NASHVILLE, TENN., AND RALEIGH, N.C. — Charlotte, N.C.-based Grandbridge Real Estate Capital has funded a $96.8 million multifamily portfolio, inclusive of one property in Nashville and three properties in Raleigh, on behalf of New Dawn Companies, through its relationship with Freddie Mac. In Nashville, Lexington Apartments, a 598-unit, Class A complex, was funded at $45 million for a 7-year term. In Raleigh, Bridgeport Apartments, a 276-unit, 17-acre garden-style complex, was funded at $18.7 million for a 5-year term; Sailboat Apartments, a 192-unit, 17-acre property, was funded at $9.8 million for a 7-year term; and Duraleigh Woods Apartments, a 362-unit complex, was funded at $23 million for a 5-year term.
SPARTANBURG, S.C. — Revitalization Associates, a subsidiary of Johnson Development Associates, has opened Library Commons, a $7 million, 83,600-square-foot luxury condominium building in downtown Spartanburg, located at 155 East Broad St. The building features 48 one- and two-bedroom residences, ranging from 742 to 1,278 square feet, as well as street-level retail and office space. The project architect was Greenville, S.C.-based Allora. Construction began last April and completed this month.
GREENVILLE, S.C. — An undisclosed buyer has purchased Crosspointe Plaza, a 72,978-square-foot shopping center in Greenville, from an affiliate of Harbor Group International, for an undisclosed amount. The center is situated on 5.6 acres near the Greenville-Spartanburg International Airport. Tenants include Circuit City and Jason’s Deli. Kris Cooper and Margaret Caldwell of Jones Lang LaSalle’s Atlanta office represented the buyer.
SANFORD, FLA. — Lake Mary, Fla.-based Lexington Plaza LLC is developing Lexington Plaza, a $4.8 million, 18,000-square-foot retail center in Sanford, near the intersection of State Road 46 and Mangoustine Road behind Central Florida Regional Hospital. Construction will begin this month and complete in the fall. Stirling International Realty’s Commercial Group is the exclusive leasing agent.
ORLANDO, FLA. — Charlotte, N.C.-based Pavilion TK-Orange Ave. LLC has purchased a 3,800-square foot retail building in Orlando, from Michael Crisante, for $1.4 million. The property is situated on a .38-acre site at 2100 South Orange Ave. Kevin O’Connor and Matt Cichocki of NAI Realvest represented the buyer in the sales transaction. The facility will be renovated for a Tire Kingdom.
AVENTURA, FLA. — Starwood Hotels & Resorts Worldwide is breaking ground on aloft Aventura Hotel, a $50 million property that will be developed and owned by joint venture partners Cabi Aventura Hotel, a subsidiary of Mexico-based GICSA, and Aventura Development. The hotel will feature 215 rooms and 5,000 square feet of meeting space. The property is located at 2777 N.E. 185th Street, near South Beach and the Miami International Airport. Construction is slated to complete next fall.
CHARLOTTE, N.C. — SNS Hospitality has purchased Country Inn & Suites Charlotte, a 100-room hotel located in the University City area of Charlotte, from Philadelphia-based GF Management, for an undisclosed amount. The property features an indoor/outdoor swimming pool and 31 one-bedroom suites. Ros Mallory of Jones Lang LaSalle’s Charlotte office and Mark Fair and Al Calhoun of its Atlanta office were the sole brokers in the transaction and exclusively represented the seller.
MIAMI BEACH, FLA. — A private Italian investor has acquired a 19-unit apartment building in Miami Beach, from Robert Cristoph, for $3.2 million. The property is located at 1450 Meridian Ave. and features 14 one-bedroom units, three two-bedroom units and two studios. Arthur Porosoff and Gregory Celentano of Marcus & Millichap’s Miami office represented both the buyer and the seller.
SUWANEE, GA. — 3dh Communications has purchased a 21,762-square-foot, single-story office building in Suwanee, from BRJ Real Estate Management, for $2.7 million. The property is located at 800 Satellite Blvd. 3dh is a video technology company. Rob Binion and Bobby Mason of Lavista Associates represented the seller, and the buyer was represented by Bo Keatley at NAI Brannon Goddard.
CHELSEA, ALA. — Grubb & Ellis Realty Investors has acquired a 14,800-square-foot Walgreens building in Chelsea on behalf of a private investor, from Chelsea Corners LLC, for an undisclosed amount. The property is situated on 1.7 acres of land at 164468 Block US Highway 280 and is 100 percent leased to Walgreens. Grubb & Ellis Realty Investors represented the buyer, and the seller was represented by Lior Regenstreif of Marcus & Millichap’s Encino, Calif., office.