Southeast

CHATTANOOGA, TENN. — Trade Street Capital has purchased Lakeshore on The Hill Apartments in Chattanooga. The 123-unit property offers a clubhouse with a fitness center and a resort-style swimming pool. The acquisition was funded by a Trade Street Capital fund, with financing arranged by CW Capital. The acquisition price was not released.

JACKSONVILLE, FLA. — Louisville, Colo.-based Condo Capital Solutions has purchased Old San Jose on the River, a residential riverfront community near Jacksonville's historic San Marco district. The property currently has three completed buildings, including a five-story, 18-unit condominium building on the St. Johns River, a four-unit condominium residence and three townhome residences. Condo Capital has retained Jacksonville-based McGarvey Residential Communities, the property's original developer, to serve as the development manager for the community. The acquisition price was not disclosed.

FAIRFAX, VA. — NorthMarq Capital has arranged $25 million in first mortgage financing for an unsubordinated ground lease located at 8301 Anderson Dr. in Fairfax. The 34.63-acre site is occupied by the 752-unit Amberleigh Apartments. Financing was based on a 25-year term with a 5-year interest-only amortization, then based on a 30-year amortization schedule. Jeffrey Robertson of NorthMarq's Miami office arranged the financing for the borrower through NorthMarq's relationship with New York Life Insurance Co.

MADISON, ALA. — Greensboro, N.C.-based Bells Partner LLC and Wachovia Bank (Wells Fargo) have completed the disposition of Carrington Cover Apartments in Madison. Built in 1985, the property offers 514 units in a mix of one-, two- and three-bedroom floorplans. New York-based Rohdie Group purchased the property, which offers 540,000 rentable square feet, for $28.42 million.

WASHINGTON, D.C. — The Peterson Companies and The Bozzuto Group have partnered to develop a multifamily community at National Harbor, a 300-acre, mixed-use development in Washington, D.C. Located at the intersection of American Way and Fleet Street, the property will offer approximately 35o residences and 25,000 square feet of street-level retail space. Community amenities will include a pool, a fitness center, a cyber cafe and billiards/gaming room, a media room and a Zen garden. Construction is expected to begin in fall 2011, with completion scheduled for 2013.

ARLINGTON, VA. — JAIR LYNCH Development Partners and MacFarlane Partners have acquired Abingdon House Apartments for an undisclosed price. Located at 815 18th St. in the Pentagon City area of Arlington, the mid-rise property offers 82 apartment units. Christopher Doerr and Rachel Ley of Grubb & Ellis represented the seller, The Brick Companies, in the transaction.