MIAMI — Optibase Real Estate Miami, a wholly owned subsidiary of an Israeli-based real estate investment firm, has acquired 21 luxury condominium units at Marquis Residences, located at 1100 Biscayne Blvd. in Miami. Leviev Boymelgreen Marquis Developers sold the condos for $8.6 million. Eddy Martinez of Miami-based Worldwide Development Services represented the buyer in the transaction.
SILVER SPRING, MD. — AREA Property Partners has acquired Fairland Gardens, a 400-unit apartment community in Silver Spring. Currently 96 percent occupied, the property offers one- and two-bedroom units, a clubhouse, a swimming pool, a basketball court, and grilling and picnic areas. AREA was selected Bethesda, Md.-based Realty Management Services, an affiliate of ROSS Companies, to manage the property. Additionally, AREA plans to renew the property's Housing Assistance Payments contract, which affects 25 percent of the units. The seller and acquisition price were not released.
ORLANDO, FLA. — Victory Health Care LLC has purchased one of the buildings of I-4 Commerce Center, which is located at 1800 33rd St. in Orlando. The 12,600-square-foot office building was sold for $1.95 million. The property will be occupied by Tender Touch Health Care, a Medicare-certified home health agency. Anderson Tiu of Keller Williams Classic Realty represented the buyer; Ray Romano of CB Richard Ellis represented the undisclosed seller in the transaction.
ANDERSON, S.C. — The Hampshire Companies, in a joint venture with MCB Real Estate, has acquired two retail properties totaling 43,139 square feet in Anderson. The properties are located within the North Hills Commons, a 333,149-square-foot shopping center. TIAA-CREF sold the properties for an undisclosed price. Mike Burkard of CB Richard Ellis represented the seller in the transaction.
TROY AND JACKSONVILLE, ALA.; STATESBORO, GA.; BOWLING GREEN AND MURRAY, KY,; CLEMSON, S.C.; AND MARTIN, TENN. — KeyBank Real Estate Capital has provided $61.8 million in financing for the acquisition of nine student housing properties across the Southeast. The funding was arranged on behalf of Kayne Anderson Real Estate Partners I, a private equity real estate fund managed by Kayne Anderson Capital Advisors. KeyBank arranged $58 million in Freddie Mac financing for eight properties, including Troy Place in Troy receiving $9.15 million; The Pointe at Southern in Statesboro receiving $8.94 million; Western Place in Bowling Green receiving $7.24 million; Gables Student Apartments in Bowling Green receiving $3.61 million; Chase at Murray receiving $5.13 million; Berkeley Place in Clemson receiving $9.88 million; Clemson Place in Clemson receiving $6.39 million; and Reserve at Martin in Martin receiving $7.63 million. Additionally, KeyBank provided a $3.85 million bridge loan for the acquisition and stabilization of a student housing project in Jacksonville, Ala.
ORLANDO, FLA. — Redmond, Wash.-based Univar USA Inc. has completed the disposition of a 12,897-square-foot office/warehouse building in Orlando. The property, which includes 2.8 acres, is located at 8120 and 8400 S. Orange Ave. Apex, N.C.-based PetroLiance Properties LLC bought the property, which includes 2,897 square feet of office space, for $875,000. Robert Blackwell and Sean DuPree of NAI Realvest represented the seller; Clemens Commercial Real Estate represented the buyer.
TAMPA, FLA. — An undisclosed Santa Monica, Calif.-based limited liability company has purchased River Gardens, a 218-unit apartment property located in Tampa, for an undisclosed price. Located at 4009 N. Howard Ave., the garden-style property was approximately 60 percent occupied at the time of closing. The community features a mix of one-, two- and three-bedroom units, three swimming pools, a private boat dock, laundry facilities and river views. Norman Eastwood and Tal Frydman of Marcus & Millichap represented the seller, an undisclosed Houston-based private investor. Additionally, Gene Berman assisted in the transaction.
HOLLY HILL, FLA. — Aztec Group has secured $45 million in acquisition financing and joint venture equity for the remaining 414 condominium units at Marina Grande on the Halifax. Marina Grande on the Halifax offers 486 units in twin 243-unit high-rise towers. The borrowers were The Swerdlow Group and Glenmont Capital Management. The non-recourse, first mortgage was funded by a New York-based lender. Additionally, Aztec secured an equity investment from a private equity fund. Ezra Katz, Howard Taft and Charles Penan of Aztec arranged the financing.
PASADENA, FLA. — Meridian Capital Group has secured a $15.75 million loan for the acquisition of Landmark at Waters Pointe, which is located at 1885 Shore Dr. South in Pasadena. The five-story multifamily property offers 198 apartment units. The 5-year loan features a fixed rate of 4.78 percent and requires interest-only payments for the first 2 years. Michael Brown and Brad Gladsden of Meridian's Florida office negotiated the transaction.
LOUDOUN COUNTY, VA. — McLean, Va.-based Miller & Smith and Japan-based SEKISUI HOUSE are developing One Loudoun, a mixed-use project in Loudoun County. The 358-acre master-planned community will feature 1,040 residential homes, 702,000 square feet of retail space, including restaurants, shopping, a luxury hotel and a movie theater, 3 million square feet of office space, a community center and an amphitheater. The community will be constructed in phases, including South Village, North Village, Downtown and the fourth section, which includes the community amenities. The South Village and North Village will be completed in 2014 and 2016, respectively, with pre-home sales beginning in the fall. The Downtown phase and community center will be completed in 2013. The project is designed by Torti Gallas and The Eisen Group in conjunction with Miller & Smith.