Sunday, September 23, 2018

NAI Realvest Charles Wayne Commercial Closes on $1.14 Million Sale of 44 Residential Lots in Lake Helen, FL


Woods of Lake Helen Model Home,
West Volusia County, FL
Lake Helen, FL – NAI Realvest Charles Wayne Commercial, a local real estate industry leader with a global footprint, has closed on the $1.14 million sale by D.R. Horton Inc. of 44 estate-size homesites in the Woods of Lake Helen in West Volusia County .

Steve Costa, Associate at NAI Realvest Charles Wayne Commercial, negotiated the transaction on behalf of the seller.  Costa worked closely with the City of Lake Helen and its Historical Board to ensure the buyer would be a good fit for the City’s architectural gateway standards that maintain an Old Florida feel.

Melbourne-based Vintage Estate Homes, the buyer who plans to build single-family homes in a variety of architectural styles on the finished lots,  is building similar homes at Oakland Park in Winter Garden, Fla. 

Steve Costa
“The City of Lake Helen became convinced about the quality of Vintage Estate Homes’ designs, and they are now enthusiastic about seeing the subdivision move forward,” said Costa.

Vintage Estate Homes will be completing and opening models in the spring-summer of 2019 at the Woods of Lake Helen located off Main Street in the rural town southeast of DeLand.  



CONTACTS

Steve Costa, Associate, NAI Realvest Charles Wayne Commercial
386-804-7259 scosta@realvest.com

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



Select Strategies Realty Announces $78 Million Portfolio Acquisition in Metro St. Louis, MO


Reynolds Thompson
CINCINNATI, OH -- Select Strategies Retail Holdings V, LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, announced the completion of its $78.4 million acquisition of a seven-property shopping center portfolio in the greater St. Louis metropolitan area.

The 1,100,000 square foot portfolio is 91% leased and is anchored by a strong group of national tenants including ALDI, Fresh Thyme, Burlington and Planet Fitness.

Select Strategies Retail Holdings V made the acquisition on behalf of the firm’s principals and investment partners.

“Select’s investment strategy is driven by our analysis of retail trade areas, synthesized with our proprietary STAR methodology,” said Reynolds Thompson, chairman and chief investment officer.

“We combine an operator’s perspective with decades of investment experience, which allows us to identify unique investment opportunities with significant value-add components.”

Jeremy Sain
The HFF team that represented Select Strategies Retail Holdings V was led by managing director Jeremy Sain.

The St. Louis properties include Creve Coeur at 955 Woodcrest Executive Drive and 12139 Olive Boulevard; Kings Highway at 4650 Lansdowne Avenue; LeMay Shopping Center at 1000 LeMay Ferry Road; Gravois Plaza at 3727 Bamberger Ave.; Kirkwood Crossing at 1259 S. Kirkwood Rd. and Overland Crossing at 8901 Page Avenue.

 The portfolio also includes Fairview City Centre in Fairview Heights, Illinois.

The portfolio’s anchor tenants include The Home Depot, Fresh Thyme Farmer’s Market, ALDI, Office Max, Kohl’s, Home Goods, Dick’s Sporting Goods, Burlington Coat Factory, Hobby Lobby and Planet Fitness.

“We know this market well,” said Brian Neltner, CEO of Select Strategies Realty. “We have Select professionals on the ground in these specific sub-markets, so we can apply our leasing, development and management expertise to these assets.

Brian Neltner
"Given our long-standing presence and experience in this market, we expect to provide strong current returns and create long-term value for our investors.”

This transaction reflects the latest success of the Select Retail Advisors program, formed in 2015 to pursue investment opportunities on behalf of the firm’s principals and investment partners.

The value of transactions sponsored by Select now exceeds $175 million.

"We are appreciative of the opportunity to purchase these assets in a direct manner, which we believe is reflective of our reputation as buyers and operators in our primary markets", commented Neltner.

“We continue to see a disconnect between the investment community’s perception of risk and the risk we believe to be reality,” said Thompson.

 “There is an opportunity to identify attractive assets as public and institutional investors exit certain markets. Select’s trade area oriented investment protocol provides the framework for identifying these types of opportunities.”

Holiday Fenoglio Fowler, L.P. (HFF) provided advisory services to Select Strategies Retail Holdings V relating to the sourcing of debt capital for this portfolio. HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital market services to the global commercial real estate industry.

CONTACTS:

Natalie Hastings
513.376.2728
 natalie@nataliehastings.com


NAI Realvest Negotiates $600,000 Sale Price for Fern Park, FL Office and Retail Plaza


Legacy Plaza, 172-182 Oxford Road. off State Road 436
in Fern Park, FL

 
Tai Lee
FERN PARK, FL / ORLANDO , FL. --- NAI Realvest recently closed on the $600,000 investment sale of Legacy Plaza , a six-unit, office / retail building at 172-182 Oxford Rd. off SR 436 in Fern Park .    

NAI Realvest Associate Tai LeeCCIM, negotiated the sale representing the local Seller Valerie Bombino.   

Hamtaee Enterprise, LLC, a Winter Haven investment firm, is the buyer of the 5,040 square foot building constructed in 1970 on 0.21 acres.   The property which is 80 percent leased, was purchased for investment only.    
Esmaeil Hamtaee

Esmaeil Hamtaee of Coldwell Banker represented the buyer in the transaction. 

CONTACTS:

Tai Lee, CCIM, Sales and Leasing Associate, NAI Realvest 
407-875-9989 tlee@realvest.com;

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

Beth Payan or Larry Vershel, Larry Vershel Communications
407-644-4142 beth@larryvershel.com

 



HFF announces $30 million financing for three-property office portfolio in Burlington, MA


Blanchard Woods Office Complex, Burlington, MA
Porter Terry
BOSTON, MA – Holliday Fenoglio Fowler, L.P. (HFF) announces $30 million in financing for Blanchard Woods, a three-property office portfolio totaling 194,421 square feet in the suburban Boston community of Burlington, Massachusetts.

The HFF team worked on behalf of the borrower, Duffy Properties, to secure the 11-year, fixed-rate permanent loan through Nationwide Life Insurance Company. 

Blanchard Woods comprises 76, 78 and 80 Blanchard Road, which are strategically located on 8.26 acres directly abutting Route 128/Interstate 95 approximately 13 miles north of Boston. 

 The property benefits from its location in the Route 128 North office submarket of greater Boston and more specifically, Burlington, which has a strong and growing amenity base, proximity and easy access to Boston’s downtown and suburban employment centers and is home to recent developments such as the 3rd Avenue lifestyle center, The District and Wayside Commons. 
Martha Nay

The three Class A office buildings were renovated or completed between 2011 and 2014 and feature a cafeteria and two fitness centers.  Collectively, Blanchard Woods is 91 percent leased to 19 tenants, including anchor tenant Cambridge Trust.    

The HFF debt placement team representing the borrower included senior director Porter Terry and director Martha Nay.

“Our client developed a best-in-class asset with a goal of holding it long-term for their own account,” Terry said.  “Working with Nationwide, HFF was able to provide a long-term, fixed-rate financing option with compelling terms that helped them realize this goal.”


CONTACTS:

PORTER TERRY
HFF Senior Director
(617) 338-0990

MARTHA NAY
HFF Director
(617) 338-0990

KRISTEN MURPHY
HFF Director, Public Relations
(617) 338-0990