Florida

Summit Contracting Breaks Ground on 117-Unit Apartment Development in Jacksonville

by Alex Tostado September 28, 2020

JACKSONVILLE, FLA. — Summit Contracting Group has broken ground on Lofts at Murray Hill, a 117-unit apartment complex in Jacksonville’s Murray Hill neighborhood. Communal amenities will include a fitness center, club room, resident lounge and a dog walk area. The four-story community will also offer 11,000 square feet of ground-level retail space. Designed by Group 4 Design Inc., Lofts at Murray Hill is located at 840 Edgewood Ave. S., five miles southwest of downtown Jacksonville. The developer, The Vestcor Cos., expects to deliver the property in fall 2021. The mixed-income property will offer units at market rate, and for workforce and affordable housing.

September 28, 2020

Development Florida Multifamily Southeast

Daniel Corp. to Break Ground on $60M Multifamily Community in Pensacola

by Alex Tostado September 25, 2020

PENSACOLA, FLA. — Daniel Corp. plans to break ground on a $60 million, a 336-unit multifamily community in Pensacola. The yet-to-be-named property will be situated within Pathstone, a master-planned community featuring more than 200 single-family homes and 75,000 square feet of retail space. Additionally, the community will be situated across the street from Navy Federal Credit Union’s campus on Nine Mile Road, which houses 8,500 employees. The Birmingham, Ala.-based developer expects to deliver the property in fall 2021.

September 25, 2020

Company News Florida Restaurant Retail Southeast

Darden Restaurants Reports 28.4 Percent Slide in Fiscal First-Quarter Sales

by Alex Tostado September 24, 2020

ORLANDO, FLA. — Darden Restaurants Inc. (NYSE: DRI) has reported its sales fell 28.4 percent in its fiscal first quarter, which ended Aug. 30. The Orlando-based company owns restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. Darden reported that sales in its fine dining restaurants fell 38.9 percent year-over-year. Sales at Olive Garden slid 27.7 percent, while LongHorn saw a decrease of 16.3 percent. At the beginning of its first quarter, Darden had 68 percent of restaurants in its portfolio open, compared with 91 percent on Sept. 1. Despite the fall in sales, Darden is still progressing with its full-year outlook, which includes the addition of 35 to 40 new restaurants and total capital spending of $250 million to $300 million. As of Aug. 30, Darden operated 1,807 restaurants.

September 24, 2020

Development Florida Industrial Southeast

Seefried, Clarion Partners Deliver 1.1 MSF Industrial Facility in Central Florida

by Alex Tostado September 23, 2020

DELTONA, FLA. — Seefried Industrial Properties and Clarion Partners LLC have delivered a 1.1 million-square-foot industrial facility in Deltona. The building features 34,275 square feet of office space, 1,034 auto parking spaces and 350 trailer parking spaces. The property is situated on North Normandy Boulevard along Interstate 4, about 30 miles north of downtown Orlando. The tenant, an undisclosed e-commerce company, expects to house 500 employees at the facility. The joint venture began construction nine months ago with the design team, which includes general contractor The Conlan Co., architect Ford & Associates and civil engineer Kimley-Horn.

September 23, 2020

Development Florida Multifamily Southeast Student Housing

BCDC, 908 Group Break Ground on 294-Bed Student Housing Community Near University of Florida

by Alex Tostado September 23, 2020

GAINESVILLE, FLA. — A joint venture between Batson-Cook Development Co. (BCDC) and 908 Group has broken ground on Gator Walk, a 294-bed student housing development located near the University of Florida campus in Gainesville. The community will comprise a six-story residential tower offering one-, two-, three-, four- and five-bedroom units; and three three-story townhomes offering six-bedroom units. All units will be fully furnished and will feature bed-to-bath parity. Communal amenities will include a rooftop deck with a pool, fitness center, private study spaces, computer room and a social lounge with a kitchen, TVs and gaming areas. Cadence Bank provided construction financing. The project’s development team includes general contractor ARCO/Murray and architect Design Styles Architecture. The community is scheduled for completion in fall 2022.

September 23, 2020

Development Florida Retail Southeast

Miller Construction Breaks Ground on 114,000 SF Showroom for City Furniture in Metro Orlando

by Alex Tostado September 22, 2020

ALTAMONTE SPRINGS, FLA. — Miller Construction has broken ground on a 114,000-square-foot, two-story showroom for Florida-based City Furniture in Altamonte Springs. The property is situated at 555 Douglas Ave., overlooking Interstate 4 and 10 miles north of downtown Orlando. Miller is constructing the asset to achieve LEED certification. The property will include interior and exterior LED lighting, a water-conserving HVAC system and seven electric car-charging stations. Deerfield Beach, Fla.-based Gallo Herbert Architects is the designer. Orlando-based Dewberry is the civil engineer. A timeline for construction was not disclosed. City Furniture operates 20 showrooms in Florida as well as 14 Ashley HomeStore showrooms in southern Florida.

September 22, 2020

Acquisitions Florida Multifamily Southeast

Cardone Capital Acquires 553-Unit Apartment Complex in Fort Lauderdale

by Alex Tostado September 21, 2020

FORT LAUDERDALE, FLA. — Cardone Capital LLC has acquired Port Royale Apartments, a 553-unit multifamily community in Fort Lauderdale. The sales price was not disclosed, although Cardone Capital raised $50 million through crowdfunding and CBRE arranged a 10-year acquisition loan with a fixed 2.3 percent interest rate. The property, which was built in 1991 and renovated in 2016, offers one- and two-bedroom floor plans. Communal amenities include a car wash area, two pools, fitness center and a courtyard. Robert Given of Cushman & Wakefield represented the seller, Chicago-based Waterton, in the transaction.

September 21, 2020

Development Florida Multifamily Southeast

Ram Realty Advisors Delivers 243-Unit Multifamily Community in Fort Lauderdale

by Alex Tostado September 17, 2020

FORT LAUDERDALE, FLA. — Ram Realty Advisors has delivered CURV, a 243-unit multifamily community in Fort Lauderdale. The property offers one-, two- and three-bedroom floor plans ranging from 748 to 1,603 square feet with rents starting at $2,010 per month. Communal amenities include a pool, private cabanas, outdoor kitchen with grills and a TV, fitness center, yoga studio, pet grooming salon and electric car chargers. CURV is situated at 410 SE 16th Court, two miles south of downtown Fort Lauderdale. Bozzuto manages and heads leasing for the eight-story asset. Virtual leasing is underway at CURV, which is named for its curved facade reminiscent of Miami decor in the 1950s and 1960s. The City of Fort Lauderdale issued the developer a temporary certificate of occupancy Aug. 26.

September 17, 2020

Florida Loans Multifamily Southeast Student Housing

Berkadia Arranges $23M Refinancing Loan for Student Housing Community Near Florida State University

by Alex Tostado September 16, 2020

TALLAHASSEE, FLA. — Berkadia has arranged a $23 million refinancing loan for College Town II, a 198-bed student housing community in downtown Tallahassee. Ameris Bank provided the 10-year term loan, which features a fixed 3.66 percent interest rate. The loan will be used to refinance the original construction loan, which Berkadia also arranged in 2015. The borrower is Seminole Boosters, the fundraising arm for Florida State University Athletics. College Town II comprises five seven-story buildings, 23,177 square feet of retail space and a seven-story parking garage. Retail tenants in the project include Township, 51 on Madison, Tin Lizzy’s Taqueria & Cantina, Barefoot Campus Outfitters, Little Masa and Sunstop Urban Market. The community is located at 805 W. Madison St., a half-mile from Florida State University (FSU) and two miles from Florida A&M University (FAMU). Brad Williamson of Berkadia arranged the loan on behalf of the borrower.

September 16, 2020

Development Florida Hospitality Southeast

Epelboim Development Delivers First Tru by Hilton Hotel in Orlando

by Alex Tostado September 15, 2020

ORLANDO, FLA. — Epelboim Development Group has delivered the 259-room Tru by Hilton Orlando Convention Center. The new hotel, which opened Sept. 3, marks Tru by Hilton’s largest property to-date and first in Orlando. The hotel is located at 6461 Westwood Blvd., nine miles northeast of the Orlando Convention Center and 13 miles southwest of downtown Orlando. The eight-story hotel offers complimentary Wi-Fi, free parking, a pool, fitness center and a business center. The Aventura, Fla.-based developer opened the property with Centers for Disease Control and Prevention (CDC) guidelines in place. The Hilton CleanStay Program has been implemented at the property, and some services and amenities have been adjusted in response to COVID-19. New York City-based Highgate is managing the hotel.

September 15, 2020

Newer Posts

Older Posts