COLUMBIA AND NORTH BETHESDA, MD. — KeyBank Real Estate Capital has secured two loans worth $33.8 million for apartment complexes in Columbia and North Bethesda. UDR Maryland Properties received a $20 million loan for its 178-unit Tamar Meadow Apartments in Columbia. KeyBank also arranged a $13.8 million loan for Wisconsin Park Associates’ 549-unit Grand Apartments, a Class A complex in North Bethesda. Both loans were financed by Fannie Mae.
Southeast
HUNT VALLEY, MD. — Pharmaceutics International has purchased a 72,200-square-foot warehouse from First Industrial Realty Trust for an undisclosed amount. The property, located at 10947 Golden West Rd. in Hunt Valley, features 25,000 square feet of office space. Richard F. Blue, Jr., and Paul F. Obrecht, III, of Timonium, Md.–based Blue & Obrecht Realty represented the seller. Gail Chrzan of CB Richard Ellis’ Baltimore office represented the buyer.
CHARLESTON, S.C. — Shoreline Partners II has sold a 50,000-square-foot warehouse to Charleston Regional Investments for $7.35 million. The warehouse is located at 2325 Charleston Regional Parkway in Charleston. Milton Thomas, III, of Charleston-based Anchor Commercial Real Estate Services represented the seller. The local firm Norvell Real Estate Group represented the buyer.
ATLANTA — Atlanta-based Post Properties has sold its 206-unit Post Lenox Park apartment complex to Steven D. Bell & Co. of Greensboro, N.C., for $22.7 million. The property, which was built in 1995, is located at 100 Lenox Park Circle in Atlanta. With the sale, Post is expected to report a gain of $12 million.
ST. AUGUSTINE, FLA., AND AUGUSTA, GA. — Orlando-based D&D Construction Services is expected to complete vertical construction on two 82-room Fairfield Inn & Suites hotels this month. The properties, which are being developed by State College, Pa.-based Shaner Hotels, are located in St. Augustine and Augusta. Both hotels feature meeting space and an outdoor pool and spa. The three-story St. Augustine hotel is slated for delivery in May, and the four-story Augusta hotel will be completed in July.
TAMPA AND OCALA, FLA. — A California-based realty firm has purchased two Florida facilities from U-Store-It for a combined $5.06 million. The 60,900-square-foot U-Store-It Tampa sold for $2.81 million, and the 42,091-square-foot U-Store-It Ocala sold for $2.25 million. Michael A. Mele and Chico LeClaire of Marcus & Millichap’s Tampa and Denver offices, respectively, represented both parties in the transaction.
NASHVILLE, TENN. — Principal Real Estate Investors has sold a two-building office property spanning 40,897 square feet to 60 MSE, GP, for $4.85 million. The offices are located at 54-60 Music Square East in Nashville. Colliers Turley Martin Tucker – Nashville’s Crews Johnston, Perry Gooch, Rob Lowe and Whit McCrary brokered the sale. Thomas McDainel of Boyle Nashville represented the buyer.
MIAMI — Noam Kaminetzky of Meridian Capital Group’s Boca Raton, Fla., office has secured $4.35 million in financing for a 143,000-square-foot Miami office building. The 14-story property is located on Biscayne Boulevard. The 9-year loan comes with a 6.75 percent interest rate.
GAINESVILLE, FLA. — Longwood, Fla.-based Bentley Architects + Engineers has entered the design phase for the 177,317-square-foot Eastside Operations Center for Gainesville Regional Utilities. The $50 million Gainesville property, which is slated for completion in December 2010, will house some of the utility company’s administration and maintenance operations. The property will be built to Silver LEED standards by Orlando, Fla.-based Skanska.
EVANS, GA. — Crosland has begun construction on the 100,000-square-foot Riverwood Town Center in a joint venture project between the company and Meybohm Commercial Properties of Augusta, Ga. The center will serve as the retail side of the master-planned Riverwood Plantation golf community. Located at the intersection of Washington Road and William Few Parkway in Evans, the retail space is anchored by a 45,600-square-foot Publix. The grocery store, which will be joined by an 11,745-square-foot CVS/pharmacy, will open this fall. A bank, restaurants and service-oriented retailers are being targeted for the remaining space.