CORAL GABLES, FLA. — A group has invested $900 million into a depository institution in order to acquire Coral Gables-based BankUnited from the Federal Deposit Insurance Corp. The investors, led by John Kanas, include funds advised by The Blackstone Group, The Carlyle Group, WL Ross & Co. and Centerbridge Partners. The FDIC acted as BankUnited’s receiver and sold the company’s operations, deposits and assets. Kanas, a 35-year industry veteran, will serve as chairman and CEO of the new financial institution, which will retain the BankUnited name. Bank of America Merrill Lynch Securities and Skadden, Arps, Slate, Meagher & Flom advised the investor group and the new management of BankUnited. Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz also served as advisors.
Southeast
ORLANDO, FLA. — A joint venture between Duke Realty Corp. and CB Richard Ellis Realty Trust has purchased a joint venture interest in the 100,924-square-foot Celebration Office Center III from Duke Realty Corp. for an undisclosed price. The property is located in the Celebration Office Center adjacent to the Walt Disney World Campus in Orlando. The three-story, Class A building will serve as the headquarters of Disney Vacation Development. Mike Davis and Rick Brugge of Cushman & Wakefield’s Tampa, Fla., office represented the seller.
SARASOTA, FLA. — CORE Construction Florida has broken ground on the 84-unit DeSoto Palms senior housing complex. The property is located on DeSoto Road in Sarasota. An investment group headed by Intracoastal Medical Group doctors is funding the $13 million project. Delivery is expected in February 2010.
MIAMI GARDENS, FLA. — Brooklyn, N.Y.-based MarJam Supply Co. has signed a 10-year lease with Boston-based TA Associates valued at $4 million. MarJam will occupy a 65,518-square-foot warehouse, located at 475 N.E. 185th St. in Miami Gardens. This is the company’s first location in Florida, and the firm will hire 20 employees to staff the space. Harry E. Wardell, Steven J. Medwin and Nick Wigoda of Lincoln Property Co.’s Miami office represented the tenant. Brian Smith, Wayne Ramoski and Audley Bosch of Cushman & Wakefield’s Miami office represented TA Associates.
TALLAHASSEE, FLA. — Envision Credit Union has purchased a 3,500-square-foot KFC store from an undisclosed seller for $1.8 million. Located on 0.67 acres at 3519 Thomasville Rd. in Tallahassee, the property is adjacent to the site of a proposed Publix. The buyer is planning to convert the restaurant into a credit union branch. Ted Bollmann and Chris Marino of Tallahassee-based Sperry Van Ness|SouthLand Commercial represented the buyer.
ORLANDO, FLA. — Orlando-based WindCrest Development Group will soon break ground on Aloma Walk Commercial Ventures’ 88,000-square-foot The Shoppes at Aloma Walk. Located at the intersection of Aloma Avenue and State Route 417 in Orlando, the complex will be anchored by a 46,000-square-foot Publix. Orlando-based Cuhaci & Peterson Architects provided design services. The property is expected to open next summer.
PLAQUEMINES PARISH, LA. — North Miami Beach, Fla.-based Hammurabi is developing two fire stations in Plaquemines Parish using structural concrete insulated panel construction. The Boothville-Venice Fire Station and the Port Sulphur Fire Station and EMS Complex will be built to withstand category-4 winds and tidal surges. The 13,000-square-foot Port Sulphur station will include ground-floor breakaway panels and impact-resistant glass. DonahueFavret Contractors will construct the Boothville building, and Aegis Construction will build the Port Sulphur property. Sizeler Thompson Brown Architects designed both stations.
SPARKS, MD. — Fundamental Administrative Services has signed a lease with BPG Investment Partnership VI to occupy a 94,071-square-foot Class A office building. The three-story property is located at 920 Ridgebrook Rd. in Sparks. The company, which is constructing a fitness center in the building, will move into the new space during the fourth quarter. Fundamental will house its consolidated operations in the property, vacating its current location, a 72,406-square-foot office at 930 Ridgebrook Rd. Richie Blue of Timonium, Md.-based Blue & Obrecht Realty represented Fundamental. Hayes Merkert, Athan Sunderland and Danielle Schline of Preston Partners’ Columbia, Md., office represented the landlord.
ORLANDO, FLA. — Brandon Kievit of Marcus & Millichap’s Orlando office has brokered the sale of a 23,622-square-foot retail property between two undisclosed parties for $2.35 million. The building is leased to Sunbelt Rental and includes 7.45 acres of land for future development. The property is located at 608 E. Landstreet Rd. in Orlando.
PRINCE GEORGE’S COUNTY, MD. — The Peterson Cos. has sold 15 acres of land in Prince George’s County to Walt Disney Parks and Resorts for $11 million. The land is located in the 300-acre National Harbor area, a waterfront resort that includes six hotels and the Gaylord National Resort & Convention Center. Disney plans to build a stand-alone resort hotel on the land.