Southeast

Klein Enterprises Breaks Ground on Apartment Community in Metro Baltimore

by John Nelson November 13, 2015

TOWSON, MD. — Klein Enterprises has broken ground on Southerly Square Apartments, a 175-unit multifamily community in Towson, roughly 10 miles north of Baltimore. The property is located on Southerly Road close to the Baltimore Beltway and adjacent to Goucher College. The apartment community will feature an integrated five-story, 361-space parking garage. Community amenities will include a private courtyard with a swimming pool, fire pit, bocce ball court, fitness center, game room with billiards, theater room, café and a rooftop balcony. Units will feature stainless steel appliances, full-sized washer and dryer units, walk-in closets, high-speed internet access, high ceilings and a patio or balcony. Columbia National Real Estate Finance LLC is providing construction financing for the project. Klein Enterprises is developing Southerly Square with Taylor Property Group. Klein expects to deliver the apartment community by spring 2017.

November 13, 2015

Loans Louisiana Retail Southeast Uncategorized

HFF Arranges $27.7M Refinancing of Grocery-Anchored Shopping Center in New Orleans

by John Nelson November 13, 2015

NEW ORLEANS — HFF has arranged a $27.7 million loan for Algiers Plaza, a recently renovated, 236,389-square-foot shopping center located along General deGaulle Drive in New Orleans. The Winn Dixie-anchored shopping center has recently added Petco, Ross Dress for Less, T.J. Maxx and Burke’s to its tenant roster. Existing tenants include Payless Shoe Source, Buffalo Wild Wings, Mattress Firm and Walgreens. Algiers Plaza was 85 percent leased at the time of financing. De’On Collins and Travis Anderson of HFF arranged the floating-rate loan through BBVA Compass on behalf of the borrower, N3 Real Estate. N3 will use the loan proceeds to pay off a construction loan, acquire all of the minority partnership interests and fund future capital improvements and leasing costs at the property.

November 13, 2015

Georgia Loans Multifamily Southeast

Pillar Originates $7.5M Fannie Mae Loan for Historic Apartment Building in Atlanta

by John Nelson November 13, 2015

ATLANTA — Pillar, an affiliate of Guggenheim Partners, has originated a $7.5 million Fannie Mae loan for the refinance of The Roosevelt, a 120-unit multifamily building located in Atlanta’s Grant Park historic district. Gabe Seghi of Pillar’s Boca Raton, Fla., office originated the fixed-rate, 10-year loan with a 30-year amortization schedule on behalf of the borrower, a regional multifamily owner/operator. Pillar is a national Fannie Mae DUS lender.

November 13, 2015

Florida Loans Retail Southeast

Grandbridge Arranges $4.6M Loan for Grocery-Anchored Center in Florida

by John Nelson November 13, 2015

SEMINOLE, FLA. — Grandbridge Real Estate Capital has closed a $4.6 million loan secured by a Winn Dixie-anchored shopping center in Seminole. Bill Mattice and Phillip Cox of Grandbridge’s Greenville, S.C., office arranged the 10-year, interest-only loan through an unnamed CMBS lender. According to Mattice, the unnamed borrower was using a 1031 exchange as the equity to acquire the shopping center.

November 13, 2015

Georgia Loans Mixed-Use Southeast

A10 Capital Provides $67M Acquisition Loan for Value-Add Portfolio in Metro Atlanta

by John Nelson November 12, 2015

ATLANTA — A10 Capital has provided a $67 million acquisition loan for a 12-property portfolio in metro Atlanta. The portfolio includes value-add retail, industrial and office properties throughout the greater Atlanta area. Gregg Shapiro of HFF arranged the non-recourse loan on behalf of the borrower, Stream Realty Partners. Stream will use the loan proceeds to fund the acquisition, renovation and future lease-up of the portfolio.

November 12, 2015

Florida Mixed-Use Southeast

Investment Properties Corp. Brokers $25.5M Sale of Retail, Offices in Downtown Naples

by John Nelson November 12, 2015

NAPLES, FLA. — Investment Properties Corp. has brokered the $25.5 million sale of 50,000 square feet of street-level retail and office space located at 800 and 821 5th Ave. S. in downtown Naples. Westbury International Corp. sold the assets to a subsidiary of Hendricks Commercial Properties LLC. David Stevens of Investment Properties Corp. brokered the transaction.

November 12, 2015

North Carolina Office Southeast

CBRE | Raleigh Brokers $20M Sale of Office Building in Raleigh

by John Nelson November 12, 2015

RALEIGH, N.C. — CBRE | Raleigh has brokered the sale of Carolina Place, a five-story, 99,181-square-foot office building located at 2626 Glenwood Ave. in Raleigh. The Class A building was 90 percent leased at the time of sale. Houston-based Griffin Partners purchased the asset from New Boston Fund for $20 million, according to the Triangle Business Journal. Ben Kilgore of CBRE | Raleigh, along with John Boylan and J.D. McNeil of Spectrum Properties, represented New Boston Fund in the sale.

November 12, 2015

Merchants Walk Huntsville Whole Foods Market

Alabama Retail Southeast

RCP Cos. Opens Phase I of The Shops at Merchants Walk in Huntsville

by John Nelson November 12, 2015

HUNTSVILLE, ALA. — RCP Cos. has opened Phase I of The Shops at Merchants Walk, a 90,000-square-foot retail center in Huntsville. Phase I brings north Alabama its only Whole Foods Market. The 42,000-square-foot store anchors the center, which is roughly 90 percent pre-leased to tenants such as lululemon athletica, Farm Burger, Spa Sydell, Mountain High Outfitters, Maki Fresh, Orangetheory Fitness, Local Taco, The Masters Aveda Salon and DressUp Boutique. The shopping center is situated directly adjacent to the 650,000-square-foot Parkway Place, a regional mall.

November 12, 2015

Industrial North Carolina Southeast

Ziff Properties Sells Industrial Facility in Charlotte for $4.7M

by John Nelson November 12, 2015

CHARLOTTE, N.C. — Ziff Properties Inc. has sold Maplecrest Industrial Park, a 63,200-square-foot flex industrial facility located in Charlotte. The buyer, an undisclosed private buyer based in the Western U.S., purchased the asset for $4.7 million. The transaction marks Ziff Properties’ fifth North Carolina disposition this year. Jared Londry, Robert Cochran and Ashton Nolan of Cushman & Wakefield represented Ziff in the transaction.

November 12, 2015

Regal Entertainment Group Knoxville One Riverwalk

Office Southeast Tennessee

Southeastern Development Relocates Regal’s Headquarters to Knoxville

by John Nelson November 11, 2015

KNOXVILLE, TENN. — Southeastern Development Associates has signed Regal Entertainment Group to a lease that relocates its world corporate headquarters to downtown Knoxville. The company is the world’s largest theater chain with nearly 7,500 screens. Regal will occupy a nine-story, 178,000-square-foot office building located on the Tennessee River in Southeastern Development’s One Riverwalk mixed-use development. Upon completion, One Riverwalk will feature 300 luxury apartment communities, student housing, office space, a hotel, retail shopping, restaurants, a riverwalk esplanade, parks and an entertainment plaza. Regal is expected to bring approximately 400 employees with the relocation. Southeastern Development Associates, formerly known as Blanchard & Calhoun Commercial, partnered with Tennessee Governor Bill Haslam, the city of Knoxville, Knoxville Mayor Tim Burchett and the Tennessee Valley Authority. Tommy Saul, Rhodes Seeger and Chris Senn represented Southeastern Development Associates internally in the transaction.

November 11, 2015

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