Tuesday, July 14, 2015

HFF closes sale of ultra-luxury residential tower in Seattle, WA

Premiere on Pine, Pine Street and Eighth Avenue
Seattle, WA
PORTLAND, OR –  Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of   a 386-unit, 40-story ultra-luxury apartment tower in Seattle’s Pike-Pine retail corridor.

HFF marketed the asset on behalf of the Holland Partner Group and its finance partner. 

Premiere on Pine is situated at the intersection of Pine Street and 8th Avenue within two blocks of Interstate 5 and Westlake Station, the Puget Sound’s most heavily-traveled transportation hub. 

Completed in 2014, the LEED Silver-certified tower has studio, one-, two- and three-bedroom condominium-quality units averaging 797 square feet each. 

The property also encompasses 3,385 square feet of ground floor retail and has amenities such as a fitness center, dog run, theatre room, club room, conference room, two event spaces and a 3,000-square-foot balcony that wraps around the south and west side of the building providing panoramic views of the surrounding area. 

The HFF team representing the developer was led by executive managing director Matthew Lawton, managing director Ira Virden and senior managing director Gerry Rohm.

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

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

The Related Group Unveils Plans for Luxury High Rise Apartments in Midtown Atlanta, GA

 ATLANTA, GA (July 14, 2015) – Miami-based The Related Group announces plans to build a highly appointed luxury high rise apartment building in the heart of Midtown, featuring a 70,000 square-foot multi-level flagship Whole Foods Market.

 Rising 38 stories above this bustling live, work and play area – at the corner of 14th and West Peachtree Streets – residents of the 390 luxury apartments will have spectacular views of the city.

 In addition to direct lobby access to Whole Foods and other planned retail, residents will be just steps away from the city’s best dining, shopping and offices, as well as the heart of the city’s art district.

 “Midtown is the city’s most walkable neighborhood and thriving business district, home to Fortune 100 companies, technology incubators, critically acclaimed arts institutions and acres of green space” said Ed Allen, vice president of development for The Related Group. “We are building residences that exceed the expectations of discerning residents who want to live in the center of it.”

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

 andi hill
liz lapidus pr
772 edgewood avenue ne
atlanta, ga 30307
p 404-688-1466 f 404-681-5204

Finnegan Signs Full-Floor Lease in Midtown Atlanta

Nicole Goldsmith
 ATLANTA, GA, July 14, 2015 – Finnegan, Henderson, Farabow, Garrett & Dunner, LLP has signed a 26,252-square-foot lease for a full floor at 271 17th St., located at Atlantic Station in Atlanta, with landlord CBRE Global Investors.

Atlantic Station has attracted numerous tenants in the technology, advertising, media and information sectors recently, “but this is an environment where companies from any industry can thrive,” said John Gilb, principal at CBRE Globe Investors.

“Finnegan is one of the top intellectual property law firms in the country and we are ecstatic they chose 271 17th St. for their new Atlanta home.”

“We are very excited to be relocating to 271 17th St.,” said Virginia Carron, managing partner of Finnegan’s Atlanta office. “This gives us the opportunity to design efficient new space and enjoy the excellent amenities available at Atlantic Station and throughout Midtown Atlanta.”

Virginia Carron
Jeffrey Keppen and Nicole Goldsmith of CBRE represented the landlord in the transaction, and Brad Armstrong, Chris Wagner, and Shannon Price of JLL, together with Robert O. Copito of CBRE, Inc., represented the tenant in the transaction.

 Finnegan is relocating from the SunTrust tower in Downtown Atlanta. 271 17th St. is a 25-story, 541,789-square-foot office tower offering spectacular views, highly efficient and customizable floor plates and exclusive tenant services.

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

Pam Barnett
Corporate Communications Director

+1 213 683 4368

50 Biscayne Boulevard in Miami, FL Hits Market for $8.3 Million

50 Biscayne Boulevard, Downtown Miami, FL
Ryan T. Shaw
MIAMI, FL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced that it has obtained the exclusive listing for 50 Biscayne, a 9,300-square foot retail/office condo, located in Miami’s Central Business District. 

The asset is listed for $8,300,000.

Ryan T. Shaw, an associate vice president investments, and Brooks Minford, an associate, both in Marcus & Millichap’s Miami office are representing the seller, a private investor from Sunny Isles, Fla.

“50 Biscayne offers an excellent opportunity for an investor to own the retail space that fronts Biscayne Boulevard and Flagler Street. The space is currently built out as a restaurant with a bar and patio space,” says Shaw.

“A buyer has the option to bring in a new restaurant tenant or divide the space.  Similar NNN spaces in the area are renting above $50 per square foot and the other retail space in the building is fully occupied.”

The two-story, ground floor, retail/office condo is 9,300 square feet.  Significant properties adjacent to, across from, or near the property include: Marshall's, Walgreens, Bank of America, and BB&T.
For a complete copy of the company’s news release, please contact:

Kirk A. Felici
First Vice President/District Manager
Miami, FL

(786) 522-7000

DiVosta now offering the versatile Taft Street floor plan at Veranda Gardens in Port St. Lucie, FL

Josh Graeve
Port St. Lucie, FL --- DiVosta Homes has recently introduced at Veranda Gardens in Port St. Lucie a floor plan that’s been one of the most popular designs from the homebuilder’s newest collection sold in the south Florida region.  

The versatile Taft Street plan base-priced at $209,990, offers from 1,433 square feet of living area to 2,188 square feet with two or three bedrooms and two or three full bathrooms and a two-car garage.  

A standard multi-purpose flex room by the entry can be used as an office, hobby or private guest room.  

“The Taft Street has so many variations that it suits everyone from first time homebuyers to transitional families with adult children or in-laws, or just active adults who often entertain out of state guests,” said Josh Graeve, vice president of sales for DiVosta in South Florida.  “It’s exceptional for entertaining.”

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

Beth Payan of Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


NAI Realvest Negotiates Sale of Bank Owned Office-Warehouse Building in Sanford, FL for $575,000

Kevin O'Connor
ORLANDO, FL – NAI Realvest recently negotiated the $575,000 sale price for a bank owned office-warehouse building with 14,268 useable square feet located at 5450 Bryant Ave. in Sanford.

NAI Realvest Principals Matt Cichocki and Kevin O’Connor and Associate Mitch Heidrich, represented Ocwen Loan Servicing and the seller U.S. Bank National Assn. of West Palm Beach in the sale to KTD Investments, LLC of Sanford.

The buyer intends to relocate their existing businesses – Prager Builders and Encompass Enterprises – from their current location on Stonewall Place in Sanford. 

This is the eighth Central Florida property that the NAI Realvest Retail Team of Cichocki, O’Connor and Heidrich, has sold for Ocwen Loan Servicing in the past 18 months.

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

Beth Payan of Larry Vershel, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


The Buccini/Pollin Group Acquires 353-Room Sheraton Raleigh Hotel in Raleigh, NC

Dave Pollin
RALEIGH, NC, July 14, 2015—Officials of The Buccini/Pollin Group, a privately-held, full-service real estate acquisition and development company (BPG), today announced that it has completed the acquisition of the 353-room Sheraton Raleigh Hotel in North Carolina. 

The hotel, at 421 South Salisbury Street, will be operated by PM Hospitality Strategies, Inc. (PMHS), a leading, national hotel management company. 

This brings PMHS’ third-party management portfolio to more than 35 hotels, including seven new assignments in 2015, with multiple projects in the pipeline expected to close within the next 18 months.

            “BPG continues to execute its strategic plan of acquiring full-service, stabilized hotels in primary and secondary markets and selectively developing new hotels in high barrier-to-entry urban locations,” said Dave Pollin, co-founder.  “2015 is one of the strongest years the hotel industry has ever experienced, and all signs point towards continued prosperity.”

Joseph Bojanowski, president of PMHS, noted, “We have doubled our management portfolio over the past two years, adding properties in six states. 

Joseph Bojanowski
“Our goal is to continue growing our platform, essentially doubling in size again over the next three years. 

"With the industry operating at very positive levels, savvy owners are engaging proven management companies to optimize profitability and customer satisfaction while controlling margins. 

“PMHS has demonstrated its expertise in these areas and plans to aggressively market its capabilities and successes as it pursues its growth goals.”

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

Chris Daly
(703) 435-6293


Retail center in Miami sells for $1.15 Million; Bank-owned property features popular La Bamba Restaurant

Achikam Yogev
MIAMI, Fla. (July 14, 2015) – A retail center in a densely populated and industrial area of Miami has sold for $1.15 million.

 The 12,182-square-foot property, at 4401 SW 74th Ave., was in foreclosure and sold for below replacement value at $94 per square foot.

The seller, 4401 SW 74th Ave, LLC, was represented by Achikam Yogev, Senior Vice President with Colliers International South Florida based out of the company’s Miami office. The buyer, MST Corporation, was self-represented.

The retail center, located near the Palmetto Expressway on the corner of SW 74th Avenue and SW 42nd Street, is fully leased and includes the popular La Bamba Restaurant, a local check cashing company and an auto mechanic.

“With this retail center being fully leased and in a high-traffic area, it was a value purchase at below replacement value,” said Colliers’ Yogev. “In fact, we are still continuing to see REO properties on the market as more lenders are shedding their assets.”

The property was on the market for about a year and had environmental challenges that the buyer and seller were able to remedy.

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

Leah Saunders 
Senior Account Executive
B2 Communications
p 727.895.5030 x104 | c 813.924.0367

Multi Housing Advisors Brokers Two Apartment Community Sales Totaling $33.65 Million in Simpsonville, SC

Marc Robinson
CHARLOTTE, SC— Multi Housing Advisors (MHA) has arranged, in separate transactions, the sale of two apartment communities located in Simpsonville, South Carolina, for a total of $33.65 million. 

These transactions mark the fourth sale for MHA in the Greenville area this year.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in the transactions. The details are below:

·      Ginkgo Residential purchased the 120-unit Enclave at Fairview, located at 630 Fairview Road, from McCall Capital for $11 million. The property, built in two phases in the late 1980’s, features two- and three-bedroom townhomes, a resort-style swimming pool, fitness center, playground area, car care center and dog park.

·      Garden District Realty Partners acquired the 223-unit Garden District Apartment Homes, located at 100 Garden District Drive, from Waypoint Residential for $22.65 million. The property, built in 2008, features best-in-class finishes including hardwood flooring, granite countertops, plantation blinds, custom cabinetry and designer lighting fixtures.
 “The greater Greenville area is one of the nation’s healthiest apartment markets, fueled by consistently strong employment and population growth,” McCarley said. “This fundamental strength provides a bright outlook for these two assets and the area’s entire multifamily sector moving forward.”

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

Savannah Duncan
The Wilbert Group
404-343-0870 (O) 404-901-4433 (C)