ORLANDO, FLA. — Marcus & Millichap has arranged the $10.8 million sale of Turkey Lake Plaza, a retail center located at 7858 Turkey Lake Road in Orlando. Built in 2010, the property totals 19,719 square feet. Turkey Lake Plaza was leased to 12 tenants at the time of sale, including Gyu-Kaku Japanese BBQ. Tarek Chbeir of Marcus & Millichap procured the buyer, a local investor, in the transaction. The seller was also not disclosed.
MIAMI — Housing Trust Group (HTG) has begun construction on Courtside Apartments II, a $58 million affordable housing community project located in the Overtown neighborhood of Miami. Upon completion, the property will total 120 units in one-, two- and three-bedroom layouts. This marks the second and final phase of a two-phase development that began with the opening of Courtside Apartments in 2016. Apartments at Courtside II will be reserved for residents earning at or below 50, 60 and 70 percent of the area median income (AMI), and monthly rents will range from $985 to $3,092. The property will feature a North and South Building, situated at 1698 N.W. 3 Ave. and 1501 N.W. 4 Ave., respectively, with both buildings spanning seven stories. Amenities at the community will include a clubhouse with a media center, fitness center, dog park and bike storage. Completion of construction is scheduled for the first quarter of 2026, with leasing scheduled to begin in fall 2025. The project team includes Corwil Architects, general contractor BDI Construction, civil engineer Kimley-Horn, interior designer Builders Design and landscape architect Witkin Hults + Partners.
JACKSONVILLE, FLA. — CBRE Capital Markets’ Debt & Structured Finance team has secured a $61.3 million loan for Florida Gateway Logistics Park – Building 800, a new 1 million-square-foot warehouse located at 9909 Pritchard Road in Jacksonville. Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE’s Atlanta office arranged the loan through KKR on behalf of the borrower, Dallas-based Hillwood Investment Properties. Other teams of the financing were not disclosed. Built in 2023, the warehouse sits on 52 acres and is fully leased to an undisclosed third-party logistics company. The cross-dock building features 40-foot clear heights, 290 trailer spaces and 511 auto parking spots. Building 800 is situated within Florida Gateway Logistics Park, which at full build-out will span 3.1 million square feet across seven buildings.
MIAMI — JLL Capital Markets has arranged the $443 million sale of 701 Brickell, a trophy office building totaling 685,279 square feet in the heart of downtown Miami’s Brickell financial district. The sale marks the second-largest office transaction in Florida history, according to JLL. Morning Calm Management and its partner purchased the asset from Nuveen Real Estate. Manny de Zarraga, Matt McCormack, Ike Ojala and Hermen Rodriguez of JLL represented the seller and procured the buyer in the transaction. Fronting Brickell Avenue and Biscayne Bay, the property is home to tenants such as Bank of America and Holland & Knight LLP. Amenities include a fitness center, onsite café, in-house beauty salon and conference facilities. The 33-story building was constructed in 1985. Nuveen Real Estate, formerly TIAA Real Estate, acquired 701 Brickell in 2002. Charles Russo led the sale effort on behalf of Nuveen, which completed a $30 million capital renovation plan in 2021. Miami’s Brickell submarket is currently the top performing office market in the United States in terms of occupancy and rent growth, according to JLL. Nuveen Real Estate is one of the largest investment managers globally with $147 billion of assets under management. Morning Calm Management is an …
KISSIMMEE, FLA. — Cushman & Wakefield has brokered the $54.6 million sale of Osceola Logistics Center, an industrial property located at 5010 and 5030 Industrial Lane in Kissimmee. InLight Real Estate Partners and Black Salmon developed and sold the property to Principal Asset Management. Developed earlier this year, the Central Florida facility comprises two distribution facilities totaling 280,800 square feet: Building 200 (147,420 square feet) and Building 100 (133,380 square feet). Osceola Logistics Center was fully leased to a grocery and food service supply chain services company at the time of sale. Mike Davis, Rick Colon, Rick Brugge, Dominic Montazemi, Jared Bonshire and David Perez of Cushman & Wakefield represented the sellers in the transaction.
GOULDS, FLA. — Resia has sold Resia Old Cutler, a 390-unit apartment community located at 22555 S.W. 107th Ave. in Goulds, roughly 30 miles southwest of Miami. Kayne Anderson Real Estate acquired the property — which was completed in 2023 and offers one-, two- and three-bedroom residences — for an undisclosed price. Amenities at Resia Old Cutler include a multipurpose room, fitness center, children’s play area and a swimming pool. Resia will continue to serve as property manager for the community, overseeing day-to-day operations.
PLANT CITY, FLA. — Alliance Residential Co. has acquired a 15-acre parcel in Plant City, approximately 25 miles northeast of Tampa, with plans to develop a new multifamily project at the site. Dubbed Prose Carmina, the development will total 360 one- and two-bedroom apartments ranging in size from 746 to 1,078 square feet. Amenities at the community will include a swimming pool with sun-shelf seating, a playground, dog park, clubroom with a catering kitchen and entertainment lounge, fitness center and a business center with coworking spaces. Move-ins are scheduled to begin in early 2026. The project team includes architect Hensley Lamkin Rachel and civil engineer Halff Associates. Mark Eilers and John Ruscigno of Colliers brokered the land sale.
OCOEE, FLA. — Berkadia has provided a $54.7 million Freddie Mac loan for the refinancing of Advenir at the Oaks, a multifamily community located in Ocoee, roughly 10 miles outside Orlando. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia originated the five-year, fixed-rate loan on behalf of the borrower, an entity doing business as Advenir@The Oaks LLC. Built in two phases between 1989 and 1991, Advenir at the Oaks offers one-, two- and three-bedroom apartments. Amenities at the community include swimming pools, a clubhouse with a 24-hour fitness center and business center, a dog park, two laundry facilities, a playground and tennis/pickleball and basketball courts.
IRVINE, CALIF. — CoreLogic, a real estate information and analytics firm based in Irvine, has estimated that real estate property damages stemming from Hurricane Helene will fall between $30.5 billion to $47.5 billion. The storm made landfall around 11 pm on Thursday, Sept. 26 near Perry, Fla., and made its way through several Southeastern states, with its damage especially severe in western North Carolina. According to several national media outlets, the death toll from the storm stands at 227 across six states as of this writing with an unknown number reported missing. CoreLogic’s calculations include both residential and commercial real estate properties as well as automobiles in 16 states, but excludes damage to personal marine craft, offshore infrastructure, governmental structures and infrastructure such as roads and bridges. CoreLogic tabulates that losses from wind damage will fall between $4.5 billion to $6.5 billion; insured flood damage, both for inland flood situations and storm surges, will range from $1.5 billion to $4.5 billion for privately insured properties and $4.5 billion to $6.5 billion from the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP); and $20 billion to $30 billion in uninsured floor damage. Insured loss represents the amount insurers and …
BRANDON, FLA. — American Landmark Apartments has acquired Courtney Trace & The Addison, a 455-unit multifamily community located at 1131 Courtney Trace Drive and 251 Annapolis Way in Brandon, about 13 miles east of Tampa. The locally based buyer will rebrand the property as “The Griffin” moving forward. American Landmark also plans to implement $7 million of upgrades at the community, including a new dog park, updates to the clubhouse and fitness center, improvements to the pool and outdoor areas and the addition of electric vehicle charging stations. Interior units will also undergo substantial renovations. The seller and sales price were not disclosed.
