Platinum Properties, a Keyes Family Company, Acquires Bluffs Real Estate and Investment Properties in Jupiter, FL

 

(L to R) Keyes CEO Mike Pappas, Jim Kirvin of Platinum Properties, 

Gail Lombard of Bluffs Real Estate, John Kern of Platinum Properties 

and Keyes Senior Vice President Steve Reibel

MIAMI, FL and PALM BEACH, FL  – Platinum Properties, A Keyes Family Company, has announced the acquisition of Bluffs Real Estate and Investment Properties under its Platinum Properties brand. The acquisition of the Jupiter-based firm underscores the continued growth Keyes has experienced this year.

Founded in 1985, Bluffs serves Palm Beach and Martin counties, with listings located between the Intracoastal Waterway and the waters of Jupiter and Juno Beach. Bluffs has 25 agents and generated a sales volume of $25 million in 2016. The firm’s office at 4050 South U.S. Highway 1 in Jupiter is remaining open after the Keyes acquisition.

“We are excited to welcome Bluffs into the Keyes family,” said Keyes CEO Mike Pappas. “We know that the Bluffs team is filled with dedicated professionals, and we are eager to begin working alongside their experienced sales associates. This significantly strengthens our Platinum Properties brand.”

Jupiter, FL Lighthouse

With roots in the local community, Bluffs’ agents are experienced in residential single-family homes, townhomes, condos and golf communities, as well as bank-owned and new construction properties.

Gail Lombard has been the owner of Bluffs Real Estate and Investment Properties since 2002.

The Bluffs acquisition was completed shortly after Keyes acquired the Florida offices of nationally recognized residential firm Shorewood Real Estate. Shorewood has 40 agents based in its Florida offices, which are located in Aventura and Palm Beach.

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.

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

Jasmin Curtiss

PR Coordinator, BoardroomPR

jcurtiss@boardroompr.com

O 954-370-8999

.

Hanley Investment Group Completes Sale of New Two-Tenant Retail Property in Foothill Ranch, CA for $5.7 Million

Dunkin’ Donuts/Baskin Robbins Drive-Thru and MOD Pizza at 26722 Portola Parkway,
 Foothill Ranch, CA

Bill Asher

FOOTHILL RANCH, CA - Hanley Investment Group Real Estate Advisors, a nationally-recognized real estate brokerage and advisory firm specializing in retail property sales, announced the firm completed the sale of a new two-tenant retail building occupied by Dunkin’ Donuts/Baskin Robbins Drive-Thru and MOD Pizza at 26722 Portola Parkway in Foothill Ranch, Calif.

The 4,150-square-foot pad building is part of Foothill Ranch Towne Centre, a regional shopping center in Orange County that includes major tenants Target, Hobby Lobby, Michaels, Old Navy and 99 Cents Only Stores. The sale price was $5.7 million.

Hanley Investment Group's Executive Vice President Bill Asher and President Ed Hanley represented the seller, Spectrum Development Group based in Irvine, Calif. The buyer, a private investor from Newport Beach, Calif., was represented by John Carpenter of The 949 Group in Irvine, Calif.

"It was a record sale for a retail property of its type in south Orange County," said Asher. The cap rate was not disclosed. 

"It remains challenging in today's market for investors to find quality stabilized retail investments in ‘A’ locations to purchase in Orange County," commented Asher. "Inventory for quality retail leased to top-tier internet-resistant retailers is few and far between right now." 

Ed Hanley

Asher adds, “Due to the quality of the location, tenants and new long-term leases, we generated multiple qualified offers that created a competitive bidding environment that ultimately procured a local all-cash buyer. We negotiated a two-week contingency period with a 24-day closing.”

Newly remodeled in 2016, the building sits on .89 acres at the signalized entrance to the Foothill Ranch Towne Centre that benefits from monument signage along Portola Parkway and its close proximity to the State Route 241 freeway. 

Dunkin Donuts includes a combo Baskin Robbins format that occupies 2,150 square feet (that includes a drive-thru) and MOD Pizza occupies 2,000 square feet. Both tenants have brand new 10-year initial lease terms. 

“The property has outstanding visibility and accessibility in the master planned Foothill Ranch trade area,” said Asher. “Furthermore, the Foothill Ranch Towne Centre has an excellent mix of internet-resistant tenants that cater to the daily needs of the local communities and Lake Forest’s daytime population of more than 105,000.”

Asher also notes that the shopping center benefits from the extremely affluent demographics in the area. The average household income is nearly $148,000 within a one-mile radius of the shopping center.

Foothill Ranch Towne Centre is located near the newly developed Baker Ranch master-plan community, which is made up of 11 different communities comprised of approximately 2,400 upscale homes, 430 apartment homes and 16,000 square feet of retail.

John Carpenter

Dunkin’ Donuts is a market leader in the hot regular/decaf/flavored coffee, iced coffee, donut, bagel, muffin, and hard-serve ice cream categories. Dunkin’ Donuts has more than 12,000 restaurants in 45 countries. Baskin Robbins has nearly 7,800 restaurants in approximately 50 countries.

MOD Pizza, which offers custom artisan-style pizzas, is one of America’s fastest growing chain restaurants with more than 200 locations across 20 states as well as locations in the UK.

“The market for single-tenant and quasi-single-tenant assets with drive-thrus like the Dunkin’ Donuts/Baskin Robbins and MOD Pizza in Foothill Ranch remains strong in Southern California,” said Asher. “This type of investment continues to be a retail investment of choice for passive investors, especially leased to name brand food tenants.”

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

anne@monaghanpr.com

www.hanleyinvestment.com

.

                              

Dave Pollin

PORTLAND, OR—Officials of PM Hotel Group, a leading, national hotel management company, and The Buccini/Pollin Group, a privately-held, full-service real estate acquisition, development and management company (BPG), completed the topping off of the 153-room Canopy by Hilton Portland Pearl District.  To commemorate the occasion, the hotel hosted a unique mosaic tile signing ceremony.

“The Portland Pearl District marks our second hotel flying the Canopy by Hilton flag, a brand designed to appeal to upscale business and leisure travelers who seek experiential stays in great neighborhoods with access to local food, entertainment and shopping,” said Dave Pollin, BPG co-founder. 

“We believe the hotel’s focus on comfort and design, additional included value and ‘positively yours’ service culture will resonate with Portland visitors and locals alike.”

Nestled in the Pearl District on Portland’s Gallery Row, the hotel is located at 425 NW 9th Avenue, a short distance from the Willamette River and Pioneer Courthouse Square. 

The Pearl District surrounding the hotel is comprised of repurposed, historic warehouses and cobblestone streets that have been transformed into a vibrant leisure destination with eclectic retail, dining and entertainment offerings.  Guests are invited to explore the area using one of the hotel’s complimentary rental bicycles or jump aboard a nearby Portland Streetcar. 

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

 Chris Daly, media

(703) 435-6293

 chris@dalygray.com

www.bpgroup.net.

www.pmhotelgroup.com.

www.canopybyhilton.com.

JLL completes sale of Veritas Apartments in Las Vegas

         

John Cunningham

LAS VEGAS, NV – JLL’s Capital Markets announced the company completed the sale of Veritas Apartments in the Las Vegas suburb of Henderson, Nevada. JLL represented the seller, Monogram Residential Trust. Farnam Realty, Inc. bought the 430-unit, Class A multifamily building.

Executive Vice Presidents John Cunningham and Charles Steele led the JLL team on the sale.

“Las Vegas’ apartment market continues to gain traction with investors as job growth and economic expansion remain ahead of the majority of the country,” said Cunningham. “Veritas is located within an affluent suburb that benefits from this growth, and offers residents an extremely attractive living environment.”

Veritas is located in Henderson, one of Nevada’s premier residential communities which boasts a diverse economic base that extends from healthcare to professional and business services. Residents also have access to more than 5.3 million square feet of retail space within a three-mile radius of the building, and immediate access to St. Rose Hospital.

Veritas Apartments, which was completed in 2010, offers one-, two- and three-bedroom units. The building features four swimming pools, a covered patio with an outdoor kitchen, barbecue grills, a fitness center with a yoga room, and a clubhouse with gaming room and cyber café.

Charles Steele

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, 

JLL Capital Markets completed $136 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

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

Scott Sutton        

Phone: +1 312-228-2863

Email: Scott.Sutton@am.jll.com

www.jll.com.