REBusinessOnline

Berkadia Secures $43.2M in Acquisition Financing for Apartment Community in Metro Orlando

DAVENPORT, FLA. — Berkadia has secured $43.2 million in acquisition financing for Legends at ChampionsGate, a 252-unit multifamily community located outside of Orlando. Mitch Sinberg and Matthew Robbins of Berkadia secured the financing on behalf of Taurus Investment Holdings, which acquired the property for $53.8 million from an undisclosed seller.The three-year, floating-rate, interest-only loan was underwritten at a 75 percent loan-to-cost ratio and inclues additional funds to finance …

Acquisitions, Florida, Loans, Multifamily, Southeast

Newport Capital Partners Acquires 160,792 SF Colonial Oaks Shopping Center in Orlando

ORLANDO, FLA. — Newport Capital Partners has acquired West Colonial Oaks, a 160,792-square-foot, grocery-anchored shopping center situated on the southwest corner of West Colonial Drive and North Hiawassee Road in Orlando. Newport Capital acquired the property via its Newport Capital Partners Fund III. The property was sourced and acquired off-market from a private investor. Newmark arranged acquisition financing through Ameris Bank. The seller and sales price were not disclosed.West …

Acquisitions, Florida, Retail, Southeast

Tricera Capital Purchases ICON Central Retail Space in St. Petersburg for $11.1M

ST. PETERSBURG, FLA. — Tricera Capital has acquired a ground-floor retail space at Related Group’s recently completed ICON Central, a mixed-use development in St. Petersburg. The transaction totaled $11.1 million and included the adjoining Union Trust Bank building. In total, the ground-floor retail space and historic bank building span nearly 35,000 square feet of rentable space. Related Group was the seller.Currently, about 7,000 square feet of the retail space is leased to BurgerFi …

Acquisitions, Florida, Retail, Southeast

Miami Office Rent Growth Influenced by Influx of Tech Firms, New Capital Sources

The past year has been a long and winding ride, and some unexpected trends have been taking place in the Miami office market, between the onset of the COVID-19 pandemic and through its recovery to date.Logically, one would expect that an ongoing pandemic keeping corporate offices closed and employees working from home would negatively affect occupancy levels and lead to a deceleration in asking rents for office space. On the contrary, the Miami office market has remained solid, and while …

Florida, Market Reports, Office, Southeast, Southeast Market Reports

Sila Realty Trust Sells Data Center Portfolio to Mapletree Industrial for $1.3B

TAMPA, FLA. — Tampa-based Sila Realty Trust Inc. has sold 29 data centers across 18 states to Mapletree Industrial Trust, an industrial REIT listed on the Singapore Exchange. The sales price was approximately $1.3 billion. The transaction is expected to be completed in one or more closings during the third quarter of 2021.In total, the data center portfolio spans 3.3 million square feet of net leasable area. The portfolio is 87.8 percent leased to 32 tenants, including Fortune Global 500 …

Acquisitions, Data Centers, Florida, Southeast

Berkadia Secures $52M Refinancing for Pier 19 Residences & Marina in Miami

MIAMI — Berkadia has secured a $52 million bridge loan to refinance Pier 19 Residences & Marina, a 199-unit apartment community along Miami River. Charles Foschini and Christopher Apone of Berkadia secured the financing on behalf of the sponsor, Neology Life Development Group, a Miami-based residential and commercial real estate firm.LoanCore Capital originated the two-year, floating-rate loan with three 12-month extension options at a 72 percent loan-to-value ratio. Suzanne …

Florida, Loans, Multifamily, Southeast

Plaza Advisors Arranges Sale of 215,713 SF Horizon Park Shopping Center in Tampa

TAMPA, FLA. — Plaza Advisors has arranged the sale of Horizon Park, a 215,713-square-foot shopping center located at 3904 W Hillsborough Ave. in Tampa. An entity doing business as CRP II – Horizon Park LLC sold the property for $21.9 million. The buyer was not disclosed. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the only brokers involved in the transaction.Built in 1971, Horizon Park was renovated in 1980 and 1988 and was 86 percent leased at the …

Acquisitions, Florida, Retail, Southeast

CBRE Arranges $99.5M Sale of One Town Center Office Tower in Boca Raton

BOCA RATON, FLA. — CBRE has arranged the $99.5 million sale of One Town Center, a 191,294-square-foot office tower located in Boca Raton. Christian Lee, José Lobón, Amy Julian, Andrew Chilgren and Royce Rose of CBRE represented the seller, a joint venture between CP Group (formerly Crocker Partners) and Siguler Guff & Co. Michael Erickson from Tower Commercial Real Estate is the leasing broker for the property.The buyer is Singapore-based Prime US REIT. KBS serves as the U.S.-based …

Acquisitions, Florida, Office, Southeast

Madison Realty Capital Provides $105M Acquisition Loan for Four Seasons Hotel Miami

MIAMI — Madison Realty Capital, a New York City-based private real estate equity firm, has provided a $105 million loan to Miami-based developer Fort Partners for the acquisition and renovation of the Four Seasons Hotel Miami located in the city’s Brickell district.Located at 1435 Brickell Ave., Four Seasons Hotel Miami is a 221-room hotel that anchors a 70-story, mixed-use tower. The tower also features Class A office space, residential condominiums, an Equinox health club, retail …

Florida, Hospitality, Loans, Southeast

SRS Arranges Sales of Two Crunch Fitness-Occupied Properties in Florida Totaling $12.1M

LAKELAND AND MELBOURNE, FLA. — SRS Real Estate Partners has arranged the sale of two Crunch Fitness-occupied properties located in the Central Florida cities of Lakeland and Melbourne. The sales totaled $12.1 million.Matthew Mousavi, Patrick Luther and Patrick Nutt of SRS represented the seller, a Florida-based development firm, in the disposition of both properties to two separate buyers. Mousavi and Luther also represented the undisclosed buyers in the transactions, both of which are …

Acquisitions, Florida, Retail, Southeast
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