Marcus & Millichap Arranges $1.2 Million Sale of 12-Unit Apartment Building in Miami, FL

12-Unit Apartment Building  between West Flagler Street and NW 7th Street, Miami, FL

 

Evan P. Kristol

MIAMI, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of 95 NW 47th Avenue, a 12-unit apartment property located in Miami, according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. The asset sold for $1,200,000 representing $100,000 per unit.

            “The property is located between West Flagler Street and NW 7th Street in a busy commercial corridor near the airport. The complex has historically high occupancy and the buyer has an opportunity to realize an upside by increasing rents,” says Alejandro J. Gonzalez, an associate in Marcus & Millichap’s Fort Lauderdale office.

Gonzalez along with Evan P. Kristol, a senior vice president investments, and Felipe J. Echarte, a vice president investments, who are also based in Marcus & Millichap’s Fort Lauderdale office, represented the seller, a private investor from Hialeah, Fla., and the buyer, a private investor from Miami.

The apartment building was constructed in 1963 and sits on a 0.28-acre lot. It is comprised of two efficiencies and 10 one-bedroom/one-bathroom units.

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

Ryan Nee

Regional Manager

 Fort Lauderdale, FL

(954) 245-3400

ConAm Group Announces Final Closing of its Multifamily Investment Fund with $120 Million in equity Commitments

Rob Singh

SAN DIEGO, CA – The ConAm Group (ConAm) has announced the final close of its fund, the ConAm Multifamily Acquisition Fund, which completed its $120 million capital raise, according to Rob Singh and Bob Svatos, Co-Presidents of ConAm.

“With a strong group of private investors, we were able to secure equity commitments and complete the capital raising for the fund in record time,” says Singh. “We expect to deploy Fund capital into approximately $400 million in multifamily properties, generally in Western U.S. markets.”

The ConAm Fund has invested approximately 55 percent of the capital through its acquisition of five multifamily properties in 2015, totaling approximately 1,300 apartment units and more than $170 million in asset value.

Fund properties acquired to date represent a geographically diverse portfolio with properties located in Denver, the East San Francisco Bay Area, Phoenix, Las Vegas and the Seattle metropolitan area. ConAm will continue to target well-located multifamily properties with a value-add opportunity for its Fund. 

O’Melveny and Myers, LLP served as counsel to the ConAm Fund and its related entities.

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

Miki Conant or Lexi Astfalk

Brower, Miller & Cole

(949) 955-7940

Mconant@browermillercole.com

www.conam.com.

Lincoln Signs More Than 33,000 Square Feet of Leases at Newly Renovated Lenox Center in Atlanta, Brings Property to 95 Percent Occupancy

Jeff Henson

ATLANTA, GA  – Lincoln Property Company Southeast (Lincoln) has brokered 11 office leases totaling 33,781 square feet at Lenox Center, located in Atlanta, following a sizeable investment into the renovation of the building.

The landlord, HD Realty, is now in the process of completing a $1.3 million lobby renovation, including new tile flooring, new millwork, modern lighting, and a stunning new architectural light fixture that acts as a focal point in the seating area.

Furthermore, all walls have been refinished with an elegant custom feature tile, and a new interactive electronic building directory system has been added.

The 11 recent leases bring the building to 95 percent occupancy. Jeff Henson, Hunter Henritze and George Gwaltney of Lincoln represented the landlord in the transactions.

The details of the transactions are below:

·      Primrose Schools signed a new 10,940-squre-foot lease. Josh Gregory of Colliers International represented the tenant. The Tenant took the entire Terrace Level of the building that had been vacant for over a decade.  A complete renovation and design-build was completed to meet the needs of the Tenant, along with the creation of a full outdoor playground area.

Julie Gudger

·      Carl J Franzman, P.C., signed a 1,995-square-foot lease renewal. Trevor Smith of Cresa Atlanta represented the tenant.

·      The Mutual Fund Store signed a new 1,002-square-foot lease. Frank O'Neill of The Arlington Group represented the tenant.

·      Chapes JPL, LLC, signed a 1,691-square-foot lease renewal. Julie Gudger of Southeast Realty Advisors, Inc. represented the tenant.

·      Midway Insurance signed a 2,428-square-foot lease renewal. Clinton McKellar of Cushman & Wakefield represented the tenant.

·      Legacy Marketing Solutions, LLC, dba Equity Prime, signed a new 1,994-square-foot lease. 

·      Peachtree Offices at Lenox, Inc. signed a 3,918-square-foot lease expansion. Herb Rudd of Southeast Realty Advisors, Inc. represented the tenant.

Christine Gorham

·      Chanco Schiffer, P.C., signed a new 2,450-square-foot lease. Julie Gudger of Southeast Realty Advisors, Inc. represented the tenant.

·      Midway Insurance SF signed a 4,804-square-foot lease expansion. Julie Gudger of Southeast Realty Advisors, Inc. represented the tenant.

  

·      Patrick Ryan King signed a 1,229-square-foot lease renewal. David Dixon of NAI Brannen Goddard represented the tenant.

·      CitySwitch II, LLC, signed a new 1,330-square-foot lease. Beau Terrell of Highgate Partners represented the tenant.

      The Atlanta Women's Foundation signed a new 3,513-square-foot lease. Christine Gorham of Eastwood Real Estate represented the tenant.

·      Auction.com signed a new 2,232-square-foot lease.  Nima Ghomghani with CBRE represented the tenant.

“HD Realty’s investments in Lenox Center are paying off and have pushed the building to near stabilization,” Henson said. 

Nima Ghomghani

“Lenox Center offers a premier location in the heart of Atlanta’s highly desirable Buckhead submarket, an attentive property management team and on-site security guards, all qualities that today’s office tenants are seeking.”

In addition to the lobby renovation, new canopies and tile have been added to the property at the front and rear access points, along with new signage for the building.

The façade has been painted with a modern accent color and new landscaping has been added along Lenox Road to enhance the property’s appearance, along with the planting of new trees in the Primrose playground area.

The parking deck has undergone a complete lighting retrofit with LED fixtures for efficiency and reduced energy consumption.

HD Realty also completed the makeover of six floors during the first half of 2015. A new HVAC system was installed on the Terrace Level along with an entirely new efficient Energy Management System servicing the entire building.

All three elevator cabs also underwent a total renovation with new millwork, flooring, and lighting. Renovations of the three remaining floors will be completed in the first half of 2016.

Lenox Center is located at 3355 Lenox Road within walking distance of Lenox Square Mall and Phipps Plaza, as well as a variety of hotels and fine dining options.

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

Savannah Durban

The Wilbert Group

404-343-0870

sdurban@thewilbertgroup.com

HFF secures $200 million credit facility for Abacus Capital Group LLC

Mona Carlton

DALLAS, TX – February 16, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured a $200 million credit facility for Abacus Capital Group LLC (Abacus).  The first asset, which funded into the credit facility is The Point at Perimeter, a two-phase, garden-style multi-housing community totaling 603 units in Dunwoody, Georgia. 

Working on behalf of a fund advised by Abacus, HFF secured the floating-rate credit facility through Freddie Mac’s (Federal Home Loan Mortgage Corporation) CME Program.  The loan will be serviced by HFF through its Freddie Mac Program Plus® Seller/Servicer program.

The two phases of The Point at Perimeter, the 365-unit Ashford and 238-unit Dunwoody, operate as separate properties with their own set of amenities, including resort-style swimming pools with sundecks, 24-hour fitness centers, indoor racquetball courts, clubrooms and car care centers.

  Both phases offer a mix of one-, two- and three-bedroom floor plans averaging 934 square feet each.  Situated on 12.172 acres, The Point at Perimeter is located at 100 Ashford Gables Drive, approximately 15 miles north of downtown Atlanta and convenient to Interstate 285, State Highway 400 and Perimeter Mall.  The community is 96 percent leased overall.

The HFF debt placement team representing the borrower was led by senior managing director Mona Carlton.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

HFF closes sale of mid-rise apartment community in Hillsboro, OR

                                                                                                (Photo by Red Studio Inc.)

Platform 14 Apartments, 1030 NE Orenco Station Parkway
in the Orenco Station master planned community, Hillsboro, OR

                                                                                                                   

PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Platform 14, a 177-unit, podium-style, mid-rise apartment community in Hillsboro, Oregon.

HFF marketed the property exclusively on behalf of the seller, Holland Partner Group and its finance partner.  Invesco Real Estate purchased the asset for an undisclosed amount.

Ira Virden

Platform 14 is situated on approximately 2.34 acres at 1030 NE Orenco Station Parkway in the Orenco Station master planned community within walking distance to Intel, which employs 17,500 people locally.

 Completed in 2012, the four-story, transit-oriented property has 125 one- and 41 two-bedroom units, as well as 11 spacious live and work units with one bedroom/two bath layouts. 

Property amenities include 16,057 square feet of ground floor retail, an 8,000-square-foot sky deck with barbecue, bar and community garden, community kitchen, lounge, bike storage and garage parking.

The HFF investment sales team representing the seller was led by managing director Ira Virden.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.invescorealestate.com.

SG Contracting Wins 10,000-Square-Foot Renovation at Lutheran Towers in Atlanta, GA

  

 

Lutheran Towers, Atlanta, GA

ATLANTA, GA (Feb. 17, 2016) — SG Contracting, an Atlanta-based general contracting and construction management company, has won an appointment to renovate half of the first floor, approximately 10,000 square feet, at Lutheran Towers, a 16-story independent living facility. The renovation is scheduled for completion in June 2016.

“We are excited to have been selected for this project, as Lutheran Towers is an iconic building located in the heart of Midtown Atlanta,” said Sachin Shailendra, president of SG Contracting. “Seniors housing has been, and will continue to be, a hot property sector as baby boomers continue to age.”

Interior work will include asbestos remediation, and reconfiguration of the entry and reception area, administration offices, public restrooms and elevator lobby. Exterior work will include the replacement of the entry-level storefront, and reworking of 1,500 square feet of existing driveway, sidewalks, and planting areas to ensure ADA access.

Residents have easy access to shops, restaurants, parks, theaters, museums, worship opportunities, MARTA, and medical services in the area.

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

Savannah Durban

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sdurban@thewilbertgroup.com

www.sgcontractinginc.com.

NAIOP South Florida Honored for Education Contributions

MIAMI, FL -- (From left) NAIOP President and CEO Thomas J. Bisacquino, Joyce Werzer of Legacy Bank of Florida, Darcie Lunsford of Butters Realty & Management, 2015 NAIOP South Florida President Traci Miller of Miller Construction Company, NAIOP South Florida Executive Director Jules Morgan and NAIOP Chairman Ashley Powell celebrate NAIOP South Florida’s win in the education category at the Chapter Merit Awards, which recognize the achievements of NAIOP chapters across the nation.

NAIOP is a commercial real estate development organization. It provides strong advocacy, education and business networking opportunities and connects its members through a powerful North American network.

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

Lexi Robinson

lrobinson@piersongrant.com

www.naiopsfl.org.

MHA Brokers $38.1 Million Sale of Three Apartment Communities in Charlotte, NC

  

Mission Harris Pavilion Apartments, Charlotte, NC

 CHARLOTTE, NC (Feb. 17, 2015) — Multi Housing Advisors (MHA) has arranged the $38.1 million sale of the Middleburg Mission Portfolio located in Charlotte, North Carolina. The 618-unit portfolio consists of three apartment communities built between 1997 and 1999.

Mission Reedy Creek Apartments

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Mission Charlotte DST, in the transaction. The properties were purchased by LIV Apartment Partners, LLC.

“Charlotte continues to demonstrate some of the strongest multifamily fundamentals in the country, reaffirming its position as a top market going into 2016,” Robinson said. “This portfolio provides the buyer with a strategic investment in a region poised to provide promising returns for years to come.”

Details of the deals are below:

·        Mission Harris Pavilion, a 249-unit property built in 1997, is located at the intersection of University City Boulevard and Interstate 485 in the University Area. The desirable neighborhood anchored in education and innovation, is situated within minutes of the area’s most dense clusters of employment and retail, including 23 Fortune 500 companies and over 25 energy, research and technology focused companies.

Mission Control Place Apartments

·        Mission Reedy Creek, a 207-unit property built in 1999, is located on East WT Harris Boulevard, a highly travelled thoroughfare that provides convenient access to the nearby employment nodes of Uptown and University City. The established suburb around Mission Reedy Creek is forecasted to grow in population.

·        Mission Concord Place, a 162-unit property built in 1997, is located in a desirable and fast growing city in the Charlotte MSA. It is a highly accessible location tucked off Interstate 85, providing quick access to Charlotte in addition to the Triad and Triangle Regions of North Carolina.

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

www.usmha.com.

Griffin-American Healthcare REIT IV Initial Public Offering Declared Effective by the U.S. Securities and Exchange Commission

  

IRVINE, CA  (Feb. 17, 2016) – Griffin-American Healthcare REIT IV, Inc. today announced that its registration statement pertaining to an initial public offering of approximately $3.15 billion in common stock was declared effective by the Securities and Exchange Commission on Feb. 16, 2016.

Griffin-American Healthcare REIT IV intends to qualify as a real estate investment trust for federal income tax purposes and will offer up to 300,000,000 shares of its common stock for sale at $10.00 per share and up to an additional 15,789,474 shares of its common stock for issuance under its distribution reinvestment plan at $9.50 per share in a publicly registered, non-traded offering.

Griffin-American Healthcare REIT IV intends to invest in a portfolio of healthcare real estate assets, focusing primarily on medical office buildings, senior housing facilities, skilled nursing facilities and hospitals.

A copy of the final prospectus for the offering is available without charge upon written request addressed to Griffin-American Healthcare REIT IV, Inc., c/o Griffin Capital Securities, LLC, 18191 Von Karman Avenue, Suite 300, Irvine, Calif. 92612. Phone inquiries may be directed to (949) 270-9300. The prospectus is available electronically at www.HealthcareREIT4.com.

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

Damon Elder                                                                                       

  (949) 270-9207

  delder@ahinvestors.com

www.AmericanHealthcareInvestors.com

American Realty Advisors Acquires Industrial Asset in Central Pennsylvania’s I-81 Corridor

  

Warehouse-Distribution Property, 2 Ames Drive, Carlisle, PA

 

Michael HInes

PHILADELPHIA, PA, Feb.17, 2016 – American Realty Advisors announced the acquisition of a modern, cross-docked bulk warehouse/distribution property located at 2 Ames Drive in Carlisle, Penn. The Class A building, which encompasses 700,000 square feet on over 53 acres, is currently 100 percent leased to a Fortune 50 tenant through 2024.

According to Eric Cannon, American’s Senior Director, Investments, this acquisition will make a great addition to American’s industrial portfolio, as the purchase secures a high-quality, Class A property that features a significant amount of recently-added landlord and tenant improvements.

“This property is an ideal addition to our core industrial portfolio. The center’s great location in a key logistics market, its high quality construction, and the fact that it is fully leased long-term to a credit tenant are three factors that we believe will provide our investors with an attractive current income stream,” says Cannon.

The seller is a joint venture between Dermody Properties and PCCP, LLC, which was represented by Michael Hines and Brian Fiumara of CBRE National Partners.

The facility is located one mile from Interstate 81 at Exit 44 in Carlisle, which is widely considered the hub for super-regional bulk warehousing and distribution within the greater Central Pennsylvania region.

Cannon notes that “the I-78 / I-81 Industrial Corridor has exhibited significant net absorption in the past several years – over 20 million square feet of industrial space was leased from 2014 through mid-2015. 

"This area has become a Tier One East Coast inland market, with top industrial tenants including FedEx, Proctor & Gamble, Nordstrom, Georgia Pacific, and Walmart all occupying distribution space in the Corridor.” 

Brian Fiumara

“This facility provides its tenant easy access to the region’s transportation infrastructure, including highway, intermodal and parcel hubs, to cost effectively distribute goods throughout the entire Northeast region,” said Gene Preston, Partner, Dermody Properties East Region Office.

Acquired by Dermody Properties in 2012, with tenant improvements completed in late-2014, the property features 32’ clear height, full air conditioning, 481 car spaces, 149 trailer spaces, T-5 lighting, and 8,000 amps of power, and was designed and constructed to LEED core and shell standards. 

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

Lexi Astfalk / Jenn Quader for American Realty Advisors

Brower, Miller & Cole

(949) 955-7940

LAstfalk@browermillercole.com

Julia Kruper for Dermody Properties

(775) 686-7413

 Julia@kps3.com

www.pccpllc.com.

www.Dermody.com.

www.americanreal.com.

Tenzer Attorneys Ari Tenzer and Adriana Blanco Maurisset Represent Owner of Planned Hard Rock Hotel & Casino Santo Domingo

Adriana Blanco Maurisset

MIAMI, FL —Feb. 16, 2016 -- Tenzer PLLC Member Ari M. Tenzer and Associate Adriana Blanco Maurisset have completed the successful negotiation of a hotel license and casino management agreement on behalf of the owner of the planned Hard Rock Hotel & Casino Santo Domingo in the Dominican Republic.

Construction of the 400-room hotel and state-of-the-art casino commenced with a February 9 groundbreaking ceremony attended by Dominican Republic President Danilo Medina.

Tenzer and Blanco Maurisset, who have extensive experience advising domestic and international clients in hospitality industry transactions, were the only outside counsel involved in the entire deal. 

The Miami-based law firm has represented the Hard Rock Hotel & Casino Santo Domingo owner, a Cancun-based group with a vast portfolio of Hard Rock-branded hotel properties, in negotiating agreements for nearly all of its Hard Rock hotels in Latin America and the Caribbean.

Hard Rock Hotel & Casino Santo Domingo is the ownership group’s second property in the Dominican Republic. The group also developed and operates the 1,800-room Hard Rock Hotel & Casino Punta Cana, one of the largest hotel and casino properties in the Caribbean. Tenzer also represented the group in negotiating and closing a license and casino management agreement for the Punta Cana property in 2009.

Ari Tenzer

“The Dominican Republic is unquestionably a very hot market for hospitality and gaming,” Tenzer said. “The ambitious Hard Rock Hotel & Casino Santo Domingo project underscores our client’s confidence in the market.

" Big international hotel brands are increasingly attracted to the nation as travelers realize Las Vegas and the Bahamas aren’t the only appealing options for upscale, non-cruise ship casinos with all of the popular gaming options.”

To complete the Santo Domingo deal, Tenzer and Blanco Maurisset negotiated five separate agreements, including the main hotel and casino agreements and three ancillary agreements for reservations, sales services and memorabilia. 

They coordinated with local representatives regarding compliance with regulatory requirements and entity formation, and negotiated protections against regulatory changes in the Dominican Republic that may affect the owner’s gaming license. 

They also ensured the hotel and casino agreements worked together while still separating the rights and obligations of the parties under each agreement.

Additionally, the land acquisition for the project required special attention given the desire was to get the deal papered with Hard Rock as quickly as possible, independent of the timing for the real estate closing; it’s a process that is both longer and more complex in civil law jurisdictions like the Dominican Republic than common law jurisdictions like the U.S.

  

Dominican Republic President Danilo Medina

“These kinds of deals are extremely sophisticated, especially when you have two different animals – the hotel and casino – as part of the deal,” Tenzer said. “It is paramount to carefully put the appropriate checks and balances in place to insulate our clients to the fullest extent possible.”

Scheduled for a late 2017 opening, the Hard Rock Hotel & Casino Santo Domingo will include 400 hotel rooms and suites and a 23,000-square-foot casino. It will also feature a screening room and nightclub that opens up to the main pool, along with 33,000 square feet of meeting space.

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

BoardroomPR

Eric Kalis, ekalis@boardroompr.com

Ashley Fierman, afierman@boardroompr.com

(954) 370-8999

Berger Commercial Realty Secures More Than 35,000 Square-Feet in Lease Transactions Across Broward County, FL

Annette Rey Bishop

FORT LAUDERDALE, FL - Berger Commercial Realty brokers Annette Rey Bishop, Joseph Byrnes, Roxanna Collins, Judy Dolan and Jonathan Thiel recently closed six lease transactions throughout Broward County totaling 35,983 square-feet of space.

Represented by Collins, Meredith Baer Homes, Inc. signed a new lease for 14,683 square-feet of industrial space at the Pompano Business Center. Located at 2036 W. Copans Road in Pompano Beach, the 71,228-square-foot institutionally-owned business park features 24-foot clear ceiling heights, dock-high loading, a state-of-the-art fire suppression system and layouts for industrial, manufacturing, warehouse and office space.

Roxanna Collins

On behalf of Rising Tide Development, LLC, Byrnes and Thiel completed a lease extension for 5,850 square-feet of flex space to B.E.S.M., Inc. at Cypress Creek Business Park. Located at 6555 N. Powerline Road in Fort Lauderdale, the 54,600-square-foot business park consists of two buildings just north of Cypress Creek Road and offers flex, office and warehouse spaces starting at 2,000 square-feet. The property is part of a portfolio owned by Rising Tide Development.

Bishop represented Roly & Partners, Inc. in leasing 5,000 square-feet of office space from E.T. Hunter at 1932 Tyler Street in Hollywood. The 7,466-square-foot building consists of three stories and a 40-space parking lot.

Judy Dolan

Dolan and Thiel represented TCPH Broward, LLC in renewing a lease for 4,500 square-feet of flex space to Invision International Health Solutions, Inc. at the Executive Airport Business Center in Fort Lauderdale. Located at 5101 NW 21st Ave., the two-building business park sits on a 6.09-acre lot and consists of 73,130 square-feet of single story office and flex space. The property offers convenient access to I-95, Florida's Turnpike and Fort Lauderdale Executive Airport.

Collins represented Mancini & Sons #2 in renewing a lease for 3,780 square-feet of industrial space to H20 PM, Inc. at the Enterprise Commerce Center in suites J and H. The property consists of two buildings totaling 48,068 square-feet of space and is located at 5051 S.W. 13th Ave. in Deerfield Beach. Built in 2006, the Enterprise Commerce Center features a glass front façade, 18-foot clear ceiling heights, tilt wall concrete construction and overhead drive-in shipping doors.

Joseph Byrnes

 The property is a part of the Mancini & Sons Florida, LLC portfolio consisting of 220,667 square-feet in Broward County that is managed and leased exclusively by Berger Commercial Realty. Collins currently oversees leasing for the portfolio.

Bishop also represented Sanitas USA, Inc. in leasing 2,170 square-feet of office space from 1819 S.E. 17th, LLC at The Port Condo building in commercial unit one. 

Located on the 17th Street Causeway in downtown Fort Lauderdale, the 25,000-square-foot building sits on a one-acre lot adjacent to the Hilton and The Art Institute of Fort Lauderdale.

 Built in 2006, the class-A property features glass store frontage, a boat and yacht dry storage facility with ocean access, and signage exposure to a daily traffic count of 45,000 vehicles and pedestrians.

For more information about Berger Commercial Realty's leasing services, call 954-358-0900 or visit www.BergerCommercial.com

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

954-776-1999

Lexi Robinson, ext. 255, lrobinson@piersongrant.com

Marielle Sologuren, ext. 226, msologuren@piersongrant.com

SG Contracting Wins Assignment at Arbor Montessori in Decatur, GA

 

Sachin Shailendra

 ATLANTA, GA  (Feb. 16, 2016) — SG Contracting, an Atlanta-based general contracting and construction management company, has won the assignment to complete improvements at the Arbor Montessori in Atlanta. The renovation is scheduled for completion in July 2016.

  

The new site package includes a new playground area, an upgraded storm system, retaining walls, and paving. Exterior renovations will include new parapet walls, roofing, windows, stairs and canopies. 

Upgrades to the interior of the school include new class rooms, nap rooms and administrative rooms, as well as shell space totaling 9,100 square feet.

“We are excited to have been selected for this project at one of the largest Montessori schools in the Southeast,” said Sachin Shailendra, president of SG Contracting. “Its name and prestige are well recognized, and its regarded as a model by many other schools worldwide.”

Arbor Montessori has been the flagship of Montessori education in Atlanta for the last 44 years.

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

Savannah Durban

The Wilbert Group

404-343-0870 (O) 404-901-4433 (C)

sdurban@thewilbertgroup.com

Multi Housing Advisors Brokers Sale of 392-Unit Apartment Community in Asheville, NC

  

The Meadows Apartments, Asheville, NC

Marc Robinson

CHARLOTTE, NC — Multi Housing Advisors (MHA) has arranged the sale of The Meadows, a 392-unit apartment community located in Asheville, North Carolina.

Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Bell Partners Inc., in the transaction. The property was purchased by Graycliff Capital Partners, LLC, located in Greenville, South Carolina.

“This transaction represents a tremendous opportunity for new ownership to breathe fresh life into an established, well-maintained asset located in what is quietly one of the stronger markets in the Carolinas,” McCarley said.

The Meadows, built in two phases, is located on New Leicester Highway, which provides excellent access to Downtown Asheville as well as major transportation arteries. It is uniquely positioned in a thriving market, with high barriers to entry and a lack of direct competition.

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

Deborah Rogers

Multi Housing Advisors

404.645.7275

drogers@usmha.com

Atlantic | Pacific Cos. Announces Two New Luxury Garden Developments in South Florida

  

Alex Lastra

MIAMI, FL – Miami, Florida-based Atlantic Pacific Companies is pleased to announce the start of two new Developments with close proximity to downtown Fort Lauderdale and Delray Beach. 

Construction of both communities broke ground in December, 2015 and the first units will be delivered in November 2016.

The Atlantic | Cypress Creek, ideally situated between I-95 and Florida’s Turnpike along Commercial Blvd (one of Broward Counties most traveled arteries) and The Atlantic | Delray Beach, perfectly located North of Atlantic Avenue (on Lake Ida Road) between Military Trail and Jog Road.

 Alex Lastra, Senior Managing Director of Atlantic | Pacific Development remarked “We are excited to break ground on these two Premier developments that will be ready for Occupancy in late 2016.  

"These developments will be ‘best in class’ assets that will provide residents at both communities with all of the amenities of a luxury home within your apartment and the latest in cutting edge amenities within the Resort style clubhouse and throughout the Community.”

For more information about A|P and its array of real estate services including development, property management, affordable housing and construction, visit www.apmanagement.net or call (800) 918 – 1145.

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

Margie Sernik, Account Executive

7100 Biscayne Blvd., Suite 306A | Miami, FL 33138

margie@jessicawadeinc.com

 www.jessicawadeinc.com