Southeast

Walker & Dunlop Provides $34.4M HUD Loan for Multifamily Community in Hampton Roads Region

by Camren Skelton February 22, 2018

NEWPORT NEWS, VA. — Walker & Dunlop has provided a $34.4 million loan through the United States Department of Housing and Urban Development (HUD) for the refinancing of Meridian Parkside, a 308-unit multifamily community in Newport News in Virginia’s Hampton Roads region. Hal Reinauer, Tom Toland and Chris Rumul of Walker & Dunlop worked with HUD’s Baltimore office to originate the 35-year HUD 223(f) loan on behalf of the borrowers, Bonaventure Realty Group and Phillip Roper III. The partnership originally acquired the property in 2016. Constructed in 2008, Meridian Parkside offers one- to three-bedroom units and features a 24-hour fitness center, business center, game room, grilling stations, resort-style pool and a sundeck. Section 223(f) insures mortgage loans to facilitate the purchase or refinancing of existing multifamily housing.

February 22, 2018

Florida Multifamily Southeast

Morgan, Mesirow Financial Open 309-Unit Apartment Tower in Midtown Miami

by Camren Skelton February 22, 2018

MIAMI — Houston-based developer Morgan, in conjunction with Mesirow Financial, has opened Midtown 29, a 309-unit apartment tower located at 180 N.E. 29th St. in Midtown Miami. Designed by Stantec, the community is situated at the entrance to the 645,000-square-foot The Shops at Midtown Miami. Wells Fargo provided construction financing for the 20-story project, which comprises studio to three-bedroom units, averaging 837 square feet. The seventh floor amenity deck features a resort-style swimming pool with private cabanas, an outdoor bar, grilling stations and a fitness center with a yoga/spinning studio. The development also includes 12,000 square feet of ground-floor retail and an adjacent six-story parking garage. In addition to delivering Midtown 29, Morgan plans to open the 350-unit Pearl Flagler Village in Fort Lauderdale at the end of the year.

February 22, 2018

North Carolina Office Southeast

CBRE Arranges 41,716 SF Lease for IT Company’s New Headquarters in Charlotte

by Camren Skelton February 22, 2018

CHARLOTTE, N.C. —CBRE has arranged a 41,716-square-foot lease for Curvature, an IT support, products and services provider, at Coliseum Centre Five in Charlotte’s Airport submarket. Curvature will move its global headquarters to the 152,000-square-foot, six-story building in the second quarter, relocating from its current location at 10420 Harris Oaks Blvd. in north Charlotte. The company will occupy the entire sixth floor and most of the fifth floor. Joe Franco and Stephanie Spivey of CBRE arranged the lease on behalf of the landlord, Americas Capital Partners. Colin Reed, Mary Ayers and Virginia Luther of Savills Studley represented Curvature. Coliseum Centre Five — part of a master-planned, six-building office park — is located less than five miles from Charlotte Douglas International Airport and within walking distance to more than 30 restaurants and shops. Americas Capital Partners is currently underway on renovations to the property, including a new fitness center and conference facility.

February 22, 2018

Hospitality Southeast Tennessee

Peachtree Hotel Group Opens 98-Room Hilton Garden Inn in Jackson, Tennessee

by Camren Skelton February 22, 2018

JACKSON, TENN. — Peachtree Hotel Group (PHG) has opened the 98-room Hilton Garden Inn Jackson, located at 1324 Vann Drive in Jackson. The city serves as a regional hub for five major transportation companies, including FedEx, UPS and Old Dominion. The hotel features a heated outdoor swimming pool, 24-hour fitness center, complimentary breakfast, convenience store and hotel dining at the Garden Grille & Bar. In addition, the hotel includes 2,300 square feet of flexible event space and a boardroom for smaller meetings of up to 12 people.

February 22, 2018

Georgia Mixed-Use Office Southeast

KDC, Partners to Develop Eight Acres of Office Space at $400M Mixed-Use Project in Metro Atlanta

by Camren Skelton February 21, 2018

ALPHARETTA, GA. — KDC, in conjunction with Worthington Hyde Partners and Transwestern, has unveiled plans to develop eight acres of build-to-suit office space at Windward Park, a $400 million mixed-use development in the north Atlanta metro of Alpharetta. The site is zoned for two 250,000-square-foot, Class A office buildings. The 48-acre Windward Park development is located at the corner of Windward Parkway and GA 400 in Atlanta’s North Fulton submarket. Worthington Hyde acquired the site from Prudential Financial Inc. (now PGIM Real Estate) in 2007, and began developing the project in 2015. At completion, Windward Park will feature Class A office space with structured parking; a 249-room Hilton-branded hotel; Caravelle at Windward Park, which will include 200 condominiums and 190 townhomes marketed and developed by Lennar Corp.; a 31,000-square-foot retail village; and a two-acre park. In addition, Windward Park will provide direct access to MARTA’s Windward Park and Ride, which provides a bus service to and from the North Springs MARTA station. The Hilton hotel is scheduled to break ground this summer, and the residential units are currently under construction. A construction timeline was not released for the office portion.

February 21, 2018

Loans Multifamily North Carolina Southeast

HFF Arranges $26M Refinancing for Multifamily Community in Downtown Raleigh

by Camren Skelton February 21, 2018

RALEIGH, N.C. — HFF has arranged a $26 million loan for the refinancing of The Lincoln Apartments, a 224-unit multifamily community in downtown Raleigh. The property is located at 408 E. Hargett St., less than a half-mile from the North Carolina State Capitol. Matthew Schoenfeldt, Cory Fowler and Roger Edwards of HFF arranged the floating-rate loan through MetLife Investment Management on behalf of the borrower, Lincoln Apartments LLC, an affiliate of Banner Real Estate Group. Completed in 2015, The Lincoln Apartments features a resident club room with a kitchen, resort-style pool, outdoor fireplace, fitness center with yoga studio, pet spa, coffee bar, enclosed parking garage and an electric car charging station. Individual units average 759 square feet and feature wood-style flooring, granite countertops, stainless steel appliances, balconies, walk-in closets and full-size washers and dryers.

February 21, 2018

Florida Multifamily Southeast Student Housing

Campus First Acquires 661-Bed Student Housing Community Near University of Florida

by Camren Skelton February 21, 2018

GAINESVILLE, FLA. — Campus First Student Living has acquired The Ridge, a 661-bed student housing community located less than one mile from the University of Florida campus in Gainesville. The property offers two-, four- and five-bedroom, apartment- and townhome-style units. Shared amenities include a three-room fitness center, clubhouse, study lounges, a beach entry pool, hot tub and lazy river. Planned renovations for the community — set for completion this fall — include improvements to the clubhouse and the addition of private study areas, fire pits, outdoor game areas, a yoga studio and a dog park. Ryan Lang of ARA Newmark’s Student Housing Group represented the seller in the transaction.

February 21, 2018

Georgia Office Southeast

CBRE to Launch $6M Renovation of Three Office Buildings in Atlanta’s Central Perimeter

by Camren Skelton February 21, 2018

ATLANTA — CBRE Global Investors has unveiled plans for its $6 million renovation of three office buildings at Concourse Corporate Center in Atlanta’s Central Perimeter office submarket. CBRE Global Investors, the investment management arm of CBRE Inc., acquired Concourse Buildings I, II and IV from BLT in December for $145 million, according to the Atlanta Business Chronicle. The three buildings under CBRE’s ownership total 751,093 square feet. As part of the renovation, CBRE will rename the center “The Collective at Concourse,” and will add the buildings to its’ “5-Star Worldwide” program. Full lobby renovations are planned for Buildings II and IV, along with 5-star conference centers, a new speculative suite program and front-of-house enhancements. The renovated, atrium-style lobbies will feature biophilic design elements including natural light, indoor water features and plant life. In addition, a new outdoor greenspace will be added for community events. Available floor plates range from 37,000 to 41,000 square feet and will include loft suites with open floor plans. The buildings are 87 percent leased to tenants such as SecureWorks, T-Mobile, Elavon and Amtrak. In addition to Concourse Buildings I, II and IV, the center is home to Atlanta’s iconic “King and Queen” towers that are separately …

February 21, 2018

Florida Retail Southeast

GBT Unveils Tenant Roster, Plans for Shopping Center Redevelopment in Port Charlotte, Florida

by Camren Skelton February 21, 2018

PORT CHARLOTTE, FLA. — GBT Realty Corp. has unveiled the tenant lineup and renovation plans for Port Charlotte Marketplace, a shopping center redevelopment project in Port Charlotte, roughly 40 miles south of Sarasota. Located at Tamiami Trail/US Highway 41 and Cochran Boulevard, the nine-acre site formerly housed a vacant 108,500-square-foot Kmart. Brentwood, Tenn.-based GBT acquired the 75-year ground lease last fall. Redevelopment plans include a complete renovation of the former Kmart building with an updated façade, the addition of two small shop buildings and new signage, paving and landscape. Signed tenants include a 40,000-square-foot Burlington, a 20,000-square-foot HomeGoods and a 7,500 square foot national shoe store. The center is approximately 76 percent leased, with 15,000 square feet available. Tenants are expected to open at the development this fall. The second phase of the project will include an additional 62,000 square feet of retail and restaurant space on the parcel’s five acres.

February 21, 2018

Kentucky Retail Southeast

Mid-America Brokers $59.8M Sale of Two Kroger-Anchored Centers in Lexington

by Camren Skelton February 20, 2018

LEXINGTON, KY. — Mid-America Real Estate Corp. has brokered the $59.8 million sale of two Kroger-anchored shopping centers in Lexington: Tates Creek Centre and Millpond Center. Branch Properties acquired both assets in a single transaction. Joe Girardi of Mid-America arranged the sale on behalf of the seller, Weingarten Realty. The 196,028-square-foot Tates Creek Centre is home to tenants such as Proof Fitness, Rite Aid, MOD Pizza, PNC Bank and H&R Block. Millpond Center totals 124,498 square feet and is home to tenants such as Workout Anytime, Subway and Pizza Hut.

February 20, 2018

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