Monday, July 11, 2011
FORT LAUDERDALE, FL – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale and serving clients around the state, announced broker Reese Stigliano (top right photo), SIOR, has been awarded an exclusive sales listing from City National Bank for a portfolio of two properties in Coral Springs.
Additionally, Lloyd Berger (lower left photo), president and founder of the firm, has been appointed receiver of two properties in Delray Beach and Hallandale.
City National Bank awarded Stigliano the exclusive sales listing for a portfolio of industrial warehouse buildings in Coral Springs. The portfolio consists of a 5,600-square-foot industrial flex space built in 1999, located at 11820 Wiles Road, and a 7,200-square-foot industrial flex space built in 2005, which is located on adjacent property at 11830-11834 Wiles Road. The portfolio is listed at $1,099,000.
Additionally, Lloyd Berger has been appointed receiver of two properties-- Delray Estates, a 111-residential-unit property located within Lucaya Delray Estates in Delray Beach, and Surfside Apartments, a 28-residential-unit property located on 82nd St. in Miami Beach. Berger Special Assets will manage and lease both properties.
Contact: Marielle Sologuren, Pierson Grant Public Relations, (954) 776-1999, ext. 226, firstname.lastname@example.org
WINTER PARK, FL (July 11, 2011) --Super Shuttle has leased the 17,100 square foot warehouse at 800 W. Landstreet Road from Sheropa, LLC. Greg Rebman of Rebman Properties, Inc. represented the Landlord. Bill Bywater of The Bywater Company represented the Tenant.
Contact: Greg Rebman, SIOR, CCIM, 407.875.8001,
Uniondale, NY (July 11, 2011) –Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, has announced the funding of a $40,700,000 loan under the Fannie Mae DUS® Affordable Housing Loan product line in Newark, NJ.
The Arbor loan refinances First King Apartments (top left photo) in Newark, NJ, a 654-unit complex. The 10-year loan amortizes on a 30-year schedule.
First King Apartments operates in the strong residential market of Northern New Jersey in which vacancy rates are currently hovering around five percent. Job losses in the immediate area have also been on a steady decline since 2009 and rental demand in the market is expected to grow moving forward.
Originating the loan for Arbor was Stephen York (lower right photo), Director, in Arbor’s New York City office.
“Our client in this transaction significantly improved the physical condition and operations of the property over a four year span in order to take advantage of attractive long-term fixed rate financing,” York said. “In an environment where most lenders are shying away from large transactions, Arbor thrives and continues to deliver liquidity to the market.”
Contact: Christopher Ostrowski, http://email@example.com
Boston, MA --Ted M. Sidel (middle right photo) and Brian D. Sheehan (lower left photo) of EagleBridge Capital have arranged long term, fixed rate mortgage financing in the amount of $10,000,000 for the 9/27 Shopping Center (top left photo) located in Natick, Massachusetts. EagleBridge arranged the financing with a leading insurance company.
The 9/27 Shopping Center is an 85,060 square foot retail center anchored by a Super Stop & Shop Supermarket located at the intersection of Routes 9 and 27. Route 9 is a major retail corridor especially along the portionwhich extends through Natick and Framingham.
The 9/27 Shopping Center is professionally managed by Finard Properties and was developed in the late 1970’s by an affiliated entity. The center has been continuously updated over the subsequent years and has been a consistently strong performer.
Mr. Sidel and Mr. Sheehan stated, “This is an outstanding property with a great location. Average daily traffic count is 55,000. There was a great deal of interest in this center from insurance companies, CMBS lenders, and banks. The potential lenders were extremely impressed with the quality of the center and its management.”
EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for retail buildings, shopping centers, condominiums, apartments, office, industrial, and r & d buildings, hotels, and mixed use properties as well as special purpose buildings.
Contact: Ted Sidel, (617) 292-7177, Ext. 10