Done Deals: Sep 24, 2018

Monday, September 24, 2018

NAI Realvest Closes on New Multi-Year Leases at Two West Orlando Retail Plazas

Westside Plaza , 6210 West Colonial Drive, Orlando, FL

ORLANDO, FL and PINE HILS, FL– NAI Realvest recently completed multi-year lease agreements at two retail plazas in West Orlando’s Pine Hills area where new tenants – a family medical practice is scheduled to open later this year and a personal fitness training facility will be opening in October.

Jacqueline Pace

At Westside Plaza , 6210 W. Colonial Drive, Jacqueline Pace, associate at NAI Realvest, represented Landlord Hudson Equities Management Corp. of Jersey City , N.J. in the lease of 3,200 square feet in suite 100 .

The new tenant, Orlando Family Medical Inc. is opening its fourth greater Orlando location at the 72,055 square foot highly visible retail center anchored by long-time national tenant Pep Boys Automotive.

Hiawassee Plaza, 6897 West Colonial Drive,
Orlando, FL

Dave Van Wormer of Van Wormer Realty represented the tenant.

Pace also negotiated a new lease of 1.619 square feet at Hiawassee Plaza, 6897 W. Colonial Drive, representing the tenant Cortiz Fitness LLC. This location is the first for the personal fitness trainer known for children’s fitness programs and its affiliation with public schools.

Cortiz expects to grow and expand within the next three years. North Miami-based New Orlando Team Corp. is the landlord at the 57,506 square foot retail centered anchored by WellCare.

CONTACTS:

Jacqueline Pace, Associate, NAI Realvest, 407-875-9989 JPace@realvest.com

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director,

NAI Realvest, 407-875-9989 Rwebb@realvest.com

Beth Payan, Larry Vershel Communications,

407-644-4142 lversehlco@aol.com

www.nairealvest.com.

Illustrated Properties Bolsters Luxury Real Estate Sector by Partnering with Linda Bright

Linda Bright

PALM BEACH, FL, Sept. 24, 2018 – Illustrated Properties has expanded its luxury real estate division by partnering with top producer and premier luxury specialist Linda Bright, who brings more than 25 years of experience selling luxury residences in the Palm Beaches and New York.

Bright has been named one of the nation’s top real estate professionals by REAL Trends, a publication promoted by the Wall Street Journal.

She specializes in luxury real estate in the Palm Beaches with a focus on the Country Club at Mirasol, Old Palm, The Bear’s Club, BallenIsles and neighboring luxury communities.

Mike Pappas

The individuals that Bright represents include high-profile clients seeking confidentiality, privacy, exceptional service and results, such as actors and athletes.

Currently, Bright is exclusively marketing over $30 million in ultra-luxury properties in premier communities in the Palm Beaches.

Before partnering with Illustrated Properties, Bright established herself as a top luxury real estate specialist in the Palm Beaches with The Fite Group and Mirasol Realty.

Linda Bright’s vast experience as a seasoned professional includes serving as the Sales, Marketing and Business Development Director of a luxury residential community in New York for more than a decade. She’s also held sales and marketing positions with corporate leaders such as Johnson & Johnson and Wang Laboratories.

“We are thrilled to continue Illustrated Properties’ aggressive growth in the Palm Beaches with the affiliation of Linda Bright,” said Mike Pappas, CEO of Illustrated Properties. “Linda masterfully combines her strong sales and marketing background, ability to connect with people, dedication and market knowledge to provide unparalleled results for her clients.

We know Linda’s success will continue to grow as she interfaces with the firm’s exclusive luxury affiliations: Christie’s International Real Estate, Luxury Portfolio International and Illustrated Properties’ unique marketing platform which utilizes innovative technology that will benefit her portfolio of luxury properties and clients she represents.”

CONTACTS:

Eric Kalis

Account Director, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

Regency Centers Acquires Ridgewood Shopping Center in Raleigh, NC

Ridgewood Shopping Center in Raleigh, NC (Photo:BusinessWire)

RALEIGH, NC -- (BUSINESS WIRE)--Regency Centers Corporation (“Regency” or the “Company”), a national owner, operator, and developer of grocery-anchored shopping centers, has announced the acquisition of the Ridgewood Shopping Center.

Located in Raleigh, NC, Ridgewood Shopping Center was originally developed in 1951 and has operated as a grocery anchored center for the past 67 years. Ridgewood Shopping Center was purchased in a joint-venture partnership where Regency owns a 20% interest.

The center is located inside Raleigh’s Beltline, less than three miles from downtown, and anchored by the city’s original Whole Foods. Placed among the strongest demographics in the market, Ridgewood is proximate to NC State, Meredith College, and Raleigh’s most-affluent neighborhoods.

“Regency Centers is proud to add Ridgewood to our portfolio of high quality shopping centers in the Carolinas,” said Matt Hagan, Vice President and Market Officer for Regency Centers.

Matt Hagan

“This is an irreplaceable, infill property with a deep-seated history and is one of the best located centers in the Triangle. We plan to leverage the strength of our leasing, property management and development teams to ensure that the center both reflects and serves the surrounding community.”

Along with Whole Foods Market, Ridgewood Shopping Center is also home to Walgreens, Orvis, Fleet Feet Sports and a collection of long-tenured local tenants servicing the trade area. This is Regency’s 13th property in the market, including Cameron Village, Midtown East, and Market at Colonnade Center.

Contacts

Regency Centers Corporation
Eric Davidson, 904-598-7829
Senior Communications Manager
EricDavidson@regencycenters.com
or
Matt Hagan, 919-831-4950
Vice President, Market Officer
MattHagan@regencycenters.com

regencycenters.com.

HFF announces sale of and financing for Class A apartments in Fayetteville, AR

Uptown Fayetteville Apartments+Shops,
3959 North Steele Boulevard, Fayetteville, AR

DALLAS, TX, Sept. 24, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for Uptown Fayetteville Apartments+Shops, a 308-unit, Class A apartment community in Fayetteville, Arkansas.

The HFF team marketed the property exclusively on behalf of the seller, Specialized Real Estate Group.

Steven Hahn Jr.

Sun Holdings Group purchased the offering free and clear of existing debt. Additionally, HFF worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program.

The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Completed in 2017, Uptown Fayetteville Apartments+Shops comprises a mix of studio through two-bedroom units averaging 828 square feet each as well as nearly 17,000 square feet of ground-floor retail.

The eight-building property is situated on 14 acres at 3959 N. Steele Boulevard, which is approximately four miles north of downtown Fayetteville and the University of Arkansas.

In addition to the onsite retail, Uptown Fayetteville is within five miles of more than 12 million square feet of retail and entertainment destinations, including Northwest Arkansas Mall, Walmart Arkansas Music Pavilion and the Walton Arts Center.

The LEED-certified community features a heated saltwater pool, outdoor gathering space with fire pit, community garden, landscaped roof deck, outdoor kitchen with three grilling areas, state-of-the-art fitness center, custom art murals, garages/covered parking and direct access to the Razorback Regional Greenway.

The property’s units feature modern, high-end finishes, including stainless steel appliances, granite countertops, kitchen islands, full-size washers and dryers, spacious balconies and some include spiral staircases leading to private rooftop decks.

The HFF investment advisory team representing the seller included director Steven Hahn, Jr., senior managing director Roberto Casas and senior director Greg Toro.

Brian Carlton

HFF’s debt placement team representing the borrower included senior managing director Brian Carlton.

Specialized Real Estate Group (SREG), headquartered in Fayetteville, Arkansas, is a real estate development and property management company focused on building healthy communities, spanning multifamily, mixed-use, commercial, hospitality and single-family. SREG has developed over 1.2 million square feet of LEED certified space.

Sun Holdings Group is a premier 25-year-old real estate investment and management company, with broad experience and expertise in multifamily, hospitality and retail sectors. The group is headquartered in Houston, Texas, with properties located across the globe.