Florida

Big Rock Partners Opens $82M Seniors Housing Community in Central Florida

by Camren Skelton April 30, 2018

CELEBRATION, FLA. — Delray Beach, Fla.-based Big Rock Partners has opened Windsor at Celebration, a 239-unit seniors housing community in Celebration, the Disney-originated master-planned community in Central Florida. Windsor at Celebration features a mix of independent living, assisted living and memory care units. Community amenities include dining venues, a theater, rooftop bar, indoor aquatic center, fitness center, salon, spa and entertainment and leisure programs. Life Care Services, an LCS Company, is managing the community. Balfour Beatty was the project’s general contractor, and Gensler was the architect. Walker & Dunlop arranged a $41 million construction loan through Bank of the Ozarks for the project.

April 30, 2018

Development Florida Hospitality Southeast

Strategic Property Partners Breaks Ground on JW Marriott Hotel at Water Street Tampa Development

by Camren Skelton April 27, 2018

TAMPA, FLA. — Strategic Property Partners (SPP) has broken ground on the 519-room JW Marriott Tampa hotel within its planned Water Street Tampa development. The $3 billion mixed-use project is a multi-phase, 50-acre development that at full build-out will include more than 9 million square feet of commercial, residential, hospitality, educational, entertainment, cultural and retail space. JW Marriott Tampa represents the first of 10 buildings that SPP plans to begin building over the next year. Designed by Florida-based architecture firm Nichols Brosch Wurst Wolfe & Associates, JW Marriott Tampa will feature 100,000 square feet of meeting and event space, including the largest hotel ballroom in Tampa Bay at approximately 30,000 square feet. The hotel will also feature a full-service spa and fitness center, pool and sun terrace, ground-floor restaurant with indoor and outdoor seating and a rooftop lounge and terrace on the 26th floor. The hotel is located adjacent to the Tampa Convention Center and Amalie Arena, home to the National Hockey League’s Tampa Bay Lightning, which is owned by SPP head Jeff Vinik. JW Marriott Tampa will be one of three hotels within the Water Street Tampa development. Earlier this month, SPP unveiled plans to develop the 173-room EDITION …

April 27, 2018

Acquisitions Florida Multifamily Southeast

Cushman & Wakefield Brokers $35.7M Sale of Apartment Community in Tampa Bay Area

by Camren Skelton April 27, 2018

PLANT CITY, FLA. — Cushman & Wakefield has brokered the $35.7 million sale of Plantation at Walden Lake, a 352-unit apartment community located at 1400 Plantation Blvd. in Plant City, roughly 25 miles east of Tampa. Luis Elorza, Brad Capas and Robert Given of Cushman & Wakefield arranged the transaction on behalf of the seller, Mercury Investment. Bridge Investment Group acquired the 23-building property, which was 95 percent leased at the time of sale. Plantation at Walden Lake was constructed in phases from 1990 to 1994 and includes a mix of one-, two- and three-bedroom apartments. Community amenities include a swimming pool, fitness center, dog park, playground and a picnic and barbecue area.

April 27, 2018

Acquisitions Florida Retail Southeast

Colliers Negotiates $5.3M Sale of New Retail Center in Jacksonville

by Camren Skelton April 27, 2018

JACKSONVILLE, FLA. — Colliers International has arranged the $5.3 million sale of Village Commons, a 12,001-square-foot retail center located at 4490 and 4492 Southside Blvd. in Jacksonville. The seller, Rimrock Southside LLC, developed the property last year. Colliers International arranged the 1031 exchange on behalf of the buyers, Bronx Wendy’s SCH LLC and Southside RMR LLC. Village Commons is home to tenants such as AT&T, Pet Supermarket, First Watch and Wells Fargo.

April 27, 2018

Development Florida Industrial Southeast

Exeter Breaks Ground on 561,750 SF Distribution Center Near Orlando International Airport

by Camren Skelton April 26, 2018

ORLANDO, FLA. — Exeter Property Group has broken ground on a 561,750-square-foot distribution center located at 9775 Air Commerce Parkway in Orlando. Situated adjacent to Orlando International Airport, the speculative building will feature 36-foot clear heights, 535-foot building depth, cross dock configuration, an ESFR sprinkler system, 185-foot truck court, 60-foot concrete truck apron, storage spaces for 112 trailers, 312 auto parking spaces and spec office space. GMA Architects designed the building, which is situated within the 230-acre Air CommercePark. Tampa-based ARCO Murray is the general contractor for the project, and Orlando-based Florida Engineering Group is the project’s civil engineer. Exeter expects to wrap up construction on the facility in February 2019.

April 26, 2018

Acquisitions Florida Retail Southeast

Matthews Brokers $10.6M Sale of Shopping Center in Eastern Florida

by Camren Skelton April 26, 2018

PALM COAST, FLA. — Matthews Real Estate Investment Services has arranged the $10.6 million sale of Old Kings Commons, an 84,759-square-foot shopping center in Palm Coast. Jordan Powell and Scott Henard of Matthews arranged the transaction on behalf of the buyer, a private family office based in South Florida. Jacksonville-based Regency Centers sold the asset. Beall’s Outlet and Staples anchor Old Kings Commons, and other tenants include Planet Fitness, Pinch-A-Penney and Dunkin’ Donuts/Baskin-Robbins.

April 26, 2018

Acquisitions Florida Office Southeast

NAI Realvest Arranges $7.9M Sale of Office Building in Orlando for Medical Equipment Company

by Camren Skelton April 26, 2018

ORLANDO, FLA. — NAI Realvest has brokered the $7.9 million sale of a 36,426-square-foot office building located at 622 E. Washington St. in Orlando. Jeff Bloom of NAI Realvest arranged the transaction on behalf of the buyer, OM Star Properties LLC, d/b/a Orchid Medical Equipment Co. The company will occupy 50 percent of the building for its new headquarters. John Worrell of Cite Partners arranged the transaction on behalf of the seller, ThorntonPark Central LLC. The sale also included a 134,681-square-foot parking garage.

April 26, 2018

Florida Loans Louisiana Multifamily Southeast Student Housing

KeyBank Provides $37.5M Freddie Mac Financing for Two Student Housing Properties in Louisiana, Florida

by Camren Skelton April 24, 2018

BATON ROUGE, LA. AND DAYTONA BEACH, FLA. — KeyBank Real Estate Capital has provided $37.5 million in Freddie Mac loans for the refinancing of two student housing properties located in Baton Rouge and Daytona Beach. Trevor Ritter of KeyBank originated a $21.7 million, floating-rate loan for Oakbrook Apartments, a 240-unit student housing community near Louisiana State University in Baton Rouge. The community was constructed in 1983 and renovated in 2017. In Daytona Beach, Ritter originated a $15.8 million, floating-rate loan for the first phase of Eagle Landing Apartments. The 144-unit community serves students attending Bethune Cookman University, Daytona State College and Embry-Riddle Aeronautical University. The community is the first phase of a three-phase development and was built in 2015. The property’s second phase was built in 2016. The third phase is currently under construction, and is expected to be completed in time for the fall 2018 semester. The names of the borrowers were not disclosed.

April 24, 2018

Florida Hospitality Loans Southeast

Aztec Group Arranges $21.3M Construction Loan for AC Marriott Hotel in Midtown Miami

by Camren Skelton April 24, 2018

MIAMI — Aztec Group Inc. has arranged a $21.3 million construction loan for the development of the AC Marriott Hotel in Midtown Miami. Boaz Ashbel of Aztec Group arranged the loan through Florida Community Bank NA on behalf of the project developer, Midtown Lodging 2 LLC. The 153-room hotel will be located at the corner of N.E. 34th Street and Biscayne Boulevard and will feature a modern glass façade. Hotel amenities will include a restaurant and bar/lounge, business center, fitness center, meeting space, swimming pool, guess laundry and valet parking. 3H Hospitality will manage the AC Marriott Hotel upon opening in mid-2019.

April 24, 2018

Acquisitions Florida Multifamily Southeast

Franklin Street Brokers $16.9M Sale of Multifamily Community in Orlando

by Camren Skelton April 23, 2018

ORLANDO, FLA. — Franklin Street has brokered the $16.9 million sale of CaSienna Apartments, a 160-unit multifamily community located at 5703 Stoneridge Court in Orlando. Robert Goldfinger, Darron Kattan, Kevin Kelleher and Zachary Ames of Franklin Street arranged the transaction on behalf of both the seller, SR Apartments LLC, and the buyer, an undisclosed partnership. CaSienna Apartments was constructed in 1972 and 1973 and comprises 16 one- and two-story buildings. Community amenities include two swimming pools, a clubhouse, tennis courts, a playground and extra storage space for residents.

April 23, 2018

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