HFF and Colliers Abood Wood-Fay Close Sale of Retail Component of Plaza San Remo in Coral Gables, FL

MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.), in collaboration with Colliers Abood Wood-Fay (Colliers), has closed the sale of the Whole Foods-anchored Plaza San Remo (photo above) retail condominium in Coral Gables, Florida.

HFF managing director Danny Finkle, (top left photo) director Terri Echarte (middle left photo) and associate director Luis Castillo along with Colliers principal Michael Fay, (photo at right above John Crotty photo) vice president John Crotty, (photo at right above David Metalonis photo) and commercial associate David Metalonis (bottom right photo) led the investment sales team on behalf of the seller, Venera Holdings.

A German investment group advised by Phoenix Property Company of Dallas, Texas purchased the property free and clear of debt for an undisclosed price.

Completed in late 2007, Plaza San Remo is a seven-story, 180,000-square-foot mixed-use development that includes retail, medical office condominiums and a 739-space structured parking garage.

Located at 6701 Red Road, the property is across the street from Simon Property’s Shops at Sunset Place and just south of U.S. Route 1 in Coral Gables.

“Plaza San Remo is an irreplaceable project in one of the premier retail locations in South Florida with an industry leading grocery store anchor in Whole Foods. Solid fundamentals at both the property and market levels, make this an exceptional long-term investment,” said Finkle.

Venera Holdings is a Miami-based development company led by industry veterans Ford Gibson and George “Bud” Scholl.

Phoenix Property Company is a diversified real estate development and investment advisor based out of Dallas, Texas. In addition to its multifamily and mixed use development expertise, the company provides advisory services to European investors for all aspects of commercial real estate investments in the U.S.

Colliers Abood Wood-Fay is an independently owned and operated business and member firm of Colliers International Property consultants, an affiliation of independent companies with 267 offices throughout more than 55 countries worldwide.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.

CONTACTS:
Lawrie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com
Daniel P. Finkle, HFF Managing Director, 305 448 1333, dfinkle@hfflp.com