BOCA RATON, FLA. — Colliers International has negotiated a 10,610-square-foot office headquarters lease for Nightingale, a registered nurse staffing company. The lease is for 89 months and costs $1.4 million. Nightingale is relocating to 7800 Congress Centre from 6401 Congress Ave., where it occupied 16,455 square feet. Bob Schneiderman of Colliers represented the tenant in the transaction.
DALLAS — PGIM Real Estate Finance has provided a $450 million first mortgage loan for a 140-building industrial portfolio primarily in the Southeast and Texas. The portfolio spans 57 projects within eight separate markets, with the largest concentration in Atlanta, Memphis, Tampa and Texas. Dallas-based PGIM provided the seven-year, fixed-rate loan to DRA Advisors, an office and industrial real estate investment firm with $10 billion of assets under management. The 9.8 million-square-foot portfolio had a combined 482 tenants at the time of the acquisition. The seller(s) was not disclosed. PGIM Real Estate Finance had financed the majority of the previous loans on the portfolio.
RALEIGH, N.C. — A joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners has purchased Park Point at Research Triangle Park, a 645,000-square-foot office park in Raleigh. The sales price was not disclosed, though the new owners plan to invest more than $100 million in renovating and repositioning the 95-acre park, which includes office, industrial and lab space, to offer creative office space. Indoor renovations include expanding ceiling heights between 19 and 24 feet and installing a concrete floor on an atrium. Plans to reposition the property include creating 300,000 square feet of indoor and outdoor gathering areas, athletic fields, walking trails, onsite food service, a fitness center and training and conference facilities. Redevelopment of the existing site will begin immediately, and tenants will be able to occupy their spaces as early as second-quarter 2020. William Allen of Trinity Partners will lead leasing efforts. CBRE|Raleigh’s Ben Kilgore, Patrick Gildea in CBRE’s Charlotte office and Will Yowell in the firm’s Atlanta office represented the seller, an affiliate of Zurich Alternative Asset Management, in the transaction.
TAMPA, FLA. — A joint venture between TruAmerica Multifamily and RSE Capital Partners has purchased a two-property, 454-unit apartment portfolio in Tampa for $63.8 million. The portfolio includes Twin Lakes and Runaway Bay, which were both built in the 1980s. Each community offers one- and two-bedroom floor plans situated in two-story residential buildings. The new owners plan to upgrade the interiors with higher end finishes. Plans also call for select exterior and common area upgrades that include new signage and paint, landscaping, a new outdoor kitchen and refreshing of the clubhouse, fitness center and pool areas. Patrick Dufour and Ryan Crowley of Newmark Knight Frank (NKF) represented the undisclosed seller in the transaction. Mitch Clarfield and Ryan Greer of NKF arranged a 10-year Freddie Mac acquisition loan on behalf of the buyers.
SOUTHAVEN, MISS. — Newmark Knight Frank (NKF) has arranged the sale of The Clare, a 352-unit multifamily community in Southaven. NKF also provided the buyer, ValCap Group, with a $25 million Freddie Mac acquisition loan. The Clare was constructed in 1997 and offers one-, two- and three-bedroom floor plans ranging from 723 to 1,120 square feet. Communal amenities include two swimming pools, a tennis court, volleyball court and a fitness center. The Clare, formerly known as Legacy at Church Lake, is situated at 5186 Church Lake Drive, 18 miles south of downtown Memphis. The seller was not disclosed. Blake Pera of NKF represented the buyer in the transaction. Adam Randall, John Meany and John Westby-Gibson of NKF placed the debt financing.
TAMPA, FLA. — RealOp Investments has acquired a 360,000-square-foot industrial building in Tampa for $16.5 million. The building is situated at 5210 S. 16th Ave., five miles from Port Tampa Bay and 14 miles from Tampa International Airport. The property is a front-loaded building that includes 27-foot clear heights, 237 parking spaces, 50 trailer drops and 34 loading dock doors. The building also has an active rail spur and nine rail doors. RealOp plans to renovate the property, including upgrading dock doors, installing LED lighting and new HVAC systems, enhancing the exterior and updating office suites. The seller was owner-occupant Southern Glazer’s Wine & Spirits.
JACKSONVILLE, FLA. — EJF Capital and Chance Partners will construct San Marco Crossing, a 486-unit multifamily community in Jacksonville’s San Marco neighborhood. The $86 million property is situated within an Opportunity Zone. Construction is expected to begin in the third quarter of this year with delivery slated for late 2020 or early 2021. Ameris Bank, with participation from Stifel Bank, is providing $51 million in construction financing. San Marco Crossing will be situated about three miles south of downtown Jacksonville. Jacksonville-based Oak Constructing will serve as the general contractor for the project.
DURHAM, N.C. — North Carolina Central University has chosen Corvias to develop two new student housing facilities totaling 1,247 beds and a 100,230-square-foot student center. The two residence halls will be called Chidley South and George Street. Both are being funded through a public-private partnership between the university and Corvias, and are expected to open in 2020. Vines Architecture is designing the residence halls in conjunction with the public-private partnership. Metcon is the general contractor. The $47 million student center is expected to be complete in 2021. Plans include a 1,750-seat auditorium and a 1,000-seat banquet hall, along with concessions and computer stations. O’Brien Atkins Associates, Duda | Paine Architects and MHTN Architects designed the student center. The general contractors are Balfour Beatty Construction, Holt Brothers Construction and Structure Building Co. Funds for the student center were generated by a $300 annual student fee approved by the student body in 2014.
NORTH CHARLESTON, S.C. — Big V Property Group has acquired Promenade at Northwoods, a 322,428-square-foot shopping center in North Charleston. Hobby Lobby, Gander Outdoors and Ollie’s Bargain Outlet anchor the center, which was 85 percent leased at the time of sale. Other tenants include Boot Barn, Party City, Crunch Fitness, Moe’s Southwest Grill, Landmark Financial and Once Upon a Child. Promenade at Northwoods is located off Interstate 26, across from Northwoods Mall and 15 miles north of downtown Charleston. The seller and sales price were not disclosed.
GREENSBORO, N.C. — McConnell Center Associates has sold a three-building industrial portfolio in Greensboro for $49.3 million. The buildings total 670,536 square feet and are located at 4751, 4755 and 4754 McConnell Center Drive within McConnell Center, a master-planned industrial park totaling more than 1 million square feet. The property is situated six miles east of downtown Greensboro and 20 miles from Piedmont Triad International Airport. New York Life Insurance Co. acquired the portfolio. Patrick Nally and Chris Norvell of HFF and Tom Townes and John Schultz of Triad Commercial represented the seller in the transaction.
