Cushman & Wakefield Brokers $55M Financing of Luxury, 292-Unit Apartment Community in Fort Lauderdale  

Riverview Peninsula Investments Acquired ORA Flagler Village with a Fixed-Rate Loan from Nuveen FORT LAUDERDALE, FL, September 23, 2019 – Cushman & Wakefield has negotiated the financing in the acquisition of ORA Flagler Village, a newly completed, 292-unit luxury mid-rise apartment community in Fort Lauderdale. The Cushman & Wakefield Equity Debt & Structured Finance Team of Senior Director Chris Lentz and Executive Managing Director Robert Kaplan secured a $55 million, 12-year fixed-rate loan with Nuveen on behalf of the buyer, Riverview Peninsula Investments. Fairfield Residential sold the asset for an undisclosed price. ORA Flagler Village is situated at 673 NE Third St. in Fort Lauderdale’s burgeoning Flagler Village submarket. The six-story property was completed in 2018 and was 95% occupied at the time of sale. It offers 26 distinct floorplans that average 856 square feet and range from functional studios to spacious two-bedroom residences. Amenities include an expansive pool with [...]

2019-09-27T16:18:03-04:00September 23rd, 2019|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Brings Coral Gables Boutique, Luxury Multifamily Asset to Market on Behalf of Greystar

The 120-Unit Apartment Community is Prominently Situated Near the Famed “Miracle Mile” in Downtown Coral Gables MIAMI, September 23, 2019 — Cushman & Wakefield, as exclusive advisor, has been selected to market for sale “The Mile,” a boutique, Class-AA apartment community comprising 120 luxury residences. The property is positioned along the main thoroughfare in downtown Coral Gables, Coral Way, also known as Miracle Mile. Greystar, a leading international owner and manager of multifamily assets, retained Vice Chairman Robert Given, Executive Managing Director Troy Ballard, Executive Managing Director Zachary Sackley, Executive Managing Director Calum Weaver and Senior Financial Analyst James Quinn of Cushman & Wakefield’s Florida Multifamily Team to market the asset to investors. Developed in 2016, The Mile consists of one-, two- and three-bedroom units, averaging 893 square feet. Residences offer condo-quality features and finishes, inlcuding oversized balconies, stainless steel appliances, quartz countertops and floor-to-ceiling windows. All units feature porcelain [...]

2019-10-01T12:40:17-04:00September 23rd, 2019|In the News, Multifamily, Press Release|

Cushman & Wakefield Brings Luxury South Beach Multifamily Portfolio to Market

Portfolio Consists of Six Fully Renovated Properties Totaling 104 Units MIAMI, March 15, 2019 — Cushman & Wakefield, as exclusive marketing agent, has launched the marketing campaign for a portfolio of six luxury multifamily properties comprising 104 units in Miami’s South Beach. Each property has been completely renovated with a total of over $7 million in capital improvements. Executive Managing Director Calum Weaver, Senior Financial Analyst Perry Synanidis, Vice Chairman Robert Given, Executive Managing Director Zachary Sackley and Executive Managing Director Troy Ballard, with Cushman & Wakefield’s Florida Multifamily Investment Sales Team, are marketing the portfolio’s disposition on behalf of the seller. The portfolio is being marketed as Lux South Beach. The six buildings in the portfolio are situated in the heart of South Beach, within walking distance to the world-famous attractions on Lincoln Road, Ocean Drive, Collins Avenue and Washington Avenue. The portfolio is currently 98.1 percent occupied with [...]

Cushman & Wakefield Negotiates $18.25M Sale of Downtown Miami Parking Garage on Behalf of Crocker Partners

Mishorim Investments Acquired the 0.86-Acre Property at 255 NE First St. MIAMI, October 24, 2018 – Cushman & Wakefield has arranged the sale of a seven-story, 756-space parking garage in downtown Miami for $18.25 million to Mishorim Investments. At 255 NE First St., the 257,712-square-foot garage is situated on 0.86 acres and possesses significant redevelopment potential. Robert Given, Errol Blumer, Troy Ballard and Steve Aiken, with Cushman & Wakefield’s South Florida Multifamily Team represented Crocker Partners, a commercial real estate investment firm headquartered in Boca Raton, Florida, in the disposition. The buyer, Mishorim Investments, invests in a variety of commercial asset types in the United States and Israel, and owns several retail/mixed-use properties in Florida, including the ground-floor retail component of Centro Miami. Situated adjacent to the First Street MetroMover Station, the property offers exceptional accessibility throughout downtown Miami and is surrounded by more than 6 million square feet of office space, [...]

2018-11-01T13:43:40-04:00October 24th, 2018|Florida, In the News, Multifamily, Press Release|

Cushman & Wakefield Arranges Sale and Financing of Delray Beach Apartment Community on Behalf of Atlantic Pacific

Aventura, FL-Based Cardone Capital Acquired the 346-Unit Atlantic Delray Apartments DELRAY BEACH, Florida, October 2, 2018 – Cushman & Wakefield has arranged the sale and financing of Atlantic Delray Apartments, a 346-unit, garden-style apartment community in Palm Beach County’s Delray Beach. Vice Chairman Robert Given, Senior Managing Director Troy Ballard, Executive Managing Director Zachary Sackley and Senior Financial Analyst James Quinn, with Cushman & Wakefield’s Florida Multifamily Investment Sales Team, represented Atlantic Pacific in the disposition. Atlantic Pacific is national real estate company specializing in acquisitions, development, property management and investments, with offices in Florida, Georgia, Texas and California. The Seller is a Joint Venture between Atlantic|Pacific Companies and Rockpoint. The buyer is Cardone Capital, an Aventura, Florida-based investment manager that invests in income-producing multifamily properties across the country. Robert Kaplan, Chris Lentz, and Mark Rutherford of Cushman & Wakefield’s Equity, Debt & Structured Finance Group assisted the Cardone Capital in securing [...]

2018-10-09T13:20:34-04:00October 8th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Brings a Progressive Garden Apartment Project to Market in Greater Ft. Lauderdale

The South Florida Multifamily Team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor were selected to market the 394-Unit Elan Maison FT. LAUDERDALE, FL, September 20, 2018 — Cushman & Wakefield has been named exclusive advisor for the disposition of Elan Maison, a 394-unit trophy multifamily community located in Davie, Florida, just west of Fort Lauderdale. The South Florida Multifamily team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor were selected to market the asset, which is being brought to market unpriced. Elan Maison features a mix of three- and four-story buildings with enclosed air-conditioned corridors. The community offers nine distinct floor plans ranging from one-bedroom residences to spacious three-bedroom apartment homes. Select units have direct access garages and there are 48 attached garages and 34 detached garages within the property. Units average 999 square feet with average market rents of $2,043 ($2.04 per square foot). [...]

2018-10-01T16:09:40-04:00October 1st, 2018|In the News, Multifamily, Press Release|

Cushman & Wakefield Report: Record Low Vacancies Highlight Bullish South Florida Multifamily Market​

Calum Weaver Authored Cushman & Wakefield’s 2018 South Florida Multifamily Midyear Market Update​ MIAMI, September 4, 2018— Cushman & Wakefield has released its 2018 South Florida Multifamily Midyear Market Update. 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 record low vacancy rates in a South Florida multifamily market supported by a continuing trend of positive historic market fundamentals. Significant highlights of the report include: Through the first two quarters of 2018, there were 133 multifamily sales in South Florida valued at nearly $2 billion. While year-over-year sales activity slowed for the second year in a row, these values are still the third-highest ever recorded in the first half of any year. As a whole, sales activity in South Florida was split relatively evenly [...]

2018-09-06T16:09:06-04:00September 6th, 2018|Capital Markets, Florida, In the News, Multifamily, Press Release|

Cushman & Wakefield Arranges $59.75M Sale of Miami Apartment Community for Rilea Group

Advenir, Inc. Acquired Vista Verde at Westchester for $197,848 Per Unit MIAMI, August 15, 2018 – Cushman & Wakefield has negotiated the sale of Vista Verde at Westchester, a 302-unit, value-add apartment community, for $59.75 million. The property is adjacent to Florida International University, a public university with an enrollment of over 55,000 students, as well as a Publix-anchored shopping center. Vice Chairman Robert Given, Senior Managing Director Troy Ballard, Executive Managing Director Zachary Sackley and Senior Financial Analyst James Quinn with Cushman & Wakefield’s Florida Multifamily Team represented Rilea Group in the disposition. The Miami-based real estate developer invests in value-add multifamily, office and retail properties throughout South Florida. The buyer is Advenir, Inc., an Aventura, Florida-based real estate investment company that acquires and operates multifamily communities throughout the United States on behalf of high-net worth and institutional investors. Vista Verde was built in 1993. The property traded for [...]

2018-08-17T14:54:58-04:00August 17th, 2018|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates Sale of 69-Unit, Luxury Townhome Community in Hollywood, FL for $23M

Calum Weaver Represented Royal Oaks United, LLC in the Disposition HOLLYWOOD, FL (August 6, 2018) – Cushman & Wakefield has negotiated the sale of Royal Oaks Townhomes in Hollywood, FL, for $22.78 million. The luxury townhome community has 69 units and was 90 percent occupied at the time of sale. Executive Managing Director Calum Weaver, with Cushman and Wakefield’s Florida Multifamily Team, represented the seller, Royal Oaks United, LLC, in the disposition of the property. The buyer is Preston Giuliano Capital Partners, LLC, a private investment firm focused on the acquisition and repositioning of multifamily real estate in South and Central Florida. Royal Oaks Townhomes was completed in 2009. The fully gated community sits on 5.19 acres and features two-story units with three bedrooms, 2.5 bathrooms and 1,695 square feet of living space. Each residence includes a private garage, terraces and balconies and a semi-private back yard. Luxury community amenities [...]

2018-08-08T14:42:33-04:00August 8th, 2018|Capital Markets, In the News, Multifamily, 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 [...]