Sunday, May 26, 2019

Marcus & Millichap Handles $10.7 Million Sale of 90-Unit Serenity Creek Apartments in St. Petersburg, FL


90-Unit Serenity Creek Apartments, 4201 49th Street North,
 St. Petersburg, FL

ST PETERSBURG, 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 Serenity Creek, a 90-unit apartment property located in St. Petersburg, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $10,725,000.


Casey Babb
Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer was also secured and represented by the three brokers.

 “This asset was truly turn-key and was generating average rents of approximately $1,200 per month at the time of sale,” said Rupp. 

 “Our marketing campaign generated 12 written offers and the deal closed in less than 60 days from contract execution without re-trade,” added Babb.

Serenity Creek is located at 4201 49th Street North in St Petersburg, Fla.



Luis Baez
 Built in the 1980s, Serenity Creek received a major rehab in 2007 and, over the past 18-months, the current ownership has invested another $2 million into the asset enhancing units, property exteriors and common area amenities.

The property consists of 3.19 acres featuring a mix of mature and new landscaping and resident amenities including a sparkling swimming pool with sundeck, multiple outdoor lounge areas with fire pits and barbecue grilling areas.

 Also, a central clubhouse, mail kiosk and leasing center and a large on-site laundry center. Units are a mix of one-bedroom/one-bath, two-bedroom/one-bath and two-bedroom/two-bath and are housed in seven two-story, concrete block buildings with exterior breezeways and pitched shingle roofs.



Shawn Rupp
Roughly one-third of the units (33 of 90) were recently rehabbed to condo grade with all new vinyl plank flooring, raised panel interior doors, kitchens, baths and light/fan/window blind fixtures.

Kitchens feature new custom white shaker style cabinets, counter tops, appliances, dishwashers and/or in-unit clothes washer/dryers and bathrooms feature the same cabinet/counter tops and new tile tub surrounds.

Another 55 units have been renovated with similar finishes throughout but with older style cabinets.




About Marcus & Millichap (NYSE: MMI)

Grant Fitzgerald
With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services.

Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. 

Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.



To learn more, please visit: www.MarcusMillichap.com.



CONTACTS: 

Grant Fitzgerald
Sales Manager, Tampa
(813) 387-4700


Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax
whitney.davis@marcusmillichap.com


Marcus & Millichap Brokers $1.4 Million Sale of 16-Unit Cape Coral Apartments in Cape Coral, FL



16-unit Cape Coral Apartments, 827 SE 46th Lane, Cape Coral, FL

Adam Podbelski
 CAPE CORAL, 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 Cape Coral Apartments, a 16-unit apartment property located in Cape Coral, FL, according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $1,437,500.

 Adam Podbelski, Ned Roberts, CCIM and Jason Hague, investment specialists in Marcus & Millichap’s Tampa office, 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 the three brokers.

Ned Roberts
“The strength of our marketing campaign allowed us to generate nine offers and close with a very well qualified, California-based buyer,” says Podbelski.  “Overall, this was very much a win-win for both parties.”

Cape Coral Apartments is located at 827 SE 46th Lane in Cape Coral, Fla. The community is three blocks north of Cape Coral Parkway and within walking distance of the Central Shopping District.

This lushly-landscaped property has direct frontage to a gulf-access waterfront canal, offering a unique resort-style environment for residents.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services.

Jason Hague
Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion.

Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.


To learn more, please visit: www.MarcusMillichap.com.




CONTACTS: 

Grant Fitzgerald
Sales Manager, Tampa
(813) 387-4700

Whitney Davis
Marketing Coordinator
Marcus & Millichap
201 North Franklin St.
Suite 1100
Tampa, FL 33602
(813) 387-4700 main
(813) 387-4743 direct
(813) 387-4710 fax
whitney.davis@marcusmillichap.com



NAI Realvest Brokered Three New Long Term Leases for Goldenrod and Monroe CommerCenters in Central Florida

 
Mary Frances West

Michael Heidrich
ORLANDO, FL – NAI Realvest recently completed three long term leases for 4,000 square feet of industrial space at Monroe CommerCenter South in Sanford and 8,742 square feet at Goldenrod CommerCenter.

Winter Park Cheer Athletics, LLC leased 6,536 square feet at Goldenrod CommerCenter, 1468 N. Goldenrod Rd. Michael Heidrich and Tom R Kelley, CCIM principals at NAI Realvest brokered the transaction on behalf of the landlord and the tenant who relocated within the industrial park. 


Heidrich also brokered a lease representing the landlord for 2,206 square feet at Goldenrod CommerCenter.  Space Design + Production, LLC, an exhibition and event company is the new tenant.

Tom R. Kelley
Heidrich and Vice President Mary Frances West, CCIM, brokered a lease for the Daytona Beach landlord CWP Monroe Investors, LLC and Ocala North Partnership LLC as Tenants in Common at 627 Progress Way in Monroe CommerCenter South. 

 The new tenant who leased 4,000 square feet is Foldnslide Systems, LLC a sliding door company based in England .   They relocated their central Florida operation from DeBary to Sanford .

About NAI Realvest 

NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

Monroe CommerCenter, Sanford, FL

NAI Global is an international commercial real estate network with over 400 offices spanning the globe. Since 1978, clients have built businesses on the power of NAI Global’s expanding network. 

Goldenrod CommerCenter, Orlando, FL
Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services.

 To learn more, please visit www.NAIRealvest.com.

CONTACTS: 

Michael Heidrich, Principal, NAI Realvest,
407-875-9989 mheidrich@realvest.com

Tom R. Kelley, CCIM, Principal, NAI Realvest,
407-875-9989 tkelley@realvest.com

Mary Frances West, CCIM, Vice President, NAI Realvest
407-875-9989 MWest@realvest.com
Patrick Mahoney, President/CEO NAI Realvest,
407-875-9989 PMahoney@realvest.com

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

HFFS advises on $1.25 billion sale of 55-building national medical office portfolio


Steve Hentschel
NEW YORK, NY –– HFF Securities, L.P. (HFFS) and Holliday Fenoglio Fowler, L.P. (HFF) announced today that they have advised CNL Healthcare Properties, Inc. on its $1.25 billion sale to Welltower Inc. of a Class A medical office portfolio totaling 55 buildings across 16 states.

HFFS was engaged in 2018 to act as a strategic financial advisor in exploring and executing potential liquidity alternatives for CNL Healthcare Properties.

The medical office portfolio comprises approximately 3.3 million square feet across 16 states, positioned in strategic locations within major metropolitan markets.

The facilities are affiliated with some of the nation’s premier health systems, including Novant, Memorial Hermann and Cleveland Clinic. 

Ted Flagg
In April, HFFS advised on the sale of four Inpatient Rehabilitation Facilities (IRFs) for a total of $94 million, also on behalf of CNL Healthcare Properties Inc.  Global Medical REIT Inc. was the buyer.

The HFFS team representing CNL was led by senior managing directors Steve Hentschel and Ted Flagg as well as members of HFF’s national medical office capital markets team, including managing directors Evan Kovac and Ben Appel and directors Andrew Milne, Zach Drozda and Anthony Frogameni.

“This is the second largest medical office portfolio sale to ever transact based on total dollar volume,” said Milne.  “The high-quality portfolio primarily consists of properties positioned in major markets and on campuses of leading U.S. healthcare systems.”

Evan Kovac
“The CNL engagement demonstrates the broad strength of HFF’s platform across REIT investment banking and medical office/seniors housing capital markets advisory platforms,” added Flagg.  “We are proud to bring this all together with a great client such as CNL.”

About CNL Healthcare Properties 

CNL Healthcare Properties, Inc., is a real estate investment trust (REIT) that focuses on investing in institutional quality properties in the seniors housing and healthcare sectors, including stabilized, value-add and ground-up development assets, as well as other income-producing properties, real-estate related securities and loans. 

 CNL Financial Group, LLC is the sponsor of CNL Healthcare Properties. 

Ben Appel



 For more information, please visit http://www.cnlhealthcareproperties.com.

About CNL Financial Group 

CNL Financial Group (CNL) is a private investment management firm providing real estate and alternative investments.  Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than
$34 billion in assets. CNL is headquartered in Orlando, Florida

For more information, please visit https://www.cnl.com.


Andrew Milne
About Welltower 

Welltower Inc. (NYSE: 
WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. 

The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. 

Welltower™, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. 

Zack Drozda

 More information is available at welltower.com

Welltower routinely posts important information on its website at welltower.com in the "Investors" section, including corporate and investor presentations and financial information. 

The firm intends to use its website as a means of disclosing material, non-public information and for complying with its disclosure obligations under Regulation FD. Such disclosures will be included on its website under the heading "Investors." 


Anthony Frogameni
Accordingly, investors should monitor such portion of the company's website in addition to following company press releases, public conference calls and filings with the Securities and Exchange Commission. 

The information on Welltower’s website is not incorporated by reference in this press release, and the web address is included as an inactive textual reference only.


CONTACTS: 

TED FLAGG
HFFS Senior Managing Director
(212) 336-5482

EVAN KOVAC
HFF Managing Director
(
206) 576-0050

KRISTEN MURPHY
HFF Director, 
Public Relations
(617) 338-0990
krmurphy@hfflp.com

HFF arranges $18 million refinancing for Aloft hotel in downtown Orlando, FL


Aloft Orlando Downtown, a 118-room, select-service, Aloft-branded hotel  at 500 South Orange Avenue, in downtown Orlando, FL

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has arranged an $18 million refinancing for Aloft Orlando Downtown, a 118-room, select-service, Aloft-branded hotel in downtown Orlando, Florida.

HFF worked on behalf of the borrower, GDC Properties, to place the five-year, non-recourse, floating-rate loan with a national bank.  Loan proceeds will be used to retire existing debt as well as reinvest in the hotel.   

Gregg Shapiro
GDC Properties acquired the historic Orlando Utilities Commission office building and converted it from an eight-story office building into the Aloft Orlando Downtown, which opened in late 2013.

  The hotel, which has achieved LEED Gold certification, features the Re:Charge gym, Splash outdoor pool, lobby workstation, nearly 9,000 square feet of meeting space and two food and beverage offerings, including the WXYZ bar and Re:Fuel by Aloft grab-and-go food outlet.

  Located at 500 South Orange Avenue, the hotel is across the street from the Dr. Phillips Center for Performing Arts and proximate to more than 10 million square feet of central business district office space. 

Additionally, the hotel is within walking distance to some of Orlando’s most popular restaurants and night life along with a short drive or SunRail ride to popular Orlando destinations.

Michael Weinberg
The HFF debt placement team representing the owner was led by managing director Gregg Shapiro and senior managing director Michael Weinberg.

“The Aloft Orlando Hotel represents an exceptional example of adaptive reuse that has resulted in a high-performance property,” Shapiro said.  “We are thankful for the opportunity to work on the refinancing and enable GDC Properties to extend their ownership period.”

HFF’s knowledge of and experience in selling and sourcing financing for downtown Orlando hotels is extensive and includes the Embassy Suites by Hilton Orlando Downtown, Grand Bohemian Hotel Orlando and Crowne Plaza Orlando-Downtown.

About GDC Properties

GDC Properties was founded in 1994 by Samuel Ginsburg to specialize in the development, management and acquisition of residential and commercial income properties. 

Samuel Ginsburg
 GDC Properties traces its roots to the founding of Ginsburg Development Corporation by Samuel and Martin Ginsburg in 1964.  Today, GDC Properties owns and manages a diverse portfolio of retail, multifamily, mixed-use and hotel properties.


CONTACTS: 

GREGG SHAPIRO
HFF Managing Director
(404) 942-2208
Martin Ginsburg
gshapiro@hfflp.com

MICHAEL WEINBERG
FL Lic. # SL3133790
HFF Senior Managing Director
(407) 745-3914

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420