Thursday, September 18, 2014

New Luxury Condominium Residences Now Under Construction On Hillsboro Mile in Hillsboro Beach, FL

Caprice Weber
 HILLSBORO BEACH, FL – Construction of 1200 The Ocean, the only new oceanfront condominium residences on prestigious Hillsboro Mile, is now underway.

The limited collection of 18 luxurious condominium homes and penthouse residences is nestled on one of the last available, direct-ocean and private stretches of beach in Broward County.

 1200 The Ocean is also the only new construction to take place along prestigious Hillsboro Mile in more than a decade.

1200 The Ocean condominiums, Hillsboro Beach, FL
Priced from the $900s to over $2 million, the “boutique” condominium residences feature sleek, contemporary architecture and offer three bedrooms, two-and-one-half baths and up to nearly 3,000 square feet of living space and terraces.

Each residence offers private or semi-private elevator access, volume ceilings, lavish baths, 24” x 24” tile flooring, gourmet kitchens with Sub-Zero and Wolf appliances, European-style cabinetry and elegant quartz countertops, expansive terraces, high-impact glass doors and windows and much more. 

Amenities include an oceanfront pool, gated entry to a private beach, under-building parking and an Intracoastal Waterway day dock just steps away. Boaters can also take advantage of the neighboring marinas in Boca Raton, Deerfield Beach and Lighthouse Point.  

1200 The Ocean condominiums interior, Hillsboro Beach, FL
 “Unlike many towering skyscrapers saturating the market, 1200 The Ocean caters to buyers who desire an exclusive, tasteful residence directly on the beach,” said Caprice Weber, president of Baker Real Estate Florida, the exclusive sales agent and marketing manager for 1200 The Ocean.

“Hillsboro Mile is one of the most desirable locations in all of South Florida, uniquely situated between Boca Raton and Fort Lauderdale.”

 The sales center is across the street from the site at 1200 Hillsboro Mile on A1A, approximately one mile south of Hillsboro Boulevard; open daily noon to 5pm.

For more information,  visit or contact Caprice Weber at 954-732-8877, or the sales center, 855-203-1200.  Brokers welcome.

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

Pierson Grant Public Relations
Diana Hanford
(954) 776-1999 ext. 230

AIDS Healthcare Foundation Sells South Beach, FL Property for $4.5 Million

Steve Hyatt
FORT LAUDERDALE, FL – Berger Commercial Realty Senior Vice President Steve Hyatt recently represented the AIDS Healthcare Foundation in selling a highly sought-after South Beach retail property for $4,572,000 to Heritage Investors, LLC.

Located at 1501 Alton Road and 1509 W. Ave. in Miami Beach, just two blocks south of the popular Lincoln Road shopping area, the property includes a 7,500-square-foot retail building and a three-unit apartment building on 15,000 square-feet of land.

 The retail building has housed the Foundation's Out of the Closet thrift shop since 2011.  The thrift shop will continue to operate at its current location under a short-term lease-back agreement until relocating to a nearby storefront.

 "This property was one of the largest contiguous retail spaces available for sale in the South Beach market," said Hyatt. "With its excellent location and retail zoning, the property was in high demand with a bidding war over the purchase price."

This is the third real estate transaction that Hyatt has closed for the Foundation over the past two years. In January, he represented the Foundation in the sale of a 24,000-square-foot office building and adjoining parking lot, located at 955 S. Federal Highway in Fort Lauderdale, for $2,025,000 to Sapphire Investment Fund, LLC.

 In March 2013, Hyatt closed the Foundation's $4.925 million purchase of the Courthouse Law Plaza, located at 700 and 750 S.E. 3rd Ave in Fort Lauderdale. 

The Foundation later hired Berger Commercial Realty to manage the 52,000-square-foot office property.

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

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Chatham Lodging Trust Announces Multiple Hotel Investments

Hyatt Place Denver/Cherry Creek Hotel, Denver, CO
PALM BEACH, FL,  Sept. 18, 2014—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that it has acquired the recently re-opened 194-room Hyatt Place Denver/Cherry Creek for $32 million, or approximately $165,000 per room.

 In addition, the company has entered into a definitive agreement to acquire, through a joint venture with NorthStar Realty Finance (“NorthStar”, NYSE: NRF), a $1.1 billion hotel portfolio (the "Portfolio") from Inland American Real Estate Trust.

Concurrently, Chatham is negotiating with NorthStar to acquire 4 hotels comprising 575 rooms out of the Portfolio prior to or in connection with the closing of the Portfolio. The Portfolio transactions are expected to close in the fourth quarter of 2014.
For a complete copy of the company’s news release, please contact:

 Patrick Daly
Account Executive
 Daly Gray, Inc.
620 Herndon Parkway
Suite 115
Herndon, VA 20170
(703) 435-6293 (office)

Orange County, CA Industrial Park Sold by Marcus & Millichap

Michael Lawrence
ANAHEIM, CA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced it recently arranged the sale of Blue Gum Industrial Park, a business park located in Anaheim, Calif.

The property sold for an undisclosed price. Michael Lawrence, senior vice president investments in Marcus & Millichap’s Newport Beach office, represented the seller, TW Investment Corp., and the buyer, TREF3 Anaheim LLC. 

            “This property is located in one of Southern California’s tightest rental markets,” says Lawrence. “The owner should enjoy substantial long-term rent increases and a stable occupancy.”

Blue Gum Industrial Park is a high-quality central Orange County business park located at 1311-1347 North Blue Gum St. at the intersection of East Miraloma Avenue and North Blue Gum Street.

The property consists of seven buildings situated on over 10 acres. Built in 1974 of concrete tilt-up construction, the industrial park boasts ample parking, ground-level loading and attractively fenced yard areas.

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

Gina Relva
Public Relations Manager

(925) 953-1716

Five-Property Self-Storage Portfolio in Nashville, TN Sells for $33.6 Million

A+Storage Portfolio, Nashville, TN
NASHVILLE, TN– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of a portion of the A+ Storage Portfolio in Nashville, Tenn. 

A+ Storage sold five of its 12 Class A properties, including 2,800 units with 346,264-rentable-square feet in the greater Nashville area. 

The $33,600,000 sales price equates to $97 per square foot.  The sale did not include A+’s flagship facility and corporate headquarters in the Gulch area of downtown Nashville. 

Michael A. Meli
            Michael Mele, senior vice president investments in Marcus & Millichap’s Tampa office, and Anne Williams, senior associate in the firm’s Memphis office, represented the seller, Tommy Pierce, and the buyer, Kurt O’Brien.  The properties will be managed by Simply Self Storage.

            “This was the first time in the last eight years that a self-storage investment opportunity of this size and quality had been available in middle Tennessee,” says Mele.

“The portfolio was strategically aggregated by a private Nashville owner and operator who developed, managed and expanded the majority of the facilities during the recession.  This is a testament to the strength of the self-storage business and the portfolio’s viability and growth potential.”

“The A+ Storage portfolio is an outstanding blend of stabilized assets with strong cash-flow and expansion opportunities in solid growth submarkets of the greater Nashville area,” adds Williams.

“The stars were lined up for this one,” says Pierce. “Interest rates remained low, the self-storage industry fared the recession well, and Nashville became one of the top 10 business and real estate markets in the country.  The purchaser already has a national presence, and this acquisition allows them to establish a strong presence in Nashville with one transaction. The A+ Storage team, together with the Marcus & Millichap team, did a terrific job navigating the transaction to a successful closing,” concludes Pierce.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Grocery-Anchored Shopping Center in Littleton, CO Sells for $12.35 Million

Jon Hendrickson
LITTLETON, CO – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Kipling Marketplace, a 90,124-square-foot, grocery-anchored shopping center located 15 miles southwest of downtown Denver in Littleton, Colo.

The $12,350,000 sales price equates to $137 per square foot.

            Jon Hendrickson, vice president investments in Marcus & Millichap’s Denver office, represented the seller, an-out-of-state pension fund advisor, and the buyer, Phillips Edison and Co.

            “Kipling Marketplace is an established, Safeway-anchored shopping center with value-add characteristics,” says Hendrickson. “The property is a true neighborhood shopping center, has strong surrounding demographics, and is located at a vibrant intersection that will continue to make the property a viable shopping center for many years to come.”

Kipling Marketplace, Littleton, CO
The center is located at the northwest corner of South Kipling Parkway and West Belleview Avenue at 5005 South Kipling St. in Littleton. Average household income within a one-mile radius is $92,500 and 15,500 people live within a mile of the property.

Built in 1983 on almost 11 acres and substantially renovated in 2009, Kipling Marketplace features three multi-tenant buildings, the Safeway and a Safeway fuel pad site. At the time of the sale, the property was 94 percent leased to 18 tenants.

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

Gina Relva
Public Relations Manager
(925) 953-1716

Arbor Expands Seniors Housing & Healthcare Financing Platform with Appointment of Two Industry Veterans

Jeffrey Ringwald
UNIONDALE, NY, Sept. 18, 2014) - Arbor Commercial Mortgage, LLC (“Arbor”) today announced the expansion of its Seniors Housing and Healthcare financing platform with the addition of two industry veterans, Jeffrey Ringwald, Senior Vice President, Seniors Housing & Healthcare; and William Jackson, Vice President, Seniors Housing & Healthcare.

Located in Arbor’s Dallas, TX, office, Mr. Jackson will report directly to Mr. Ringwald and Mr. Ringwald will report directly to Arbor’s Chief Operating Officer, John Caulfield.

“Arbor is pleased to add two veteran seniors housing and healthcare finance executives to its growing Seniors Housing and Healthcare group,” Caulfield said.

 “The expertise and industry relationships both Jeff and Bill have developed throughout their careers will now receive Arbor’s uniquely personalized and customized and flexible approach to financing, backed by our strong foundation as an FHA LEAN Lender.”

Both Mr. Ringwald and Mr. Jackson are responsible for leading the origination effort and strategic direction of the Seniors Housing and Healthcare platform.

William Jackson
This nationwide focus caters to owners and operators of independent living, assisted living, memory care, skilled nursing facilities and CCRCs and delivers the debt financing solution best suited for their specific investments using Arbor’s broad range of financing products.

Mr. Ringwald has focused on seniors housing and healthcare finance for his entire 16-year career, originating more than $2 billion in seniors housing loans across the country.

 His expertise includes permanent loan solutions utilizing FHA/HUD, Fannie Mae DUS®, Freddie Mac Program Plus and Life Companies as well as the structuring of bridge and construction loans for clients. Before joining Arbor, Mr. Ringwald served as a Senior Vice President at Oak Grove Capital in the Seniors Housing Group. 

Prior to Oak Grove Capital, Mr. Ringwald was a Managing Director in the Seniors Housing & Healthcare Group at Red Capital Group, Principal and Manager of the Healthcare Finance Group for Prudential Mortgage Capital Company and Senior Vice President for Guaranty Bank’s Seniors Housing Group, where he was responsible for loan origination, syndication, underwriting and relationship management.

John Caulfield
Mr. Ringwald earned a Bachelor of Business Administration degree with a concentration in finance and minor in biology from Southern Methodist University.

Mr. Jackson has more than 16 years of financing experience, including 10 years in healthcare financing.  Before joining Arbor, Mr. Jackson served as a Vice President for Oak Grove Capital where he was responsible for the sourcing, underwriting, credit approval and closing of seniors housing and multifamily debt using FHA, Fannie Mae and Freddie Mac finance products. 
Prior to his time at Oak Grove Capital, Mr. Jackson spent several years managing a portfolio of distressed CMBS financings at C-III Asset Management, LLC. 

  In 2006, Mr. Jackson was recruited to launch a dedicated healthcare team at Prudential Mortgage Company, where he co-developed and helped implement a business plan for the initiation of a dedicated national healthcare originations team.  He also assisted in the sourcing, underwriting, credit approval and closing of loans.

Mr. Jackson earned a Master of Business Administration degree from Southern Methodist University and a Bachelor’s degree in aerospace engineering from the University of Texas.

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

Christopher Ostrowski

Marcus & Millichap Promotes Michael Mele to Senior Vice President Investments

Michael A. Meli
TAMPA, FL – Marcus & Millichap Real Estate Investment Services (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has named Michael Mele a senior vice president investments in the Tampa office, according to Richard Matricaria, vice president and regional manager.

Most recently, Mele held the position of first vice president investments.

Mele joined Marcus & Millichap in 1999 as an agent specializing in the self-storage property sector, and rose to senior associate in May 2002, vice president investments in January 2008 and senior vice president investments in 2014.

Mele has closed more than 200 self-storage transactions totaling over $800 million, and has achieved senior director status in the company’s National Self-Storage Group.

            “Mike has been a top self-storage investment specialist for well over a decade, and a huge contributor to the success of the Tampa office,” said Matricaria. “With his in-depth knowledge of the self-storage investment sector, dedication to providing superb client service and strong leadership abilities, Mike truly deserves this honor.”

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

Gina Relva
Public Relations Manager
(925) 953-1716

New Tenants Moving to Wells Fargo Center in Downtown Miami

Brian Gale
Miami, FL — Taylor & Mathis has executed four new leases at MetLife’s Wells Fargo Center in downtown Miami two of which were new to market tenants. 

The 47-story tower will soon be home to Dentmall of Florida, Moto Capital, Berkadia Commercial Mortgage and La Prairie Group.  The firms have leased 13,402 square feet at the building. 

Earlier this year, PwC moved its office from Brickell Avenue and leased 43,277 square feet at the downtown tower. 

Brian Gale, Principal and Ryan Holtzman and Andrew Trench, both Leasing Directors with Taylor Mathis, negotiated the leases on behalf of MetLife. 

 According to Taylor & Mathis Principal Brian Gale, “We are seeing more new to market tenants today than I’ve seen in the 22 years I’ve been leasing space in downtown Miami.”

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

Brian Gale
Taylor & Mathis
(305) 476-8880

McCraney Property Company Leases More Than 80,000 Square Feet in South and Central Florida in Recent Months

Steven E. McCraney
WEST PALM BEACH, FL and ORLANDO, FL – McCraney Property Company’s (MPC) leasing agents and brokers have had continued success in 2014, completing more than 80,000 square feet of leases at its properties, with approximately 52,000 square feet under negotiations in West Palm Beach and approximately 144,000 square feet in Orlando.

Notable leases included:

·         MagicJack LP, a manufacturer of portable gadgets that provide consumers with free local and long distance calling from anywhere in the world, signed a new lease for 10,580 square feet in Vista Business Park Lot-17B in West Palm Beach.

·         PS Flooring, Inc., a company that provides top flooring products, expanded its lease to 7,225 square feet in Belvedere Business Park in West Palm Beach.

·         Lifetouch National School Studios, Inc., the world's largest employee-owned photography company, renewed two leases with MPC including 4,950 square feet in Vista Business Park- Lot 18 and 4,235 square feet in Treasure Coast Commerce Center in Stuart.
 ·         CMH Solutions, Inc., which serves the South Florida HVAC marketplace, renewed its lease for 3,936 square feet in Vista Business Park- Lot 17A.

Vista Business Park, West Palm Beach, FL
·         Efurniture Brands, LLC, an e-commerce-based furniture distributor, signed a new lease for 14,768 square feet in John Young Business Park in Orlando.

Other leases included Classic Promotions & Premiums, Inc., King Mayoreo, All Purpose Construction, LLC and Continuecare Home Health, LLC.

 “We are excited about the improving market fundamentals, which have translated into increased leasing activity at our current projects with new developments totaling 1.2 million square feet in the South and Central Florida markets this year,” said Steven E. McCraney, SIOR, CCIM, President and CEO of McCraney Property Company.

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

Boardroom Communications
Ashley Fierman /

(954) 370-8999

Rhodes+Brito Architects Recently Completed Design of Two Elementary Schools in Apopka, FL; Construction Under Way

Ruffin Rhodes
ORLANDO, FL --- Two elementary schools designed by Rhodes+Brito Architects are now under construction in the Apopka area.

Ruffin Rhodes, co-founder and partner at Rhodes+Brito, said Clay Springs Elementary School will be completed by November of 2015 and Lovell Elementary School will be completed by August of 2015.

Construction cost for Clay Springs Elementary School is $13.3 million and for Lovell Elementary it is $11.4 million, according to Rhodes.

Both schools are designed for 832 student stations.

Clay Springs Elementary is located on Wekiwa Springs Road and Lovell Elementary is located on Roger Williams Road.

Rhodes+Brito, which opened in Orlando in 1996, currently employs a staff of 20, including eight registered architects. The firm has exceptional experience providing architectural services to municipal government agencies.

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

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 (fax: 4410)