BIRMINGHAM, ALA. — PF Holdings has completed the sale of Sunrise Pointe, a multifamily property located at 7716 Sunrise Circle in Birmingham. Forge Partners acquired the property for an undisclosed price. Built in 1978, Sunrise Pointe features 344 apartments, immediate access to Interstate 20 and close proximity to retail and entertainment opportunities in the city’s Irondale and Crestwood submarkets. Josh Jacobs of Cushman & Wakefield represented the seller in the transaction.
ROME, GA. — Berry College has announced plans for The Spires at Berry College, a 48-acre continuing care retirement community (CCRC) on its campus in Rome, approximately 70 miles northwest of Atlanta. A groundbreaking is set for Oct. 19, with the first units opening in 2020. Although the number of units was not disclosed, the community will be able to house approximately 300 senior residents in a combination of apartments and cottages. The property is located along Eagle Lake at the foot of Lavender Mountain. Berry College’s full campus totals more than 27,000 acres and is home to more than 2,200 undergraduate and graduate students.
ST. PETERSBURG, FLA. — HREC has arranged the sale of St. Petersburg Marriott Clearwater. Menna Development & Management sold the Tampa Bay property for an undisclosed price. Located at 12600 Roosevelt Blvd. in Northeast St. Petersburg, the hotel features 209 guest rooms, 22,832 square feet of meeting space, a 1,600-square-foot fitness center and The Crafted Plate, a farm-fresh American restaurant. Scott Stephens and Jaimin Patel of HREC’s Tampa office represented the seller in the transaction.
CHARLOTTE, N.C. — Trez Forman Capital Group has provided $4.8 million in financing for a 390-unit, mixed-use community planned for development near the University of North Carolina at Charlotte campus. The borrower and developer of the planned multifamily property, Sanctuary Holdings NC, will use the loan proceeds to pay off existing debt on the property and to help fund the purchase of an additional 1.5 acres from Charlotte’s transportation department. The site — located at 7600 University City Blvd. — has already been approved for 390 multifamily or student housing units.
ATLANTA — CBRE has promoted Chris Bosworth and Will Pike to vice chairman, the highest-ranking title among CBRE producers. Based in the firm’s Atlanta office, Bosworth and Pike serve as partners and co-leaders of CBRE Net Lease Properties, a national practice that provides net lease investors with acquisition and disposition advisory services for single-tenant assets, national net lease portfolios and corporate sale-leasebacks. Over the course of their careers, Bosworth and Pike have executed more than $16 billion worth of assignments spanning more than 2,600 properties. Since 2016, the team has been responsible for the disposition of 720 properties with a value of over $8.2 billion. Bosworth joined the firm in 1999 and is a founding member of Net Lease Properties and the firm’s Corporate Capital Markets practice. Additionally, he is the first retail-focused capital markets professional in the firm’s history to be named vice chairman. Pike, who joined in 2004, is a founding member of Corporate Capital Markets, head of Retail-Occupier Capital Markets and currently serves on the board of CBRE’s Investment Properties and America Brokerage divisions. Pike is the third-youngest CBRE professional to earn the title of vice chairman.
DAYTONA BEACH, FLA. — Marcus & Millichap has arranged the sale of a two-property, 384-unit multifamily portfolio in Daytona Beach for a total of $37 million. Built in 1987, the 240-unit Lake Forest Apartments sold for $23.5 million, while the 144-unit Jade Park sold for $13.4 million. Situated side-by-side in a wooded lakeside setting, the communities are near the Daytona International Speedway, Volusia Square Mall, One Daytona and Daytona Beach International Airport. Michael Donaldson and Nicholas Meoli of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal.
ASPEN HILL, MD. — Pennrose has completed vertical construction of Pointe View at Aspen Hill, a 120-unit, mixed-income seniors housing community in Aspen Hill, located just north of Washington, D.C. Located on a nearly six-acre parcel, the development features 61 one-bedroom and 59 two-bedroom apartments. Harkins Builders is the general contractor, while Architecture by Design is the architect. The affordable, independent living community will be restricted to residents age 62 or older, with 108 units reserved for those making between 30 percent and 60 percent of area median income. The remaining 15 percent of units are designated as “very low income.” Pennrose has partnered with The Senior Connection to provide residents with transportation resources and programing to assist with daily living activities, such as managing bills or household paperwork. In addition, the development will be served by both the Montgomery County Transit Ride-On and WMATA bus lines and residents will be near to retail, healthcare resources and the county’s largest senior center.
WESLEY CHAPEL, FLA. — Westlake, Ohio-based Emerald Hospitality Associates has acquired and opened Hilton Garden Inn Tampa-Wesley Chapel, located at 26640 Silver Maple Parkway in Wesley Chapel. Emerald Hospitality Associates will manage the property, which it purchased in partnership with Nimbus Investment Fund, an independent affiliate of Emerald Hospitality. The hotel features 124 guestrooms each with a microwave and refrigerator, 3,712 square feet of flexible meeting space, and an extensive lobby and outdoor patio featuring the Garden Grille & Bar. Additional amenities include complimentary Wi-Fi, a 24-hour business station, state-of-the-art fitness center, Keurig coffee maker and a full-service restaurant and bar.
CORNELIUS, N.C. — Woodside Health has completed the disposition of Jetton Medical Park, a two-building medical office property located at 19475 and 19485 Old Jetton Road in Cornelius, a suburb of Charlotte. Montecito Medical Real Estate acquired the property for an undisclosed price. The 45,000-square-foot property is anchored by medical practices affiliated with Novant Health, an integrated healthcare organization with more than 500 locations.
LA VERGNE AND NOLENSVILLE, TENN. — US Storage Centers has purchased three self-storage facilities in metro Nashville for an undisclosed price. The facilities include a 68,660-square-foot, 641-unit property at 5565 Murfreesboro Road and a 59,590-square-foot, 485-unit facility located at 211 New Paul Road in La Vergne. The third asset is a 67,113-square-foot, 528-unit property located at 2001 Johnson Industrial Blvd. in Nolensville. The properties feature climate-controlled units, ground-floor units and parking. US Storage Center was self-represented, while Ashley Compton of Colliers International’s Self Storage Group represented the undisclosed seller in the deal. US Storage Center currently owns and operates 11 self-storage facilities in Tennessee.
