Saturday, August 4, 2012

MetLife Completes Acquistion of Reynolds Plantation in Atlanta, GA


ATLANTA, GA – MetLife announced it has completed its purchase of Reynolds Plantation (top left photo), Georgia’s premier golf and resort community located on Lake Oconee.

The acquisition includes The Ritz-Carlton Lodge, six championship golf courses, four full- service marinas and nearly 5,000 acres of undeveloped golf and waterfront property.

“We are extremely proud to own Reynolds Plantation, a premier community with world-class amenities,” said Robert Merck (lower right photo), senior managing director and global head of real estate investments for MetLife.

“Reynolds Plantation is an exceptional addition to our real estate portfolio and we look forward to investing in Reynolds Plantation’s future to ensure it continues to be recognized for the extraordinary lifestyle it offers.”

As previously announced, Daniel Corporation will oversee the day-to-day operations at Reynolds Plantation. The Daniel team will work in cooperation with MetLife’s Atlanta Regional Office, led by Regional Director Tom Coak ey. The Atlanta office manages the company’s real estate investments in the southeastern United States.

For a complete copy of the company’s news release, please contact:

Christopher Breslin
(212) 578-8824

Marcus & Millichap Sells 3,293 SF Office Building in Melbourne, FL


MELBOURNE, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of single-tenant Melbourne medical office, a 3,293 square-foot office property located in Melbourne, FL, according to Richard D. Matricaria, Regional Manager of the firm’s Orlando office.

The asset commanded a sales price of $1,150,000.

Justin West (lower left photo), an investment specialist in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a bank/financial institution. 

The buyer, a private investor, was secured and represented by Robert Granda and Douglas Mandel (middle right photo) investment specialists in Marcus & Millichap’s Ft. Lauderdale office. 

Melbourne Medical Office is located at 7775 Wickham Road.  Built in 1999 and converted to a medical office building in 2006, the subject has a red brick facade with ample parking and excellent frontage on Wickham Road in Melbourne, Florida. 

This single-story building is 100 percent occupied with an absolute-net lease in place until 2021, and is conveniently located only one mile from Viera Mall, one mile east of Interstate 95, two miles to US 1 and eight miles to Patrick Air force Base.

For a complete copy of the company’s news release, please contact:

 Richard D. Matricaria
Regional Manager, Orlando
(407) 557-3800

Frontier Acquisition Corp. Announces Proposed Qualifying Transaction Comprised of the Acquisition of the Tuccaro Group, an Oil Sands Services Group of Companies


 CALGARY, ALBERTA, CANADA  /CNW/ - Frontier Acquisition Corp. (TSX-V: FFF.P) (the "Corporation" or "Frontier") is pleased to announce that on August 1, 2012 it entered into a definitive arms-length agreement (the "Agreement") with Tuccaro Inc. ("Tuccaro"), Neegan Development Corporation Ltd. ("Neegan Development"), Tuc's Contracting Ltd. ("Tuc"), Neegan Technical Services Ltd. ("Neegan Technical") and Water Pure & Simple (Fort McMurray) Ltd. ("WPS" and together with Tuccaro, Neegan Development, Tuc and Neegan
Technical, the "Tuccaro Group") and David Tuccaro (top right photo), the sole shareholder of each of the Tuccaro Group entities, pursuant to which the Corporation will acquire all of the issued and outstanding shares of the Tuccaro Group entities (the "Transaction").

For a complete copy of the company’s news release, please contact:

Frontier Acquisition Corp.
Bradford N. Creswell
President and Director
Phone: (206) 689-5685
Fax: (206) 204-1710

11th New Condo Tower Prepares To Launch Construction In South Florida


MIAMI, FL - With one new condo tower already completed in South Florida, developers are preparing to launch construction on an 11th new highrise - the latest being the 46-story Mansions at Acqualina (top left photo) in the barrier island city of Sunny Isles Beach - with a groundbreaking scheduled for Aug. 7, 2012 as the post-crash development era gains momentum, according to a new report from

The Mansions at Acqualina's scheduled groundbreaking for the proposed 79-unit oceanfront project on Collins Avenue in Northeast Miami-Dade County comes only weeks after a similar ceremony on July 18, 2012 for the proposed 374-unit BrickellHouse project (lower right rendering) in Greater Downtown Miami, according to a recent report.

As of Aug. 1, 2012, at least 50 condo towers with more than 8,600 units are proposed, planned, under construction, or recently completed in South Florida, according to the Preconstruction Condo Projects list compiled by the licensed Florida brokerage CVR Realty™. 

For a complete copy of the company’s news release, please contact:

Condo Vultures® LLC is a real estate consultancy and marketing company based in the 225 Midtown Building at 225 NE 34th St., Suite 209B, Downtown Miami, Florida, 33137. Condo Vultures® LLC can be reached at 800-750-0517.

Sale of four Class A office buildings in suburban Fort Lauderdale, FL closed by HFF

MIAMI, FL – HFF announced it has closed the sale of a Class A office portfolio consisting of four buildings (top centered  photo) totaling 344,260 square feet in Sunrise, Florida.

HFF marketed the portfolio on behalf of the seller, an institutional investor advised by PNC Realty Investors, Inc.  An affiliate of the sixth investment fund of Atlanta-based The Brookdale Group, LLC purchased the portfolio.

The four buildings are located within Sawgrass International Corporate Park, which is located at the interchange of Sawgrass Expressway and I-595 in the city of Sunrise. 

Constructed in the late 1990’s, the portfolio is approximately 65 percent leased  with a diverse mixture of regional, national and international corporate tenants including Marsh USA, Regus, Foxconn, FIS and Dunn & Bradstreet.

Sawgrass International Corporate Park features more than seven million square feet of office, industrial/flex retail and hotel space overall.

The HFF team representing the seller was led by senior managing director Hermen Rodriguez (top right photo) and director Ike Ojala (middle left photo) and included executive managing director Manuel de Zarraga (lower right photo) and senior analyst Jorge Portela. 

For a complete copy of the company’s news release, please contact:

HERMEN RODRIGUEZ                                     
HFF Senior Managing Director                     
(305) 448-1333                                               

IKE OJALA                                         
HFF Director                                    
(305) 448-1333                               

(713) 852-3500HFF Associate, Marketing

Marcus & Millichap Promotes Bill Rose to Vice President

 SAN DIEGO, CA– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Bill Rose (top right photo) to vice president, according to John J. Kerin (lower left photo), president and chief executive officer.

Rose currently serves as the national director of Marcus & Millichap’s National Retail Group (NRG) and co-national director of its Net Leased Properties Group (NLPG), positions he will continue to hold.

“Bill has been instrumental in helping our retail agents develop new client relationships, in improving our service delivery to major retail investors and in expanding the firm’s retail and net-lease business,” says Kerin. “Bill has increased the firm’s visibility in the retail industry because of his strong affiliations with industry associations and he elevates our direct involvement with ICSC on a national level.”

For a complete copy of the company’s news release, please contact:

Stacey Corso
Public Relations Manager
(925) 953-1716

Coro Realty Advisors Announces Acquisition of Village Place Brookhaven in Atlanta, GA

ATLANTA, GA /PRNewswire/ -- Coro Realty Advisors, LLC announces the acquisition of Village Place Brookhaven's retail, located at 1410 - 1438 Dresden Drive, Atlanta, Georgia  30319. 

Village Place Brookhaven is a mixed-use development containing the 34,789 square feet of retail space purchased by Coro and 41 luxury residences, office condominiums, live/work units and townhomes (not part of the purchase). 

 It includes established retailers like Natural Body, Kaleidoscope Bistro & Pub, J. Christopher's, The Mercantile, Verde Taqueria and Pour Wine Bistro.

Robert Fransen, Chief Investment Officer, believes that Village Place Brookhaven fits well with Coro's strategy of acquiring strategic infill properties. 

"We purchased this property due to its location in a growing area, its unique combination of retailers, its dynamic streetscape and its proximity to quality residential communities,” Fransen says.  “We expect the continued densification of this area to further enhance Village Place's fundamentals." 

Coro intends to hold the property for long term cash flow and value appreciation.  Village Place is located approximately ½ mile east of Peachtree Road in the heart of Brookhaven.

For a complete copy of the company’s news release, please contact:

Teresa Pastore
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek - Suite 100
Atlanta, Georgia  30327
(404) 846-4000

Sperry Van Ness International Expands Presence in Greater Houston, TX Area

 IRVINE, CA – Sperry Van Ness International Corporation, a franchisor for commercial real estate brokerages,  announced the addition of a new franchise in Houston, Texas.

The new franchise is part of Sperry Van Ness International Corporation’s national expansion program which started in 2001 and has grown to more than 1,200 advisors and staff representing more than 175 markets today.

“Sperry Van Ness International Corporation continues to expand in key markets throughout the nation. We are happy to have this Houston office and its successful brokers as part of the SVNI family,” said Kevin Maggiacomo (top right photo), chief executive officer and president of Sperry Van Ness International Corporation. 

Capital Realty will now operate as Sperry Van Ness / Capital Realty, Inc. The office is located at 5177 Richmond, Suite 500 in Houston and is led by managing director, Matt Massey (lower left photo).

.Also on the team is Lou Cassise, senior vice president-development; Alan Alexeyev, analyst; Ronnie Tyson, senior investment advisor; and Natalia Blachuta, business development.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
(949) 278-6224

Two Brooklyn, NY Apartment Buildings Sell for $12.3 Million

BROOKLYN, NY– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of 719-723 8th Ave.(top left photo), two 16-unit four-story apartment buildings totaling 31,100 square feet on one tax lot in Brooklyn’s Park Slope neighborhood.

The sales price of $12.3 million equates to $384,375 per unit and $395 per square foot.

Matthew Fotis (middle right photo), a vice president investments in the Manhattan office of Marcus & Millichap, represented the seller, a private investor. Fotis also represented the buyer, a local private investment fund.

 “This is the largest pre-war apartment building that has sold in Park Slope during the past five years,” says Fotis. “Within three weeks of putting the property on the market we generated more than 20 offers and accepted an offer above our asking price.”

 Built in 1905 on a 100-foot-by-100-foot lot, 719-723 8th Ave. is located one block from Prospect Park and is within easy walking distance of subway stations providing trains to Manhattan. Subway lines F and G are two blocks away and lines D, N and R are four blocks away.

The properties at 719-723 8th Ave. feature six rent-stabilized units, one rent-controlled apartment and 25 deregulated units.

Twenty-one of the 32 apartments have been gut-renovated within the past eight years. Renovations included new sheetrock, electrical wiring and plumbing, new kitchens and bathrooms and new oak floors.

All units have electrical circuit breakers and video intercoms.

Each building has its own laundry room with key card entry. New entryway doors have been installed and the boiler was recently converted to a dual-fuel operating system.


Stacey Corso
Public Relations Manager
(925) 953-1716