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| June 08, 2012 |
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| MCCARTHY TO BUILD $98M GEORGIA TECH BUILDING |
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ATLANTA — McCarthy Building Cos. has been selected to build the Georgia Institute of Technology’s new 200,000-square-foot Engineered Biosystems Building at a cost of $98 million. The building will be located on the northern end of Georgia Tech’s campus in Atlanta on a square block surrounded by 10th Street, Peachtree Place, State Street and Atlantic Drive. Targeted for a minimum LEED Gold certification, the building will feature shared laboratory facilities that foster the merging of engineering and interdisciplinary science neighborhoods. The project architect is Cooper Carry with Lake Flato. Completion is slated for late summer 2014.
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| NORTH CAROLINA APT. COMPLEX SELLS FOR $18.6M |
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KERNERSVILLE, N.C. — Hawthorne Residential Partners has purchased the 200-unit The Meadows apartment community, located in Kernersville, from Greenville, S.C.-based Meridia for $18.6 million. The Class A complex is 95 percent leased and features a resort-style swimming pool with a cabana and grilling area, fitness center, clubhouse with a billiards room and business center. Jordan McCarley with Southeast Apartment Partners' Charlotte, N.C., office represented the seller in the transaction.
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| BB&T COMMERCIAL OFFICE BUILDING SELLS |
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MOBILE, ALA. — Burton Property Group has purchased the 70,819-square-foot BB&T Centre, a four-story office building located at 41 West Interstate 65 Service Road in Mobile. The building is anchored by BB&T and serves as the offices for the Mitchell Co., Wilkins Miller Hieronymus, Wells Fargo and Sen. Jeff Sessions. Josh Burmeister of SRS Real Estate Partners’ Mobile office represented Burton Property Group in the sale.
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| BEECH STREET CLOSES $23.5M LOAN |
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CHATTANOOGA, TENN. — Beech Street Capital has closed a $23.5 million HUD 223(f) loan to refinance the 316-unit Carriage Parc Apartments, located in Chattanooga. Chad Thomas Hagwood with Beech Street’s Birmingham, Ala., office arranged the 35-year loan with a 35-year amortization schedule.
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| CAPITAL ADVISORS ARRANGES $7.5M LOAN |
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CALHOUN AND RINGGOLD, GA. — Capital Advisors has arranged $7.5 million in refinancing for Ringgold Square in Calhoun and Red Bud Shopping Center in Ringgold, two 43,000-square-foot, Food Lion-anchored shopping centers. Matt Good of Capital Advisors arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrowers, Red Bud Properties and Ringgold Partners, through CIBC.
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Southeast
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