Wednesday, October 1, 2014

Marcus & Millichap Arranges Sale of Harvest Breeze Apartments in Pompano Beach, FL for $1.3 Million

Brandon J. Rex
POMPANO BEACH, 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 Harvest Breeze Apartments, a 14-unit apartment property located in Pompano Beach, Fla, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.

The asset sold for $1,350,000 equating to $96,429 per unit.

Harvest Breeze Apartments is situated just off South Ocean Boulevard and SE 12th Street, and just south of Atlantic Boulevard, at 3213 SE 12th Street in Pompano Beach, Fla.

Brandon J Rex, a vice president investments and Evan P. Kristol, a senior vice president of investments, in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Delray Beach, Fla. 

The buyer, a private investor from Boca Raton, Fla, was secured and represented by Felipe J. Echarte, a vice president investments, in Marcus & Millichap’s Fort Lauderdale office. 

Evan P. Kristol
“Harvest Breeze Apartments offered the rare opportunity to acquire an extremely well-located apartment building east of the Intracoastal and close to the beach.

“Tenants benefit from the tranquil, residential setting surrounding the building, made up mostly of condominiums, and single family homes, and its close proximity to Atlantic Boulevard, which is lined with retail and dining from the beach all the way to Interstate 95.” Says Rex

Harvest Breeze Apartments is a two-story building comprised of 12 one-bedroom/one-bathroom units and two two-bedroom/two-bathroom units.

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

Ryan Nee
Regional Manager
Fort Lauderdale

(954) 245-3400

Hospitality Ventures Management Group (HVMG) Names Cheryl L. Mathews Vice-President of Accounting

Cheryl L. Matthews

 ATLANTA, Ga. (Oct. 1, 2014) – Hospitality Ventures Management Group (HVMG), an Atlanta-based, privately owned hotel ownership and management company, announced that Cheryl L. Mathews has been named vice-president of accounting.

 In her new role, Mathews and her team are tasked with ensuring that each hotel owner receives accurate and timely financial statements, supporting the hotels in all of their accounting and financial needs and ensuring proper asset management systems and processes are in place, including cash management and risk management, among other accounting related responsibilities.

            “With 26 years in the hospitality industry, more than 20 of which were focused on accounting, Cheryl brings a uniquely focused skill set that will prove invaluable as we continue to grow and augment our management platform and infrastructure,” said Maria D’Alessandro, senior vice president and CFO of HVMG.

Maria D'Alessandro
“Her experience working with some of the largest owners and operators in the industry to provide timely and proactive financial services proved pivotal in those companies’ growth.  We have every expectation that she will contribute the same at HVMG.”

            Previously, Mathews held executive positions at several hotel management companies, including Interstate Hotels and Resorts, Noble Management Group, Wyndham International and Renaissance Hotels & Resorts.

 As vice-president of treasury and vice-president of accounting at Interstate, Mathews led the implementation of an e-payment system which modernized and streamlined the accounts payable payment process and an electronic balance sheet account reconciliation system for all domestic and international full service hotels. 

            Mathews has won numerous industry awards, including 2002 Manager of the Year for Wyndham Hotel-Atlanta Downtown and Marriott’s Southeast Region Award for Internal Controls for 1998. 

            “Hotel owners deserve and expect robust, timely and transparent financial reports," Mathews said.  "Helping non-financial managers understand accounting is a particular passion of mine, so I feel very confident that I can make a positive impact by working with the property-level teams as we strive toward industry-leading reporting systems for our owners.”

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

Chris Daly
Daly Gray, Inc.

Taylor & Mathis Orlando Announces Close to 9,000 SF in Lease Transactions

Darryl Hoffman
ORLANDO, FL -- Damien Madsen, Principal of Taylor & Mathis Orlando announced today the completion of close to 9,000 square feet in leases in Lake Mary and Maitland.

 Damien Madsen and Darryl Hoffman recently completed a new lease totaling 4,914 square feet in Lake Mary at Tower I at Primera for stand up MRI Firm.

 In Maitland, Madsen and Hoffman finalized a lease for a little over 4,000 square feet for Neumors at the Point 100 building.  Taylor & Mathis represented the Landlord both of these transactions.

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

Buffy Gillette
(407) 622.6699

Cushman & Wakefield’s Andy Slowik Honored by NAIOP

Andy Slowik
 ORLANDO, FL -- Cushman & Wakefield announced today that Andy Slowik has received the prestigous 2014 NAIOP Developing Leaders Award. Slowik, a Land Brokerage Services Associate in the firm's Orlando office, was one of only ten recipients of the award across North America.

The Developing Leaders Award is given to "up-and-coming professionals under the age of 35 who have distinguished themselves among their colleagues and show great promise as future industry leaders."

The award will be presented during NAIOP's Development '14: The Meeting for Commercial Real Estate, to be held October 27-29 in Denver, Colorado.

"We are very proud to have Andy recognized with such a prestigious award," said Cushman & Wakefield Senior Managing Director and Florida Market Leader Larry Richey. "He consistently demonstrates great leadership skills — especially for such a young professional — and is well respected by his peers, clients, and the Orlando business community."

Larry Richey
"These individuals are being recognized for their insight and leadership qualities that undoubtedly will help grow the industry, guiding it as it adapts to emerging trends and economic opportunities while instilling diverse and creative thinking,” said Thomas J. Bisacquino, president and CEO of NAIOP. “Their abilities, actions and accomplishments make the industry a powerful example for others to follow."

Slowik began his career with Cushman & Wakefield as an intern before joining the firm full time in 2011. 

He is an Associate on the Land Brokerage Services Team headed by Margery Johnson.

 In 2012, Slowik was named Orlando's Rookie of the Year. He is the 2014 NAIOP Developing Leaders President and a 2013 NAIOP Developing Leaders Board Member.

"I am honored to receive the award," said Slowik. "And I am proud to be associated with NAIOP and its mission."

NAIOP (formerly the National Association of Industrial and Office Properties) was founded in 1967 and has evolved into one of North America's most influential commercial real estate organizations. NAIOP provides networking opportunities, educational programs, research on trends and innovations and legislative representation.

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

Arbor Finances $128.9M in Multifamily Deals Nationwide

Joseph Charneski
UNIONDALE, NY  - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, and a national, direct commercial real estate lender, announced the recent funding of 14 loans totaling $128,872,739 under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS Dedicated Student Housing Loan, CMBS Loan and Arbor Realty Trust Loan Bridge product lines.

 All of the loans were originated by Joe Charneski, Vice President in Arbor’s New York City office.

 “Deal by deal, borrowers require a variety of different loan product types to fit their individual needs and investment strategies in today’s market, including both permanent and interim loans. Such was the case with these most recent funding transactions,” Charneski explained.

“The transactions also took place across a vast array of markets nationwide. Being able to serve your borrowers wherever their business takes them is critical for a multifamily lender that prides itself on personalized and customized service.”

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

Christopher Ostrowski

Suffolk Construction to Move to One Biscayne Tower in Downtown Miami, FL

Ryan Holtzman
Miami, FL -- Taylor & Mathis of Florida has signed Suffolk Construction to a lease at Miami’s One Biscayne Tower.  Suffolk Construction is relocating from the airport submarket and expanding their offices into nearly 15,000 square feet downtown.  

“Suffolk is excited to expand into a larger and more collaborative space in Miami. Not only are the views phenomenal, but the central location of One Biscayne Tower will allow us to better serve our clients and partners in the area,” stated Suffolk’s Vice President of Miami operations John Planz.

The Suffolk deal was negotiated by Taylor & Mathis’ Ryan Holtzman representing the owner and co-broker Lance Benson of Newmark Grubb Knight Frank representing the tenant. 

Lance Benson
One of the largest privately-held building contractors in the country, Suffolk’s Southeast Region has been headquartered in South Florida for 20 years. 

The Southeast Region office has experienced tremendous growth in the past 18 months, adding over 100 new leadership and staff positions.  It is currently managing construction of Met3, Jade Signature, Sinai Residences, and The Jewel of Sarasota.

Planz will oversee the Miami Worldcenter and the All Aboard Florida Miami Terminal.

“The leasing momentum we are seeing downtown and in particular at One Biscayne Tower is unprecedented in recent times,” according to Holtzman.  “We are thrilled to add another top notch firm to our tenant roster with even more on the way.”

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

$6.4 Million Multifamily Acquisition Loan Arranged by Marcus & Millichap Capital Corp. in Santa Monica CA

Sharone Sabar
SANTA MONICA, CA– Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $6,465,000 in financing for the purchase of a 20,612-square-foot multifamily property in Santa Monica.

Sharone Sabar, vice president capital markets in Marcus & Millichap’s Encino office, arranged financing for the loan.

            “The property is a rent-controlled multifamily asset with a low cap rate and a high GRM,” says Sabar. “Most capital sources would provide debt up to 40 percent loan to value but the borrower was looking for more than that. MMCC sourced a lender that was comfortable with pro forma rents and provided a loan-to-value of 67 percent.”

            The five-year loan amortizes over 30 years and is fixed at 4.75 percent.

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

Gina Relva
Public Relations Manager

(925) 953-1716

Marcus & Millichap Promotes Tony Cassie to Vice President Investments in Portland, OR

Tony Cassie
PORTLAND, OR – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it has promoted Tony Cassie to vice president investments, according to Justin P. White, regional manager of the Portland office.

 Most recently, Cassie held the title of associate vice president investments, specializing in seniors housing investment sales.

            “It’s an honor to recognize Tony as a vice president investments,” says White. “His outstanding performance as a brokerage professional, dedication to providing the best client service and in-depth knowledge of the seniors housing industry make Tony very well-deserving of this promotion.”

            Cassie began his career as an investment specialist with Marcus & Millichap in October 2005, and earned the firm’s Pacesetter award during his first year. In 2007, he was named regional manager of the Portland office, after consistently being named one of its top producers annually. Cassie returned to the sales force in early 2013, and was named an associate vice president investments that same July.

            During his tenure with Marcus & Millichap, Cassie has arranged more than $300 million in transactions, primarily in seniors housing investment sales in the Pacific Northwest and Mountain States.

Justin P. White
Prior to joining Marcus & Millichap, Cassie was a consultant for a Big 4 accounting and consulting firm where he worked exclusively with nursing home, hospital and health insurance clients.

 He has extensive knowledge of Medicare and Medicaid reimbursement strategies, membership/enrollment/billing, streamlining operations, strategy and management, as well as technology implementation within the healthcare and seniors housing industry.

Cassie received his bachelor’s degree in accounting from the University of Montana-Missoula.

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

Gina Relva
Public Relations Manager

(925) 953-1716

$22.5 million sale of the gateway to miami beach arranged by marcus & millichap

The Gateway to Miami Beach building
1100 5th Street, Miami Beach, FL

 MIAMI, 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 The Gateway to Miami Beach for $22,500,000, or $1,241 per square foot. 

The property consists of two net-leased buildings and is occupied by two national tenants. 

It is located on the southeast corner of 5th Street and Alton Road where the MacArthur Causeway (Interstate 395) accesses Miami Beach; this intersection, in South Beach’s South of Fifth (SOFI) neighborhood, is one of the most visible and highly sought after locations in Miami Beach.

Scott Sandelin
Scott C. Sandelin, an associate vice president investments in Marcus & Millichap’s Miami office, represented the seller, a Miami Beach-based limited liability company. Jonathan Gerszberg, a senior associate, also in the Miami office, secured the buyer, a private investor from New York.

“The properties’ current mixed-use commercial zoning designation allows for several different uses in addition to retail,” says Sandelin.

“This will allow for many future redevelopment options. The Miami Beach retail market demand continues to grow due to the proliferation of international, national, regional and local tenants and the tourists, visitors and locals who frequent the area to shop, eat, and enjoy the community.” 

“The buyer is extremely bullish on the South Florida market and plans to enjoy the cash flow from the long-term tenants as the surrounding market continues to appreciate,” adds Gerszberg.

Jonathan Gerszberg
The property is located at 1100 5th St. in Miami Beach, Fla. The two national tenants are Burger King and Pier 1 Imports. The Pier 1 building consists of 8,504 square feet on the ground level with an additional 3,432 square feet on the second floor.

The adjacent Burger King building is 5,000 square feet and includes a second floor with 1,200 square feet of air conditioned storage/office space. The lot totals 32,650 square feet.

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

Gina Relva
Public Relations Manager

(925) 953-1716

Hold-Thyssen Negotiates Office Building Purchase for Leading On Line Car Rental provider at Lexington Professional 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 the purchase of a $350,000 office building at Lexington Professional Park.  

Theresa Margaris, transaction specialist in Hold-Thyssen’s Tampa office, negotiated the transaction representing the buyer. 

Sevy Group Real Estate, LLC purchased the 2,500 square foot office facility to house the customer service team of Car Rental 8, America Car Rental and National Travel Deals, an online service that provides car rentals and hotels in 125 countries and 17,000 locations worldwide.

The local seller was Waterman Enterprises, Inc.

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 Inc. 407-644-4142