Wednesday, October 12, 2011

NAI Realvest Negotiates New Office Lease at Wekiva Center in Apopka

 MAITLAND, Fla. --- NAI Realvest recently completed a new lease for 1,600 square feet of office space at Wekiva Center, 1706 E. Semoran Boulevard near the intersection of U.S. 441 in Apopka.

 Tom R. Kelley II, CCIM (top right photo), principal at NAI Realvest, brokered the transaction on behalf of the landlord, Wekiva Center Partnership based in Maitland.  The tenant is CNV Communications LLC, a professional digital integration company. 

NAI Realvest signs up the Nemours Foundation with more office space at La Vina Marketplace at Lake Nona

 MAITLAND, Fla. --- NAI Realvest recently negotiated a lease expansion agreement with The Nemours Foundation for three suites totaling 6,236 square feet of office at 9161 Narcoossee Rd. (Building B) at La Vina Marketplace in Lake Nona in southeast Orlando.

Senior Associate Mary Frances West, CCIM (middle left photo) negotiated the transaction representing the landlord, Orlando-based Ripley’s International LLC.

 The tenant already occupies 24,460 square feet at La Vina Marketplace in Building A, which is 9141 S. Narcoossee Rd.

 The lease expansion brings its total leased space to 30,696 square feet at the La Vina Marketplace.   

 Mickey Hage of Mickey Hage, Inc. represented The Nemours Foundation in the transaction.

NAI Realvest Negotiates Renewal Agreement at The Citadel III in Southeast Orlando

ORLANDO, Fla. – NAI Realvest recently completed a lease renewal agreement for 1,058 square feet of office space in Suite 515 at The Citadel III located at 5950 Hazeltine National Drive in Southeast Orlando.

 The NAI Realvest leasing team of Senior Associate Mary Frances West, CCIM, Matt Cichocki and Kevin O’Connor principals at NAI Realvest, negotiated the transaction representing the landlord, Citadel Partners, LTD based in The Villages, Fla.

 The tenant, Cottingham & Butler Limited, who has been a tenant in the Citadel since 2007, is a leading risk management and employee benefits broker.

 The West, Cichocki and O’Connor team has completed multiple new leases and renewals at Citadel III this year. 

Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989
Patrick Mahoney, President NAI Realvest, 407-875-9989
Tom R. Kelley CCIM, Principal, NAI Realvest, 407-875-9989
Kevin O’Connor or Matt Cichocki, NAI Realvest, 407-875-9989, or
Beth Payan, Larry Vershel Communications, 407-644-4142

Hendricks & Partners Negotiates sale of 68-unit Windward Apartment Property in East Orlando, FL


 ORLANDO, FL --- Hendricks & Partners, the nation’s largest multi-family property advisory group, recently negotiated the sale of the 68-unit Windward Apartments (top left photo) property at 1744 Bowen Drive in East Orlando for $1,600,000.

 Cole Whitaker, Southeast partner for the firm and Hal Warren, associate partner, negotiated the sale representing the seller.  Nashville based Robbins Property Group acquired the property which was constructed in 1972.

 For more information, contact:  
 Cole Whitaker, Southeast Partner, Hendricks & Partners, 407-218-8880,;
Hal Warren, Associate Partner, Hendricks & Partners, 407-218-8881,
Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142,  

Cuhaci & Peterson Architects Awarded Contracts to Design New Winn Dixie in Islamorada in Florida Keys

ORLANDO, Fla. --- Cuhaci & Peterson Architects LLC, based in Orlando’s Baldwin Park, was recently awarded a contract to design a new Winn-Dixie supermarket in Islamorada in the Florida Keys.

The supermarket will be located at 81001 Overseas Highway on Upper Matecumbe Key. 

Lonnie Peterson, chairman at Cuhaci & Peterson said the design project will result in 22,000 square feet of supermarket space.

For more information, contact:  
Cuhaci & Peterson Architects Named to Design Remodeling for Sweet Bay Grocery Store in St. Petersburg, FL

 ORLANDO, Fla. --- Cuhaci & Peterson Architects, LLC was recently awarded a contract to design a major remodeling project for Sweet Bay Grocery store on 4th Street North in St. Petersburg. 

 Lonnie Peterson, chairman of the Baldwin Park architectural firm, said the Sweet Bay remodel involves 48,000 square feet of grocery space.

Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  
Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  
Larry Vershel or Beth Payan, Larry Vershel Communications, Inc. 407-644-4142,  

Two Southeastern Student Housing Assets Command $39 Million

 ORLANDO, FL, Oct. 12, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of two student housing communities for $39 million.

 Eagle’s Trail Apartments (top left photo) a 216-unit property in Hattiesburg, Miss., sold for $20 million, which represents $25,253 per bed and $69 per square foot.

University Crossing  in Ruston, La., a 144-unit community, commanded $19 million, which equates to $34,420 per bed and $96 per square foot.

Ray Turchi, a senior associate in Marcus & Millichap’s Orlando office, represented the seller of both properties, Ken Dixon, a private investor. Gregory Wilson, an associate in the firm’s Orlando, procured the buyer, a large student housing REIT.

Brent Yurtkuran (middle left photo) of Marcus & Millichap’s Jackson, Miss., office is the firm’s broker of record in Mississippi.

University Crossing was also represented by Turchi. Wilson procured the buyer, a private investment group. William Hoffpauir, of Marcus & Millichap’s Lafayette, La., office, also provided representation.

 “Ray Turchi negotiated and navigated both deals with the highest standard of broker excellence,” says Dixon.

“Eagle’s Trail Apartments is located one mile from the University of Southern Mississippi (USM) (bottom right photo),” says Turchi. “USM has a 2010-2011 enrollment of approximately 17,000 students and does not require freshman to live on campus. The school provides on-campus housing for less than one-third of its students,” continues Turchi.

 Built in 2007, the 792-room, 288,325-square foot Eagle’s Trail Apartments is located at 8 Eagle’s Trail in Hattiesburg, Miss. Students travel to the campus on “The Trail,” a paved bike and pedestrian path adjacent to the property that leads directly to the university.

Eagle’s Trail is composed of 16 stone-veneered three-story buildings featuring 180 four-bedroom/four-bath units and 36 two-bedroom/two-bath apartments. The units are leased by the bedroom. High-speed Internet, basic cable and utilities are included in the rent.

The 552-bed, 198,276-square foot University Crossing is situated across the street from Louisiana Tech University at 1201 West California Ave. in Ruston, La. The complex is comprised of 12 stone-veneered buildings- 11 three-story apartments and a clubhouse.

The unit mix is 132 four-bedroom/four-bath units and 12 two-bedroom/two-bath apartments. The units are leased by the bedroom and feature high-speed Internet and cable television with HBO.

University Crossing is located across the street from Louisiana Tech University and is 92 percent occupied.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Edens & Avant Announces Refinancing of Unsecured Revolving Credit Facilities


COLUMBIA, SC  /PRNewswire/ -- Edens & Avant, one of the nation's leading retail real estate owners and development companies, announced today it has closed on the refinancing of its $350 million unsecured revolving credit facility (the "Facility") and $30 million unsecured working capital line ("Working Capital Line"). 

The Facility and the Working Capital Line will both mature in September 2014, but include two, one-year extensions at the Company's option that could extend both facilities through September 2016.

For the Facility, Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as Joint Lead Arrangers and Joint Bookrunners.  Wells Fargo Bank, National Association is the Administrative Agent.  Bank of America, N.A. is the Syndication Agent.  PNC Bank and Branch Banking & Trust Company are co-Documentation Agents.  Capital One, Deutsche Bank, Regions Bank and U.S. Bank are Senior Managing Agents and Synovus Bank is a Participant. 

"Edens & Avant remains committed to preserving a conservative, flexible balance sheet that enables us to focus on operations and strategic, community focused investment opportunities," said Mark Garside (top right photo), Managing Director of Edens & Avant.   "The closing of these facilities advances our balance sheet strategy while lowering our overall cost of capital.  We appreciate the deep relationships we have with our bank group and their commitment to our company."

For additional information about the Company and its retail real estate portfolio, please visit  Or follow on Twitter @EdensandAvant.

Contact:  Robbie Robertson, Communications Director, Edens & Avant, +1-803-744-2446,

Grubb & Ellis Landauer Recruits National Senior Housing and Healthcare Specialty Practice

 SANTA ANA, CA – Grubb & Ellis Landauer Valuation Advisory Services today announced the creation of a Senior Housing and Healthcare Valuation Practice, based in the company’s Sarasota, Fla., office.

 Under the leadership of Craig Smith, managing director, and a team of real estate consulting and valuation professionals will focus on the senior housing and healthcare industries. 

These include: continuing care retirement communities, assisted living facilities and rental retirement campuses, as well as acute care/critical access hospitals, residential treatment programs, ambulatory surgery centers and other specialty medical practice and treatment centers.

Smith and key team members Justin Butler, associate appraiser, and William Bastian, senior appraiser, combine to provide more than 50 years of experience in this specialty category.  Their involvement in more than 4,500 healthcare and senior housing projects has spawned broad exposure and deep relationships few can match in the industry.

“Structural changes in both the senior housing and healthcare sectors are driving the growing need for advisory and valuation services,” said Eduardo Alegre, , executive anaging director of Grubb & Ellis Landauer.  “The new practice provides synergies and the opportunity to collaborate with Grubb & Ellis’ Senior Housing practice group and Healthcare Properties Group, with growth opportunities not as constrained by economic cycles.”

Grubb & Ellis Landauer Valuation Advisory Services was established in 2010 to help the company expand into complementary businesses that are necessary to provide comprehensive commercial real estate solutions to its growing client base.  The company now has a presence in more than 35 markets in 19 states and Washington D.C. 

 To learn more about Grubb & Ellis Landauer’s capabilities,

 Contact: Julia McCartney, Phone: 714.975.2230

$100 Million Seniors Housing Portfolio Sale Closes in California

NEWPORT BEACH, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of three multifamily properties in California.

Village on the Green Apartments (top left photo), a 264-unit property in Rancho Cucamonga, sold for $43 million, which represents $162,264 per unit.

Buena Vida at Towne Center (middle right photo)in Rancho Santa Margarita, a 115-unit property, traded for $21.5 million or $186,957 per unit.

Oak View of Sonoma Hills (middle left photo) a 207-unit a property in Rohnert Park, traded for $35.5 million, which represents $170,673 per unit.

The properties were sold by Kisco Senior Living and purchased by Clarion Partners. The Clarion Partners acquisition team was led by Richard Pink and Khalid Rashid. The lead Marcus & Millichap agent was John L. Nguyen (lower right photo), a vice president investments in the firm’s Newport Beach office.

Alexander Garcia, Jr., a senior vice president investments in the firm’s Ontario office, and Brad Pennington (bottom left photo), a first vice president investments in San Francisco, also provided representation.

“These properties feature amenities designed for individuals with active lifestyles, including on-site state-of-the-art gyms, in-house theater-style projection rooms and weekly activities,” says Nguyen. “They are truly the ‘best in class’ and have performed very well during the recession with little to no rent compression.”

Village on the Green Apartments is at 9400 Fairway View Place in Rancho Cucamonga, which is in San Bernardino County.

 The property is surrounded by the fairways of Empire Lakes Golf Course and is within close proximity of the Victoria Gardens Mall, the Ontario Convention Center and the James L. Bruite Senior Center.

The Ontario Mills shopping mall and the Citizen’s Bank Arena are within walking distance. The 55-plus apartment community features a 9,000-square foot clubhouse and wellness center, a resort-style pool and spa, a fitness center, picnic area, library, game room and a business center. Each unit has central air conditioning and heating, full-size stackable washer and dryer, refrigerator, microwave and private patio and balcony.

Buena Vida at Town Center is a resort-style apartment community for active adults located at 30824 La Miranda in Rancho Santa Margarita in southeastern Orange County. Rancho Santa Margarita is a master-planned community that provides residents with city amenities in a small-town setting.

Community amenities at Buena Vida at Town Center include controlled access, full covered parking, a business center, clubhouse, swimming pool and spa and six onsite laundry facilities. Units feature above-standard ceiling height, central heating and air conditioning and fully appointed kitchens.

Located at 1350 Oak View Circle in Rohnert Park, Oak View of Sonoma Hills is the premier luxury rental community for active seniors in Sonoma County. The four three-story buildings are of stylish Craftsman-style architecture and are built around beautifully maintained grounds with superbly appointed apartment homes that have been designed specifically for residents age 55 and better.

The focal point of the community is a 9,000-square foot clubhouse and wellness center that offers residents a resort pool and spa, fitness center, movie theater, library and business center, gourmet kitchen and lounge, arts and crafts room, covered porch with outdoor fireplace, outdoor gas barbecue and on-site salon and spa.

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716