LITTLE ROCK, ARK. — NorthMarq Capital has arranged $14.12 million in acquisition financing for the 256-unit Forest Place, a multifamily property located at 1421 N. University Pl. in Little Rock. David Farrell of NorthMarq's Kansas City, Kan., office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.
Southeast
RALEIGH, N.C. — Federal Capital Partners and Kane Realty Corp. have formed a joint venture to build the $53 million, 400-unit Ramblewood Apartments, a luxury complex located in North Hills, a mixed-use development in Raleigh. Amenities will include a pool, fitness center, business center, outdoor terrace, community room and green spaces. Construction is slated to begin in the third quarter of 2012.
COLUMBIA, S.C. — The 220-unit Tamarind at Stoneridge Apartments, located at 143 Stoneridge Dr. in Columbia, has sold for $10 million. Amenities include a swimming pool, tennis courts and a fitness center. Jim Sewell and Steve Mack of Hilton Head, S.C.-based Coastal Apartment Advisors represented Tamarind Hollows, the seller, in the transaction. The buyer was CRESOF Tamarind.
PANAMA CITY, FLA. —The U.S. Army Corps. of Engineers has plans to build a $7.5 million, 22,600-square-foot U.S. Army Reserve Center, located on Highway 77 in Panama City. The building will include 18,000 square feet of administrative space and a 4,600-square-foot maintenance facility. Charlie Haas and Jim Everitt of Counts Real Estate Group represented both James Maulden and Gary Seymour, the land sellers, in the transaction, and the U.S. Army Corps. of Engineers.
ORLANDO, FLA. — The 147,389-square-foot Silver Star Logistics Center, a manufacturing and logistics building located at 1900 W. New Hampshire St. in Orlando, has sold for $3.5 million. The property includes 6,820 square feet of office space, 28-foot clear ceiling heights, rail-spur service, covered loading docks and parking for more than 30 trailers. Joe Rossi of Lincoln Property Co. represented the seller in the transaction.
WASHINGTON, D.C. — NorthMarq Capital has arranged $15.45 million in first mortgage refinancing for the 398-unit Vista Ridge Apartments, an affordable housing community located in Washington, D.C. Melissa Marcolini Quinn and Robert Rothaug of NorthMarq's Orlando, Fla., office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac.
ATLANTA — The 312-unit Axis at Perimeter, a Class AA apartment community located at 8 Perimeter Center E. in Atlanta, has sold for $53.5 million, according to DeKalb County records. Amenities include a resort-style pool with cabanas and an outdoor living room with fire pit. The property is 94 percent leased. Derrick Bloom, David Gutting and Elliot Howell of Jones Lang LaSalle represented Lane Co., the seller, in the transaction.
LAKELAND, FLA. — Twenty-five shopping centers, located in Florida, have sold for $50 million. The properties, which averaged 10 to 14 percent NOI's and were 70 to 100 percent leased, were auctioned by Lakeland-based Higgenbotham. More than 60 bidders participated online through HAI's online bidding platform.
WASHINGTON, D.C. — Boston-based EVL Associates has purchased a 91,312-square-foot office building, located at 1776 Massachusetts Ave. NW in Washington, D.C., for $45.5 million. The property is 96 percent leased to tenants that include Boston University, the Brookings Institution and Johns Hopkins University. Paul Hanafin and Richard Siegel of West, Lane & Schlager Realty Advisors represented the seller, 1776 Mass Ave LLC, managed by New York-based JOSS Realty Partners, in the transaction.
DELRAY BEACH, FLA. — Wood Partners has plans to break ground in July on the $26.9 million, 116-unit Midtown Delray, an apartment complex located at 4200 Old Germantown Rd. in Delray Beach. Completion is slated for September 2013. Amenities will include a clubhouse, swimming pool and tot lot. Current Builders is the general contractor for the project, AW Architects is the architect, Michael B. Schorah & Associates is the civil engineers and Urban Design Kilday Studios will design the landscape.