Friday, August 23, 2019

Berger Commercial Realty Facilitates $3.8 Million Sale of Coral Cay Apartments Near Fort Lauderdale Beach, FL

Coral Cay Apartments is a two-story, 7,116-SF apartment building situated on a 25,000-SF lot at 701 and 709 Orton Avenue
in Fort Lauderdale, FL

Steve Hyatt
FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International Senior Vice President Steve Hyatt recently represented Colony Apartments, Inc. in the sale of Coral Cay to Contentus North Beach, LLC for $3.8 million. 

Following the closing on August 1, the 26-unit building is slated for redevelopment into a boutique beach hotel.

“For the last 50 years, Coral Cay was used as a private timeshare for a group of shareholders from the Midwest,” Hyatt said.

“The buyer was attracted to the property’s proximity to Fort Lauderdale Beach and its location in the heart of the fast-growing and trendy North Beach area, which is undergoing massive redevelopment into a contemporary seaside village with upscale condos, hotels, restaurants and retail space.”

Located at 701 and 709 Orton Ave. in Fort Lauderdale, Coral Cay is a two-story, 7,116-square-foot apartment building situated on a 25,000-square-foot lot. The property includes a pool, sun deck and large grass recreation area.

Procaccianti Companies Completes Acquisition of Two San Francisco Bay Area Lifestyle Hotels

James Procaccianti

 Providence, RI. Aug. 22, 2019 - Procaccianti Companies, the second generation privately-held real estate investment and hospitality services organization, announced that it has acquired two landmark Northern California hotels: The Lodge at Tiburon and Toll House Hotel located in Los Gatos. 

Together, the hotels comprise 228 guest rooms and suites, approximately 6,500 sf of meeting space and multiple food and beverage offerings.

Lodge at Tiburon, Los Gatos, CA
“This acquisition presented an extremely unique opportunity to acquire a collection of well- positioned assets in high-barrier-to-entry markets that are supported by their superior locations, recent capital investments, stable operating performance and a strong mix of high caliber demand drivers,” stated James Procaccianti, president and chief executive officer, Procaccianti Companies. 

“Both hotels are in highly desirable Bay Area locations and serve as the gateway to Northern California’s Napa Valley and wine country. These are irreplaceable assets with exceptional reputations for service and quality.”

The Lodge at Tiburon

Built in 1977 and renovated in 2013, The Lodge at Tiburon offers 103 guest rooms, including two spacious suites, in an unparalleled location overlooking the San Francisco Bay. Located in the affluent hamlet of Tiburon, 

The Lodge at Tiburon features signature dining at the Tiburon Tavern, 3,765 square feet of indoor meeting space, an outdoor pool, hot tub and an open air SkyDeck lounge. 

Toll House Hotel

Toll House Hotel, Los Gatos, CA
Built in 1983 and renovated in 2012, the 115-room Toll House Hotel offers a scenic location in historic Los Gatos. 

The hotel features eight spacious suites, more than 6,100 square feet of indoor and outdoor meeting and event space, the popular VERGE Restaurant & Lounge and amenities including a business center and Wi-Fi access. 

Procaccianti concluded, “The Lodge at Tiburon and Toll House Hotel are strong additions to our expanding national portfolio of high quality, boutique properties, and we feel privileged to be the new custodians of these tremendous assets.”


Ralph V. Izzi Jr.
Vice President of Public Affairs
401-946-4600  Ÿ  

Primior and Xnergy Financial Align To Provide Enhanced Services for Clients and Drive Collective Growth

Nia Stefani

DIAMOND BAR, CA – Primior, a leading real estate development and investment firm, has announced that it is acquiring an interest in investment banking firm Xnergy Financial.

The relationship between the two companies offers important advantages to each one in terms of enhanced opportunities for their clients, synergies for growth and operational efficiencies.

“We continually seek innovative strategies that enable us to serve as a unique partner for individuals, institutions, wealth advisors and other investors,” noted Johnney Zhang, CEO of Primior.

Johnney Zang

“Our partnership with Xnergy will enable us to further enhance our capabilities for providing the exceptional performance our clients expect.”

San Diego-based Xnergy offers a wide range of capabilities in the areas of mergers and acquisitions, investment banking, corporate finance, valuations, and business and financial advisory services across a broad array of industry segments.

“This new relationship with Primior is a perfect fit for both firms,” said Xnergy CEO Nia Stefani. “It will be advantageous to our respective clients in strengthening the resources we can offer them, and we look forward to the growth we expect to achieve together.”


Rachel Devany
VP Public Relations,
KCOMM for Primior

Rachel Reenders