Saturday, January 5, 2019

HFF announces $5.3 million sale of assisted living site in Doral, FL

                                                                                                                   Photo by Robin Hill
1.3-acre assisted development site in Downtown Doral, FL
MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announced the $5.3 million sale of a 1.3-acre assisted development site in Downtown Doral, a 250-acre mixed-use community in Doral, Florida.

Ana-Marie Codina Barlick

Downtown Doral comprises approximately 70 shops and restaurants; a business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral;

Manuel de Zarraga
Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School, which is currently under construction; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces.

“Downtown Doral is a transformative community in Doral,” said Jaret Turkell, managing director at HFF.  “This new ALF project will service a much-needed demand within the area and allow for multi-generational enjoyment within Downtown Doral.”

HFF represented the seller and master developer of Downtown Doral, Codina Partners, in the transaction to Goray Development Company. 

The HFF investment advisory team representing Codina Partners included executive managing director Manuel de Zárraga, managing director Jaret Turkell, senior director Maurice Habif and associate Simon Banke.

Jaret Turkell
“The assisted living component within Downtown Doral perfectly complements the independent living facility and the Baptist Health South Florida healthcare facility that are both under construction in Downtown Doral,” said Ana-Marie Codina Barlick, CEO of Codina Partners, master developer of Downtown Doral. 

 “I’d like to thank the HFF team for successfully facilitating this transaction that will further enhance the residential offering in our community.”

Downtown Doral is Miami’s premier town center, a vibrant community of culture and commerce, located at the heart of access to almost everywhere.  

Neighborhoods, offices, homes, an award-winning school, restaurants and shops that offer a new quality of life—totally walkable, connected, artfully designed, green and gracious.  

Maurice Habif
The 250-acre mixed-use development features approximately 70 shops and restaurants; a bustling business district with almost one million square feet of Class A office space; 5,000 luxurious residential units, including 5350 Park condo tower and Canarias in The Residences at Downtown Doral; Downtown Doral Charter Elementary School, a top-rated bilingual charter elementary school; Downtown Doral Charter Upper School; Doral Government Center, a LEED-certified city hall; and public green spaces adorned with world-class art pieces

Codina Partners is a distinguished real estate development, management and investment firm that combines transparency and authenticity to provide hospitable, polished service to every client, partner and stakeholder it serves.

Led by an experienced, visionary leadership team, Codina Partners has distinguished itself from other developers and managers by recognizing overlooked opportunities, leaving every community better than they found it, delivering elevated service and producing high-quality work resulting in successful outcomes.

Simon Banke
  Codina Partners’ development and management portfolio includes notable mixed-use and industrial projects such as Downtown Doral, 2020 Salzedo and Beacon Logistics Park.

 To learn about Codina Partner’s integrated services, visit or call 305-529-1300.

Goray Development Company and its affiliates is a focused development, ownership and management company that has created a series of very successful, market-responsive senior living and multifamily communities.  Its core competence is to identify underserved submarkets early on, acquire strategically located land parcels and structure financing. 


FL Lic. #BK3114894
HFF Managing Director
(305) 448-1333

HFF Public Relations Specialist
(713) 852-3403

Codina Partners Marketing Assistant
(305) 569-2202

@DowntownDoral on Facebook and Twitter
@DowntownDoralLife on Instagram.

Levin Johnston Directs One-Acre Multifamily Acquisition in Mountain View, CA

Adam Levin

MOUNTAIN VIEW, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the $8.8 million acquisition of a one-acre multifamily community in the ultra-exclusive Mountain View market.

Adam Levin, Senior Managing Director for Levin Johnston and Robert Johnston, also a Senior Managing Director with Levin Johnston, represented the buyer, a local, well-seasoned apartment investor who will continue to operate the property as a cash flow investment.

“The investment appeal of this asset is driven by its prime location in the Silicon Valley,” says Johnston. “Tech employers continue to attract talent to the region, such as Google, which employs over 62,000 people in the immediate vicinity. 

Robert Johnston
"Future job growth over the next 10 years is predicted at 43.6 percent, which is higher than the U.S. average of 38 percent. All of this activity supports renter demand at an all-time high.”

The 16-unit complex is located in the heart of Mountain View – 1.2 miles away from Google’s headquarters. 

The low-density property is in close proximity to many other top tech employers such as Facebook, Apple, and Amazon, among others.

“This asset is well positioned for significant added value creation through renovation or potential redevelopment,” says Levin.

 “We were able to help the buyer to acquire a cash flow property now with tremendous potential for growth in the long term.”

440 North Rengstorff Apartments
 Mountain View, CA
Located at 440 North Rengstorff, the apartment property is near downtown Mountain View, in close proximity to schools, shopping, dining, and highways 101 and 85, providing direct access to all major Bay Area locations.


Alex Caswell / Jenn Quader 
Brower Group
(949) 955-7940

Pollack Shores Sells Long-Term, Value Add Asset in Tampa, FL

5 West Apartments, Tampa, FL

TAMPA, FLA. (Jan. 4, 2019) – Multifamily developer and investment firm Pollack Shores Real Estate Group announced the sale of 5 West Apartments to TH Real Estate in Tampa, Florida after a successful 10-year hold. 

The community, originally developed by Pollack Shores, has been an incubator for the company, a place to deploy forward-thinking property management and value-add strategies since 2008.

Steven Shores
 “5 West Apartments is especially meaningful for Pollack Shores because every side of our business played a significant role in the community’s success,” said Steven Shores, CEO and President of Pollack Shores.

“Our team’s collaborative efforts and flawless execution of the initial development, recent renovation and day-to-day onsite management over the last decade showcase our expertise in all areas of multifamily real estate.”

Brendan Whalen, Vice President of Acquisitions at Pollack Shores, said, “There is incredible demand for value-add properties in the multifamily space, and we’re eager to apply our experience and proven approach to our portfolio in 2019.”

Pollack Shores acquired the land in Tampa’s Westshore District in 2008 and developed the 318-unit garden-style community.

 It was one of Pollack Shores’ first development projects and marked the company’s first entry into Florida.

Pollack Shores has since expanded its presence throughout the state, having managed 6,754 units and owned 23 properties there.


Nick Banaszak
The Wilbert Group
256-457-5384 (C)

Liz Maddux · Assistant Account Executive
1718 Peachtree St., Suite 1048 · Atlanta, GA 30309
M: 478-972-3210

Surge in Spec Suite Leasing and a $10 Million Dollar Renovation Highlight Banner Year at Bank of America Plaza in Atlanta, GA

55-Story Bank of America Plaza, Atlanta, GA

ATLANTA, GA – A rapid run on next-generation spec suites that fueled more than 100,000 square feet in new leasing activity and a significant renovation project delivering an array of new amenities highlighted a remarkable year at Bank of America Plaza in Atlanta, the Southeast’s tallest skyscraper.

Shorenstein Properties LLC announced its year end summary for BOAP, with the firm delivering an impressive haul of new and renewed tenants in 2018.

Christopher Caltabiano
More than 159,000 square feet of leasing agreements were signed over the calendar year at the 55-story tower. The announcement comes as the firm prepares to roll out the next batch of high tech spec suites with loft-style offices in Q1 2019.

Logistics software firm Flexport topped the list of new additions from the tech sector at BOAP in 2018, with the company signing a multi-floor lease totaling 48,951 square feet.

In addition to the influx of new tech firms, long-time tenant and international law firm Hunton Andrews Kurth validated the building’s recent success by signing a ten-year renewal agreement totaling 34,986 square feet.

Other new tenants and lease renewals over the past year include:

·        Revel Systems – new lease (25,547 SF)
·        Buckley Beal, LLP – new lease (14,000 SF)
·        Groundfloor – new lease (7,746 SF)
·        Florence Healthcare – new lease (4,106 SF)
·        Convoy – new lease (24,363 SF)

“We’re pleased to see the exceptional leasing activity that has occurred at BOAP over the last twelve months, which is a testament to the success of our repositioning strategy,” said Christopher Caltabiano, Senior Vice President of Asset Management at Shorenstein Properties.

“The recent improvements have breathed new life into the building and created a tech hub with future-ready workspace in the heart of the North Avenue Smart Corridor.

"Employers are consistently demonstrating a preference to set up shop near the areas where they need to recruit top talent, and we anticipate continued growth when the next batch of spec suites come online in early 2019.”

Mark Elliott
The crown jewel of Atlanta’s skyline, BOAP is home to both fast-growing tech firms such as Featurespace, GroSolutions and Risalyze, as well as established legal and professional services firms like Troutman Sanders and Bank of America.

 The diverse tenant lineup has served as a spark for building new alliances and fostering a unique community culture at the iconic tower.

“The energy in the building resulting from the capital improvements and emergence of new young companies has been incredible,” said Mark Elliott, a senior partner at Troutman Sanders.

 “We’ve been able to take full advantage of the new amenities and services provided by Shorenstein, which add prestige and additional firepower for our recruiting efforts. We look forward to calling BOAP home for many years to come.”

Nick Banaszak
The Wilbert Group
256-457-5384 (C)

Evergreen Real Estate Group Grows National Affordable Housing Portfolio

Stephen Rappin
CHICAGO, IL — Chicago-based Evergreen Real Estate Group, a leader in the acquisition, development, rehabilitation and management of both affordable and market-rate multifamily housing, announced it has been retained to manage nine affordable housing communities comprising a total of 1,071 units across Illinois, Kansas, Ohio and Wisconsin.

Legacy Lofts, Milwaukee, WI

 The assignments include a mix of affordable housing for families, seniors and people with disabilities, expanding Evergreen’s management portfolio to more than 8,500 units throughout the U.S.

“Evergreen is committed to creating, preserving and managing quality affordable housing that offers those facing financial hardship a good, safe place to live and call home,” said Steve Rappin, president of Evergreen Real Estate Group.

Martin Avenue Senior Housing, Naperville, IL
 “The need and demand for affordable housing continues to grow, and our broad range of experience allows us to bring creative solutions and best-in-class services to our residents, third-party owners, housing agency partners and investors.”

The new assignments include:

·        Brookhaven Apartments – 181-unit affordable housing community in Gurnee, Ill.
·        Carter Manor Apartments – 270-unit affordable community for seniors and disabled individuals in Cleveland
·        Johnstown Towers – 91-unit affordable housing community in Salina, Kan.
·        Oakdale Plaza Apartments – 38-unit affordable housing community in Salina, Kan.
·        Legacy Lofts – 64-unit mixed-income housing community in Milwaukee
·        The Martha Washington Apartments – 104-unit affordable senior community in Chicago
·        Martin Avenue Apartments – 122-unit affordable senior community in Naperville, Ill.
·        Neosho Plaza Apartments – 33-unit affordable housing community in Council Grove, Kan.
·        Neilan Park Apartments – 168-unit affordable housing community in Hamilton, Ohio


Kathryn Kjarsgaard,, (312) 267-4514
Abe Tekippe,, (312) 267-4528