Florida

Royal Palm, Mattoni Group to Develop 320-Unit Multifamily Project in Orlando’s Lake Nona Region

by John Nelson January 31, 2025

ORLANDO, FLA. — A partnership between Royal Palm Cos. and Mattoni Group has announced the development of Royal Palm at Lake Nona, a 320-unit garden-style multifamily development located in southeast Orlando. Funding for the Class A project totaled $94.3 million, including a $56.6 million construction loan and $17 million in preferred equity. Situated within the 7,000-acre Lake Nona master-planned community, Royal Palm at Lake Nona will be located at 3000 Aria Circle. Upon completion, the new 16-acre development will comprise four four-story buildings and eight carriage house buildings with a unit mix of one- to three-bedrooms. Units will range from 782 square feet to 1,398 square feet in size. Additionally, more than 9,000 square feet will be dedicated to a clubhouse space that will feature a demonstration kitchen and a coworking business center with private offices. Other amenities will include a fitness center, indoor pet grooming center, resort-style pool with a jacuzzi, cabanas and electric vehicle charging stations. Forum Architecture & Interior Design is the project architect. Completion is slated for the first quarter of 2027.

January 31, 2025

Acquisitions Florida Retail Southeast

SRS Arranges $8.9M Sale of Retail Property in Homosassa, Florida Leased to 7-Eleven

by John Nelson January 31, 2025

HOMOSASSA, FLA. — SRS Real Estate Partners has arranged the $8.9 million sale of a retail property in Homosassa that is leased to gas station giant 7-Eleven. Built in 2024 and situated at 4018 S. Suncoast Blvd., the gas station and convenience store totals 4,650 square feet and sits on 1.8 acres. 7-Eleven occupies the property on a 15-year corporate-guaranteed lease. Patrick Nutt and William Wamble of SRS represented the seller, a Florida-based developer, in the transaction. The buyer was a private investor from Florida. Both parties requested anonymity.

January 31, 2025

Acquisitions Florida Mixed-Use Southeast Student Housing

Halstatt Sells 644-Bed UnionWest at Creative Village Student Housing Tower in Downtown Orlando

by John Nelson January 29, 2025

ORLANDO, FLA. — Halstatt Real Estate Partners has sold UnionWest at Creative Village, a 664-bed student housing property near the University of Central Florida’s (UCF) downtown Orlando campus. Halstatt developed the 15-story tower in partnership with Development Ventures Group and Ustler Development in August 2019. Provident Resources Group purchased UnionWest for an undisclosed price using bonds underwritten by BofA Securities. Located at the corner of West Livingston Street and North Terry Avenue, the student housing tower is a component of the $1.5 billion Creative Village mixed-use campus, which includes academic space for both UCF and Valencia College’s downtown campus. In addition to student housing, UnionWest offers more than 100,000 square feet of academic space, 11,000 square feet of street-level retail space and a 600-space parking garage.

January 29, 2025

Acquisitions Florida Retail Southeast

Marcus & Millichap Negotiates $8.4M Sale of Retail Strip Center in Miami

by John Nelson January 29, 2025

MIAMI — Marcus & Millichap has negotiated the $8.4 million sale of Blue Grotto Plaza, an 11,890-square-foot retail strip center located in Miami. Built in 1973 and renovated in 2023, the multi-tenant property features a mix of service-oriented businesses and food-and-beverage tenants, including 10 retail spaces and 68 parking spaces. Jonathan De La Rosa and Matthew Albregts of Marcus & Millichap marketed the property on behalf of the seller, Minkin Enterprises Inc., and procured the buyer, OMAC Real Estate LLC, in the transaction.

January 29, 2025

Acquisitions Florida Retail Southeast

Sagard Real Estate Sells 335,995 SF Shopping Center in Altamonte Springs, Florida

by John Nelson January 28, 2025

ALTAMONTE SPRINGS, FLA. — Denver-based Sagard Real Estate (formerly EverWest Real Estate Investors) has sold Marketplace at Altamonte, a 335,995-square-foot shopping center located in Altamonte, roughly 16 miles outside Orlando. According to the Orlando Business Journal, an entity associated with Centro Property Management LLC purchased the property for $28.9 million from Sagard’s core equity fund. The center was 55 percent occupied at the time of sale to tenants including Burlington, Ross Dress for Less and Total Wine & More. Sagard originally acquired the center in 2005.

January 28, 2025

Development Florida Leasing Activity Mixed-Use Office Southeast Top Stories

Amazon to Anchor 1 MSF Wynwood Plaza Mixed-Use Development in Miami

by John Nelson January 28, 2025

MIAMI — Amazon (NASDAQ: AMZN) has signed on to anchor Wynwood Plaza, a 1 million-square-foot mixed-use campus nearing completion in Miami’s Wynwood Arts District. The Seattle-based e-commerce giant will occupy 50,333 square feet within the development’s 12-story office tower that is set to deliver in the coming months. The landlords in the lease transaction are New York City-based L&L Holding Co. and Oak Row Equities, which has offices in New York City and Miami. The partners are co-developing Wynwood Plaza with Shorenstein Investment Advisors and investment partner Claure Group, which will also be a tenant in the building. The office tower will span 266,000 square feet and include an array of indoor and outdoor amenities, including an amenity hub on the second floor that will feature a fitness club with high-end equipment, showers and lockers, as well as a golf simulator and conference rooms. Other features of the tower include floor-to-ceiling windows, private tenant terraces and an expansive lobby. Office tenants will have direct access to Wynwood Plaza’s onsite parking garage and ground-level restaurants and shops, as well as a landscaped courtyard and a shaded rooftop area with flexible seating arrangements. Amazon will join other committed office tenants including Claure …

January 28, 2025

Acquisitions Florida Healthcare Southeast

Marcus & Millichap Facilitates $23.4M Sale of Medical Office Building in Fort Walton Beach, Florida

by John Nelson January 24, 2025

FORT WALTON BEACH, FLA. — Marcus & Millichap has facilitated the $25.4 million sale of a 46,992-square-foot, multi-tenant medical office building in the Florida Panhandle city of Fort Walton Beach. Built in 2008, the three-story property is fully occupied by Orthopaedic Associates and Surgical Specialists ASC on a 15-year triple-net lease basis. Frank Roti, Brett Rodgers and Alex Sacks of Marcus & Millichap represented the seller, Emerald Coast Diversified Properties LLC, and procured the buyer, Montecito Medical Real Estate, in the transaction. Ryan Nee served as Marcus & Millichap’s broker of record in Florida for the deal.

January 24, 2025

Development Florida Leasing Activity Mixed-Use Retail Southeast

UHealth Signs 11,243 SF Retail Lease at Downtown Doral in Metro Miami

by John Nelson January 24, 2025

DORAL, FLA. — Codina Partners has announced that the University of Miami health system (UHealth) will occupy an 11,243-square-foot wing at Downtown Doral, a 250-acre mixed-use community in metro Miami. The tenant is part of the property’s 25,000-square-foot retail expansion, which is located at the intersection of N.W. 87th Avenue and N.W. 53rd Terrace and will include 929 parking garage spaces. UHealth’s new facility, which will feature Bascom Palmer Eye Institute and physical therapy services, will join other tenants at the property including Sweat 440, South Miami OB/GYN Associates, Sage Dental, Muse Beauty Salon, Crema Gourmet Espresso Bar and Pura Vida. Codina plans to break ground on the retail expansion in first-quarter 2025 and wrap up construction in first-quarter 2026.

January 24, 2025

Development Florida Multifamily Southeast

Focus, Group Fox Receive Site Plan Approval for 39-Story Brickell Starlite Multifamily Tower in Miami

by John Nelson January 23, 2025

MIAMI — Focus and Group Fox have received site plan approval for Brickell Starlite, a 39-story multifamily tower located in Miami’s Brickell financial district. Focus is a development and construction firm, and Group Fox is a property asset management firm, and both companies are headquartered in Chicago. Set for completion in 2028, Brickell Starlite will comprise 517 apartments and 7,500 square feet of retail space. Gensler designed the tower, which is now fully zoned and ready to break ground once the final permitting is completed. Focus has retained Chris Lentz, Chris Moyer, Jeff Altenau, Susan Tjarksen and Marc Royer of Cushman & Wakefield to fully capitalize the development.

January 23, 2025

Florida Loans Seniors Housing Southeast

Marathon Provides $154.5M Refinancing for Seniors Housing Portfolio in Florida

by John Nelson January 23, 2025

NEW YORK CITY — Marathon Asset Management has provided a $154.5 million loan for the refinancing of a senior living portfolio, dubbed The American House Florida Portfolio, located in Florida. A joint venture between Monarch Alternative Capital and REDICO is the borrower. Totaling 817 units, the portfolio comprises six communities offering 40 independent living, 306 assisted living and 102 memory care residences. The communities were built between 2015 and 2018. According to a press release issued by New York-based Marathon, each of the properties is located in a Florida market that is currently experiencing significant demographic growth. REDICO, which developed four of the communities, has been invested in the portfolio for roughly a decade. In 2017, REDICO expanded the portfolio through the acquisition of two additional communities. Monarch acquired the portfolio in 2021 through a recapitalization, wherein REDICO remained as a joint venture equity owner. REDICO manages the properties through its affiliate, American House SLC. Joseph Griffin of Marathon originated the loan. Aron Will and Adam Mincberg of CBRE secured the financing on behalf of the borrower.

January 23, 2025

Newer Posts

Older Posts