Florida

Courtelis, Kislak, HMG/Courtland to Break Ground on $33.6M Apartment Community in Orlando

by John Nelson May 21, 2015

ORLANDO, FLA. — The Courtelis Co., Kislak Organization and HMG/Courtland Properties will break ground next week on Murano at Grande Lakes, a $33.6 million luxury apartment community in Orlando. The trio of South Florida-based developers will build the 240-unit property on a 9.5-acre site at the southeast corner of John Young Parkway and Taft-Vineland Road. The design team includes architect Forum Architecture and Interior Design and general contractor Roger B. Kennedy Inc. Wells Fargo provided construction financing to the development team for the project, which is slated for a summer 2016 completion.

May 21, 2015

Florida Multifamily Southeast

Berkadia Brokers Sale of Two Apartment Communities in Metro Tampa Totaling $96.4M

by John Nelson May 20, 2015

BRANDON AND TAMPA, FLA. — Berkadia has brokered the sale of two apartment communities in the Tampa area for a combined $96.4 million. Hamilton Bay Apartments, located at 1801 Princeton Lakes Drive in Brandon, sold for $43.6 million. Tampa-based Blue Rock Partners purchased the 444-unit asset from Nashville-based Covenant Capital Group. Built in 1989, the apartment community’s amenities include two swimming pools, a clubhouse, tennis court, recreation room, playground, laundry facility, controlled-access gate, child care center, complimentary coffee bar, community garden and a dog park. Viera at Westchase Apartments, located at 12401 W. Hillsborough Ave. in Tampa, sold for $52.8 million. Glendale, Colo.-based Forum Real Estate Group purchased the 390-unit property from Covenant Capital Group. Built in 1999, the property’s community amenities include two resort-style swimming pools, a hot tub with a waterfall and grotto, cabana lounges, clubhouse, business center, fitness center, tennis courts and a controlled-access gate.

May 20, 2015

Florida Office Southeast

Atlantic Commercial Group Brokers $14.2M Sale of Office Building in Clearwater

by John Nelson May 20, 2015

CLEARWATER, FLA. — Delray Beach, Fla.-based Atlantic Commercial Group Inc. has brokered the $14.2 million sale of Bayview Pavilion, a 94,144-square-foot, three-story office building in Clearwater. The Class A office building is located on Lightwave Drive immediately west of the St. Pete-Clearwater International Airport. YMP Real Estate Management purchased the property from an undisclosed seller. Cliff Weisner of Atlantic Commercial Group brokered the transaction.

May 20, 2015

Florida Mixed-Use Southeast

City of Miami Approves Site Plan for $2B Miami Worldcenter

by John Nelson May 19, 2015

MIAMI — The city of Miami has given its approval to the development team of Miami Worldcenter, a $2 billion, 27-acre mixed-use development in downtown Miami. The green light allows the development team to apply for building permits. Miami Worldcenter is a collaboration between master developer Miami Worldcenter Associates and a team of development firms following a master plan created by Elkus Manfredi Architects. The Forbes Co. and Taubman will deliver a 765,000-square-foot shopping mall, which will be anchored by Bloomingdale’s and Macy’s alongside high-end dining and entertainment options. The team behind the PARAMOUNT Miami Worldcenter condo, the project’s signature residential tower, includes Miami-based developer Daniel Kodsi in partnership with Art Falcone and Nitin Motwani. Nearby, a 429-unit luxury apartment building developed by ZOM will rise adjacent to Bloomingdale’s. Two blocks west, Miami-based MDM Group will develop a new Marriott Marquis hotel, which will feature 1,800 hotel rooms and 600,000 square feet of meeting and event space. The groundbreaking for these components of Miami Worldcenter is scheduled to take place in the third quarter of 2015.

May 19, 2015

Florida Retail Southeast

Publix Super Markets Buys Freestanding Publix in Fort Lauderdale for $22.5M

by John Nelson May 19, 2015

FORT LAUDERDALE, FLA. — Continuing its buying spree of Publix grocery stores in Florida, Publix Super Markets Inc. has purchased the Publix at Sunrise, a 44,840-square-foot, single-tenant Publix grocery store located at 1415 E. Sunrise Blvd. in Fort Lauderdale. Publix Super Markets purchased the net-leased asset from Stiles Corp. for $22.5 million free and clear of existing debt. Daniel Finkle, Luis Castillo and Nat Scarmazzi of HFF represented Stiles in the transaction.

May 19, 2015

Florida Multifamily Southeast

ARA Newmark Brokers $10M Sale of Waterfront Development Site in Fort Lauderdale

by John Nelson May 19, 2015

FORT LAUDERDALE, FLA. — ARA, A Newmark Company (ARA Newmark) has brokered the $10 million sale of a 0.6-acre waterfront development site at 321 N. Birch Road in Fort Lauderdale. The site has more than 200 feet of frontage on the Intracoastal Waterway and is steps away from the beach and the Atlantic Ocean. The site is approved for an 11-story, 22-unit condominium project, as well as a marina with four 70-foot boat slips. Troy Ballard, Avery Klann and Marc deBaptiste of ARA Newmark represented the sellers, Jeremy Bedzow and Grand Birch LLC. An affiliate of Sobel Co. known as 321 Birch LLC purchased the development site. According to ARA Newmark, the sales price of $454,000 per unit is the new record for land pricing per unit for a non-oceanfront site in South Florida.

May 19, 2015

Florida Loans Retail Southeast

CIT Group Provides $41M in Refinancing for Shopping Center in Palm Beach Gardens

by John Nelson May 18, 2015

PALM BEACH GARDENS, FLA. — CIT Group Inc.’s subsidiary CIT Real Estate Finance has provided a $41 million secured credit facility to refinance PGA Plaza Shopping Center in Palm Beach Gardens. The shopping center is anchored by Trader Joe’s and Ulta Beauty. CIT provided the loan through CIT Bank on behalf of the borrower, Menin Development. In November 2013, CIT provided $26 million in financing to a joint venture headed by Menin Development to support PGA Plaza’s renovation, which included adding 5,646 square feet of retail space, a redesigned façade, upgraded parking lot, landscaping, site lighting and updated signage.

May 18, 2015

Florida Loans Retail Southeast

CIBC Provides $20.9M CMBS Loan for Shopping Center in South Florida

by John Nelson May 18, 2015

SUNRISE, FLA. — The Canadian Imperial Bank of Commerce (CIBC) has provided a $20.9 million CMBS loan to refinance Sawgrass Landings, a 64,500-square-foot shopping center in the Broward County city of Sunrise. The retail center’s tenant roster includes LA Fitness, Starbucks Coffee and FedEx Office. The mall is shadow anchored by Sawgrass Mills Mall. Steven Weiss, Romano Tio and Marc Sznajderman of RM Capital arranged the 10-year, fixed-rate loan on behalf of the borrower, Trikon Sunrise LLC, which is managed by Jon Samuel. The loan features four years of interest-only payments.

May 18, 2015

Florida Retail Southeast

May Realty Advisors Brokers Sales of Two Petco Stores in Florida to Foreign Investors

by John Nelson May 18, 2015

PLANTATION AND PEMBROKE PINES, FLA. — May Realty Advisors has brokered the sale of two net leased Petco stores in Plantation and Pembroke Pines to investors based in Venezuela and Portugal. Matthew May and Richard Huelsman of May Realty represented a U.S.- and Columbian-based family office in the sale of the two stores, which both had roughly four years remaining on their initial lease. The store at 12251 Pines Blvd. in Pembroke Pines sold for $5.9 million and the store at 8111 W. Broward Blvd. in Plantation sold for $7 million. The buyers purchased the assets in all cash. Alexandria Escudero of Miami-based Fortune Realty represented both buyers in the two transactions.

May 18, 2015

Celebration Pointe Regal Cinemas Gainesville

Florida Mixed-Use Retail Southeast

Regal Cinemas to Open 10-Screen Theater in $200M Celebration Pointe in Gainesville

by John Nelson May 15, 2015

GAINESVILLE, FLA. — Knoxville, Tenn.-based Regal Entertainment Group plans to open a new 10-screen, reserved-seating luxury theater at Celebration Pointe in Gainesville. The theater will feature upscale recliners, a lobby with a full-service bar and lounge seating. Located at the intersection of I-75 and Archer Road and anchored by Bass Pro Shops, the $200 million, 1 million-square-foot Celebration Pointe will feature a mix of approximately 400,000 square feet of entertainment, outlet retail and restaurants uses. Phase I of Celebration Pointe is slated to open in fall 2016.

May 15, 2015

Newer Posts

Older Posts