Florida

SRS Brokers $7.7M Sale of Canoe Creek Plaza in St. Cloud

by John Nelson January 30, 2015

ST. CLOUD, FLA. – The SRS Southeast Investment Sales team has brokered the $7.7 million sale of Canoe Creek Plaza, a 61,333-square-foot neighborhood shopping center in St. Cloud. The Winn Dixie-anchored property is located at 3318 Canoe Creek Road, which is situated just north of the intersection of Canoe Creek and Old Canoe Creek roads. The seller, Miller Group Development, sold the property to Canoe Creek SC LLC, an affiliate of Tricon Development. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer did not have brokerage representation.

January 30, 2015

Florida Multifamily Southeast

Marcus & Millichap Brokers $14.9M Sale of Multifamily Portfolio in South Beach

by John Nelson January 29, 2015

MIAMI BEACH, FLA. — Marcus & Millichap has brokered the $14.9 million sale of Lincoln Palms, a portfolio of five multifamily parcels totaling 66 units located off Lincoln Road in Miami Beach. The community comprises 35 studios, 28 one-bedroom apartments, two two-bedroom apartments and one four-bedroom townhouse. Apartment units feature ceramic tile and solid oak wood flooring, wall air-conditioning units and walk-in closets. Some units feature private patios or balconies. All five buildings have a connected courtyard with sitting areas and bicycle racks for residents. Arthur Porosoff of Marcus & Millichap’s Miami office represented the seller, a private investor from New York. Joseph Thomas and Frank Fausone of the firm’s Fort Lauderdale office secured the buyer, a private investor from Miami.

January 29, 2015

Cornerstone Square Shopping Center Macclenny

Florida Loans Retail Southeast

Integra Arranges $4M Loan for Shopping Center in Florida

by John Nelson January 29, 2015

MACCLENNY, FLA. — Integra Real Estate Capital, a commercial mortgage brokerage and advisory firm based in New York City, has secured a $4 million loan for the refinance of Cornerstone Square Shopping Center, a 111,681-square-foot property located in Macclenny. The center is anchored by Tractor Supply, Peebles, Dollar Tree, CATO and Hibbett Sporting Goods. Russell Kimyagarov of Integra arranged the non-recourse, 10-year loan on behalf of the borrower, a California-based ownership group.

January 29, 2015

Village Place Fort Lauderdale Housing Trust Group

Florida Multifamily Seniors Housing Southeast

Housing Trust Group Completes $15M Seniors Housing Community in Fort Lauderdale

by John Nelson January 28, 2015

FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) has completed the construction of Village Place Apartments, a $15 million, 112-unit senior affordable housing community for ages 55 and up. The mid-rise community is located at 720 N.E. 4th Ave. in downtown Fort Lauderdale, blocks from the Las Olas Boulevard district. The property, which is already 100 percent leased, features units with granite countertops, split-level designs and eco-friendly features such as low-flow plumbing fixtures, low-VOC paint, Energy-Star qualified appliances, Energy-Star windows and energy efficient HVAC systems. HTG and architect Sotolongo Salman Henderson of Miami have designed and constructed Village Place to be designated a green building in line with the National Green Building Standards. The apartment community includes a gated entrance, community center with computers and Wi-Fi access throughout, swimming pool and a fitness room with exercise equipment. Residents will also have access to The Wave Modern Streetcar transit system that is scheduled to open in 2017. Project financing was provided by U.S. Bank in the amount of $38.6 million through its community development subsidiary, including a $13.2 million construction loan; a $3 million permanent financing loan; and $22.4 million of Low-Income Housing Tax Credit (LIHTC) equity from U.S. Bancorp Community …

January 28, 2015

Art Avenue Apartment Homes Orlando Florida

Florida Multifamily Southeast

CBRE Brokers $47.1M Sale of New Apartment Community in Orlando

by John Nelson January 27, 2015

ORLANDO, FLA. — CBRE has brokered the $47.1 million sale of Art Avenue Apartment Homes, a new 300-unit luxury apartment community located at 10201 Lee Vista Blvd. in Orlando. An undisclosed entity purchased the property from the Rohdie Group, a residential real estate management firm. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction. Completed in 2014, the community features a large clubhouse, computer lounge, TV lounge, coffee bar, fitness center, children’s art room, outdoor fire pit and resort-style pool.

January 27, 2015

Florida Loans Multifamily Southeast

Oak Grove Capital Arranges $26.1M in Refinancing for San Marco Villas I & II

by John Nelson January 27, 2015

LAKE PARK, FLA. — Oak Grove Capital has arranged two refinance loans totaling $26.1 million for San Marco Villas I and II, two affordable housing communities. The two apartment communities in Lake Park span 400 units. Tim Leonhard of Oak Grove Capital arranged the two loans through Freddie Mac.

January 27, 2015

3800 N.E. Miami Court Poltrona Frau Group Miami

Florida Retail Southeast

RKF Brokers $26M Sale of Retail Property in Miami’s Design District

by John Nelson January 26, 2015

MIAMI — RKF has brokered the sale of a 22,248-square-foot retail property located at 3800 N.E. Miami Court in Miami’s Design District. Poltrona Frau Group Miami, a luxury furniture retailer, is the sole tenant of the newly constructed, two-story property. Benjamin Mandell, John Ellis and Marty Arrivo of RKF represented the buyer, Chicago-based L3 Capital LLC, in the transaction. The seller, Tirrenia Developments LLC, was represented in-house.

January 26, 2015

Royal Office Park Royal Palm Beach Florida CBRE

Florida Mixed-Use Southeast

CBRE Brokers $8.3M Sale of Office Park in Royal Palm Beach

by John Nelson January 26, 2015

ROYAL PALM BEACH, FLA. — CBRE has brokered the $8.3 million sale of Royal Office Park, a 28,656-square-foot mixed-use office and retail complex in Royal Palm Beach. The property is located at 420 S. State Road 7 adjacent to a 350,000-square-foot retail power center and Wellington, an international equestrian center. The Mediterranean-styled mixed-use complex features a landscaped perimeter and central courtyard with cobblestone walkways and hurricane-resistant glass storefronts and doors. Scott O’Donnell, Dominic Montazemi, Miguel Alcivar and Jason Hochman of CBRE represented the seller, Royal Office Park Ltd., in the transaction. Judge Moss of Banyan Realty Partners and Scott Weprin of Michael Falk & Co. represented the undisclosed buyer.

January 26, 2015

Citra at Windermere Florida NorthMarq Capital

Florida Loans Multifamily Southeast

NorthMarq Capital Arranges Acquisition Financing for Florida Apartment Community

by John Nelson January 26, 2015

WINDERMERE, FLA. — NorthMarq Capital has arranged acquisition financing for Citra at Windermere, a 360-unit apartment community located at 11353 Citra Circle in Windermere. Greg Duvall of NorthMarq Capital has arranged the 10.5-year loan with five years of interest-only payments and a 30-year amortization schedule. Duvall arranged the Freddie Mac loan on behalf of the undisclosed borrower.

January 26, 2015

Florida Hospitality Loans Southeast

HFF Arranges Financing for Three-Hotel Portfolio in Orlando

by John Nelson January 23, 2015

ORLANDO, FLA. — HFF has arranged financing for a three-property, 414-room hotel portfolio in Orlando. The properties include the 124-room Residence Inn Orlando Convention Center at 8800 Universal Blvd.; the 167-room SpringHill Suites Orlando Convention Center at 8840 Universal Blvd.; and the 123-room Hampton Inn Orlando International Airport at 5767 T.G. Lee Blvd. Each of the hotel properties were either renovated in 2013 or 2014. Michael Weinberg and Anthony Frogameni of HFF arranged the financing on behalf of the borrower, JHM Hotels.

January 23, 2015

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