Del Webb’s $300,000 Interior Clubhouse Remodeling Unveiled in Ocala, FL

Kelli Bailey Cuts Ribbon at Reunion Center Clubhouse
 Ocala, FL

Ocala, L. – Kelli Bailey, Director of Sales for Del Webb, recently cut the ribbon and unveiled to nearly 200 guests the newly refreshed Reunion Center Clubhouse within the Reflection Bay amenity center at Del Webb Stone Creek located south of SR 40 and West of I-75 in Ocala.

Del Webb invested close to $300,000 in the improvements that took into consideration feedback from homeowners and comparison to newer age designs in the market.

 The interior improvements include new carpet and tile throughout; new paint; new window treatments in the Wall Street Room, Arts & Crafts Room, Café /Bar; and Ballroom; upgraded Library; a café addition to serve a menu from the Stone Creek Grille outside of the community gates; new integrated computers, new TVs with DirecTV programming and all new furniture.

Cafe and Bar at Reunion Center Clubhouse

“We are happy to have been able to improve the Reunion Center Clubhouse for the benefit of all here at Del Webb Stone Creek,” said Bailey.

Del Webb Stone Creek is located at 6320 SW 89th Court Rd., Ocala, FL and model homes are open daily for viewing.  

For more information please visit www.delwebb.com/Stonecreek

Del Webb is a national brand of PulteGroup, Inc. (NYSE: PHM).  Del Webb is the pioneer in active adult communities and America’s leading builder of new homes targeted to pre-retirement and retiring boomers. 

Wall Street Room and Library
at Reunion Center Clubhouse

Del Webb builds consumer inspired homes and communities for active adults ages 55+ who want to continue to explore, grow and learn, socially, physically and intellectually as they look forward to retirement.  

For more information on Del Webb, visit www.delwebb.com. 

PulteGroup, Inc. (NYSE: PHM), based in Bloomfield Hills, Mich., is one of America’s largest homebuilding companies with operations in approximately 55 markets throughout the country. 

  

For more information about PulteGroup, Inc. and PulteGroup brands, go to

www.pultegroupinc.com;

 www.pulte.com;

 www.centex.com;

www.delwebb.com.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-461-3780 or 407-644-4142; lvershelco@aol.com

American Realty Advisors Sells Two Multifamily Properties in Austin, TX

ALARA Canyon Creek Apartments, Austin, TX

  

Austin, TX – American Realty Advisors, an institutional real estate investment manager with over $7.3 billion in assets under management, has sold two Class A multifamily apartment communities in Austin, TX.

Martha Shelley

The two properties, known as ALARA Cantebrea Crossing and ALARA Canyon Creek, featured a total of 732 units, and were packaged as a single portfolio. Both properties are low density residential communities located along FM 620 North in Austin’s Northwest submarket.

 “Investor demand for high-quality multifamily product in Austin remains very strong,” says Martha Shelley, a Senior Portfolio Manager at American Realty Advisors. 

She noted that the assets’ proximity to Lake Travis, good schools, and strong employment hubs in the technology, medical, and education fields helped drive investor interest for the two properties.

American had acquired ALARA Cantebrea Crossing in 2006 and ALARA Canyon Creek in 2007.  

“Limited comparable supply in the nearby vicinity, the highly desirable area, and the recent renovations of the clubhouses and unit interiors were several of the factors that made these properties attractive to institutional buyers”, continued Shelley.

At the time of the sale, due to strict development restrictions in the area, both properties were the only multifamily luxury rental complexes within a two-mile radius.  The portfolio was 95% occupied at the time of sale.  CBRE represented ownership in the sale.

With over $7.3 billion in assets under management, American Realty Advisors is an investment manager to institutional investors, and has provided real estate investment management services for over 27 years utilizing core and value-added commingled funds and separate accounts.

American acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties.

More information regarding American can be found at www.americanreal.com.

For a complete copy of the company’s news release, please contact:

Media Contacts:

Lexi Astfalk / Jenn Quader

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

George Smith Partners Secures $30 Million in Financing for Development in Rapidly Growing Hollywood, CA Neighborhood

Malcolm Davies

            LOS ANGELES, CA  – Commercial real estate investment banking firm George Smith Partners has successfully secured $30 million in bridge financing for 3.48 acres of fully entitled multifamily development land and a 68,834 square-foot office building in Hollywood, California. 

 Financing was arranged by George Smith Partners’ Principal Malcolm Davies, as well as Kyle Henrickson and Teddy Stutz on behalf of a local Los Angeles developer.

            Davies notes that the site is within one half mile of the Netflix Southern California headquarters, and is situated across from a Super Target that is currently under construction.

“Phase I of the business plan is to finish cap ex, tenant improvements, construction of a parking garage on the adjacent lot.  Phase II of the business plan is to develop two seven-story multifamily buildings on the remaining land,” Davies notes.

“This is a unique project in a rapidly growing neighborhood,” says Davies. “There is a migration underway in Hollywood as companies move East, past the 101 freeway. This planned project will capitalize on the demand that is rising from this movement.”

Kyle Henrickson

Davies explains, “The site is located in one of the strongest office markets in the nation, and is two blocks from the Redline train with easy access to the 101 freeway. 

"These elements make the proposed multifamily project highly desirable for employees in the technology and creative industries, two sectors that are expanding at astonishing rates.”

            “The in-place office lease and continued strength of the multifamily market allowed for the development of the parking garage, which will serve both the office building and the future multifamily project,” says Davies.  

“Ultimately, we were able to identify a lender that recognized the potential in the growing neighborhood and in this future project, ultimately securing the financing our client needed.”

For a complete copy of the company’s news release, please contact:

Jenn Quader / Miki Conant

Brower, Miller & Cole

(949) 955-7940

mconant@browermillercole.com