ORLANDO, FLA. — CBRE has brokered the sale of a 133,075-square-foot office property located at 5900 Lake Ellenor Drive in Orlando Central Park, an office park in south Orlando. Cardinal Point Management acquired the eight-story building from D Group Acquisition Three Inc. for $5.8 million. The purchase also included an adjoining outparcel at 1854 W. Oak Ridge Road. Ronald Rogg and Chip Wooten of CBRE represented the seller in the transaction.
SEBASTIAN, FLA. — Marcus & Millichap has brokered the sale of US 1 Self Storage, a 55,168-square-foot self storage facility located at 9893 N. US Highway in Sebastian. The property features 29 climate-controlled units, 483 non climate-controlled units, two retail spaces and 16 parking spaces. Michael Mele and Luke Elliott of Marcus & Millichap’s Tampa office represented the undisclosed buyer and seller in the transaction.
ST. PETERSBURG, FLA. — NXT Capital has provided a $20.4 million acquisition loan for Sienna Bay, a Class B apartment community in St. Petersburg. The property is located roughly 14 miles from downtown Tampa and 12 miles from MacDill Air Force Base. Proceeds from the loan will be used to renovate the asset. The apartment community features swimming pools, a tennis court and a fitness center.
COCONUT CREEK, FLA. — Boca Raton-based Southern Management and Development (SMD) has brokered the $5.8 million sale of Lyons Plaza, an 80,027-square-foot shopping center located at 1301-1509 Lyons Road in Coconut Creek. Built in 1986, the shopping center’s tenant roster includes Goodyear Tire, Humana Medical and Gold Coast Ballroom. Lyons Plaza Coconut Creek I LLC purchased the shopping center from Lyons Plaza Partners Ltd. SMD represented the seller in the transaction.
MIAMI — CBRE’s capital markets debt and structured finance team has arranged a $95 million acquisition loan for a portfolio of five single-tenant office properties totaling 1.6 million square feet in the Southeast. The properties, which are all leased by Wells Fargo, include 3579-3585 Atlanta Ave. in Atlanta; 401 Linden St. in Winston-Salem, N.C.; 809 W. 4½ St. and 801 W. 4 St. in Winston-Salem; 101 Greystone Blvd. in Columbia, S.C.; and 7711 Plantation Road in Roanoke, Va. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Miami office secured the financing on behalf of the borrower, a private family interest in Brazil. Guggenheim Partners provided the 10-year loan with a 30-year amortization schedule at 65 percent loan-to-value.
CLEARWATER, FLA. — Tampa-based Blue Rock Partners LLC and Denver-based Goff Capital Partners have purchased Cameron Lakes Apartments, a 207-unit apartment community located at 2550 Stag Run Blvd. in Clearwater, for $19.3 million. Grandbridge Real Estate Capital provided acquisition financing on behalf of the buyers. In addition to rebranding the asset as The Park at Gibraltar, Blue Rock and Goff Capital plan to invest $1 million to upgrade the property’s common areas and add a washer and dryer to every unit. John Selby of CBRE brokered the transaction.
ORANGE CITY, FLA. — Crossman & Co. has arranged Affordable Hearing Solutions’ 2,000-square-foot lease at Crown Centre Plaza in Orange City. The Publix-anchored property is located at the corner of Enterprise Road and Saxon Boulevard, just off I-4. The new lease brings the shopping center to full occupancy. Other tenants include Bealls Outlet, UPS, Jersey Mike’s Subs and Great Clips. Craig Katterfield of Crossman & Co. represented the landlord, Publix Super Markets Inc., in the lease transaction. Melody Traeger of Coldwell Banker Commercial Al Group represented Affordable Hearing Solutions.
ST. PETERSBURG, FLA. — Passco Cos. LLC has purchased the 308-unit Azure Luxury Apartments, a Class A apartment community located at 540 Trinity Lane in St. Petersburg, a city within the Tampa Bay area. The newly constructed apartment community was 94 percent occupied at the time of sale. The property comprises one-, two- and three-bedroom units with stainless steel appliances, granite countertops and kitchen islands, plank wood flooring, washers and dryers, nine-foot ceilings and private patios and balconies. Azure’s amenity package includes a resort-style pool, fitness center, garages, sports lounge, dog park, outdoor fire pits, car washing stations and electric car charging stations. The seller was undisclosed.
BOCA RATON, FLA. — Integra Real Estate Capital has arranged a $3 million refinance of City Plaza, an 11,000-square-foot retail property located in downtown Boca Raton. Igor Goldenberg of Integra arranged the seven-year loan through an unnamed regional balance sheet lender at a fixed interest rate. The recently renovated City Plaza’s tenant roster includes Tendler Orthodontics, Little Caesars Pizza, GK BloDryBar & Salon, The Seed Coffee | Juice and G+O2 Fitness.
FORT LAUDERDALE, FLA. — Berger Commercial Realty has brokered the $22.1 million purchase of 4.3 acres of land located at 1701 S.E. 17th St. in Fort Lauderdale. Alliance Residential Co. purchased the former Ocean World site from Art Institute Investments LLC. Alliance plans to develop a 394-unit, eight-story apartment community named Broadstone Harbor Beach at the site. The complex will feature a club room, swimming pool, putting green, fitness center, 2,700 square feet of retail space and a 4,600-square-foot retail outparcel. Alliance will break ground on Broadstone Harbor Beach in the second quarter. Steve Hyatt of Berger Commercial Realty represented Alliance in the land acquisition.
