Southeast

PMZ Realty Capital Closes $38M Refinancing of Hotel Portfolio in Virginia

by John Nelson June 2, 2016

NEW YORK — New York-based PMZ Realty Capital LLC has closed a $38 million loan to refinance a four-property hotel portfolio in Virginia. The properties include the 136-room Aloft Chesapeake, 148-room Fairfield Inn & Suites by Marriott Williamsburg, 131-room SpringHill Suites by Marriott and the 121-room Residence Inn by Marriott Chesapeake Greenbrier. The undisclosed borrower will use the proceeds to retire existing debt on the four hotels and help recapitalize the company for future development and acquisition opportunities.

June 2, 2016

Multifamily North Carolina Southeast Student Housing

Carolina Apartment Advisors Brokers $34.2M Sale of Student Housing Property in Wilmington

by John Nelson June 2, 2016

WILMINGTON, N.C. — Carolina Apartment Advisors has arranged the $34.2 million sale of Carolina Cove, a 600-bed student housing community located less than one mile away from the University of North Carolina at Wilmington campus. Built in 2013, the property features 228 two- and three-bedroom units, as well as a resort-style swimming pool, sundeck, student lounge, business center, fitness center with a tanning bed, beach volleyball court, basketball court, hammock garden, barbecue grills, campus bus route and a private gated entry. John Edwards of Carolina Apartment Advisors represented the seller, University Housing Group. The buyer, Realco Capital Partners, plans to upgrade the furnishings and interiors of the complex.

June 2, 2016

Florida Retail Southeast

EMPI Buys Lauderdale Marketplace in Broward County for $27M

by John Nelson June 1, 2016

LAUDERDALE LAKES, FLA. — Exclusive Management and Properties Inc. (EMPI) has purchased Lauderdale Marketplace, a 265,000-square-foot retail center in Lauderdale Lakes, for $27 million. EMPI bought the property from Austin Forman and William Murphy of Lauderdale Marketplace Investments LLC. Lloyd Berger and Joe Byrnes of Berger Commercial Realty represented the seller in the transaction. Located on a 30-acre lot at the southeast corner of Oakland Park Boulevard and North State Road 7, Lauderdale Marketplace’s tenant roster includes Broward Health, YouFit Health Club, Davita Dialysis, Papa John’s, Broward Sheriff’s Office, the Department of Veteran Affairs and the Department of Highway Safety and Motor Vehicles. EMPI has retained Berger Commercial Realty to lease and manage Lauderdale Marketplace.

June 1, 2016

Florida Office Southeast

Ivy Realty Sells Office Building in Palm Beach for $16.8M

by John Nelson June 1, 2016

PALM BEACH, FLA. — Ivy Realty has sold The Royal Palm, a three-story boutique office building along “Bankers Row” in Palm Beach, for $16.8 million. Ike Ojala, Hermen Rodriguez and Jorge Portela of HFF represented Ivy Realty in the transaction and procured the buyer, EPIC. The 23,362-square-foot property is located at 250 Royal Palm Way and was 88 percent leased at the time of sale to tenants such as Deutsche Bank and Northern Trust. The Royal Palm features a two-level, 79-space parking garage and seasonal valet and doorman services.

June 1, 2016

Loans Office South Carolina Southeast

VistaPointe Partners Secures $10.9M Refinancing of Office Building in Charleston

by John Nelson June 1, 2016

CHARLESTON, S.C. — VistaPointe Partners has secured $10.9 million in refinancing for a 90,334-square-foot office building located in the Suncom Center in Charleston. Seth Denison of VistaPointe Partners negotiated the transaction on behalf of the borrower. The building is fully leased to a credit tenant with a lease term expiring in two years. VistaPointe Partners brought in Hart Advisors Group, a firm that specializes in CMBS loan workouts, to extend the tenant’s lease by one year, with an additional five-year option.

June 1, 2016

Georgia Retail Southeast

Bull Realty Brokers $8.4M Sale of Retail Center in Alpharetta

by John Nelson June 1, 2016

ALPHARETTA, GA. — Bull Realty has brokered the $8.4 million sale of Stone Walk at Northpoint, a 36,105-square-foot retail property in Alpharetta. The retail center is positioned near the Haynes Bridge Road entrance to North Point Mall, a 1 million-square-foot, enclosed regional mall. Stone Walk at Northpoint was 70 percent leased at the time of sale to tenants such as Guitar Center, Sola Salon and Scottrade. John Harrison and Austen Wiley of Atlanta-based Bull Realty were the only brokers involved in the deal. CH Retail Fund, a private equity fund based in Dallas, purchased the property from Shops at Stonewalk LLC.

June 1, 2016

Retail Southeast Virginia

Car Pool Car Wash in Richmond Sells for $3.6M in Sale-Leaseback Transaction

by John Nelson June 1, 2016

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $3.6 million sale of a Car Pool Car Wash located at 11950 W. Broad St. in Richmond’s Short Pump district. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the undisclosed buyer in the sale-leaseback transaction with the seller and tenant, Car Pool LLC.

June 1, 2016

Industrial Louisiana Southeast

Port Cameron in Louisiana to Add $1.5B Deep-Water Staging Port

by John Nelson May 31, 2016

CAMERON, LA. — Port Cameron LLC plans to develop a new deep-water staging port in Cameron, a town near Lake Charles in Louisiana’s Gulf Coast region. As the largest private energy services facility on the Gulf Coast, the new port complex will facilitate energy development in the Gulf of Mexico. Construction on the $1.5 billion project will commence in November, and Phase I of the project is slated for completion by the third quarter of 2017. Phase I will encompass 500 acres, with an additional 750 acres available for expansion in the future. In addition to the new port, the project includes constructing approximately 25,000 linear feet of all-weather roads and two new concrete bridges. The new port will be located on the Calcasieu Ship Channel, roughly 185 miles east of Houston and approximately 50 miles south of I-10. Mark Nicholas, John Talhelm, Richard Quarles and Joe Berwick of JLL Houston’s office are leading the leasing efforts for Port Cameron. According to an economic impact study by Louisiana-based economic consulting firm Loren Scott Associates, when fully leased, activity at the port will create approximately $2.8 billion in sales and about 10,000 jobs for the state of Louisiana.

May 31, 2016

Multifamily Southeast Virginia

Washington REIT Closes $244.8M Purchase of Riverside Apartments in Alexandria

by John Nelson May 31, 2016

ALEXANDRIA, VA. — Washington REIT has closed the previously announced $244.8 million acquisition of Riverside Apartments, a 1,222-unit multifamily property in Alexandria. The property was 98 percent occupied at the time of sale. Comprising three 15-story concrete buildings on approximately 28 acres, Riverside Apartments features a clubhouse with a leasing center and management office, two-story fitness center, exercise studio, social room, outdoor pool with lap pool and an outdoor theater. Washington REIT owns a portfolio of 55 properties totaling approximately 7 million square feet of commercial space and 4,480 residential units, as well as land held for development. The 55 properties consist of 25 office properties, 16 retail centers and 14 multifamily properties.

May 31, 2016

Florida Multifamily Southeast Student Housing

Pierce Education Properties Acquires Student Housing Community Near the University of Florida

by John Nelson May 31, 2016

GAINESVILLE, FLA. — Pierce Education Properties LP has acquired The Pavilion on 62nd, a 990-bed student housing community located just west of the University of Florida (UF) campus in Gainesville. The 312-unit, garden-style community offers two-, three- and four-bedroom, fully furnished units with bed to bath parity, full-sized appliances, washers and dryers and balconies. Community amenities include two resort-style pools, a 24-hour fitness center, outdoor basketball court, upgraded game room and high-speed internet access. In addition to UF, The Pavilion also serves Santa Fe College students. KeyBank Real Estate provided acquisition financing for the transaction.

May 31, 2016

Newer Posts

Older Posts