ROCK HILL, S.C. — Atlanta-based Halpern Enterprises has acquired the 50,000-square-foot Rock Hill Crossing, located at 4875 Old York Rd. in Rock Hill, from Bright-Meyers Rock Hill LP. for $8.07 million. The center is fully leased, and tenants include Dollar Tree, GNC, Verizon, T-Mobile, Shoe Show and Sports Clips. Zach Taylor and Don McMinn of Marcus & Millichap's Atlanta office represented the seller in the all-cash transaction. The buyer was self-represented.
HICKORY, N.C. — Capstone Apartment Partners has arranged the $2.22 million sale of the 97-unit Colonial House Apartments, a garden-style apartment complex located at 818 2nd St. Pl. NE in Hickory. The buyer has plans to renovate the property, including amenity upgrades and interior unit renovations. Brian Ford and Beau McIntosh of Capstone's Charlotte office represented Simaan Brothers, the seller, in the transaction.
CHARLOTTE, N.C. — Grandbridge Real Estate Capital has arranged $21.6 million in first mortgage financing for the 214-unit Morrison at SouthPark, a Class A multifamily property located at 721 Governor Morrison St. in Charlotte. Mike Ortlip of Grandbridge's Charlotte office arranged the acquisition loan through a major insurance company.
PLANT CITY, PORT ORANGE AND DELAND, FLA. — A 900-unit multifamily portfolio, containing four properties located in central Florida, has sold for $50 million according to property records. The properties include the 352-unit Hunter's Ridge at Walden Lake in Plant City; the 168-unit Mallards of Brandywine in DeLand; and the 208-unit Pierpoint and the 172-unit The Groves in Port Orange. Cole Whitaker and Hal Warren of Hendricks & Partners' Orlando, Fla., office represented Colorado-based UDR, the seller, in the transaction. The buyer was a private investment firm.
POOLER, GA. — A joint venture between Atlanta-based Cortland Partners and Atlanta-based Batson-Cook Development Co. has started construction on the $35 million, 325-unit Two Addison Place, an apartment complex located on 1200 block of Pine Barren Road in Pooler, a submarket of Savannah. Community and Southern Bank, NXT Capital and Kaufman Realty Group provided funding for the project, which is slated for completion in early 2013.
MURFREESBORO, TENN. — Panther Properties Investment and Integra Land Co. have broken ground on the $27.5 million, 264-unit Integra Creek Apartments, a Class A apartment community located on the Manson Pike in Murfreesboro. The nine-building property will include amenities such as a swimming pool, fitness center, billiards room and business center. The first units are scheduled to be completed in the first quarter of 2013, with full completion slated for the third quarter of 2013.
FLOWERY BRANCH, GA. — NorthMarq Capital has arranged $30 million in first mortgage refinancing for the 456-unit Tree Park Apartments, an apartment complex located at 130 Tree Park Cir. in Flowery Branch. Bruce Foster of NorthMarq's Atlanta office arranged the 7-year loan with a 30-year amortization schedule through Freddie Mac on behalf of Tree Park LLC, the borrower.
VIRGINIA BEACH, VA. — Walker & Dunlop has arranged $21.6 million in refinancing for the 200-unit Magnolia Run Apartments, a garden-style apartment community located at 5697 Magnolia Run Cir. in Virginia Beach. Will Baker of Walker & Dunlop's Bethesda, Md., office arranged the 35-year, fully amortized loan through HUD's 223(f) program on behalf of the borrower, Magnolia Run Apartments LLC.
ATHENS, GA. — Orlando, Fla.-based Roger B. Kennedy Inc. has broken ground on the $13 million, 138-unit The Flats at Easley Mill, a student housing development located at 592 Oconee St. in Athens, close to the University of Georgia campus. Flats at Carrs Hill LP. is developing the property, which was designed by Atlanta-based Gary B. Coursey & Associates-Architects. Completion is slated for June 2013.
ATLANTA — A joint venture between Atlanta-based Noble Investments and an affiliate of Hyatt Hotels Corp. has broken ground on the $11.1 million, 149-room HYATT house Atlanta Cobb Galleria, located at 3625 Cumberland Blvd. in Atlanta. The hotel will be the first HYATT house in Atlanta, and will include amenities such as a pool, fitness center and dining space. Evergreen Construction is building the hotel, which was designed by Lawrenceville, Ga.-based Lindsay Pope Brayfield Clifford & Associates. Completion is slated for spring 2013.