HFF arranges $79 million financing for Airport Corporate Center in Miami, FL

MIAMI, FL – HFF announced today that it has arranged $79 million in financing for Airport Corporate Center (top left photo), an 11-building, Class A office portfolio adjacent to Miami International Airport in Miami, Florida.

HFF worked on behalf of the borrower, a subsidiary of Hines REIT, to secure the 10-year, fixed-rate loan through John Hancock Life Insurance Company.  Loan proceeds are retiring existing financing set to mature in March 2012. 

Airport Corporate Center is located along the western edge of the Miami International Airport with prominent frontage along the Palmetto Expressway. 

The 11 buildings total 1,019,048 square feet and consist of suburban office, single-story office and warehouse uses.  The property’s tenants include Norwegian Cruise Line, South Florida Employment and United HealthCare Services.

The HFF team representing the borrower was led by senior managing director Paul Stasaitis (middle right photo), who was assisted by directors Chris Drew (bottom left photo) and Ignacio Portuondo.

“The quality of Airport Corporate Center, considered one of the most prominent and highly recognized Airport-west office parks, is exceptional, and this loan opportunity was only further enhanced by the reputation and experience of Hines as an operator,” said Stasaitis.

 “Lenders today have many choices on where to direct their capital, as such, providing thoroughly presented opportunities backed by top-rate sponsors with highly desirable real estate, ultimately leads to best-in-class results for both borrower and lender.”

Hines REIT, formed in 2003, is engaged in the business of investing in and owning interests in various institutional quality real estate assets.  Hines REIT directly or indirectly owns 57 assets and more than 26 million square feet of office, retail and industrial space and since inception has acquired in excess of $3.7 billion in real estate assets.

Contacts:

 Paul Stasaitis, HFF Senior Managing Director, (305) 448-1333, pstasaitis@hfflp.com                               

Chris Drew, HFF Director, (305) 448-1333, cdrew@hfflp.com 

Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com                

Marcus & Millichap Closes Sale of $13 Million Lender-Owned Property in Greenfield, CA

GREENFIELD, CA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Creekbridge Village Apartments (top left photo), a 154,838-square foot mixed-use property in Greenfield.

The property consists of 128 apartment units and 36,866 square feet of retail. The sales price of $13 million represents $84 per square foot. 

Ted Kokernak (middle right photo), a senior vice president investments in the firm’s Palo Alto office, in cooperation with San Francisco-based Newmark Realty Capital Inc., represented both parties in the transaction.

 “Creekbridge Village Apartments is the only modern apartment complex located between Salinas and Paso Robles,” says Kokernak. “The property has become a Greenfield landmark with its eclectic and award-winning architectural style.”

Located on 5.6 acres at 10 South El Camino Real in Greenfield, the property surrounds Village Green, a park-like setting where local musicians perform from an old-world-style bandstand.

Creekbridge Village Apartments consists of seven buildings ranging from one-story retail at the front to two- and three-story apartments over retail in the core development. The buildings are wood frame and stucco with pitched roofs and Spanish tile or composite shingles.

 The apartment unit mix is 26 one-bedroom/one-bath units, 65 two-bedroom/one-bath units, 22 three-bedroom/one-bath apartments and 15 three-bedroom/two-bath apartments. There are 26 retail units that range from 430 square feet to 8,815 square feet.

 Creekbridge Village Apartments provides residents with covered and gated carport parking and a gym. The apartments feature open floor plans and all-electric kitchens.

Greenfield is located in Monterey County, approximately 33 miles southeast of Salinas.

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

New Promotions and Hires at Marcus Millichap

 David E. Thurston Named Vice President Investments in New Jersey Office

ELMWOOD PARK, NJ– The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted David E. Thurston (top right photo) to the position of vice president investments.

This designation exemplifies superior performance in the accomplishments an associate has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Michael J. Fasano (top left photo), vice president and regional manager of the firm’s New Jersey office.

 “David has earned a reputation as an extremely knowledgeable investment specialist,” says Fasano. “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as from his peers.”

“In the past 12 months, during a most challenging cycle in our industry, David has closed in excess of $40 million,” adds Fasano.

Most recently, Thurston held the position of associate vice president investments.

Bill Kohlhepp Promoted to Vice President Investments in Fort Lauderdale

 FORT LAUDERDALE, FL – The board of directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Bill Kohlhepp (middle right photo) to the position of vice president investments.

This designation exemplifies superior performance in the accomplishments an agent has achieved in his or her sales career at Marcus & Millichap and in the investment real estate brokerage profession, according to Gregory Matus (middle left photo), first vice president and regional manager of the firm’s Fort Lauderdale office.

  “Bill has earned a reputation as one of the most knowledgeable investment specialists in the nation,” says Matus. “He is a consummate professional, continually striving to expand his knowledge and expertise. His focus on providing superior client services has earned him a high degree of loyalty and respect from investors as well as from his peers.”

Kohlhepp began his career with Marcus & Millichap in April 2001, specializing in the sale of office and retail properties.

Seth M. Mott  Is The New Assistant General Counsel based in Salt Lake City, UT

ENCINO, CA– The Board of Directors of Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Seth M. Mott (bottom right photo) assistant general counsel, according to John J. Kerin, president and chief executive officer. Mott will be based in the firm’s Salt Lake City office.

Most recently, Mott served as a member of the litigation section for the national law firm, Van Cott, Bagley, Cornwall & McCarthy, with a practice focused on general civil and commercial litigation.

Mott’s practice involved a wide range of clients including private parties, corporations and public entities involved in real estate, banking, securities, construction, energy and natural resources enterprises.     

“Seth is a talented and aggressive trial attorney with wisdom beyond his years.  He brings an immediate benefit to Marcus & Millichap by greatly expanding our legal department’s ability to better serve our agents and defend their business interests.” explains Paul Mudrich (bottom left photo), managing director and chief legal officer of Marcus & Millichap. “Seth will be an asset to our trial team and our investment professionals nationwide.”

Mott is a cum laude graduate from Washington and Lee University School of Law and Brigham Young University. 

   

 Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Mercantile Capital Corp. closes on nine commercial loans in August to finance projects valued at more than $21.6 million in Florida

  

ALTAMONTE SPRINGS, FL--- Mercantile Capital Corporation, in Altamonte Springs, a wholly-owned subsidiary of Old Florida National Bank, reports it closed nine commercial loans in August to finance projects valued at more than $21.6 million in Florida, Texas, California, Georgia and Maryland.

Chris Hurn, chief executive officer at Mercantile Capital Corporation, said the volume of commercial loans closed in August was the highest in the company’s history. Its previous record month was June 2010, when the company closed nine loans worth $20.5 million in total project costs.

Mercantile Capital Corporation specializes in U.S. Small Business Administration (SBA) 504 loans for small business owners who want to acquire or develop their own facilities.

 SBA 504 loans offer long-term, below-market interest rates with as little as 10 percent down.

Geof Longstaff (lower left photo) chairman at Mercantile, said the largest single loan in August was worth $6.6 million in total project costs to refinance the Country Inn and Suites Hotel (top left photo) in Capital Heights, Md.

Through eight months of 2011, Mercantile has closed loans worth more than $110.9 million in total project costs and has helped create or retain 755 total jobs as a result of this financing.

More information can be found at www.504Experts.com and www.504Blog.com.

For more information about this press release contact:

Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040 GLongstaff@Mercantilecc.com

Chris Hurn, Chief Executive Officer, Mercantile Capital Corporation, ChrisHurn@MercantileCC.com, 407-786-5040

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

Essex Realty Group Brokers Sale of Mixed-Use Mid-Rise Building in Rogers Park, Illinois

CHICAGO, IL, Sept. 8, 2011.   Essex Realty Group, Inc. is pleased to announce the sale 7301 N. Sheridan Road (top left photo) located in Chicago’s Rogers Park neighborhood on the northeast corner of Sheridan Road and Chase Avenue, just one block from Lake Michigan.

The property consists of 101 residential units that were recently updated and 5 street-level retail spaces. The residential unit mix includes 28 studio, 51 one-bedroom, 21 two-bedroom and 1 three-bedroom units.

 Matt Welke and Doug Fisher of Essex represented the seller and purchaser.  The price was approximately $6,700,000.

 Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.

If you would like more information, please call Doug Imber at 773.305.4902 or e-mail him at dougimber@essexrealtygroup.com.

NAI Realvest Negotiates New Industrial Lease for Indoor Baseball Training facility at Carter CommerCenter in Winter Garden, FL

  

Maitland, FL. – NAI Realvest recently negotiated a new lease agreement for 1,875 square feet of industrial space in Suite 250 of the Carter CommerCenter (top left photo), 902 Carter Rd. in Winter Garden off S.R. 50. 

 Michael Heidrich, a principal at NAI Realvest, brokered the transaction on behalf of the landlord COP-Carter, LLC of Maitland and the tenant, Turf Athletics, LLC.  The Winter Garden based indoor baseball training business leased the space for 26 months.

 To learn more, visit www.NAIRealvest.com.

For more information, contact:

Michael Heidrich, Principal NAI Realvest, 407-875-9989,  Mheidrich@realvest.com;

Patrick Mahoney, President NAI Realvest, 407-875-9989,  Pmahoney@realvest.com;

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142    

Lvershelco@aol.com

Stirling Sotheby's International Realty Appointed Exclusive Marketing Agents for 36 Home Sites at Mission Inn near Orlando

  

ORLANDO, FL --- Stirling Sotheby’s International Realty has been appointed exclusive sales and marketing agents for 36 luxury home sites at Mission Inn Resort and Residences (top left photo), located on the Las Colinas Golf Course at the historic luxury resort in Howey-in-the-Hills near Orlando.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Mission Inn Resort and Residences includes 21 golf course villa home sites, eight club home sites, five duplex home sites and two estate home sites.

 Most of the home sites front on the Las Colinas Golf Course (middle right photo) with a few overlooking conservation areas, Soderstrom said.  See a brochure on the property at http://www.stirlingsir.com/eflyers/agents/marnold/mi.html.

Sales of individual home sites would total nearly $3 million, however, Stirling Sotheby’s is offering all 36 home sites at a discounted bulk price of $1.26 million or an average of $35,000 per home site.

“Mission Inn Resort and Residences is one of the most beautiful luxury residential resorts in Florida, with a history that goes back almost a century,” Soderstrom said.

 Mission Inn is located minutes from the Florida Turnpike and U.S. 27, and features an internationally renowned resort with 200 luxury quest rooms and conference facilities, two championship golf courses, a world class spa, golf academy, tennis center, a marina and restaurants.

Mark Arnold (lower left photo) of the Global Real Estate Advisors Group at Stirling Sotheby’s International Realty is handling the sale of the property.

To view a video of the property, visit www.youtube.com/watch?v=syg79odZRYw.

Contacts:

Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com;

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142   Lvershelco@aol.com.   

National Retail Properties, Inc. Announces Offering of Common Stock

ORLANDO, FL Sept. 6, 2011 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN) (the "Company") today announced that it has commenced an underwritten public offering of 8,000,000 shares of common stock. As part of the offering, the Company also expects to grant the underwriters a 30-day option to purchase up to 1,200,000 additional shares of common stock.

 Citigroup, Wells Fargo Securities and BofA Merrill Lynch will act as joint book-running managers for the offering.

The Company intends to use the net proceeds from the offering to repay borrowings under its credit facility and for general corporate purposes, which may include future property acquisitions.

National Retail Properties, Inc. Announces Increased 2011 FFO Guidance

 ORLANDO, FL, Sept. 6, 2011 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced increased 2011 FFO guidance of $1.52 to $1.55 per share before any impairment expense and estimated AFFO to be $1.65 to $1.68 per share.

This FFO guidance equates to net earnings before any gains or losses from the sale of real estate of $0.93 to $0.96 per share plus $0.59 per share of real estate related depreciation and amortization. 

The increased guidance is primarily related to increased projected acquisition volume of $400-$500 million in 2011 from our prior projected acquisition volume of $200-$250 million in 2011.

 In 2011 through the date of this release, NNN has completed the acquisition of approximately $290 million in the Investment Portfolio, including acquiring 99 properties with an aggregate 1.8 million square feet of gross leasable area. 

This guidance updates the Company's previously announced 2011 FFO and AFFO guidance and is based on current plans and assumptions and subject to risks and uncertainties more fully described in this press release and the Company's reports filed with the Securities and Exchange Commission.

Contact: Kevin B. Habicht, Chief Financial Officer, +1-407-265-7348

Bournecoast Property Agents are delighted their predictions ten months ago have come to fruition.

  

Bournemouth, United Kingdom --(PR.com)-- Indeed, they sent press releases back in May to endorse their predictions which were confirmed by the release of industry data last week.

Landlord Today highlights that demand for Buy-to-Let (BTL) mortgages is up to 16.8% which is the highest it’s been this year – so far – which is a sharp increase on the 10.9% of all BTL mortgages at the start of the year – up by a further 6%.

Additionally, two thirds of buyers are now opting for fixed-rate mortgages as opposed to the discounted or tracker mortgages.

Simon Tebbutt (top right photo), Business Development Manager for Bournecoast said: "Before Christmas last year we predicted there would be a sharp rise in investment acquisitions with an increase in BTL mortgage applications, but until now there have been very limited products available on the market for investors.

“This documented increase in demand is the most evident sign yet that the hunger for Buy to Let amongst house buyers is back, after a couple of years of fairly stagnant growth,” he said.

"The market is now where we predicted it to be ten months ago. It’s not a case of having a crystal ball but we fundamentally understand the property investment market.

“The obvious levels of expertise allow us to fairly accurately forecast what might happen.

“We really do know what we’re talking about and as a consequence we’ve adapted our business to be in the position where Bournecoast are the area’s property investment solutions provider of choice.

“We offer an unrivalled service which is reflected in the increasing demand from our customers for lettings, which continues to grow."

He added, “We have many waiting tenants and several new properties ripe for investment, coming onto the market, which would be ideal for student lets and are capable of netting approx £4,000 per month in rent.”

With the clear understanding in the local market possessed by Bournecoast, and with the unequalled experience of being established and still family run for over 50 years, it prides itself in providing quality properties and recognising a good investment potential by being able to offer holiday lets on suitable properties to generate even more income.

For information on currently available investment opportunities and to find out more about what makes a good investment, contact the friendly team at Bournecoast on 01202 437888 or visit http://www.bournecoast.co.uk.

Contact  

Bournecoast Ltd

Alex Eaton

01202 437888

www.bournecoast.co.uk

07861 899375 - Mobile Phone

Self-Storage Operators Join OpenTech Alliance’s Robert Chiti for MiniCo Webinar to Discuss the Pros and Cons of Self-Service Kiosks

Phoenix, AZ, Sept. 6, 2011 --(PR.com)-- While many people have heard about self-service kiosks in the self-storage industry, most are unfamiliar with how they actually work.

On September 27, 2011, Robert A. Chiti (top right photo), President and CEO of OpenTech Alliance, Inc., will be joined by a group of self-storage operators from around the country to present the free webinar “The Kiosk Advantage: Self-Storage Operators Unravel Fact from Fiction.”

 The group of presenters will share their personal experiences and explain how self-service kiosks function at their facilities. The presentation will highlight many kiosk enhancements designed to resolve manager-identified issues and include a Q&A with participants. Topics will include the following:

MYTH – Kiosks do not provide personal service

MYTH – All empty storage units must be left unlocked

MYTH – Consumers can make payments at the kiosk while in lien status

MYTH – Using a kiosk means providing 24-hour access to your property

OpenTech Alliance, Inc., is the sponsor of the webinar. The leading developer of innovative self-storage solutions, OpenTech Alliance, Inc., offers self-storage kiosks, call center services and an online self-storage reservation solution.

For more information or to register, visit http://www.ministoragemessenger.com/. Online registration is required for this free live event.

For more information, please visit: OpenTech Alliance, Inc. – www.opentechalliance.com

Contact:

MiniCo Insurance Agency, LLC

Christa Van Zant

602-678-3568

www.minico.com

Vornado Completes $600 Million Refinancing of 555 California Street in San Francisco

PARAMUS, N.J.--(BUSINESS WIRE)--VORNADO REALTY TRUST (NYSE:VNO) announced today that it has completed a $600 million refinancing of 555 California Street (top left photo), a three-building office complex aggregating 1.8 million square feet in San Francisco’s financial district, known as the Bank of America Center, in which Vornado owns a 70% controlling interest.

The 10-year loan bears interest at 5.10%. The loan amortizes based on a 30-year schedule beginning in the 4th year. The proceeds of the new loan and $45 million of existing cash were used to repay the existing loan and closing costs.

Vornado Realty Trust is a fully integrated equity real estate investment trust.

Contacts: Vornado Realty Trust, Joseph Macnow, 201-587-1000

Embrey Partners Completes Sale of Quarry Village in San Antonio, TX to Dallas-Based Crow Holdings Capital Partners, L.L.C.

SAN ANTONIO, TX--(BUSINESS WIRE)--San Antonio-based Embrey Partners, Ltd. has sold San Antonio’s first urban main street development, Quarry Village (top left photo), for an undisclosed amount to a Dallas-based real estate private equity fund advised by Crow Holdings Capital Partners, L.L.C. (“CHCP”).

The 10.7-acre, mixed-use property includes The Artessa (middle right photo), a 280-unit luxury apartment community, and a 70,785-square-foot retail development. The transaction closed on August 31, 2011.

At the time of sale, the apartment community was 98.5 percent occupied and the retail development, with completion of current tenant finish work and leases under negotiation, will be 90 percent leased by year-end.

 Craig LaFollette (bottom left photo) of Holliday Fenoglio Fowler, L.P., represented Embrey and equity partner Nationwide Insurance in the transaction.

 This is the second Embrey development a CHCP-advised fund has purchased and the third San Antonio apartment purchase since the institutional buyer started investing in the market 12 months ago.

The purchaser has retained Embrey Management Services to provide property management for the Embrey developments as well as The Preserve on Fredericksburg, a San Antonio asset owned by an affiliate of CHCP.

  For more information, visit online at www.embreypartnersltd.com and www.hfflp.com.

 Contacts

Embrey

Debi Pfitzenmaier, 210-669-6911

debi@pfitzpr.com

or

Crow

Asset Manager – Artessa at Quarry Village, 214-661-8000

or

Holliday Fenoglio Fowler

G. Craig LaFollette, 713-852-3500

clafollette@hfflp.com

AREA Property Partners and Adler Group to Acquire and Operate 3.1 Million SF Commercial Property Portfolio in Washington, DC Market

MIAMI, FL--(BUSINESS WIRE)--AP AG Portfolio, LLC - a joint venture between AREA Property Partners (“AREA”) and Adler Group have announced the closing on the first stage of a $350 million purchase of a 3,087,945-square-foot portfolio of multi-tenant office and warehouse assets offered by Washington Real Estate Investment Trust (“WRIT”) in the Washington, DC market.

This first stage of transactions resulted in the acquisition of 2,284,272 square feet of commercial properties. The final phase of transactions to acquire the portfolio’s remaining 803,673 square feet will be completed in the next two months.

AREA and Adler Group are acquiring the portfolio, which consists of industrial assets comprising the entirety of WRIT’s industrial division and some office properties spanning four DC submarkets, primarily in key Northern Virginia suburbs, but also including strong suburban Maryland locations.

Current occupancy levels across all properties combined is averaging at 79 percent. Both AREA and Adler Group recognize the resiliency of the regional economy as an opportunity to increase occupancy across all properties by retaining valued tenants and reaching out to businesses in various industries looking to fill a wide range of operating space needs.

The properties combined are currently home to some of the nation’s preeminent corporations including GE Healthcare, MedImmune, Raytheon, L-3 Communications, ITT Educational Services and American Honda Motor Company, along with bases of operations for numerous federal agencies.

The average tenant size is 13,000 square feet, with the largest tenant occupying more than 140,700 square feet of industrial space.

“We are bullish on the greater Washington, DC area, and confident that this high-quality portfolio will further flourish under the hands-on asset management skills we bring to the table,” said AREA partner Steve Wolf (top right photo).

Mr. Wolf, who noted that AREA and Adler Group are now the second largest industrial property landlord in the Washington, DC market, said the properties are well located and well-suited for use by the sectors that dominate the region, such as government, intelligence, law enforcement and high-tech users.

 “We will focus on increasing the occupancy rate and maintaining the credit-worthiness and quality of the tenant base to achieve the best results for our investors.”

“We are planning to add value for these assets by taking occupancy levels from the high 70 percentile above the 90 percent mark by focusing on concerted property improvement, marketing and management efforts,” said Matthew L. Adler, chief investment officer for Adler Group.

He added that multi-tenant, management-intensive properties in markets with strong growth potential, such as the ones in the WRIT portfolio, are the type of assets for which the company can employ its expertise in on-site property management, leasing and tenant retention to provide strong value-added services and support that realize an asset’s fullest income-earning capacity.

 For more information on the companies, please visit www.areapropertypartners.com and www.adlergroup.com.

For a complete copy of the company’s news release, identifying the acquired properties, please contact:

AREA Property Partners

Julie Solomon, 212-515-3343

jsolomon@areaprop.com

or

Media inquiries:

Great Ink Communications:

212-741-2977

Roxanne Donovan - roxanne@greatink.com

Mitchell Breindel - mitchell@greatink.com

Jordana Marks - jordana@greatink.com

For Adler Group media inquiries:

rbb Public Relations

Mary Sudasassi, 305-448-6163

Mary.Sudasassi@rbbpr.com

Prudential Mortgage Capital Company hires Scott Heath to originate loans in the mid-Atlantic and the south

ATLANTA, GA--(BUSINESS WIRE)--Prudential Mortgage Capital Company today announced that Scott Heath has joined the firm’s Atlanta office as a loan officer covering the mid-Atlantic, southeast and southwest regions.

Prudential Mortgage Capital Company is the Newark, N.J.-based commercial mortgage lending business of Prudential Financial, Inc. (NYSE:PRU).

Heath will originate commercial mortgage-backed loans for securitization by Liberty Island Group, the recently announced joint venture between Prudential Mortgage Capital Company and affiliates of Perella Weinberg Partners’ Asset Based Value strategy.

He is the second person hired in connection with this joint venture. On August 23rd, Prudential Mortgage Capital Company announced the hiring of Curtis Brunton to originate loans in the western region.

For more information, please visit http://www.news.prudential.com/.

Contacts: Prudential, lJohn Chartier, 973-802-9829, john.chartier@prudential.com

ARA Reports Sale of the East Orange/UCF Multi-family Community of Pine Harbour in Orlando, FL

Orlando, FL (Sept. 6, 2011) — Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of Pine Harbour (top left photo), a 366-unit, Class “B” garden apartment community located in one of the strongest submarkets in the Orlando region.

 ARA Orlando-based principal, Kevin Judd (middle right photo); ARA Boca Raton-based principal, Marc deBaptiste (middle left photo), and ARA Tampa-based vice president, Patrick Dufour (bottom right photo), represented the institutional seller in the $31 million transaction.š The property was 95% occupied at the time of the sale.

 Pine Harbour is the second of two properties recently acquired from ARA Florida by the buyer, St-Lambert, Canada-based L.S.R. Development.

 “Situated along the East-West expressway (SR 408) and near major employers, such as Lockheed Martin, Central Florida Research Park businesses, Waterford Lakes Mall and UCF, this property provides an excellent long-term stability option for the buyer,” said Kevin Judd.

 Pine Harbour serves its residents with an extensive amenity package including a clubhouse, fitness center with indoor air-conditioned racquetball, children’s playground, resort-style pool with expansive sundeck, gated entry, tennis and sand volleyball courts.

Units average 940 square feet and are a mix of one-, two- and three-bedroom apartments with vaulted ceilings, screened patios/balconies, carpeted living areas, full appliance packages and washer/dryer connections are included.

Constructed in 1991, the property’s physical attributes and location combine to rank it among the top performing apartment communities in Orlando.

 To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Marti Zenor at mzenor@ARAusa.com, 561.988.8800.

http://www.arausa.com/.