Berkadia Arranges Sale of New Class AA Garden-Style Apartment Community in Orlando, FL

The Baldwin, 800 Lombard Street, Orlando, FL

 ORLANDO, FL – Berkadia announces it has arranged the sale of The Baldwin, a brand new, 270-unit Class AA garden-style apartment community in Orlando, Florida. The price was not disclosed.

Managing Director Brett Moss, Associate Director Tyler Swidler, Senior Managing Director Matt Mitchell, and Senior Financial Analyst Bennett Hopkins of Berkadia’s Orlando and Tampa offices arranged the sale of behalf of the seller, Catalyst Development Partners.

Brett Moss

Middleburg Communities, a fully integrated multifamily development, investment, construction, and management company operating in the southeastern and mid-Atlantic United States, acquired the property.

 “The Baldwin is well-poised to continue capturing the robust demand it experienced throughout lease-up due to its infill location, proximity to the prestigious Baldwin Park master-planned community, as well as its access to lauded Winter Park public schools. 

Orlando continues to benefit from outsized capital markets demand due to favorable population and employment growth metrics, underscoring strong multifamily fundamentals for the MSA into the foreseeable future,” said Moss.

Tyler Swidler

Located at 800 Lombard Street and completed in 2022, The Baldwin offers one-, two- and three-bedroom apartment units that average from 756 square feet to 1,248 square feet.

 Individual units feature gourmet kitchens with granite counters, stainless steel and energy-efficient appliances, French door refrigerators, wood-plank inspired flooring, walk-in closets, full-sized washer and dryers, expansive pantries and storage closets, smart home features and spacious balconies or patio space.

 The controlled-access community’s amenities include a resort-style swimming pool with semi-private cabanas, a pool pavilion with outdoor gaming, a 24-hour fitness club, summer kitchen, clubroom with billiards, a business center, coworking spaces with complimentary coffee, a bark park, an auto care station and electric vehicle charging stations.

 Matt Mitchell

The Baldwin is located approximately 15 minutes east of downtown Orlando and 15 minutes west of the University of Central Florida, adjacent to the affluent award-winning Baldwin Park master planned community.

The property is close to several award-winning public schools, the Central Florida Research Park, Lake Nona Innovation Hub, and within 25 minutes of more than 4,600 hospital beds, Universal Studios, Walt Disney World, and the Orlando International Airport.

 

 © 2022 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC. 

 

Bennett Hopkins

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. 

 Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. 

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 

In California,  Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc.  under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050.  

Rob Meyer

Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. 

 For state licensing details for the above entities,please visit: http://www.berkadia.com/legal/licensing.aspx 

 

About Catalyst Development Partners

 

Catalyst Development Partners is an Atlanta-based firm with offices in Florida, focused on Market-Rate Multifamily Real Estate Development with a footprint across multiple states throughout the Southeast.

 The firm’s principals – Rob Meyer, Jorge Sardinas and Mark Mechlowitz – have a combined 75+ year track record in the business.

Jorge Sardinas

 CONTACTS:

Melinda Sherwood

Kreps PR, on behalf of Berkadia Commercial Mortgage LLC
305.849.0467

msherwood@krepspr.com

  

Marian Moreno

Account Executive 

Kreps PR & Marketing   

C. 786.286.5578 

 www.catalystdp.com.

www.berkadia.com. 

Avanath Capital Management acquires unique mixed-use 266-unit property in Orlando, FL for $62.5 million

 

City View, located at 595 Church Street
off Downtown Orlando, FL, comprises
266 multifamily units and 24,865 SF
 of retail space

ORLANDO, FL, Sept. 22, 2022 – Avanath Capital Management, LLC (Avanath), a private real estate investment management firm, announces the acquisition of City View, a mixed-use, mixed-income property located in Orlando, Florida for $62.5 million. City View is currently 96.9% occupied.

City View is a unique property that comprises 266 multifamily units and 24,865 square feet of retail space, according to Daryl Carter, Founder, Chairman, and CEO of Avanath.

Daryl Carter

The firm acquired the property through a combination of its commingled fund equity and financing from JPMorgan Chase and Fannie Mae.

“This acquisition presents a rare opportunity to add a quality asset to our portfolio in a flourishing market, where Avanath is well positioned to create value and contribute to the local community,” says Carter.

“With this investment, we will preserve much-needed affordable housing while elevating the quality of resident living spaces and common areas, as well as improving the retail spaces to serve the needs and interests of the growing Downtown Orlando market.”

In alignment with Avanath’s mission to acquire, own, renovate, and operate affordable and value-oriented communities, 131 of 266 units are designated affordable, with the property’s rent restrictions continuing until 2050.

The firm has taken steps to preserve the current designations of 28 units at 50% of area median income (AMI), 79 units at 60% of AMI, and 24 units at 120% of AMI, adds Carter.

“Ensuring access to quality affordable housing in this market is essential, especially as Downtown Orlando’s median rents have increased 19.3% over the past year,” continues Carter.

“In collaboration with Fannie Mae, we are proud to support Avanath with the acquisition of City View to preserve 266 multifamily units of affordable housing and their plans to enhance the local community offerings,” said Vince Toye, Head of Community Development Banking and Agency Lending for JPMorgan Chase.

 “Working with Avanath, this is a great example of how we can help address critical housing needs to stabilize and strengthen our communities across the US.”

Vincent (Vince) Toye

The acquisition of City View brings Avanath’s current Greater Orlando portfolio to six properties totaling more than 1,500 units, at a key time when growth trends in the region continue.

 Between April 2021 and March 2022, renters absorbed over 16,000 units and is expected to outpace most major metros in job growth in 2022, according to Marcus & Millichap. 

John R. Williams, President and CIO of Avanath, says: “We’ve seen some of our highest property performance in Greater Orlando in recent years.

 "Our team identified the opportunity to create additional scale and efficiency through building our portfolio in this region as it continues on a strong growth trajectory.”

Avanath plans to complete interior renovations of the market-rate units to bring finishes and rents in-line with those of market competitors.

These will include new and modern aesthetics with the addition of plank flooring, quartz countertops, updated paint, new fixtures, and updated appliances.

Additionally, the firm will upgrade City View’s common areas and retails spaces and replace the roof, HVAC, and boiler, given the property’s current age of fifteen years.

John R. Williams

“Through these improvements, we can generate additional revenue that will create sustained opportunity to provide top-quality housing at both market rate and affordable rents,” explains Williams.

He notes that Avanath will also improve on-site operations through enhanced resident services and community management.

 CONTACTS:

Brooke Belt/Elisabeth Manville

The Smart Agency

949.438.6262

bbelt@thesmartagency.com

www.avanath.com.

Cuningham Achieves Net Zero Carbon Across Firm’s Internal Operations

Jacqueline Dompe 

CUNNINGHAM, DENVER, CO -- Cuningham, a national design firm, is proud to announce its internal operations are officially Net Zero Carbon.

 After a four-year effort to better understand the firm’s impact on the global environment, Cuningham — which has over 260 employees across six U.S. offices — is now making a commitment to reduce and offset 100 percent of its Greenhouse Gas (GHG) emissions from all Scope 1 and 2 sources, plus a large portion of its Scope 3 emissions. 

 “Knowing your company’s emissions profile is critical to being a steward of the environment,” Cuningham Chief Executive Officer Jacqueline Dompe says.

“However, the real work of restoring the earth comes from creating a climate action plan to reduce it. That is why we are so excited to announce Cuningham is officially Net Zero Carbon.

“As we continue to create enduring experiences for a healthy world, going above and beyond this commitment remains our top priority.” 

Paul Hutton

 According to Cuningham Director of Regenerative Design Paul Hutton, the firm spent the past four years watching and tracking its Scope 1, 2, and 3 emissions.

 Per EPA, Scope 1 includes emissions under a company’s direct control, typically including vehicle fuel and fossil fuel consumed at a company’s facilities.

 Scope 2 covers indirect emissions and includes primarily purchased electricity for offices and electric vehicles. Scope 3 is everything else that a company does.

 For the purposes of their study, Cuningham included air travel, travel to meetings and jobsites, vehicle rental and ride share services, paper use, and electronic equipment in their Scope 3 emissions.

Hutton clarifies that, while no offset approach is perfect, Cuningham believes Climate Vault does an excellent job providing accurate and defensible offsets.

 “At Cuningham, we have a clear and genuine shared belief throughout the firm that design must be regenerative, achieve ecological benefit, and promote social well-being,” Dompe says. 

“Therefore, becoming Net Zero Carbon in our internal operations is done in parallel with our commitment to reduce GHG emissions in the projects and experiences we create.”

 Cuningham, which signed the Architecture 2030 Challenge over a decade ago, is committed to taking all projects to Net Zero Carbon by the year 2030. In 2021, the average GHG reduction in the firm’s projects was 56 percent compared to the baseline year provided by the Architecture 2030 Challenge. 

That puts Cuningham in the top 10 percent of firms belonging to the AIA Large Firm Roundtable.

  CONTACT:

 Katie Haga 

khaga@thesmartagency.com

Bread Financial's re-energized workplace supports autonomy, equity and employee comradery

 

Cara Ambrosino-Strickling

 Columbus, OH -– Unispace, a global leader in strategy, design and construction announced the completion of Bread Financial’s innovative 262,500 square foot office space in Columbus, Ohio.

 A tech-forward financial services company that provides simple, flexible, lending and saving solutions, Bread Financial chose Unispace to optimize its campus footprint and upgrade its workspaces to create a modernized equitable work experience for all of its associates.

 Charged with the strategy, design and construction for the project, Unispace took an associate-centric approach from the jump, hosting visioning sessions, a company-wide survey and leadership interviews to understand the diverse needs and preferences of Bread Financial’s workforce. 

“We conducted various visioning sessions and interviews to understand exactly how Bread Financial wanted to work and built a space designed to attract and maintain its valued talent,” said Cara Ambrosino-Strickling, the lead designer on the project at Unispace.

“Through our collaborative process, our team was able to recommend the right mix of innovation, problem solving and community space to create an optimal experience for its associates.”

Jason Hogan

 

“Feedback on the new space has been overwhelmingly positive,” said Jason Hogan, VP of Real Estate and Facilities Services.

 “The office engages different preferences and needs that includes multiple types of workspaces to accommodate shifting tasks, as well as top-of-the-line technology to allow seamless collaboration with a virtual team.”

 Despite supply chain delays caused by the pandemic, Unispace was able to accommodate all 11^th-hour changes and complete the project on time and on budget. 

 

 CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

BreadFinancial.com or follow us on Facebook, LinkedIn, Twitter and Instagram.

 

JLL Valuation Advisory adds industrial expert Jim O’Leary in Chicago office

 

Jim O’Leary

CHICAGO, IL, Sept. 22, 2022 – JLL’s Valuation Advisory group has hired Jim O’Leary, MAI, as an Executive Vice President in its Chicago office.

 

O’Leary will serve as the industrial lead for the region and focus on driving growth and building out the platform throughout Chicago and the greater Midwest.

 

“In keeping with our goals of expanding our geographic reach for all property across the U.S., we’re excited to welcome Jim to the team,” said Katie Parsons, MAI, Managing Director and National Industrial Practice lead.

 Katie Parsons

“Industrial has become one of the most desired asset classes over the last few years and demand for valuation services has risen in lockstep.

 

"JLL Valuation Advisory understands how the market changes on a daily basis and is excited to deliver an elevated level of service to our industrial clients in the Midwest region.”

 

O’Leary is an experienced appraiser with more than 20 years in the commercial real estate industry.

 

 CONTACT:

Kristen Murphy

 JLL Director

Public Relations

Phone: +1 617 543 4873

Email:  Kristen.Murphy@am.jll.com

 

The UP Companies Promotes Jeff Tubb to Square UP Senior Operations Manager

  

 Jeff Tubb

St. Louis, MO --The UP Companies (UPCO) proudly announces the promotion of Operations Manager Jeff Tubb to Senior Operations Manager of its Square UP Builders division.

 In his new position, Tubb leads, directs, and coordinates the day-to-day company field operations across multiple projects through multiple Foremen, Field Managers and Operations Managers.

 

Brian Arnold

 Tubb was originally hired by UPCO in 2017 as a General Superintendent and was promoted four years later to a Project Manager position, which he held for three years. He was promoted to Operations Manager in 2020.

Prior to UPCO, Tubb worked for 11 years as a Superintendent at Clayco and Contegra Construction.

“Jeff lives out our company core values on a daily basis. He leads by example and sets high expectations with measurable goals helping our field teams reach levels of performance beyond their own expectations,” said UPCO President Brian Arnold. “

 

Jeff also plays a vital role in collaboration with the preconstruction team to develop winning proposals that account for the necessary means and methods to deliver our projects on-time and on-budget.”  

 

 CONTACT:

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

Native Realty Closes Pair of Big Sales in Fort Lauderdale’s Flagler Village

 

Kaley Tuning 

FORT LAUDERDALE, FL ––Native Realty, the industry disruptor and neighborhood placemaker led by CEO Jaime Sturgis, brokered a pair of notable investment sales transactions in Fort Lauderdale’s Flagler Village.

 The firm represented both sides of developer Dev Motwani’s $6.4 million purchase of a portion of a multifamily development site in the neighborhood, and successfully represented the seller of a mixed-use property that is home to the popular Chops + Hops.

 Sturgis and Native Sales Director Kaley Tuning arranged the multifamily development property sale to Motwani’s Merrimac Ventures.

Dev Motwani

Located at 407 N. Andrews Ave., the property is part of an assemblage approved for high-rise apartment development. Merrimac has announced plans to develop the 30-story ArtsPark Lofts there.

 The overall project site also includes an adjacent property that was not part of this transaction.

Jaime Sturgis

ArtsPark Lofts is planned to include 289 apartments, with a mix of studios, one-bedroom, one-bedroom plus den and two-bedroom units, nearly 2,000 square feet of commercial space and a six-story parking garage. Construction is not expected to begin before the end of 2023.

 In the meantime, Native has been retained to lease the remaining vacant space at the site’s existing commercial buildings. Turnkey Class A space is available for lease.

 

Elsewhere in Flagler Village, Sturgis and Senior Associate Dan Ross brokered the $4.25 million sale of a mixed-use property at 702-704 NE First Ave. 

The 8,864-square-foot building is home to Chops + Hops Axe Throwing Lounge, which has been voted “Best of Fort Lauderdale in many categories including “Best Craft Cocktail List” and “Best Date Night.” 

Other tenants include Fort Liquordale Wine + Spirits, Mama Hank’s speakeasy and kitchen and Crossed Keys Society tattoo studio.

Barkan Investments LLC sold the property to the Strachman Family Trust.

“These two sales reflect the versatility and unique local knowledge of the Native team,” Sturgis said. “Our long-term placemaking efforts in Flagler Village have created encyclopedialike knowledge of our markets, allowing us to connect the best buyers and sellers for Multifamily development sites, triple-net (NNN) deals and everything in between.”

 The latest transactions follow a busy summer highlighted by Sturgis completing more than $50 million in deals in a 30-day span.

Dan Ross

Native now operates from a new Fort Lauderdale office that is double the size of its previous headquarters. The 4,000-square-foot office is located at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.

  CONTACT:

Eric Kalis

Vice President,

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza

 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.nativerealty.com.