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