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Florida

Tremont Realty Capital Structures $16.3M Refinancing for Medical Office Building in Jacksonville

JACKSONVILLE, FLA. — Tremont Realty Capital, a subsidiary of The RMR Group LLC, has arranged a $16.3 million loan for the refinancing of Jacksonville Medical Plaza, a 132,488-square-foot, multi-tenant medical office complex in Jacksonville. The non-recourse, CMBS loan features a 10-year term, fixed 5.26 percent interest rate and a 30-year amortization schedule. The name of the borrower wasn’t disclosed.

January 20, 2017

The Shopping Center Group, Avison Young Broker $12.6M Sale of Publix-Anchored Center

NORTH PALM BEACH, FLA. — The Shopping Center Group and Avison Young have teamed up to broker the $12.6 million sale of Northlake Promenade Shops, a nearly 83,000-square-foot shopping center located at the southwest corner of Northlake Boulevard and Federal Highway in North Palm Beach. Situated on 21 acres, the Publix-anchored shopping center includes outparcels occupied by CVS/pharmacy, Chase Bank and BP Gas. The property also features land available for development. Woolbright Development..

January 20, 2017

CBRE Brokers $31M Sale of Apartment Community in Metro Orlando

ALTAMONTE SPRINGS, FLA. — CBRE has brokered the $31 million sale of Charter Pointe, a 312-unit apartment community located at the corner of Ballard Street and South Ronald Reagan Boulevard in Altamonte Springs, roughly 10 miles north of Orlando. Jacksonville-based Michaelson Group purchased the property from Sarasota, Fla.-based Insula Cos. Built in the 1970s, the newly renovated, 258,000-square-foot property sits on 19 acres near Eastmonte Park. In addition to recent upgrades including new..

January 19, 2017

Marcus & Millchap Arranges $9.6M Sale of Shopping Center in Miami

MIAMI — Marcus & Millichap has arranged the $9.6 million sale of Flagler Station Shops, a 42,800-square-foot shopping center located in Flagler Station near the Florida Turnpike in Miami. Built in 2001 along 106th Street, the retail center was 95 percent leased at the time of sale. Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office represented the seller, a New York-based advisor, in the transaction. The buyer is a private investment group based in Miami.

January 19, 2017

Wyndham Hotel Group Opens Wyndham Grand Clearwater Beach

CLEARWATER BEACH, FLA. — Wyndham Hotel Group has opened Wyndham Grand Clearwater Beach, a new 343-room hotel in Clearwater Beach, a beachfront town situated along the Gulf of Mexico in Pinellas County. The hotel features more than 22,000 square feet of meeting space, a full-service spa, outdoor pool, bar and Asian fusion restaurant, as well as a fitness center and business center open 24 hours a day. The hotel also includes two presidential suites, which feature three bedrooms, private..

January 18, 2017

Plaza Advisors Brokers $51M Sale of Shopping Center Portfolio in Florida, Alabama

TAMPA, FLA. — Tampa-based Plaza Advisors has brokered the $51 million sale of three Publix-anchored shopping centers totaling nearly 300,000 square feet in Florida and Alabama. The assets include Magnolia Plaza in Panama City Beach, Fla.; Palmer Ranch in Sarasota, Fla.; and Magnolia Place in Daphne, a suburb of Mobile, Ala. The shopping centers had an average occupancy rate of 98 percent at the time of sale. Jim Michalak and Mike Cvetetic of Plaza Advisors were the sole brokers involved and..

January 16, 2017

KeyBank Provides $15.2M Construction Financing for Affordable Housing Community in Tampa Bay Area

HOLIDAY, FLA. — KeyBank Real Estate Capital has provided $15.2 million in construction financing for Park at Wellington II, an affordable housing apartment community located in Holiday, a Tampa Bay area town in Pasco County. Combined with Phase I, the Low Income Housing Tax Credit property will span 110 units comprising one- to three-bedroom layouts. The units are designated for households earning 40 percent or 60 percent of the area median income. Set to open later this year, the four-story..

January 16, 2017

IRC Retail Centers, MAB American Retail to Develop Publix-Anchored Shopping Center in Metro Pensacola

GULF BREEZE, FLA. — IRC Retail Centers and joint venture partner MAB American Retail Partners LLC have purchased 16 acres along U.S. Highway 98 in the Pensacola suburb of Gulf Breeze for the development of a Publix-anchored shopping center. The 66,000-square-foot property, known as Tiger Point Pavilion, will feature a 45,600-square-foot Publix grocery store, 1,400-square-foot Publix Liquors store, additional inline retailers and three freestanding pad buildings on the site. The development..

January 13, 2017

Jackson-Shaw Breaks Ground on Two Industrial Properties in Jacksonville

JACKSONVILLE, FLA. — Jackson-Shaw has started construction on Jacksonville International Tradeport 3 and 4, two industrial assets located in Jacksonville’s Northside submarket adjacent to Jacksonville International Airport. The properties will total 178,000 square feet and are set for completion in the third quarter. Building 3 will total 124,000 square feet and feature 32-foot clear heights, 37 dock-high doors, 130-foot truck courts, one drive-in ramp, 109 parking spaces and 34 optional..

January 13, 2017

Lancaster Pollard Negotiates $30.5M Sale of Seniors Housing Community in Central Florida

PORT ORANGE, FLA. — Lancaster Pollard has arranged the $30.5 million sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando. Shepherd Health, a Miami-based seniors housing developer and operator, purchased the property from a private ownership group. Natasha Ursuy of Fifth Third Bank originated a $24 million acquisition loan for the buyer through the bank. Built in 1984, CountrySide Lakes offers 26..

January 13, 2017