Tuesday, October 29, 2013

Colliers Honors Donna Abood for Leadership, Character and Performance

Florida State University inducted Donna Abood into its School of Business Hall of Fame in 2013,
in recognition of her years of mentoring its graduates and employing them as interns.

Donna Abood
MIAMI, FL - At this year's Colliers Americas conference, which took place last month in Atlanta, Donna Abood received the highest award bestowed on an individual by the international full-service commercial real estate firm; the Tom Richardson Award. Abood is Chairman - Founding Partner of Colliers International South Florida.

The prestigious award is presented to the individual within Colliers International who best exemplifies the personal character displayed by the late Tom Richardson, former Vice Chairman of Colliers USA.

The award honors individuals who maintain a balanced perspective of business, family, friends and community, as well as impeccable integrity, a passion for sharing, and extraordinary spirit.

The award recognizes lasting personal character, not short-term performance, and its purpose is to raise the entire character of the Colliers team by acknowledging true leaders whose example helps the team strive to meet the standards of Tom Richardson.

Tom Richardson
Abood, who has leased over 50 million square feet of office buildings during her career, is a member of the Colliers US Manager's Steering Committee.

She has served on the executive committee of the Beacon Council for 12 years, and is a former chair of the Coral Gables Chamber of Commerce and the Rotary Club of Coral Gables.

 She is active with CREW-Miami (Commercial Real Estate Women), and has served on the board of the Lighthouse for the Blind, helping to raise funds for more than 20 years.

Her professionalism and community involvement are corroborated by numerous other awards and honors including Champion of Minority Businesses (Greater Miami Chamber of Commerce 2013), Top 50 Women-led Businesses (The Commonwealth Institute 2013), National Women of Influence (Real Estate Forum 2013 and 2009), and Most Influential Women (South Florida Business Journal 2012) to name the most recent. 

Florida State University inducted her into its School of Business Hall of Fame in 2013, in recognition of her years of mentoring its graduates and employing them as interns.

In response to the recognition Abood said, "I am so humbled. The people who have received this honor before me are exceptional leaders."

She went on to note that "our behavior with our clients as well as with peers is important. Giving freely of our assistance, advice and time--really stands out in clients' minds.

“Putting their needs first is exceptional service, and they do not forget it. The rewards may come your way in the form of dollars, referrals, respect, credibility, positive energy (love), and friendship... when you least expect it."

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

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138

Equity Partners Announces 20,098 RSF of New Leases and 97% Occupancy at Alafaya Corporate Center in East Orlando, FL

Alafaya Corporate Center, East Orlando, FL

Faith Thompson
ORLANDO, FL -- Equity Partners (Equity) has brokered two long-term office leases totaling more than 20,000 square feet in East Orlando in the Research Park/University Submarket.

The details on the leases are as follows:

·           Orion Technologies, LLC (recently featured in the OBJ) leased 5,956 rentable square feet, relocating from Merritt Island to the University/Research Park market in order to be closer to the type of specialties they want to bring on board.

Michael Fess

·            Community Based Care of Central Florida, Inc. represented by Chris Sproles of CBRE, leased 14,542 rentable square feet.

With these executed leases, Alafaya Corporate Center has reached 97% Occupancy. Alafaya Corporate Center is a 148,807 rentable square foot business park on Alafaya Trail and Challenger Parkway in East Orlando.

 Michael Fess and Faith Thompson of Equity Partners represented the landlord in both transactions.

Chris Sproles
“We are excited to add Orion Technologies and CBC of Central Florida to our high profile tenant mix at Alafaya Corporate Center and are happy to announce we are now 97% occupied,” said Fess.

“Located at a major traffic light with over 1,200 feet of Alafaya Trail frontage, the ownership of Alafaya Corporate Center takes pride in professional property management and tenant satisfaction.”

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

Faith Thompson
Leasing Manager
Equity Partners, Inc.
Licensed Real Estate Broker
20 North Orange Avenue
Suite 605
Orlando, Florida 32801
407.660.4949 phone
407.808.2656 cell
407.660.4995 fax

Greystone’s Chicago Production Office Posts Strong Lending Activity for Third Quarter

Lofton Place Apartments, Tampa, FL

New York, NY– Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced that the firm’s Chicago office has closed 12 transactions in the third quarter of 2013, for a total of over $30 million in volume.

Dan Rosenberg
The success builds upon Greystone’s production momentum in the Midwest for the first half of the year - which saw an outstanding 35 deals originated, including 16 in Q2 - and brings the total number of loans closed in 2013 to 47, for approximately $154 million.

 Greystone’s extensive relationship with Fannie Mae and real estate financing expertise has enabled the firm to provide borrowers with fast-closing, long-term loans at the most attractive rates available. Notable deals completed throughout Q2 and Q3 include:

$16.9 million Fannie Mae DUS® Loan for Lofton Place Apartments, a 280-unit apartment community in Tampa, Florida. Dan Rosenberg, of Cohen Financial, sourced the loan as a correspondent of Greystone.

Sujal Parikh
$7.675 million Bridge Loan for Azalea Apartments in Greenville, South Carolina, also sourced by Dan Rosenberg of Cohen Financial.

$6.06 million cash-out refinance for a 122-unit affordable housing complex in the Edgewater neighborhood on Chicago’s North Side. Joseph Schwimmer of Preferred Capital Group, a correspondent of Greystone, sourced the loan.

$3.6 million for Crestline Villa Apartments, a 144-unit property located in Alsip, Illinois. The deal provided cash-out financing, including funds to make improvements to the property. Tom Reckley, Director in Greystone’s Chicago office, closed the transaction.

Clint Darby
$3.3 million cash-out refinance, representing 100% loan-to-cost after 15 months of ownership, for a 59-unit property located in the West Rogers Park neighborhood, in Chicago, Illinois. The loan was also sourced by Joseph Schwimmer of Preferred Capital Group, as a correspondent of Greystone.

$2.468 million for 2515 W. Jerome, a 36-unit property located in the Rogers Park neighborhood on the North Side of Chicago, Illinois. The deal provided 80% acquisition financing.  Sujal Parikh, Director in Greystone’s Chicago office, closed the transaction.

Tom Reckley
“We are pleased with the Q3 production volume out of the Chicago office, especially considering the significant increase in rates that began earlier this year,” said Clint Darby, Managing Director in Greystone’s Chicago office.

“Our pipeline has been strong throughout the year.  We closed over $50 million in Q2 alone.  Rising rates impacted applications but we have seen strong activity throughout the third quarter, especially on the sale and acquisition side.” 

 Greystone is ranked as a top-10 Fannie Mae lender by volume nationally, and was the number one FHA lender for 2012. In addition to Fannie Mae and FHA products, Greystone also offers Bridge and CMBS loans. 

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

Karen Marotta
212 896 9149

Jessica Kleinman/Josh Gerth
646 395 6300

Meridian Capital Group Arranges $10.9 Million in Acquisition Financing for the Royal Properties Portfolio Located in North Miami, FL

Part of Royal Properties Portfolio, North Miami, FL

Boca Raton, FL – Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $10.9 million mortgage for the purchase of the Royal Properties Portfolio composed of five multifamily properties located in North Miami, FL on behalf of a foreign national borrower.

 The seven-year, non-recourse loan was provided by a savings bank and features a fixed-rate of 3.25%. This transaction was negotiated by Meridian Capital Group Managing Director, Michael Brown, who is located in the Company’s Boca Raton, FL office. 

 The Royal Properties Portfolio consists of five properties, totaling 233 units including: the 51-unit Royal Village located at 13055 NE Sixth Avenue; the 55-unit Royal Place located at 14050 NE Sixth Avenue; the 59-unit Royal Vista located at 400 NE 137th Street; the 44-unit Royal Point located at 1525 NE 125th Street; and the 24-unit Royal Courtyard located at 13020 NE Sixth Avenue.

“Meridian was able to secure flexible financing at a 75% loan-to-value ratio with a lower interest rate than agency lenders for a foreign national buyer,” said Mr. Brown. “The financing we negotiated saves the client more than $950,000 over the loan term as compared with the next best available option,” he added.

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

Jonathan M. Stern
Managing Director
Meridian Capital Group, LLC
1 Battery Park Plaza, 26th Floor
New York, NY 10004
Direct: 212.612.0181
Fax: 212.201.5181

Construction Under Way by Consolidated Contracting Services on new QueensCare Health Centers Site in East Los Angeles, CA

Rendering of planned QueensCare Health Center, 4816 East Third Street, Los Angeles, CA

SAN CLEMENTE, CA – (Oct. 28, 2013) – Consolidated Contracting Services, Inc., a leading Southern California commercial builder, has construction under way for a new 24,000-square-foot QueensCare Health Centers (QHC) facility in East Los Angeles, located at 4816 E. 3rd Street, Los Angeles, Calif. 90022.

Barbara B. Hines
The two-story, structural-steel building will encompass 38 medical exam rooms, nine dental operatories for adult and pediatric dentistry, three counseling rooms and two meeting rooms.

 It will also contain a 1,000-square-foot conference room that will serve as a venue for hosting health events and community meetings.  Construction is slated for completion in August 2014, and the health center will be open to serve patients in early 2015.

Situated on a one-acre lot accessed along East 3rd Street, the new health center will be serviced by the Metro Gold Line, which stops just north of the site.  The new facility will record more than 55,000 patient visits a year -- double the organization’s current capacity in East Los Angeles.

Consolidated Contracting demolished the existing church structure last month and is now working on site grading and installation of underground utilities. An official groundbreaking celebration was held on September 24th.

Joe Troya
“This is the first major capital development project in the nearly century-long history of QueensCare Health Centers’ operations,” stated Barbara B. Hines, President & CEO of QueensCare Health Centers.  “We are pleased to have Consolidated Contracting building the new center due to its experience in health center development and its team-oriented approach.”

Joe Troya, principal of Consolidated Contracting Services, is serving as project executive, with Stephen Viscioni as project superintendent, Rod Tower as project manager and James Dixon as project engineer.

RBB Architects, Inc., Los Angeles, is the project architect; KPFF Consulting Engineers, Los Angeles, is the civil engineer; N A Cohen Group, Encino, is the electrical engineer; and Applied Earth Sciences, Los Angeles, is the environmental engineer.  Carter Romanek Landscape Architects, Los Angeles, is the landscape architect.

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

Bonnie Kutch
Kutch & Company
6434 Caminito Listo | Suite B-100 | San Diego, California 92111

Morrison Commercial Real Estate Negotiates Sale of 6925 Lake Ellenor Drive in Orlando, FL for $2.625 Million

6925 Lake Ellinor Drive, Orlando, FL

ORLANDO, FL (October 29, 2013):  Morrison Commercial Real Estate, a full-service brokerage firm specializing in office and industrial in Central Florida, recently negotiated the sale of 6925 Lake Ellenor Drive located in Orlando, FL for $2,625,000.

Lisa Bailey
Lisa Bailey, Senior Vice President of Morrison Commercial Real Estate, negotiated the sale representing the Seller, Land O’Frost, headquartered in Lansing, IL.

 6925 Lake Ellenor Drive, a six-building flex property built in 1975, has a total of 109,344 square feet of office and warehouse space on 8.75 acres.

 The buyer was Max King Realty based in Orlando, FL.

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

  Sarah Holodick
Phone: 407.440.6647

Palladium Building Sold in Orlando, FL

The Palladium building, 12124 High Tech Avenue, Orlando, FL

ORLANDO, FL, Oct. 29, 2013 -- CBRE, Inc. together with Ron Rogg is pleased to announce the sale of The Palladium building, a 71,812 square foot suburban office building located at 12124 High Tech Avenue, Orlando, near the University of Central Florida and the Central Florida Research Park.

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

Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194

Opportunity Fund Proposes New Boutique Condo Project In Miami Beach

Rendering of planned Ritz Carlton Residences Miami Beach

MIAMI, FL -- As the South Florida housing market increasingly rebounds from the real estate crash of 2007, an opportunity fund with ties to New York City is proposing a new seven-story condo project less than a mile away from the planned Ritz-Carlton Residences going up in the barrier island city of Miami Beach, according to a new report from CondoVultures.com.

Daniel Lebensohn
The boutique project's developer - an entity controlled by BH3 Development with Daniel Lebensohn - plans to build 65-units on a portion of a 2.3-acre site that currently houses Talmudic University in the 4000 block of Alton Road and the Julia Tuttle Causeway in Miami Beach, according to city of Miami Beach and Miami-Dade Property Appraiser records.

The Ritz-Carlon Residences Miami Beach is slated to be developed in the 4800 block of Alton Road in Miami Beach, according to South Florida Business Journal.

In Miami Beach, a combination of domestic and international developers - in unrelated projects - are now proposing to construct at least 20 new towers with more than 1,125 condo units in the barrier island city that is comprised of the neighborhoods of South Beach, Middle Beach, and North Beach as of October 23, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

Talmudic University, Miami Beach, FL
Overall in South Florida, at least 173 new condo towers with more than 22,600 units are proposed, planned, under construction, or recently completed in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach as of October 23, 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