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Cushman & Wakefield Arranges $20.35M Sale of South Texas Senior Living Campus

Allen McMurtry, Paul Carr and David Kliewer Represented an Affiliate of Senior Quality Lifestyles Corporation in the Sale of Mirador in Corpus Christi CORPUS CHRISTI, TX, May 16 2019 — Cushman & Wakefield has negotiated the sale of Mirador, an upscale, 228-unit continuing care retirement community in South Texas. The Tampa, Florida-based Cushman & Wakefield Senior Housing team of Allen McMurtry, Paul Carr and David Kliewer represented an affiliate of Addison, Texas-based Senior Quality Lifestyles Corporation (SQLC) in the disposition. An affiliate of Methodist Retirement Communities (MRC), based in The Woodlands, Texas, acquired the asset for $20.35 million ($89,254 per unit). Mirador was developed in 2011 and comprises three interconnected buildings totaling ±271,455 square feet of living, dining and common space. The Class A facility offers a full continuum of care ranging from independent living, assisted living, memory care and skilled nursing. Mirador houses 125 independent living apartments, 44 assisted living units, 18 memory care units and 41 skilled nursing units. The [...]

By |2019-05-16T12:19:41-04:00May 16th, 2019|In the News, Press Release|

Two Cushman & Wakefield-Managed Properties Receive BOMA Southern Region TOBY Awards

The Winning Properties, Memorial Center I & II and Tampa City Center, Will Now Compete at the International Level TAMPA, FL, April 17, 2019 – The Building Owners and Managers Association (BOMA) has awarded Cushman & Wakefield’s Tampa Asset Services team with two TOBY Awards for the Southern Region. Memorial Center I & II and Tampa City Center, both Cushman & Wakefield-managed properties, won the TOBY in their respective categories at the regional level. The TOBY program, which stands for The Outstanding Building of the Year, is the most prestigious and comprehensive program of its kind in the commercial real estate industry, recognizing quality in buildings and rewarding excellence in building management. Memorial Center I & II, at 4919 and 4921 Memorial Highway, won the TOBY in the “Suburban Office Park - Low Rise” category. Key members of the Property Management Team include Property Manager Katlin White, Assistant Property Manager Candace Richardson [...]

By |2019-05-16T12:22:15-04:00April 17th, 2019|In the News, Press Release|

Cushman & Wakefield Negotiates Sale of The Park at Via Rosa for $63 Million

A Joint Venture between Providence Real Estate and Aegon Real Assets Acquired the 390-Unit Multifamily Community in Brandon, Florida TAMPA, FL, April 2, 2019 — The Park at Via Rosa, a 390-unit multifamily community in Hillsborough County, has been sold for $63 million ($161,538 per unit). The property was acquired by a joint venture between Chicago-based Providence Real Estate and Aegon Real Assets US (Aegon RA). The seller was Grand Rivage at Brandon Lakes, Ltd., managed by Blue Roc Premier. Luis Elorza, Brad Capas and Michael Mulkern of Cushman & Wakefield’s Florida Multifamily Group facilitated the transaction and assisted Providence Real Estate with its equity raise. The transaction marks Aegon RA’s first multifamily acquisition under its recently formed Workforce Housing Investment Program. Aegon RA provides yield-oriented private debt and equity strategies and specialty solutions backed by a full range of in-house support services. Aegon RA’s multi-disciplined team of professionals manages and advises over $19 billion in real assets. The Park at Via Rosa is [...]

By |2019-07-17T13:34:08-04:00April 2nd, 2019|In the News, Press Release|

Cushman & Wakefield Represents Venterra in Sale of Calais Park Lofts Apartments

29th Street Capital Acquires the 261-Unit, Value-Add Community ST. PETERSBURG, FL, February 15, 2019 — Cushman & Wakefield has negotiated the sale of Calais Park Lofts Apartments, a 261-unit multifamily community in Pinellas County. Luis Elorza, Brad Capas, Robert Given and Michael Mulkern of Cushman & Wakefield’s Florida Multifamily Group represented Toronto-based Venterra in the disposition. San Francisco- and Chicago-based 29th Street Capital acquired the property. Calais Park is a 38-building, 317,376-square-foot community developed in 2003 on a ±17.6-acre site at 5800 Calais Lane in St. Petersburg. The two-story, garden-style property features a unique “Big House” design with one-, two- and three-bedroom floor plans with an average size of 1,216 square feet and an average market rent of $1,588 ($1.31 per square foot). The asset was 98% leased at the time of sale. Venterra completed a $1.5 million capital improvement during its ownership period that added upgraded appliances, new goose-neck plumbing fixtures, resurfaced birch kitchen cabinets, new ceiling fans, new lighting fixtures, new 2” blinds and [...]

By |2019-02-21T14:33:03-04:00February 15th, 2019|In the News, Press Release|

‌Cushman & Wakefield Negotiates $48.4M Sale of South Carolina Assisted Living Portfolio​

Paul Carr, David Kliewer and Allen McMurtry Represented Graycliff Capital Senior Housing, LLC in the Sale of Three Assisted Living and Memory Care Facilities in the Upstate Region GREENVILLE, SC, February 8, 2019 — Cushman & Wakefield has negotiated the sale of three assisted living and memory care communities totaling 198 units in the Greenville, SC, metro area. The Tampa, FL-based Cushman & Wakefield Senior Housing team of Paul Carr, David Kliewer and Allen McMurtry represented Greenville-based Graycliff Capital Senior Housing, LLC in the disposition. Birmingham, AL-based Atlas Senior Living acquired the properties for $48.4 million ($244,444 per unit). The portfolio includes three assisted living and memory care facilities in South Carolina’s Upstate region — Spring Park, constructed in 2014 at 925 North Main Street in Travelers Rest; Fairview Park, developed in 2015 at 544 Harrison Bridge Road in Simpsonville; and Oakview Park, built in 2016 at 110 Hood Road in Powdersville. “Graycliff strategically developed this portfolio within the Greenville market to avoid overlap, capture economies of scale and allow [...]

By |2019-02-21T15:11:17-04:00February 8th, 2019|In the News|

Cushman & Wakefield Negotiates $50M Sale of Lakeland Multifamily Community​

Blue Roc Premier Obtained Victoria Landing from Mercury Investment and Has Rebranded the Property as The Park at Palazzo LAKELAND, FL, February 5, 2019 — Cushman & Wakefield has negotiated the sale of Victoria Landing, a 352-unit multifamily community in Central Florida. Brad Capas, Luis Elorza and Robert Given of Cushman & Wakefield’s Florida Multifamily Group represented Duluth, MN-based Mercury Investment in the disposition. Tampa-based property management company Blue Roc Premier obtained the property for $50 million ($142,045 per unit) and has rebranded it as The Park at Palazzo. The Park at Palazzo is a 12-building, 383,212-square-foot community developed in 2007 on ±24.0-acre site at 3685 Victoria Manor Drive. The property features one-, two- and three-bedroom floor plans with an average size of 1,089 square feet and an average market rent of $1,376 ($1.51 per square foot). The garden-style asset was 98% leased at the time of sale. Units at The Park at Palazzo feature walk-in closets; full-size washers and dryers; security alarms; nine-foot ceilings; [...]

By |2019-02-11T15:16:36-04:00February 5th, 2019|In the News, Press Release|

Leading National Self-Storage Investment Sales Team Joins Cushman & Wakefield

The 16-Person Team, Led by Vice Chairman Mike Mele, is Based in Tampa, FL TAMPA, FL, January 30, 2019 – Cushman & Wakefield is pleased to announce that The Mele Group, an industry-leading self-storage investment sales team, has joined the firm. The 16-member, multi-market team is led by Vice Chairman Mike Mele, a veteran of the commercial real estate industry with 20 years’ experience specializing in the sale of self-storage assets. Mele and his team will be based in Cushman & Wakefield’s Tampa office, with several brokers sitting in other offices around the country. In addition to Mele, the team includes Executive Managing Director Luke Elliott (Tampa), Senior Director Robert Bloch (Bethesda, Maryland), Senior Director Trey Hammond (Tulsa, Oklahoma), Director Devin Beasley (Tempe, Arizona), Senior Associate Brian Fulton (Tampa), and Senior Associate Noah Obuchowski (Washington, DC). Nine non-broker team members will also be based in the Tampa office. The team [...]

By |2019-02-05T15:18:36-04:00January 31st, 2019|In the News|

Cushman & Wakefield Negotiates $72.6M Sale of Two Florida Apartment Communities

Centennial Holding Company Acquired Century Ariva Apartments and Lakehouse Luxury Apartment Homes​ TAMPA, FL, January 25, 2019 — Cushman & Wakefield has negotiated the sale of Century Ariva Apartments and Lakehouse Luxury Apartment Homes. The transactions were valued at $72.6 million. Luis Elorza, Brad Capas and Robert Given of Cushman & Wakefield’s Florida Multifamily Group represented Highland City Gardens, LLC in the sale of Century Ariva Apartments, a 312-unit community in Lakeland, FL. Atlanta-based Centennial Holding Company, LLC acquired the property for $54.6 million ($175,000 per unit). Elorza, Capas and Given also arranged the sale of Lakehouse Luxury Apartment Homes, a 125-unit community in Plant City, FL, on behalf of Lakeside Garden of Plant City, LLC. Centennial Holding Company, LLC acquired the asset for $18.0 million ($144,000 per unit). “These assets are among the highest-quality rental communities in their respective markets and appeal to the top end of the rental market, enabling Centennial to acquire superior quality properties in a high-growth market that exhibits consistent, strong performance [...]

By |2019-02-11T15:26:26-04:00January 25th, 2019|In the News, Press Release|

Cushman & Wakefield Arranges Sale and Financing of 201,620-SF Tampa Industrial Park

South Florida-Based Joint-Venture Between Genet Property Group and The Geneva Group Acquires Executive Industrial Park from an Institutional Owner TAMPA, FL, January 14, 2019 – Cushman & Wakefield has arranged the sale and financing for Executive Industrial Park, a high-quality infill logistics center in Tampa. Pricing was undisclosed for the 201,620-square-foot value-add property, which consists of seven small-bay warehouse/distribution buildings. The Cushman & Wakefield Investment Sales Team of Executive Director Rick Brugge, Vice Chairman Mike Davis and Executive Director Michael Lerner represented a national owner and operator of industrial real estate in the disposition. Senior Director Jason Hochman and Senior Director Chris Lentz, of Cushman & Wakefield’s Equity, Debt & Structured Finance Group, assisted a joint-venture between Genet Property Group and The Geneva Group in securing financing to acquire the property. The team secured a long-term, fixed-rate loan from a life insurance company. Genet Property Group and The Geneva Group are real [...]

By |2019-01-18T12:37:26-04:00January 18th, 2019|In the News, Press Release|

Cushman & Wakefield Arranges 60,000-SF Lease with L3 at 490 First Ave. S in Downtown St. Petersburg

Mercedes Angell and Lauren Coup Represented Landlord Lincoln Property Company, which Recently Acquired the Office Building TAMPA, FL, January 14, 2019 — Cushman & Wakefield has arranged a 59,982-square-foot lease with L3 Technologies at 490 First Ave. S., one of downtown St. Petersburg’s premiere office buildings. Based in New York, the major defense contractor is a leading provider of communications and electronic systems for military, homeland security and commercial aviation customers. With the move, L3 will consolidate its offices in Sarasota and St. Petersburg’s Gateway Submarket, bringing more than 200 employees to the Downtown St. Petersburg market. The new office will serve as the national headquarters for L3’s Commercial Aviation Solutions division. The Cushman & Wakefield team of Senior Director Mercedes Angell and Director Lauren Coup represented the building’s new owner, Lincoln Property Group, in the lease negotiations. The team previously handled leasing for 490 First Ave. S. on behalf [...]

By |2019-01-16T14:34:35-04:00January 14th, 2019|In the News|