REBusinessOnline

Sysco Completes Expansion of 150,000 SF Food Processing Facility in Orlando

ORLANDO, FLA. — Sysco Corp., a global food distribution and marketing organization, has completed the expansion of FreshPoint Central Florida, a food processing facility located at 8801 Exchange Drive in Orlando. FreshPoint, Sysco’s specialty produce company, operates the facility. The expansion doubles the facility’s size to 150,000 square feet and includes a new culinary center for demonstrations and staging, new equipment for produce processing, LED lighting, energy-efficient coolers …

Partnership Breaks Ground on 55-Acre Mixed-Use Development in Naples, Florida

NAPLES, FLA. — Barron Collier Co. and Metro Commercial Development Group have broken ground on Founders Square, a 55-acre mixed-use development in Naples. The Pointe, a collection of restaurants and other service and retail tenants, will anchor the project. At full buildout, the project will include The Haldeman, a 400-unit multifamily complex; a 35,000-square-foot medical office building adjacent to The Pointe; and a 110,000-square-foot self-storage facility. Atlanta-based Davis Group will …

Three Multifamily Broker Veterans Join IPA, Expanding Firm’s Central Florida Office

ORLANDO, FLA. — Shelton Granade, Luke Wickham and Justin Basquill have joined the Orlando office of Institutional Property Advisors (IPA), a division of Marcus & Millichap. Granade joins the firm as an executive managing director. Wickham and Basquill join the firm as senior managing director and first vice president, respectively. As a team, the three brokers have closed more than $10 billion in sales. All three brokers were formally with CBRE. “The addition of this outstanding team …

TPG Real Estate Acquires Jacksonville Town Center Office Campus for $107M

JACKSONVILLE, FLA. — TPG Real Estate, a San Francisco-based investment firm, has acquired Town Center One and Two, a 374,123-square-foot office campus in Jacksonville, for $107 million. The property spans 25 acres. It is located in the Deerwood Park area and features proximity to the Southside Quarter mixed-use development and St. Johns Town Center, an open-air shopping and dining destination. Town Center One is a five-story, 155,423-square-foot building that was 94 percent leased at …

Berkadia Arranges $140M in Construction Financing for Four Orlando Hotels Near Disney World

ORLANDO, FLA. — Berkadia has arranged $140 million in combined financing for four extended-stay hotels totaling nearly 1,000 rooms that will be part of Flamingo Crossings, a master-planned development located at the western entrance to the Walt Disney World Resort in Orlando. Justin Ownby of Berkadia’s Tampa office together with Adrienne Kautzman and Mauricio Rodriguez of Berkadia’s Hotels & Hospitality team arranged the financing on behalf of the borrower and developer, Huntsville, …

TD Bank Provides $28.6M in Construction Financing for Affordable Housing Complex in Fort Lauderdale

FORT LAUDERDALE, FLA. — TD Bank has provided $28.6 million in funding for the Housing Authority of the City of Fort Lauderdale (HACFL) to redevelop Suncrest Court, a 66-unit public housing community, by replacing it with 116 modern and affordable apartment units. TD Bank has provided a $16 million construction loan and its subsidiary Community Capital Group has provided $12.6 million in low income housing tax credits (LIHTCs). HACFL also received a State Apartment Incentive Loan (SAIL) from …

Ivy Realty Sells Miami Office Building for $30.4M

MIAMI — Greenwich, Conn.-based Ivy Realty has sold the Waterford Centre at Blue Lagoon office building in Miami for $30.4 million. An affiliate of Coral Gables-based Patton Real Estate Group bought the six-story property for $332 per square foot. The 91,431-square-foot office building is located on four acres at 6205 Blue Lagoon Drive. Miguel Alcivar, Dominic Montazemi, Scott O’Donnell and Mike Davis of Cushman & Wakefield’ s Capital Markets team represented Ivy Realty in the …

3650 REIT Provides $50M Construction Loan for Multifamily Community in Miami Gardens

MIAMI GARDENS, FLA. — 3650 REIT has provided a $50 million construction loan for the development of the Center at Miami Gardens, a 259-unit multifamily property to be located at 19279 NW 27th Ave. in Miami Gardens. Located 18 miles northwest of Miami and less than three miles from Interstate 95, the Center at Miami Gardens will feature three residential buildings and a clubhouse. Los Angeles-based multifamily developer The Latigo Group LLC broke ground in October 2019 and plans to deliver …

SRS Negotiates $10.9M Sale of Retail Center Near Daytona International Speedway

DAYTONA BEACH, FLA. — SRS Real Estate Partners has negotiated the $10.9 million sale of Speedway Village, a three-building, 28,075-square-foot retail center located directly across the street from Daytona International Speedway. The center was fully occupied at the time of sale to tenants including Verizon Wireless, Jimmy John’s, FedEx Office, The Vitamin Shoppe, Eyeglass World and Smashburger. The seller, Evans Speedway LLC, developed the property in 2008. The buyers, Ty and Tovah Lohman, …

Berkadia Secures $68.5M Acquisition Loan for New Multifamily Property Near Orlando

MAITLAND, FLA. — Berkadia has secured $68.5 million in acquisition financing for Town Trelago, a recently completed, 350-unit multifamily property in Maitland, a suburb seven miles north of Orlando. J. Tyler Blue, Ted Hermes, Nick Nicholson and Jonathan Pratt of Berkadia’s metro D.C. office secured the financing on behalf of the borrower, McLean, Va.-based Kettler Inc. An unnamed life company provided the 10-year, fixed-rate loan that features interest-only payments for half of the …

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