Florida

Walker & Dunlop Secures $120M Refinancing for Mixed-Property Portfolio in Metro Miami

by Camren Skelton August 13, 2018

MIAMI LAKES, FLA. — Walker & Dunlop has secured a $120 million loan for the refinancing of the Graham Portfolio, a 29-property portfolio in Miami Lakes, a master-planned community located less than 20 miles northwest of Miami. The 1.2 million-square-foot portfolio includes retail, office, industrial, flex, multifamily and ground lease assets. Al Rex, Marty McGrogan and Ariel Zucker of Walker & Dunlop arranged the 15-year, non-recourse loan on behalf of the borrower, the Graham Cos., which developed the properties within the portfolio. An unnamed life insurance company provided the loan. All of the properties included in the Graham Portfolio are located within a mile of downtown Miami Lakes and many are anchored by tenants such as CVS/pharmacy, Burger King and Publix.

August 13, 2018

Florida Loans Multifamily Southeast

Berkadia Provides $36.2M Fannie Mae Loan for New Apartment Community in Jacksonville

by Camren Skelton August 13, 2018

JACKSONVILLE, FLA. — Berkadia has provided a $36.2 million Fannie Mae loan for the acquisition of Portiva, a 260-unit apartment community located at 6898 Skinner Parkway in Jacksonville. Mitch Sinberg, Matt Robbins and Wesley Moczul of Berkadia arranged the 12-year, fixed-rate loan on behalf of the borrower, Myers Apartment Group, which acquired the property for $50.7 million. Portiva was constructed in 2018 and includes a mix of one- to three-bedroom apartment units. Community amenities include a saltwater pool, pet park and spa, bocce ball court, yoga/cross-training center, outdoor fire pits, bike storage and repair station and a car wash station.

August 13, 2018

Acquisitions Florida Retail Southeast

Time Equities Acquires Shopping Center in Southwest Florida for $15.5M

by Camren Skelton August 13, 2018

INVERNESS, FLA. — Time Equities Inc. (TEI) has acquired Citrus Center, a 142,196-square-foot shopping center in Inverness, for $15.5 million. Casey Rosen and Dennis Carson of CBRE arranged the transaction on behalf of the seller, an affiliate of McKinley Cos. TEI’s Ami Ziff, Jonathan Kim and Adam Levitt represented the company internally. T.J. Maxx anchors Citrus Center, which was 98 percent leased at the time of sale. Additional tenants include Regal Cinemas and Office Max. Bealls Outlet shadow-anchors the center.

August 13, 2018

Florida Loans Multifamily Southeast

Walker & Dunlop Arranges $53.6M Bridge Loan for Acquisition of Multifamily Portfolio in Jacksonville

by Camren Skelton August 10, 2018

JACKSONVILLE, FLA. — Walker & Dunlop Inc. has arranged a $53.6 million bridge loan for the acquisition of a five-property multifamily portfolio in Jacksonville. Alex Inman of Walker & Dunlop arranged the cross-collateralized financing on behalf of the borrower, S2 Capital LLC. The Walker & Dunlop team also negotiated special release provisions that allow the borrower to sell individual properties if desired. The 1,104-unit portfolio includes Eagle Pointe I & II, Arlington Eagle, Eagle Court, Jacksonville Village and Eagle Ridge. The properties were originally constructed in the 1960s. S2 Capital plans to complete a value-add program for each property, including improvements to common amenities, interior upgrades and rebranding. Community amenities across the portfolio include pools, outdoor space, laundry facilities, fitness centers and leasing offices.

August 10, 2018

Acquisitions Florida Office Southeast

Cushman & Wakefield Brokers $52M Sale of Office Portfolio in Tampa

by Camren Skelton August 10, 2018

TAMPA, FLA. — Cushman & Wakefield has brokered the $52 million sale of The Collection at Sabal Park, a 435,837-square-foot office portfolio in Tampa. The portfolio includes eight buildings located at 10117, 10002, 9950 and 9720 Princess Palm Ave. and 3923-3295, 3901, 3829 and 3922 Coconut Palm Drive. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield arranged the transaction on behalf of the seller, IP Capital Partners. Priam Capital acquired the assets, which are located within Sabal Park, a 4.8 million-square-foot, master-planned business park located less than 10 miles northeast of downtown Tampa. The portfolio was 86 percent leased at the time of sale to tenants such as Coca-Cola, Permanent General, U.S. Army Corps of Engineers, Sodexo, Advantage Sales & Marketing and Taylor Morrison. Priam Capital has retained Mercedes Angell and Lauren Coup of Cushman & Wakefield to handle the portfolio’s leasing assignment. The team was originally awarded the listing when IP Capital Partners acquired the portfolio in 2014.

August 10, 2018

Development Florida Retail Southeast

Halvorsen Holdings to Develop $23M Publix-Anchored Retail Center in Central Florida

by Camren Skelton August 9, 2018

LOUGHMAN, FLA. — Halvorsen Holdings has unveiled plans to develop Loughman Crossing, a 78,200-square-foot retail center that will be located along Poinciana Parkway in Loughman, a city roughly 30 miles south of Orlando. Publix will anchor the $23 million development, which is approximately 40 percent preleased. Committed tenants include pending deals with a national hamburger restaurant chain, a national dental service provider and a national gas/convenience store operator. Three of the six outparcels around the perimeter of the site are available for sale or ground lease. The newly opened Poinciana Parkway is a nine-mile extension of Ronald Reagan Parkway. A construction timeline for Loughman Crossing was not disclosed.

August 9, 2018

Acquisitions Florida Multifamily Southeast

CBRE Arranges Sale of 876-Unit Multifamily Community in Central Florida

by Camren Skelton August 8, 2018

ALTAMONTE SPRINGS, FLA. — CBRE has arranged the sale of Timberlake & The Glades, an 876-unit multifamily community in Altamonte Springs, roughly 10 miles north of Orlando. The exact sales price and name of the buyer were not disclosed, but sources familiar with the transaction report the property sold for more than $110 million — the largest multifamily sale in Orlando’s history, according to CBRE. Shelton Granade, Luke Wickham and Justin Basquill of CBRE arranged the transaction on behalf of the seller, a partnership between GoldOller Real Estate Investments and The Family Office. Timberlake & The Glades are two contiguous phases that were completed in 1986. Community amenities include four swimming pools, two fitness centers and tennis courts. In addition, the property is located within walking distance to several restaurants and a Publix-anchored shopping center.

August 8, 2018

Development Florida Retail Southeast

Topgolf to Open Second Miami-Area Location on Friday

by Camren Skelton August 8, 2018

DORAL, FLA. — Golf entertainment concept Topgolf will open its second Miami-area location on Friday, Aug. 10. The three-level, 65,000-square-foot venue is located at 11850 N.W. 22nd St. in Doral, roughly 15 miles northwest of Miami. Topgolf features food and beverage options, big screen TVs, private event spaces and music in climate-controlled hitting bays. The entertainment concept has four existing locations in Florida in Jacksonville, Miami Gardens, Orlando and Tampa. The Doral location marks the brand’s 45th venue worldwide.

August 8, 2018

Acquisitions Florida Georgia Healthcare North Carolina Southeast Tennessee Virginia

Catalyst HRE Acquires Healthcare Portfolio Located Across Eight States for $150M

by Camren Skelton August 7, 2018

PENSACOLA, FLA. — Pensacola-based Catalyst Healthcare Real Estate (Catalyst HRE) has acquired a 21-property healthcare portfolio for $150 million. Of the properties, 17 were purchased directly from Physicians Realty Trust. The portfolio is located across eight states and totals 530,182 square feet. Florida has the most significant square footage of buildings at 149,824, and Tennessee has the largest number of buildings at six. The rest of the properties are located in Georgia, Texas, Virginia, Illinois, Indiana and North Carolina. Regional and hospital orthopaedic, oncology, neurology and surgical practices represent 40 percent of the portfolio’s leased space; primary care and internal medicine practices of regional and hospital tenants represent 33 percent; and women’s health and gastroenterology combined represent 10 percent of the leased space. The remainder of the portfolio is leased to physical therapy, imaging, behavioral health and pain management providers. Capital One provided senior debt financing for the acquisition.

August 7, 2018

Acquisitions Florida Retail Southeast

HFF Brokers Sale of 178,557 SF Retail Center in Florida Panhandle

by Camren Skelton August 7, 2018

PENSACOLA, FLA. — HFF has brokered the sale of Tradewinds Shopping Center, a 178,557-square-foot retail center in Pensacola. Brad Peterson and Whitaker Leonhardt of HFF arranged the transaction on behalf of the undisclosed seller. Hackney Real Estate Partners acquired the asset. Tradewinds Shopping Center was 91.8 percent leased at the time of sale to a T.J. Maxx/HomeGoods combination store, Jo-Ann Fabric & Crafts, Shoe Station, Tuesday Morning, Dollar General, Sprint, Massage Envy, GNC and Advanced Dental Care.

August 7, 2018

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