Saturday, November 27, 2021

Enchanting Oasis of TV’s ‘Black-ish’ Star Nicole Sullivan on Market at $1.45 Million

Nicole Sullivan

LOS ANGELES, LAUREL CANYON, CA -- Nicole Sullivan is best known for her acting roles in the TV series Black-ish and The King of Queens, but her charming cottage-style home in L.A.'s Laurel Canyon is a colorful example of her keen eye and romantic take on the type of environment that shows her true personality, according to TopTenRealEstateDeals.com.

 She has recently put it on the market priced at $1.45 million.

 Built in 1912 and sympathetically updated for the current century, it’s the perfect escape for total decompression after a long day’s work in the studios. 

 

Bill Maher

Hidden away up a long 100-yard drive, the cottage is nestled on almost an acre of thickly landscaped land surrounded by trees.  

 

The 1,678-square-foot home has two bedrooms and two baths surrounded by windows that bring in lots of light and beautiful outdoor views and an outdoor entertainment space. 


Loaded with character, the approach up the driveway opens slowly to a cheerful coral-colored house and picket fence lined with trees, bamboo and succulent garden above the stone retaining wall. 


Former California Gov. Jerry Brown

 

The living-dining area is in pale neutrals accented with white-beamed ceiling and a white-brick fireplace with large windows that can be shuttered from the inside, making dust-collecting drapes unnecessary. 

 

The master suite opens to a large deck while kitchen French doors and a large sunroom both open to the party-perfect patio below. 


The 1,678-square-foot home
has two bedrooms and two baths 
 

For entertaining or family get-togethers the outdoor patios are set up as a dining area closer to the kitchen French doors and a few steps away, an adjoining outdoor living room with another large-brick fireplace. 

 

All is surrounded by stone walls with foliage draping over the top and mature trees casting shadows, looking quite magical under nighttime lighting.  Nicole’s hot tub is also a welcome retreat at the end of the day.



Laurel Canyon has been drawing celebrity residents since the early days of filmdom. 


Lorena Costino

From silent film stars to talk show hosts such as Bill Maher, to rock-star musicians, former California Governor Jerry Brown, and now to a flood of up-and-coming stars, the higher up the canyon, the more spectacular the views.

 The property is listed with Lorena Costino, Compass, Los Angeles.

 

Photo credit:  Nate Williams

Source: www.compass.com

 

 

Contact:

 

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3725
Twitter:  @toptenrealestat
Facebook.com/toptenrealestat


Friday, November 26, 2021

Lynd Living Sells Margate, FL Apartment Community for $66.50 Million Just Eight Months After Purchase

David Lynd

 FORT LAUDERDALE, FL and SAN ANTONIO, TX-- Just eight months after acquiring a 280-unit garden-style apartment complex northwest of Fort Lauderdale, Lynd Living has sold the asset for $66.50 million.

That amounts to $15.50 million more than the $51.00 million price paid on March 17, 2021. 

Aqua Villa, 5750 Lakeside Drive, Margate, FL

 Lynd Living CEO David Lynd said the decision to sell now was not easy, but feels the time was right to maximize value due to the hot real estate market.  

“Values in South Florida have really skyrocketed since the pandemic due to intense in-migration from other states,” Lynd said.

“Rents have jumped by over 20% since our acquisition and we achieved our projected five-year net proceeds for investors and partners after just eight months. We always keep our investors’ goals in mind for every deal.”  


“Our signature chef’s kitchens
have become a major draw" 

The Lakes at Margate (renamed Aqua Villa) is a deal that almost didn’t happen to start with thanks to the pandemic.

 Lynd Living was originally supposed to buy the property on March 11, 2020, but its equity partner backed out and the deal became less certain.

 But Lynd persevered with the seller and was able to close nearly a year later.  This marked the first time the company used crowd-sourced equity to help fund an acquisition. 


Constantine Scurtis


“Had we given up when we lost our original partner in 2020, we would have never gotten the property and wouldn’t be where we are today,” said Constantine Scurtis, president of Lynd Acquisitions Group. 

 “As it stands, our investors are getting an incredible rate of return on their money over a much shorter time period than anyone anticipated.”

Built in 1987, Aqua Villa features one, two and three-bedroom units with wood-plank floors, custom white cabinetry and energy-efficient appliances. 

 The community has two pools, a clubhouse, a modern fitness studio and cyber-café.  Lynd spent $4 million in renovations and upgrades including the addition of chef’s kitchens to 3-bedroom units.

“Our signature chef’s kitchens have become a major draw everywhere we have put them in, Lynd said. “In Margate, we were able to increase rents by as much as $800 for these special units, thus generating a lot of additional value for the asset.”  

Hampton Beebe of Newmark was the listing agent.


Hampton Beebe 

Aqua Villa is located at 5750 Lakeside Drive, Margate, Florida, near the intersection of W. Atlantic Boulevard and N. State Road 7, just a couple of miles from Florida’s Turnpike.

In Florida, LYND has owned 6,300 units over its history and managed nearly 12,000 units. 

 It also co-developed the 390-unit luxury condominium building Nine at Mary Brickell in the mid-2000s. The company has plans to a lot more business in the region over the coming years.

 

ABOUT LYND:  

 

LYND is a privately held, national real estate firm that develops, acquires and manages multifamily real estate assets.  


Operating approximately 20,000 apartment units in 13 states, Lynd ranks as one of the premiere multifamily management companies in the country. 


 For more information, please visit www.lynd.com.

 

Contacts:

 

Todd Templin, Boardroom PR

ttemplin@boardroompr.com

954-370-8999 or 954-290-0810

 

Daniel Benjamin

Senior Account Executive, BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

Wednesday, November 24, 2021

Kleiner Law Group Represents Buyer in Purchase of Two Miami Gardens Shopping Centers for $47 Million

Marc D. Kleiner
 

  MIAMI, FL, Nov. 24, 2021 — Marc D. Kleiner of Kleiner Law Group in Miami represented One Stop Management LLC, a Brooklyn-based investment group, in the purchase of two Miami Gardens shopping centers for $47 million.

 Kleiner closed on the refinance of the shopping centers yesterday, the deal had originally closed earlier in the month.

Miami Gardens Shopping Plaza
4500-4698 Northwest 183rd Street,
Miami Gardens, FL

“We’re pleased to have closed on the purchase as well as finalized the refinance of $35 million with Bank of America,” Kleiner stated.

“These two shopping centers are well-placed for residents and demonstrate the continued interest in Miami Gardens’ commercial sector.”

 The shopping centers are Miami Gardens Shopping Plaza, located at 4500-4698 Northwest 183rd Street, and Las Villas Market Square, located at 4705-4895 Northwest 183rd Street.

 

Las Villas Market Square
4705-4895 Northwest 183rd Street
Miami Gardens, FL.

The two properties combined total 198,885 square feet. 

 Kleiner has more than 20 years of legal experience in the industrial, commercial lending and multifamily residential sectors.

In addition, he handles a variety of real estate needs for clients, including property tax valuation appeals.


Contact:

 

Yeleny Suarez Brody

EvClay Public Relations for

Kleiner Law Group

+1 (305) 261-6222

 

6161 Blue Lagoon Drive, Suite 270

Miami, FL 33126

 office  305.261.6222  

 mobile  305.200.9346

https://kleinerlawgroup.com/.

Guthrie Development Strategically Upgrades and Sells 63 Industrial Units Across Three Properties

 

Robert W. (Rob) Guthrie

ORANGE COUNTY, CA – Guthrie Development Company, a full-service commercial real estate investment and management company based in Irvine, California, has sold 63 individual units across three industrial properties in Orange County, California for a combined total of $61.5 million.

                Fullerton, CA  industrial site

“The industrial sector overall is thriving, and the Orange County market in particular has experienced skyrocketing demand in recent months,” says Rob Guthrie, President at Guthrie Development Company, noting that in Q3, absorption rates in the county were the highest they’ve been since 2004 and vacancy was 2%, matching historic lows.

“Leveraging our deep experience in executing upgrades to enhance and modernize industrial properties, as well as condominium mapping, we were able to deliver 63 high-quality units to the often underserved segment of the market seeking for-sale, smaller industrial spaces.”

Connor Bannan

The three properties include:

A 45-Unit Industrial Business Park in Fullerton

Guthrie Development is approaching the sellout of all 45 units at The Raymer Business Center, a three-building industrial business park in the North Orange County submarket of Fullerton, California, to individual owners for a total of $30 million.

Tom Terry

The firm acquired the asset in January 2021 for $20 million. During ownership, Guthrie Development implemented capital expenditures to the buildings and common areas.

“At acquisition, this well-located asset was leased to multiple tenants on short-term leases with condominium mapping already in place,” says Connor Bannan, Project Manager at Guthrie Development. 

“This allowed us to be able to quickly execute our business plan of implementing strategic upgrades and selling each unit individually as they were vacated.”

Brenden Hefner
The property is located at 2003-2007 Raymer Avenue in Fullerton, California. Tom Terry and Brenden Hefner with Voit Real Estate Services represented Guthrie Development as the seller.

A 12-Unit Industrial Property in Costa Mesa

           Guthrie Development recently sold all 12 individual units located at a 24,877 square-foot industrial property in Costa Mesa, California for a combined total of $12.5 million. 

 Steve Wagner
According to Bannan, the firm performed significant capital upgrades to the building, processed entitlements, and recorded a condominium map on the building.

“We immediately recognized the value-add potential of the asset and strength of its exceptional location near the 405 Freeway,” says Guthrie.

“After acquiring as a multi-tenant industrial property last year for $6.5 million, we performed a complete renovation of the asset that included the installation of a new roof, upgraded landscaping, and new interiors, among other improvements.

Xavier Nolasco
"The quality of the market coupled with the location of the asset made this very attractive to potential buyers.”

The property is located at 1375 Logan Avenue in Costa Mesa, California. Steve Wagner, Zach Niles, Xavier Nolasco, and Brendan Brady with JLL represented Guthrie Development as the seller.

Building of Six Newly Divided Industrial Condominiums in Irvine

           Guthrie Development sold six individual units at a 47,212 square-foot industrial asset in Irvine, California for a combined total of $19 million.

Brendan Brady
“We strategically identified an opportunity to acquire this property as a single-tenant building for $9.8 million and convert it into six condominium spaces,” says Bannan.

“Through renovating and modernizing the property, we were able to further enhance the value of the asset and attract a strong pool of buyers.”

The renovation included series of capital upgrades to the property, including new HVAC systems, restrooms, roof membrane, building façade, and window system.

The property is well-located within the highly desirable Irvine Spectrum submarket at 18-38 Thomas in Irvine, California.

Chris Bates and Jeff Carr with CBRE represented Guthrie Development as the seller.

About Guthrie Development Company

 Guthrie Development Company (“GDC”), based in Irvine, CA, is a privately held, fully integrated real estate company specializing in the acquisition, development and/or rehab, management and disposition of commercial/industrial properties, primarily in the Southern California region. 

                Costa Mesa, CA industrial site

GDC principals and associates have extensive industry experience covering a diverse array of services including development, rehabilitation, entitlement, construction management, asset management, property and association management, sales, and finance and accounting.

 GDC was founded in March 2000 by Robert Guthrie, who has over 30 years of experience in the field of commercial real estate and is responsible for the strategic vision and goals of the company. 

Between 2000 and 2007, GDC developed and/or acquired and sold over 2 million square feet of industrial property worth approximately $350MM. 

Irvine, CA industrial site

GDC has an excellent reputation in its market segment, including its performance on behalf of the company’s capital partners during the latest market downturn.

 GDC also has an affiliated asset and property management company, Guthrie Asset Management Company (“GAM”), which manages all of the related GDC projects and commercial owners associations. 

 For additional company information, please visit our website at https://guthriedevelopment.com/.


Contacts:

 

Katie Haga / Lexi Astfalk

Brower Group

(949) 438-6262

khaga@brower-group.com