Capital Markets

Cushman & Wakefield Negotiates Sale and Financing of Kendall Summit Office Park

Miguel Alcivar, Mike Davis, Dominic Montazemi, Scott O’Donnell, Greg Miller, Rick Brugge and Michael Lerner Negotiated the $34.75 Million Disposition on Behalf of TA Realty. Jason Hochman Secured a $26 Million Acquisition Loan for the Buyer, COFE Properties MIAMI, FL, June 29, 2018 — Cushman & Wakefield has negotiated the sale and financing of Kendall Summit Office Park, a six-building office campus in the dense Kendall micro-market of Miami-Dade County. The Cushman & Wakefield Capital Markets team of Miguel Alcivar, Mike Davis, Dominic Montazemi, Scott O’Donnell, Greg Miller, Rick Brugge and Michael Lerner negotiated the sale on behalf of Boston-based TA Realty. Miami-based COFE Properties acquired the 173,661-square-foot office park for $34.75 million ($200 per square foot). Jason Hochman of Cushman & Wakefield’s Equity, Debt & Structured Finance Group assisted COFE Properties in securing a $26 million non-recourse acquisition loan with a low interest rate. The loan provided funds at closing and additional proceeds for future property renovations and leasing costs. Kendall Summit Office Park was developed between [...]

2018-06-29T14:26:11+00:00 June 29th, 2018|Capital Markets, In the News, Office, Press Release|

Cushman & Wakefield to Market Dania Beach Mixed-Use Project

The South Florida Multifamily Team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn was Selected by ahs Residential to Market The Place at Dania Beach, a 144-Unit Multifamily Community with Ground-Floor Retail DANIA BEACH, FL — Cushman & Wakefield has been named exclusive advisor for the disposition of The Place at Dania Beach, a recently completed 144-unit luxury mid-rise multifamily community with 6,771 square feet of ground-floor retail in downtown Dania Beach. The South Florida Multifamily team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn was selected to market the asset by Miami-based developer ahs Residential. The offering is unpriced. The Place at Dania Beach was completed in 2017 and comprises a single seven-story residential building with ground-floor retail, a rooftop pool and amenity deck and attached structured parking. Units at The Place at Dania Beach average 890 square feet with an average market rent of $1,784 per unit. The property is already 100% leased. The [...]

2018-05-09T12:03:28+00:00 May 9th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Completes Two South Beach Multifamily Sales Totaling $33 Million

The Beach is Back – Two Property Sales at 550 9th St. and 250 Collins Ave. Highlight Resurgence of Investor Interest in South Beach Multifamily Market MIAMI, FL – Cushman & Wakefield has negotiated the disposition of two multifamily properties in Miami’s South Beach totaling $33 million. The sales are indicative of increasing investor interest and sales activity in the South Beach market. Cushman & Wakefield Executive Managing Director Calum Weaver and Senior Financial Analyst Perry Synanidis represented the sellers in both transactions. The first transaction was a six-story, 52,133-square-foot redevelopment property at 550 9th St., which sold for $17.6 million, or $338 per square foot to 550 9th LLC. The seller was ADME Real Estate LLC. The second transaction was for a 23,260-square-foot ultraluxury property at 250 Collins Ave., which sold for $14.6 million to Drago Capital Miami LLC. The 27-unit property traded for $540,000 per unit, or $770 [...]

2018-04-23T18:42:57+00:00 March 28th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $6M Sale of Allapattah Commercial Property

The Cushman & Wakefield South Florida Commercial Team Negotiated the Disposition of the ±33,000-Square-Foot Centennial Express Building on Behalf of Centennial Express, Inc. MIAMI, FL, March 9, 2018 — Cushman & Wakefield has negotiated the sale of the Centennial Express Building, a 33,339-square-foot commercial property in Miami’s Allapattah neighborhood. The Cushman & Wakefield Capital Markets team of Miguel Alcivar and Dominic Montazemi, in conjunction with Cushman & Wakefield leasing partners Tony Jones and Frank Begrowicz, negotiated the disposition on behalf of Centennial Express, Inc. New York-based Edenderry Properties, LLC acquired the asset for $6 million ($180 per square foot). Scott Sime of Sime Realty Corporation represented the buyer. The Centennial Express Building was developed in 1945 on a ±1.7-acre parcel at 1251 NW 36th Street. The concrete block building occupies an entire city block. The property is centrally located along NW 36th Street, a main east-west arterial connecting the trendy neighborhoods surrounding Biscayne Boulevard to Miami International Airport and Doral. This location, just north [...]

2018-04-23T18:42:58+00:00 March 12th, 2018|Capital Markets, In the News, Office, Press Release, Retail|

Cushman & Wakefield Represents Stock Development in Record Fort Myers Multifamily Sale

$71 Million Transaction Sets New Price-Per-Unit Record FORT MYERS, FL — Cushman & Wakefield’s Florida Multifamily Group has negotiated the sale of Spectra Apartments for $71.425 million ($220,448 per unit). The per-unit price for the 324-unit community established a new high water mark for the Fort Myers market. Led by Vice Chairman Robert Given, the Cushman & Wakefield investment sales team responsible for executing the disposition was comprised of Zachary Sackley, Neal Victor, Luis Elorza, Brad Capas and Gary Tasman. Spectra Apartments was developed and sold by Naples-based Stock Development. Stock has a long history of developing luxury single-family homes and Spectra marks its first completed multifamily asset. The property was acquired by an entity affiliated with Coastal Ridge Real Estate based in Malibu, CA. Completed in July 2017, Spectra consists of 324 luxury apartments in 12, three-story apartment buildings on 32.5-acre site. The average unit size is approximately 993 [...]

2018-04-23T18:42:58+00:00 March 2nd, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates Sale and Financing of Murano Apartments in Orlando

Robert Given, Jay Ballard and Ken Delvillar Negotiated the Sale and Robert Kaplan, Chris Lentz and Mark Rutherford Arranged the Financing of the 240‐Unit Luxury Apartment Community ORLANDO, FL — Cushman & Wakefield has arranged the sale and financing of Murano Apartments, a 240-unit luxury multifamily apartment community in the South Orlando/Hunters Creek submarket. The Cushman & Wakefield Multifamily Advisory team of Robert Given, Jay Ballard and Ken Delvillar represented the partnership of The Courtelis Company, Kislak Organization and HMG/Courtland Properties in the disposition. Aventura, FL-based Cardone Real Estate Acquisitions, LLC acquired the asset. Cushman’s Equity, Debt and Structured Finance team of Robert Kaplan, Chris Lentz and Mark Rutherford arranged the senior debt on behalf of the buyer. Murano Apartments is a three-building, four-story suburban mid-rise multifamily community built in 2016 on a ±9.5-acre site at 9932 Grande Lakes Boulevard. Located in southern Orlando, between Disney and the Orlando International [...]

2018-04-23T18:42:58+00:00 March 1st, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $53M Sale of The Queue Apartments in Fort Lauderdale

The South Florida Multifamily Team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn Negotiated the Disposition of the 191-Unit Boutique Urban-Core Asset on behalf of Urban Street Development and Fazio Properties​ FORT LAUDERDALE, FL  — Cushman & Wakefield has negotiated the sale of of The Queue Apartments, a 191-unit boutique urban-core multifamily community located in downtown Fort Lauderdale. The South Florida Multifamily team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn negotiated the disposition on behalf of Urban Street Development and Fazio Properties. Miami-based Boardwalk Properties acquired the asset for $53 million ($277,487 per unit). The Queue Apartments comprises a single seven-story, mid-rise building totaling 153,963 square feet. The community offers a mix of studio, one-, two- and three-bedroom units ranging in size from 529 square feet to 1,275 square feet. The average unit at The Queue Apartments is 806 square feet. The asset was completed in 2017 and was 95 percent leased at the time of sale. Units at [...]

2018-04-23T18:42:59+00:00 February 23rd, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $22.8M Sale of Transal Park

Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Michael Lerner and Rick Brugge Represented the Seller in the Disposition of the Six-Building Flex Campus DORAL, FL — Cushman & Wakefield has negotiated the sale of Transal Park, a six-building flex campus in Miami-Dade County. The Cushman & Wakefield Capital Markets team of Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Michael Lerner and Rick Brugge, in conjunction with Cushman & Wakefield leasing partners Wayne Ramoski and Gian Rodriguez, negotiated the disposition on behalf of the seller. SVF Acquisitions, LLC purchased the asset for $22.8 million ($170 per square foot). Transal Park comprises six one-story buildings totaling 134,175 square feet on a 10.4-acre site at 8200 - 8290 NW 27th Street. The buildings offer flexible bays with a combination of direct-access front office and rear warehouse with grade-level entries to truck courts. Other features include tenant signage, on-site security, a restaurant and a parking ratio of 3.6 spaces per 1,000 rentable square feet. The [...]

2018-04-23T18:43:00+00:00 January 22nd, 2018|Capital Markets, In the News, Industrial, Press Release|

Cushman & Wakefield Brings Strada Wynwood Assemblage to Market

Robert Given, Robert Kaplan, Troy Ballard, Errol Blumer, James Quinn and Mark Rutherford were Named Exclusive Advisors in the Disposition of a 1.72-Acre Development Site in Miami’s Hottest Emerging Market MIAMI, FL — Cushman & Wakefield announced today that it has been named exclusive advisor for the sale of Strada Wynwood, a 1.72-acre assemblage of land at the intersection of NW 2nd Avenue and NW 25th Street in the heart of Miami’s emerging Wynwood neighborhood. The South Florida Multifamily team of Robert Given, Robert Kaplan, Troy Ballard, Errol Blumer, James Quinn and Mark Rutherford were selected to market the assemblage on behalf of the William & Doris Friedopfer Trusts. The land will go to market unpriced. The assemblage comprises 1.6 acres of contiguous land on seven lots in the southeast quadrant of NW 25th Street and NW 2nd Avenue — 2421 NW 2nd Avenue, 2431 NW 2nd Avenue, 2455 NW 2nd Avenue, 146 NW 25th Street, 172 NW 25th Street, 159 NW 25th Street and 169 NW 25th Street; [...]

2018-04-23T18:43:00+00:00 January 17th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $17.65M Sale and Financing of Lakeside Plaza

The South Florida Commercial Team of Dominic Montazemi, Scott O’Donnell, Greg Miller and Miguel Alcivar Negotiated the Disposition of the ±120,000-Square-Foot Fort Lauderdale Office Building. Jason Hochman helped in securing the acquisition financing. FORT LAUDERDALE, FL — Cushman & Wakefield announced today that it has negotiated the disposition of Lakeside Plaza, a 119,370-square-foot office building in Fort Lauderdale’s Uptown Business District. Cushman & Wakefield’s South Florida Commercial Team of Dominic Montazemi, Scott O’Donnell, Greg Miller and Miguel Alcivar, in conjunction with the office leasing team of Travis Herring and Deanna Lobinsky, negotiated the disposition on behalf of New York-based Delma Properties Inc. Hollywood, FL-based Naya USA Investment & Management LLC acquired the asset for $17.65 million ($147.85 per square foot). Team member Jason Hochman, representing Cushman & Wakefield’s international Equity, Debt and Structured Finance (EDSF) platform, assisted in securing a $12.4 million acquisition loan on behalf of Naya USA Investment & Management LLC. Lakeside Plaza is a five-story, 119,370-square-foot office building developed on a six-acre site at 6301 NW [...]

2018-04-23T18:43:00+00:00 January 5th, 2018|Capital Markets, In the News, Office, Press Release|