Florida

SRS Real Estate Negotiates $94M Sale of Seven EoS Fitness-Occupied Properties in Arizona, Florida

by Amy Works August 16, 2023

ARIZONA AND FLORIDA — SRS Real Estate Partners has arranged the sale of seven single-tenant EoS Fitness properties in Arizona and Florida for a combined purchase price of $94 million. Barclay Group sold the properties to a publicly traded REIT. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller. Tyler McRae of SRS, along with Echelon Realty Advisors, were responsible for leasing the assets on behalf of EoS Fitness. The portfolio comprises three new-construction gyms that opened in 2023, as well as four formerly vacant grocery stores that are currently undergoing redevelopment. All of the properties have 15-year, corporate-guaranteed, triple-net leases in place with scheduled rental increases. The properties include:

August 16, 2023

Acquisitions Florida Illinois Midwest Retail Southeast Top Stories

Aldi to Acquire Winn-Dixie, Harveys Supermarket from Southeastern Grocers

by Kristin Harlow August 16, 2023

BATAVIA, ILL. AND JACKSONVILLE, FLA. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Ill., first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the region. Most recently, Aldi opened its 26th regional headquarters and distribution center in Loxley, Ala., to help support new stores in the region. The retailer plans to open 20 new locations in the area by the end of the year. Jason Hart, CEO of Aldi, says the acquisition supports Aldi’s long-term growth strategy across the country. The grocer plans to open 120 new stores this year to reach a total of more than 2,400 stores by year’s end. Aldi will evaluate which Winn-Dixie and Harveys locations will be converted into Aldi stores. The stores that are not converted will continue to operate under the Winn-Dixie and Harveys brands. Deutsche Bank served …

August 16, 2023

Development Florida Industrial Southeast

Seagis Property Group Nears Completion of 118,000 SF Industrial Facility Near Miami International Airport

by John Nelson August 15, 2023

DORAL, FLA. — Pennsylvania-based Seagis Property Group is nearing completion of a 118,000-square-foot warehouse project near the cargo entrance of Miami International Airport. The speculative facility, which is estimated as being 75 percent complete, is located at 8315 N.W. 27th St. in Doral. Situated within Transal Park, the rear-load warehouse will feature 32-foot clear heights, 32 dock doors and 110 automobile parking spaces. Sebastian Juncadella and Jose Juncadella of Fairchild Partners are marketing the project for lease on behalf of Seagis, which expects to deliver the property by the end of the year.

August 15, 2023

Development Florida Restaurant Retail Southeast

Barron Colliers Breaks Ground on 21,000 SF Retail Strip Center in Southwest Florida

by John Nelson August 15, 2023

AVE MARIA, FLA. — Barron Collier Cos. has broken ground on a new 21,000-square-foot retail strip center in Ave Maria, a master-planned community in Southwest Florida. Located at the corner of Ave Maria Boulevard and Anthem Parkway, the property will house NCH Immediate Care Center, Ace Hardware, Dunkin’, Ledo Pizza and Cold Stone Creamery. Barron Colliers plans to open the retail center in summer 2024. According to the Naples, Fla.-based developer, about 430 homes have been sold in the Ave Maria community so far this year.

August 15, 2023

Acquisitions Florida Seniors Housing Southeast

Grandbridge Arranges Sale of Three Seniors Housing Communities in Florida

by John Nelson August 14, 2023

BROOKSVILLE, LAKE PLACID AND SPRING HILL, FLA. — Grandbridge Real Estate Capital has arranged the sale of three seniors housing communities in Florida on behalf of a national REIT. Florida-based TJM Properties Inc. acquired two of the properties: The Grande, a 144-unit independent living, assisted living and memory care community in Brooksville, and Balmoral, a 125-unit assisted living and memory care community in Lake Placid. An undisclosed, Florida-based buyer purchased the third property — Forest Oaks, an 80-unit assisted living and memory care community in Spring Hill. This sale completes the disposition of a portfolio totaling eight properties that Grandbridge arranged for the seller. Dave Kliewer and Jay Jordan led the Grandbridge team in selling the communities.

August 14, 2023

Affordable Housing Development Florida Southeast

HTG Delivers $21.9M Affordable Housing Community in Metro Jacksonville

by John Nelson August 14, 2023

MIDDLEBURG, FLA. — Housing Trust Group (HTG) has completed the development of the Apartments at Bryce Landing, a $21.9 million affordable housing project in Middleburg, roughly 30 miles outside of Jacksonville. Located at 1914 Bryce Landing Way, the community features one-, two- and three-bedroom apartments across four buildings. Apartments range from 717 to 1,191 square feet, and amenities include a fitness center, media center, swimming pool, playground, picnic pavilion and a 15,000-square-foot park. Units will be reserved for residents earning at or below 30 and 60 percent of the area median income (AMI), and residents will have access to literacy training, financial assistance and employment assistance services. JPMorgan Chase provided a $16.5 million construction loan and a $6.3 million permanent loan for the project. Funding also included $1.7 million in annual low-income housing tax credits (LIHTC) provided by Florida Housing Finance Corp. through Raymond James Tax Credit Funds. Kellogg & Kimsey was the general contractor for the development, and Fugleberg Koch was the architect. Landscape architect Wood and Partners and engineering firm CHW Consultants were also part of the project team.

August 14, 2023

Acquisitions Development Florida Multifamily Southeast

Avison Young Brokers $38M Sale of Multifamily Development Site in Miami

by John Nelson August 11, 2023

MIAMI — Avison Young has brokered the $38 million sale of a 7.9-acre multifamily development site located at 1556 110th Ave. in Miami. The site is approved for a 690-unit, 10-story project, dubbed Dolphin Square. David Duckworth, Michael Fay, John Crotty, Brian de la Fé and Wayne Schuchts of Avison Young arranged the transaction on behalf of the seller, Boca Raton, Fla.-based Procacci Development Corp. Leo A Daly designed the current site plan for the project, which is located near Dolphin Mall.

August 11, 2023

Development Florida Multifamily Southeast

ANF Completes Construction of 212-Unit Eden West Multifamily Community in Tamarac, Florida

by John Nelson August 11, 2023

TAMARAC, FLA. — ANF Group has completed the construction of Eden West, a 212-unit multifamily community in Tamarac. The firm completed the construction on behalf of the developers, EDEN Multifamily and Sterling Equities. Located at 8601 West McNab Road, the property features apartments in one-, two- and three-bedroom layouts, ranging from 598 to 1,388 square feet. Amenities at the community include a saltwater pool, fitness center, club room, veranda with an outdoor kitchen, game room and coworking spaces. The property also includes 300 parking spaces and electric vehicle charging stations.

August 11, 2023

Development Florida Hospitality Loans Southeast

Madison Realty Capital Originates $240M Acquisition Loan for Orlando Resort

by John Nelson August 10, 2023

ORLANDO, FLA. — Madison Realty Capital has originated a $240 million acquisition loan for a 526-unit single-family rental development underway in Orlando. The borrowers, Baseline Property Group and JSB Capital Group, also secured a $40 million mezzanine loan from a private foreign family office. The previous owner was not disclosed. Baseline’s sister company, Villatel, will operate the units as resort-style, short-term rentals upon completion. Situated on 77 acres along International Drive, the Villatel Orlando Resort will comprise 256 condominiums, 200 townhomes and 70 single-family homes. Many units will include private pools, movie theaters and arcade and gaming spaces. The resort will also feature a private $20 million amenity center that will include a clubhouse, water park with seven slides, lazy river, water playground, pool, fitness center, golfing swing suite, arcades, children’s playrooms and eateries. The resort’s initial homes are expected to be available for rent in the fourth quarter, and all units are expected to be delivered into the rental pool by summer 2025.

August 10, 2023

Development Florida Multifamily Southeast

Calta Group Breaks Ground on 180-Unit Revv Apartment Community in Hollywood, Florida

by John Nelson August 9, 2023

HOLLYWOOD, FLA. — The Calta Group has broken ground on Revv, a 180-unit apartment community located at 2233 Hollywood Blvd. in the South Florida city of Hollywood. The property represents the first multifamily project for the Coral Gables, Fla.-based developer. Calta purchased the 1.6-acre site last year for $9.5 million and obtained a $60 million construction loan from BridgeInvest in April. Designed by Miami-based Borges Architects + Associates, Revv will rise eight stories and feature studios, live-work units and one- and two-bedroom apartments. Amenities will include a resort-style pool, coworking space, gym and ground-floor retail space. Calta plans to deliver Revv in the first quarter of 2025.

August 9, 2023

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