Saturday, April 27, 2019

Marcus & Millichap Arranges $4.3 Million Sale of 55-Unit Treeview Villas in Holly Hill, FL

Adam Podbelski
HOLLY HILL, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Treeview Villas, a 55-unit apartment property located in Holly Hill, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $4,317,500.

Adam Podbelski, Ned Roberts, CCIM and Duane C. Anderson, investment specialists in Marcus & Millichap’s Tampa and Orlando offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

The buyer, a private investor, was also secured and represented by  Anderson, Roberts and Jason Hague, investment specialists in Marcus & Millichap’s Orlando and Tampa offices.   

“This was a true win-win for both seller and buyer.  For the seller we were able to realize a record price per unit for a property of the age and size.  

"At the same time the buyer is a acquiring a significant value-add opportunity, with in-place rents currently $200 per month below what can be achieved after renovations,” said Roberts, CCIM.

Duane C. Anderson
“This was a great acquisition for the buyer to add to their inventory in the Central Florida Market. There was a good amount of upside here making it a strategically good purchase,” added Anderson.

Built in 1980, all units in Treeview Villas are all two-bedroom, two-story townhomes. Treeview Villas is located at 913 Catherine Avenue in Holly Hill, Fla. 


Davis, Whitney

HFF arranges €30 million (U.S. $34.5 million) in financing for a landmark office building in Rotterdam, The Netherlands

Weena 200, a 173,000-SF landmark office building, Rotterdam,
The Netherlands.

LONDON, ENGLAND –  HFF Real Estate Limited (HFF) announced today that it has arranged 30 (U.S. $34.5 million) million in financing for Weena 200, a 173,000-square-foot landmark office building in Rotterdam, Netherlands.

HFF advised neo capital (neo), the London-based real estate investment and asset management firm, on the five-year, floating-rate acquisition loan.

Deborah Watt
Weena 200 is situated in the heart of Rotterdam’s central business district with immediate proximity to Rotterdam Central Station, which is the third largest train station in the Netherlands, and provides accessibility to the local metro, tram and bus routes. 

The highly prominent building was renovated in 2016 and is 81% leased to 30 different tenants operating across 20 business sectors, including real estate, shipping, healthcare and serviced office sectors.

The HFF debt placement team representing the borrower was led by managing director Claudio Sgobba, and director Andrew Hornblower.

Claudio Sgobba

“As one of our core client relationships, we are very pleased to have completed our third financing on behalf of neo capital in the last 24 months,” Sgobba said. 

 “They consistently identify and perform on attractive income-generating opportunities with strong upside.  Neo capital’s business plan is emblematic of their asset management expertise, as their hands-on efforts will generate a 33% increase in rents over the first few years of ownership. 

 "As a result of their success, neo’s sterling reputation has elevated them to become a top-tier global investment manager with activity in Europe, North America and the Middle East.”

Andrew Hornblower
Deborah Watt, Head of Real Estate at neo capital, added, “We are pleased to have acquired our first commercial asset in the Netherlands with the purchase of Weena 200. 

"It is in a prime location with fantastic connectivity and is let to a range of tenants producing a well-diversified income stream. The building was refurbished recently and is therefore attractive to new occupiers and offers the potential for rental growth.

"This is exactly the type of asset that neo capital is looking to invest in – good location, good connectivity, good tenants and which will allow us the opportunity as asset managers to improve and develop the asset for the betterment of our occupiers.”

About neo capital

neo capital is an independent Investment Advisory and Asset Management company founded in 2015. It has unrivalled access to Ultra High Net Worth individuals globally and has $700 million of assets under management.

Rotterdam, The Netherlands

The company has several projects underway in Western Europe and the US and aims to double its AUM to $1.4 billion.

neo capital’s philosophy is to provide best in class investment advice to their clients so they can gain exposure to US and European real estate markets.


HFF Managing Director
+44 20 7317 3115

HFF Director, Public Relations
+1 (617) 338-0990

EDEN Multifamily and Ghitis Property Co. Plan Luxury Apartment Development near Daytona Beach, FL

Jay Jacobson

MIAMI, FL and PORT ORANGE, FL –– A joint venture between leading Miami-based developers EDEN Multifamily, founded by industry veterans Jay Massirman and Jay Jacobson, and Ghitis Property Company (GPC), led by former Trammel Crow Company Partner Leo Ghitis, have announced plans to build high-end apartment community EDEN Crystal Lake in Port Orange – a growing city near Daytona Beach. The development team recently received site plan approval for its intended use.

The venture intends to build 288 garden-style apartments with substantial amenities on 19.5 acres at the 1270 Reed Canal Road site. MSA Architects is the project’s architect.

Groundbreaking for EDEN Crystal Lake is expected in June 2019.

Jay Massirman
Planned community amenities include a clubhouse, resort-style swimming pool, outdoor lounge, state-of-the-art fitness center, frontage along a 38-acre lake, dog park with grooming stations and an extensive lakefront boardwalk.

The venture has secured all of the necessary capital for the development.

“It is exciting to embark on this project with Ghitis Property Company, a developer with an impeccable track record and industry reputation,” said Jacobson, president of EDEN. “Everyone involved is bullish about the location of the project site and upside of the Port Orange submarket.”

Leo Ghitis

The EDEN Crystal Lake site is located within four miles of Daytona Beach, the Daytona International Speedway, Daytona Beach International Airport and LPGA headquarters.

 It is also in close proximity to the I-95 and I-4 highways, major retail and dining, three post-secondary educational institutions and more than 72,000 healthcare industry employees.

Rendering of EDEN Crystal Lake Apartments, Port Orange, FL

“In researching Port Orange and the Daytona MSA, we saw an opportunity to accommodate the pent-up demand for brand-new, Class A apartment product,” said Ghitis, a principal at Ghitis Property Company. “We are thrilled to partner with Jay Massirman, Jay Jacobson and the team at EDEN Multifamily and look forward to a successful venture.”


Eric Kalis or Hannah Colson