Sunday, July 27, 2025
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AcquisitionsFloridaIndustrialSoutheast

State of Florida Acquires 423,000 SF Warehouse in Auburndale for Emergency Response Hub

by John Nelson

AUBURNDALE, FLA. — The State of Florida has purchased a 423,000-square-foot warehouse within Midpoint Florida Logistics Center in Auburndale, a Central Florida city near Lakeland. Dalfen Industrial sold the newly delivered property for an undisclosed price. Florida’s Division of Emergency Management plans to use the facility, situated near I-4, as a hub for the storage and movement of emergency supplies during emergency activation and response throughout the state. Delivered in second-quarter 2023, the warehouse features 36-foot clear heights and 400 trailer parking spaces.

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DevelopmentFloridaLoansMultifamilySoutheast

13th Floor Obtains $83M Construction Loan for Apartment Development in South Florida

by John Nelson

HALLANDALE BEACH, FLA. — Miami-based 13th Floor Investments has obtained an $83 million construction loan for Parks at Hallandale, a 398-unit, garden-style apartment community underway in South Florida’s Hallandale Beach. Situated on 15.5 acres in Broward County, Parks at Hallandale will feature studio, one-, two- and three-bedroom market-rate and workforce housing units, as well as 6,500 square feet of ground-floor retail space. Designed by MSA Architects, amenities will include a clubhouse, fitness center, resort-style pool and deck, an outdoor pavilion and seating areas with barbecue grills, tennis and pickleball courts, dog park and a children’s playground. CIBC Bank USA provided the loan to 13th Floor, which plans to deliver the community in 2026. Additionally, Scott Wadler and Alec Fox of Berkadia arranged an undisclosed amount of preferred equity from Houston-based Marble Capital.

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DevelopmentFloridaMultifamilySoutheast

Alliance Residential Opens 200-Unit Broadstone Overlands Multifamily Community in Clermont, Florida

by John Nelson

CLERMONT, FLA. — Alliance Residential Co. has opened Broadstone Overlands, a multifamily community located at 5000 Collina Terrace in Clermont, about 26 miles west of Orlando. Totaling 200 units, the property features apartments in one-, two- and three-bedroom layouts, as well as eight townhomes. Amenities at the community — which was designed by MSA Architects with interiors by Atlanta-based Focus Design Interiors  — include a saltwater pool, fitness center, outdoor kitchen and grilling stations, billiards, shuffleboard, two dog parks with wash stations, a 24-hour mail and parcel kiosk, access-controlled parking, valet garbage service, a putting green and high-speed Wi-Fi throughout the property. Monthly rental rates at Broadstone Overlands range from $1,734 to $3,935, according to Apartments.com.

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AcquisitionsFloridaMultifamilySoutheast

Sinatra & Co. Purchases Cocoa Grand Apartments in Cocoa, Florida for $64M

by John Nelson

COCOA, FLA. — Sinatra & Co. has acquired Cocoa Grand Apartments, a multifamily community located in Cocoa, for $64 million. Built in 2022, the property totals 268 units. The buyer financed the acquisition through its SCRE FL Value Add Fund, with Stolar Capital, The Nanula Family Office and Citi Bank providing debt for the purchase. David Etchison, Cole Whitaker and Mary Beale of Berkadia represented the undisclosed seller in the transaction. Bob Falese of Berkadia arranged financing on behalf of Sinatra & Co., which plans to implement amenity and landscaping improvements at the property.

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DevelopmentFloridaRetailSoutheast

Sembler, Forge Underway on Redevelopment of Publix-Anchored Retail Center in Fort Myers, Florida

by John Nelson

FORT MYERS, FLA. — The Sembler Co. and Forge Capital Partners are underway on the redevelopment of Daniels Crossing, a Publix-anchored retail center located in Fort Myers. Scheduled for completion in summer 2025, the project includes the demolition of the existing 48,890-square-foot Publix and 4,700 square feet of inline space. Once complete, the redevelopment will feature a new, 48,387-square-foot Publix and adjacent 3,010-square-foot Publix Liquors store. Other tenants at the property include Duck Donuts, Millenium Physician Group, Potts Sport Café, Quest Diagnostics, School of Rock, Subway, Sugaring NYC and The UPS Store.

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DevelopmentFloridaHospitalityMixed-UseSoutheast

JMA, Machete Select Kimpton as Hotel Partner for Westcourt Sports & Entertainment District in Downtown Orlando

by John Nelson

ORLANDO, FLA. — JMA Ventures and Machete Group, master developers of Westcourt in downtown Orlando, have selected Kimpton Hotels & Restaurants as the new hospitality partner at the 8.5-acre sports and entertainment district. Kimpton is part of the IHG Hotels & Resorts family of hospitality brands. The new 261-room, 11-story hotel will be the seventh Kimpton hotel in Florida upon completion. The property will feature over 16,000 square feet of indoor meeting space, a full-service restaurant and lobby bar, cafe and pool bar and pool lounge. The City of Orlando recently approved Westcourt, which will sit adjacent to Kia Center, home of the NBA’s Orlando Magic. Other uses at the development will include apartments, a 3,500-seat live entertainment venue, parking garage, offices, shops, restaurants and 1.5 acres of green space. The development team expects to deliver the project by March 2027 and create approximately 3,400 jobs for the region.

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Company NewsFloridaRestaurantRetailSoutheast

Buca di Beppo Files for Chapter 11 Bankruptcy, Plans to Keep 45 Remaining Restaurants Open

by John Nelson

ORLANDO, FLA. — Orlando-based Italian dining chain Buca di Beppo has voluntarily filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code. USA Today reports that the restaurant chain claimed it owed 30 separate creditors approximately $50 million at the time of filing. The restructuring will involve 44 core restaurants, as well as a new store currently being opened. According to a press release issued by the company, it is “committed to ensuring that the restaurants operate as usual.” Gray Reed & McGraw LLP is serving as legal advisor to the company, and CR3 Partners LLC is acting as financial advisor, as well as providing corporate leadership as the chief restructuring officer. Stout Capital is acting as investment banker on behalf of the brand. “By restructuring with the continued support of our lenders, we are paving the way toward a reinvigorated future,” says Rich Saultz, president of Buca di Beppo.

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DevelopmentFloridaMultifamilySoutheast

Madison Capital Secures $47M Construction Financing for Multifamily Development in Bradenton, Florida

by John Nelson

BRADENTON, FLA. — Madison Capital Group has secured a $47 million loan for the construction of Madison Bradenton, a 240-unit multifamily development to be located on the site of the former DeSoto Square Mall in Bradenton, a city on the south side of the Tampa Bay area. Peachtree Group provided the financing. Subsidiary Madison Communities is developing the project, which will feature five four-story buildings and two carriage homes. Amenities at the property will include a clubhouse, cyber lounge, swimming pool with cabanas, outdoor kitchen with grilling areas, fitness center and dog park. BenCo, an affiliate of Madison Capital Group, is serving as the general contractor. Slocum Platts Architects is the architect, and Cavoli Engineering will act as the engineer. Construction is scheduled to begin immediately, with completion scheduled for early 2026.

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DevelopmentFloridaMultifamilySoutheast

EDEN Living Completes 265-Unit Multifamily Community in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — EDEN Living has completed the development of EDEN at Kendall West, a 265-unit multifamily community situated on 20 acres in Jacksonville. Located at 9105 Tredinick Parkway, the property features 193 single-story apartments and 72 two-story townhomes. Each unit includes a private backyard, with a private garage accompanying each townhome. Units at EDEN at Kendall West range in size from 700 to 1,300 square feet, with one-, two- and three-bedroom layouts. Amenities include a clubhouse, fitness center, swimming pool, dog grooming station, dog park, club room and walking trails. Monthly rental rates at the community begin at $1,425, according to the property website.

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DevelopmentFloridaLeasing ActivityMixed-UseOfficeSoutheast

Tom Brady Enterprises Signs 8,415 SF Office Lease at THE WELL Bay Harbor Islands in Miami

by John Nelson

MIAMI — Tom Brady Enterprises (TBE) Capital Management has signed an 8,415-square-foot office lease at THE WELL Bay Harbor Islands, a mixed-use project currently under development in Miami. TBE will relocate its headquarters to a 113,000-square-foot office building located at 1177 Kane Concourse within the development. Scheduled to open in 2025, the office building is currently 35 percent preleased. Blanca Commercial Real Estate, which serves as the leasing agent for THE WELL Bay Harbor, represented the landlord, Terra, in the lease negotiations. Colliers and Current Real Estate Advisors represented TBE. Upon completion, THE WELL Bay Harbor will also feature an eight-story condominium building, more than 22,000 square feet of amenities and a restaurant. Tom Brady Enterprises manages all business ventures of retired football player Tom Brady, including his portfolio of brands, which includes sportwear company BRADY Brands, wellness brand TB12, production company Religion of Sports and Autograph, which is dedicated to fan engagement. Brady played in the NFL for 23 seasons and won seven Super Bowls, six with the New England Patriots.

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