REBusinessOnline

Franklin Street Brokers $16.9M Sale of Multifamily Community in Orlando

ORLANDO, FLA. — Franklin Street has brokered the $16.9 million sale of CaSienna Apartments, a 160-unit multifamily community located at 5703 Stoneridge Court in Orlando. Robert Goldfinger, Darron Kattan, Kevin Kelleher and Zachary Ames of Franklin Street arranged the transaction on behalf of both the seller, SR Apartments LLC, and the buyer, an undisclosed partnership. CaSienna Apartments was constructed in 1972 and 1973 and comprises 16 one- and two-story buildings. Community amenities …

SVN Alliance Arranges $11.5M Sale of Office Portfolio in Daytona Beach

DAYTONA BEACH, FLA. — SVN Alliance has arranged the $11.5 million sale of a four-building office portfolio in Daytona Beach. Chris Butera, Carl Lentz IV, John Trost and Tim Davis of SVN Alliance arranged the transaction on behalf of the buyer, an undisclosed private investor, and the seller, Consolidated Tomoka Land Co. The portfolio included the two-story Concierge building located at the northeast corner of LPGA Boulevard and Williamson Boulevard, two buildings within Mason Commerce Center …

EIG Receives $57.8M Construction Loan for New Multifamily Community in Miami

MIAMI — Miami-based Estate Investment Group (EIG) has received a $57.8 million construction loan to fund the development of Soleste Twenty2, a 338-unit apartment community located at 2201 Ludlam Road in Miami’s Coral Way Manor neighborhood. Florida Community Bank provided the loan. The community will feature a mix of studio to three-bedroom units with rents starting in the mid-$1,300s. In addition, the project will offer several units with floor plans designed to provide residents with …

Publix to Anchor Retail Portion of Latitude Margaritaville in Daytona Beach

DAYTONA BEACH, FLA. — Sutton Properties has signed Publix to anchor Latitude Landings, the 200,000-square-foot retail portion of Latitude Margaritaville Daytona Beach, an active adult community. Margaritaville Holdings and Minto Properties are developing the community, and Sutton Properties is developing and leasing the project’s retail portion, dubbed Latitude Landings. Publix will occupy 48,000 square feet at the shopping center, which will be located on LPGA Boulevard, adjacent to the …

Strategic Property Partners to Develop 173-Room EDITION Hotel Within $3B Water Street Tampa Project

TAMPA, FLA. — Strategic Property Partners LLC (SPP) has unveiled plans to develop a 173-room EDITION hotel in Tampa. The hotel will be part of a 26-story tower in the heart of Water Street Tampa, a $3 billion mixed-use development from SPP. EDITION is a modern luxury brand that Marriott International (NASDAQ: MAR) launched in fall 2013. There are currently EDITION hotels in New York, Miami, London and China, with seven new properties scheduled to open this year. The Tampa EDITION will …

LCS Development to Lead $125M Expansion of Seniors Housing Community in Boca Raton

BOCA RATON, FLA. — LCS Development, an LCS Company, has been selected to develop and market the $125 million expansion of the Toby & Leon Cooperman Sinai Residences of Boca Raton. The not-for-profit continuing care retirement community (CCRC) opened in 2016 and includes 234 independent living homes, 48 assisted living units, 24 memory care units and 60 skilled nursing beds. The expansion will add an estimated 100 independent living residences, at least two additional themed dining …

Weiss Realty Arranges 47,000 SF Industrial Relocation for T-Shirt Company in Miami

MIAMI — Weiss Realty has arranged the relocation of Hard Ten Tree Shirt Cos.’ production operations from Brooklyn, N.Y., to Miami. The one-story industrial building is located at 3360 N.W. 110th St. Jaime Weiss of Weiss Realty, along with Fred Meyer of NAI Mertz and Mike Waite of The Easton Group, arranged the 10-year, 47,000-square-foot lease on behalf of Hard Ten. Edison Vasquez of Com-Real Miami-Doral represented the landlord, Calico 2017 LLC. The T-shirt company will move into the new …

Berkeley Point Capital Provides $19.7M Freddie Mac Loan for Apartment Community in Sarasota

SARASOTA, FLA. — Berkeley Point Capital (BPC) has provided a $19.7 million Freddie Mac loan for the refinancing of Beneva Place, a 192-unit apartment community in Sarasota. Brian Kochan of BPC originated the fixed-rate loan through Freddie Mac’s Green Up program on behalf of the undisclosed borrower. In order to qualify for the program, the borrower will upgrade a number of water fixtures throughout the property, promoting lower consumption and energy bills for tenants. Beneva Place …

Jefferson, Camden Property Trust to Develop $100M Multifamily Community in Downtown Orlando

ORLANDO, FLA. — McLean, Va.-based Jefferson Apartment Group, in partnership with Houston-based Camden Property Trust, has unveiled plans to co-develop 520 East, a $100 million multifamily community in downtown Orlando. The 364-unit tower will be situated at the southwest corner of East Church Street and South Eola Drive, a sister property to Jefferson’s 299-unit 420 East community that was completed last year. 520 East will include 7,000 square feet of ground floor retail, 12 …

Greystar Sells Four-Property Multifamily Portfolio in South Florida to PGIM, Carroll Organization

CHARLESTON, S.C. — Charleston-based Greystar Real Estate Partners LLC has sold a four-property, 1,616-unit apartment portfolio in South Florida, including Bella Vista at Boca Del Mar in Boca Raton, Centro at Davie in Davie and Stonybrook Apartments and Savannah Lakes, both in Boynton Beach. Carroll Organization and PGIM Real Estate formed a joint venture to purchase the portfolio from Greystar for an undisclosed price. Greystar originally acquired the four properties in 2013 as part of a …