Florida

Franklin Street Brokers $14.1M Sale of 251-Unit Multifamily Community in Orlando

by Katie Sloan September 26, 2016

ORLANDO, FLA. — Franklin Street has brokered the $14.1 million sale of Misty Oaks, a 251-unit multifamily community located at 744 Spring West Circle in Orlando. The community, which is 95 percent occupied, offers one-bedroom, one-bathroom units. Approximately half of the units have undergone renovations and are achieving premium rent. Franklin Street’s Darron Kattan, Kevin Kelleher, Zachary Ames and Robert Goldfinger represented the undisclosed seller in the transaction. The buyers were 1031 investors from out of state.

September 26, 2016

Florida Industrial Retail Southeast

Berger Commercial Negotiates Retail, Industrial Leases in Deerfield Beach

by Katie Sloan September 26, 2016

DEERFIELD BEACH, FLA. — Berger Commercial Realty has arranged two retail and industrial leases in Deerfield Beach, roughly 40 miles outside of Miami. The leases include 10,351 square feet of industrial space to Vapor Supply LLC at Enterprise Commerce Center, located at 1901 Green Road, and 8,077 square feet of retail space to PGH International LLC at 1825 S. Powerline Road. John Forman and Keith Graves of Berger Commercial represented the landlord, Mancini & Sons Florida LLC, in both transactions.

September 26, 2016

Florida Loans Mixed-Use Office Retail Southeast

HFF Arranges $29.5M Financing for Tampa Mixed-Use Development

by Katie Sloan September 23, 2016

TAMPA, FLA. — HFF has arranged $29.5 million in financing for TriPointe Plaza, a 71,721-square-foot, mixed-use property located in Tampa. Located at 4488 Boy Scout Blvd. in the Westshore District, the property consists of a four-story, Class A office building; 374-space structured parking garage; 10,008-square-foot Eddie V’s Prime Seafood & Steaks restaurant; and 15,005 square feet of ground-floor retail. A drive-through Synovus Bank branch, BNY Mellon, TD Ameritrade and Sharp Electronics anchor the 90 percent-leased office component. Chris Drew and Brian Gaswirth of HFF worked on behalf of the borrower, Cardinal Point Management, to secure the five-year, fixed-rate loan through a life insurance company. Initial loan proceeds were used to acquire the property with the future proceeds going to fund the construction and interior build-out of a rooftop restaurant/lounge area.

September 23, 2016

Florida Retail Southeast

Calkain Brokers $1.4M Sale of Dunkin’ Donuts Property in Florida

by Katie Sloan September 23, 2016

OCOEE, FLA. — Calkain has brokered the $1.4 million sale of a single tenant retail property occupied by Dunkin’ Donuts in Ocoee. The recently constructed, 2,126-square-foot building is located at 2266 Ocoee Apopka Road. Patrick Nutt and Andrew Fallon of Calkain represented the seller, an undisclosed developer, in the transaction. The buyer was also undisclosed.

September 23, 2016

Florida Mixed-Use Southeast

Terra Closes on $15.9M Land Acquisition for Pines City Center Mixed-Use Project in Broward County

by John Nelson September 22, 2016

PEMBROKE PINES, FLA. — Terra has closed on its $15.9 million purchase of 17.2 acres of land in Pembroke Pines for Phase I of the 47-acre Pines City Center. Upon completion in 2017, the project will comprise 300,000 square feet of retail, entertainment and restaurant space, as well as apartment residences. The project will be built in two phases, with Phase I featuring 200,000 square feet of Publix-anchored retail space and Phase II featuring 100,000 square feet of commercial space and 385 apartments. Pines City Center will be situated at the southwest corner of Pines Boulevard and Palm Avenue, adjacent to a $60 million civic center the city of Pembroke Pines is building.

September 22, 2016

Florida Multifamily Southeast

Marcus & Millichap Brokers $30M Sale of Apartment Portfolio in Tampa

by John Nelson September 22, 2016

TAMPA, FLA. — Marcus & Millichap has brokered the $30 million sale of a four-property apartment portfolio in Tampa. The properties include the 70-unit Palm River Apartments, the 122-unit Laurel Chase, the 228-unit Rivertree Landing and the 232-unit Puritan Place. Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.

September 22, 2016

Florida Seniors Housing Southeast

Watercrest Opens 90-Unit Assisted Living Community in Jacksonville

by John Nelson September 21, 2016

JACKSONVILLE, FLA. — Watercrest Senior Living has opened Watercrest of San Jose, a 90-unit assisted living and memory care community in Jacksonville. The 79,000-square-foot, resort-style property offers 66 units of assisted living and 24 memory care apartments. Situated on the banks of Goodby’s Creek, the property features a signature spa (Spa W), wine bistro and multiple dining venues. Watercrest of San Jose will be co-owned by Starling Senior Living.

September 21, 2016

California Florida Georgia Kansas Michigan Midwest Multifamily Southeast Student Housing Top Stories Virginia Washington Western Wisconsin

CA Ventures Delivers Eight Student Housing Communities for 2016/2017 School Year

by Haisten Willis September 21, 2016

CHICAGO — CA Student Living, the student housing investment and development division of Chicago-based CA Ventures, has completed eight student housing communities comprising nearly 4,000 beds across the U.S. Located in eight states, the properties are about 95 percent occupied and represent nearly 10 percent of the 47,700 off-campus student housing beds slated to deliver nationwide in 2016, according to the developer. Valued at more than $460 million, the new communities boost the size of CA Student Living’s portfolio to $1.5 billion. All offer fully furnished apartments with in-unit laundry and a 1:1 bed-to-bath ratio in most units. The newly delivered communities include: Uncommon Athens — Uncommon Athens is a five-story building located at 165 E. Dougherty St in Athens, Ga. It is within walking distance to both downtown Athens and the University of Georgia. The property’s 210 beds include a mix of one-, two- and four-bedroom floor plans, and the development contains 10,600 square feet of street-level retail space. Indoor amenities include a 24-hour fitness center, golf simulator, business center, study lounge, group meeting space, club room and coffee bar. Uncommon Charlottesville — Uncommon Charlottesville, a six-story building located at 1000 W. Main St. in Charlottesville, Va., is within …

September 21, 2016

Florida Industrial Southeast

Meridian Breaks Ground on 237,000 SF Industrial Facility in South Florida

by John Nelson September 20, 2016

HOMESTEAD, FLA. — Meridian Design Build has begun construction on a 237,000-square-foot package sortation and distribution center in South Florida. The property will be located on a 40.5-acre lot at the intersection of S.W. 127th Avenue and S.W. 272nd Street in Homestead. The project will be developed by SunCap Property Group as a build-to-suit for an unnamed provider of global shipping and information services. The property will feature 63 loading docks, seven drive-in doors, a freestanding gateway building, 180 interior van loading positions, 431 parking spaces, a 125-stall trailer storage yard and 8,270 square feet of office space. The design team includes architect Ware Malcomb and civil engineer Langan.

September 20, 2016

Florida Loans Multifamily Southeast

NorthMarq Capital Arranges $35M Refinancing of Apartment Community in Tampa Bay Area

by John Nelson September 20, 2016

LARGO, FLA. — NorthMarq Capital has arranged the $35 million refinancing of The Boulevard Apartments, a 260-unit apartment community located at 2098 Seminole Blvd. in Largo, a city in the Tampa Bay area. Larry Curry of NorthMarq Capital’s Tampa office arranged the 10-year loan with four years of interest-only payments followed by a 30-year amortization schedule through an unnamed life insurance company.

September 20, 2016

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