JLL Capital Markets handles sale of the 124,585-square-foot, Publix-anchored Tamarac Town Square in Tamarac, FL

 

 Kimberly Flores

MIAMI, FL – JLL Capital Markets has closed the sale of Tamarac Town Square, a 124,585-square-foot, Publix-anchored shopping center located within the Miami MSA. The price was not disclosed

 

JLL represented the seller, Regency Centers, and an affiliate of Jamestown acquired the asset.

SOLD: Tamarac Town Square, a 124,585-SF,
Publix-anchored shopping center
located within the Miami MSA.

Danny Finkle

The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Danny Finkle, Senior Directors Eric Williams and Jorge Portela and Vice President Kimberly Flores.

 

Built in 1983, the 83.8-percent-occupied Tamarac Town Square is leased to a strong roster of national retailers, including Publix, Retro Fitness, Dollar Tree, Humana and McDonald’s.

 

Situated on 18.6 acres in northwest Broward County, the center is located on the southwest corner of the Pine Island Road and Southgate Boulevard intersection at 8129-8315 North Pine Island Rd.

 

 The center is approximately 11 miles northwest of downtown Fort Lauderdale, eight miles south of Boca Raton and 30 miles north of Miami.

 Eric Williams

The property serves an incredibly dense and growing trade area, with a population of 540,506 and an average household income of $89,058 within a 15-minute drive.

 

“Quality Florida retail investment opportunities continue to attract outstanding investor demand, and Tamarac Town Square represented a prime grocery-anchored offering in a strong South Florida retail submarket,” said Williams.

 

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 investment and sales advisory, debt advisory, equity advisory or a recapitalization.

 

Jorge Portela

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

CONTACT:

 

Jenna Sharp

JLL, Public Relations

 Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

Twenty Four Seven Hotels Partners with Shiny to Provide Digital Tipping For Associates

Rebecca Robinson

NEWPORT BEACH, CA, April 9, 2024—Officials of Twenty Four Seven Hotels, a third-party hospitality management company for premium-branded, select-service and lifestyle hotel segments in the western U.S., has partnered with Shiny, a leading digital tipping platform, to provide services for more than 450 associates across its 30 hotel portfolio.  The service is available across multiple hotel departments, including housekeeping and more.

 “With one of the tightest labor markets in industry history and ever rising costs, it has become increasingly important for us to recognize the efforts put forth by our associates,” said David Wani, CEO, Twenty Four Seven Hotels.  

“We believe that by consistently rejecting the status quo and insisting that we can always improve and innovate, we conquer complacency—and ultimately improve the efficiency and effectiveness of our operation.  

Gwen Johnson

"Along with our Daily Pay program, this is another example of the additional efforts we take to ensure our employees are among the most satisfied in the industry.”

 

The Shiny platform offers a convenient digital tipping solution, eliminating the need for cash while ensuring that housekeepers and other hotel associates, often neglected in the tipping process, can earn gratuities. 

 David Wani

Shiny offers a data driven platform that automates tip matching while providing analysis used to run more productive operations, and hotels can launch the service within a matter of days of contract.  Guests can make a secured payment with an itemized receipt.  

Using AI, Shiny prompts guests to leave an external review when they have a positive hotel experience, another benefit for the property.  Associates utilizing Shiny can enjoy an additional $3 to $10 in hourly wages, depending on brand sector, based on results from the company’s existing portfolio.

About Shiny

Shiny is a digital tipping and productivity platform for hotels founded by industry veterans Rebecca Robinson and Gwen Johnson. The company was founded in 2021 to solve a simple problem: alleviate labor challenges by modernizing hospitality operations. 

To date, Shiny has served hotels across various levels of service, including boutique and luxury with brands like Hyatt, Hilton and Marriott by prioritizing the well-being of hotel associates.  

 

CONTACT:

Chris Daly, 

media

 (703) 864-5553 

    http://chris@dalygray.com

www.247hotels.com.

stayshiny.co.

                    

Forman Capital Funds $54.56 Million Construction Loan for 172-unit Condominium-Hotel Development in Miami’s Financial District

 

Domus FLATS, 1611 SW Second Avenue, Miami, FL

MIAMI, fl and PALM BEACH, FL –– Forman Capital, a private direct real estate lender based in Palm Beach County, Florida, provided a $54.56 million construction loan to the developer of a condominium-hotel project in Miami’s Brickell Financial District.

The 12-story, 172-unit Domus FLATS (Flexible Apartments for Temporary Stays) at Brickell Park will bring a new condo-hotel brand to the market and fill a void for flexible ownership product.

Unit prices range from the $500,000s to $1.2 million.

 Ben Jacobson

Located at 1611 SW Second Ave., Domus FLATS is being developed by North Development, a joint venture that includes Ricardo Dunin’s Oak Capital and Edifica, one of the largest developers and builders in Peru.

More than 50% of the project’s residential units were presold in advance of its groundbreaking. Domus FLATS also includes a commercial suite on the ground floor and 22 for-sale storage units.

The financing closed on March 22. Ben Jacobson, Scott Mehlman and Ty Regnier originated the loan on behalf of Forman Capital.

This is the first transaction between the sponsors and Forman Capital.

Scott Mehlman

“We are thrilled to commence what we hope will be a long-term relationship with these strong sponsors,” said Forman Capital Partner Ben Jacobson.

“Domus FLATS at Brickell Park is introducing a new and exciting brand to the Miami market. Forman Capital is uniquely suited to execute quickly on construction financing transactions for such developments.”

“Working side-by-side with Forman Capital’s team of professionals was seamless,” said Ricardo Dunin, Founding Partner of North Development. 

 

 “Through every step of the process, they were thorough and fully engaged, supporting our specified needs.  This latest feat, coinciding with our groundbreaking, is a testament to the confidence the market has in our Domus Brickell Park project and, by extension, the Domus FLATS brand.”

Ty Regnier

Domus FLATS will be the first project to carry the Domus flag. Units can function as primary residences or short-term rentals, giving buyers coveted flexibility. All units will be delivered fully furnished, and buyers who elect to rent their units can utilize the Domus property management services and reservation system – with access to more than 85 sales channels.

 “This transaction highlights the breadth of our capabilities due to its complexity and the international nature of the sponsorship and capital stack,” said Scott Mehlman, Forman Capital Chief Investment Officer. “We are excited to be a part of this new brand in South Florida and look forward to helping it grow in the future.”

 

 

\CONTACT:

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

www.formancap.com