Marcus & Millichap Sells Four-Property Portfolio in Winter Haven, FL and Tampa, FL for $8.8 Million

    

WINTER HAVEN, FL and TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a four property portfolio, located in Winter Haven, and Tampa, Florida, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office. The asset commanded a sales price of $8,820,000.

Michael P. Regan (top right photo), an associate vice president investments and Francesco P. Carriera (top left photo), a senior associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a private investor.  The listing agents also secured the buyer of the property, a private investor from Tampa, Florida.  

“We are seeing a growing trend in “C” quality assets with a more ‘do-it-yourself’ investor profile to capitalize on the upside in management,” comments Regan.

“The sale of this portfolio is one of only a few private transactions that have sold this year in the Tampa Bay area. This portfolio transaction was also not a bank owned or a bank driven sale, which is an additional indication that most bank driven sales have been absorbed and the market for multifamily assets has begun to turn in a direction we’ve all been waiting for,” adds Carriera.

This is a portfolio sale which consists of four properties:  Brandywyne, The Landings, Country Place and Hickory Point.  The properties are located in the cities of Winter Haven and Tampa, Florida, in Polk and Hillsborough County.

Marcus & Millichap Facilitates Sale of Westbury House Assisted Living Facility in New Port Richey, FL

NEW PORT RICHEY, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Westbury House Assisted Living (middle right photo), a 5,713-square foot assisted living facility located in New Port Richey, Fla., according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office. The asset commanded a sales price of $300,000.

Krone Weidler (middle left photo), senior associate and Matt Decker, senior housing specialist and members of the National Senior Housing Group in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the North Carolina-based seller. Ms. Weidler and Luis Baez, also of the firm’s Tampa office, secured the buyer of the property a private investor from Odessa, Florida.

 Westbury House Assisted Living was built in 1969 is located at 7114 North Congress Street.  The property consists of 14 resident rooms, three half-bathrooms and five full bathrooms, kitchen, laundry room, office, dining room and living room. 

 “The buyer plans an extensive renovation of this asset” says Ms. Weidler.  “Once complete, the asset will be licensed as an assisted living facility for 28 residents.  There is tremendous upside and opportunity to add value” adds Ms. Weidler.   

   Armenia Village Condominiums in Tampa, FL Sold for $2 Million

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Armenia Village Condominiums (lower right  photo), a 70-unit apartment property located in Tampa, Fla., according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.

The sales price of $2,050,000 represents $34.02 per square foot.

Casey Babb, CCIM (lower leftt photo), a senior multifamily specialist and Luis Baez (bottom right photo), multifamily specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company based out of Florida. 

The buyer, a private investor, from Louisiana, was secured and represented by Still Hunter, III and Evan P. Kristol, senior vice presidents investments and senior directors of the National Multi Housing Group in Marcus & Millichap’s Ft. Lauderdale office. 

The property was built in 1985 and is located at 8801 Crestview Drive in the Carrollwood area of Tampa.  Armenia Village is a well-kept, fully-stabilized, “Class B” condominium rental community with a mix of one-bedroom/one-bath and two-bedroom/one-bath units averaging 851 square feet. 

“In the current marketplace, competition for certain multifamily assets is causing buyers to conduct their physical due diligence on the front end, which was the case for Armenia Village” says Babb. “The buyer submitted a non-contingent offer and closed in under 40 days, subject only to receiving clean title” adds Babb.

 Press Contact:  Bryn D. Merrey, Vice President/Regional Manager, Tampa, (813) 387-4700

Post Properties Announces Prepayment of Secured Notes

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS) (the “Company”), an Atlanta-based real estate investment trust, announced that certain wholly-owned subsidiaries (the “Borrowers”) of its operating partnership, Post Apartment Homes, L.P., prepaid the aggregate outstanding principal amount of approximately $184.7 million on six multi-family fixed rate notes with the Federal Home Loan Mortgage Corporation.

 The notes were secured by mortgages on six properties located in Atlanta, GA, Charlotte, NC, and Dallas, TX. The notes required fixed interest-only payments at 6.09% and would have matured on November 1, 2014.

The Borrowers also paid an aggregate $6.2 million prepayment premium in connection with the prepayment of the notes.

The Operating Partnership used $135 million of borrowings under its existing $300 million unsecured revolving line of credit and available cash to finance the prepayment of the notes and the payment of the related prepayment premium.

Such line of credit borrowings will bear interest at a rate of LIBOR plus 2.30%. The Operating Partnership intends to refinance the amounts drawn under its revolving credit facility with an unsecured long-term bank financing during the first quarter of 2012.

The Company expects to record a loss on debt extinguishment of approximately $7.0 million, or approximately $0.13 per diluted share, in the fourth quarter of 2011 in connection with the prepayment premiums incurred and the write off of related unamortized deferred financing costs.

This charge was not included in the Company’s previously reported Funds from Operations earnings guidance.

Said Chris Papa, Executive Vice President and Chief Financial Officer of the Company, “The prepayment of these notes and our anticipated unsecured long-term bank financing in the first quarter of 2012 is consistent with our strategy of reducing secured debt levels and borrowing costs over time and refinancing our near term debt maturities.

 “ In that regard, we were pleased that Moody’s Investor Service last week affirmed the Company’s senior unsecured credit rating of Baa3, and revised the Company’s outlook to positive from stable, reflecting the improvements that the Company has made to its credit profile.”

Contact:

Post Properties, Inc.

Chris Papa, 404-846-5000

Cousins Properties Announces Sale of Industrial Assets; Remaining Industrial Buildings and Texas Industrial Land Sold for $72.2 Million

  

ATLANTA, GA--Cousins Properties Incorporated (NYSE: CUZ) announced  the sale of its two remaining industrial buildings, along with the remainder of its Texas industrial land for total proceeds of $72.2 million. Cousins’ share of the proceeds totaled $65.2 million.

King Mill Building 3, a 796,450-square-foot building in Atlanta, Georgia, was sold to an affiliate of IDI.

Lakeside Ranch Building 20, a 748,831-square-foot building in Dallas, was sold to Duke Realty. Included in the sale were two land parcels within the Lakeside Ranch Business Park (top left photo) and an additional development site in Lancaster, Texas. Remaining Industrial Buildings And Texas Industrial Land Sold For $72.2 Million

Contact:

Cousins Properties Incorporated

Cameron Golden, 404-407-1984

Director of Investor Relations and Corporate Communications

camerongolden@cousinsproperties.com

http://www.cousinsproperties.com/

Faris Lee Investments Completes $9.6 Million Sale of Single-Tenant Retail Property Occupied by LA Fitness in Hemet, CA

IRVINE, CA – Faris Lee Investments, the nation’s largest retail-specialized investment advisory firm, has completed the $9.6 million sale of a 50,000 square foot retail property that is occupied by LA Fitness (top left photo). Situated on 5.61 acres, the property is located at 220 North Sanderson Ave. in Hemet, California.

Shaun Riley (middle right photo), director with Faris Lee Investments, represented the buyer in the transaction, a private trust from Beverly Hills who was in a 1033 exchange.

 The seller, Eden Group, LLC from Pleasanton, Calif., was represented by Marcus & Millichap. 

The property sold at a 7.6 percent cap rate which, according to Costar, is the lowest cap rate obtained for a single tenant health club-occupied property in the United States since July 2008.

The key to the transaction for Faris Lee was sourcing an asset for the buyer who was originally seeking a drug store property such as a CVS or Walgreens which offered long-term, passive returns.

Faris Lee advised that other assets, such as a health club property could be acquired at a much better yield. Additionally, the financing market has improved and financing terms would be similar to that of a drug store.

“The buyer was yield-driven and was looking for a strong credit, single-tenant investment in Southern California,” said Riley. “After conducting a thorough search of the marketplace, we advised our client on the possibility of acquiring the Hemet LA Fitness as a strong option since the tenant had the financial strength the buyer required and had more than 12 years remaining on the lease term.

“The pricing, cap rate, and the opportunity to finance the property with new debt that could be obtained at a historically low interest rate, also appealed to the buyer.”

Riley added that ultimately, the buyer placed long-term financing on the property at 240 basis points lower than the cap rate, which provided the buyer with a 10 percent cash return going in, not to mention future rent increases.

The property is located just off Hemet’s busiest commercial intersection at Florida Ave. and Sanderson Ave. with combined traffic counts of more than 70,000 vehicles per day. Nearby retailers include Home Depot, Target, Staples, Ross, Lowes and others.

Contact:  Darcie Giacchetto, 949.278.6224, Spaulding Thompson & Associates, For Faris Lee Investments

AC Self Storage Solutions, LLC Acquires Assured Self Storage in South Dallas, TX

    

          

 DALLAS, TX  --  AC Self Storage Solutions, LLC of Newport Beach, CA (AC Self Storage) has acquired Assured Self Storage, a 671- unit, stabilized, positive cash-flow storage facility in South Dallas.

  Assured Self Storage has approximately 71,671 net rentable square feet of storage space and is 82% occupied. Price was not disclosed.

 The seven- year-old facility is located at  8110 South Cockrell Hill Road. Assured will be rebranded AC Self Storage Dallas

 AC Self Storage closed the transaction in less than 60 days from receipt of due diligence materials and nearly two months ahead of the contract closing date. AC Self Storage also closed a new CMBS loan with Wells Fargo Bank N.A. that was funded 40 days after the loan application was submitted.

 “It has been a real pleasure to work with Wells Fargo on this transaction,” said  Troy Downing (top right photo), CEO of  AC Self Storage Solutions.  “Everyone on the lender’s team was professional, thorough, and responsive, allowing us to complete the purchase well ahead of schedule and well before our financing contingency period expired.”

 “We were pleased to help AC Self Storage Solutions succeed financially and we look forward to growing a long-standing relationship with them,” said Christina Langrall (middle left photo)  Assistant Vice President and Commercial Mortgage Underwriter, Wells Fargo Bank N.A.

According to Downing,  terms of the loan were as follows:

65% Loan to Value; 5.9% Interest Rate; 10 Year Term; 30 Year Amortization;

Non-Recourse

·        

Saul Hoppenstein and James Elmore in the Boca Raton office of Berkadia brokered the loan with Wells Fargo Bank N.A. “I have worked with Saul and Jim for many years and they have always done an exemplary job,” said Downing.

 AC Self Storage has contracted with Westport Properties to manage the facility. Westport is the property manager for the entire AC Self Storage portfolio.

 “This has been a very smooth, expedited transaction because of the joint cooperation and diligence of  professionals  on the seller’s side, buyer’s side and the lender’s who were personally committed  to the success of this deal,” said Craig Morris, president, of AC Self Storage Solutions, LLC. (http://www.acselfstorage.com/)

Contact:

Troy Downing, CEO

(949) 335 6638 tdowning@acselfstorage.com

Chris Barnett

415-921-5092   cbarn@aol.com

Survey: 530 Presales At Newly Proposed Condo Towers In South Florida

 MIAMI, FL -- More than 500 preconstruction contracts and reservations have been entered into at six newly proposed condo towers in the tricounty South Florida region as of Dec. 20, 2011, according to a new report from CondoVultures.com.

The preconstruction purchase commitments represent at least 46 percent of the 1,150 proposed units currently being marketed for presales in Miami-Dade, Broward, and Palm Beach counties, according to a new survey of planned developments conducted by the licensed Florida real estate brokerage CVR Realty™.

"Buyer demand for the newly proposed condo towers appears to be stronger than most people would probably think given today's economic climate and remaining unsold developer inventory from the last South Florida real estate boom," said licensed real estate broker Jenny Huertas (lower right photo), whose CVR Realty™ team plans to conduct the South Florida presale survey on a regular basis.

"Our survey suggests that every proposed project is currently selling at prices between $300 and $440 per square foot."

The presale results are based on a December telephone and email survey of developers and/or their exclusive sales representatives for each respective project. Every effort was taken to ensure the accuracy of data but the figures cannot be guaranteed or warranted as preconstruction contracts are not typically recorded with any government entity for public review.

On a project-by-project basis, leading the way in presales is the proposed 96-unit 23 Biscayne Bay tower – which began construction in June 2011 - in the Biscayne Boulevard Corridor of Greater Downtown Miami that has presold 100 percent of the planned units, according to the survey. 

The proposed 192-unit MyBrickell tower (top left photo) in the Brickell Avenue Area of Greater Downtown Miami has presold more than 70 percent of the planned units, according to the survey. 

The proposed 49-unit Apogee Beach tower (top right photo) – which began construction in December 2011 - in the city of Hollywood in Southeast Broward County has presold more than 61 percent of the planned units, according to the survey.  

The proposed 369-unit Sky Palace At Mary Brickell Village (middle left photo) project in the Brickell Avenue Area of Greater Downtown Miami has presold some 51 percent of the planned units, according to the survey.

The proposed 374-unit BrickellHouse tower (middle right photo) in the Brickell Avenue Area of Greater Downtown Miami has presold some 21 percent of the planned units, according to the survey.

The proposed 70-unit Bellini At Williams Island tower  (lower left photo– which began construction in December 2011 - in the city of Aventura in Northeast Miami-Dade County declined to provide presale figures, according to the survey. 

An additional 14 projects with more than 3,000 units have been proposed for the South Florida area but have not yet begun presales, according to the report.  

Fueled by a surge in cash buyers from overseas and prospects of Las Vegas-style casinos being permitted in South Florida, developers are proposing a combined 20 new towers in Miami-Dade, Broward, and Palm Beach counties with 10 projects in Greater Downtown Miami, four towers in Sunny Isles Beach, two towers in Miami Beach, two towers in West Palm Beach, and one tower each in Hollywood and Aventura, according to the CondoVultures.com Preconstruction Condo Projects list.

Developers are proceeding with new construction projects despite the existence of about 4,700 units that remain unsold from the last real estate boom as of Sept. 30, 2011, according to a recent CondoVultures.com report. 

It is unclear how many of the proposed towers could get developed in the short term as construction financing is challenging - and expensive - to secure, industry watchers said.

To overcome the financing hurdle, most of the newly proposed projects are requiring prospective buyers to commit to deposits - to be paid in phases - of as much as 80 percent of the preconstruction contract price, industry watchers said.

During the most recent South Florida condo boom, preconstruction buyers were generally asked for deposits of about 20 percent, industry watchers said. 

 The most recent South Florida condo boom produced nearly 49,000 units in the seven largest coastal markets of Greater Downtown Miami, South Beach, Sunny Isles Beach, Hollywood / Hallandale Beach, Downtown Fort Lauderdale and the Beach, Boca Raton / Deerfield Beach, and Downtown West Palm Beach and Palm Beach Island, according to an analysis based on the Condo Vultures® Official Condo Buyers Guide™ eBook series.  

Condo Vultures® LLC is a real estate consultancy and marketing company based at 1005 Kane Concourse, Suite 205, Bal Harbour, Florida, 33154. You can reach Condo Vultures® LLC at 800-750-0517.

Charles Dunn Co. Completes Three Westside Los Angeles Multifamily Deals Totaling $4.46 Million

 LOS ANGELES, CA.– Kimberly Roberts Stepp (top right photo), managing director with Charles Dunn Company, one of the largest full-service regional real estate firms in the Western United States, has completed three multifamily property sales totaling $4.46 million within Los Angeles’ Westside submarket.

“The Westside multifamily market continues to be sought after by investors and is seeing low cap rates in the four and five percent ranges,” said Stepp. “All three of these properties were fully occupied and vacancy rates in the submarket are around 2 percent, providing further testimony that the rental market here is thriving.”

Stepp represented both sides on each of the three transactions. Following are details on the sales:

A 6-unit property located at 1243 Berkeley Street in Santa Monica just south of Wilshire was sold for $1,562,000. All the units are over 1,300 square feet and include two bedrooms and two bathrooms which offer balconies or patios.

The seller was Baumgarten Trust and the buyer was TS Property Management, LLC. The closing cap rate was 5 percent. According to Stepp, escrow closed in just 45 days and the property represented a 36 percent upside in rents.

 A five-unit property located at 8351 W. Manchester Ave. in Playa del Rey (middle  left photo)  near the ocean was sold for $1.2 million. It includes a three-bedroom unit; two, two-bedroom units; and two, one-bedroom units.  The seller was Edith Tirany and the 1031 Exchange buyer was Nikbin Investments. The closing cap rate was 5.5 percent. The transaction closed in just under 60 days.

 A 6-unit property located at 1108 19th Street in Santa Monica just north of Wilshire was sold for $1.7 million. It includes a three-bedroom front house and the rest are two-bedroom units. The seller was Mizrahi Trust and the buyer was Shaffid, Inc. The closing cap rate was 4.2 percent.  Stepp identified a buyer in just one day and escrow closed in 14 days.

 Contact:  Darcie Giacchetto, D.G. Communications, Inc., 949.278.6224

http://www.charlesdunn.com/

Merida Real Estate Market's Top 10 Trends in Mexico

MERIDA, Mexico, Dec. 23, 2011 /PRNewswire/ -- Considering how bleak the real estate market has been in many corners of the globe, all things considered, Merida's market has performed pretty well.

There are several strong trends that are influencing the growth of the marketplace in Merida. It appears those trends will remain strong even in the face of uncertain economic news out of the EU, China and the USA.

The 10 trends supporting continued growth in the Merida real estate market:

1. Strong demand from Mexican buyers, investors and renters. The primary engine powering the growth of Merida is internal growth from around the Country of Mexico. Mexicans from Mexico City, Monterrey, Guadalajara and Veracruz - and other Mexican cities - are moving to Merida to enjoy the lifestyle, cost of living and safety.

2. Infrastructure investments. New bridges, highways, government buildings, universities, trade schools, museums, hotels, shopping centers, cultural centers, markets, electrical grid, renewable fuel resources and new neighborhoods/schools.

3. Cost of living advantages. Merida has rich, middle class and poor. There are markets that serve all groups and government programs to aid the very poor. You can shop at stores like Costco, Sears, Sam's, or Walmart. But the best buys for your produce, food and household products will be found at the local markets and flea markets.

(Mexico City downtown cathedral, middle left photo)

4. Public Safety. Despite a swiftly growing populace and the demands it puts on policing, public safety and the criminal justice system, Yucatan remains one of the lowest crime-rate states in Mexico. 

5. Demand from foreign buyers, investors and renters. A strong influx from mostly Canadians, Americans and Europeans looking for a tropical lifestyle that provides a greater flexibility in cost of living, lower taxes and household expenses.

 Most foreigners feel welcome by the Mexican and the Yucatecan populace. They feel safe and secure - knowing their resources go further here and they can count on top-quality health care, shopping, culture and policing.

6. Large educated workforce. Business moving to Merida can count on a large pool of educated young people to help them grow their businesses. Additionally, the local pueblos also provide a strong resource of construction and manual laborers.

7. Excellent and inexpensive health care facilities, doctors and hospitals. Dentistry, Plastic Surgery, Therapist, Cancer Specialist, Nutritionist, Veterinarians, Dermatologist and in-home health professionals all contribute to making Merida the perfect option for anyone living with a long-term health issue or anyone just wanting to know that, in case they need it, excellent and reasonably priced health care is locally available.

8. Excellent universities, trade schools, cultural arts schools and language schools provide a vast menu of institutions to provide for continuing education, higher education or alternative learning centers.

9. Tropical weather and local beach. Accessibility to great beaches, water sports, fishing, marinas, growing and enjoying year-round gardening, fruit trees and tropical flowers and plants makes for year-round comfort and many enjoyable outdoor activities.

10. Mayan culture and ruins (middle right and lower left photos), shopping, cinema, art studios, theater, restaurants, night life, casinos, cantinas, symphony orchestra, opera, fabulous Yucatecan, Italian, Cuban, French, Irish, Asian, Mexican, Seafood, chops, steaks, wine bars, boutique chocolates, specialty shops and much more.

The Christian Science Monitor's Sara Miller Llana, reported on Merida:

http://www.csmonitor.com/World/Global-News/2011/0513/Mexico-s-island-of-security

For more information on Merida, tourism, language schools and real estate opportunities in Yucatan click on the following links:

http://mexintl.com/

http://yucatantoday.com/

http://www.yucatanliving.com/

http://intheyucatan.com/

http://www.thetruthaboutmexico.com/

http://www.habla.org/en/about-us/merida-mexico/

Contact:

Mitchell Jay Keenan, CRS - Broker/Director of Mexico International Real Estate

USA Toll Free: 866 888 3025

Mexico: +52 999 920 6856

Email: miguelsmexico@gmail.com

Website: http://www.mexintl.com

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com/.

Colliers International Sells a Portfolio of Five CVS Assets in Ohio and Pennsylvania

LOS ANGELES, CA, Dec. 22, 2011 – Colliers International, the third largest global real estate services organization, has completed a portfolio of five CVS assets totaling 52,416 square feet and $11 million in transaction values.

 Tom Lagos( top right photo) Director of Retail Services Group; Shawn Bakke (lower left photo), Senior Vice President; and El Warner, Associate Vice President, all based in Colliers’ Downtown Los Angeles office, represented the Seller, a private investor out of Ohio and the Buyer, Cole Real Estate Investments of Phoenix, AZ.

 “In order to maximize value for the Seller we developed a strategy of segregating the properties into separate pools so that each pool would appeal to a separate buyer class,” said Lagos.

 “We successfully negotiated a favorable payoff for each of the attached loans despite the contractual yield maintenance costs and this resulted in increased proceeds for the Seller,” added Warner.

 “This is a high quality acquisition for Cole as each of the five CVS stores are well located within their respective trade areas and have a history of strong sales performance,” said Brian Garrigan, Director of Acquisitions at Cole Real Estate Investments.

  Follow us at www.twitter.com/colliersgla.

 Contact:

 Angela S. Hwang

Regional Marketing Coordinator | Greater Los Angeles

Dir +1 213 532 3258 | Mob +1 310 867 4105

Main +1 213 627 1214 | Fax +1 213 327 3258

angela.hwang@colliers.com

Colliers International

865 S Figueroa St., Suite 3500 | Los Angeles, CA 90017 | USA

http://www.colliers.com/

Commercial Asset Partners closes $3.2M sale of fully-leased shopping center in New Port Richey, FL

  

 NEW PORT RICHEY, FL  (Dec. r 22, 2011) – Reflecting an increase in investment activity in the Pasco County commercial real estate market, Commercial Asset Partners (CAP) Realty closed the sale of a 14,000-square-foot shopping center in New Port Richey, Fla. for $3.2 million, or $229 per square foot.

The 100-percent-occupied retail center was sold by Streetside Tampa LLC, which was represented by Heidi Tuttle-Beisner (top right photo) Broker-Owner of CAP Realty. The buyer, Atlantic Emerald Irrev Trust, was represented by Elliot Ross, CCIM of The Ross Realty Group.

Built in 2007, the shopping center at 8344-8406 Little Road in New Port Richey, Fla. has a roster of quality tenants, including Papa Murphy’s – a “take n’ bake” pizza company, Planet Beach, Dunkin’ Donuts, T-Mobile, Shenanigan’s Irish Pub, The UPS Store and Firehouse Subs. The center has a strong tenant history and is in a high-traffic area.

“Selling shopping centers can be challenging, because of the problems in the retail sector of the economy,” said Tuttle-Beisner. “But this center attracted significant interest because it has a very strong tenant base, great location and visibility, and is only a couple years old – making it an attractive investment opportunity to the buyer.”

CAP is also seeing an increase in office transactions in the northern areas of the Tampa Bay region, recently completing a lease and sale:

Sunbelt Staffing leased 16,000 square feet in the Bay Arbor Place mixed-use development at 3687 Tampa Road in Oldsmar, Fla. The landlord was represented by Heidi Tuttle-Beisner and the tenant was represented by Mohr Partners of Dallas, Texas. Sunbelt Staffing is relocating in the same market and will move about 70 employees to the new facility in March.

EMSI Public Relations purchased 3,000 square feet of office space for $303,760 at Red Fern Professional Park, located at 3748 Turman Loop in Wesley Chapel, Fla.

The seller, Tiger Investment Group, Inc., was represented by Theresa Margaris (middle left photo) of CAP Realty, and the buyer, Steven and Marsha Friedman of EMSI, was represented by Ben Kreloff of ProCorp Realty in Clearwater, Fla. The space went under contract and closed in less than 30 days.

One of the top mid-sized commercial real estate companies in the Tampa Bay area, CAP Realty handles leasing and sales of retail, office and industrial properties, along with helping clients with real estate investment sales and land transactions.

Based in Trinity, Fla., Broker-Owner Heidi Tuttle-Beisner and her team have built a company that has the experience and resources to handle a wide range of assignments, while offering a high level of personal service for each client. For more information, see the company’s website at http://www.caprealtypartners.com/

Media Contact:         

Kyle Parks

(727) 895-5030 x101 (o)

(813) 352-1325 (c)

Kyle@BayviewPR.com

Tom Richards Joins Voit from Colliers

  

Phoenix, AZ (Dec. 22, 2011) – Voit Real Estate Services’ Phoenix office has announced the addition of Tom Richards (top right photo) to its brokerage team, according to Todd Brown (lower left photo), Managing Director of Voit’s Phoenix office.

 As an investment sales specialist, Richards brings with him extensive knowledge in all areas of the Phoenix retail, office, and industrial markets.

“As Voit’s Phoenix office continues to take on new assignments, we are diligent in our recruitment of the top professionals in our industry,” said Brown. “Tom founded two successful commercial real estate development and investment firms in Arizona, and brings a wealth of experience and regional knowledge to Voit’s brokerage team.”  

Prior to joining Voit, Richards served as an Associate Vice President at Colliers, where he specialized in retail, office and light industrial investment sales, with a focus on properties under $10 million.  He is experienced in investment and market analysis; sales and leasing; land acquisition; entitlements; legal and financial structures; financing; construction management; and asset management.

Richards began his commercial real estate career with Colliers in 2000, and spent two years specializing in sales and leasing of office, industrial, and retail properties.  In 2002, he was the Founding Partner and Designated Broker at Baja Commercial, a successful boutique commercial real estate company that developed and redeveloped retail properties throughout Arizona.

 Richards holds a Bachelor of Science in real estate from Arizona State University.

Further information is available at www.voitco.com.

Contact: 

Judith Brower

Brower, Miller & Cole

(949) 955-7940

JBrower@browermillercole.com

Progress on New Community Park Brings Holiday Cheer to Santa Ana, CA Families

SANTA ANA, CA – In a densely populated, immigrant community with few, if any, recreational facilities, parents gathered on Saturday, December 17 for a Christmas celebration at the site of the new .6 acre park and community center (top left rendering).

The start of construction on the park is the happy progression of years of effort to bring much-needed recreational facilities to the 92701 zip code in downtown Santa Ana, Calif.

 “Seeing the trucks come in to make our park is a dream come true,” said resident Edith Melchor, a member of the group, Parents with Green Hearts, which lobbied for the park’s creation. “The park under construction makes it a real Christmas now.” The group also put their wishes for health on a Christmas tree on the barren land, which will be a completed park by summer.

 “This land is more than dirt. This land is the dream of ten years for our community to have a place where our children can play,” said Latino Health Access CEO America Bracho (middle right photo). The park began after one mother brought the idea to Latino Health Access. Since then, parents have joined to form Parents with Green Hearts.

 The $3.6 million park is being built by Latino Health Access, on land leased from the City, with the commitment and assistance of many community partners in planning, designing and moving the project forward.  The park is historic as the first community-driven recreational and educational public space of its kind promoting health and wellness in a resource-challenged community.

 

 McCarthy Building Companies, Inc., its design-build partner TAYLOR and St. Joseph Health System have donated more than 2,000 hours of architectural and preconstruction services. Moreover, McCarthy will provide construction services at a discounted rate to Latino Health Access through its community volunteer group, the McCarthy Heart Hats.

 For more information on the companies, please visit  http://www.mccarthy.com/   and http://www.taa1.com/.

Contact:  Laura Mickelson, (949) 453-0851 / LauraMickelson@cox.net