Casa Familia Makes History with Funding Approval for the First Residential Community in Miami-Dade County for Individuals with Intellectual and Developmental Disabilities (IDD)

Deborah Lawrence

MIAMI, FL– Casa Familia, a not-for-profit 501(c)(3) organization advocating for adults with IDD, was awarded capital funding, by a unanimous vote from the Florida Housing Finance Corporation Board, on May 10, 2019, for the first affordable housing community in Miami-Dade County for this underserved population

 This milestone award of $15 million in federal tax credits and $4 million grant, allows Casa Familia to begin planning and continue raising the necessary funds to ensure the development and sustainable operations of this groundbreaking community.

State Senator Anitere Flores

The Village of Casa Familia will be located in Kendall, near Indian Hammocks Park. The 50-unit complex will be a campus style, pedestrian-friendly community enriched with extensive amenities tailored to the unique needs of individuals with IDD, including those most vulnerable.

 This first-of-its-kind community will be a place where residents can receive the long-term support and accommodations they need to live independent and fulfilled lives.

Miami-Dade County Commissioner Javier Souto

“There has never been an affordable independent living community developed anywhere in South Florida for this underserved population," says  Deborah Lawrence, Vice President of Casa Familia.   

"Most adults with IDD continue to have unmet needs. They have limited choices, and without help, rarely participate in the community, due to a lack of access to transportation and other services.

State Representative Nick Duran

"For aging caregivers the demands of caring for loved ones is often overwhelming, and alternative solutions grow increasingly urgent. Casa Familia is proud to sponsor this first-of-its-kind community in Miami-Dade County and help address this national crisis."

Florida is taking the lead in creating these types of communities, as The Village of Casa Familia will be the sixth community funded in the past five years. Nearly 5% of Florida’s total population has an intellectual and/or developmental disability.

State Representative Daniel Perez

According to the State of the States, in Florida, 74% of individuals with IDD live with a family caregiver; a third of which live with a caregiver age 60 and older.

As this generation of caregivers continues to age, many of their adult children with IDD are at risk of homelessness.

Current residential options are either inappropriate or out of their economic reach, particularly in Miami-Dade County, where the average cost of a one-bedroom apartment  is $1,147, far above the economic capacity of the average adult with IDD, most of whom subsist on $771 in Supplemental Security Income.

Ron Book

Atlantic | Pacific Communities partnered with Casa Familia to develop, build, and manage the property in accordance with the not-for-profit’s vision. The design phase of the project began on June 1, 2019.

Eric Jawitz, a 31-year-old with IDD remarked, “I’m happy communities like this are being supported and built for people like me.

 I currently live at home with my parents and I would like to have my own apartment, like my sister does, somewhere in Miami, so I can be close to my job.

 I think a community would be a great place for me to live.  I could live near my friends, make new friends, and we could do activities together at the community center. That way, I wouldn’t be so lonely.”

Marie-Ilene Whitehurst 

The Casa Familia project is made possible thanks to the support of its generous partners including Atlantic | Pacific Communities, UM CARD, United Community Options, Miami-Dade County, Commissioner Javier Souto, State Representative Nick Duran, State Representative Danny Perez, State Senator Anitere Flores, and Ron Book & staff.

For more information about Casa Familia, please visit www.casafamiliainc.org and follow them on Facebook and Twitter.

If interested in supporting and contributing to the development of this community, please contact Marie-Ilene Whitehurst at mwhitehurst@casafamiliainc.org. 

Deborah Korge

For more information about A | P Companies and its array of real estate services including development, property management, affordable housing, and construction, visit www.apcompanies.com

Casa Familia’s Consulting Executive Director, Deborah Korge, has 25 years of nonprofit leadership and management experience including serving as Executive Director of Casa Valentina and of The Women’s Fund Miami-Dade.

 CONTACTS FOR A|P COMMUNITIES:  

Juliana Gutierrez | juliana@jwipr.com | 786.991.4259

Violeta Pereira |violeta@ jwipr.com | 786.371.3748

Stos Partners Pays $25 Million for Four Industrial Properties in Southern California

CJ Stos

SAN DIEGO, CA and TEMECULA, CA – Stos Partners, a privately held commercial real estate investment and management firm, has expanded its Southern California portfolio with the acquisition of four industrial properties encompassing 177,898 square feet. 

The firm acquired one property in Temecula, California and three in San Diego, California for a total consideration of $25 million.

“As one of the most active buyers of industrial product in the Southern California region, we understand the tremendous value creation that is possible in this product type,” says CJ Stos, Principal of Stos Partners. 

Louay Alsadek

“Each of the properties we acquired is situated in a prime location within their respective markets, and offers the ability to create long-term value through repositioning and strategic leasing. 

"Our ability to source these assets in the current market speaks to our firm’s rapid movement, our surety of close, and our strong track record and reputation.”

Cold Storage Facility, 9925 Airway Drive, San Diego, CA

Stos Partners' new acquisitions include:

Stos Acquires Industrial Refrigeration Facility and Expands Tenant to 100% Occupancy

Hunter Rowe

Stos Partners has also acquired a 53,601 square-foot industrial property in San Diego, California for $6.150 million. The property, a freestanding refrigeration facility, was occupied by two tenants – one of whom is the seller.

The property is located at 9925 Airway Drive in San Diego, California. Louay Alsadek and Hunter Rowe of CBRE represented Stos Partners as the buyer in the transaction. The seller was represented by Erik Parker, Joe Smith, and John C. Smith of CBRE.

Industrial Asset, 3670 Ruffin Road, San Diego, CA.

Stos Acquires Industrial Property in Kearny Mesa and Secures Long-Term Lease

Stos Partners also acquired a 21,200 square-foot industrial property in the Kearny Mesa submarket of San Diego, California for $4.65 million.

The property is located at 3670 Ruffin Road in San Diego, California.

Bryce Aberg

Bryce Aberg and Brant Aberg of Cushman & Wakefield represented Stos Partners as the buyer in the transaction. The seller, a private investor, was represented by Brent Bohlken, Paul Britvar and Justin Maiolo with Newmark Knight Frank.

Stos Acquires and Brings Temecula Facility to 100% Occupancy

Stos Partners has acquired a 65,315 square-foot industrial building in Temecula, California for $7.1 million. The seller, a publicly traded company, leased back approximately 50 percent of the building to continue its operations in the facility for the long term.

Bob Gunness

The property is located at 28410 Vincent Moraga Drive in Temecula, California.  Rob Gunness and Kevin Kelly of CBRE represented the seller in the transaction.

Stos Acquires Miramar Industrial Building Off-Market

Stos Partners has also acquired a 37,882 square-foot industrial property in Miramar, California in an off-market transaction for a total consideration of $6.305 million. 

Stos plans to reposition and improve the property with $500,000 in capital upgrades and expects to attract a full-building tenant quickly.

Kevin Kelly

Glenn Arnold and Jeffrey Sallen of Cushman & Wakefield represented both Stos Partners and the seller in the off-market acquisition. The property is located at 9600 Kearny Villa Road in San Diego, California.

CONTACTS:

Micaela Fehrenbach / Jenn Quader

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com

www.stospartners.com.

B+E sells Academy Sports property in Jackson, TN for $6.75 million using proprietary online 1031 exchange trading platform

Kane Morris-Webster

NEW YORK, July 1, 2019 – B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the Academy Sports + Outdoors property at 193 Stonebrook Place, Jackson, TN, for $6,750,000.

The buyer worked with a B+E broker to find the property using 1031Trade, B+E’s new proprietary online trading platform for 1031 exchange buyers.  The net lease retail property has 12 years of remaining lease term.  

Academy Sports + Outdoors, 193 Stonebrook Place, Jackson, TN

The buyer, Chimblo Family Real Estate LLC, was completing a 1031 exchange with a complex debt-equity requirement, making a thorough, national search for property imperative.

"B+E swept the US market, and we found a net lease property that matched our buyer’s specific criteria," said Kane Morris-Webster, CCIM, a B+E broker. “Using 1031 Trade, buyers can quickly review nearly every deal currently on and off the national net lease market and instantly place offers, which streamlines the search process and lets buyers efficiently review more properties.”

CONTACT:

Kane Morris-Webster, CCIM

kmw@benetlease.com 

www.benetlease.com.