Friday, August 22, 2014

Marcus & Millichap Arranges Sale of the Landmark and Silver Leaf East Multifamily Portfolio in Tallahassee, FL for $6.475 Million

Landmark and Silver Leaf  East Multifamily Portfolio
Tallahassee, FL
TALLAHASSEE, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Landmark and Silver Leaf East Portfolio, a 195-unit multifamily portfolio located in Tallahassee, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $6,475,000.

Michael Regan and Francesco Carriera, vice president investments in Marcus & Millichap’s Tampa office, represented both parties in the transaction. 

The Landmark and Silver Leaf East Portfolio is located at 2125 Jackson Bluff Road in Tallahassee, Fla. 

Michael P. Regan
Landmark Apartments is a 129-unit multifamily community comprised of 15, two-story residential buildings, a one story, stand-alone building that serves as a leasing office and an additional one-story building that serves as a laundry facility.

Silver Leaf East Apartments is a 66-unit multifamily community comprised of eight, two-story residential buildings and a one story, stand-alone building that serves as a leasing office and laundry facility.

“The buyer just acquired a multifamily asset in Tallahassee in 2013 and saw this as an opportunity to acquire two additional stabilized assets with a 95 percent plus occupancy with potential upside through continued capital improvements and the below-market rents,” says Regan. 

 “Home of Florida’s State Capital and more than nine post-secondary institutions, including FSU, Tallahassee provides economic stability for the investor.”

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

Richard D. Matricaria
Vice President/Regional Manager, Tampa

(813) 387-4700

PKF Consulting USA Reports Caribbean Hotels Steadily Improving

Scott Smith

 ATLANTA, GA — PKF Consulting USA (PKFC), announced today that the average Caribbean hotel enjoyed an 18.6 percent increase in net operating income (NOI) during 2013, according to its newly released 2014 edition of Caribbean Trends® in the Hotel Industry. 

This is the third year in a row that Caribbean hotels have experienced a double-digit increase in NOI and the highest annual growth in profits achieved since 2008.

“Caribbean hotels have unique operating challenges that result in relatively higher expenses,” said Scott Smith MAI, vice president in the Atlanta office of PKF Consulting, USA.

  “Fortunately, recent increases in visitation to the region have resulted in top-line revenue growth that has overcome the high costs and resulted in strong growth in bottom-line profits.”

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

Patrick Daly
Account Supervisor
Daly Gray, Inc.
Office:  (703) 435-6293
Cell:  (703) 300-8289

HC Real Estate Capital Arranges $16.8 Million in Financing for Medical Office Building In Boca Raton, FL

Medical Office Building, 1905 Clint Moore Road
Boca Raton, FL
Boca Raton, FL – Kurt Hoffmann and Chris Caveglia of HC Real Estate Capital have arranged $16,800,000 of financing for a multi-tenant medical building located at 1905 Clint Moore Road Boca Raton, FL. 

HC Real Estate Capital worked with the borrower to secure 10 year financing through a correspondent Life Insurance Company relationship.

Built in 1996, the 1905 building is a 101,381 square foot medical building that is currently 95% leased to a roster of local and regional tenants.   The property is located just west of Military Trail and Clint Moore Road in Boca Raton, FL.

Kurt Hoffmann, Principal at HC Real Estate Capital states, “The 1905 building has an excellent history of high occupancy in the Boca Raton medical office market.”  Hoffmann went on to say, “The borrower was able to replace an existing CMBS loan with a low-rate Life Company Loan.”

HC Real Estate Capital, LLC is a privately owned mortgage-banking firm founded by Kurt Hoffmann and Chris Caveglia. 

  Based in Delray Beach, Florida, HC Real Estate Capital arranges permanent commercial and multifamily real estate loans.  The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors and commercial banks.

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

Chris Caveglia
HC Real Estate Capital, LLC
660 Linton Blvd. Ste 200 EX5
Delray Beach, FL 33444
Direct: 561-266-3273
Mobile: 561-376-3176

Hold-Thyssen Negotiates new lease for Jewelry Import-Export firm at Tri-County Business Park in Tampa, FL

Theresa Margaris
 TAMPA, FL --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park, with offices in Tampa, recently negotiated a new long-term lease agreement for 2,000 square feet of office space at 14240 Carlson Circle in Tampa’s Tri-County Business Park.  

 Richard J. Fisher, vice president / investor services in Hold-Thyssen’s Tampa office, said Transaction Specialist Theresa Margaris negotiated the transaction representing the tenant.

 Margaris said the new tenant, MSMYR Enterprises, LLC d/b/a Capri Williams, is a well-established jewelry importer/exporter specializing in wholesale distribution throughout the U.S.  The pending sale of their existing location was the catalyst for seeking new space in their current market area.

 Hold-Thyssen, Inc. provides commercial property and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States.

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

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


Top Lake County Luxury Broker Joins Stirling Sotheby’s International Realty

Janice Clary
ORLANDO, FL --- Stirling Sotheby’s International Realty recently announced that leading Lake County Broker Janice Clary has teamed up with the firm’s Heathrow Real Estate Sales Gallery on International Parkway in Lake Mary as an International Luxury Homes Specialist.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Clary has 24 years of experience and specializes in representing Lake County waterfront and unique properties.

Clary’s career has been focused on the marketing of premier luxury property, waterfront property, equestrian property, country estates, distinctive bed and breakfast inns and similar luxury and upper-tier properties in the Lake, Seminole and Orange County areas, he said.

Soderstrom said Clary has been a member of the Institute of Luxury Home Marketing’s Million Dollar Guild since 2008 and is ranked as one of the top agents in the state of Florida. She is a member of the National Association of Realtors and the Lake County and Orange County Associations of Realtors.

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

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