BOYNTON BEACH, FLA. — MMG Equity Partners has acquired Meadows Square Shopping Center, a 94,708-square-foot retail center in Boynton Beach, a city in Palm Beach County, for $17 million. Presidente Supermarket anchors the center, which was 97 percent leased at the time of sale to tenants including Dollar Tree and Bank of America. Casey Rosen of CBRE arranged the transaction on behalf of the undisclosed seller. HFF arranged a 10-year, fixed-rate acquisition loan through a life insurance..
SUNRISE, FLA. — CPAC, a joint venture between CREC and members of the Lindemann family, has sold University Shoppes of Sunrise in Broward County for $12.6 million. Andrew Remick of CREC and Peter Mekras of Aztec Group represented CPAC in the transaction. Luxcom acquired the asset. CPAC originally acquired the property through foreclosure in 2012 and repositioned the property, executing a ground lease with Aldi and selling a portion of the land for a new multifamily development. At the time of..
TAMPA, FLA. — Westmount Realty Capital LLC has sold a 332,250-square-foot, 14-building industrial portfolio located in Tampa’s Westside submarket. The sales price and seller were not disclosed. The portfolio includes six showroom and flex buildings on West Waters Avenue, two rear-load, dock-high buildings on Sunstate Street and six front-load, dock-high distribution warehouse buildings on Pioneer Park Boulevard. Westmount originally acquired the portfolio in 2013 and invested in exterior..
TAMPA, FLA. — CBRE has arranged the $45.1 million sale of Tampa International Business Park, a six-building office park in Tampa’s Westshore submarket, roughly six miles north of Tampa International Airport. Dale Peterson, Zachary Eicholtz, Courtney Snell, Philip Weber and Hans Kaunath of CBRE arranged the transaction on behalf of the seller, TerraCap Management LLC. Real Estate Value Advisors LLC acquired the property. At the time of sale, the office park was 98 percent leased to tenants..
RICHMOND HEIGHTS, FLA. — WoodSpring Hotels has opened a new location at 16055 S.W. 117th Ave. in Richmond Heights, roughly 23 miles south of Miami. The 123-room WoodSpring Suites Miami Southwest offers three room layouts, each with an in-room kitchen equipped with full-size refrigerator, two-burner stovetop and a microwave. WoodSpring Suites also features guest laundry and a fitness center. Gold Coast Premier Properties LLC owns the hotel, and Hotel Management & Consulting LLC (HMC) will..
FORT LAUDERDALE, FLA. — Encore Capital Management has received a $75 million construction loan for The Rise Flagler Village, a 348-unit apartment project located at 405 N.E. 2nd St. in downtown Fort Lauderdale’s Flagler Village. Walker & Dunlop arranged the financing through Pacific Western Bank and Square Mile Capital. G.T. McDonald Enterprises Inc. will serve as the general contractor for the project, and Cohen Freedman Encinosa & Associates Architects Pa Inc. will serve as the..
WESTON, FLA. — Highline Real Estate Capital, in a joint venture with Sefira Capital, has acquired a two-building, 63,000-square-foot office portfolio in Weston, for $13 million. Situated in South Florida’s Broward County, the portfolio includes the 28,000-square-foot Chase Building located at 1040 Weston Road and the 35,000-square-foot Weston Commerce Center at 1625 N. Commerce Parkway. David Duckworth, John Crotty and Michael Fay of Avison Young arranged the transaction on behalf of the..
NORTH MIAMI, FLA. — Cushman & Wakefield has arranged the $7.1 million sale of Holly House, a 57-unit apartment community in North Miami. Calum Weaver and Perry Synanidis of Cushman & Wakefield arranged the transaction on behalf of the seller, Barry University Inc. Holly House Partners LLC, a subsidiary of Freshwater Group, acquired the asset. The three-story community totals 45,496 square feet and was constructed in 1968. Barry University acquired the property in 2009 to serve as..
CORAL SPRINGS, FLA. — ARA Newmark has arranged the $41.5 million sale of ARIUM San Remo, a 180-unit apartment community in Coral Springs, roughly 20 miles northwest of Fort Lauderdale in Broward County. Avery Klann, Hampton Beebe, Jonathan Senn, Matthew Scarola, Dick Donnellan and Marc deBaptiste of ARA Newmark represented the seller, Atlanta-based Carroll Organization, in the transaction. South Florida-based KVR Properties LLC acquired the asset. Constructed in 1995, ARIUM San Remo features..
TAMPA, FLA. — The Altman Cos., in partnership with Mattoni Group, has broken ground on Altís Grand Central, a 314-unit apartment community in Tampa. The eight-story tower will be located within walking distance of the University of Tampa and Oxford Exchange, a mixed-use development with original walls dating back to 1891. Today, the development is home to food and goods retailers and a shared work environment. Altís Grand Central will offer studio to three-bedroom units, ranging in size..