Wednesday, December 7, 2022

Nebraska Based Scooters Coffee Enters Florida Market; Hold-Thyssen Locates New Port Richey Site and Closes $678,000 Sale

 

Carol Kinnard

New Port Richey, FL  -- Hold-Thyssen, LLC, a full-service commercial property firm with offices in Clearwater and Winter Park, closed the sale of the highly visible piece of land on U.S. Highway 19 at the intersection of Avery Road in New Port Richey.

 

 The site will be the first Florida location of Nebraska-based Scooters Coffee.   

 

Carol Kinnard, transaction specialist at the firm was retained by Scooters Coffee Franchise owners Heather and Sean Stevens, to find a perfect location for their drive-through coffee kiosk.

 

Scooters subsidiary FSK Properties, LLC, a Nebraska limited liability company, purchased the .63-acre tract of land at 7229 U.S. Highway 19 for $678,000.00.    

 

Avery Land, LLC, a Missouri limited liability company was the seller.


Heather and Sean Stevens

“We are excited to be part of the growing New Port Richey area and look forward to serving the west Pasco community,” said Heather Stevens who expects to be open for business in 2023.

 

Hold-Thyssen, LLC provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide. 

 

The 40-year-old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

 

 

CONTACTS

 

Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, LLC,

813-880-7100 ext303 

rfisher@HoldThyssen.com

 

Beth Payan, Larry Vershel Communications Inc

 407-461-3781 

beth@larryvershel.com 

 

 

Tuesday, December 6, 2022

Residences at Dr. King Boulevard Celebrates with a Grand Opening in Miami on Dec. 12

 

Residences at Dr. King Boulevard,
1501 NW 62nd Street
 (Martin Luther King Boulevard)
 Miami, FL 33147


                                  (Christine King)

MIAMI, FL -- Atlantic Pacific Communities (A|P Communities) and Martin Luther King Economic Development Corporation alongside Miami-Dade County, the City of Miami, the Florida Housing Finance CorporationCiti Community Capital and Wells Fargo celebrate the grand opening of Residences at Dr. King Boulevard, an affordable housing community in Liberty City.

 

Residences at Dr. King Boulevard features 120 new mixed-income apartments on the north and south sides of Martin Luther King Boulevard in Liberty City.

 

 The fully leased community serves a mix of households with incomes ranging from 30% of Area Median Income all the way up to market rates.

 

ATTENDING:

 

Keon Hardemon

·    Miami-Dade County District 3 Commissioner Keon Hardemon

·    City of Miami Chairwoman and District Five Commissioner Christine King

·    Martin Luther King Economic Development Corporation Executive Director Amina McNeil

·    Atlantic Pacific Communities’ COO Ken Naylor

 

Ken Naylor

WHEN:  Monday, December 12, 2022

                        Ceremony begins at 11 a.m.

 

WHERE:  Residences at Dr. King Boulevard

1501 NW 62nd St. (Martin Luther King Blvd.), Miami, FL 33147

 

CONTACT:  RSVP to marianna@jwipr.com. Interviews and photos available upon request.

 

Northmarq’s Atlanta office arranges $7.6 million sale of New York Chick-fil-A reflecting a 3.68 percent cap rate

 Maggie Holmes
 

 NEW YORK, NY, Dec. 6, 2022 – Northmarq investment sales brokers Maggie Holmes, Senior Vice President, and Mike Sladich, Managing Director, completed the sale of a freestanding retail property located at East Jericho Turnpike in Huntington, New York.

 

The property totals 4,996 square feet and is leased to Chick-fil-A, one of the largest American fast food restaurant chains.

 

 Holmes represented the seller, a shopping center owner and developer based in Elmsford, New York. A New York-based private family office in a 1031 exchange acquired the asset for $7.6 million reflecting a 3.68 percent cap rate.


Mike Sladich

“While we’ve certainly seen a shift in cap rates across the country this quarter, this sale represents the fact that private investors are still willing to pay a premium for best-in-class tenants in high barrier-to-entry markets.” said Holmes.

 

“With nearly 2.5 acres of prime real estate on Long Island and a 20-year lease, this property will be a generational asset that can justify a cap rate below the 10-year treasury due to the long-term viability and appreciation of the real estate.”



The build-to-suit property is brand new with a double lane drive-thru and is situated on 2.47 acres.

 

Approximately 40 miles east of Manhattan, the town of Huntington is a major source of employment for the New York metropolitan area.

 

The property is ideally positioned as an outparcel to Target and just one mile east of the Walt Whitman Shops, a super-regional shopping center with over 100 stores, including Bloomingdale’s, Macy’s and Saks Fifth Avenue. Other neighboring retailers include CVS Pharmacy, Best Buy, Rite Aid and more.

 

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.”

  More information on Stan Johnson Company and Four Pillars Capital Markets may be found on their websites.

Monday, December 5, 2022

BakerHostetler adds corporate partners in New York and Orlando

 

Amy Bellman

WASHINGTON, DC — Dec. 5, 2022

  • Amy Bellman and Jeffrey Spindler join BakerHostetler as partners in the firm’s Business Practice Group.
  •  
  • Bellman rejoins the firm in its Orlando office as part of the Real Estate and Hospitality Industry teams. Previously, she was Vice President - Division Counsel at Fidelity National Financial’s resort development and vacation ownership division.
     
  • Spindler is based in New York and is a member of the Securities Offerings and Compliance team. He has more than three decades of experience representing public companies, investors and underwriters in a broad range of capital market and M&A transactions.
  • Their arrivals are the latest addition to BakerHostetler’s rapidly expanding Business Practice Group, which has added 12 partners in 2022, including three partners in the New York office and two partners in Orlando in the past 12 months.
     

Why this matters

Bellman and Spindler are the most recent strategic additions to BakerHostetler’s Business Practice Group. Each partner has a depth of knowledge that will be an immediate asset to the firm and its clients.

Bellman has extensive experience in the timeshare industry and has advised on all aspects of resort development and management, including condominium formation and governance, timeshare structures and use plans, state and federal regulatory requirements, preparation of legal documentation, and sales and marketing compliance.

In addition to handling securities offerings and M&A and capital market transactions, Spindler also counsels clients on corporate governance matters.

Jeffrey Spindler

About Bellman’s practice

During her time as Vice President - Division Counsel for Fidelity National Financial’s resort development and vacation ownership division, Bellman served as operations and underwriting counsel providing guidance and oversight on multi-jurisdictional escrow and title processes and reviewing new product structures for compliance and insurability.

While at BakerHostetler previously, she served as timeshare counsel for several publicly traded companies, independent developers, exchange providers, resort managers, rental managers, debt collectors and resale service providers as well as a variety of other third-party service providers to the timeshare industry.

Bellman also served as vice chair of the American Bar Association Committee on Timeshare and Interval Use and as a member of the American Resort Development Association’s Meetings Committee. She is a registered resort professional and a trustee member of ARDA.

Bellman has a B.A. in political science and policy studies and a J.D. from Syracuse University.

John Allotta
Key quotes

“Amy Bellman has a deep understanding of the timeshare and resort development industry and she is an excellent addition to our corporate group and Real Estate and Hospitality Industry teams.

"We’ve known Amy very well for many years and we are excited to welcome her back to the firm,” said John Allotta, chair of BakerHostetler’s Business Practice Group.

“Amy is the second addition to the Real Estate and Hospitality Industry teams in Orlando since August. We continue to strengthen our core groups in Orlando and welcome Amy to the firm,” said James Etscorn, managing partner of BakerHostetler’s Orlando office. “She’ll be an immediate asset to our clients both here and nationally.”

About Spindler’s practice

Spindler has more than 30 years of experience as a corporate attorney and regularly advises clients on public offerings and private placements, mergers and acquisitions, and corporate governance matters. 

James Etscorn

"His experience includes representation of public and rapidly growing companies as well as banks as trustee’s counsel in various types of securities offerings.

Spindler also regularly advises issuers, investors and underwriters on a broad range of financing matters.

Spindler received a B.S. from the State University of New York at Albany and a J.D. from Fordham University School of Law.

Key quotes

“Throughout his career, Jeff has successfully guided businesses in securities offerings, M&A transactions and other complex financings.

 "A testament to his experience and knowledge is the many clients that have relied on him for multiple transactions,” said Allotta. “We welcome Jeff to BakerHostetler and the Business Practice Group.”

 George Stamboulidis

“New York remains the financial capital of the world, and we are always looking to bolster our corporate offerings with top-notch lawyers.

"Jeff helps us do that, and we are excited that he is joining our team,” said George Stamboulidis, managing partner of BakerHostetler’s New York office.

About BakerHostetler

With hundreds of highly ranked attorneys across multiple practice areas, BakerHostetler helps clients around the world address their most complex and critical business and regulatory issues, delivering sophisticated counsel and outstanding client service.

The firm has six core practice groups – Business, Digital Assets and Data Management, Intellectual Property, Labor and Employment, Litigation, and Tax, composed of more than 1,000 lawyers located coast to coast.

 CONTACTS:

 John Garger

917-572-4820 jgarger@rippmedia.com 

Allan Ripp 646-285-1779 arippnyc@aol.com

 Courtney B. Smith

202-861-1514 cbsmith@bakerlaw.com

 bakerlaw.com

For more information on BakerHostetler’s Business Practice Group, please visit www.bakerlaw.com/BusinessCorporate.

Also, please connect with us on Twitter at @BakerHostetler or LinkedIn

at @BakerHostetler@JohnAllotta@GeorgeStamboulidis@JimEtscorn and @AmyBellman.

JLL Capital Markets closes $825 million sale of multi-housing One Sutton Place, Two Sutton Place and One East River Place located on the Upper East Side of New York City.

Joy Ryoo
 

 NEW YORK, NY,  Dec. 5, 2022 JLL Capital Markets has closed the approximately $825 million sale of three Upper East Side multi-housing properties totaling 858 units, including One Sutton Place, Two Sutton Place and One East River Place, that are part of a larger five-property portfolio.


One Sutton Place, Upper East Side, New York City

JLL exclusively represented the seller, Solow Building Company, and an equity syndication by GO Partners acquired the assets. GO Partners is a partnership between Black Spruce Management and Orbach Affordable Housing.


One East River Place, Upper East Side, NYC

Sheldon H. Solow, the renowned real estate developer/investor, developed all five properties. They include:

 

·         The 234-unit One Sutton Place at 420 E. 61st St, New York, NY

·         The 209-unit Two Sutton Place at 1113 York Ave., New York, NY, which includes 2,000 square feet of commercial space

·         The 415-unit One East River Place at 525 E. 72nd St., which includes 27,275 square feet of commercial space

 

Sheldon H. Solow

The three properties offer spacious units with an average size of 989 square feet, allowing ample room for families wanting proximity to the Upper East Side’s prestigious schools, as well as young professionals conducting hybrid work-from-home lifestyles.


 Rob Hinckley
Additionally, the portfolio offers some of the few black glass façade residential buildings within Manhattan.

 

The 408-unit 685 1st Ave. was the first property to close of the larger portfolio with JLL representing the seller (announced in October), bringing the total portfolio transaction amount thus far to $1.2 billion. 

 

 An additional property of the portfolio is currently under contract between the parties.




Jeff Julien
The JLL Capital Markets Investment Sales Advisory team was led by Senior Managing Directors Rob Hinckley and Jeff Julien, Vice Chairman Scott Panzer, Senior Managing Director Andrew Scandalios, Senior Director Steve Rutman, Vice President John Taylor and Associates Jon Faxon and

Associates Jon Faxon and Joy Ryoo.

 

“The Solow Company was decades ahead in their construction of these assets in terms of quality and amenities.  It will be exciting to see where new ownership will take them into the future,” said Hinckley.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.


Scott Panzer
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources on JLL, please visit our newsroom.

 

 

About GO Partners

Go Partners is a vertically integrated real estate development and investment firm where innovation and thoughtful planning converge to curate urban developments of the future, founded by Meyer Orbach‘s Orbach Affordable Housing Solutions and Josh Gotlib’s Black Spruce Management.

 

Meyer Orbach
In 2022, the firm closed more than $2 billion in assets encompassing a portfolio of over 2,000 apartments consisting of Class A iconic New York City buildings that have reshaped the city's skyline.

 These include The Copper Buildings, One East River Place, One United Nations, and 1 & 2 Sutton Place North.

 The company also has more than $500 million of deals set to close in the coming months. 


With their sharp knowledge of the industry, Go Partners takes pride in building their credibility with dedication and excellence.


 

Josh Gotlib

CONTACT

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 gopartnersdevelopment.com.

jll.com

 

Sunday, December 4, 2022

Dream Finders Homes is Offering a Sweet Holiday Deal to Prospective Homebuyers

Patrick Zapulski

JACKSONVILLE – Dream Finders Homes, a national homebuilder headquartered in Jacksonville, is making the holidays a little merrier by buying down interest rates on select move-in-ready homes throughout its more than a dozen divisions in the U.S. 

The buydown – which offers a 3.75% rate for the mortgage’s first year and a 5.75% rate for the second year – affords homebuyers a lower mortgage payment for the first two years of their loan, according to Patrick Zalupski, CEO of Dream Finders Homes 

 Brad Muston


“This incentive will help homeowners save substantially in the beginning of their mortgage,” he said. “In many cases, we believe that savings could be a factor in whether a purchase is made or not; and often without compromising.”

Dream Finders Homes pays to buy down the rate for select move-in ready homes that are sold by Dec. 31, 2022 and loans that fund from DFH’s preferred lender by Jan. 13, 2023. The interest rate on the loan returns to the original fixed rate at the end of the two-year period, Jacksonville Division President Brad Muston explained.


CONTACTS:

Brad Muston

Jacksonville Division President,

 Dream Finders Homes,

 888-208-7736 or 

Brad.Muston@dreamfindershomes.com


Beth Payan, Larry Vershel Communications,

 407-461-3781 or

 beth@larryvershel.com

dreamfindershomes.com/sales-event.