MIAMI — Berkadia has arranged a $43.5 million loan to refinance a 112,896-square-foot mixed-use property located at 4141 NE 2nd Ave. in Miami’s Design District. Scott Wadler, Matthew Nihan and Michael Basinski of Berkadia’s Miami office secured the financing on behalf of Dacra, a local real estate owner-operator that owns more than 1 million square feet of space. LMF provided the 10-year, fixed-rate loan. The property houses a combination of office and retail tenants, including B&B Italia, Design Within Reach, iHeart Media and MC Kitchen.
PUNTA GORDA, FLA. — Equus Capital Partners Ltd. has broken ground on a 378,000 square-foot speculative warehouse logistics facility in Punta Gorda, a southwest Florida city situated along I-75 near Fort Myers. The project, named Florida Gulf Coast 75 Logistics Center, is being constructed within the Enterprise Charlotte Airport Park. The property will feature 32-foot clear heights, a single-side loading configuration, 54 loading docks and 73 trailer storage spaces opposite the loading docks, as well as LED lighting, 7-inch concrete floors and an ESFR sprinkler system. Equus has tapped Dan Miller of Colliers to lease the facility, which has an anticipated completion of second-quarter 2023. Equus Development LP, Equus’ development operating arm, will oversee development and construction of the Punta Gorda project.
ORLANDO, FLA. — Berkadia has secured $16.4 million in equity financing for the construction of Encore Narcoossee, a new 249-unit apartment community underway at 7567 Narcoossee Road in Orlando’s Lake Nona master-planned community. The developer, Dallas-based Encore Multifamily, a division of Encore Enterprises, has also secured a construction loan from Synovus Bank for the project. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia’s JV Equity & Structured Capital team secured the unnamed institutional investment manager as the capital source. This is the third equity placement that Berkadia has structured for Encore Multifamily in the past two years. Upon completion, Encore Narcoossee will feature a mix of studio, one-, two- and three-bedroom apartments averaging 920 square feet, as well as a clubhouse, fitness center and a pool.
MIAMI — Boston-based Rockpoint and Montreal-based Ivanhoe Cambridge have sold Mary Brickell Village, a Publix-anchored mixed-use property in Miami’s Brickell district. RPT Realty purchased the 200,503-square-foot development for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores of JLL represented the sellers in the transaction. Situated on 5.2 acres at 901 S. Miami Ave., Mary Brickell Village’s tenant roster includes Miami’s only LA Fitness Signature Club, as well as Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks, Massage Envy, Candela Gastro Bar and EWM Realty. The mixed-use property also includes an 875-space parking garage. Originally constructed in 2008, Mary Brickell Village underwent renovations between 2018 and 2020.
FORT MYERS, FLA. — Stonemont Financial Group and joint venture partner Geis Cos. have closed on their purchase of 35 acres in Fort Myers for the development of a 500,000-square-foot, Class A industrial park. The project, known as Legacy at Oriole Road, is slated for completion in second-quarter 2023. The development will include two 250,000-square-foot warehouses designed to accommodate users as small as 37,000 square feet. The buildings will feature 32-foot clear heights, 72 trailer parking stalls and above-standard bay spacing. The property offers proximity to I-75, Route 41 and other major thoroughfares.
PLANTATION, FLA. — SRS Real Estate Partners has brokered the $7.4 million sale of Bank of America Plaza, a 13,000-square-foot retail building located at 7001 W. Broward Blvd. in Plantation. Situated in South Florida’s Broward County, the property was built in 2004 and leased to Bank of America. Brandon Woulfe of SRS represented the seller, an entity doing business as 7001 Plantation 2009 LP, in the off-market transaction. Don Ginsburg of Katalyst Real Estate represented the buyer, Barron Real Estate.
MIAMI — Boston-based Rockpoint and Montreal-based Ivanhoe Cambridge have sold Mary Brickell Village, a Publix-anchored mixed-use property in Miami’s Brickell district. RPT Realty purchased the 200,503-square-foot development for $216 million. Danny Finkle, Chris Angelone, Matthew Lawton, Eric Williams and Kim Flores of JLL represented the sellers in the transaction. Situated on 5.2 acres at 901 S. Miami Ave., Mary Brickell Village’s tenant roster includes Miami’s only LA Fitness Signature Club, as well as Moxie’s, North Italia, P.F. Chang’s, Shake Shack, Blue Martini, Starbucks, Massage Envy, Candela Gastro Bar and EWM Realty. The mixed-use property also includes an 875-space parking garage. Originally constructed in 2008, Mary Brickell Village underwent renovations between 2018 and 2020.
FORT MYERS, FLA. — Stonemont Financial Group and joint venture partner Geis Cos. have closed on their purchase of 35 acres in Fort Myers for the development of a 500,000-square-foot, Class A industrial park. The project, known as Legacy at Oriole Road, is slated for completion in second-quarter 2023. The development will include two 250,000-square-foot warehouses designed to accommodate users as small as 37,000 square feet. The buildings will feature 32-foot clear heights, 72 trailer parking stalls and above-standard bay spacing. The property offers proximity to I-75, Route 41 and other major thoroughfares.
PLANTATION, FLA. — SRS Real Estate Partners has brokered the $7.4 million sale of Bank of America Plaza, a 13,000-square-foot retail building located at 7001 W. Broward Blvd. in Plantation. Situated in South Florida’s Broward County, the property was built in 2004 and leased to Bank of America. Brandon Woulfe of SRS represented the seller, an entity doing business as 7001 Plantation 2009 LP, in the off-market transaction. Don Ginsburg of Katalyst Real Estate represented the buyer, Barron Real Estate.
MIAMI — Lotus Capital Partners LLC has arranged a $70 million acquisition and construction financing package for a waterfront condominium project on Bay Harbor Islands in Miami. The sponsor is a partnership between Pearl Property Group and L3C Capital Partners, which is acquiring a one-acre site facing the Bay Harbor waterway that currently consists of 30 condos. Lotus arranged the dual-structure loan through MSD Partners to provide acquisition financing for the borrower to purchase the site and funds to construct a new residential project. The borrower plans to demolish the existing condos and build 46 ground-up condos averaging 2,800 square feet. The development will also include a fitness center, resort-style club pool overlooking the water and a marina.