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+00:00 February 5th, 2019|In the News, Press Release|0 Comments

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+00:00 January 25th, 2019|In the News, Press Release|0 Comments

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+00:00 January 18th, 2019|In the News, Press Release|0 Comments

Meoli-Donaldson Multifamily Investment Sales Team Joins Cushman & Wakefield in Florida  

  Executive Directors Nicholas Meoli and Michael Donaldson Will Focus on Expanding the Firm’s Representation of Private Equity Clients in the Tampa Bay, Central and North Florida Markets TAMPA, FL, January 8, 2019 – Cushman & Wakefield is pleased to welcome the market-leading multifamily brokerage team of Nicholas Meoli and Michael Donaldson. As Executive Directors with Cushman & Wakefield’s Florida Multifamily Investment Sales Team, the pair will be based in the firm’s Tampa office and will work primarily with private equity and non-institutional clients in the Tampa Bay, Central Florida and North Florida markets. Meoli and Donaldson will work closely with the firm’s institutional multifamily experts in these markets; Executive Directors Luis Elorza and Brad Capas in Tampa, and Executive Directors Jay Ballard and Ken Delvillar in Orlando. Meoli and Donaldson together bring more than 20 years of combined experience in commercial real estate and have worked as a team since 2012, [...]

By | 2019-01-08T15:58:05+00:00 January 8th, 2019|In the News, Press Release|0 Comments

Cushman & Wakefield Negotiates Sale of Former Golf Course where 1M-SF Industrial Facility will be Developed

Developers Transwestern Development Co. and Crow Holdings also have Retained Cushman & Wakefield to Lease for the I-4 Corridor Property LAKELAND, FL, December 5, 2018 – Cushman & Wakefield has negotiated the sale of a 183.5-acre former golf course site in Lakeland, which will be redeveloped into a Class A industrial project totaling over 1 million square feet. Transwestern Development Co. in partnership with Crow Holdings acquired the property and will break ground on the speculative industrial project in January 2019. The developers retained the Cushman & Wakefield Industrial Leasing team of Senior Director Jared Bonshire and Senior Director David Perez, based in Orlando, along with Senior Director Julia Silva of Tampa. Bonshire and Perez, along with Director Andrew Slowik and Senior Director Margery Johnson, of Cushman & Wakefield’s Land Advisory Group, negotiated the sale of the property on behalf of the seller. Called University Park at Bridgewater, the facility [...]

By | 2018-12-12T11:14:25+00:00 December 12th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Promotes Mike Agnew to Lead Florida Asset Services

A 25-Year Veteran of Cushman & Wakefield, Agnew Will Oversee the Firm’s Statewide Asset Services Operation Encompassing Over 40 Million Square Feet FLORIDA, December 10, 2018 – Cushman & Wakefield is pleased to announce that Mike Agnew will now serve as Senior Managing Director of Asset Services in Florida. With this promotion, Agnew will oversee the firm’s statewide Asset Services operation, which employs 260 professionals and currently encompasses 327 office, industrial and retail properties comprising more than 42 million square feet of space. Agnew brings 25 years of experience with Cushman & Wakefield to this new position. He has served in leadership roles with the firm’s Asset Services division for the majority of his career, demonstrating proven excellence in helping clients maximize property value and achieve their long-term real estate goals. “In my career I have had the honor of seeing Cushman & Wakefield evolve into a leading commercial real [...]

By | 2018-12-10T11:03:09+00:00 December 10th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Named Exclusive Agent for The DeSota in Downtown Sarasota, FL

Rare Opportunity to Acquire a Premier Apartment Community on Florida’s West Coast SARASOTA, FL, November 29, 2018 - Cushman & Wakefield, as exclusive marketing agent, has the launched the marketing campaign for The DeSota, a recently completed, condo-quality apartment community in downtown Sarasota. Atlanta-based Carter, one of the country’s leading real estate investment, development and advisory firms, along with Hunt Companies of El Paso, Texas, co-developed the luxury rental property, completing construction in March 2018. The marketing team for The DeSota will be led by Senior Director Brad Capas, Senior Director Luis Elorza and Vice Chairman Robert Given of Cushman & Wakefield’s Florida Multifamily Investment Sales Team. “The DeSota offers investors the rare opportunity to acquire one of the highest-quality and most exclusive rental communities in Florida,” said Capas. “Superior concrete construction, luxuriously appointed units and an extensive array of resort-style amenities differentiate The DeSota, setting a new standard for [...]

By | 2018-11-29T16:12:05+00:00 November 29th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges Sale of SkyHouse Channelside in Downtown Tampa for AVR Realty

Transaction Underscores Strong Investor Appetite for Core-Plus Multifamily Properties in the South-Eastern United States TAMPA, FL, November 19, 2018 — Cushman & Wakefield’s Florida Multifamily Group has negotiated the sale of SkyHouse Channelside, a 320-unit, trophy apartment community in downtown Tampa. Senior Director Luis Elorza, Senior Director Brad Capas and Vice Chairman Robert Given represented New York-based AVR Realty Company in the disposition. The buyer is an entity led by Willner Realty & Development Company, a privately held real estate investment company headquartered in Pennsylvania. This is Willner Realty’s fourth multifamily acquisition brokered by Cushman & Wakefield in the Tampa Bay area. Completed in August 2015, SkyHouse Channelside is a 23-story, luxury high-rise tower with sweeping city and water views; an expansive 567-space parking garage; and 6,482 square feet of ground-floor retail. Units range from studio to three-bedrooms and average 794 square feet. At 112 N. 12th St., the property [...]

By | 2018-11-19T16:27:22+00:00 November 19th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges $49.7 Million Sale of Mosaic at the Forum Apartments in Fort Myers

Transaction Underscores Strong Investor Appetite for Southwest Florida Multifamily Properties FORT MYERS, FL, November 9, 2018 — Cushman & Wakefield’s Florida Multifamily Group has negotiated the sale of Mosaic at the Forum, a 252-unit, newly constructed apartment community in Fort Myers, Florida. The property sold for $49.7 million or $197,321 per unit, marking Cushman & Wakefield’s second Class A apartment sale in Fort Myers this year. Senior Director Brad Capas, Senior Director Luis Elorza and Vice Chairman Robert Given represented St. Petersburg, Florida-based Mosaic Development in the transaction. Mosaic Development has multifamily development ongoing throughout southwest Florida, Tampa and Orlando. The buyer is an entity led by InvestRes, a privately held real estate investment company with multifamily assets throughout Florida and several other states. InvestRes has a Florida headquarters in Tampa. Completed in December 2017, Mosaic at the Forum, which was managed by Incore Residential, experienced a rapid lease-up and was approximately 95 percent occupied at the time of sale. The gated [...]

By | 2018-11-16T11:53:08+00:00 November 16th, 2018|In the News, Press Release|0 Comments

Cushman & Wakefield Arranges 12,000-SF Lease with Old Republic Title at SunTrust Financial Center in Fort Myers

The 60,264-SF, Class A Office Building at College Parkway is Now 88 Percent Occupied FORT MYERS, FL, October 30, 2018 – Cushman & Wakefield has arranged a 12,000-square-foot lease at SunTrust Financial Center with Old Republic Title. The 60,264-square-foot, Class A building is situated at 12751 New Brittany Blvd., at the intersection with College Parkway in the desirable South Fort Myers submarket. Cushman & Wakefield Managing Director Jason Donald, along with SunTrust First Vice President Thomas Crociata, represented SunTrust, which owns and anchors the building, in the lease negotiations. Cushman & Wakefield Director Alex Beacham represented Old Republic Title, a Tampa, Florida-based title insurance company that provides comprehensive title and escrow products and services for individuals, businesses and government entities. The company is relocating its Fort Myers office from 4315 Metro Parkway. SunTrust Financial Center was built in 1997 and offers frontage and visibility from College Parkway, one of Fort [...]

By | 2018-11-01T13:59:06+00:00 November 1st, 2018|In the News, Press Release|0 Comments