PORT ORANGE AND CASSELBERRY, FLA. — Walker & Dunlop has arranged $30.3 million in acquisition financing for the 296-unit Ocean Oaks Apartments, located at 1645 Dunlawton Ave. in Port Orange, and the 336-unit Reflections, located at 100 Reflections Cir. in Casselberry. Will Baker of Walker & Dunlop's Bethesda, Md., office arranged the 10-year loans with 4-years interest only, followed by a 30-year amortization schedule, through Freddie Mac's CME program.
SODDY DAISY, TENN. — Beech Street Capital has secured $3.36 million in acquisition financing for the 69-unit Blackberry Creek Apartments, located at 9516 Dayton Pike in Soddy Daisy. Chad Hagwood of Beech Street Capital's Birmingham, Ala., office arranged the 10-year loan with a 9.5-year yield maintenance payable on a 30-year amortization schedule through Freddie Mac's CME program.
ATLANTA — An Atlanta-based retail real estate services provider has expanded its reach to the northeast after merging with one of New York's top 10 retail brokerage firms. Northwest Atlantic Real Estate Services, best known as the Manhattan representative for Starbucks Coffee and Whole Foods, is joining The Shopping Center Group (TSCG), and will take the TSCG banner. The merger adds one office and 13 employees to TSCG. The firms decided to merge in order to broaden Northwest Atlantic's services into investment sales and landlord representation, and to give TSCG a foothold in the northeast, specifically New York. Headquartered in White Plains, N.Y., North Atlantic represents some of the strongest names in retail, including Costco and Staples. The firm completed more than half a million square feet of deals in the Northeast last year.
ATHENS, GA. — Caterpillar has selected a site near Athens to build a $200 million, 1 million-square-foot manufacturing facility. The property will be part of Caterpillar's Building Construction Products Division, which is based in Cary, N.C. Once fully operational, the facility will employ 1,400 people. Ground breaking is slated to occur in the first quarter of 2012, with initial production at the facility to begin in late 2013, ramping up to full production during a 5-year period.
GAINESVILLE, FLA. — St. Petersburg, Fla.-based Bessolo Design Group has been selected by Ohio-based Equity, Inc., to build an $11 million, 180-bed skilled nursing facility, located on Archer Rd. in Gainesville. Bessolo Design Group will provide architectural and engineering services for the 76,000-square-foot property, which will include private, semi-private and memory care suites.
MEMPHIS, TENN. — Greenville, S.C.-based RealtyLink has sold an 18,000-square-foot Staples, located at 2321 N. Germantown Pkwy. in Memphis, for $3.33 million. RealtyLink was self-represented by Tyson Glasser in the transaction. The buyer was a Texas-based institutional investment company.
WINCHESTER, KY. — Nashville, Tenn.-based Baker Storey McDonald Properties (BSM) has purchased the 53,989-square-foot Kroger Plaza, located at 1661 Bypass Rd. in Winchester. Prior to acquiring the center, BSM executed a 20,000-square-foot lease with Burke's Outlet, which is slated to open at the end of March. The property is 90 percent leased to tenants including Cato, The UPS Store, Papa John's, NovaCare and Hallmark. Brentwood, Tenn.-based First Southern Mortgage arranged financing on behalf of BSM through Protective Life Insurance Co.
CHARLOTTE, N.C. — Crosland Southeast has started construction on the 20,000-square-foot Blakeney Square, the final phase of the 600,000-square-foot Blakeney, a multi-use development located in Charlotte. Target and Harris Teeter anchor the original retail component, which is 300,000 square feet, and Best Buy and PetSmart anchor Blakeney Crossing, the second retail phase of the property. BB&T, Chick-fil-A and Firestone have each signed leases for freestanding stores, which are slated to open by the end of the year. Bank of America provided construction financing, Osborne Co. is the general contractor and W.D. Smith is working on grading/earthwork.
FAYETTEVILLE, N.C. — Crayton Commercial has completed the redevelopment of the 52,200-square-foot River Landing Shopping Center, located at the intersection of Ramsey Street and Law Road in Fayetteville. The repositioning included splitting a 43,200-square-foot former Kroger anchor space into four new spaces, redevelopment of the entire building facade to incorporate new storefronts, glass, doors, split-faced block, stucco and paint, addition of new rear loading pads and ramps, parking lot repair including repaving and restriping, all new site lighting, pylon signage and landscaping. Additionally, there was complete interior demolition and reconstruction including new HVAC, ceilings, lighting, framing/sheetrock, plumbing/restrooms and electrical systems.
MONROE, N.C. — Choate Construction Co. has been selected to construct a 99,500-square-foot addition to Greiner Bio-One N.A.'s manufacturing facility, located at 4238 Capital Dr. in Monroe. The addition will include a 15,000-square-foot mezzanine structure with executive office areas on the upper level and lab areas with a controlled environment below.