Tuesday, September 27, 2016

Berger Commercial Realty Named Exclusive Sales Agent for $19 Million Portfolio of Three Business Parks Totaling 207,752 SF in Fort Lauderdale, FL

Joseph Byrnes
FORT LAUDERDALE, FL  (Sept. 27, 2016) - Berger Commercial Realty was appointed by Rising Tide Development, LLC as the exclusive sales agent for a portfolio consisting of three business parks in Fort Lauderdale. Listed at $19.275 million, the properties span 16.24 acres and total 207,752 square-feet of office, flex and industrial space.

Senior Vice Presidents Joseph Byrnes and Keith Graves and Senior Sales Associate Jonathan Thiel will serve as the brokers for the portfolio, which includes:

Powerline Business Center, an 82,339-square-foot grade-level warehouse, showroom and office park located at 5601 N.W. Powerline Road, which is 97 percent occupied and offers high visibility on Powerline Road;

Cypress Creek Executive Court, a 70,822-square-foot business park located at 2700 W. Cypress Creek Road that is 88 percent occupied and offers ample parking and convenient access to all of Broward County and South Florida;

and Cypress Creek Business Park, a 54,600-square-foot, two-building, single-story office and flex park located at 6555 N.W. Powerline Road, which is 82 percent occupied and features plentiful parking, round-the-clock access and flexible floorplans.

Keith Graves
"These are multi-tenant investment-grade properties with an in-place cash flow," Graves said. "This is a great opportunity for a potential buyer to acquire premier commercial property as either an entry point into the local market or as an addition to an existing commercial real estate portfolio."

Berger Commercial Realty was appointed as the exclusive leasing agent for the properties in 2014 and has increased the total average occupancy from 60 percent to 85 percent.

For more information about Berger Commercial Realty's brokerage services, call 954-358-0900.

 For a complete copy of the company’s news release, please contact:
Lexi Robinson, ext. 255, lrobinson@piersongrant.com
Marielle Sologuren, ext. 226, msologuren@piersongrant.com


Marcus & Millichap Arranges $4.35 Million Sale of 42-Unit Tampa Commons Apartments in Tampa, FL

Evan Kristol
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 Tampa Commons, a 42-unit apartment property located in Tampa, FL, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $4,352,500 equating to $103,630 per unit.

“The property offers a competitive advantage by providing newly-constructed three-story townhomes with the largest floorplans in the submarket.  

Apartments features hardwood flooring, fully equipped kitchens with attractive stainless steel appliances, private balconies, garden-style tubs, washer/dryers in each unit, and private two-car garages,” says Evan Kristol, senior vice president investments, in Marcus & Millichap’s Fort Lauderdale office

Kristol, along with Brandon J. Rex, vice president investments, in Marcus & Millichap’s Fort Lauderdale office, along with Nicholas Meoli and Michael Donaldson, vice presidents investments, in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Boca Raton, FL and the buyer, a partnership from Montreal, Canada.

Brandon J. Rex
Built in 2008 and 2009, Tampa Commons is situated on an approximately 1.83 acre site, and is comprised of six, three-story masonry-constructed buildings.  

The unit mix is comprised of 20 three-bedroom/three-and-one-half bathroom townhomes, 12 three-bedroom/three-and-one half bathroom townhomes, and 10 four bedroom/three-and-one-half-bathroom townhomes.

Tampa Commons is situated on North 58th Street, between East Fletcher Avenue and East Fowler Avenue. East Fletcher and East Fowler Avenues are both major east/west area thoroughfares, providing access within minutes to Interstate-275 to the west, and Interstate-75 to the east.  

The property is located at 5718 Las Ventanas Drive in Tampa, FL.

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

  Ryan Nee
Vice President / Regional Manager,
 Fort Lauderdale, FL
(954) 245-3400

NAI Realvest Names Rachel Saunders Associate

Rachel Saunders
ORLANDO, Fla. -- NAI Realvest, one of central Florida’s largest commercial real estate services companies, recently named Rachel Saunders, MBA an Associate.

Robin Webb, managing director at NAI Realvest, said Saunders has more than 12 years of experience in business and real estate. 

Saunders is a successful real estate entrepreneur and has been a partner and owner in real estate investment companies since 2004. 

She started and owns Southeast Ingenuity Investments, Inc. where she has been active in growing a portfolio of rental properties. 

Additionally, she has developed land for a Nashville suburb, and also sold hundreds of acres to Nestle Waters North America for aquifer use with water bottling companies.

Most recently, she worked with KW Commercial as a Commercial Agent and Realtor.  Early in her career, she worked with the Office of the Governor in Tallahassee as a Community Liaison, collaborating with businesses, non-profits and government agencies in building a state-wide coalition of child mentors.

Robin Webb
Her community and civic involvement includes Former Chair of Greater Orlando American Heart Association’s volunteer base, known as the “Passion” committee, and an appointment to the City of Winter Garden’s Canvassing Board.

Saunders holds an MBA from Florida International University.  She will be working with the NAI Realvest team of Chairman George Livingston, specializing in site selection, development, investment services, tenant representation and consulting.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

NAI Realvest Completes Sale of 6,822 Square Foot Orlando, FL Office/Retail Building for $400,000

Paul Partyka
ORLANDO, FL  --- NAI Realvest recently completed a $400,000 sale of an office / retail building at 3801Dahlia Drive off SR 436 in Orlando. 

Paul P. Partyka, Partner at NAI Realvest and Associate Juan Jimenez negotiated the sale representing the local Seller, Princess Tracy Co., Ubc.   

Goodrich Partners, LLC, a local investment firm, is the buyer of the 6,822 square foot building constructed in 1955 on 0.41 acres.   The property was purchased as is as part of a 1031 exchange. 

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com


HFF closes $147 million sale of 504-unit multi-housing community in Nanuet, NY

Jose Cruz
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $147 million sale of eaves Nanuet, a 504-unit multi-housing community in Nanuet, New York.

HFF marketed the property exclusively on behalf of the seller, AvalonBay Communities, Inc.  A joint venture between Harbor Group International, LLC and Azure Partners LLC purchased the asset free and clear of existing debt. 

 This transaction represents one of the largest apartment sales to have occurred in Rockland County, New York.

eaves Nanuet is situated on 54 acres at 100 Avalon Gardens Drive in the Rockland County community of Nanuet.  

The transit-oriented property is located near Interstate 287’s intersection with the Garden State Parkway and Palisades Interstate Parkway and Nanuet’s Metro North train station and park and ride lot, providing access to the George Washington Bridge and Midtown and Lower Manhattan.

 The 97-percent-leased community has 64 buildings totaling 504 homes, with a diverse mix of one-, two- and three-bedroom apartments averaging 1,208 square feet in size.  Apartments feature loft spaces, gas fireplaces, closet and attic storage, in-unit washers and dryers, direct-access personal garages and patios/balconies. 

Kevin O'Hearn
Community amenities include an outdoor swimming pool with sun deck, two tennis courts, grilling areas, two playgrounds, clubhouse, fitness center, yoga room, indoor basketball and racquetball courts and a resident lounge with fireplace and business center.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, directors Michael Oliver and Stephen Simonelli and associate director Robert Borny.

“Demand for well-located, value-add multi-housing continues to be very strong – especially in high-income submarkets like Nanuet,” said Cruz.  “This property is one of the largest in the county and provides investors with significant upside.”

  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

Arbor Appoints Brad Casey Senior Vice President, Chief Underwriter

Brad Casey
UNIONDALE, NY (Sept. 27, 2016) - Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, has announced the appointment of Brad Casey as Senior Vice President, Chief Underwriter in Arbor’s Dallas, TX, office. Mr. Casey will report to John Caulfield, Arbor’s Chief Operating Officer.

As Senior Vice President, Chief Underwriter, Mr. Casey will be overseeing the daily underwriting of Arbor’s growing agency platform, as well as developing, sustaining and enforcing the firm’s credit policy with respect to the agencies’ guidelines.

“Brad comes to Arbor with significant underwriting experience and a long track record of success," said John Caulfield, Chief Operating Officer. "We are confident Brad possesses the leadership and knowledge to support Arbor's continued growth and expansion of our agency market share through high quality loan production."

John Caulfield

Prior to Arbor, Mr. Casey was the Vice President and Deputy Chief Underwriter for PNC Real Estate, a division of PNC Bank. 

He has also formerly worked for ARCS Commercial Mortgage Company, which held the number one Fannie Mae DUS lender title for several years, before it was acquired by PNC.

Earlier in his career, Mr. Casey worked for Washington Mutual and Orix Capital Markets.

Mr. Casey graduated with his Master of Science degree in Land Development from Texas A&M University and his Bachelor of Business Administration degree in Finance and Economics, from Stephen F. Austin State University.

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

Christopher Ostrowski

$7.2 million refinancing for 118-unit multi-housing community in Aurora, CO secured by HFF

Shadow Tree Apartments, 1800 Billings Street, Aurora, CO

Josh Simon
DENVER, CO –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $7.2 million refinancing for Shadow Tree Apartments, a 118-unit multi-housing community in the Denver suburb of Aurora, Colorado.

HFF worked on behalf of Vukota Capital Management to secure the 10-year, 3.91 percent fixed-rate loan through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The securitized loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

Shadow Tree Apartments is located at 1800 Billings Street in the Aurora Village submarket.  The property is just off of Interstate 225 providing access to Interstates 25 and 70 and the Denver metropolitan area.

 Additionally, Shadow Tree Apartments is strategically located within two miles of Anschutz Medical Center, home to the University of Colorado Hospital and Fitzsimmons Army Hospital.  The two, three-story residential buildings are 94 percent occupied. 

The HFF debt placement team representing the borrower was led by managing director Josh Simon and associate director Brock Yaffe.

 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

Rendering for Planned Condominium Project
in TriBeCa Neighborhood, New York City

NEW YORK, NY -- Winter & Company has arranged a $38,373,183 construction loan (more than $5 million loan-per-residential-unit) for the development of an ultra-high-end luxury boutique condominium project located in TriBeCa.

The three-year construction loan is priced at LIBOR + 350 basis points with a floor of 3.7% and was structured with limited recourse.

Gregg Winter
Much of the existing building will be demolished and the resulting structure will be a nine-story building with seven large, luxurious units with copious terraces and outdoor space, in-building parking and units ranging in size from 3,393 to 7,098 square feet.

Winter & Company had also arranged the sale of this property from a previous developer to the current developer.

Winter & Company is a Manhattan-based, commercial mortgage advisory firm that specializes in arranging development and construction financing (as well as joint venture equity for new developments), multifamily and mixed-use property financing and arranging cooperative underlying mortgages since 1989.

Its affiliate, W Financial Fund, LP is a direct private bridge lender providing short-term, special situation financing primarily for NYC multifamily and mixed-use properties since 2003.

For a complete copy of the company’s news release and for more information on construction financing programs and arranging joint venture equity, please contact:

Gregg Winter - President
Winter & Company
Creative Minds | Unparalleled Service ®
149 Madison Avenue, Seventh floor
New York, NY 10016
Phone: 212 532-9170