MIAMI — CP Group has executed nearly 30,000 square feet of leasing agreements at The Landing at MIA, a 1.1 million-square-foot office campus in west Miami. The 11-building complex is situated on 50 acres directly adjacent to Miami International Airport. Gordon Messinger and Randy Carballo of CBRE represented CP Group in all eight lease transactions. The deals include Butler, Buckley, Deets Inc. (new 5,886-square-foot lease); CVS Health (5,716-square-foot renewal); Trane Inc. (new 5,100-square-foot lease); Harding Retail (new 3,390-square-foot lease); Patagonia Sea Farms (expansion to 3,163 square feet); Nomi Health (new 2,641-square-foot lease); The Ashvins Group (new 1,460-square-foot lease); and FleetMasters (new 1,231-square-foot lease).
Florida
ATLANTA — CBRE has arranged a $171.4 million loan for the refinancing of an eight-property portfolio of grocery-anchored shopping centers in the Southeast. The portfolio totals nearly 1.2 million square feet and was 96.6 percent leased at the time of financing to 194 tenants, including Kroger, Publix and Whole Foods Market. PGIM provided the loan to the borrowers, Branch Properties and Corebridge Real Estate Investors (formerly AIG Global Real Estate). Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the loan, which refinanced the mortgages for shopping centers in Bradenton, Sarasota, Melbourne and Palm Coast, Fla.; Atlanta and Gainesville, Ga.; Lexington, Ky.; and Memphis and Knoxville, Tenn.
Berkadia Secures $42.5M Loan for Skye at Hunter’s Creek Apartments in Kissimmee, Florida
by John Nelson
KISSIMMEE, FLA. — Berkadia has secured a $42.5 million loan for Skye at Hunter’s Creek, a 216-unit apartment community located at 1300 Santa Rosa Drive in the Central Florida city of Kissimmee. Brad Williamson, Wesley Moczul, Mitch Sinberg, Matt Robbins and Scott Wadler of Berkadia arranged the loan on behalf of the borrower, ZMR Capital, a Tampa-based real estate investment firm. Nuveen Real Estate provided the three-year, floating-rate loan, which was underwritten with two one-year extension options, full-term interest only payments, a 68 percent loan-to-value ratio, an interest rate cap and flexible prepayment terms. Built in 2015, Skye at Hunter’s Creek features newly renovated one-, two- and three-bedroom apartments, as well as a new resident clubhouse, resort‐style swimming pool, outdoor pavilion, fitness center, bark park, business center, detached garages, a playground and electric vehicle charging stations.
BOYNTON BEACH, FLA. — Whole Foods Market plans to open a 42,024-square-foot grocery store located at 7395 Boynton Beach Blvd. in Boynton Beach. Set to open on Dec. 10, the new store will serve as the anchor of Boynton Beach Marketplace, a 69,204-square-foot shopping center that Atlanta-based SJC Ventures is developing in South Florida’s Palm Beach County. The new Whole Foods’ product assortment will feature more than 1,500 local items from Florida, including beer, wine, meats, seafood, cheeses, baked goods and health and wellness merchandise. Founded in 1980, Austin-based Whole Foods operates more than 530 stores across the United States, Canada and the UK.
MonticelloAM Provides $87M Bridge and Working Capital Financing for Skilled Nursing Portfolio in Florida
by John Nelson
NEW YORK CITY — Multifamily and seniors housing bridge lending platform MONTICELLOAM LLC (MonticelloAM) has provided $87 million in bridge and working capital financing for a portfolio of skilled nursing facilities located in Florida. The portfolio comprises 450 skilled nursing beds across four properties. Proceeds from the loan, which features a 24-month term and two six-month extensions, were used to refinance existing debt on the properties. A $7 million working capital revolver will fund day-to-day operational expenses for the facilities. The borrower was not disclosed.
OXFORD, FLA. — JLL has brokered the sale of The Mark at Wildwood, a newly built, 294-unit apartment community located at 3795 Bismark Court in Oxford. The property sits at the northwest corner of The Villages master-planned community in Central Florida’s Sumter County. Cliff Taylor, Joe Ayers, Ryan Hixon, Tucker Brooks and Mike Scott of JLL represented the sellers, Varden Capital Properties and Tellus Partners, in the transaction. TriBridge Residential purchased the property for an undisclosed price. Completed in 2023, The Mark at Wildwood features a mix of one-, two- and three-bedroom flat and carriage home-style units. Amenities include a resort-style pool and a clubhouse.
ST. PETERSBURG, FLA. — Boston-based Rockpoint and Charleston-based Greystar have formed a partnership to develop Phase II of Gateway Logistics Center, an industrial park in the Tampa suburb of St. Petersburg. Situated on 17.5 acres in Pinellas County, the second phase will span 331,803 square feet and include a 92,841-square-foot building and two 119,481-square-foot buildings. Rockpoint Industrial, Rockpoint’s industrial platform, will provide additional development and management support for the development. Gateway Logistics Center is part of Greystar’s broader 93-acre project, which includes a 412-unit, garden-style apartment community along with the two-phase, six-building industrial park. The construction timeline for Phase II was not disclosed.
JACKSONVILLE, FLA. — Berkadia has negotiated the sale of Cielo at Normandy, a 123-unit apartment community located at 1570 Lane Ave. S in Jacksonville. Greg Rainey led the Berkadia team in representing the seller, Atlanta-based Zavala Capital Group, in the transaction. Black Ridge purchased the property for an undisclosed price. Built in 1974, Cielo at Normandy features a mix of one-, two- and three-bedroom layouts with an average size of 933 square feet. Community amenities include a swimming pool, clubhouse, laundry facility and a playground.
Linkvest Capital, MMG Equity Acquire Mixed-Use Destination in Downtown Homestead, Florida
by John Nelson
HOMESTEAD, FLA. — Linkvest Capital and MMG Equity Partners have acquired Homestead Station, a mixed-use entertainment destination located on 4.8 acres at 4 S. Krome Ave. in downtown Homestead, about 39 miles south of Miami. LV Lending previously held a first mortgage on the property, and the acquisition was completed through a deed in lieu of foreclosure to Linkvest Capital and MMG Equity. Completed in 2019, Homestead Station is anchored by Evo Entertainment + IMAX, an entertainment venue that features cinemas and bowling, as well as numerous retail and dining establishments. The center also features an 1,100-space parking garage. There is currently 18,000 square feet of vacant space available to lease, according to the new owners.
PEBB, Banyan to Develop 23-Acre Retail Project at Tradition Development in Port St. Lucie, Florida
by John Nelson
PORT ST. LUCIE, FLA. — PEBB Enterprises and Banyan Development have acquired a 23-acre parcel in Port St. Lucie with plans to develop a retail project at the site. Dubbed the Shoppes at Southern Grove, the retail center will be situated within the Tradition master-planned community. This marks the second retail development within Tradition for the joint venture, which acquired the site from an entity doing business as Mattamy Palm Beach LLC for $7.5 million. Upon completion, the project will feature a shopping center on 14.2 acres with additional outparcels available for ground lease ranging in size from 1 to 2.4 acres.