Florida

Central Florida Business Park Winter Haven

WINTER HAVEN, FLA. — Colliers International has brokered the $9.7 million sale of Central Florida Business Park, a 10-building, 821,000-square-foot industrial park located on 52 acres at 5300 Recker Highway in Winter Haven. Boulder, Colo.-based Legacy Capital Partners purchased the park from an undisclosed, multi-billion dollar global private equity firm. The transaction is the second-largest industrial sale in Central Florida year-to-date, according to Colliers. Central Florida Business Park was 75 percent leased at the time of sale to six different tenants. Fred Beasley of Colliers International’s Central Florida office represented the seller in the transaction.

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Four Corners Business Park Davenport

DAVENPORT, FLA. — Atlanta-based MDH Partners has purchased 52 acres within Four Corners Business Park, an industrial campus located at the intersection of I-4 and U.S. Route 27 in Davenport, roughly 15 miles southwest of Orlando. MDH plans to develop three spec industrial buildings totaling 793,168 square feet at the site. The first two buildings, a 391,928-square-foot cross-dock building and a 112,580-square-foot rear-load building, are slated to begin construction immediately in time for a June 2016 occupancy. The third building, a 288,660-square-foot rear-load facility, will be ready for a late 2016 occupancy or is available earlier subject to potential build-to-suit opportunities. Lee Morris of Colliers International and Dave Buckner of Buckner Commercial Properties will jointly market the buildings for lease. JLL will provide property management on behalf of MDH.

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The Shops at Sunset Place Miami

MIAMI — Federal Realty Investment Trust, alongside partners Grass River Property and The Comras Co., has acquired an 85 percent interest in The Shops at Sunset Place, a 515,000-square-foot mixed-use center located in Miami. The $110 million transaction includes the assumption of an existing $70.8 million mortgage with an interest rate of 5.6 percent and maturity date of September 2020. The center comprises 408,000 square feet of retail and 107,000 square feet of office space with a 1,700-square-foot parking garage. Tenants at the center include AMC Theatres, LA Fitness, Barnes & Noble, Forever 21, Splitsville and Z-Gallerie.

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Victoria Place Orlando

ORLANDO, FLA. — Institutional Property Advisors Capital Markets (IPA Capital Markets) has arranged $35.2 million in acquisition financing for Victoria Place, a 364-unit apartment community located at 12612 Victoria Place Circle in Orlando. Jake Roberts and Anita Paryani of IPA Capital Markets arranged the 15-year loan with a fixed 4.78 percent interest rate and a 30-year amortization schedule. The loan features 10 years of interest-only payments.

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Berry Town Center Publix Davenport

DAVENPORT, FLA. — Phillips Edison Grocery Center REIT II Inc. has acquired Berry Town Center, a 99,441-square-foot, Publix-anchored shopping center located 15 miles southwest of Orlando in Davenport. The REIT purchased the shopping center from Sabal Financial Group for $13.1 million. Berry Town Center’s tenant roster includes Leslie’s Pool Supplies, Regis and Linksters Tap Room. CBRE represented the seller in the transaction.

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Integra Meadows at ChampionsGate Davenport

DAVENPORT, FLA. — Grandbridge Real Estate Capital has closed a $29.5 million acquisition loan for Integra Meadows at ChampionsGate, an apartment community within ChampionsGate, a premier golf course resort in Davenport. The property is within 15 minutes from the Walt Disney World Resort and Celebration, a master-planned community originally developed by The Walt Disney Co. Taylor Williams and Purvesh Gosalia of Grandbridge originated the fixed-rate, non-recourse loan through BB&T Real Estate Funding.

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Ashley Club Apartments Pensacola

PENSACOLA, FLA. — Multi Housing Advisors (MHA) has brokered the $27.1 million sale of two apartment communities in Pensacola. Totaling 392 units, the properties include Arbor Club Apartments and Ashley Club Apartments. ApexOne purchased the assets from Greystone and plans to make capital improvements to the two properties. Both communities had 50 percent of their unit interiors upgraded by the seller prior to the sale. Jimmy Adams of MHA’s Birmingham, Ala., office represented Greystone in the transaction.

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Atria at Villages of Windsor Lake Worth

LAKE WORTH, FLA. — Big Rock Partners, a national real estate management and development firm, will begin construction this month on Atria at Villages of Windsor, a Class A seniors housing community in southern Palm Beach County. Big Rock is developing the community on a 22.5-acre site in the Villages of Windsor development. The new community will offer a total of 186 independent living units, 78 assisted living apartments and a 54-unit memory care building. Ventas Inc., one of the largest REITs in seniors housing, will provide equity capital and be the principal owner of the community when finished. Wells Fargo will provide construction financing. The finance advisor is Walker & Dunlop. Gensler is providing architectural services, and Moss & Associates is the construction manager. Atria Senior Living, which operates 180 senior living communities throughout the U.S. and Canada, will operate and market the community. Big Rock expects the community to open in the summer of 2017.

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Elan Towne Center Sanford

SANFORD, FLA. — Walker & Dunlop has closed a $41.2 million loan for Elan Towne Center, a 360-unit luxury apartment community in Sanford, roughly 24 miles north of Orlando. Built in 2014, the Class A property features a cyber café, coffee bar, valet door-to-door trash pickup, club room with billiards, private detached garages and a dog park. The community was more than 90 percent occupied at the time of financing. Paul Ahmed led Walker & Dunlop’s team to originate the 15-year loan on behalf of the undisclosed borrower.

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Northwest Plaza Tampa LA Fitness

TAMPA, FLA. — HFF has arranged the $7.7 million sale of Northwest Plaza, a 46,904-square-foot shopping center located in Tampa’s Citrus Park area; and the $6.7 million sale of Suncoast Crossing, a 29,289-square-foot shopping center located in the Tampa suburb of Odessa. Brad Peterson and Whitaker Leonhardt of HFF represented the seller, Redstone Investments, in the transaction. Cole Credit Property Trust IV Inc. (CCPT IV) acquired Northwest Plaza and APTT Investments LLC acquired Suncoast Crossing in two separate transactions. VEREIT Inc. worked on behalf of CCPT IV in the purchase of Northwest Plaza. Both centers were fully occupied at the time of sale.

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