Saturday, February 23, 2013

1,450 New Condo Units Proposed For Hollywood / Hallandale Beach, Florida Market

Apogee Beach Condominiums rendering
Miami Beach, FL

 MIAMI, FL -- Developers are proposing nearly 1,450 new condo units - in projects such as the Beach One Resort, H3, Positano Phase II, and Sage Beach - in the Hollywood / Hallandale Beach coastal market in Southeast Broward County at a time when South Florida real estate shows signs of improving from a crash that began in 2007, according to a new report from

The Related Group - a Miami-based developer that is already constructing the Apogee Beach condominium fronting the Atlantic Ocean in Hollywood - hosted a condo launch party on Feb. 21 to officially begin sales for a second proposed project - the Beachwalk - slated for a nearby site in the city of Hallandale Beach, according to the newly launched preconstruction condo project website

A combination of domestic and international developers - in unrelated projects - are proposing to construct 11 towers with a combined 150 floors of units in a market that stretches from the Sheridan Street south to the Miami-Dade County line, and the Atlantic Ocean west to Federal Highway as of Feb. 22, 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® LLC
225 Midtown Building 
225 NE 34th St.,
Suite 209B,
Downtown Miami, Florida, 33137.

New Casa Mofongo Restaurant at Downtown Avalon Park,FL means 65,000-SF Town Center is fully leased

AVALON PARK, FL --- Avalon Park Group, which is developing the 1,800 acre Avalon Park community in southeast Orlando, reports it recently closed on a new long term lease agreement for 1,769 square feet of retail space in the Towncenter II building in Downtown Avalon Park with Casa Mofongo, a very popular franchise from Puerto Rico.

Stephanie Hodson, vice president of marketing at Avalon Park Group, said the new lease marks two important milestones for the community developer.

Downtown Avalon Park, FL
“Casa Mofongo is the 15th and newest dining venue in Downtown Avalon Park,” Hodson said.

In addition, the new Latin eatery, which seats 60 patrons took the last available retail space that Avalon Park Group owns in the 65,000 square foot downtown district.   The anticipated open date is at the end of March 2013.

“We are 100 percent leased,” Hodson said. Avalon Park is located off Alafaya Trail south of SR 50 in Southeast Orlando.


Stephanie Hodson, Vice President of Marketing, Avalon Park Group 407-658-6565 
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

Charles Dunn Co. Completes $1.82 Million Sale of 10-Unit Multifamily Property in Los Angeles, CA

3311 Bagley Ave., Los Angeles, CA
 LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the $1.82 million sale of a 10-unit multifamily property located at 3311 Bagley Ave. near the major cross streets of National Blvd. and Robertson Blvd. in Los Angeles.

Michel Hibbert, CCIM, and Dan Johnson with Charles Dunn Company in the West Los Angeles office, represented the seller, Los Angeles-based Chiueh Family Trust. 

Michel Hibbert
The buyer, was Los Angeles-based Marble Family Trust who was represented by Maurice Morales of Coldwell Banker. The closing cap rate was 4.5 percent. 

The property includes six, one-bedroom/one-bathroom units, two, two-bedroom/two-bathroom units, one studio and one, three-bedroom/three-bathroom unit. The property was fully occupied at the close of escrow. 

Dan Johnson
“The asset was marketed to the local apartment ownership base and we focused on the value-add opportunity for a new buyer to bring the rents up to market rates and renovate the property.  After aggressively marketing the property, we were able to garner a final sale price of 99.7 percent of the asking price.”

Michel Hibbert has completed more than $500 million in transactions over his career and has been one of Charles Dunn Company’s top multifamily brokers year-over-year for the firm.

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

 Darcie Giacchetto
D.G. Communications, Inc.

Beech Street Capital Recruits Carolyn Whatley to Continue Building HUD and FHA Business

Carolyn Whatley
BETHESDA, MD – Beech Street Capital, LLC, announced today that it has named Carolyn Whatley senior vice president of originations.

Based in Palm Beach, Florida, Whatley will support Beech Street’s FHA business nationwide, with an emphasis in the southeast.

A twenty-five-year veteran with extensive experience in multifamily finance and development, Whatley has originated, underwritten, or closed nearly $1 billion in multifamily and commercial real estate loans for projects in 43 states.  

 ”During our first three years, we’ve established ourselves as national leaders in Fannie Mae and Freddie Mac transactions,” says Grace Huebscher, Beech Street’s president and CEO.  “Our HUD business has been growing exponentially, and bringing Carolyn on board is part of our strategy to build a leadership position in that business as well.” 

 Prior to joining Beech Street, Whatley was first vice president at Love Funding Corporation, where she was honored as top producer in 2005 and for closing the firm’s largest single transaction in 2005 and 2009. 

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

 Courtney Lewis  

Jenifer Bernardi  

$12.2 Million Shopping Center Sale in Waterbury, CT Arranged by Marcus & Millichap

Joseph French
WATERBURY, CT– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Mattatuck Plaza, a 146,930-square foot community shopping center in Waterbury, Conn. The sales price of $12.2 million equates to $83 per square foot.

Thomas Dalzell
Joseph French, a senior director in the firm’s National Retail Group, and Thomas Dalzell, an associate director, both in Marcus & Millichap’s White Plains, N.Y. office, represented the seller, a Boston-based private investment firm and the buyer, a private investor based in Florida.

J.D. Parker, vice president and regional manager of the White Plains office, is Marcus & Millichap’s broker of record in Connecticut.

J.D. Parker
 “Mattatuck Plaza was 80 percent leased at the time of the sale and  attracted a great deal of interest from a wide range of investors who saw the upside potential in the lease-up of 30,050 square feet,” says French.

            Located at 650 Wolcott St., the property is one mile from the 1.2-million square foot Brass Mill Center & Commons mall in Waterbury.

            Tenants at Mattatuck Plaza include Big Lots, Savers, Harbor Freight, Dollar Tree, Chuck E. Cheese and Rainbow.


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