NAI Realvest Closes Multi-Year Lease Agreements with Starbucks and Hardcore Fitness in the West Orange County Commercial Corridor of Central Florida

Kim Manson

Jeff Tanner

WINTER GARDEN, FL – NAI Realvest recently represented the landlords and closed on new leases at facilities in the Colonial Drive (SR 50) commercial growth corridor. 

 Starbucks and a growing personal fitness training firm are the new businesses moving in. 

The NAI Realvest team of Jeff Tanner and Kim Manson negotiated a new long-term lease on behalf of Landlord Cohen Trust Holdings WG for the 3,281 square foot former Wendy’s restaurant on a one-acre site at 13304 W. Colonial Drive in Winter Garden. 

 New tenant Seattle-based Starbucks Corp. is redeveloping the property for a planned grand opening in the fall of this year.   John Park of Berkshire Realty represented Starbucks.

Michael Heidrich

The NAI Realvest team of Michael Heidrich, Matt Cichocki and Kevin O’Connor, principals, negotiated a new long-term lease on behalf of Landlord Beulah Commerce Center LLC at 1401 Beulah Rd. Suites 100-106.  

Hardcore Fitness Boot Camp Winter Garden LLC leased 8,120 square feet of flex space in the new complex nearing completion off of Colonial Drive two blocks from West Orange High School.  The tenant, who has several training centers in Orlando, plans to open this fall at the Winter Garden location.

NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide. 

Kevin O'Connor

NAI Global is an international commercial real estate network with over 400 offices spanning the globe.  

Since 1978, clients have built businesses on the power of NAI Global’s expanding network. 

 Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. 

To learn more, please visit www.nairealvest.com. 

For more information, please contact:

Michael Heidrich, Matt Cichocki or Kevin O’Connor, NAI Realvest, 407-857 9989

Matt Cichocki

 Mheidrich@realvest.com, MCichocki@realvest.com 

KOConnor@realvest.com

Jeff Tanner or Kim Manson, NAI Realvest, 407-875-9989 Jtanner@realvest.com or Kmanson@realvest.com 

Robin L. Webb, CCIM, CHA, CHB, CRB, CPM, MRICS, Managing Director, NAI Realvest, 407-875-9989 Rwebb@realvest.com

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

  

Arbor Realty Trust Funds Deals in New York and Texas

 

50-Unit Apartment Building, Yonkers, NY

Arbor Funds $3.3M Freddie Mac SBL Deal in Yonkers, NY

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, recently funded a Freddie Mac SBL deal in Yonkers, NY.

A 50-unit multifamily property recently received $3,296,000 in acquisition funding. The deal provides a 5-year fixed-rate nonrecourse loan term with a 30-year amortization schedule.

Matt Madasci

Matt Madacsi of Arbor’s New York office originated the loan. “Arbor was able to secure favorable financing terms that not only met our client’s expectations, but far exceeded them. 

"Our Arbor Loan Express (ALEX) platform delivered a smooth, efficient and transparent underwriting process that continues to impress borrowers and brokers alike.”

Conveniently located in Westchester County, just three miles north of Manhattan and adjacent to scenic Van Cortland Park, this five-story apartment building offers 1-3 bedroom rentals. 

Arbor Funds $3.2M Fannie Mae DUS® MAH Loan

 in Mercedes, TX

La Herencia Apartments, Mercedes, TX

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a real estate investment trust and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets, recently funded a Fannie Mae DUS Multifamily Affordable Housing (MAH) Loan in Mercedes, TX.

La Herencia Apartments, a 160-unit multifamily property, received $3,255,000 for nonrecourse MAH refinancing. The deal was structured under MAH Preservation Tier III, with a 12-year fixed-rate term on a 30-year amortization schedule.

Matt Norman

Matt Norman of Arbor’s Dallas office originated the loan. “Through Arbor’s diligence and commitment to develop customized solutions, we were able to structure terms that were equitable to all parties. The creative intelligence at the beginning of the process was paramount to a successful transaction.”

Built in 1998, La Herencia Apartments is located in Hidalgo County and is part of the McAllen-Edinburg-Mission metropolitan areas. 

This quiet community offers 1-3 bedroom floor plans in a garden style layout. Amenities include a clubhouse, leasing office, business center, laundry facility, a playground and swimming pool

For more information, please contact:

Bina Handa

Tel: 516.506.4229

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, 

Suite 900

Uniondale, NY 11553

800.ARBOR.10

arbor.com

 

Berger Commercial Realty Closes $2.4 Million Sale of Large Parcel in Davie, FL

Carissa Rose Medical Center, Davie, FL

FORT LAUDERDALE, FL -- T.D.R.S Properties, Inc. recently sold its property at 7900 N.W. 33rd St. in Davie to a New York based investment group for $2.4 million.

Brokers St. George Guardabassi (top right) and Steve Hyatt (bottom left), of Berger Commercial Realty/CORFAC International, represented the seller.

Located just east of University Drive and less than one mile from Memorial Hospital Pembroke, the 2.82-acre parcel consists of a 7,500-square-foot medical office building situated on 1.13 acres of land. 

An adjacent vacant parcel consisting of 1.69 acres of land was included in the sale. The office building currently houses the Carissa Rose Medical Complex.

“The University Drive corridor is experiencing a significant building boom with new retail, office and multi-family developments recently completed or under construction,” Hyatt said. 

“The new owner plans to continue operating Carissa Rose Medical Complex, which is currently 100 percent occupied, and develop the adjacent lots into future medical and office space.”

  

For more information about Berger Commercial Realty’s brokerage services, call 954-358-0900.

For more information, please contact:

Pierson Grant Public Relations   954-776-1999

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

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

www.bergercommercial.com.

 www.corfac.com. or call 224.257.4400 

HFF announces financing for Apollo on H Street in Washington, D.C.

Apollo on H Street, Mixed-Use Complex, Washington, DC

Jamie Leachman

WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces the permanent financing for Apollo on H Street, a best-in-class, pre-stabilized residential, retail and office mixed-use property in Washington, D.C.’s H Street Corridor.

The HFF team worked on behalf of the borrower, a partnership between Insight Property Group and institutional investors advised by J.P. Morgan Asset Management, to secure the fixed-rate loan through TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA). 

 HFF previously arranged construction financing and joint venture equity for the partnership in 2014 while the property was in development. 

Apollo on H Street is in Washington, D.C.’s historic H Street Corridor at 600 H Street NE. With a WalkScore® of 97, the property is near numerous lifestyle and employment amenities and is five blocks from Union Station, which serves as the main rail transportation artery into and around the D.C. metro. 

Nicole Brickhouse

Completed in 2017, Apollo on H Street encompasses 431 apartments with luxury finishes, including Italian cabinetry, quartz countertops, stainless appliances and wood floors throughout.

The apartments were 70 percent leased at the onset of the marketing process. In addition, the property features 57,000 square feet of fully leased retail space anchored by a 40,000-square-foot Whole Foods and a 32,000-square-foot office component occupied by WeWork.

Apollo on H Street also has 60,000 square feet of indoor/outdoor amenity space, including a public lobby and leasing lounge connected to the Wydown Café; world-class art collection curated by Long View Gallery and Art Enables;

Jennifer Keller

Also, penthouse with demonstration kitchen, indoor fireplace and table games; conservatory event space with access to the roof terrace; east rooftop lounge with grilling kitchens, a movie projector and expansive landscaping; 

Also, west rooftop lounge with outdoor living room, grilling kitchen, two-tiered swimming pool and outdoor fireplace; indoor dog wash and outdoor dog run; gym with private studio, boxing area and Peloton bikes; and communal gardens.

The HFF debt placement team representing the borrower included Jamie Leachman, Nicole Brickhouse and Jennifer Keller.

Sarah Davidson

“We are seeing more and more available capital right now for both pre-stabilized and recently stabilized assets,” Leachman said.  “Given the quality, location and sponsorship, Apollo on H Street created significant interest from the lending community, providing the partnership multiple options from which to choose.”

“HFF was fortunate to have been involved in the permanent financing of the Apollo,” Brickhouse added.  “Insight Property Group and J.P. Morgan have created a one-of-a-kind asset. 

" Due to the extremely competitive environment for best-in-class, pre-stabilized assets, multiple lenders were able to get creative underwriting the asset as if it was stabilized.  TH Real Estate was fantastic to work with and ultimately provided the borrower with the most long-term flexibility.”

Richard Hausler

Insight Property Group develops, acquires and repositions well-located multifamily and mixed-use properties in the greater Washington, D.C. area.  Insight’s two principals and senior leadership team members are industry veterans with a significant track record of success.

The co-founders, Richard Hausler and Michael Blum, along with their partners, Trent Smith, Bill Goodman, Sarah Davidson and Maury Stern, have decades of experience in the greater D.C. real estate market.  Combined, they have acquired and developed more than 40,000 apartments and condominiums, including high-end market-rate and affordable units. 

 They are also responsible for numerous award-winning planned communities and the development of multiple large-scale mixed-use and office properties.

Since Insight was formed in 2009, the company has assembled a portfolio of existing and to-be-developed multifamily assets that totals in excess of 3,200 units.  The company expects to continue its growth by adhering to the sound investment and underwriting principles, market discipline and relationship building that have proven successful in the past.  

For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

www.insightpropertygroupllc.com.

www.jpmorganassetmanagement.com

HFF announces $32 million sale of five-building industrial portfolio in Greensboro, NC

Patrick Nally

CHARLOTTE, NC –– HFF announces the $32.175 million sale of Airport Distribution Center, a fully leased, five-building industrial portfolio totaling 764,582 square feet in a premier airport location in Greensboro, North Carolina.

The HFF team represented the seller, Somerset Properties and Thackeray Partners.  

Situated on 40.96 acres at 202, 204, 206, 311-F and 311-G North Chimney Rock Road, Airport Distribution Center is minutes from Piedmont Triad International Airport (PTI) and the FedEx Mid-

Atlantic Hub, the carrier’s fifth largest U.S. hub. 

 The exceptional location provides easy access to a network of interstates, including 40, 85, 73 and 74.  The facilities were constructed between 1981 and 1987 and have each had significant capital improvements completed throughout the years, including ESFR sprinkler systems, T5 lighting, new dock levelers and updated office areas. 

 Airport Distribution Center’s front-loading facilities feature pre-engineered block construction, clear heights ranging from 24 to 35 feet and rail access to 316,532 square feet of space within buildings 311F and 311G.

Chris Norvell

The HFF investment advisory team representing the seller consisted of senior managing director Chris Norvell and director Patrick Nally.

Holliday GP Corp. (“HFF”) is a North Carolina licensed real estate broker.

 For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com

www.thackeraypartners.com.

http://somprop.com 

Marcus & Millichap Arranges $7.8 Million Sale of 102-Unit Apartment Building in St. Petersburg, FL

Casey Babb

St. PETERSBURG, 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 Waterside Village, a 102-unit apartment property located in St. Petersburg, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $7,800,000.

The buyer, a private investor based in Largo, FL, was secured and represented by Luis Baez, CCIM, Casey Babb, CCIM, and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office.

Luis Baez

“The buyer, who had existing holdings in the submarket, was attracted to the size of the property and the upside potential which will be born out of a moderate repositioning of the unit interiors and common area amenities”, says Babb. 

“The seller accepted the offer to purchase based on the strength of the buyer as well as the attractive deal terms which called for a 14-day due diligence period and a closing within 60 days with no financing contingency”, added Baez.
The Waterside Village community is in the city of St. Petersburg, within Pinellas County, the most densely populated county in the state of Florida. It is near several major employers. 

Shawn Rupp

The residents enjoy a number of local amenities along with beach access within a short drive. Waterside Village is located at 3600 49th Avenue North in St. Petersburg, Florida.

For more information, please contact:

Crystal Marino,

Crystal.Marino@marcusmillichap.com

             
or                                                

Ari Ravi

Regional Manager, Tampa

(813) 387-4700

Daum Commercial Completes Rapid Sale of 99,552-SF Industrial Property in Orange County, CA for $16.2 Million

99,552-SF Industrial Property in Brea, CA 

 

Chris Migliori

 Brea, CA  – DAUM Commercial Real Estate Services has completed the $16.12 million sale of a 99,552 square-foot industrial building in Brea, California, on behalf of the seller, SAME Investments, LLC.

The property was the only traditional industrial building of its size in North Orange County at the time it was placed on the market, according to Chris Migliori, Executive Vice President at DAUM’s Orange County Office.  

“Due to pent-up demand in the submarket, we had strong interest and three solid offers from a diverse group of REITs, private investors, and owner-users within just 10 days of the property being placed on the market,” Migliori explains. “Ultimately, we sold the building to a private investor that was in a $28 million dollar 1031 exchange. From start to finish, the sale cycle took approximately 120 days.”

Chuck Wilson and Brian Chastain at Colliers International represented LFT-Cliffwood, LLC as the buyer in the sale transaction and will market the building for lease to a single strong manufacturing/distribution tenant.

Chuck Wilson

The buyer intends to implement light renovations to the interior and exterior of the building before leasing. Due to lack of inventory in the region, the time it takes to lease up a quality industrial building in this market is 2 to 4 months, subject to the asking rate, Migliori notes.

“This was the right time for the seller to bring this property to market,” says Migliori. “There continues to be high demand for industrial product in Orange County, with vacancy rates posting at 1.4-percent in Q1 for the North County submarket, which further demonstrates the value of this asset as an investment property for the buyer.”

The property, constructed in 1974, recently underwent renovations that included the installation of a new state-of-the-art ENERGY STAR-rated “Cool Roof.”

Brian Chastain

The asset also features competitive amenities including 7,900 square feet of executive office space, four dock-high loading doors, one ground-level loading door, 22’-24’ minimum warehouse clearance, and a fenced yard.

The building offers direct access to the 57 Freeway and close proximity to the 91, 55 and Interstate 5 Freeways. The property is also located near several retail destinations, including the Brea Mall and Brea downtown district.

The industrial warehouse is located at 331-333 Cliffwood Park Street in Brea, California.

For more information, please contact:

 Lindsay Mackay / Elisabeth Manville

Brower Group

(949) 955-7940

lmackay@brower-group.com

www.daumcommercial.com.