BOWLING GREEN, KY. — Birmingham, Ala.-based Medical Properties Trust has entered into a definitive agreement to sell the real estate assets of three inpatient rehabilitation facilities to Vibra Healthcare, for $90 million. The properties are currently operated by Vibra, and are located in Bowling Green, Marlton, N.J., and Fresno, Calif. Medical Properties Trust expects to acquire at least $200 million in hospital real estate assets this year.
Southeast
FORESTVILLE, MD. — A subsidiary of FCP Fund I, has purchased Park Berkshire Apartments, a 598-unit garden-style apartment community in Forestville, for an undisclosed amount. The property consists of 22 three-story buildings situated on 21 acres. The complex is in close proximity to Washington Capitol Beltway and the Suitland Metro Station. Plans for a $14 million renovation are underway.
BOCA RATON, FLA. — REM Management has acquired 7800 Congress Centre, a 40,720-square-foot, Class A office building in Boca Raton, from 7800 Congress LC, for $8.5 million. The property is 61 percent occupied by URS Corp. Scott O’Donnell and Dominic Montazemi of CB Richard Ellis’ Boca Raton office were the sole brokers and exclusively represented the seller.
POLK COUNTY, FLA. — Cuhaci & Peterson Architects is designing two retail centers in Polk County, for Charlotte-based Crosland Co. and A.G. Armstrong, respectively. Crosland Co. is developing a 60,000-square-foot center, featuring a 40,000-square-foot Sweetbay supermarket, at the intersection of Highway 27 and State Route 547. A.G. Armstrong is developing Phase 2 of the Shoppes on the Ridge, which consists of a 40,000-square-foot addition. The property is located at the intersection of Highway 27 and Chalet Suzanne Road.
ALTAMONTE SPRINGS, FLA. — Camden Renaissance, a 578-unit, 23-building multifamily complex in Alamonte Springs, is undergoing a $7.6 million renovation. Construction began in February and is projected for completion summer 2009. Orlando-based Leffler & Heaney is the general contractor.
BUTNER, N.C. — John Nelley and Al Buckley, partners with Nashville, Tenn.-based NWI Limited Partnership, are developing Falls Lake Commerce Center, a 300-acre master-planned business campus in Butner. The property will feature more than 4 million square feet of industrial and retail development. The first phase, Falls Lake II, includes a 150,800-square-foot distribution facility scheduled for completion in September. Site development is also underway for two speculative facilities, totaling 190,000 square feet. The development will offer land parcels, build-to-suits and 50 acres allotted for large box retail. Colliers Pinkard’s Raleigh, N.C., office is marketing the property, located 6 miles from Durham near Interstate 85.
WEST PALM BEACH, FLA. — West Palm Beach-based Lorelle Enterprises has acquired a 92,640-square-foot office warehouse complex in West Palm Beach from, Aspen Florida Mango, for $6.2 million. The property is located at 1600 N. Florida Mango Rd. The buyer plans to convert half the building into an ice skating rink; the remaining space will be occupied by long-term lessee Goodman Distribution. Robert Smith of CB Richard Ellis’ Boca Raton, Fla., office and Kerry Jackson of its Palm Beach Gardens, Fla., office represented the seller.
COLUMBIA, S.C. — Leesburg Village-Columbia, a Georgia limited liability company, has purchased Leesburg Village Shopping Center, a 50,574-square-foot, 6-acre center in Columbia, from Leesburg Village LLC, for $3 million. The property is anchored by a 35,560-square-foot Food Lion, and is located at 2900 Leesburg Rd. Victor John of Columbia-based NAI Avant brokered the transaction.
CHARLOTTE, N.C. — Atlanta-based VP Charlotte LLC has acquired Stonewall Jackson Apartment Homes, a 85-unit, 14-acre multifamily community in Charlotte, from ARC Realty, for $3 million. The complex features 12 one-bedroom, 52 two-bedroom and 21 three-bedroom units. The property is located at 5751 Airport Dr., and was 97 percent occupied at the time of sale. Jim Juhl of Sperry Van Ness’ Cornelius, N.C., office represented the seller, and the buyer was represented by Southern Commercial Real Estate.
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