Robert Betz Promoted to Senior Vice President for McCarthy’s San Diego, CA Office

 SAN DIEGO, CA– McCarthy Building Companies, Inc. (www.mccarthy.com), one the nation’s top ten domestic builders, announces the promotion of Robert Betz (top right photo) to senior vice president for the company’s San Diego office.

 Betz assumed this position following a six-month transition period working in tandem with Ron Hall (lower left photo), former executive vice president of the San Diego office, who recently retired from McCarthy after 25 years with the firm.

Having joined McCarthy in 1994, Betz has accumulated 18 years of expertise serving in various leadership roles for McCarthy’s Southern California Division, including project engineer, assistant project manager, project manager, senior project manager, project director, and most recently, vice president of operations for the San Diego region.

 In his new position as senior vice president, he is responsible for the financial performance and overall operations of McCarthy’s San Diego office.  He will oversee client relations, estimating, office operations and personnel as well as integration of the company’s scheduling, safety and contracts departments.

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

Contact:

Bonnie Kutch

Director

619-299-1010

Kutch & Company

3904 Groton Street |

Suite 203 |

San Diego, California 92110

 www.kutchco.com

www.mccarthy.com.

Real Estate Industry Exec Brett Miller to Lead Jones Lang LaSalle in Canada

TORONTO  /PRNewswire/ -- Jones Lang LaSalle today announced the appointment of Brett Miller (top right photo) as the new President of its Canada operations.  Based in Toronto, Miller will be responsible for overseeing and growing the firm's business across Canada effective May 14.

"Over the last two years, we have strengthened our business in Canada with new office openings, significant brokerage assignments and the addition of more than 40 industry professionals," said Bill Krouch (lower left photo), CEO, Americas Markets at Jones Lang LaSalle.

"To ensure our continued momentum in this important market, we required an individual with deep knowledge of multiple business lines, proven leadership skills and a track record of building profitable businesses.  Brett brings these qualities, as well as an entrepreneurial spirit, to the role."

Miller joins from CBRE where, as Regional Managing Director, he ran the firm's Eastern Canada division for more than a decade and grew the firm's presence significantly. In addition to overseeing five offices, he led major investment transactions and launched several business lines.

Prior to this position, he ran the new business division of News International Newspapers in London and founded a home delivery services company in Paris. Miller began his career with real estate developer and manager Canderel Limited in Montreal in 1986, where he gained experience in finance, leasing and development.

Jones Lang LaSalle has operated in Canada for more than a decade. With its Canada headquarters in Toronto, the firm also operates in Mississauga, Montreal, Ottawa, Vancouver and Calgary.

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

 Joanne Bestall,

 +1-312-228-2344,

 Joanne.bestall@am.jll.com, or

Phil Notley,

 +1-416-304-6032,

Phil.notley@am.jll.com

Web Site: http://www.joneslanglasalle.com

NAI Realvest Negotiates Lease Agreement to Open Sports Themed Restaurant at Dellagio Town Center on Sand Lake Road in Orlando, FL

ORLANDO, FL. - NAI Realvest recently negotiated a new lease agreement for 6,000 square feet of retail space at Dellagio Town Center (top left photo) on Sand Lake Rd. in Southwest Orlando.

Chairman George Livingston (middle right photo) and Christie Alexander (lower left photo), principals at NAI Realvest, and Broker Associate Drew Saphos, CCIM and Associate Paul Vera represented the tenant.

The lease will bring a Miller’s Field restaurant to the upscale center.

Craig Miller, former CEO at Ruth’s Chris Steak House, is a principal of the restaurant chain, which operates a Miller’s Field restaurant and sports bar in San Diego, California.

The landlord was represented by Amy Schuemann with Unicorp National Developments, Inc., the owner/developer of the center.  

For more information, contact

Christie Alexander, Principal, NAI Realvest 407-949-0704, calexander@realvest.com

George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com

Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com

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

George Smith Partners Arranges Financing for Acquisition and Development of New 95-Unit Multi-Family Project in West Los Angeles, CA

LOS ANGELES, CA (May 4, 2012) – Commercial real estate investment banking firm George Smith Partners has successfully arranged financing on behalf of its client ADC Realty Group (ADC) for the acquisition and construction of a 95-unit, multifamily property in West Los Angeles (top left rendering).

The financing included $11.115 million in joint venture and construction equity, according to Vice President, Jonathan Lee (middle right photo). Lee was assisted by George Smith Partners’ Analyst Shine Cheng (middle left photo).

According to Lee, ADC was approached directly with this development opportunity in late 2011 by the seller. ADC engaged George Smith Partners to place the deal with an institutional equity group in order to secure the development project.  ADC is active in the development of a wide array of properties, including single-family homes, commercial, office, hotels, multifamily and self-storage facilities.

“In taking this off-market transaction to potential investors and lenders, one of the challenges we faced at GSP was finding new construction rental comps in the area,” explained Lee. “While this was a disadvantage in our efforts to achieve financing, it did demonstrate to investors the great potential for this project as the first new multifamily construction in the immediate micro-market.”

According to Lee, GSP identified an equity partner that was comfortable with the return on cost due to the prime West Los Angeles location of the property.

 The property is located on the North East corner of Pico Boulevard and Centinela Avenue with direct freeway access.

The property is also only three blocks away from the planned LA Metro Expo Line stop at Olympic and Bundy Blvd. This new metro stop is anticipated to be complete within six months of ADC’s project completion.

 “The West Los Angeles area is home to some of the largest tech and entertainment companies in the country. These companies have attracted sophisticated employees that raise both the expectation level of renters, as well as the price point for newly built units,” Lee noted.

Jason Amoroso, Vice President of Acquisitions and General Counsel for Amoroso Companies explained, “In addition to the growth in the local job market, the new metro stop will allow other people to live in the revitalized area of West LA, while easily commuting to work in Downtown.”

“George Smith Partners’ speed and efficiency in arranging the financing for the project was impressive. They arranged a number of meetings with potential joint venture partners for us, and worked diligently to find us the right financing so we could secure this development,” Amoroso added.

Contact:

Corynne Randel/ Judith Brower

Brower, Miller & Cole

(949) 955-7940

Crandel@browermillercole.com

New Comings and Goings at Marcus & Millichap

 Michael Rothstein Rejoins Firm  as a Senior Associate in Manhattan office

  

 NEW YORK, NY – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has hired Michael Rothstein (top right photo) as a senior associate in the firm’s Manhattan office, according to J.D. Parker (top left photo), vice president and regional manager of the Manhattan office.

Most recently, Rothstein was with Besen & Associates.

In his new role as senior associate at Marcus & Millichap, Rothstein represents investors throughout New York City in the disposition of their multifamily and mixed-use investment properties.

“It’s a pleasure to welcome Michael back to the firm,” Parker says of Rothstein, who left the company in 2010. “His in-depth knowledge of the New York Metro Area’s real estate market makes him an asset to our private clients.”

 Rothstein spent the majority of his real estate career – from 2003 through 2010 – with Marcus & Millichap, where he left as a senior associate in the firm’s Manhattan office. In 2007, Rothstein earned a National Achievement Award and a Gold Sales Award from Marcus & Millichap.

“I returned to Marcus & Millichap because of its unique brokerage platform, culture of collaboration and unparalleled access to investment capital from all over the country,” says Rothstein. “I look forward to assisting my clients in their efforts to build greater wealth by providing them with access to the extensive inventory of exclusively listed properties offered by Marcus & Millichap.”

Rothstein received his Associate of Science degree in Advertising from Dean Jr. College in Franklin, Mass., a Bachelor of Arts degree in Business Administration from New England College in Henniker, N.H. and earned credits towards his MBA from Seton Hall University in South Orange, N.J.

Jacob D. Gehl Promoted to First Vice President Investments in Chicago Office

 CHICAGO, IL –Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has promoted Jacob D. Gehl (middle right photo) to first vice president investments.

This achievement is one of the highest levels of recognition the firm awards to its investment specialists. It represents excellence in the development and servicing of long-term client relationships, according to John M. Przybyla (middle left photo), first vice president and regional manager of the firm’s Chicago Downtown office.

Most recently, Gehl held the title of vice president investments.

Gehl began his career with Marcus & Millichap in January 1999 and was named vice president investments in January 2008. He has received 12 sales recognition awards from the firm.

Gehl specializes in the sale of seniors housing investment real estate. He has handled $1.1 billion in transactions for Marcus & Millichap.

Seth Barnett Moves Up to Senior Associate in Detroit Office

  

DETROIT, MI – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Seth Barnett (lower right photo) as a senior associate, according to Jonathan Dwoskin (lower left photo), regional manager of the Detroit office.

Barnett previously held the title of associate.

As a member of Marcus & Millichap’s Affordable Housing Advisors, Barnett works with investors on project-based Section 8 multifamily transactions nationwide. In all, Barnett has participated in arranged the sale of 4,500 apartment units in 17 states valued in excess of $100 million.

Barnett joined Marcus & Millichap in 2006. He is a member of the National Multi-Housing Council (NMHC) and supports the Institute for Responsible Housing Preservation (IRHP) and National Leased Housing Association (NLHA).

Barnett received his Bachelor of Science in finance from Michigan State University.

Ryan DeMar Named Regional Manager of Sacramento Office

SACRAMENTO, CA–Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has named Ryan DeMar (bottom  right photo) regional manager of the firm’s Sacramento office, according to John J. Kerin (bottom  left photo), president and chief executive officer.

“As sales manager of the Sacramento office, Ryan has demonstrated his expertise in expanding our national market-making capabilities to clients throughout Northern California,” says Kerin. “As regional manager, he will continue to expand the Sacramento office and to provide leadership and support to our investment professionals.”

DeMar began his career with Marcus & Millichap in July 2003 as an agent in the Sacramento office. He became a senior associate in July 2006, was promoted to associate vice president investments in January 2008 and became a vice president investments in July 2009. He has been the sales manager of the Sacramento office since August 2010.

DeMar received a Bachelor of Science degree in managerial economics from the University of California, Davis.

 

Contact: Stacey Corso, Public Relations Manager, (925) 953-1716

Invesco and Zeller Partner to Acquire Fifth Street Towers in Minneapolis, MN at Foreclosure Auction

  

ATLANTA, GA  /PRNewswire/ -- Invesco Ltd. (NYSE: IVZ) announces that its wholly-owned subsidiaries, Invesco Advisers, Inc. and WL Ross & Co. LLC, in partnership with Zeller Realty Corporation, have teamed up to acquire Fifth Street Towers (top left photo), a two-tower class A office complex comprising 1.1 million square feet in downtown Minneapolis.

The purchase was completed at the foreclosure auction held on Thursday morning, April 19, at the Hennepin County Sheriff's office. The price was $110.7 million, $1 more than the credit bid offered by the lender that was foreclosing on the property.

The Fifth Street Towers were built in 1985 and 1989 by Opus Northwest. Located at 100 and 150 S. Fifth St., the complex is adjacent to a light rail transit station on South Fifth between Marquette Avenue and Nicollet Mall (lower right photo).

Building amenities include below-grade parking, a Caribou Coffee shop, deli on the skyway level, and tenant fitness and conference centers. Currently, the office space is approximately 65 percent occupied.

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

 Bill Hensel, +1-404-479-2886

Access Point Financial Provides Financing for Residence Inn by Marriott Hotel Development in Downtown Tempe, AZ

 ATLANTA, GA.and TEMPE, AZ, May 3, 2012—Access Point Financial, Inc., (APF) a direct full-service lending and advisory firm focused on the hospitality industry, today announced it has provided first mortgage financing for the 173-room Residence Inn by Marriott (top left photo) in downtown Tempe, Arizona being developed by Miami-based Finvarb Group, a leading hotel real estate development company.  The hotel will be managed by Marriott International.

The APF financing is the foundation of a multifaceted capital stack.

“Hotel development remains challenging as seasoned hoteliers and experienced lenders must thoughtfully structure transactions in order for projects to achieve attractive returns, yet remain a prudent risk,” said Jon Wright, president and CEO of Access Point Financial. 

“We have an agile underwriting team with more than 100 years of hotel industry finance experience that provides brands and hoteliers the confidence to proceed with developing intricate projects like this.”

Scheduled to open in Fall 2013, the hotel is located at 125 East Fifth Street in downtown Tempe, adjacent to Arizona State University (ASU) and Tempe City Hall (middle right photo), and is one block from the Mill Avenue shopping and entertainment district, and two blocks from ASU’s football stadium, basketball arena, and baseball stadium.

The hotel will feature guest suites containing fully-equipped kitchens and will offer state-of-the-art amenities, including an outdoor rooftop pool and fire pit with panoramic views of downtown, about 3,500 square feet of meeting space, and 5,700 square feet of ground-level retail space.  Hotel guests will have use of the adjoining city parking garage.

“Our knowledge of respected developers like The Finvarb Group, the markets and the brands give us the confidence to finance strategically smart ground up hotel projects,” Wright said.  “We are fully engaged in all types of hotel financing and on schedule with our previously-stated target of placing $1 billion in three years.”

 

“The Tempe market is poised for strong growth and we are confident that this is the best location in the market,” said Ronny Finvarb, Principal of the Finvarb Group. 

 “We believe we will be able to establish a market-leadership position given the outstanding quality of our location, brand and management team.  Access Point Financial immediately recognized the project’s strength and helped us structure a viable transaction.”

 Contact:

Jerry Daly, Chris Daly

(703) 435-6293

jerry@dalygray.com

www.finvarb.com, 305-861-3500.

 www.accesspointfinancial.com. 404-382-9599

Lincoln Property Company Southeast Brokers 215,000 SFof Office Leases in North Fulton, GA

 ATLANTA, GA (May 3, 2012) – In first-quarter 2012, Lincoln Property Company Southeast brokered 215,000 square feet of leases in the North Fulton office properties the firm is leasing onbehalf of Equity Office.

 Michael Howell and Hunter Henritize, both vice presidents of office leasing for the firm, represented the landlord in the transactions.

 The leases included the following deals:

 • Amdocs signed a renewal and expansion totaling 34,990 square feet in Northwinds VI (top left photo). Danny Granot of Joel & Granot represented the tenant.

 • AIM Systems Inc. signed a renewal for 13,816 square feet in Northwinds VI. Rob Metcalf of Jones Lang LaSalle represented the tenant.

• NobleTek signed a new lease for 11,656 square feet in Northwinds VI. Bennett Gottlieb and John Thornton of CBRE represented the tenant.

 • Brixmor signed a renewal for 9,496 square feet in Preston Ridge IV. Chad Koenig of NAI Brannen Goddard represented the tenant.

 • Merck signed a new lease for 7,305 square feet in Northwinds II. Brannon Moss of Jones Lang LaSalle represented the tenant.

 • Fullscope signed a renewal for 6,084 square feet in Northwinds III. Peter Webster of Davidson Webster represented the tenant.

 • Adecco USA Inc. signed a renewal and expansion totaling 4,028 square feet in Northwinds III. Ben Onerdonk of Mohr Parnters represented the tenant.

 In December, Equity Office awarded Lincoln Property Company Southeast contracts to manage 3.3 million square feet and lease 1.9 million square feet in suburban Atlanta.

The management assignment covers buildings in the North Fulton and Northeast submarkets, and the leasing assignment is for buildings in North Fulton. Lincoln began servicing the contracts at the start of the year.

“We are extremely proud of the work that Hunter and Michael have done in their first 90 days of leasing the North Fulton properties,” said Tony Barlett (lower left photo), senior vice president for Lincoln Property Company Southeast. “They have assembled an outstanding mix of tenants and have already demonstrated the top-flight ability and know-how that Lincoln brings to this assignment.”

 For more information on the Southeast Region of Lincoln Property Company, please visit www.lpcsoutheast.com. To check out the blog, go to http://blog.lpcsoutheast.com.

 Contact:

Stephen Ursery

Wilbert News Strategies

E-mail: sursery@wnspr.com

Office: (404) 965-5026

Cell: (404) 405-2354

www.wnspr.com

Voit Directs 13.26-Acre Land Sale for Development in the Inland Empire

   

  

 INLAND EMPIRE, CA. (May 3, 2012) – Voit Real Estate Services’ Inland Empire office has directed the $2.74 million sale of a 13.26-acre parcel of land (top left aerial)  in Redlands, Calif. on behalf of the seller. 

The raw, unentitled land is zoned for commercial/office use, and was purchased for future development, according to Patrick Wood (middle right photo), a Senior Associate in Voit’s Inland Empire office.

Wood represented U.S. Bank National Association as the seller in the transaction.  The buyer TREH Partners, LLC., is a Newport Beach-based developer.

According to Wood, Voit was successful in generating multiple competing offers on the property, which enabled Voit to secure pricing and terms that outpaced typical market conditions. In the end, the selected buyer provided a non-refundable deposit equal to the purchase price upon opening escrow, and the transaction closed four days thereafter. 

“While the development of this land is likely years away, we were successful in demonstrating the value of this strategically located land, and closed the deal in less than a month from taking the property to market,” commented Wood.

“This transaction demonstrates the bullish outlook the development community has on the future growth of the Inland Empire market,” said Wood. 

“As the health of the market continues to improve, we are starting to see increased competition among buyers to acquire the limited supply of quality land positions in the Inland Empire.  This competitive atmosphere will help to improve property values throughout the region.”

The property is located at the Northwest corner of San Bernardino Avenue and Interstate 210 in Redlands, Calif. 

This is the second land transaction Wood has completed for U.S. Bank National Association in the Redlands area over the past six months. 

Contact:

Jenn Quader/Judith Brower

Brower, Miller & Cole

(949) 955-7940

JQuader@browermillercole.com

Firms with Female Board Members Outperform Peers by 3.6% Annually Over Five-Year Horizon, Ferguson Partners Ltd. Study Reveals

 CHICAGO, IL, May 3, 2012 – A national study of Real Estate Investment Trusts’ (REITs) Board structures by Ferguson Partners Ltd., a global executive recruitment consultancy, finds that firms that have had a female board member for more than three years have enjoyed materially higher returns than their counterparts without such gender diversity.

 Conducted to identify characteristics that closely aligned with performance in the REIT sector, the study revealed that firms with at least one female on their board garnered higher annual Total Shareholder Return (TSR) growth rates than their peers without a female Board member.  Specifically:

•    2.6 percent higher than peers over a three-year horizon;

•    3.6 percent higher than peers over a five-year horizon; and,

•    3.4 percent higher than peers over a ten-year horizon. 

These striking results underscore the importance of diversity on boards and further illustrate that boards that are proactive in the pursuit of diverse perspectives are most apt to succeed,” said William J. Ferguson (top right photo), Chairman and Chief Executive Officer of Ferguson Partners Ltd.

Notably, of those REIT boards included in the study, 44 percent did not have a single female board member. This number is high, especially in contrast to Fortune 500 companies where nearly 11 percent of boards include at least one female director.

The 2012 study is based on the analysis of 164 REITs spanning multiple property types: multifamily, for sale residential, retail, hospitality, mortgage, office, senior living, industrial, and diversified. 

The results are based on a cross data analysis of board membership and composition with firm performance and board tenures during performance horizons of three, five, and ten years.  Ferguson Partners Ltd. based its analysis on performance growth data from 2000 to 2010.

The study analyzed several characteristics including board size, meeting frequency, compensation levels and structures, average board member and CEO tenure, percentage of independent directors, average director age and more.

Across all these variables, it was whether or not the board had any female members that rose above the rest as having a significantly greater effect on performance.

Contact:

Amy Smolensky

amysmolensky@comcast.net

312-485-0053

Beech Street Capital Provides $16.3 Million Fannie Mae Loan for Plantation, FL Apartments

  BETHESDA, MD – Beech Street Capital, LLC, announced that it provided a $16.3 million Fannie Mae conventional loan to refinance Jacaranda Village at Plantation (top left photo), a 296-unit apartment complex in Plantation, Florida.

Brian Sykes (middle right photo), vice president out of Beech Street Capital’s Boston office, originated the transaction.

 Scully Company, based in Philadelphia and South Florida, a first time client of Beech Street, approached the lender with a request to pay off existing lower floating tax exempt bonds with low leverage fixed-rate debt.

Beech Street worked closely with the borrower and provided a variety of refinancing options at different terms and leverage points.  The borrower selected a seven-year fixed-rate option with Fannie Mae. 

 “The Beech Street team did a fine job,” stated Michael Scully, principal of the Scully Company.  “They were able to rate lock and close the loan with higher proceeds and at a lower rate than what was quoted at application.”

 Built in 1985, the property is located in the Plantation submarket of the Fort Lauderdale MSA.  The area is comprised of residential housing neighborhoods with plenty of retail shopping centers within walking distance that include convenience stores, restaurants, offices, grocery stores, and various other retail and services.  

Amenities include a community pool, children’s pool, heated spa, two tennis courts, playground, volleyball court, fitness room and a combination leasing/clubhouse with a full-size kitchen and several small offices.

 The fixed-rate loan has a seven-year term and four years interest-only with a 30-year amortization thereafter, payable on an actual/360 basis. 

Contact: 

Jenifer Bernardi,

240-507-1946.

jbernardi@beechstcap.com

Courtney Lewis,

240-507-1948

clewis@beechstcap.com

NAI Realvest Completes Sublease Agreement for Class A Office Space in the Lake Mary--I-4 High Tech Corridor in Central Florida

 MAITLAND, FL. – NAI Realvest recently negotiated a long-term sublease for 1,938 square feet of Class A office space in the Frontline Building at 7131 Business Park Lane in Lake Mary.

 Senior Associate Mary Frances West (top right photo), CCIM negotiated the sublease representing the sublessor Frontline Insurance Managers, Inc. 

 Sublessee Transportation Insurance Advisors was represented by Chuck Rudis of Coldwell Banker Commercial AI Group.

 For more information, contact: 

Mary Frances West, CCIM, Senior Associate NAI Realvest, 407-875-9989 mwest@realvest.com  

Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com  

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

Sperry Van Ness International Names Diane Danielson Chief Platform Officer

 IRVINE, CA – Sperry Van Ness International Corporation, a franchisor for commercial real estate brokerages, announced it has named Diane Danielson (top right photo) as the company's first chief platform officer.

She will serve the organization in leadership, business development, and growth capacities. Danielson is a former attorney, accomplished speaker, published author, and widely recognized social media expert.

“Bringing Diane on board represents a big win for the company,” said Kevin Maggiacomo (middle left photo), chief executive officer and president of Sperry Van Ness International. “She will be an integral player in Sperry Van Ness International’s aggressive expansion program.”

Maggiacomo added that this expansion began in 2001 and has grown to more than 1,400 advisors and staff representing more than 150 markets today.

Most recently, Danielson was consulting for companies on growth strategies that integrate technology platforms with marketing and business development outreach.

Past positions include serving as vice president of business development for corporate services and strategy at Spaulding & Slye/Colliers (now Jones Lang LaSalle) and, as head of marketing for Meredith & Grew/ONCOR (now Colliers International Boston).

Danielson has also published several books – including The Savvy Gal’s Guide to Online Networking (or What Would Jane Austen Do)?. She also founded the award-winning Downtown Women's Club national network. In 2006, she launched the first social network for businesswomen in the United States.

Contact: 

Darcie Giacchetto

(949) 278-6224

darcie.giacchetto@svn.com

ARA Announces 118-Unit Bulk Sale in Miami’s South Beach

Miami, FL — The Boca Raton office of Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multi-housing industry, recently brokered the sale of Alton Pointe’s 118 units, positioned on a two-acre site in the heart of South Beach.

 The asset was originally built in 1939 and then carefully restored in 2011. The buildings are quintessential examples of the Streamline Modern Art Deco architecture in Miami Beach.

The Boca Raton-based sales team of Principal, Avery Klann (middle left photo), Principal Dick Donnellan (lower right photo) and Senior Vice President Hampton Beebe represented Ram Realty Services in the sale to an undisclosed buyer.

 “Alton Pointe resonates with residents who can live car-free, relying on the superb location of the community. Alton Pointe has a “Walk Score” of 88 out of 100 on walkscore.com, one of the top scores in Miami Beach,” noted Avery Klann.

 “A Publix supermarket is next door to Alton Pointe, and residents can walk less than a mile to the Lincoln Road Mall, Miami Beach, Epicure Gourmet Market, the famous Collins Avenue and Flamingo Park.”

 Alton Pointe offers one of the most luxurious interior finishes in South Beach, including washers and dryers, hurricane impact rated windows, high-end kitchen finishes, hardwood floors, solid surface counters and stainless steel appliances.

“The Downtown Miami Office Submarket is less than five miles from Alton Pointe and offers over 18.5 million square feet of office space,” noted Hampton Beebe.

 To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Marti Zenor at mzenor@ARAusa.com or 561.988.8800.