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TAMPA, FL-European-American Realty of Atlanta pays Lane Investment and Development Corp. $118,750 per unit for the seven-month-old, 240-unit Summer Walk at Westshore apartment community here and $135,514 per unit for the 321-unit Summer Villa Apartments in Atlanta.
ST. PETERSBURG, FL-The 36-year-old affiliate of Largo-based Cox Target Media expects to break ground on the estimated $50-million venture in first quarter 2005 and have the facility fully operational in early 2007. The complex will be about 10 football fields in size.
ATLANTA-Locally based Scott & Associates and its investment partner Janet M. Gipson LLC purchase the 20%-leased, 114,000-sf office building on Lake Hearn Drive near Peachtree Dunwoody Road and Interstate 285 from Building G LLC for $72.80 per sf.
MCLEAN, VA-Highland Hospitality Corp. makes plans to add four hotels to its portfolio in deals that will total over $81 million. In addition to signing on to buy the four properties, Highland also commits to acquiring another hotel that has yet to be completed for an unspecified sum.
MIAMI-GMAC Commercial Mortgage Corp. and KeyBank Real Estate Capital both provided $62.5 million for the project, which will consist of 125,323 sf of retail and restaurant space, 416 residential condominiums and a 900-space parking garage.
DALLAS-The commercial mortgagor picks up Riverhill Financial Group in Atlanta and Millennium Capital Associates in Lexington, KY, as it sets out to establish a strong presence in the Southeast after mining opportunities in the West.
ORLANDO-The former president of locally based Commercial Net Lease Realty Inc. expects his Florida Retail Development LLC group to do average annual development and redevelopment volume of $100 million. The new firm will also partner with Commercial Net Lease Realty on specific deals.
LUTZ, FL-The 13-year-old New York-based investment opportunity fund pays MLG Capital of Brookfield, WI $11.2 million, or $47,447 per unit, for the 235-unit structure that is part of the two-building 448-unit Palms at Livingston garden apartment.
ORLANDO-RMC Property Group Inc. has filed preliminary development plans with the city for a 303-unit, 16-story condominium complex that will have 38,000 sf of retail and 3,100 sf of office space in the historic Thornton Park district.
LUTZ, FL-The Palms at Livingston, a 14-year-old, 213-unit garden apartment community 10 miles north of Downtown Tampa sells for $10.1 million or $47,418 per unit.