HOMOSASSA, FLA. — Capital One has provided an $11 million, fixed-rate Fannie Mae loan to refinance Sunflower Springs Assisted Living Community, a 72-unit facility in Homosassa, approximately 60 miles north of Tampa. The property was built in 2009. Allison Holland of Capital One originated the12-year loan on behalf of the undisclosed borrower.
ATLANTA — Transwestern Development Co. plans to develop Nexus, a 354,500-square-foot trophy office tower in Atlanta’s Central Perimeter submarket. The building will be situated at the intersection of Hammond Drive and Perimeter Center Parkway. Transwestern expects to break ground on Nexus in the first quarter of 2017 and wrap up construction in the fourth quarter of 2018. Nexus will feature floor-to-ceiling glass, flexible floorplates for both open and closed layouts, 10-foot ceilings, a two-story lobby and structured parking below the office building and in an adjacent deck connected via skybridge. The property will also featured a covered connection to the Dunwoody MARTA station. Cooper Carry has been selected to design Nexus, and Transwestern will provide leasing and management services.
DUNWOODY, GA. — Hilton Worldwide has opened Hampton Inn & Suites by Hilton Atlanta Perimeter Dunwoody, a 132-room hotel located at 4565 Ashford Dunwoody Road in Dunwoody. Hotel Equities manages the hotel, which features free Wi-Fi, a 24-hour business center, 500-square-foot meeting space, indoor pool and a fitness center. The hotel is situated about 23 miles from Hartsfield-Jackson Atlanta International Airport.
ASHBURN, VA. — St. John Properties Inc. has begun construction on two speculative industrial facilities totaling 90,000 square feet in Ashburn. Designed to LEED Gold standards, the brick and glass buildings will feature frontage on Loudoun County Parkway and 18-foot clear heights. The properties represent the first phase of development for Ashburn Crossing, an 81-acre mixed-use development situated five miles south of Washington-Dulles International Airport. On full build-out, Ashburn Crossing will span more than 1 million square feet.
GREENVILLE, S.C. — Elevation Financial Group LLC has sold the 200-unit Serenity Apartments in Greenville for $9.3 million through its Elevation Real Property Fund IV investment fund. The South Carolina office of Berkadia Real Estate Advisors LLC brokered the transaction. Elevation Financial purchased the asset in 2014 for $3.8 million and increased the property’s net operating income by 320 percent after 15 months of ownership. Elevation Financial invested in capital improvements to Serenity Apartments prior to the sale, including replacing all the property’s windows and creating a new leasing office.
DELAND, FLA. — Brookdale Senior Living has announced plans to add 32 memory care units and 42 assisted living units to Brookdale DeLand, the company’s community in DeLand, approximately 40 miles north of Orlando. The cost of the expansion will be $8 million. In addition to the new units, the project will add an onsite therapy gym to the community. Brookdale is the largest owner and operator of seniors housing properties in the United States.
BETHESDA, MD. — Carr Properties has acquired a 163,000-square-foot office building in the Central Business District of Bethesda for $105 million. The seller was an entity controlled by American Society of Health-System Pharmacists. Carr intends to redevelop and expand the four-story building into a mixed-use property that will include over 900,000 square feet of office, residential and retail space. The project will also include the addition of the Bethesda Purple Line Station, a new entrance to the Metro Red Line and a below-grade tunnel for the Capital Crescent Trail. The property is located at 7272 Wisconsin Ave. “We believe that the Apex site, as redeveloped, will be the new commercial hub of the Bethesda market with unparalleled access to public transportation, bike trails and the thriving restaurant and retail of Bethesda Row,” says Oliver Carr III, CEO of Carr Properties. “We could not be more excited about this opportunity for our company.” In a related transaction, the American Society of Health-System Pharmacists will relocate its headquarters to Carr’s recently developed LEED Platinum-certified office building located at 4500 East West Highway in Bethesda. Carr Properties is a private REIT that owns, acquires and develops commercial real estate, predominately office properties, in …
ATLANTA — Avison Young has advised Adventus Realty Trust in its off-market acquisition of 1000 Parkwood, a 212,500-square-foot office building located in Atlanta’s Cumberland/Galleria office submarket. The seller, Atlanta Property Group, sold the 10-story property to Adventus for $38.9 million. Built in 1985, 1000 Parkwood was 92 percent leased at the time of sale to tenants including global chemical company Kemira. Matt Tritschler of Avison Young advised Adventus in the transaction, and CBRE represented Atlanta Property Group.
ORLANDO, FLA. — Berkadia has brokered the $24.6 million sale of a two-property multifamily portfolio in southeast Orlando. Located across Curry Ford Road from one another, the portfolio includes the 210-unit Pendelton Park Villas and the 100-unit Carlyle Court Apartments. At the time of sale, Pendelton Park Villas was 97 percent occupied and Carlyle Court was 94 percent occupied. Both properties have undergone capital improvements totaling more than $1.2 million since 2012. Cole Whitaker and Hal Warren of Berkadia represented the seller, West Springfield, Mass.-based Florida Pendelton LP, in the transaction. The buyer was Miami-based Lloyd Jones Capital LLC.
CAPE CORAL, FLA. — Marcus & Millichap has brokered the $8.5 million sale of Crossings at Cape Coral, a 168-unit affordable housing community located at 1150 Hancock Creek S. Blvd. in Cape Coral. The property was constructed and placed into the Low Income Housing Tax Credit program in 2000. The community comprises eight three-story buildings and a freestanding clubhouse. Evan Kristol of Marcus & Millichap’s Fort Lauderdale office represented the seller, an institutional owner based in New York City, and the private, Florida-based buyer in the transaction.