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| July 13, 2012 |
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| POLLACK SHORES BUYS FLA. APT. COMPLEX FOR $23.6M |
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ORLANDO, FLA. — Pollack Shores Real Estate Group has acquired the 396-unit Heather Glen, an apartment complex located at 10801 Heather Ridge Circle in Orlando, for $23.6 million. The company plans to invest $1.5 million to renovate and upgrade the pool area, clubhouse, fitness center, landscaping and other amenities. The property is 95 percent leased. Matrix Residential, a subsidiary of Pollack Shores, will manage the community.
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| KBS SELLS INDUSTRIAL PROPERTY FOR $16.1M |
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AUSTELL, GA. — KBS REIT I has sold the 353,983-square-foot Hartman Business Center One, a warehouse and distribution center located in Austell, for $16.1 million. The building is part of the 1.8 million-square-foot Hartman Business Center.
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| TENN. HOTEL SELLS FOR $8M |
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SMYRNA, TENN. — Summit Hotel Properties has purchased the 83-room Hampton Inn & Suites, located at 2573 Highwood Blvd. in Smyrna, for $8 million. The company plans to invest $500,000 in capital improvements. This is the company's 11th acquisition.
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| PASSCO ACQUIRES ALA. APT. COMPLEX |
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BIRMINGHAM, ALA. — Passco Cos. has purchased the 260-unit Stonegate, a luxury apartment community located at 101 Leaf Lake Blvd. in Birmingham, from EBSCO Income Properties. The property is 92 percent leased. Ryan Griffin of Rock Apartment Advisors represented both parties in the transaction.
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| BULL REALTY BROKERS $2M MIXED-USE SALE |
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CUMMING, GA. —Atlanta-based Bull Realty has arranged the $2 million sale of the 32,463-square-foot The Village at Creekstone, a mixed-use development located on Peachtree Parkway in Cumming. The property includes two retail buildings totaling 27,190 square feet, a two-story office condominium totaling 5,273 square feet, as well as three 2,500-square-foot office pad sites, one 4,581-square-foot office pad site and a .65-acre retail outparcel. Rob Whitmire and Theresa Johnson of Bull Realty represented the seller, a super regional bank, in the transaction. John Harrison, also of Bull Realty, represented the buyer, Alpharetta, Ga.-based Penn Hodge LLC.
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Southeast
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