Saturday, May 2, 2020

llustrated Properties’ Billy Nash Secures Exclusive Listing for Trophy Quail Creek Plantation Sportsman’s Paradise in Okeechobee, FL


Billy Nash
Nash, voted Palm Beach County’s Best Real Estate Agent, markets sprawling 3,150-acre hunting and sports-shooting Old Florida-style sanctuary for $25 million


PALM BEACH, FL and OKEECHOBEE, FL. -– Illustrated Properties, a member of The Keyes Family of Companies, announces that Billy Nash is the exclusive listing agent for the iconic Quail Creek Plantation in Okeechobee, Florida. 

Quail Creek Plantation, Okeechobee, FL
The 3,150-acre remote sportsman’s paradise is being marketed for $25 million on behalf of the estate of Whit Hudson, a prominent South Florida businessman.

Located an hour north of the Palm Beaches and a 20-minute drive from the private jet-accessible Okeechobee County Airport, the one-of-a-kind Quail Creek Plantation conjures up memories of Old Florida.

Whit Hudson
The pristine hunting and shooting sanctuary is adorned with gnarled cypress trees, stately oaks and southern pines. It features a 14-acre lake with trophy largemouth bass and four miles of water frontage.

“I am truly honored to have the trust and confidence of the family of a legendary man who created Quail Creek Plantation out of his passion for nature, sport and family,” Nash said.


Steven Hudson
“Quail Creek is a trophy asset like no other. This is an unprecedented opportunity for someone who covets the sportsman’s lifestyle to own one of the largest tracts of land in Florida.

"In light of what’s occurred over the last few months, I see a dramatic shift of ultra-high-net-worth individuals, who may feel uncomfortable in large cities, acquiring large parcels of land to add to their real estate portfolio.”

 H. Wayne Huizenga, Jr.
After purchasing 2,200 acres from a local rancher in 1998, Hudson transformed the site into the Southern-style hunting plantation it is today to provide an escape from the hustle and bustle of Fort Lauderdale.

 Over the years, he acquired another 950 acres, added 11 private cabins and built an 8,000-square-foot guest lodge that is a popular setting for weddings and other special events.

Mike Pappas
The lodge and residence grounds also includes a 5,000-square-foot owner’s residence; housing for private staff; 400 acres of high-fenced game hunting; four manicured quail hunting courses; dove fields; towers for continental pheasant and pigeon shoots; quail flight pen with capacity to hold 4,000 birds; dog pens accommodating up to 60 dogs and a garage for hunting buggies.




Quail Creek’s sporting clay grounds include two 14-station, automated sporting clay courses; a seven-station sub-gauge course; clubhouse and multi-use event pavilion with a capacity of 350 people.

Quail Creek hosts numerous major sporting and community events, including the annual Gator Cup clay-shooting tournament with more than 700 participants The clay courses are open to the public and cash flow positive.

“Quail Creek Plantation was a true labor of love for my father,” said Steven Hudson, a Fort Lauderdale-based real estate developer.



 “It started as a place to escape and entertain friends, then evolved into his second home. Now it’s time for the next chapter in Quail Creek’s history and for an outdoor enthusiast to enjoy this property with friends and family – as we did for more than two decades.”

For more information about Quail Creek, please visit www.quailcreeksale.com.

The host of AWE Network’s “Selling Mega Mansions” and head of Illustrated’s Nash Luxury, Nash is embarking on a sophisticated and targeted global marketing campaign for Quail Creek, leveraging Illustrated’s worldwide reach, technology and infrastructure.



 Last month, Nash was selected by Palm Beach Post readers as the Best Real Estate Agent in Palm Beach County during the publication’s annual “Best of Palm Beach County” awards reception. 

Nash has represented members of the Huizenga family in multiple high-end property sales.

In 2019, the team closed the $16.02 million sale of the family’s Tarpon Pointe Fort Lauderdale estate following a successful 90-day global marketing campaign.



Nash also represented H. Wayne Huizenga, Jr. in the $6.75 million sale of a Delray Beach estate in November 2017. The home was sold for the full asking price, spent only 10 days on the market and closed in 16 days.
  
“Billy Nash continues to impress as a South Florida luxury market leader and obtain one-of-a-kind listings like Quail Creek Plantation,” Illustrated President and CEO Mike Pappas said. “Illustrated looks forward to supporting Nash in what we expect to be a highly successful outcome for the seller.”

In 2019, Illustrated was named the Member of the Year by Luxury Portfolio International®, the luxury marketing division of preeminent global network Leading Real Estate Companies of the World®, one of the luxury real estate industry’s most coveted awards.

 Keyes and Illustrated control more than 20 percent of the $1 million-plus market in northern Palm Beach County.


CONTACT:

Eric Kalis
Vice President
 BoardroomPR
O 954-370-8999 
C 305-794-5123
Bank of America Plaza | 1776 N Pine Island Road
Suite 320 | Fort Lauderdale, FL 33322

Pandemic forces entrepreneurial lenders and equity investors to resurface in search of repriced asset opportunities


John Oharenko

Chicago, IL, May 2, 2020 – The Covid-19 pandemic forces the country to suffer from the worst economic downtown since the Great Depression.

  Many states extend the stay-at-home through this month, further taxing the economy.  However, premisists, tenants, lenders, and governmental authorities all work together to find solutions for mitigating personal and business financial hardships.  And pharmaceutical companies rapidly scramble to find possible virus cures.

On the commercial real estate front, entrepreneurial lenders and equity investors resurface in search of repriced asset opportunities, especially targeting distressed asset classes. 

 For prime-quality loans, pricing in the low-4%-range ranks favorably, but leverage and debt coverage remains challenging — active lenders with creative funding programs (e.g., Mezz debt) demand lower-teen returns. 

Furthermore, lenders demand at least six months of debt services reserves for exploring new loan fundings. And although transaction volume plummets to a screeching halt, buyers cautiously bid on selective deals as equity funds exercise strong discipline in investing.  

At the same time, well-heeled premisists stay on the sidelines carefully managing existing holdings.

The Real Estate Capital Institute’s director, John Oharenko, cautions, "availability of funds supersedes any pricing discussions.  Cash is king, once again.”

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.  

CONTACT:

The   Real Estate Capital Institute®
Chicago, Illinois USA 60622
John Oharenko, Executive Director

Levin Johnston Completes Sale of Upgraded, 30-Unit Multifamily Community in Fremont, CA



4001 Nicolet is a fully upgraded multifamily community in Fremont, CA

FREMONT, 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 sale of 4001 Nicolet, a fully upgraded multifamily community in Fremont, California.

Adam Levin
Levin Johnston’s Executive Managing Director Adam Levin, Senior Managing Director Robert Johnston, and Investment Associate Eymon Binesh represented the seller, and procured the buyer in the transaction.
“Fremont’s population is expected to grow by more than 5% through 2024 and is booming with activity, including a brand new 110-acre community plan that will support the local workforce and transit-oriented population, which will continue to drive resident demand for years to come,” explains Levin.
 “Further, the city is home to some of the top tech companies in the world, including TESLA, Logitech, and Facebook – which recently leased over one million square feet in Fremont to accommodate more than 19,000 employees – attracting interest from a wide range of investors.”
Robert Johnston
The community is located in close proximity to Fremont’s bustling Central District near to I-680 and I-880, providing direct access to the Bay Area peninsula.
“In addition to major employers, 4001 Nicolet is situated near transportation corridors and a multitude of shopping, dining, and entertainment options,” says Johnston.
"By keeping our finger on the pulse of the market, Levin Johnston was able to draw upon our local relationships to identify a pool of competitive buyers and effectively demonstrate the quality of the upgraded community and high renter interest in the market. Ultimately, we quickly secured the close of a satisfying transaction for both parties.”
Situated on 0.68 acres, the property offers one- and two-bedroom floorplans. Originally constructed in 1972, unit interiors were recently upgraded with fully remodeled bathrooms and kitchens, stainless steel appliances, granite countertops, new carpets, and hardwood flooring.

Eymon Binesh 
Additional modern community amenities include private balconies, private storage and an on-site laundry facility.
The property, 4001 Nicolet Avenue in Fremont, California, sold for a total consideration of $12.2 million.
For more information about Levin Johnston’s $100 million in available properties, visit www.levinjohnston.com.

CONTACTS:

Alex Caswell / Katie Haga 
Brower Group
(949) 438-6262