A judge approved the sale of Alamance Crossing, an 855,000-square-foot shopping center in Burlington, to Real Capital Solutions for $38.5 million. The Triad Business Journal reports that Alamance Crossing has faced financial troubles in the past few years. In 2023, the Alamance County Superior Court appointed Spinoso Real Estate Group to take over management from CBL Properties after it defaulted on a $50.8 million bank loan in 2021. In July of 2024, the Alamance Superior Court ordered that the property be listed for sale.

Alamance Crossing is located in the eastern part of Burlington, just off Interstate 40 and near University Drive. The shopping center has retailers including Victoria’s Secret, Shoe Depot, Talbots, Furniture World, Bath & Body Works and Barnes & Noble. It also includes the Southeast Cinemas Alamance Crossing Stadium 16 movie theater as well as restaurants such as Red Bowl Asian Bistro, Cork & Cow, Buffalo Wild Wings and Royal Tea Cafe.

Urban Street Development and Berkadia secured $38.5 million in permanent and construction financing to fund the expansion of the Hotel Indigo Tallahassee – CollegeTown. The project at 826 Gaines Street, is near Florida State University.

Urban Street recently bought an adjacent .43 acre parcel in order to add on to the hotel. The hotel is expanding from 143 rooms to 237 and 5,500 square feet of prime ground floor retail at the roundabout entrance facing Doak Campbell Stadium.

Brad Williamson, Mitch Sinberg, and Harry Mancera of Berkadia Hotels & Hospitality, arranged the financing package on behalf of Urban Street. Synovus Bank provided the five-year loan which includes funds to refinance Phase 1 of the seven-story, mid-rise hotel – 143 rooms completed in 2020 – as well as construction of Phase II, 94 keys slated to deliver in 2026. Construction of Phase II has already commenced.

CBRE has secured $38.5 million in construction financing for the development of Village Green, a new 90,525-square-foot shopping center in Nolensville, Tennessee. 

Richard Henry, Mike Ryan, Brian Linnihan, and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance represented the borrower, Watkins Real Estate Group. The construction loan was sourced through ServisFirst Bank. 

Village Green will be located 18 miles south of downtown Nashville on a 16.98-acre site at the intersection of Nolensville Road and Rocky Fork Road. The shopping center will include nine buildings and be anchored by Publix grocery store. 

Watkins is an Atlanta-based, family-owned, full-service real estate development and management firm focused on commercial, retail and multi-family properties throughout the Southeast. Since inception, Watkins Real Estate Group has developed 4.7 million square feet of retail including over 50 projects anchored by Publix Super Markets and over 11,000 multifamily units.