Thursday, October 10, 2013

$32 Million Tampa Palms Multifamily Sale Arranged by IPA

Bristol Place Apartments of Tampa Palms, 15210 Amberly Drive off Bruce B. Downs Boulevard in Tampa Palms, Tampa, FL

TAMPA, Oct. 10, 2013 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of Bristol Place Apartments of Tampa Palms, a 340-unit multifamily complex in Tampa. The $32 million selling price equates to more than $94,000 per unit.

Jamie B. May
IPA Florida executive director Jamie B. May advised the seller, AVR Realty Co. The buyer is Preston Giuliano Capital Partners.  

“Bristol Place Apartments of Tampa Palms has tremendous value-add potential through strategic capital investments in interior unit renovations,” says May. “The asset also provides new ownership with an opportunity to capitalize on rental rate increases as the apartment market is expected to enter a prolonged recovery period.”

The property was built in 1992 on 22 acres at 15210 Amberly Drive off Bruce B. Downs Boulevard in Tampa Palms, a 5,400-acre master-planned community complete with apartment homes, churches, dining facilities, homes, offices, recreational facilities, schools and shops. Interstates 75 and 275 are both within two miles of the property.

Bristol Place Apartments of Tampa Palms is a gated community that features Mediterranean-style architecture, barrel tile roofs and 167 detached garages. The complex is composed of 20 two- and three-story residential buildings with one-, two- and three-bedroom floor plans averaging 1,040 square feet.

Community amenities include a resort-style pool, a gazebo-covered spa, built-in gas grilling area, a separate lap pool, tennis court, car wash area, a playground and a lavishly appointed grand clubhouse with a business center, coffee bar, Nautilus fitness center, and indoor racquetball court.

Every unit interior has a built-in entertainment center, full-size washer and dryer, walk-in closets, large Roman-style soaker tubs, real wood Shaker-style cabinetry with custom wine rack, glass enclosed showers, ceramic tile, four-panel French doors, a security monitoring system and a full appliance package. All residences have balconies or patios with multiple French doors to an amply screened-in area with ceiling fans. 

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

Gina Relva
Public Relations Manager

(925) 953-1716

$16.4 Million BJ’s Wholesale Ground Lease Sale in Revere, MA Arranged by Marcus & Millichap


REVERE, MA, Oct. 10, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of the ground lease on a 120,224-square foot BJ’s Wholesale Club retail store in Revere, Mass. The $16.4 million sales price equates to $136 per square foot.

Robert Horvath
            Robert Horvath, a vice president investments, and Todd Tremblay, also a vice president investments, both in Marcus & Millichap’s Boston office, represented the seller, William Thibeault, owner of Rumney Marshview LLC. The buyer is a local private investor.

            “Low interest rates and strong retail operations continue to draw net-leased investors to the Boston area,” says Horvath. “The Revere BJ’s Wholesale Club is in a well-established trade area with close proximity to numerous national tenants.”

“BJ’s signed the original 15-year ground lease in March 2008,” adds Tremblay. “The lease includes one five-year and six 10-year options and rental increases are scheduled every five years throughout the base term and option periods,”

Todd Tremblay
Built in 2009 on a 13.88-acre parcel, the property is located approximately six miles from downtown Boston at 5 Ward St. just off Route 60 in Revere, Mass.

The location is easily accessible from Route 1, a main thoroughfare. Local, regional and national tenants in the area include CVS, Family Dollar, Burlington Coat Factory, Uno Chicago Grill, McDonald’s, East Boston Savings Bank, Wendy’s, Dunkin’ Donuts, AutoZone, Dollar Tree, Price Rite and Taco Bell.

The property includes a full service gas station for club members.

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

Gina Relva
Public Relations Manager

(925) 953-1716

Chairman Debra Still to Lead MBA Charitable Efforts

Debra W. Still
Washington, D.C. (Oct. 10, 2013) – Today the Mortgage Bankers Association (MBA) announced that its Chairman, Debra W. Still, CMB, will assume leadership of the group’s charitable efforts, effective immediately. The MBA Opens Doors Foundation was established as the umbrella organization for MBA’s charitable giving platform.

MBA Opens Doors was developed as an industry association model for utilizing both expertise and resources to help individuals and families dealing with challenging situations.

The first initiative is a monthly housing payment grant program. It provides assistance to families with a critically ill or injured child, so that parents may take time away from work to spend precious moments with their children without jeopardizing their home.

To date, MBA Opens Doors has raised over $275,000 and has given 48 grants to deserving families in the Washington, D.C., metro area.

David H. Stevens
“Deb is one of the most passionate, talented, hard-working leaders in our industry and we are thrilled she has agreed to lead MBA’s charitable initiatives,” said David Stevens, MBA’s President and CEO.

 “If she brings half the leadership, passion and energy to this position that she has exemplified over the last year as MBA’s Chairman, the Opens Doors Foundation will be in great hands.”

“Being MBA Chairman for the past year has been one of the great honors of my career,” said Still. “The opportunity to serve our industry by helping homeowners and renters in need is a privilege, and I am excited by the challenge of both growing the MBA Opens Doors Foundation and broadening its reach.”

Still continued, “There are so many families across the country dealing with difficult financial situations related to caring for a critically ill or injured child.  

"Our mission, which is very much aligned with our commitment to the real estate finance industry, is to help with housing expense relief and make life just a little easier for as many of those families as we can. 

"We look forward to offering lenders and all others a new and meaningful way to experience the joy of giving.”

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

Shawn Ryan
(202) 557-2727

CrowdVested Launches in Georgia


ATLANTA, GA (Oct. 10, 2013) – CrowdVested, a crowdfunding platform focused on commercial real estate, officially launches today in Atlanta. CrowdVested offers real estate developers a fundamentally new way to raise capital and provides everyday people a vehicle to invest in commercial real estate deals.

Grady Thrasher

Until recently, crowdfunding has been limited to people wanting to make donations or to buy goods; it has not been possible to truly invest in a great idea and receive a share of the profits.

 CrowdVested operates under the Invest Georgia Exemption, which allows Georgia residents to crowdfund investments within the state. Georgia is one of only two states in the country that has legalized crowd investing.

 “We saw an opportunity to fill a void in the Georgia real estate market,” said Grady Thrasher, CEO of CrowdVested, who has extensive experience in business law and working with startups.

“CrowdVested offers another way for local projects to get the last chunk of financing that they need, and equally importantly, it gives investors a way to profit from real estate projects that help their communities.”

“With a minimum investment of $500, we are opening up the real estate market to all investors,” Thrasher said. “Plus, it’s a great way to build community support for a project. Real estate projects can have such a profound impact on a neighborhood, so it’s important that local people have the opportunity to get involved.”

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

Caroline Wilbert
(404) 748-1250

Multifamily Lending Up 33 Percent in 2012 to $146 billion, Mortgage Bankers Association Reports


WASHINGTON, D.C. (Oct. 10, 2013) — In 2012, 2,803 different multifamily lenders provided a total of $146.1 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA). 

Jamie Woodwell

The 2012 dollar volume represents a 33 percent increase from 2011 levels.  Sixty-seven percent of the active lenders made five or fewer multifamily loans over the course of the year.

The MBA report is based on its surveys of the larger multifamily lenders and the recently released Home Mortgage Disclosure Act (HMDA) data that covers multifamily loans made by many smaller lenders, particularly commercial banks.

The $146 billion of multifamily mortgages originated in 2012 went to a variety of investors. 

By dollar volume, the greatest share (40 percent of the total) went to the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

  In terms of number of loans, the greatest share (80 percent) went to commercial bank, thrift and credit union portfolios.

The top five multifamily lenders in 2012 by dollar volume were JPMorgan Chase Bank N.A., Wells Fargo, CBRE Capital Markets, Inc., Walker & Dunlop, and Berkadia.

”In many ways we were in a golden age of multifamily finance in 2012, that to a large extent continues today,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Finance. 

“Low interest rates, strong property fundamentals and increasing multifamily property prices are all supporting a very favorable lending environment.  The 33 percent increase in lending volume in 2012 brought levels nearly back to where they had been in 2007.”

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

Shawn Ryan

(202) 557-2727

CFPB Director Cordray and FHFA Acting Director DeMarco Headline 2nd General Session at MBA's 100th Annual Convention & Expo in Washington, DC

Walter E. Washington Convention Center, 801 Mt. Vernon Place NW, Washington, DC

Richard Cordray
WASHINGTON, DC -- WHAT: Mortgage Bankers Association's (MBA) 100th Annual Convention & Expo: 100 Years Strong.

MBA's Annual Convention and Expo is the premier conference for professionals in all sectors of the mortgage banking industry.

 The convention addresses key industry-related strategic issues and provides in-depth analysis concerning leadership, growth strategies and trends. Garner insight from influential industry executives as they share their views on the current market, and their projections for the future of real estate finance.

Edward J. DeMarco
Second General Session
CFPB and FHFA Update

The CFPB issued several new regulations reforming the mortgage market in January 2013. Many of the new rules were directed by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.

The rules cover the various stages of a consumer’s mortgage experience, from shopping for a loan to paying it off. Most of the CFPB’s new rules go into effect in January 2014.  Join CFPB Director Cordray for the latest update on what’s taking place at these agencies and the implications for your business going forward. 

President George W. Bush
Immediately following we will be joined by Acting Director DeMarco for a progress report and update from the FHFA.

Confirmed speakers will include:
• The Honorable Richard Cordray, Director, Consumer Financial Protection Bureau
• The Honorable Edward J. DeMarco, Acting Director, Federal Housing Finance Agency

Monday, October 28, 2013
10:45 a.m.-11:30 a.m. EDT

Walter E. Washington Convention Center
801 Mt. Vernon Place NW
Washington, DC 20001

Former Florida Gov. Jeb Bush
All press credentials must be obtained in advance.  To apply for press credentials, working members of
the press should contact Rob Van Raaphorst at or 202-557-2799.

Unless otherwise noted, all convention events are open to the media with the exception of MBA committee meetings, correspondent meetings and board meetings.

NOTE: Tuesday’s General Session with former President George W. Bush and former Florida Governor Jeb Bush is closed to the media, per the speakers’ contracts. 

Members of the press are responsible for their own housing arrangements. For the latest schedule of events and hotel accommodations, please visit MBA's 100th Annual Convention and Expo's website.

For a complete copy of the company’s news release, please contact:
Mortgage Bankers Association
1919 M Street, NW, 5th Floor
Washington, DC 20036
(800) 793-6222

Median Home Prices Trending Downward as Moderation Sets into Market, According to ZipRealty


EMERYVILLE, CA, Oct. 10, 2013 – ZipRealty, Inc. ( (NASDAQ: ZIPR), the nation’s most prominent online technology-powered residential real estate brokerage firm and real estate marketing solutions provider, has released its new Housing Trends Report that shows home prices are moderating nationwide.

Lanny Baker
“The fall’s cooler temps are being matched by a cooling off in the housing market’s red-hot trends, according to Lanny Baker, CEO and President of ZipRealty.

“For the month ended Sept. 15, median homes sale prices in the 24 metropolitan areas surveyed were up 14% year-over-year, compared to a nearly 16% gain one month earlier.

“Median sale prices were higher than a year ago in all cities studied, but the year to year median price increases shrank in 19 out of 24 markets. The median sale price of about $272,000 in mid-September was also about 2% lower than in mid-August 2013.”

“Further moderation in trends was evident in sold-to-list price ratios, new listings volume, pending sales volume, and days on market data for mid-September,” continued Mr. Baker.

“The median number of days on market inched up from 28 in mid-August to 30 in mid-September, though houses are still selling faster this year than last year in every city except Phoenix.”

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

Stacey Corso

HSA Commercial and Great Point Investors to Develop 220,000 SF Spec Industrial Project near Indianapolis

Rendering of planned spec 220,000-SF warehouse building in Plainfield, IN

Jack Shaffer
CHICAGO, IL and  INDIANAPOLIS (Oct. 10, 2013) - Jack Shaffer, chairman and founder of HSA Commercial, Inc., announced today that the firm has again partnered with Boston-based Great Point Investors LLC to launch HSA’s third speculative industrial development this year.

The partnership expects to break ground this month on a new 220,000-square-foot warehouse building near Columbia Road and Ronald Reagan Parkway in Plainfield, Ind.

Robert Smietana
 Located on 13 acres immediately southwest of the Indianapolis International Airport, the new industrial building at Gateway Business Park will feature 32’ clear heights, 24 truck docks, 4 drive-in doors, 155 parking spaces and quick access to Interstate 70 with convenient connectivity to the rest of the regional interstate system.

 “There has been a lot of positive leasing activity with third-party logistics tenants in Indianapolis throughout the past couple years particularly in the Plainfield submarket,” said Robert Smietana, vice chairman and CEO of HSA Commercial.

Steve Roth
“With the supply of first-class industrial product running out and e-commerce fueling new demand for high-cube distribution centers, HSA and Great Point saw this as the perfect opportunity to start building again in Indy.”

 HSA recently reported that the firm partnered with Great Point Investors to build a 218,500-square-foot spec industrial facility at 2431 Delany Road in Waukegan, Ill. Delivery for that project is scheduled to occur in Q4 2013.

Michael Caprile
 Michael Caprile, vice chairman, and Steve Roth, executive vice president, of CBRE secured Great Point Investors for the joint venture with HSA at both Waukegan and Plainfield.

Chicago-based The PrivateBank is providing construction financing for the Gateway Business Park spec development. Fishers, Ind.-based Meyer Najem will serve as the project’s general contractor, and JRA Architects is responsible for the project design.

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

Mark Thomton


Cortland Partners Has Huge Q3 with Eight Acquisitions and Plans for a New Regional Office in Dallas, TX

Reserve at Deerwood apartments, Jacksonville, FL

ATLANTA, GA (Oct. 10, 2013) — Cortland Partners continued its strategic growth trajectory in third-quarter 2013 with eight acquisitions and the announcement of a new regional office in Dallas.

Nick Wilhelmson
Cortland Partners’ regional Community Support Center will open on Nov. 1 in Dallas, Texas.

Nick Wilhelmson, Cortland’s Director of Investments for Texas, is leading the Texas team, which includes 12 initial associates working in marketing and  training as well as construction and asset management. This office will be the hub for operations and investments for the entire region, which currently includes 12 communities.

 Further, Cortland expanded its portfolio during the third quarter by acquiring, in separate transactions, eight communities totaling 2,889 apartment homes.

Steven DeFrancis
Cortland closed the nearly $300 million in acquisitions in conjunction with a variety of lenders, including Freddie Mac, Regions Bank and Blackstone Mortgage Trust. With these investments, Cortland’s owned portfolio has grown to include more than 16,000 apartment homes.

 “The past three years have been an incredibly dynamic time for our firm,” said Steven DeFrancis, CEO of Cortland Partners.

“We have developed alliances with major institutions, deployed capital in our targeted markets on opportunities that are achieving the risk-adjusted returns we target for our investors, and have opened a regional office in Dallas.

Preserve at Deer Park apartments, Tampa, FL
“We are excited about continuing to work with our strategic partners as we continue to execute the business plan we began to implement in late 2009.”

 In the transactions, Cortland purchased the 226-unit Reserve at Deerwood in Jacksonville, Fla., the 448-unit Preserve at Deer Park in Tampa, Fla., the 444-unit Legacy at Fort Clarke in Gainesville, Fla., the 468-unit Ashley Mill in Marietta, Ga., the 304-unit Bristol Oaks in Dallas, Texas, the 240-unit Avington Park at Fossil Creek in Fort Worth, Texas, the 447-unit Audubon Village in Tampa, Fla., and the 312-unit Vizcaya in Houston, Texas.

Legacy at Fort Clarke apartments
Gainesville, FL
“We are pleased about the pace at which we have been able to deploy capital into investments that meet our return objectives,” DeFrancis said.

“We target growth in markets with strong job growth, a growing population, and sensible levels of new construction relative to job growth that we believe are creating an environment where our new apartment communities will thrive and continue to increase in value.”

 Initially formed to operate as an apartment developer, the firm began aggressively acquiring properties three years ago, after the Great Recession slammed the brakes on new multifamily construction.

Ashley Mill apartments, Marietta, GA
Relying heavily on its development DNA, Cortland seeks out communities within its targeted markets that are in areas with a limited supply of undeveloped land and that represent opportunities for the company to add value.

Through strategic upgrades and renovations to the building exteriors, unit interiors and amenities, Cortland is able to realize a finished product that is comparable to the new supply in the market, but at a discount to replacement cost. This formula helps Cortland create outsized risk-adjusted returns for its investors.

Bristol Oaks Apartments, Dallas, TX
Since 2010, the firm has used this formula to acquire close to 50 communities across the company’s footprint. In 2013, Cortland Partners has acquired more than 6,500 units, costing nearly $700 million.

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

Tony Wilbert
The Wilbert Group
404-254-1487 (O) 404-405-3656 (C)

IPA Arranges Sale of a 146-Unit Multifamily Property in San Antonio, TX

The Meridian, 680 East Basse Road, San Antonio, TX

Will Balthrope
SAN ANTONIO, TX, Oct. 10, 2013 – Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap serving the needs of institutional and major private investors, has arranged the sale of The Meridian, a 146-unit luxury apartment community in San Antonio. The terms of the sale were not released.

            IPA executive director Will Balthrope and IPA director Scott Lamontagne advised the seller, a San Antonio-based private investor. The buyer is a national acquisitions and management firm, also based in San Antonio. 

“The Meridian is a distinctive asset in a core submarket with high barriers-to-entry due to the scarcity of raw land,” says Balthrope. “The property’s location has outstanding demographics, an excellent school system and high-end retail.”

Scott Lamontagne
“This acquisition provides the new owner with a well-defined value-add opportunity as the existing finishes are from 1996,” adds Lamontagne.

The property is located at 680 East Basse Road in San Antonio adjacent to the Golf Digest magazine-acclaimed Quarry Golf Club and is within walking distance of Alamo Quarry Market, a 580,000-square-foot open-air center that is home to some of San Antonio’s finest restaurants and retail offerings.

The location is also proximate to some of San Antonio’s most expensive office developments, including The Concord and One International Center, and provides quick and convenient access to Highway 281, San Antonio’s main north-south thoroughfare, and Loop 410, San Antonio’s inner loop.

Quarry Golf Club, San Antonio, TX

Built in 1996 on approximately five acres, The Meridian’s community amenities include access gates, golf course views, a swimming pool, clubhouse, 24-hour fitness rooms, a business center and movie rentals. 

Apartment homes feature private alarms, crown molding, wall-to-wall carpeting, mini blinds, garden tubs, icemakers, double ovens, walk-in closets and high-speed Internet.

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

Gina Relva
Public Relations Manager
(925) 953-1716

$24.6 Million Shopping Center in Wilmington, NC Trades Hands

The Forum, 1125 Military Cutoff Road, Wilmington, NC

WILMINGTON, N.C., Oct. 10, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of The Forum, a 105,000-square-foot boutique retail center located on 13.6 acres in Wilmington, N.C.

Lori Schneider
The $24,680,000 sales price equates to $233 per square foot. 

Lori Schneider, senior vice president investments in Marcus & Millichap’s Fort Lauderdale office, represented the seller, the developer of the property, Swain & Associates. Schneider also secured the buyer, L&B Realty Advisors LLP, a Texas-based pension fund advisor. 

            “The property drew a national audience and ultimately, the right institutional buyer,” says Schneider. “Many institutional investors target just the top five to 20 markets, but in this case prospective buyers recognized the strengths of the Wilmington submarket, which include its stable economy, the presence of the University of North Carolina and popularity with tourists.”

Since 1978, Swain & Associates has developed more than 120 projects comprising more than three million square feet of retail space throughout the Carolinas. The firm will continue to maintain its offices at The Forum and handle leasing responsibilities.

Mayfaire Town Center
Located on 14 acres at 1125 Military Cutoff Road in Wilmington, N.C., The Forum is across from Mayfaire Town Center, a 570,000-square-foot grocery-anchored, big-box lifestyle center.

The Forum is a landmark property that provides retail and services for an affluent neighborhood with an average annual household income of $115,000.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Sale of Energy Corridor office buildings in Houston, TX closed by HFF

1250 Wood Branch and 11931 Wickchester, Houston, TX

HOUSTON, TX – HFF announced today that it has closed the sale of 1250 Wood Branch and 11931 Wickchester, two office buildings totaling 165,146 square feet in Houston’s Energy Corridor.

Martin Hogan
HFF marketed the properties on behalf of the seller, Peloton Capital Partners.  Dornin Investment Group purchased the assets for an undisclosed amount. The buildings were purchased on an off-market basis.

1250 Wood Branch has 102,880 square feet that is 88.9 percent leased, and 11931 Wickchester has 62,002 square feet and is 76.6 percent occupied.  The properties are located just north of Interstate 10 and west of Kirkwood in the Energy Corridor submarket in close proximity to Shell’s North American Headquarters.

The HFF team representing the seller was led by director Martin Hogan and senior managing director Dan Miller.

Dan Miller
               “Houston’s Energy Corridor has historically been one of the strongest and most stable office submarkets in the nation due to its base of energy companies as well as firms that provide services to the energy industry,” said Hogan.

 ”There is a lot of leasing activity in the Energy Corridor and the buyer was excited about the opportunity to acquire vacancy in this strong submarket.”

               Peloton Commercial Real Estate was formed in 2002 and today has a portfolio of more than 19 million square feet of leased and/or managed properties in Texas.

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

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

Concrete Foundations Association (CFA) Elects New Board Members

Mt. Vernon, IA -- The Concrete Foundations Association (CFA) – a North American association serving as the voice and recognized authority for the residential concrete industry – announces the arrival of two new members to the Board of Directors.

During the CFA Annual Convention, held this summer at the Hyatt Tamaya in Santa Ana Pueblo, New Mexico, members in attendance elected two new members to the Board of Directors from the slate of candidates offered.

  Doug Doggett, CEO of Doggett Concrete Construction in Charlotte, North Carolina and Kirby Justesen of SCW Footings & Foundations, Inc. in Salt Lake City, Utah joined the board for three-year terms. 

Additional members will be placed by the Board to terms from at large invitation during their Fall Board meeting in Phoenix, Arizona later this month.

Doggett begins his first term on the CFA Board.  His company is dedicated to the residential industry in North Carolina and also specializes in high-rise and multi-family commercial work. 

They promote cross-training in their crews between commercial and residential work to benefit their customers.  He brings new energy and focus to the Board for the next stage of enhancing the mission and vision identified this past April.

Kirby Justesen
Justesen returns to the CFA Board after last serving in 2001.  He has led the CFA as chair of the technical committee for many years and has been a voting member of ACI 332 through the critical development stages of the initial standard document. 

Kirby has a strong focus on complicated residential foundation construction given the high-seismic region in which his companies operate. 

Formerly president of Formco Foundations, he now serves as sales and project manager for this new partnership established in 2011.  His return to the Board brings a strong focus to CFA direction for West Coast and Mountain regions.

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

Jim Baty at 319-895-6940

NAI Realvest Negotiates Two New Lease renewals totaling 3,916 Square Feet at Crystal Center in Lake Mary, FL

Crystal Center, 3300 West Lake Mary Boulevard, Lake Mary, FL

ORLANDO, FL– NAI Realvest recently negotiated two lease renewal agreements for Class B medical office space totaling 3,916 square feet at the Crystal Center, 3300 West Lake Mary Blvd. in Lake Mary.

Mary Frances West
 Senior Broker-Associate Mary Frances West, CCIM negotiated both transactions representing the landlord, Maya Associates LLC of Okemos, Mich.

 Dr. A. Gupta M.D., P.A. renewed the lease of Suite 220 with 2,026 square feet and

Dr. B. Rai Gupta, M.D., P.A. renewed the lease of Suite 230 with 1,890 square feet.  

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

Beth Payan, Larry Vershel Communications 407-644-4142

NAI Realvest Negotiates Retail Lease to Home Décor in Longwood, FL and to Halloween Store in former Toys-R-Us at Eagle Ridge Mall in Lake Wales, FL

Eagle Ridge Mall, Lake Wales, FL

Paul Partyka
ORLANDO, FL – NAI Realvest recently negotiated a two lease agreements totaling 31,575 square feet of retail space in Longwood and in Eagle Ridge Mall in Lake Wales

 NAI Realvest managing partner Paul P. Partyka negotiated a lease renewal with Pastiche Home Décor LLC for 950 square feet at 840 E. SR 434 representing the landlord Gerald Korman of Longwood.

Juan Jiminez
 At 451 Eagle Ridge Mall in Lake Wales, Partyka and associate Juan Jimenez negotiated a lease of the former Toys-R-Us building with 30,625 square feet of retail space, representing the landlord Dallas-based Tabani Group, Inc. 

Spirit of Halloween Superstores, LLC of Egg Harbor, N.J. is the new tenant. 

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

Beth Payan, Larry Vershel Communications 407-644-4142