Wednesday, September 9, 2015

9th annual Comcast Business Waterfored 5K at Blue Lagoon Race Expected to Raise $30,000 for Communities in Schools of Miami-Dade

Elizabeth Mejia
MIAMI, FL — Billed as the largest family-friendly, networking event in the Southeast the 9th Annual Comcast Business Waterford 5K at Blue Lagoon, Presented by The South Florida BMW Centers is produced by Taylor & Mathis and TeamFootWorks.

The sanctioned 5K race (3.1 miles) will wind its way through Waterford at Blue Lagoon Office Park on Friday, November 6, beginning at 6:45 p.m., and will benefit Communities in Schools Miami-Dade. 

The event course opens at 3 pm with an Electric Edition after party immediately following.

The event is anticipated to include more than 3,000 race participants, over 65 corporate sponsors, and has contributed nearly $190,000 to benefit Miami Children’s Hospital, Public Schools of Miami-Dade & Broward counties and more.

The event will donate 100 percent of its proceeds to charitable causes. This year’s primary beneficiary is Communities in Schools of Miami-Dade, an affiliate of the nation's largest and most effective dropout prevention organization.

"We are so excited to have been selected as the beneficiary of the Comcast Business Waterford 5K Race, Presented by The South Florida BMW Centers", shared Elizabeth Mejia CEO of Communities In Schools of Miami. 

“The funds raised by the Event, Taylor & Mathis and all of the participants will help us achieve our mission of keeping students in schools and preparing them for life. 

“Over 20,000 students in Miami-Dade will be provided free tutoring, mentoring, counseling and life skills programs thanks to the generosity of all the Comcast Business Waterford 5K participants.”

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

Peter Romero – Event Organizer
Senior Property Manager
5805 Blue Lagoon Drive, Suite 440
Miami, Florida  33126
Ph:    305-267-8062

Terrazas Miami Celebrates 150 Sales; Miami River Community Undergoes Revitalization

Ana Maria Sierra
MIAMI, Sept. 9, 2015—Terrazas Miami, a luxury waterfront condominium development on the Miami River, has announced that it has reached 150 sales and is now almost 50 percent sold out. 

Prices at Terrazas Miami start in the mid-$200,000s and a majority of the units are priced under $400,000.

“Many projects in South Florida right now are in the pre-construction phase, but at Terrazas, buyers can close immediately and either begin living at the property or purchase a pre-leased unit and begin earning rental income,” said Ana Maria Sierra, sales manager at Terrazas.

Located at 1861 NW South River Drive, Terrazas Miami is a two-tower, 324-unit luxury, gated community located directly on the Miami River. 

Terrazas Miami condominiums, 1861 NW South River Drive,  Miami, FL

For more information on Terrazas Miami, contact the sales office at 305-440-4775.

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


Ilana Tescher-
Sandra Reichman -

Stonemark Managing Nine Multifamily Communities for AH Capital in Metro Atlanta and Athens, GA

Arbors North Decatur Apartments
Atlanta, GA (Sept. 9, 2015) – AH Capital and its vertically integrated management company, Sycamore Property Management, have chosen Stonemark Management to transition from self-performing to outsourced management. 

The communities, which Stonemark now manages, include a total of 2,341 units in the Metro Atlanta and Athens areas.

“We selected Stonemark because we believe its credentials, record of success and employee dedication will help our assets cross a new threshold of financial performance,” said Joel Miller, Executive Director of AH capital. “With some of our assets entering the market, we determined it’s best for all parties involved to have a partner like Stonemark providing guidance and stability.”

Oaks at Holcomb Bridge Apartments

As of Aug. 31, Stonemark now manages:

·     Arbors at North Decatur – 156 units near Decatur
·     Ashland Lakeview – 255 units in Stone Mountain
·     Cascade Oaks – 112 units in Southwest Atlanta
·     Moore’s Mill Village – 171 units in Northwest Atlanta
·     Oaks at Holcomb Bridge – 304 units in Roswell
·     Retreat at Marketplace – 330 units in Southwest Atlanta
·     University Gardens – 357 units in Athens
·     University Oaks – 500 units in Athens
·     Veracruz – 156 units in Forest Park

Stonemark President Walt Lamperski said the firm is extremely pleased to partner with AH Capital on its Georgia portfolio.

 “Their core values of educating and promoting on-site employees, improving the physical asset and enhancing financial results aligns beautifully with Stonemark’s initiatives,” Lamperski said.

Veracruz Apartments
“Stonemark’s extensive experience and expertise in the Atlanta market will add great value to this new relationship.”

AH Capital produces opportunistic returns for investors in real estate markets by creating value through targeted asset repositioning. Since its inception in 2010, the privately-owned firm has successfully redeveloped more than $100 million of multifamily assets. Its subsidiary, Sycamore Property Management, has served as the firm’s managing entity since 2011.

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

CBRE Lists Mercantile Bank Plaza for Sale in Winter Park, FL

Mercantile Bank Plaza, 1560 North Orange Avenue, Winter Park, FL

WINTER PARK, FL -- CBRE, Inc. is the exclusive marketing broker for 1560 N. Orange Ave; a Class-A, seven story, multi-tenant office building located in Winter Park, Florida. Excellent access and visibility, strong occupancy and high quality nearby amenities make 1560 Orange an excellent investment that does not come available often.
   Property Snapshot

Rentable Area 102,651 sq. ft.
Occupancy 91%
Land Size ±4.74 Acres (±206,651 SF) on main parcel plus
±0.64 Acres (± 27,878 SF) on parking lot across Orange Avenue
±5.38 Acres TOTAL
Year Built 1971
No. of Stories Seven
Parking 234 Surface Spaces on-site, plus 60 in the lot across Orange Avenue
Submarket Winter Park

Ron Rogg
Investment Highlights

  +  NOI projected to grow 66% over the next ten years
 +  Winter Park office vacancy rate is only 10.78% as of 2Q 2015 (Class A vacancy is 4.36%)
 +  In-place rents are below market
 +  Strong in-place income from credit tenants
 +  Additional development potential: medical, office, retail, residential
 +  Superior location and visibility on a hard corner, offering more than 1,100 linear feet frontage on 17/92 and Orange Avenue
   +  Minutes away from Orlando's CBD, Florida Hospital, Park Avenue and Rollins College
 +  Amenities include an on-site fitness center and ATM
 +  Located at signalized intersection
 +  Rare opportunity to purchase a well-established office property in one of Orlando’s most exclusive submarkets
 For a complete copy of the company’s news release, please contact:

 Ronald J. Rogg, CCIM
Executive Vice President
+1 407 839 3194

Mortgage Bankers Reports Commercial/Multifamily Delinquencies Continue Downward Trend in Second Quarter

Jamie Woodwell
WASHINGTON, D.C. (Sept. 9, 2015) — Delinquency rates for commercial and multifamily mortgage loans continued to decline in the second quarter of 2015, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

“As commercial property incomes and values continue to climb, and financing remains plentiful, loan performance continues to improve as well,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.

 “Commercial and multifamily mortgage delinquency rates were down broadly in the second quarter, with highlights including the lowest 90+ day delinquency rate on bank-held multifamily loans since the series began in 1993, and 60+ day delinquency rates below 0.06 percent for loans held by life companies, Fannie Mae and Freddie Mac.”

The MBA analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae, and Freddie Mac.  Together these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.

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

Ali Ahmad

(202) 557-2727

Cortland Partners’ New Acquisitions Keep Company on Track to Meet Goals

Steven DeFrancis
ATLANTA, GA — Cortland Partners is on track to meet its growth objectives for 2015 thanks to the company’s acquisitions since the beginning of the year, including its most recent addition in August of 1,374 units with a value of nearly $139 million across markets in Georgia, Texas and Florida.

Since the start of 2014, Cortland Partners has acquired approximately 14,000 units and now owns over 30,000 apartment homes throughout the Southeast, Midwest, and Texas.

As part of this expansion, the Atlanta-based company opened a new regional office in Charlotte, North Carolina in April. This spring, Cortland purchased 3,265 units in Charlotte, becoming the fourth-largest multifamily owner in the Queen City.

The company’s growth has landed it on the 2015 National Multifamily Housing Council’s (NMHC) prestigious annual ranking of the 50 largest apartment owners. This designation marks Cortland’s first time on the list, which is a nationwide ranking based on the number of units owned.

“Our growth this year is both significant and sustainable,” said Steven DeFrancis, CEO of Cortland Partners. “Through our strategic infrastructure, which includes product design, property management, construction management, and manufacturing, we are uniquely positioned to drive outsized returns by meeting the growing demand for distinct living choices and superior service.”

Cortland, which employs over 950 associates in eight states and is the only institutionally scaled, multifamily value-add enterprise in the country, began as a developer and still pursues development opportunities. Yet, the company has shifted its primary focus in recent years, using its development expertise to revitalize already existing communities in order to deliver a higher quality product for a better living experience.

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

Sarah DeFrancis
Cortland Partners

Marcus & Millichap Arranges $8.75 Million Sale of 96-Unit Grand Oaks Apartments in Tampa, FL

Francesco P. Carriera
TAMPA, 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 Grand Oaks Apartments, a 96-unit multifamily community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $8,750,000.

Francesco P. Carriera and Michael P. Regan, both vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was secured and represented by Carriera and Regan.

Grand Oaks Apartments is a 96-unit multifamily community located at 8450 Standish Bend Drive in Tampa, Florida. The property was constructed in 1984, and the amenities include a fitness center, picnic area with barbecue grills, clubhouse and sparkling swimming pool.

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

Richard D. Matricaria
Vice President/Regional Manager, Tampa

(813) 387-4700