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CORNELIUS, N.C. — Two medical office buildings totaling 44,893 square feet, located at 19475 and 19485 Old Jetton Road in Cornelius, have sold for $10.75 million. Novant Medical Group anchors the properties. Mark Newell of Merrifield Patrick Vermillion represented Jetton Medical, the seller, in the transaction.
JV BUYS VIRGINIA HOTEL
WILLIAMSBURG, VA. — A joint venture between Interstate Hotels & Resorts, Waramaug Hospitality and a private investment group has acquired the 295-room Williamsburg Hotel & Conference Center, located at 50 Kingsmill Road in Williamsburg. The hotel will undergo a $7.5 million comprehensive renovation and conversion to the DoubleTree by Hilton brand. The property includes 45,000 square feet of meeting space for up to 1,600 people and an auditorium with the capacity for more than 700 people. Additionally, the hotel features three dining options, an indoor/outdoor swimming pool, tennis courts, a fitness center and business center.
WB VENTURES SELLS N.C. APT. COMPLEX FOR $5.93M
HICKORY, N.C. — WB Ventures has sold the 118-unit Creekside Apartments, a garden-style multifamily community located at 1227 10th St. Blvd. NW in Hickory, to Interurban Properties for $5.93 million. Amenities include a pool, clubhouse, tennis courts and outdoor grilling area. The acquisition included the assumption of a Fannie Mae loan. Beau McIntosh and Brian Ford of Capstone Apartment Partners represented the seller in the transaction.
CBRE GROUP SECURES $20M OFFICE LOAN
ORLANDO, FLA. — Don Jennewein and Nathan Lynch of CBRE Group have arranged a $20 million mortgage loan through ING on behalf of Emerson International. The 20-year loan has a 4.65 percent interest rate, and enables the company to retire existing mortgages on five Class B office properties totaling 350,000 square feet. The facilities include Major Plaza buildings I and II, Altamonte Lakeside Plaza Office Park and University Research Park I in Orlando, and Louisiana Office Park in Winter Park, Fla.
Q10 ARRANGES $8.3M RETAIL LOAN
MOORESVILLE, N.C. — Q10/Professional Mortgage Co. has secured an $8.3 million, fixed-rate loan on the 122,117-square-foot Mooresville Town Square, a shopping center located along Brawley School and Williamson roads in Mooresville. Bryson Thomason of Q10 arranged the loan on behalf of an institutional lender that Q10 represents as a loan correspondent. Q10 will service the loan.