ORLANDO, FLA. — SunTrust Bank has provided a $39 million loan to Orlando Senior Health Network, which the owner-operator will use to expand Orlando Lutheran Towers in Orlando. The project will add 33 skilled nursing beds to the continuing care retirement community, along with 45 new full-time employees to serve the new residents. The $39 million loan includes both funds for capital improvements and refinancing of existing debt. Renovations are scheduled to begin this summer with the project scheduled for completion in 2018.
PLANTATION, FLA. — Ram Realty Services has sold Jacaranda Plaza, a 173,044-square-foot, Publix-anchored shopping center, for $29.3 million. Epic Real Estate Partners purchased the property, which is located on 16.2 acres at 8249 W. Sunrise Blvd. in Plantation, a suburb of Fort Lauderdale. Jacaranda Plaza was 86 percent leased at the time of sale to tenants such as Planet Fitness, Dollar Tree, Stein Mart, Regions Bank, T-Mobile, GNC and Game Stop. Daniel Finkle, Luis Castillo and Nat Scarmazzi of HFF represented Ram Realty Services in the transaction. Additionally, Paul Stasaitis and Adam Herrin of HFF arranged a five-year, $19.9 million acquisition loan with a fixed interest rate through BankUnited on behalf of Epic Real Estate Partners.
KISSIMMEE, FLA. — KeyBank Real Estate Capital has provided a $24.4 million Freddie Mac loan for Arrow Ridge Apartments, a 320-unit multifamily community located at 4100 Arrow Ridge Place in Kissimmee. Built in 1999, the property features a fitness center, swimming pool and a playground. The loan was used to refinance an existing KeyBank bridge loan, which allowed the sponsor to purchase the property in February 2016. Charlie Williams of KeyBank’s commercial mortgage group arranged the financing.
WINTER SPRINGS, FLA. — Franklin Street has arranged the $7 million sale of Tuskawilla Park Apartments, a 41-unit apartment complex located at 154 Tuskawilla Road in Winter Springs, roughly 15 miles north of Orlando. Originally built as a condominium development in 2009, the apartment complex features elevators and 6,377 square feet of ground-floor commercial space that is fully leased by two local engineering firms and the Florida Department of Motor Vehicles. Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger of Franklin Street represented the seller, California-based Pathfinder Landology ISIS Holdings LLC, and the buyer, Virginia-based CIG Tuskawilla Park LLC, in the transaction.
MIAMI — Swire Properties Inc. and its retail co-developers Whitman Family Development and Simon Property Group have inked a lease for a 38,000-square-foot Italian indoor food hall concept at Brickell City Centre in Miami’s Brickell district. The three-level dining space and market will anchor the 500,000-square-foot open-air shopping center at the 5.4 million-square-foot development. The food hall will offer several eateries, market fare such as produce and artisanal cheeses, gifts, live cooking demonstrations, cooking classes with Italian chefs and educational programming on wine pairings and other topics. Other dining and entertainment retailers already signed on at Brickell City Centre include Cinemex, Pubbelly Sushi, Pasion del Cielo, Quinto La Huella and Sugar, a rooftop bar that will be situated at the Brickell City Centre’s upscale hotel — EAST, Miami.
JACKSONVILLE, FLA. — Equicap, a real estate investment advisory firm based in New York, has arranged an $18 million acquisition loan for a 155,899-square-foot shopping center in Jacksonville. The center’s tenant roster includes Publix, H&R Block and Planet Fitness. Daniel Hilpert of Equicap arranged the seven-year, non-recourse loan with a fixed 3.54 percent interest rate through an unnamed regional lender.
ORLANDO, FLA. — Cite Partners has brokered the $14 million sale of a 199,100-square-foot industrial facility located at 4473 Shader Road in northwest Orlando. First Industrial Realty Trust Inc., a Chicago-based REIT, purchased the asset from Panattoni Development Corp. LLC. Wilson McDowell, Matt Sullivan and Bobby Isola of Cite Partners LLC represented Panattoni in the transaction, and Rich Cavano of Cavano Realty LLC represented First Industrial. The deal is the largest industrial sale in Orlando by square footage and dollar amount so far this year.
LAKE CITY, FLA. — Marcus & Millichap has arranged the $11.6 million sale of The Grove Apartments, a 200-unit apartment community located at 384 S.W. Dexter Circle in Lake City. The multifamily property was roughly 75 percent occupied at the time of sale. The community features all two-bedroom, 750-square-foot units with full-size washer and dryer connections, tankless water heaters and garbage disposals. Community amenities include gated access, a swimming pool with a paved sundeck and a children’s playground. Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office represented the seller and procured the buyer in the transaction.
COCOA BEACH, FLA. — Hilton Worldwide has opened Homewood Suites by Hilton Cape Canaveral-Cocoa Beach, a 153-room hotel in Cocoa Beach. The new property is the brand’s first hotel in the market. Located at 9000 Astronaut Blvd., Homewood Suites Cape Canaveral-Cocoa Beach is near the Kennedy Space Center, Ron Jon Surf Shop, Port Canaveral shops and restaurants and the Cocoa Beach Pier. Sunbelt Hospitality is the hotel’s developer and owner. The hotel features an outdoor pool, fitness center, complimentary breakfast, an evening social Monday-Thursday, Wi-Fi and grocery shopping services.
TAMPA, FLA. — Coca-Cola Beverages Florida, an independent Coca-Cola bottler based in Tampa, has signed a letter of intent with The Coca-Cola Co. to acquire four production facilities in Hollywood, Jacksonville, Orlando and Tampa for an undisclosed price. The proposed acquisitions will give Coca-Cola Florida the ability to fully manage the production of Coca-Cola products that it currently distributes for Florida customers and consumers. In December 2015, Coca-Cola Florida signed letters of intent to acquire The Coca-Cola Co.’s sales and distribution operations in North and South Florida. The proposed acquisitions are subject to the parties reaching a definitive agreement, with closing for the North Florida operations expected in 2016 and closing for the South Florida operations expected in 2017. Coca-Cola Florida currently operates in Central Florida with seven sales and distribution locations in Tampa, Lakeland, Sarasota, Fort Myers, Fort Pierce, Sebring and Spring Hill. Following the completion of the North and South Florida territory expansions, Coca-Cola Florida’s operations will encompass 16 sales and distribution centers throughout Florida.