PENSACOLA, FLA. — PIA Residential has purchased Crystal Lake, a 224-unit value-add apartment complex in Pensacola, for $26.3 million. The property was 98 percent occupied at the time of sale. The buyer plans to upgrade unit interiors and improve the property. Communal amenities include a beach volleyball court, barbecue area, playground, car washing station, private lake stocked with bass and a dog park. Arbor Realty Trust provided the buyer with a Fannie Mae acquisition loan. Jimmy Adams and …
NAPLES, FLA. — SkyView Advisors has arranged the sale of a 1,001-unit self-storage facility in Naples. The 99,713-square-foot property is located on 4.3 acres at 3807 White Lake Blvd. Cameron Vale and Ryan Clark of SkyView Advisors represented the undisclosed seller in the transaction. Public Self Storage acquired the facility for an undisclosed
TAMPA, FLA. — Ready Capital has provided a $13.4 million acquisition loan to an undisclosed borrower for a 365,000-square-foot industrial building in Tampa. The borrower plans to renovate the property, including various interior repairs, HVAC replacement, roof repairs, fresh paint and parking lot maintenance. The non-recourse, floating-rate loan features a 36-month term, one extension plan and flexible prepayment options. Further details of the transaction were not
ORLANDO, FLA. — Development Ventures Group (DEVEN) and Ustler Development Inc., in a public-private partnership with the City of Orlando, have delivered UnionWest at Creative Village on the University of Central Florida’s campus. UnionWest is a 15-story building with 644 student housing beds, 100,000 square feet of academic space, 11,000 square feet of ground-level retail space and a 600-space parking garage. Construction on the $105 million development began in October 2017. The building …
TAMPA, FLA. — Westside Capital Group has acquired Watermans Crossing Apartments, a 337-unit multifamily community in Tampa’s Wellswood neighborhood, for $29.5 million. The property, which Westside Capital will rebrand as Westshore Crossing, comprises 20 buildings and offers studio through three-bedroom floor plans averaging 895 square feet. Communal amenities include a clubhouse, 876 parking spots, fitness center and three swimming pools. Westside plans to invest $5 million in capital …
LARGO, FLA. — CBRE has negotiated the $29.5 million sale of Enclave on East, a 196-unit multifamily complex in Largo. The property was 95 percent occupied at the time of sale. Enclave on East is located at 3660 E. Bay Drive, 20 miles west of downtown Tampa. Communal amenities include a swimming pool, playground, picnic tables, hammocks, clubhouse, business center and a car wash area. Shelton Granade, Luke Wickham, Justin Basquill, Michael Regan and Francesco Carriera of CBRE represented the …
MIAMI — A development partnership between New York City-based Property Markets Group (PMG) and Toronto-based Greybrook Realty Partners are currently developing 400 Biscayne, a mixed-use project offering 646 rental apartments in Miami. Slated for completion in 2021, the 49-story building will include 51,000 square feet of commercial space and a 22,000-square-foot redesigned First United Methodist Church of Miami. PMG originally bought the development site from the church in 2018 for $55 …
TAMPA, FLA. — A joint venture between Forge Capital Partners and Intown/Framework Group has sold 500 Harbour Island, a 235-unit, 21-story multifamily tower in downtown Tampa. The high-rise property offers one- and two-bedroom floor plans averaging 1,087 square feet. Communal amenities include a two-story lobby with a concierge, outdoor deck with dining and grilling areas, dog run, heated swimming pool, cabana area, conference room and a fitness center. Northwestern Mutual acquired 500 Harbour …
LAKE MARY, FLA. — Sonata Senior Living has announced plans to develop Sonata Lake Mary, a 193-unit seniors housing community in Lake Mary, approximately 15 miles north of Orlando. The four-story, 250,000-square-foot community will be located on a seven-acre site within Parkway Properties Inc.’s Lake Wellness & Technology Park mixed-use development. Sonata Lake Mary will feature 88 independent living, 92 assisted living and 13 memory care apartments. Sonata Senior Living expects to break …
WESLEY CHAPEL, FLA. — JLL has negotiated the $62.7 million sale of Grove at Wesley Chapel, a 471,279-square-foot shopping center that also includes 114 acres of developable land in Wesley Chapel. At the time of sale, tenants included Cost Plus World Market, Bed Bath & Beyond, Ulta Beauty, Dick’s Sporting Goods, T.J. Maxx, Ross Dress for Less, Old Navy, PetSmart, Best Buy, Dollar Tree, Michaels and Cobb Theatres. The property is located 23 miles north of downtown Tampa on 203.3 acres at …
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