KISSIMMEE, FLA. — The 475-room Best Western Lakeside Hotel, located at 7769 W. Irlo Bronson Hwy. in Kissimmee, will undergo a multi-million dollar renovation to become the Maingate Lakeside Resort, an independent hotel. Richfield Hospitality will oversee the renovations, which will include upgrades to hotel rooms and public spaces. Hotel amenities include five pools, exercise facilities, arcade and on-site miniature golf course.
BETHESDA, MD. — Love Funding has arranged a $60.6 million construction loan for the 200-unit Bainbridge Bethesda, an apartment building in Bethesda. Holly Bray of Love Funding's Washington, D.C., office secured the loan through the Federal Housing Administration's 221(d)(4) loan program. The property will be built to meet LEED Silver certified standards.
NEWPORT NEWS, PORTSMOUTH, RICHMOND & NORFOLK, VA. — JenCare Neighborhood Medical Centers has signed three leases and acquired two buildings in Virginia. The company closed on: – A lease for 10,000 square feet at NewMarket Shopping Center in Newport News – A lease for 5,700 square feet at 3960 Turnpike Rd. in Portsmouth – A lease for 7,144 square feet at the Glen Lea Shopping Center in Richmond – The purchase of an 11,867-square-foot property at 1712 E. Broad St. in Richmond – The purchase of a 16,000-square-foot building located at 549 E. Brambleton Ave. in Norfolk Krista Costa and Levi Thomson of Divaris Real Estate's Virginia Beach, Va., office represented JenCare in lease negotiations in Newport News and Portsmouth, and the sale transaction in Norfolk. Brett McNamee and Debbie Wake of Divaris' Richmond office represented JenCare in both Richmond transactions.
LAVERGNE, TENN. — Charlotte, N.C.-based TPT has sold an 8,990-square-foot, single-tenant industrial building, located at 140 Charter Pl. in LaVergne, to Charter Place Partners for $1.2 million. J.P. Lowe of Nashville, Tenn.-based Chas. Hawkins Co./CORFAC International and Scott Hensley of Charlotte-based Piedmont Properties/CORFAC International represented the seller in the transaction.
WASHINGTON, D.C. — Marcus & Millichap has arranged the $30.75 million sale of the 204-unit The Rittenhouse, an apartment complex located at 6101 16th St. NW. in Washington, D.C. Ari Firoozabadi of Marcus & Millichap's Washington, D.C., office represented Peter N.G. Schwartz Management Co., the seller, and ROSS Cos. represented Henderson Global Investors, the buyer, in the transaction.
MIAMI — Coconut Creek, Fla.-based Butters Construction & Development has been selected by New York-based fund KTR Capital Partners to construct a 500,000-square-foot, multi-phased industrial project in the Pam Am West Industrial Business Park in Miami. The development will contain institutional-grade distribution and warehouse facilities.
MIAMI — Franklin Street Real Estate Services has arranged the $3.9 million sale of a 122,000-square-foot warehouse, located at 5701-5703 NW 35th Ave. in Miami. Joel Kattan and Hernan Prohaszka of Franklin Street's Fort Lauderdale, Fla., office represented Solomon-Kalback South Building, LLC, the seller. The buyer was Galei Opa, a local company which will relocate its manufacturing operations to the facility.
GLEN ALLEN, VA. — Cushman & Wakefield — Thalhimer has negotiated the $1.67 million sale of a 13,387-square-foot office condominium in Dominion Place, located at 4300 Dominion Blvd. in Glen Allen. Austin Newman of Cushman & Wakefield Thalhimer's Richmond, Va., office represented Highwoods Services. Southern Baptist Conservatives of Virginia purchased the property, which will serve as the company's headquarters location.
KINSTON, N.C. — The Mumford Co. has negotiated the sale of the 122-unit Hampton Inn in Kinston to LRP Hotels of Carolina. The facility will undergo extensive renovations and continue to operate as a Hampton Inn. Ed James of Mumford Co.'s Newport News, Va., office and Steve Kirby of the firm's Atlanta office represented Neuse Hospitality, the seller, in the transaction.
JACKSONVILLE, FLA. — Hokanson Cos. and U.S. Federal Properties Co. have broken ground for the $56 million, 135,000-square-foot VA Jacksonville Outpatient Clinic, to be located near the Shands Jacksonville Hospital in Jacksonville. The facility will offer expanded medical services for women, primary care, radiology, two outpatient operating rooms and six endoscopy suites. Completion is slated for 2012.