mall and retail corridor. The $49 million apartment community will offer a mix of studio to three-bedroom units with granite countertops, built-in Bluetooth speakers and custom finishes. Community amenities will include a Vegas-style swimming pool with cabanas and rain curtain, a party porch, dog park, dog wash station and a 24-hour package delivery system with refrigerated storage.

March 5, 2018

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