The Astor Companies Names Eduardo Pruna Director of Sales at Merrick Manor in Coral Gables, FL

Eduardo Pruna

 CORAL GABLES, FL  – Pioneering Miami developer The Astor Companies has added development sales specialist Eduardo Pruna as Director of Sales at Merrick Manor. Astor is nearing completion of the Coral Gables luxury residential project.

Pruna brings more than 15 years of experience selling and marketing high-end condominium developments throughout South Florida. The ONE Sotheby’s International Realty professional spent the past two years as Director of Sales at Brickell City Centre, the transformative Swire Properties project in Miami’s financial district.

 In that role, Pruna led sales teams and oversaw local, national and international strategic business development initiatives in key markets including the Northeast, New York and South America.

“We are thrilled to have Eduardo join our team at Merrick Manor,” said Henry Torres, President, CEO, and Founder of Astor. “The markets we are seeing the strongest demand from mirror the types of buyers Eduardo has successfully worked with. He brings significant experience and industry knowledge to our project.”

Henry Torres

The 10-story, 227-residence Merrick Manor is under construction in the Merrick Park neighborhood of Coral Gables – a suburb of Miami - and slated for completion during the fourth quarter of this year, well ahead of schedule.

 More than 60 percent of the project is under contract, with prices for remaining units starting from $449,990 and ranging up to $2.5 million. Remaining units range from 574 square feet to more than 3,400 square feet.

Prior to joining ONE Sotheby’s International Realty, Eduardo directed the marketing and sales efforts for Crescendo Real Estate, as Director of Sales for Bijou Condo in Bay Harbor Islands. Pruna also served as Director of Sales for Gulfstream Park Towers in Hallandale, FL and The Edge on Brickell, both represented and marketed through Cervera Real Estate.

Pruna’s real estate career began with J-Milton & Associates, where he spent nine years developing strategic relationships and clientele throughout the Middle East, Europe and South America.

“It is an honor to have the opportunity to work with a renowned developer like Henry Torres and The Astor Companies,” said Pruna. “Merrick Manor is a rare project that offers a combination of luxury, lifestyle and value. There is simply nothing like it in Coral Gables or the surrounding markets.”

The Mediterranean, villa-style Merrick Manor was designed by prominent architecture firm, Behar Font & Partners, P.A., with Witkin Hults Design Group providing the landscape design. Interiors by Steven G. has continued a longstanding relationship with Astor by designing unit interiors at Merrick Manor.

Roza H. Radkiewicz

Merrick Manor also offers 19,000 square feet of prime, Class A ground-floor retail and restaurant space marketed by the Astor Real Estate Group, led by Principal Broker Roza H. Radkiewicz.

The 5,000-square-foot Merrick Manor Sales Gallery showcases a full model one-bedroom unit with a gourmet kitchen, bathroom, living room and master bedroom designed by Interiors by Steven G.

To learn more about the residences, visit www.merrick-manor.com or contact ONE Sotheby’s at the Merrick Manor Sales Gallery at (305) 779-6870.

For commercial and retail opportunities available at Merrick Manor, contact Roza H. Radkiewicz at (305) 779-5672 or (786) 218-8322 or email roza@astorcompanies.com.

 For more information, visit the project Sales Gallery at 4200 Laguna Street, call (305) 779-6870 or email info@merrick-manor.com.

Facebook: https://www.facebook.com/MerrickManor/

For more information, please contact:

Eric Kalis

Account Director, 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

www.astorcompanies.com.

Griffin-American Healthcare REIT IV Acquires Medical Office Building Near Phoenix, AZ

Stefan Oh

SURPRISE, AZ – American Healthcare Investors and Griffin Capital Company, LLC, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced the REIT has acquired Surprise Medical Office Building, located in the Phoenix suburb of Surprise, Arizona, for $11.7 million.

Built in 2012, the approximately 34,000-square-foot Surprise Medical Office Building is currently 89.5 percent leased to three tenants.

Approximately 72 percent of the building is leased to two Banner Health-affiliated tenants, Banner Medical Group and the Center for Orthopedic Research and Education, Inc., whose leases have expiration dates in 2022 and 2028, respectively. All tenant leases include annual rent escalators of between 2.5 percent and three percent.

“Surprise Medical Office Building is strategically located near two major hospitals in a rapidly growing suburb of Phoenix where the average population growth exceeds the national average,” said Stefan Oh, executive vice president of acquisitions for American Healthcare Investors and Griffin-American Healthcare REIT IV.

“The local population also includes a significant segment of senior citizens within a 15-mile radius of the property. We believe all of these factors make Surprise Medical Office Building an exceptional acquisition to the growing portfolio of Griffin-American Healthcare REIT IV.”

For more information, please contact:

Damon Elder
Spotlight Marketing Communications
(949) 427-5172 ext. 702
damon@spotlightmarcom.com

www.griffincapital.com.

www.healthcarereitiv.com.

www.AmericanHealthcareInvestors.com.

Plaza Advisors Brokers Sale of Trophy Southtown Center in Tampa, FL

Southtown Center, Tampa, FL

TAMPA, FL -- Jim Michalak, the lead on the Plaza Advisors disposition team, stated that “this asset was highly sought after by both private and institutional investors resulting in: numerous offers, premium pricing and an expeditious due diligence and closing timeline”.

Jim Michalak

Furthermore, Jim stated, “In today’s E-Commerce sensitive capital markets environment the property commanded a lot of investor attention primarily due to three factors. 

One, its tenant base was relatively internet resistant and was composed of personal care, restaurant and service related tenants”.

 Second, the Publix store, located across the street, is one of the highest sales volume stores in Central Florida.

 Lastly, besides its location, in the epicenter of South Tampa, and affluent demographics the income stream was not reliant on big box users”.

This is the third sale located on Dale Mabry,  for Plaza Advisors, over the past few years. Michalak’s team sold the Winn Dixie Center, just north of I-275 and Marketplace North II in Carrollwood. The aggregate total of these transactions exceeded $43 million.

Michalak declined to identify the sale price of Southtown Center but according to Hillsborough County records it sold for $19.75 million which equates to $452 per square foot.

 For more information, please contact:

Jim Michalak

Managing Partner

Plaza Advisors

jim.michalak@plazadvisors.com

3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 1

Fax 831.2627

 www.plazadvisors.com

Levin Johnston Creates Win-Win for Buyer and Seller With $15 Million Multifamily Asset Trade in Redwood City, CA

Sequoia Station Apartments, Redwood City, CA

Adam Levin

            Redwood City, CA – Levin Johnston, one of the top 10 multifamily brokerage teams in the U.S., has directed the $15 million sale of Velocity at Sequoia Station, a 30-unit multifamily community in Redwood City.

Levin Johnston represented both the seller, Old Adobe Management Company, and the buyer, a private owner and investor, in the transaction.

“This asset presented a tremendous opportunity for a valuable trade in one of the strongest rental markets in the U.S.,” says Adam Levin, Senior Managing Director of Levin Johnston. “We supported the seller, a long-time Client, in the acquisition of the property for $10 million in 2015. 

"Now, less than two years later, we were able to secure a strong price for the seller, while simultaneously helping the buyer to grow its portfolio and presence in the Bay Area.”

During its ownership, Old Adobe Management Company implemented an extensive renovation and repositioning campaign, which bolstered the value of the asset and positioned it as especially competitive in the already tight market.

Robert Johnston

“This is an unprecedented level of property renovations, resulting in a property that gives both the buyer and renters the closest option to new construction possible in this supply-constrained market,” says Levin. “New multifamily supply peaked in the Bay Area last year, and the resulting tightening market will see more dramatic growth in average effective rent as 2018 progresses.”

            Levin Johnston was able to help the buyer leverage this current momentum by acquiring Velocity at Sequoia Station as part of a 1031 exchange.

            “One of the most valuable services our firm provides is the ability to look at the big picture and support Clients in making the right moves at the right time,” says Robert Johnston, Senior Vice President of Levin Johnston.

          “In this case, we had a long-time Client with two small properties in the region who was seeking an opportunity to expand his portfolio. We facilitated a smooth 1031 exchange for the buyer, ultimately meeting the needs of both the buyer and seller in this transaction.”

            Velocity at Sequoia Station is located near downtown Redwood City offering residents a short walk to various shopping and dining options as well as multiple public transportation hubs. The property is in close proximity to many of the nation’s top tech employers including Google, Apple, Tesla and several more.

“This community is situated directly in the heart of Silicon Valley, which boasts exceptional renter fundamentals,” states Johnston. “The region is home to a highly educated and high income earning population, providing an opportunity for strong long-term NOI for multifamily owners.”

            The property is located at 1331 Jefferson Avenue in Redwood City, California.

  

For more information, please contact:

Jordan Kruk / Jenn Quader 

Brower Group

(949) 955-7940

JKruk@brower-group.com

Crossman & Co. Closes Parkland Town Center Sale in Parkland, FL

 

Brian Carolan

PARKLAND, FL -- Crossman & Company, one of the Southeast’s largest retail leasing, property management and investment sales firms, has negotiated the sale of Parkland Town Center in Parkland Fla. to a private investor in South America.

Crossman & Company’s Managing Director Brian Carolan represented the New York City based institutional seller in the $6.8 million transaction.

“We received significant interest in Parkland Town Center given its infill location and tremendous household incomes,” explains Carolan.  “Despite a rise in interest rates this year, pricing for destination retail remains strong.”

Crossman & Company has experience in retail and office leasing, property management and investment sales of shopping centers, single-tenant, triple-net assets, as well as mixed-use and lifestyle properties

Jose Chapman

Parkland Town Center sits on 5.5 acres at 6604-6710 Parkside Dr. in Parkland. The center’s 34,930 square feet is 96 percent occupied. Jose Chapman of A+ International Realty represented the buyer.

Parkland Town Center is in the heart of several upscale residential communities just north of Holmberg Road. The shopping destination is close to several 500+ unit residential neighborhoods currently under construction.

For more information, please contact:

Mike Bonts

Public Relations | Brand Development | Content Marketing
(904) 424-6641
www.mbprgroup.com

(407) 581-6242 or

 bcarolan@crossmanco.com or

 www.crossmanco.com.

14 Investment Sales and Debt Professionals Join JLL in Denver, Phoenix and Seattle

 

Brandon Harrington

 DENVER, PHOENIX and SEATTLE – Multifamily assets continue to be a target for investors, ending 2017 with nearly $140 billion in transaction volume in the U.S. alone.

 To keep pace with demand, JLL announced the expansion of its leading multifamily platform with the addition of 14 professionals across the West, including two industry veterans hired as Managing Directors in the Phoenix office of JLL .

“JLL is committed to an integrated capital markets business to serve the commercial real estate industry. For our multifamily offerings that means global capital access, local market knowledge and capital markets expertise to deliver solutions – whether buying, selling or financing a multifamily asset,” said JLL International Director David Williams.

Matt Steffen

“In 2017, JLL completed more than 600 assignments and $18.7 billion of debt, equity and sales transactions in the U.S. 

"The addition of these talented individuals to our platform in the West further support our commitment to a strong, connected presence in the marketplace,” he added.

Phoenix

Joining JLL in Phoenix are Managing Directors Brandon Harrington and Matt Steffen, a market-leading duo specializing in multifamily debt and equity opportunities nationwide. 

Bringing over 25 years of combined experience, Harrington and Steffen arranged more than $1 billion of financing in the past two years alone, with nearly 75 percent of the volume financed with Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development (HUD). Harrington and Steffen join from a nationally recognized brokerage firm, along with two additional team members.

Peter Belisle

Based out of Phoenix, Harrington and Steffen are tasked with growing JLL’s multifamily presence between Denver and Southern California, and will be partnering with investment sales teams in the region.

“The connectivity in our multifamily platform is bolstered by the diverse range of geographic and product offerings we have. 

"Our new partners bring exceptional experience and will continue to deliver the high quality service our clients have come to expect when they work with JLL,” said Peter Belisle, JLL Southwest Market Director.

Harrington holds a bachelor’s degree in business from the W.P. Carey School of Business at Arizona State University, and is a member of the Arizona Multihousing Association (AMA).

David A. Williams

Steffen earned a bachelor’s degree in marine transportation from the California Maritime Academy at California State University (Vallejo) and a professional graduate-level certificate in finance through Harvard University. He is a member of ULI and the AMA.

  

Denver

Expanding JLL’s multifamily presence in Denver are David Martin, Pamela Koster and Mike Grippi. They join from Moran & Company along with three additional team members. Together, they have more than 50 years of experience and nearly $8 billion in multifamily debt and sales transactions.

Added Paul Washington, JLL Market Director, Rocky Mountain Region, “Denver’s strong job growth continues to outpace its robust population growth, which is fueled by the net-migration of an educated workforce. 

" Each of these factors contribute towards the demand for, and the value of, multifamily product. The addition of this highly talented team of professionals to our already strong multifamily platform speaks to JLL’s dedication to serving our clients with the very best strategic advice and execution, and growing our market share as a result.”

Paul Washington

Martin earned a degree in finance from Texas A&M University and holds a Graduate Certificate in finance from Southern Methodist University. He is a member of the Urban Land Institute (ULI) and the National Multifamily Housing Council.

Koster holds a bachelor’s degree from Loyola University of Chicago and a Master’s of Business Administration from Loyola Marymount University. She is a member of ULI and CREW Denver. Grippi holds a Bachelor of Science in economics from the University of Oregon.

Seattle
Managing Director Jim Schneider and Vice Presidents Madeleine Roach and William “Wim” Roach have joined the multifamily platform in Seattle, along with one other team member. 

 A 16-year veteran of HUD originations in the Pacific Northwest, Schneider has closed more than $2 billion in HUD loans in his career, including more than $1.2 billion in the last seven years with his prior firm, Centennial Mortgage.

Brian Kelleher

 Prior to that, he was Director of Operations for PGIM Real Estate Finance, one of the largest FHA loan originators in the country.

“The addition of Jim and his talented team significantly enhances our agency lending platform in the Puget Sound region, giving our clients access to a wealth of experience, insight and support with which to navigate what can sometimes be very complex loan programs,” said Brian Kelleher, International Director, JLL.

Schneider, who was on the tennis and ski teams while an undergraduate at Seattle University, holds a bachelor’s degree from SU and a Master’s of Business Administration in operations, marketing and ECIS from Loyola University in Chicago.

Wim and Madeline Roach, who have closed over $166 million in HUD loans combined since 2016, both hold bachelor’s degrees from Gonzaga University.

   

For more information, please contact:

Contact: Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

www.jll.com or www.jll.com/phoenix

  http://bit.ly/18P2tkv.

Lincoln Property Company Names Commercial Industry Veteran Damien Madsen Senior Vice President

Damien Madsen

ORLANDO, FL – Lincoln Property Company Southeast, a full service commercial real estate firm, recently announced that Damien Madsen has joined the company as Senior Vice President.

Madsen is one of Central Florida’s most seasoned professionals with 30 years of development and commercial real estate brokerage experience. 

Scott Stahley

At Lincoln Property Company he will be responsible for overseeing office leasing operations and building the office leasing team, said Scott Stahley, Executive Vice President. 

“Damien and I have known each other for 20 years and have often talked about working together.  We finally got the opportunity,” Stahley said.

  

For more information, contact

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