Saturday, August 31, 2013

Emerson International Negotiates Nine Central Florida Lease Agreements Totaling About 50,000 SF in Altamonte Springs, Longwood, Orlando and Maitland

5750 Major Boulevard, Major Center Plaza, Orlando, FL

Altamonte Springs, FL. --- Emerson International recently negotiated nine commercial lease agreements that total close to 50,000 square feet of office space in Orlando, Longwood, Maitland and Altamonte Springs.

Kenneth Koch
Kenneth Koch, director of leasing at Emerson International, negotiated three lease agreements that total more than 37,500 square feet.

Glickstein, Laval and Carris, P.A. a CPA firm leased 6,702 square feet at Emerson’s CenterPointe II office building at 220 E. Central Pkwy. in Altamonte Springs.

Braishfield and Associates, insurance agents and brokers expanded their offices at 5750 Major Blvd. in Major Center Plaza II near International Drive in southwest Orlando by 1,012 square feet to a total of 9,177 square feet.

Sanlando Center, Longwood, FL

Alorica, Inc. renewed its lease of 29,786 square feet in the Sanlando Center II office building at 2180 S.R. 434 in Longwood.

Emerson International commercial leasing associate Zac Starkey negotiated six lease agreements that total close to 10,000 square feet of office space.

Fortune Portfolio Processor Service Group leased 1,150 square feet and Sagamore Home Mortgage leased 1,196 square feet in the CenterPointe Office Park, 370 CenterPointe Cr. in Altamonte Springs.

CenterPointe Office Park
Altamonte Springs, FL
At Louisiana Office Park on Louisiana Ave. in Winter Park, Starkey leased 1,642 square feet to The Maitland Group an insurance company, and 220 square feet to Anchor Counseling which provides family counseling, therapy and psychological testing.

Starkey negotiated a lease agreement for 3,445 square feet at 2600 Maitland Center Parkway on behalf of tenant Home Care Connect which provides non-medical home care to seniors.

Louisiana Office Park, Winter Park, FL
At Sanlando Center on SR 434 in Longwood, Starkey leased 1,771 square feet to GeoTel Communications a global provider of customer-interaction software solutions for mission-critical call center applications.

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

Beth Payan or Larry Vershel Communications, 407-644-4142      

Avalon Park to Host Ground Breaking Ceremony to Start Construction of Encore Assisted Living Community

Orlando, FL --- Avalon Park in east Orlando will host a ground breaking ceremony to mark the start of construction of the Encore at Avalon Park, an assisted living and memory care community located at 13798 Cygnus Drive in downtown Avalon Park.

Stephanie Hodson
Stephanie Hodson, vice president of marketing for Avalon Park Group, said the event is scheduled for 5:30 p.m., on Tuesday Sept. 10.

The 80,000 square foot, three-story building will offer 90 residential units along with a state-of-the-art Alzheimer’s Care Center with 128 licensed beds.  Each residential unit is part of a neighborhood where residents are able to continue the way of living they’re used to with small living room and dining areas. 

Avalon Park’s Encore Assisted Living Facility will be managed by MJM Associates.

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

Beth Payan or Larry Vershel Communications, 407-644-4142      

Forman Capital closes on Two Commercial Property Loans in one day that total $8.45 million

Ramada Winston-Salem, Winston-Salem, NC

PALM BEACH, FL -- Forman Capital, a private equity company that focuses on loan transactions that range from $2.5 million to more than $15 million, recently closed on two commercial property loans in North Carolina that total $8.45 million.

Brett Forman
Brett Forman, founder and president of Forman Capital LLC, said they funded a $4.2 million first mortgage secured by a shopping center in High Point, N.C., and a $4.25 million first mortgage secured by 191-room Ramada Hotel in Winston-Salem, N.C. last month.

A direct lender for commercial real estate nationwide, Forman Capital closed on commercial property loans that total more than $35 million over the past 60 days.

“We are able to provide flexibility and a fast, reliable closing process to accommodate the unique business plans of our borrowers,” Forman explained.

Bank Lending Regulations Provide Impetus for Growth of Forman Capital

Palm Beach, FL--- A stiff regulatory environment governing how banks lend money to real estate investors and business owners is increasing the market for entrepreneurial real estate lenders such as Forman Capital.

Brett Forman, founder and president of Forman Capital, LLC said banks are not lending nearly as much capital as they should or as they have in the past.

“That’s slowing the economic recovery, and I think you can pin most of the blame on the regulatory environment,” Forman said.

“As a private commercial real estate firm, we aren’t hampered by the same regulations,” he said. “For us, the guiding principles are valuations, analysis and experience, and that gives us an enormous edge.”

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

 Brett Forman or Dan DeMott 

Beth Payan or Larry Vershel Communications, 

Friday, August 30, 2013

2nd New Condo Project Completed In South Florida Since 2007 Market Crash

4001 North Ocean Drive, Gulf Stream, southeast Palm Beach County

Apogee Beach condos, Hollywood, FL
MIAMI, FL -- With at least 160 new condo towers already proposed for South Florida, a second condo project has been completed while at least four more towers are scheduled to be delivered before the end of the year as the region's real estate market shows signs of recovering from the dramatic downturn of 2007, according to a new report from

The newly completed 4001 North Ocean condominium complex with 34 units in Gulf Stream in Southeast Palm Beach County originally filed its "notice of commencement" to launch construction of the pair of six-story buildings fronting the Atlantic Ocean in February 2012, according to Palm Beach County records.

Bellini at Williams Island condos, Aventura, FL
In addition to the 4001 North Ocean project, four other condo projects - Apogee Beach in Hollywood, Bellini At Williams Island in Aventura, MyBrickell in Greater Downtown Miami, and the Regalia in Sunny Isles Beach - are expected to complete construction by the end of 2013, according to marketing literature from each project.

Remdering MyBrickell condos
Downtown Miami, FL

In Palm Beach County, a combination of domestic and international developers - in unrelated projects - are proposing to construct 23 towers with nearly 2,100 new condo units in a market that stretches from Boca Raton north to West Palm Beach north to Jupiter on the east side of Interstate 95 as of August 29, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

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

Condo Vultures®
225 Midtown Building
225 NE 34th St.,
Suite 209B
Downtown Miami, Florida, 33137.

Marcus & Millichap Expands Its East Coast Presence with Opening of New Boston Office

100 High Street, Boston, MA

Thomas Gorman
BOSTON, MA, Aug. 30, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has opened a new office in Boston according to John J. Kerin, president and chief executive officer. Thomas Gorman will oversee the office as its regional manager. Gorman also oversees the firm’s Providence, Rhode Island office.

            The Boston office is located at 100 High Street, Suite 1025, Boston. The phone number is (617) 896-7200 and the fax number is (617) 896-7210.

John J. Kerin
             “As we continue to grow our market share on the east coast, expanding with a new office in Boston to serve the needs of investors in the greater New England area makes strategic sense,” says Gorman. 

“This endeavor represents our last flagship office opening in a major market. Our plan is to grow a more substantial presence in the New England market,” Gorman concludes.

            “The Boston office addition further strengthens our position as the leading real estate investment services firm in the United States,” adds Gene Berman, executive vice president and managing director. “Now is the time to push forward with our expansion plans and seize investment opportunities in New England.”

Gene Berman
In addition to Marcus & Millichap’s new full-scale office, located in a Class A building in Boston’s financial district, its presence on the east coast also includes the recent expansion of its bustling Manhattan office, with space for hiring another 35 employees.
 For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager
(925) 953-1716

IPA Arranges Bulk Sale of 90 Condominiums for $26.5 Million

Tower I at Monarch at Ridge Hill condos, Westchester County, NY

YONKERS, N.Y., Aug. 30, 2013 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the bulk  sale of the remaining 90 units in Tower I at Monarch at Ridge Hill,  a 163-unit luxury condominium complex located in the heart of Westchester County.

Victor Nolletti
The sales price of $26.5 million equates to $294,712 per unit.

            IPA senior vice president investments Victor Nolletti, IPA senior vice president investments Steve Witten and Jacob Levy, a Marcus & Millichap first vice president investments, advised the seller, Horizon at Ridge Hill LLC. Nolletti, Witten and Levy also advised the buyer, UOB Eagle Rock Multifamily Property Fund LP.

 J.D. Parker, first vice president in Marcus & Millichap’s Manhattan office, is the firm’s broker of record in the state of New York.

Steve Witten
            Built in 2007, Monarch at Ridge Hill is located just 11 miles from the George Washington Bridge and only 16 miles from Manhattan’s Upper West Side.

Monarch at Ridge Hill is a “New Urbanism” residential development that combines traditional planning and modern technology. 

Nestled within a hilltop village with sophisticated shopping, dining and entertainment, the property is set in a pedestrian-friendly neighborhood with a mix of open spaces, everyday conveniences and activities within a five-minute walk.

Jacob Levy
 The mid-rise steel, concrete and glass building features high-quality luxury interior finishes, expansive residences with private balconies and spectacular views.

            Tower I is part of a master development that provides walking access to healthcare, Whole Foods, high-end retail stores and restaurants of every variety.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Anantara Vacation Club Opens First Purpose-Built Club Resort With Launch of Anantara Vacation Club Phuket Mai Khao

Anantara Vacation Club Phuket Mai Khao, Thailand
15 minutes from Phuket International Airport

Bangkok, THAILAND,  Aug. 30, 2013: Anantara Vacation Club, a unique Shared Ownership concept launched in 2010 by Anantara Hotels, Resorts & Spas, is pleased to announce the official opening of its first purpose-built Signature Club Resort – Anantara Vacation Club Phuket Mai Khao.

Harold Derrah
Located in northwest Phuket, the new resort is 15 minutes from Phuket International Airport and sets a new benchmark of quality and flexibility for vacation clubs across Asia and beyond in terms of exclusivity, space and choice.

This new Anantara Vacation Club resort joins the portfolio’s existing selection of luxury private villas on the islands of Koh Samui, Thailand and Bali in Indonesia, along with a selection of suites in Bangkok, Thailand, Sanya on Hainan Island in China, and in Queenstown, New Zealand.

Harold Derrah, CEO of Anantara Vacation Club, commented, “We are very excited to open our first purpose-built AVC resort here in Thailand. Being such a key location in Asia for shared ownership resorts, Phuket was the obvious choice of destination for our first signature property, which offers the ultimate guest experience for our Owners.”

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

Hwee Peng Yeo
Director of Asian Markets
Glodow Nead Communications
Level 21, Centennial Tower
3 Temasek Avenue
Singapore 039190

Atlantic | Pacific Companies Acquires Two New Properties in Atlanta, GA with the Addition of Morningside Courts and Sloan Square

MIAMI, FL – On the heels of acquiring ten multifamily communities throughout the Southeast in the past 18 months, Atlantic | Pacific Companies (A | P Companies), is pleased to announce the acquisition of Morningside Courts (Morningside) and Sloan Square (Sloan).

Sloan Square Apartments
on Lavista Road, Emory University area
Both Morningside and Sloan are located within the desirable central core of Atlanta, and further diversify and complement A | P Companies’ existing Atlanta holdings.    

 Morningside Courts, located just off of Piedmont Road in the Midtown submarket, is a 172 unit, garden-style apartment community featuring one and two bedroom floor plans. 

Units are equipped with stacked washer and dryers, large walk-in closets, gas fireplaces in select units, and private balcony or patio. Community amenities include resort style swimming pool with a large sundeck, a 24-hour fitness center, and is within walking distance to several restaurants and nightlife destinations.

Mark Briggs
Sloan Square, located on Lavista Road in the Emory University area, is a 197 unit, garden-style apartment community featuring one and two bedroom floor plans. Units feature fully equipped kitchen, walk-in closets, vaulted ceilings in top floor units, fireplaces in select units, and balconies or patios with storage. The community amenities include two outdoor swimming pools, a fitness center, and car care area.

 A | P Companies plans to make capital improvements to both properties including enhancements to the clubhouses, fitness centers and pool areas, as well as improvements within the units. Atlantic | Pacific Management, the property leasing & management platform under A | P Companies, will handle all property management responsibilities for both properties.

Mark Briggs, Senior Managing Director at A | P Companies, says “A | P Companies is excited to expand its holdings in the Atlanta market, particularly within Atlanta’s central core.  Both properties have attractive ‘walkability’ factors to retail and restaurants, an increasingly important factor to our apartment residents.”

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

Jessica Wade Pfeffer
Jessica Wade Inc.


Cousins Properties Taps Vantage Realty and CBRE Retail Teams to Lease Retail Space at Emory Point and Terminus in Atlanta, GA Area

Rendering of Emory Point in the Clifton corridor of metro Atlanta, GA

Amy Fingerhut

 ATLANTA, GA (Aug. 30, 2013) – Cousins Properties (NYSE: CUZ) has chosen to lease its Atlanta retail space at Terminus in Buckhead and Emory Point in the Clifton corridor through relationships with CBRE Group Inc. and Vantage Realty Partners, respectively.

 CBRE and Vantage will connect best-in-class retailers with two of Atlanta’s premier mixed-use developments. Cousins will continue to lease and manage the office component of Terminus.  Gables Residential will continue to manage the residences at Emory Point, which it is co-developing with Cousins.

 Amy Fingerhut of the Atlanta office of CBRE will represent retail leasing at Terminus, a Cousins master-planned project with well-known restaurants, first-class office space, luxury multi-family homes and street-level retail. 

Brittany McCall
CBRE is a major customer at Terminus, at the intersection of Peachtree and Piedmont roads in Buckhead.

 “We’re excited to continue our strong relationship with Cousins Properties,” said Fingerhut, a senior associate with CBRE’s Atlanta Retail Services Group. 

“We’ve seen this intersection evolve so much since Cousins began developing Terminus, and we’re thrilled to contribute to the continued momentum. We look forward to completing the retail mix at this world-class project.”

Brittany McCall with Atlanta-based Vantage Realty Partners will represent retail leasing at Emory Point, Cousins’ $170+ million mixed-use project being developed with Gables Residential in northeast Atlanta.

Terminus, Atlanta, GA
 “Emory Point is positioned in one of the most dynamic markets in metro Atlanta, near the Centers for Disease Control and Prevention, Emory University and Emory Healthcare,” said McCall, an associate at Vantage.

 “Cousins and Gables have an impressive vision of serving this fast-growing area with a strong selection of stores, restaurants and residences. We’re excited about bringing the best mix of retailers to the Clifton Corridor.”

Emory Point  is the first ground-up retail development in the Emory market in 20 years, and was one of the first construction projects started in Atlanta after the recession. The development has approximately 8,000 square feet of retail space available for immediate occupancy and an expansion phase with approximately 42,000 square feet for lease in two new buildings. 

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

Rachel Tobin
Jackson Spalding                                                                                                                     
(404) 724-2501

Thursday, August 29, 2013

Marcus & Millichap Arranges Sale of 20-Unit Apartment Building in Hollywood, FL

Arthur Street Apartments, 6051 Arthur Street, Hollywood, FL

HOLLYWOOD, FL, Aug. 29, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Arthur Street Apartments, a 20-unit apartment property located in Hollywood, FL. The asset sold for $1,330,000.

Derek R. Gibbs
Senior Associates Derek R. Gibbs and Daniel J. Cunningham and Vice President Investments Tal I. Frydman in Marcus & Millichap’s Ft. Lauderdale office had the exclusive listing to market the property on behalf of the seller, a limited liability company from Hallandale, FL. 

The buyer, a private investor from Hollywood, was secured and represented by Gibbs, Cunningham and Frydman as well as Hernando Perez, an Associate, also in Marcus & Millichap’s Ft. Lauderdale office. 

“The buyer purchased the property to replace the income from a building he had recently sold. The buyer’s investment model is based on a long term hold, a hedge against the risk of inflation, cash flow and management. The property traded quickly with a bank loan at market rate and terms,” says Gibbs.

Daniel J.
“We are seeing demand, as well as prices, for apartment buildings in Hollywood increase – especially for stabilized properties with strong cash flow.  Properties in the five to 50 unit ranges typically sell to investors from Broward and Miami-Dade County, who have the local infrastructure to support the management intensity of operating a multifamily property.

“These owners are typically looking to hold and operate the properties as long-term investments which will help the improving market as these investors will take better care of the properties and cover the expenses that come with the fruits of the cash flow,” he adds.

Tal I. Frydman
The Arthur Street Apartments is a 20-unit apartment complex that consists of one two-story building on an 0.81 acre lot.  

The building is comprised of one one-bedroom/one-bathroom unit and 19 two-bedroom/two-bathroom units. All of the units have central air-conditioning and fenced-in patios with outside storage.  There are 40 parking spaces and onsite laundry facilities.

The property sits just north of Hollywood Boulevard and just east of the Florida Turnpike, within minutes of Interstate 95 and US 441. Arthur Street Apartments is located at 6051 Arthur Street in Hollywood, FL. 

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

Gregory Matus
Regional Manager
Vice President
Fort Lauderdale, FL
(954) 245-3400

NAI Realvest negotiates $1 million sale price for 13,500-SF Assisted Living Facility on 12.7 acres in Apopka, FL

Assisted Living Facility, 700 East Welch Road, Apopka, FL

Paul Partyka
 ORLANDO, FL– NAI Realvest recently negotiated the $1 million sale of a 13,500 square foot assisted living facility and its 12.7-acre site at 700 East Welch Road in Apopka.

Paul P. Partyka, principal and managing partner at NAI Realvest, negotiated the transaction.

Business Support Services Group acquired the site from the Central Florida Association for Christian Scientists and plans to continue operating the facility to provide assisted living care.  

Renovations are planned prior to a grand opening, Partyka added.

2202---2204 South Atlantic Avenue
New Smyrna Beach, FL
Half Acre Multifamily Development Site Sold on A1A in New Smyrna Beach, FL

New Smyrna Beach, FL -- NAI Realvest, based in Orlando, recently negotiated the sale of 0.52 acres of multifamily residential development land located at 2202---2204 South Atlantic Ave. in New Smyrna Beach.  

Chris Butera

Chris Butera, investment associate at NAI Realvest, brokered the transaction representing the seller, TD Bank of Portland, Maine.      

 The buyer, Scarpello Development, based in Hawthorne, Fla. outside of Gainesville, paid $202,500 for the property which is located one block from the beach.

NAI Realvest relocates headquarters from Maitland to 1800 Pembrook Drive,Orlando, FL

Pembrooke Commons
1800 Pembrooke Drive, 
Orlando, FL
ORLANDO, FL --- NAI Realvest, which ranks as one of the area’s largest commercial property managers and brokers, relocated its headquarters.

Robin Webb, managing director of NAI Realvest, said there were many great memories at the firm’s signature offices on Lucien Way just outside Maitland Center but it was time for the firm to elevate its presence in the Orlando market. 

  The firm, which opened its doors in 1982, had been headquartered there for more than 20 years.

Robin Webb
Webb said NAI Realvest moved into 11,000 square feet of new office space at the Pembrook Commons Building located at 1800 Pembrook Drive, Suite 350, Orlando, FL 32810.

“We not only have more space---about 1,000 square feet---but more importantly we have more updated space that is much more organized and efficient.  This provides the opportunity to selectively add new members to this already highly productive team,” Webb  said.
 For a complete copy of the company’s news releases, please contact:

Beth Payan, Larry Vershel Communications 407-644-4142

Bull Realty Brokers $10.8 Million Sale of Spartanburg County, SC Manufacturing Plant

Former manufacturing and distribution facility of Lear Corp.
 1200 Woods Chapel Road, 
Duncan, SC

Virginia Wright

ATLANTA, GA (Aug. 29, 2013) – Bull Realty has brokered the $10.8 million sale of a 156,800-square-foot manufacturing and distribution facility in Spartanburg County, S.C. RT Woods Chapel LLC, an affiliate of the publicly traded REIT Chambers Street Properties LLC, bought the property, which is located at 1200 Woods Chapel Road, from ACPS LLC. Lear Operations Corp., a supplier of plastic automotive components, occupies the plant.

 Virginia Wright, CCIM, vice president of net lease investments at Atlanta-based Bull Realty, represented the buyer in the transaction, and Dick Merritt, CCIM,  president of Greenville, S.C.-based Merritt and Company, represented the seller.

 “In today’s marketplace, investors are hungry for net-leased properties such as 1200 Woods Chapel Road,” said Michael Bull, president and founder of Bull Realty. 

“These properties typically offer landlords the stability and security of financially strong tenants on long-term leases, and Virginia did an outstanding job in guiding our client to just such a facility in Spartanburg County.”

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

  Savannah Duncan
The Wilbert Group
O:  404.343.0870
C: 404.901.4433

Morrison Commercial Real Estate Complete Two Lease Transactions Totaling 15,416 SF in Maitland, FL

Maitland Forum office complex, 2600 Lake Lucien Drive, Maitland, FL

Emily Zinaich

ORLANDO, FL --  Morrison Commercial Real Estate announced the completion of two lease transactions totaling 15,416± square feet.

Emily Zinaich of Morrison Commercial Real Estate represented the landlord in leasing 12,779± square feet to Branch Banking and Trust Company at the Maitland Forum building located at 2600 Lake Lucien Drive, Orlando, FL.  Chris Sproles of CBRE represented the tenant in this transaction.

 Zinaich also represented the landlord in leasing 2,637± square feet at the Maitland 100 building located at 2300 Maitland Center Parkway, Maitland, FL.  Sproles of CBRE represented the tenant, GRAEF – USA, Inc. in this transaction.   

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

Marylyn Tryon
Administrator and Marketing Assistant
Morrison Commercial Real Estate
255 S. Orange Avenue, Suite 1545
Orlando, Florida 32801
407.440.6639 Direct Dial

VCBRE Orlando Closes 989-Unit Apartment Portfolio in Orlando's Rosemont Neighborhood

Apartment portfolio includes Village Lakes, Village Townhomes and Village Park
Rosemont Neighborhood, North Orlando, FL

Shelton Granade
 ORLANDO, FL-- CBRE is pleased to announce that it has sold an apartment portfolio consisting of Village Lakes, Village Townhomes, and Village Park in Orlando. Completed in 1985/86, the portfolio totals 989 units in the Rosemont neighborhood of Orlando.

Luke Wickham
Shelton Granade, Luke Wickham, and Justin Basquill of CBRE’s Orlando office exclusively represented the seller in the transaction. All three assets sold to a California-based owner/operator.

The properties offer 1, 2, and 3-bedroom floor plans with water views of Lake Orlando and individual amenity packages at each property including swimming pools, fitness centers, and clubhouses. The communities were 93% occupied at closing.

CBRE’s Central Florida Multi-Housing Group continues to be the market leader, and has closed more than $490,000,000 in the Orlando MSA thus far in 2013.

Justin T. Basquill
For a complete copy of the company’s news release, please contact:

Shelton Granade, Luke Wickham, Justin Basquill
Executive Vice President,  First Vice President,  Director of Operations
T 407.839.3103, T 407.839.3130, T 407.839.3169