Native Realty Closes Sale of Future Multifamily Development Site in Three Weeks

  

 Sara Dorfman

 FORT LAUDERDALE, FL,  June 26, 2024 – Native Realty, the pioneering Fort Lauderdale-based real estate firm led by Jaime Sturgis, completed another creative transaction in the city’s Flagler Village neighborhood. Sturgis and Native Associate Sara Dorfman closed the property sale on behalf of the seller after just 21 days on the market.

 

At $754 per building square foot and $126 per land square foot, the sale was a tremendous outcome for Native’s client. The total sale price for the 500 NE First Ave. property was $800,000.

 

One of Fort Lauderdale’s original homes, built in 1935, is currently located on the property. The buyers plan to develop a boutique apartment building on a portion of the site.

 

Dorsky Yue International Architecture, the architect of the planned 500 Art Lofts development in downtown Fort Lauderdale, has been engaged to design the project.

Bryan Perez 

“Closing a deal like this in just three weeks requires extraordinary local market knowledge and relationships,” Sturgis said. “The price per square foot is about as high as you will see in Flagler Village.

 

"We successfully communicated the unique appeal, character and development potential of the property to achieve this pricing.”

 

Bryan Perez of Weichert Realtors represented the buyers in the transaction.

 

 

CONTACT

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

 

 

Excelsa Properties acquires multifamily community in Dallas, TX; will invest $4 million on upgrades

  

David Fletcher

 DALLAS, TX, June 26, 2024 -- Excelsa Properties announced today that it has acquired Pear Ridge, a 168-unit multifamily property located at 4753 Old Bent Tree Lane, Dallas, Texas. The price was not disclosed.

 

The acquisition represents the fifth multifamily property acquisition of Excelsa US Real Estate II, LP and the 18th multifamily acquisition across its portfolios. The value-add property, Pear Ridge, was jointly acquired by Excelsa US Real Estate II, LP and an Excelsa co-investment vehicle.  

 

Pear Ridge, a 168-unit multifamily property
located at 4753 Old Bent Tree Lane, Dallas, TX

Built in 1986, Excelsa Properties will invest $4.3 million to comprehensively upgrade Pear Ridge. Improvements include the installation of new countertops, stainless steel appliances, tile backsplash, vinyl flooring, lighting and plumbing fixtures, and ceiling fans.

 

 Exterior renovations include roof repairs, boiler repairs, painting refresh, concrete repairs, stair system, HVAC repairs, landscaping, pool fixtures, and clubhouse rehab.

 

“Pear Ridge is ideally located in the Dallas-Fort Worth (DFW) metropolitan area.'' said David Fletcher, managing director at Excelsa Properties. “The area enjoys very high job growth and solid employment which support occupancy, rent growth and asset valuations.  Pear Ridge will benefit as the Dallas economy grows.”

 

Pear Ridge is situated in the highly attractive, 3rd largest county in the region, Collin County, with a population of more than 1.2 million residents and 782,000 employees.  The 12-building gated community features a swimming pool, clubhouse, business center, 24-hour fitness center, laundry facilities, storage spaces, transportation services, and lounges.

Jonathan Woods

With this acquisition, Excelsa Properties has acquired nearly $610 million in U.S. multifamily properties since 2009.

 

Jonathan Woods, COO of Excelsa Properties, added “Excelsa continues to seek to acquire multifamily properties offering potential for risk adjusted returns in line with the targets of Excelsa US Real Estate II, LP."

 

 

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.”

 

www.excelsaholding.com.

 

 

Blackton Inc. in Holly Hill to Provide Flooring for New DR Horton Community Ormond Station in Ormond Beach, FL

 

Michael Blackton

 HOLLY HILL, FL and ORMOND BEACH, FL --- Blackton, Inc., one of the oldest and largest statewide suppliers of wholesale materials to the homebuilding industry, will supply flooring for homes at Ormond Station,  DR Horton’s newest East Volusia County community.

Located just north of Daytona Beach, on Honeybell Way off SR 40, 

Ormond Station offers one and two-story floor plans with from three to five bedrooms, up to three bathrooms and two-car garages priced from the mid-$300,000s. 

Michael Blackton, chief executive officer, said his firm’s Holly Hill location that opened two years ago has been providing prompt service to homebuilders’ communities along Florida’s east coast from Jacksonville through the Daytona Beach area.  

“We are excited to continue statewide expansion along with DR Horton by servicing Ormond Station in Ormond Beach,”  he said.  “Our highly developed expertise and stylish selection of materials complements DR Horton’s attention to interior detail and stunning finishes,” he added.

Blackton, Inc., a family-owned business headquartered on Alden Road north of downtown Orlando with branch locations in Holly Hill, Leesburg and South Orlando, has been supplying the home building industry from Jacksonville to Tampa for 70 years. 

 

CONTACTS

 

Michael “Micky” Blackton,

CEO, Blackton, Inc.

407-898-2661 

Micky@Blacktoninc.com

 

Beth Payan, Larry Vershel Communications Inc.

 407-461-3781 

Beth@LarryVershel.com

 

           Rendering of VERVE Tempe.  Source: ESG Architecture &                                                 Design, provided by Subtext

 

VERVE Tempe, a planned 15-story student apartment community located within walking distance  of the Arizona State University campus in Tempe, AZ.

 Tempe, AZ, June 25, 2024 – Subtext, a national student and multifamily housing developer, announced today that it will start construction at 1011 E Orange Street in Tempe, Arizona for the development of VERVE Tempe, a 15-story student apartment community located within walking distance of the Arizona State University campus.

 

                                       VERVE Knoxville

VERVE Tempe will deliver in Fall 2026 and is Subtext’s second project in Tempe, having delivered Canvas in 2021.

 

The 240-unit, 479,388 square foot community will offer a mix of studio, one-, two-, three-, and four-bedroom layouts, totaling 769 beds. VERVE Tempe provides residents with walkability to campus and nearby retail and restaurant attractions, as well as proximity to the Valley Metro Lightrail.

 

In addition to 2,030 square feet of street-level retail space, VERVE Tempe will boast elevated amenities, including a coffee bar with hot and nitro options; dedicated study space with booths, pods, and collab rooms; game room with golf simulator; rooftop pool deck; and two-story fitness and wellness center with spa, sauna, and yoga studio.

 Brandt Stiles

“VERVE takes ‘live, work, study, play’ to the next level. Subtext is excited to bring this experience to ASU students,” said Brandt Stiles, Founding Partner, Subtext. “Student housing needs in Tempe continue to grow. With the right location and a thoughtfully designed community, our goal is to deliver an unmatched resident experience.”

 

Architecture and interiors are by ESG Architecture & Design, which Subtext has a strong history of working with in designing its upscale developments. Other development team partners include general contractor Brinkmann Constructors with construction financing provided by Kennedy Wilson.

 

 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.”

 

Native Realty Welcomes Corey Kingsbury to Growing Team of Commercial Real Estate Associates

 

Corey Kingsbury

FORT LAUDERDALE, FL, June 25, 2024 – Native Realty, the pioneering Fort Lauderdale-based real estate firm led by Jaime Sturgis, bolstered its expanding team of commercial real estate specialists with the addition of new Associate Corey Kingsbury.

 The broker joins Native from Horvath & Tremblay, where he focused on retail investment sales throughout Broward County.

 

“Corey Kingsbury is a rising star in South Florida commercial real estate and further strengthens our growing team at Native,” Sturgis said. “The experience Corey gained while serving our country and overseeing sales and client relations with numerous professional sports franchises gives him a great foundation as a real estate broker."

Whitney Dutton

Earlier this year, Native acquired full-service Fort Lauderdale brokerage No Limit Real Estate, the Kyle Sorel and Jordan Cohen-led firm with 18 agents.

 That followed the arrival of Native Residential Sales Director Whitney Dutton and his team from Re/Max, which facilitated the launch of Native’s residential real estate division.

 

CONTACT

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

www.nativerealty.com

Enso to build $500 million, first of its kind carbon-neutra tire factory in U.S

  

Gunnlaugur Erlendsson

.Washington, DC -- ENSO, the tire technology company that makes better tires for electric vehicles (EVs), has signed a Letter of Interest (LOI) with the Export-Import Bank of the United States (U.S. EXIM Bank) to establish a groundbreaking carbon-neutral tire factory in America.

 

 U.S.-based technology partners Rockwell, global sustainable development firm Arup and US-based investors 8090 Industries and Galway Sustainable Capital, are supporting ENSO.

The first-of-its-kind tire factory will be carbon-neutral without purchased offsets, utilizing carbon-neutral raw materials, building materials and 100% renewable energy.

In its first phase, the factory will produce 5 million EV tires by 2027 and create 600 jobs, rising to 2,400 jobs when built out to full production capacity of 20 million tires – 8% of America’s total annual tire market.

The ENSO technology campus will integrate research and development with production under one roof to accelerate and scale innovation.

Announced at the SelectUSA Investment Summit in Washington DC, potential factory locations include Colorado, Nevada, Texas, and Georgia, with other states in consideration.

The U.S., particularly California, has a significant EV consumer base and is leading efforts to regulate tire efficiency and emissions, making the U.S. the ideal market for ENSO.

ENSO CEO Gunnlaugur Erlendsson said, "The U.S. is the best place for ENSO to establish its first carbon-neutral tire factory.

  "With strong regulatory support and a significant market opportunity, we are committed to bringing our innovative, low-emission, low-cost tires to American consumers.

 

"This factory will make tires more affordable, reduce tire pollution, create great jobs and drive sustainability in the U.S. tire industry.”

 

 

 Contact: 

 

Rebecca Diver-Clarke

ENSO Media Relations

media@ensotyres.com