LAWRENCEVILLE, GA. — Atlanta-based Carroll Organization has purchased the 222-unit Carrington Place Apartments, located at 156 Bethesda Church Rd. in Lawrenceville, from Atlanta-based Davis Development for an undisclosed price. Colliers International represented the seller in the transaction.
Southeast
CHARLESTON, S.C. — Chaleston-based One Eleven Partners has brokered the sale of the 200-unit Ashley Crossing Apartments, located at 2235 Ashley Crossing Dr. in Charleston. Chris Yeagle of One Eleven represented the seller, GS Ashley Crossing, in the transaction.
HANOVER, MD. — DTLR has signed a 139,690-square-foot lease for a warehouse facility, located at 7458 Candlewood Rd. in Hanover. DTLR is consolidating its office and warehouse operations at the property. Ben Meisels, Matt Larraway and Mike Elardo of Cushman & Wakefield's Baltimore office represented First Potomac Realty Trust, the landlord, in the lease transaction. Mike Roden and John Wilhide of CB Richard Ellis' Baltimore office represented the tenant.
COLUMBUS, GA. — The U.S. Department of Housing and Urban Development has committed to insure a $210 million mortgage loan to the 376-bed St. Francis Hospital, a hospital and 60-bed assisted living facility located at 2122 Manchester Expressway in Columbus. The loan, which is being provided through FHA's Section 242 Hospital Mortgage Insurance Program, will be used to renovate a portion of the existing facility, construct a new patient tower and medical office building, purchase new equipment and refinance a $50 million debt.
DOUGLASVILLE, GA. — Marcus & Millichap has arranged the $32.8 million sale of a 352,073-square-foot Wal-Mart Supercenter and Sam's Club, located at 7001 Concourse Pkwy. in Douglasville. Craig Johnson of Marcus & Millichap's Atlanta office represented the seller, a California-based investor, and procured the buyer, a private REIT. The base triple-net lease term for the buildings goes through November 2019 with six 5-year options.
MELBOURNE, FLA. — CB Richard Ellis has negotiated the $17.34 million sale of the 378-unit the Harbours, located at 1032 Hidden Harbour Dr. in Melbourne. The Harbours contains two properties, Harbour and Hidden Harbour, both of which were 93 percent occupied at closing. Shelton Granade and Luke Wichkham of CB Richard Ellis' Orlando, Fla., office represented the seller, AIMCO, in the transaction. White Eagle Investment was the buyer.
PEACHTREE CITY, GA. — Atlanta-based Hodges Ward Elliott has arranged the sale of the 51-room Best Western Peachtree Inn & Suites, located at 976 Crosstown Rd. in Peachtree City. Anthony Falor and William Shiver with Hodges Ward Elliott's Select Service Division represented Atlas GA II SPE, the seller, in the all-case transaction. Coldwell Banker Metro Brokers represented the buyer, JDH Developers — World Debt Acquisitions.
NEW ORLEANS — Canyon Capital Realty Advisors has provided a $22.8 million senior leasehold bridge loan to HRI Lodging and Carey Watermark Investors for the reposition and reflagging of the 251-room Chateau Bourbon Hotel, located at 800 Iberville St. in New Orleans. Renovations will include a new lobby, open lounge and dining area, as well as a complete redesign for guest rooms. Upon completion the hotel will be reflagged under the Hyatt brand. Completion is slated for the summer of 2012.
WASHINGTON, D.C. — Donatelli Development has sold the 190-unit The Ellington Apartments, located at 1301 U St. NW. in Washington, D.C., to TIAA-CREF for $100 million. The seven-story apartment building also has 17,000 square feet of retail space on the ground floor, which is leased to six tenants. Donald B. Tennant, Jr., of NorthMarq's Bethesda, Md., office represented the seller in the transaction. Ed McEnery and Doug Smith of Deepwater Advisors represented the buyer.
DURHAM, N.C. — Fidelity Investments has purchased Nortel's former Research Triangle Park campus, the 676,000-square-foot Network Center, located at 4004 Nelson Chapel Hill Hwy. in Durham, for $34.3 million. Andrew Kelton and Ed Pulliam of CB Richard Ellis' Raleigh, N.C., office represented the seller, and John Linderman of Grubb & Ellis/Thomas Linderman Graham represented the buyer. Fidelity plans to consolidate its Research Triangle Park and Raleigh operations into one campus.