Regions Southeast
Group of 31 Condos Snapped Up at Palm Coast Resort
May 16, 2008

Commercial Alliance Group has purchased from Centex Homes 31 condominium units that never sold in the Palm Coast Resort's 72-unit Waterways South building just outside of Orlando. The real estate development and financial services firm released a $6.3 million private equity offering; $4.2 million of that sum was sold or committed before the acquisition closed. The firm expects the private equity offering to reach completion by May 31. Commercial Alliance will offer the one-year-old residences for sale at 50 percent of Centex Homes' August 2006 pre-construction prices, and will also consent to renting the units on a nightly basis.

 
Recent Southeast Headlines
Balfour Beatty Starts Operational Management of Fort Jackson Project
Aug. 08, 2008
Balfour Beatty Communities L.L.C. has announced that it has commenced property management and maintenance services for the military family housing at the U.S. Department of the Army's Fort Jackson located in Columbia, S.C.
RockBridge Takes $46M North Carolina Hotel Portfolio
Aug. 08, 2008
RockBridge Partners, the equity platform of Columbus, Ohio-based RockBridge Capital, has announced the closure of a deal to acquire Gateway Center, a portfolio with four hotels, office and retail space and five acres of land in Rocky Mount, 60 miles east of Raleigh, N.C. William Hull Jr., the original developer, will continue to be involved in the deal as a minority partner. Hospitality Ventures, headquartered in Atlanta, will be the manager for the hotels.
300 Northcreek CBRE Investors Grabs Buckhead Office Park
Aug. 07, 2008
CB Richard Ellis Investors has purchased Northcreek Office Park in the Buckhead community of Atlanta on behalf of the company’s Strategic Partners U.S. 5 fund. The terms of the transaction were not disclosed.
Praedium, Audubon Acquire 938-Unit Atlanta M-F Portfolio
Aug. 06, 2008
The Praedium Group and Audubon Communities Management have teamed up to buy a seven-property multi-family portfolio in the Atlanta metro region for approximately $45 million. The seller was not identified.
Westin Ft. Lauderdale $84M in Financing in Place for Fort Lauderdale Hotel Transformation
Aug. 05, 2008
Plans for the conversion of Fort Lauderdale, Fla.'s Sheraton Yankee Trader Hotel into the 433-room Westin Beach Resort have gotten a big boost with the closing of an $84 million financing deal for the project. Borrower A1A Trader L.L.C., an affiliate of Starwood Capital Group, was able to obtain a senior secured increasing term loan from ING Real Estate Finance, which took on the roles of Administrative Agent and Sole Lead Arranger on the transaction.