Friday, December 5, 2014

ARA Florida Reports High Demand in Strong Multifamily Investment Sales

Richard Donnellan
Boca Raton, FL  — The Florida office of Atlanta-headquartered ARA, the largest privately-held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently announced that the office has closed $1.04 billion in multihousing investment sales, land sales, equity capital placement and financing to date in 2014 with 42 closed transactions.

This pace is expected to continue, as the firm has an additional 19 deals under agreement and a pipeline of 20 active marketing assignments.

ARA Florida is comprised of a team of eight brokerage professionals and support staff to cover multihousing transactions throughout Florida. The team has transacted more than $14.4 billion since its inception in 1995.  The ARA Florida office is led by industry veterans Dick Donnellan and Marc deBaptiste.

The Central and North Florida Team is comprised of Kevin Judd, Patrick Dufour and Scott Ramey. Avery Klann, Hampton Beebe and Troy Ballard comprise ARA’s South Florida Team.

Marc deBaptiste

“Multifamily investment sales remain a hot investment product due to high occupancies and strong rent growth,” noted ARA Founding Principal Richard Donnellan.

 “We are seeing a compression in cap rates for properties across virtually all markets in Florida as demand continues to outpace supply,” said ARA Founding Principal Marc deBaptiste. “Currently there is a lack of product for sale compared to 2013.” 

“With limited supply available, particularly in South Florida, core product continues to be highly sought after by both institutional buyers and large private groups,” said Donnellan.
  For a complete copy of the company’s news release, please contact:

Marti Zenor
ARA Office
(561) 988-8800

Plaza Advisors Announces Sale of Aloma Square Shopping Center in Winter Park, FL

Jim Michalak
TAMPA, FL -- Plaza Advisors is pleased to announce the sale of the Aloma Square Shopping Center located in Winter Park (Orlando) Florida.

The grocery anchored shopping center totals 91,356 square feet of gross leasable area. The major tenants include Aldi, Deal$, CARQUEST and Fresenius Medical Care.

Other notable tenants include: CosmoProf, Liberty Tax and Subway. The property, constructed in 1986, was 88.8% leased at the time of sale.

Mike Cvetetic and Jim Michalak of Plaza Advisors represented the seller in the transaction. No other brokers were involved in the sale. The seller and buyer were Noble Properties and a private equity group named Aloma Square WP, LLC, respectively. 

 “This center offered numerous attractive aspects to the capital markets including: an excellent credit tenant roster, a value-add component, sustainable base rents, and is located at a high traffic volume intersection within an affluent trade area” Cvetetic stated.

Mike Cvetetic
Plaza Advisors specializes in the disposition of anchored shopping centers located throughout Florida. The company has successfully closed fourteen centers since December 2013.

 Those closings included twelve grocery anchored assets: six Winn Dixie, three Publix, an ALDI, a Walmart Neighborhood Market, and a Dollar General Market.

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

Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Fax 831.2627

PKF-HR Forecasts Broad-Based RevPAR Growth For All Segments of U.S. Lodging Industry

R. Mark Woodworth
Atlanta, GA– All segments of the U.S. lodging industry will enjoy strong performance for the foreseeable future according to the recently released December 2014 edition of PKF Hospitality Research’s (PKF-HR) Hotel Horizons® (PKF-HR is a CBRE company). 

Rising levels of employment, combined with increased geographic expansion of the national economic recovery, will result in revenue per available room (RevPAR) growth in excess of long-run averages for all hotel chain-scales, most location categories and the vast majority of markets from 2014 through 2017.

“No matter what hotel performance indicator you look at for any type of hotel, we foresee extremely favorable movements the next few years,” said R. Mark Woodworth, president of PKF-HR.

“Our firm is projecting demand growth to outpace changes in supply in the U.S. through 2016.  That will result in industry wide occupancy levels at, or above, all-time record levels through 2017.

 “With scarcity now a reality for consumers in many markets for a growing number of property types, hotel operators will have the leverage they need to drive room rates well above the pace of inflation,” Woodworth added. 

“Real average daily room rate (ADR) growth driving RevPAR will contribute to a six year period of double-digit increases in hotel profits; something we have not seen in the 78 years PKF has been tracking the U.S. lodging industry.”
The December 2014 Hotel Horizons® report forecasts ADR to increase by an annual average of 5.4 percent from 2014 through 2017. 

 In turn, PKF-HR is forecasting unit-level net operating income to increase at an average annual rate of 11.8 percent during this same period.

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

R. Mark Woodworth                                                
PKF Hospitality Research                                     
Tel: 404 842 1150, ext 222                                    

Chris Daly
Daly Gray Public Relations
Tel: 703 435 6293

Faris Lee Investments Completes $6.1 Million Sale-Leaseback of NNN-Leased Single-Tenant Retail Property Occupied by Kiddie Academy in Irvine, CA

Matthew Mousavi
 IRVINE, CA – Faris Lee Investments, a leading retail advisory and investment sales firm, has completed the $6.1 million sale-leaseback of a 16,600-square-foot, single-tenant, NNN-leased retail property fully occupied by Kiddie Academy in Irvine, Calif.

 At the close of escrow, Kiddie Academy ownership signed a new long-term 20-year lease with rare annual rent increases.

Matthew Mousavi, Patrick Luther, and Thomas Chichester of Faris Lee Investments represented the seller and operator of Kiddie Academy, JS&A, LLC.

The buyer, Los Angeles-based Everwin Investments, Inc., was represented by Treeline Realty. The closing cap rate was 6.5 percent and the price-per-square-foot was just over $367.

The property, situated on .89 acres at 16655 Noyes Ave., was built in 1974 and underwent a complete renovation in 2007. This highly successful Kiddie Academy location has been operating at full capacity, year-over-year, since opening in 2006.

Patrick Luther
“Faris Lee highlighted the rare opportunity to own a stable retail property in a key central Orange County location. We also advised the operator/seller, an award-winning regional franchisee for Kiddie Academy, on how to strategically structure a sale-leaseback,” said Mousavi.

“We received 15 offers on the asset, secured strong pricing and one of the lowest cap rates for a preschool-occupied property over the last few years.”

The preschool is well-located in between Vestar Development’s The District Shopping Center (anchored by Costco, Lowes, Target, and Whole Foods) and Diamond Jamboree – both highly successful retail developments.

The property also benefits from a dense location with 538,000 people living within a five-mile radius, with an average annual household income in excess of $96,000, as well as an abundance of daytime employees in the immediate vicinity who have a need for child care services.

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

Darcie Giacchetto
Spaulding Thompson & Associates