REBusinessOnline.com

June 13, 2012

HULL STOREY GIBSON BUYS ALA. MALL
AUBURN, ALA. — Hull Storey Gibson has acquired the 523,948-square-foot Village Mall in Auburn. Belk, Dillard's, JC Penney and Sears anchor the center. The buyer plans to enhance the appearance and shopping experience of the mall by making gradual improvements and reconfigurations, such as displaying historical photographs that celebrate the history of the area.


DONALDSON GROUP COMPLETES $6M RENOVATION
TEMPLE HILLS, MD. — Rockville, Md.-based The Donaldson Group has finished a $6 million renovation of the 459-unit Heather Hill, an apartment community located at 5837 Fisher Road in Temple Hills. The new amenities include a fitness center, business center and a youth education/activity room. The refurbished apartments have modern kitchens, updated bathrooms with water-conserving features, new carpeting, individual washer-dryer units, new windows, sliding doors and new balcony railings. The Donaldson Group acquired the property with equity partner, New York-based Angelo, Gordon & Co. in 2010.


AMELIA STATION SELLS FOR $2.8M
YULEE, FLA. — The Roseview Group has announced the sale of the 33,707-square-foot Amelia Station and a 13.62-acre development tract located at the intersection of State Road 200 and Amelia Concourse in Yulee, for $2.8 million. Purchased by a California-based investor, the tract has development rights for an additional 108,000 square feet of retail or office space. Winn-Dixie anchors the center, which contains a Domino’s Pizza, Dollar Store and many local restaurants. The property is 71 percent leased. Cliff Taylor of CBRE Group represented the seller, The Roseview Group’s bank client, in the transaction.


LEXINGTON REALTY TRUST ARRANGES $55M LOAN
BALTIMORE — Lexington Realty Trust has arranged a $55 million loan for the 476,000-square-foot Transamerica Tower, an office building located in Baltimore. The mortgage loan carries a fixed interest rate of 4.32 percent. The Transamerica Tower is 95 percent leased.


BEECH STREET CAPITAL SECURES $23.5M LOAN
CHATTANOOGA, TENN. — Beech Street Capital has closed on a $23.5 million FHA-insured loan to refinance the 316-unit Carriage Parc Apartments, a multifamily complex located in Chattanooga. The fixed-rate loan has a 35-year term with a 35-year amortization schedule. Chad Thomas Hagwood from Beech Street’s Birmingham, Ala., office originated the loan.

Southeast