MIAMI — SL Capital has provided financing for the acquisition of a four-property, Class A student housing portfolio in Kentucky, Louisiana, South Carolina and Missouri. Campus Evolutions purchased the portfolio for $46.5 million. A $33.5 million CMBS loan for the properties was arranged. Miami-based SL Capital is an exclusive affiliate of Cantor Fitzgerald Commercial Real Estate and makes nonrecourse loans up to $200 million.
Southeast
MIAMI AND TAMPA, FLA. — HFF has hired Marty Busekrus as a director in its Miami office and Zach Nolan as a real estate analyst in its Tampa office. Busekrus will focus on industrial investment sales throughout the Southeast. He joins HFF from CBRE where he was a senior sales associate in its private capital group. Busekrus received his bachelor’s degree from Southern Illinois University and his master’s degree from Webster University. Additionally, Nolan joins HFF as a real estate analyst. He previously worked at RJS Realty Group, Pollock Financial Group and Bank of America Merrill Lynch. He holds his bachelor’s and master’s degrees from Stanford University. Other recent additions to HFF’s Florida team include Alexandria Lalos, Jose Carranza and Whitaker Leonhardt.
ATLANTA — Host Hotels & Resorts LP has sold the 1,663-room Atlanta Marriott Marquis, located at 265 Peachtree Center Ave. in Atlanta, for $293 million. The buyer was undisclosed. The property includes 160,000 square feet of contiguous meeting space, 84 meeting rooms, 1,569 guest rooms and 94 suites. The hotel is subject to a long-term management agreement with Marriott International Inc. The proceeds will be used to fund future acquisitions, pay down debt or for general corporate purposes.
BRANDON, FLA. — Plantation Key and Providence Park, two multifamily communities totaling 982 units located directly across the street from each other in Brandon, have traded for $57 million. Jeffrey Meyer and Michael Donaldson of Marcus & Millichap’s Tampa, Fla., office represented the sellers, two private partnerships, and the buyer, a private real estate investment group based in Tampa. The two Brandon properties are located at 1918 Plantation Key Cir. and 401 Providence Rd.
ORLANDO, FLA. — Carlton Arms South apartments has traded for $15.3 million at 4444 S. Rio Grande Ave. in Orlando. Shelton Granade, Luke Wickham and Justin Basquill of CBRE’s Orlando office represented the unlisted seller. The Orlando multifamily complex features two pools, a clubhouse and fitness center. It was 90 percent occupied at the time of the transaction.
GARNER, N.C. — First American Exchange Co. has sold a 180,000-square-foot distribution center at 1001 Pergo Pkwy. in Garner to Exeter Property Group. The industrial property was built in 2002 and is 100 percent leased to Pergo, laminate flooring manufacturer. Butch Miller and Ann-Stewart Patterson of CBRE/Raleigh represented the seller. Pergo renewed its 180,000-square-foot lease in May 2012.
NAPLES, FLA. — A three-story, 30,039-square-foot Class B office building at 1250 Tamiami Trail North in Naples has traded for $3.5 million. Jefferson-Pilot Investments Inc., a subsidiary of Lincoln National Financial Group, sold the property to Gracen Associates LLC. William Mankin of Colliers International Southwest Florida represented the seller and Chip Olson of Naples-based Colonial Square Realty represented the buyer. Current tenants include Ryder Orthopedics, Creative Images Hair Design, Wolf & Layton Dentistry and others.
The Nashville metropolitan retail market remains strong in comparison to the rest of the United States as the overall vacancy rate dropped to 5.7 percent at the end of the third quarter. Nashville’s MSA has grown to more than 1.6 million residents and ranks as the 38th largest MSA in the country with Nashville being the largest core population in the state of Tennessee. The strong economy is supported by diverse sectors of industry including healthcare, entertainment, education, and automotive. At the end of the third quarter, the unemployment rate dropped to only 7.3 percent compared to the national average of 8.6 percent. Highly sought after retail submarkets, such as Green Hills, Brentwood, and Midtown/West End Avenue corridor, have little to no vacancy which has spurred a new trend in Nashville: urban and mixed-use redevelopments. The lack of available large tracts of land for development in and around metro Nashville has created significant demand back into the core urban markets of Nashville. For example, following the success of the highly touted Hill Center retail/office project a few years ago, the Green Hills Mall underwent a major expansion to accommodate Tennessee’s first Nordstrom and Container Store in 2011. In Brentwood, Bristol …
CHARLOTTE, N.C. — The Keith Corporation has sold a nine-building industrial portfolio totaling approximately 1.4 million square feet across the state of North Carolina. S&F Acquisitions Inc., a joint venture between Schmier & Feurring Properties Inc., L&J Schmier Investment Co. and Indepencia Asset Management, purchased the portfolio for $84 million. Chris Norvell and Scot Humphrey of Cushman & Wakefield/Thalhimer’s Capital Markets team as well as Stewart Calhoun, Jim Carpenter and Mike Davis of Cushman & Wakefield’s Industrial Advisory Group represented The Keith Corporation. The properties include five buildings in Lincoln County Industrial Park in Lincolnton, N.C., two buildings in Sherrill Industrial Park in Statesville, N.C., one building in Cleveland County Industrial Park in Kings Mountain, N.C., and one building in Rock Creek Center in Whitsett, N.C. The buildings are 100 percent leased to a variety of tenants including Crate & Barrel, Lenovo and United Technologies.
CHARLOTTE, N.C. — Trinity Capital Advisors, through a joint venture with Pacific Coast Capital Partners, has purchased two Class A office and warehouse buildings in Shopton Ridge Industrial Park at 3845 Shopton Rd. and 3810 Shutterfly Rd. in Charlotte for an undisclosed price. The two buildings total 211,200 square feet and include tenants Linde Gas, Apria Healthcare and Cardinal Health.