MIAMI — Marcus & Millichap has brokered the $8.6 million sale of Village Shoppes, a 26,648-square-foot retail center located in the Little Havana neighborhood of Miami. Situated at 503-533 SW 12th Ave., the center comprises two parcels with multiple stores, 30 parking spaces and more than 325 feet of retail frontage. The property also allows for 40,000 square feet of future development of up to eight stories, according to Marcus & Millichap. Jonathan De La Rosa and Eddie Toledo of Marcus & Millichap’s Miami office marketed the property on behalf of the undisclosed seller and procured the buyer, an entity doing business as CMC VS LLC, in the transaction.
MIAMI — Miami-based Driftwood Capital has completed the $415 million recapitalization of a nationwide hospitality portfolio valued at $1.2 billion. The portfolio includes 18 Hilton-, Marriott- and Margaritaville-branded hotels totaling 4,203 rooms across 10 states. Wells Fargo led financing for the debt component of the transaction with a roughly $330 million securitized senior loan. ACORE Capital provided $85 million in preferred equity. Many of the properties are located in high-growth markets within California, Texas, Florida, North Carolina, Utah and New York. Prominent hotels include Margaritaville Lake Resort Lake of the Ozarks, Marriott San Diego Mission Valley, Hilton Dallas/Southlake Town Square, Canopy by Hilton West Palm Beach Downtown and Hotel Vesper in Houston. Each asset in the portfolio has either been newly built or comprehensively renovated in recent years. “This portfolio brings together some of the highest quality assets we own and operate, creating a uniquely cohesive investment opportunity for our partners,” says Carlos Rodriguez Sr., chairman and CEO of Driftwood. “We’ve intentionally assembled this particular portfolio of assets to reflect strength in markets, performance and long-term fundamentals.” Driftwood says the transaction marks a major milestone in its strategy to create scalable hospitality portfolios, designed to maximize value through operational control, …
TEMPLE TERRAE, FLA. — Denver-based BMC Investments has purchased Park at Valenza, a 776-unit apartment community located at 6900 Aruba Ave. in Temple Terrace, a suburb of Tampa. The seller and sales price were not disclosed, as well as BMC’s joint venture partner. The property was constructed in three phases from 1987 to 1996, and features a mix of one-, two- and three-bedroom units. Park at Valenza’s amenities include a lounge, gym, pool, basketball court and tennis courts. BMC is investing in capital improvements at the community, including new paint, roofing, siding, landscaping and parking lot work, as well as improvements to Park at Valenza’s amenities and some select units. A Prime Finance-sponsored fund provided acquisition financing.
AVE MARIA, FLA. — Barron Collier Cos. will soon open Midtown Plaza at Ave Maria, a 21,000-square-foot retail center located at 5360 Ave Maria Blvd. in Southwest Florida. Set for a grand opening event on May 17, the retail property is situated on the east side of Collier County within the Ave Maria master-planned community. Barron Collier achieved full occupancy at Midtown Plaza with the recent signings and openings of NCH Immediate Care and UMami Asian Fusion. Other tenants include Sunshine Ace Hardware, AM Nails, Cold Stone Creamery and Ledo Pizza. Dunkin’ occupies a corner suite at the property that features a drive-thru.
JACKSONVILLE, FLA. — Thorofare Capital has provided a $74 million bridge loan for the refinancing of The Residences at Enso, a 304-unit multifamily community located 20 miles east of downtown Jacksonville along the Saint Johns River. Jeff Kinney and Phil Rachels of CBRE’s Jacksonville office arranged the loan on behalf of the borrower, Trevato Development Group, which will use the 2.5-year floating-rate loan to repay the original construction loan on the property. The Residences at Enso is more than 90 percent leased and features nine, four-story buildings across 22 acres. Floorplans range from 669 square feet to 1,599 square feet in size, with carriage houses, studios and one-, two- and three-bedroom apartment options, according to Apartments.com. Amenities include a walk-in swimming pool with a sun shelf, 24-hour fitness and training studio, resident clubhouse with private event space, conference room and workspace seating, summer kitchen with seating, coffee bar and a pet spa. The property also offers a courtyard with landscaping, open-air pavilion and cabanas, outdoor fireplace and a nature trail.
JACKSONVILLE, FLA. — JLL Capital Markets has negotiated the $53.8 million sale of Imeson Commerce Center, a newly constructed, 422,136-square-foot distribution center in Jacksonville. Situated within Imeson Industrial Park near Jacksonville International Airport, the rear-load building features 36-foot clear heights, 81 dock-high doors, 260 car parking spaces and 180 trailer parking spaces. The facility is fully leased to RoadOne IntermodaLogistics, North America’s largest intermodal trucking provider, with 103,000 square feet of the property providing air-conditioned warehouse space. Luis Castillo, Cody Brais, Taylor Osborne and David Orta Jr. of JLL’s Investment Sales and Advisory team represented the sellers, North Signal Capital and Fox Capital Partners, in the transaction. CIP Real Estate was the buyer.
NORTH MIAMI FLA. — Avison Young has arranged the $16 million sale of Sans Souci Plaza, a 47,350-square-foot retail property located at 2104 and 2222 NE 123rd St. in North Miami. This acquisition marks the first time the center has been sold. The property — which is anchored by Zaika Indian Cuisine and Catch Specialty Fish Market — comprises two buildings constructed in 1974 and 1976. Michael Fay, John Crotty, David Duckworth, Brian de la Fé and Philip Shapiro of Avison Young represented the seller, Matthews Real Estate Partners, in the transaction. Mario Borda of BCRE (Borda Commercial Real Estate) represented the Aventura, Fla.-based buyer.
GAINESVILLE, FLA. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities in the United States. According to the property website, amenities include a fitness center with trainers, pool with a hot tub, tennis and pickleball courts, a reading room, hair salon, woodshop, housekeeping services and internet access. The community also offers scheduled transportation throughout the grounds and off-campus. The property sits across from Santa Fe College, a two-year community college, and within five miles of the University of Florida. SantaFe Healthcare has owned and managed The Village at Gainesville for more than 30 years and has overseen three expansion projects at the community from 1986 through 2009. The locally based healthcare owner-operator injected capital expenditures of $3 million annually into the …
NEW YORK CITY — Newmark Group has brokered the sale of a student housing portfolio situated across four states. Located near major public universities in Florida, Texas, Indiana and North Carolina, the portfolio comprises five properties housing 3,693 beds across 1,248 units. A joint venture between Nuveen and The Preiss Co. was the seller. The buyer and sales price were not disclosed, though Newmark states the transaction represents the largest U.S. student housing portfolio sale this year. The undisclosed communities serve students attending the University of Texas at Austin, North Carolina State University, Texas State University, the University of Florida and Indiana University. Each property is situated an average of roughly 0.9 miles within its respective campus. Amenities at the communities include swimming pools, grilling stations, fitness centers, outdoor recreation areas and study rooms. The Preiss Co. recently closed on the recapitalization of the portfolio, which Newmark also arranged. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment. Several properties will also receive unit interior renovations including the addition of modern cabinetry, updated flooring, contemporary fixtures and hardware, new lighting …
ORLANDO, FLA. — McCraney Property Co. has obtained three loans totaling $55 million for the refinancing of a Class A industrial portfolio in the Southeast. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL arranged the three non-recourse loans on behalf of the Orlando-based industrial developer. The direct lenders were not disclosed. Built between 2023 and 2024, the portfolio includes 41 Logistics in Adairsville, Ga. (390,498 square feet); Royal Palm Logistics in Royal Palm Beach, Fla. (128,684 square feet); and Davidson 85 in Concord, N.C. (146,628 square feet). The portfolio was 94.7 percent leased at the time of financing to a diverse tenant roster. The refinancing comprised a $25.8 million loan for 41 Logistics, a $16 million loan for Royal Palm Logistics and a $13.2 million loan for Davidson 85.