PALM HARBOR, FL-The Orlando-based affiliate of CNL Financial Group Inc. pays Senior Lifestyle Balmoral LP $123,232 per unit for the 99-unit Balmoral Assisted Living Community here. The acquisition brings the firm's portfolio to 74 properties in 26 states.
TAMPA, FL-It was only a $500,000 deal in a 29,915-sf building for 5,607 sf, but Colliers Arnold broker James Stuckey had to negotiate with two separate owners to get the transaction completed.
NEWNAN, GA-The Chattanooga, TN-based developer is working with the Georgia Regional Transportation Authority in revising development plans for the original 1.3-million-sf Village at Newnan Crossing off Interstate 85 in Coweta County.
ATLANTA-Arrowhead Development of Dallas, GA plans a mixed-use project on 340 acres in southwest Paulding County that will include 48,000 sf of commercial and office space and about 700 homes. BridgeMill developers Don Davis and Brett Blevins plan Towne Mill, a 431-acre, 575-townhome and single-family community with undetermined commercial space near Canton in Cherokee County.
ORLANDO-Unable to find financing until it could sell the assets, Orlando Hyatt Hotel Associates tells a US Bankruptcy Court judge it can no longer operate its 919-room, 20-year-old Hyatt Orlando near Walt Disney World and the 281-room, 40-year-old Downtown Four Points Sheraton.
TAMPA, FL-The Arlington, VA-based firm acquires the 95-room Hilton Garden Inn Ybor City from Impact Properties of here for $12.25 million, or $128.94 per room, the highest per-room price paid for a hotel in the local market since 1996, according to Dennis Reed, vice president at The Plasencia Group Inc. who brokered the sale.
ATLANTA-Owner Primrose Properties LP of New York picks the local office of the Houston-based brokerage firm which leases and manages other Primrose assets across the country. Insignia previously had the Perimeter 400 Center contract.
BRADENTON, FL-Duke Realty Corp. of Indianapolis is scheduled to break ground later this month on the 12-acre, $18 million build-to-suit project within Town Center at Lakewood Ranch in Manatee County, about 80 miles northwest of Downtown Orlando.
ATLANTA-Anxious to grow without having to pay dividends to shareholders, the nine-year-old hotel real estate investment trust plans to buy its leasing arm, Kitchin Hospitality LLC, for $1.3 million and use the proceeds to pay off taxes due from the transaction.
MINNEOLA, FL-Even after the Lake County School Board turned down a similar offer from Terry Hagen, local elected officials voted Sept. 10 to accept the deal and annex the developer's planned 711-home community, 25 miles west of Downtown Orlando.