Florida

Gladstone Commercial Acquires Industrial Portfolio in Central Florida for $19.1M

by Alex Tostado April 9, 2019

OCALA, FLA. — Gladstone Commercial Corp. has acquired a two-building, 383,000-square-foot industrial portfolio in Ocala for $19.1 million. The two buildings are fully leased to Signature Brands LLC with a 20-year lease term. Gladstone acquired the buildings in a sale-leaseback transaction with Signature Brands, a food manufacturer and distributor focusing on confectionary products like sugar, sprinkles and icings. The first building, a 207,000-square-foot facility located at 1900 SW 38th Ave., was built in 2001 and expanded in 2010 and primarily serves as Signature Brands’ popcorn manufacturing and distribution center. Signature Brands has invested more than $15 million in the facility. The other building is located at 808 SW 12th St., spans 176,000 square feet and is used for the manufacturing of decorative baking products.

April 9, 2019

Acquisitions Florida Mixed-Use Retail Southeast

Mast Capital Acquires Mixed-Use Shopping Center in Fort Lauderdale for $43M

by Alex Tostado April 5, 2019

FORT LAUDERDALE, FLA. — Mast Capital has acquired The Quay, a 73,000-square-foot mixed-use shopping center in Fort Lauderdale. The Quay sits on seven acres along South 17th Street near the Stranahan River, three miles south of downtown Fort Lauderdale. The asset was fully leased at the time of the sale to tenants including Boatyard Restaurant, the United States Postal Service and Chipotle Mexican Grill. The property also includes a two-story office building and Boathouse of Fort Lauderdale marina. Hudson Capital Group Inc. sold The Quay. CIT Bank provided acquisition financing, and Roberto Susi of Axiom Capital Advisors arranged the sale.

April 5, 2019

Acquisitions Florida Multifamily Southeast

Uptown Ambrus Investments Acquires Multifamily Community in Tampa for $23.5M

by Alex Tostado April 4, 2019

TAMPA, FLA. — Uptown Ambrus Investments LLC has acquired University Gardens, a 292-unit multifamily complex in Tampa’s University Square submarket, for $23.5 million. A local limited liability company sold the asset. The asset features studio, one-, two- and three-bedroom floor plans. Built in phases between 1969 and 1974, the property offers amenities such as a courtyard, swimming pool, playground, volleyball court, pet play area and a picnic area. Darron Kattan, Kevin Kelleher, Zachary Ames and Avery Jordan of Franklin Street represented both the buyer and seller in the transaction. Casey Siggins and Ben Miller of Franklin Street Capital Advisors provided acquisition financing for the buyer.

April 4, 2019

Development Florida Multifamily Southeast

Joint Venture Delivers 294-Unit Apartment Community in Miami

by Alex Tostado April 3, 2019

MIAMI — A joint venture between Adler Group, 13th Floor Investments and Barings LLC has delivered Motion at Dadeland, a 25-story, 294-unit apartment community in Miami’s Dadeland submarket. The joint venture also teamed with Miami-Dade County Department of Transportation and Public Works to deliver the asset. Motion at Dadeland offers studio, one-, two- and three-bedroom floor plans and just under 8,000 square feet of retail space. Located at 8400 S. Dixie Highway, the building is adjacent to Dadeland North Metrorail Station and the Dadeland Station retail center. Amenities at Motion Dadeland include a fitness center, swimming pool with poolside cabanas, media room and coworking space. The design team included general contractor Civic Construction and designer Corwil Architects. TD Bank and Santander Bank provided construction financing.

April 3, 2019

Acquisitions Florida Multifamily Southeast

Providence, Aegon Acquire Apartment Complex in Tampa Bay Area for $63M

by Alex Tostado April 2, 2019

BRANDON, FLA. — A joint venture between Providence Real Estate and Aegon Real Assets has acquired The Park at Via Rosa, a 390-unit apartment complex in Brandon, for $63 million, or $161,538 per unit. The asset spans 24 acres, 33 buildings and 400,140 square feet. The new owners plan to upgrade unit interiors, including new appliances, wood flooring, new laminate countertops, tile backsplashes and new cabinets. Located at 2211 Grand Isle Drive, about 10 miles east of downtown Tampa, the community offers one-, two-, three- and four-bedroom floor plans and amenities including a clubhouse, fitness center, business center, tanning salon, playground, pet play area, car care center, swimming pool and volleyball and tennis courts. Luis Elorza, Brad Capas and Michael Mulkern of Cushman & Wakefield represented the buyers in the transaction. Managed by Blue Roc Premier, Grand Rivage at Brandon Lakes Ltd. sold the property.

April 2, 2019

Acquisitions Florida Retail Southeast

Marcus & Millichap Arranges $14.2M Sale of Retail Center in Southwest Florida

by Alex Tostado April 1, 2019

BONITA SPRINGS, FLA. — Marcus & Millichap has arranged the $14.2 million sale of North Bay Village, a 114,545-square-foot retail property in Bonita Springs. North Bay Village was 73 percent occupied at the time of the sale, and the buyer, a private investor through a 1031 exchange, signed long-term leases with Hertz, Emaint and Keller Williams Real Estate to bring the asset to 98 percent occupancy. Other tenants include Bonefish Grill, Mattress Firm and Edible Arrangements. Jim Shiebler, James Garner and James Medefind of Marcus & Millichap represented the seller, a private investor, in the transaction.

April 1, 2019

Affordable Housing Florida Loans Multifamily Southeast

KeyBank Provides $34M Acquisition Loan for Affordable Housing Property in South Florida

by Alex Tostado March 29, 2019

NAPLES, FLA. — KeyBank Real Estate Capital has provided a $34 million Freddie Mac acquisition loan for Waverley Place Apartments, a 300-unit affordable housing property in Naples. The asset consists of 40 two-story apartment buildings situated on 11 acres. A portion of the units will be reserved for individuals and families earning 80 percent of area median income. Fred Dockweiler of KeyBank’s Commercial Mortgage Group originated the non-recourse, fixed-rate loan with a seven-year term, three years of interest-only payments and a 30-year amortization schedule. The borrower was not disclosed.

March 29, 2019

Acquisitions Florida Multifamily Southeast

Marcus & Millichap Arranges $34.1M Sale of Tampa Multifamily Complex

by Alex Tostado March 28, 2019

TAMPA, FLA. — Marcus & Millichap has arranged the sale of 260 rental units and 78 of 108 condominiums at Lake Azzure in Tampa. A private real estate group based in New York City sold the 334 units for $34.1 million to a private family office. IPA Capital Markets, a division of Marcus & Millichap, arranged an equity loan totaling $24.8 million on behalf of the buyer. The 10-year, fixed-rate loan features five years of interest-only payments. Lake Azzure was built in 1972 and comprises 30 buildings spanning more than 24 acres. Evan Kristol, Ned Roberts, Jason Hague and Adam Podbelski of Marcus & Millichap represented the buyer in the transaction.

March 28, 2019

Florida Industrial Leasing Activity Southeast

Logistics Company Renews 364,608 SF Industrial Lease in Miami

by Alex Tostado March 27, 2019

MIAMI — Ceva Logistics, a global logistics supply chain company, has renewed its long-term, 364,608-square-foot lease to fully occupy 5601 NW 72nd Ave. in Miami. The industrial property is situated about seven miles west of Miami International Airport. Thomas Kresse, Ben Eisenberg Walter Byrd and Carlos Gaviria of Transwestern Commercial Services represented the landlord, Clarion Partners, in the lease transaction. Devin White of CBRE represented the tenant.

March 27, 2019

Acquisitions Florida Industrial Self-Storage Southeast

SkyView Advisors Arranges Sale of 65,224 SF Self-Storage Facility in Tampa

by Alex Tostado March 26, 2019

TAMPA, FLA. — SkyView Advisors has arranged the sale of Seminole & Heights Self Storage, a 65,224-square-foot facility in Tampa. Located on a 2.1-acre site at 1011 E. Dr. Martin Luther King Jr. Blvd., the property offers nine non-climate-controlled units and 625 climate-controlled units. The buyer and sales price were not disclosed. Ryan Clark of SkyView Advisors represented the undisclosed seller.

March 26, 2019

Newer Posts

Older Posts