NEW ORLEANS — The 111-room Dauphine Orleans Hotel, located at 415-420 Dauphine St. in New Orleans' French Quarter, has received $10 million in financing. Johnson Capital and CRCapital Advisors arranged the 10-year loan with a 25-year amortization schedule through a CMBS lender. The non-recourse debt was used to pay off existing recourse bank debt.
Southeast
ROCKVILLE, MD. — Matan Cos. has acquired the 220,539-square-foot Rockville Corporate Center, a two-building office property located at 15 and 45 W. Gude Dr. in Rockville, for $54.2 million. Both buildings are fully leased. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller in the transaction.
TAMPA, FLA. — IPA has arranged the $14 million sale of the 216-unit Lakes of Northdale, a Class B multifamily property located at 16297 Northdale Oaks Dr. in Tampa. Amenities include a clubhouse with WiFi, resort-style swimming pool with spa, a resident business center, redwood saunas, laundry facilities and 70 carports. Jamie May of IPA represented Sentinel Real Estate Corp., the seller, in the transaction. Robbins Property Associates was the buyer.
ATLANTA — MAA has purchased the 230-unit Allure in Buckhead Village, a mid-rise multifamily apartment community located at 360 Pharr Rd. in Atlanta. Amenities include a resort-style swimming pool with a sun deck, fitness center and outdoor kitchen. The buyer plans a complete renovation of the apartment unit interiors with upgrades, including stainless steel appliances, new counter tops and enhanced lighting and plumbing fixtures.
ATLANTA — Walker & Dunlop has arranged $18.7 million in Fannie Mae financing for the 336-unit Calibre Springs, a garden-style apartment complex located at 800 Lake Placid Dr. NE in Atlanta's Sandy Springs submarket, on behalf of Sterling Trust. Phil Davis of Colliers International originated the 5-year loan, which has 5 years of interest-only payments. Charlie Mentzer led the Walker & Dunlop team.
MIAMI — Aztec Group has arranged a $7.02 million permanent loan for the 63,480-square-foot Winn-Dixie, located at 3275 Coral Way in Miami. Jason Shapiro and Jim Fried of Aztec Group arranged the 10-year, non-recourse loan through a local bank. The store recently underwent a $6 million renovation, which included upgrading the property's exterior facade, expanding and improving the deli, seafood and produce departments and adding more freshly-made food options.
GAITHERSBURG, MD. — Jones Lang LaSalle has arranged the $30 million sale of an eight-building industrial portfolio, located in Montgomery County Airpark in Gaithersburg. The buildings total 285,000 square feet and are approximately 75 percent leased. Tenants include M&T Bank, Ferguson and Cianbro. Jones Lang LaSalle's Washington, D.C., office represented the sellers, Zarpas 1 through 5 LPs., in the transaction. The buyer was a partnership led by Potomac, Md,-based Willco Cos. BB&T Bank provided acquisition financing.
SUMMERVILLE, S.C. — ARA has negotiated the $18.5 million sale of the 232-unit Tradition at Summerville, an apartment complex located at 325 Marymeade Dr. in Summerville. Amenities include a resort-style pool, cardio-fitness center and 16-seat theater. The property is 93 percent leased. Blake Oakland and Dean Smith of ARA's Charlotte, N.C., office represented Schrimsher Properties, the seller, in the transaction. Nashville, Tenn.-based Carter-Hanson Real Estate Services was the buyer.
NASHVILLE, TENN. — Southeast Ventures has completed the second phase of HealthSpring's 175,000-square-foot MetroCenter campus, located at 500 and 530 Great Circle Rd. in Nashville. The two office buildings will serve as HealthSpring's primary location for more than 1,050 of the company's 3,600 employees. Southeast Ventures developed and owns the building. Highlights of the buildings include wrap-around windows to provide ample natural lights, a landscaped outdoor courtyard with sunken seating, multiple dining areas and training and conference rooms.
WEST PALM BEACH, FLA. — A 50,000-square-foot office/warehouse property, which includes a showroom for a building supply store located at 713-715 25th St. in West Palm Beach, has sold for $2.8 million. Bill Reichel and Ken Duke of Reichel Realty & Investments represented the seller, Lainhart & Potter, in the REO transaction. Marjam Supply Co. was the buyer.