Multifamily

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 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 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|

South Florida Multifamily Market Achieves Record Pricing

Calum Weaver Authored Cushman & Wakefield’s 2017 South Florida Multifamily Recap, Detailing Historic Per-Unit and Per-Square-Foot Pricing as well as Surging Tenant Demand MIAMI, FL — Cushman & Wakefield announced today that it has released its 2017 South Florida Multifamily Recap. The semi-annual report, authored by Executive Managing Director Calum Weaver of Cushman & Wakefield’s South Florida Multifamily Team, details the state of the multifamily market in the three counties comprising South Florida — Miami-Dade, Broward and Palm Beach. The report finds an eighth consecutive year of multifamily expansion in South Florida fueled by tremendous demand from both investors and tenants. Important highlights of the report include: To date in 2017, there have been 198 multifamily sales in South Florida valued at nearly $3.6 billion. The annual record of $5.6 billion was set in 2016. Approximately half of 2017 multifamily sales in South Florida have involved Class A product. In the past two years, 85% of [...]

2018-04-23T18:43:02+00:00 December 7th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $7.1M Sale of Holly House Apartments in North Miami

Calum Weaver and Perry Synanidis Represented Barry University in the Disposition of the Now Vacant 57-Unit Student Housing Community MIAMI, FL — Cushman & Wakefield announced today that it has negotiated the sale of Holly House, a 57-unit, value-add apartment community located at 11950 NE 2nd Avenue in North Miami, FL. Calum Weaver and Perry Synanidis of Cushman & Wakefield’s South Florida Multifamily Team negotiated the disposition on behalf of Barry University, Inc. The 45,396-square-foot asset was acquired by Holly House Partners, LLC, a subsidiary of Freshwater Group — a New York investment firm led by Alfred Sayegh — for $7.1 million. “Sayegh is a big believer in the strength of the Miami residential market and has been very active with residential acquisitions over the past several years,” said Weaver. Holly House is a three-story multifamily community developed in 1968 and acquired by Barry University in 2009 to serve as student housing for the school’s growing enrollment. The university recently built new dormitories [...]

2018-04-23T18:43:03+00:00 November 15th, 2017|Capital Markets, In the News, Multifamily, Press Release|

The Bainbridge Cos. Selects Cushman & Wakefield to Market Luxury Coral Springs Apartments

The South Florida Multifamily Team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn Were Selected to Market Bainbridge Coral Springs, a New 250-Unit Core Multifamily Community CORAL SPRINGS, FL, October 26, 2017 — Cushman & Wakefield announced today that it has been named exclusive advisor for the disposition of Bainbridge Coral Springs, a recently completed, 250-unit core multifamily community in northern Broward County. The South Florida Multifamily team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn were selected to market the asset by Wellington, FL-based owner The Bainbridge Companies. The property has been brought to market unpriced. “Pricing of similar assets are exceeding $300,000 per unit,” said Given. Bainbridge Coral Springs comprises seven, five-story residential buildings offering a mix of one-, two- and three-bedroom apartment homes with modern kitchens, stainless steel appliances, nine-foot ceilings, hardwood-style flooring, washers and dryers, oversized walk-in closets, built-in storage systems, a screened patio or balcony, USB-equipped power outlets and elevator service. The average [...]

2018-04-23T18:43:04+00:00 October 27th, 2017|Florida, In the News, Multifamily|

Cushman & Wakefield Named Exclusive Agent for Spectra Apartments

The Florida Multifamily Group Expects the New Class A Fort Myers Community to Draw Interest From a Broad Range of Investors FORT MYERS, FL, October 10, 2017 — Cushman & Wakefield, as exclusive marketing agent, has announced the launch of its marketing campaign for Spectra Apartments, a newly constructed Class A multifamily community in Fort Myers, FL. Developed by Naples, FL-based Stock Development, the offering presents a prospective investor the opportunity to acquire one of the newest and highest-quality apartment communities in Southwest Florida. The marketing team for Spectra will be led by Robert Given, Zachary Sackley, Luis Elorza, Brad Capas and Neal Victor of the Cushman & Wakefield’s Florida Multifamily Team. Spectra Apartments was completed in July 2017 and comprises 324 apartments in 12, three-story apartment buildings. The property provides a unique combination of construction and design features that will be very appealing to the investment community, offering concrete block construction; 9’ 4” ceiling heights; oversized units; [...]

2018-04-23T18:43:05+00:00 October 10th, 2017|Capital Markets, In the News, Multifamily, Office, Press Release|