Friday, May 5, 2017

Central Florida Commercial Real Estate Firms Join Forces

Patrick Mahoney
ORLANDO, Fla. – Two of Central Florida’s long-standing commercial real estate firms have merged.

Representatives from NAI Realvest in Orlando and Charles Wayne Commercial, a Volusia County affiliate of Charles Wayne Properties, Inc., confirmed that the two companies have combined their real estate brokerage operations to better serve the growing client base of both firms.

NAI Realvest is a leading commercial real estate force in the Central Florida region, and Charles Wayne Properties has been a dominant force in Volusia County commercial real estate since 1978.

“This partnership provides additional strength and reach to both companies,” NAI President and CEO Patrick Mahoney said. “NAI Realvest gains the reputation and reach of Charles Wayne Properties in the Volusia market, while Charles Wayne Properties profits through gaining the ability to utilize our global partnership with NAI.   We could not be more excited to have Charles Wayne Properties as partners for the future.” 

Charles Lichtigman

“Our combined brokerage companies have top experts in every aspect of Central Florida commercial real estate,” said Charles Wayne Chairman and Founder Charles Lichtigman. “Together, we make a dynamic force with the benefit of nationwide and international coverage.”

NAI Realvest and Charles Wayne Properties both have development, consulting and investment affiliates which are unaffected by the merger of their commercial brokerage affiliates.

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

Beth Payan or Larry Vershel, Larry Vershel Communications Inc. 407-644-4142

Grandbridge Vice President Adam Lipkin Arranges New Loan for Republic of Nauru, World’s Smallest Island Nation

Adam Lipkin
MIAMI, FL and HOUSTON, TX  Adam Lipkin, Vice President of Grandbridge Real Estate Capital's Miami team, has secured a $7.8 million refinancing for a Houston-area office building owned by a sovereign wealth fund operated by the Republic of Nauru, a South Pacific island nation

The 18-month loan was provided by a U.S-based crowdfunding real estate platform. With just under 10,000 inhabitants, Nauru is the world’s smallest island nation. Its government developed the Nauru Phosphate Royalties Trust to invest proceeds from a state-owned mining company.

In late 2015, Lipkin arranged a $6.2 million bridge loan for the trust, which has invested in numerous U.S. real estate assets over the years. The financing was secured by a 6-story, 138,633-square-foot single-tenant office building in the Clear Lake submarket of Houston.

The new loan facilitated by Lipkin provides a short-term financing solution for the property, which is mostly occupied by Jacobs Technology, a wholly owned subsidiary of publicly traded NASA contractor Jacobs Engineering Group (NYSE: JEC). Jacobs provides technical, professional and construction services to various industrial, commercial and governmental clients.

“While conventional lenders are understandably challenged and conservative with terms these days, there are viable and creative lending options out there,” Lipkin said. “With lenders that are more focused on the underlying collateral value, there is flexibility with rates, terms and structures.”

Lipkin worked with the Trust’s experienced asset manager, Ben Jacobson, founder of Blackstone Consulting, a Miami-based asset management firm. Jacobson’s firm was hired by the Trust to assist with numerous challenges and improve the overall returns and marketability of the asset.  Within the last 18 months, Jacobson solved prior management issues, renegotiated and extended the lease term, improved operations and returns before securing the financing through Grandbride.

“There aren’t many creative, outside the box commercial financing options, especially not for foreign-based borrowers,” Jacobson said. “We worked together to ensure the eventual lender would be thrilled to underwrite this asset in a strong office submarket.”

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

Eric Kalis
Account Director, BoardroomPR

O 954-370-8999
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322
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Longmeadow Shops in Longmeadow, MA Celebrates Expanded Lifestyle Center and New Retailers

Time Capsule Dedication
 Longmeadow, MA — Over two years ago, the Longmeadow Shops’ owners Grove Property Fund had a vision to improve their lifestyle center. Today, that vision was recognized at a public event to celebrate the official Grand Opening of the recently expanded shopping center.

All of the Longmeadow Shops retailers gathered with business, political and community leaders to mark this milestone.  

The group recognized the community effort that was put forward to make the expansion a success, and also showcased the retailers who recently opened in the expanded space including J.Crew Mercantile, Verizon Wireless, and CVS Pharmacy. 

State Senator Eric Lesser, representatives from State Representative Brian Ashe’s office, Town Select Board Members Marie Angelides, William Low and Thomas Lachusia, Town Manager Stephen Crane and Longmeadow Fire Chief John Dearborn headlined a group of dignitaries joining Grove Property Fund, project development team members, and retailers for this celebration.

“A strong mix of local, regional and national tenants has been a recipe for success here at the Longmeadow Shops,” said Steve Walker owner of Grove Property Fund.  “We are very grateful for the all the community support that we have received leading up to today’s milestone, and we are very excited to showcase our enhanced our shopping center to the community.”

The Longmeadow Shops has been a fixture in the heart of the Longmeadow community dating back to the early 1960’s. The property was purchased in 1994 by Grove Property Fund.  Over the past two decades, Grove Property Fund has prioritized maintaining the charm and character of the shops, while also providing area residents with top-notch local and national retailers and restaurateurs.

“For as long as I can remember, the Longmeadow Shops have served as a place for the community to gather. In that spirit, I’m glad to join with my community, my colleagues and business leaders today to reaffirm our commitment to sensible and sustainable business development in Longmeadow. This recent expansion at the Longmeadow Shops is a welcome addition in our community,” said Senator Lesser, Chairman of the Economic Development and Emerging Technologies Committee.

The event featured a time capsule dedication where each of the Longmeadow Shops retailers placed branded items into the capsule along with other fun branded items, including mementos from the Town of Longmeadow. 

Marie Angelides
Proclamations were presented from the U.S. House of Representatives, Massachusetts State Senate and Massachusetts House of Representatives and placed into the time capsule. Past news coverage from The Republican –, The Longmeadow News, The Reminder, Business West, WWLP 22News, Western Mass News, and LongmeadowBiz were also contributed. 

The capsule will be buried at a later date and unearthed 20 years later. The event also featured a formal ribbon cutting ceremony.

Current tenants at the Longmeadow Shops include United Bank, Bertucci’s, Fleet Feet, Caren & Company, Max Burger, Giftology, Peachwave, Chico’s, Gap and Gap Kids, Ann Taylor, Delaney Market, In Chic Boutique, Oksana Salon & Spa, Francesca’s, Starbucks, J. Jill, Shoenique, CVS Pharmacy, Jos.A.Bank, Ume Asian Bistro, Bank of America, J.Crew Mercantile and Verizon Wireless.

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

Sean Shortell
Senior Public Affairs Specialist
Watkins Strategies

Matt Watkins                                       
Watkins Strategies