Multifamily

Cushman & Wakefield Lists Downtown Fort Lauderdale’s The Queue Apartments

The South Florida Multifamily Team of Robert Given, Troy Ballard, Zachary Sackley and James Quinn Were Selected to Market the 191-Unit Boutique Urban Core Asset by Urban Street Development and Fazio Properties FORT LAUDERDALE, FL,  — Cushman & Wakefield announced today that it has been named exclusive advisor for the disposition 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 were selected to market the asset by its owners, Urban Street Development and Fazio Properties. 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 with an average market rent of $1,930 ($2.39 per square foot). The asset was completed earlier this year [...]

2018-04-23T18:43:09+00:00 October 6th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Capital Markets Veterans Elorza and Capas Rejoin Cushman & Wakefield

Senior Directors Luis Elorza and Brad Capas Take Leadership Roles at Cushman & Wakefield to Focus on Expanding the Firm’s Multifamily Presence on the West Coast of Florida MIAMI, FL — Cushman & Wakefield announced today that Senior Directors Luis Elorza and Brad Capas have rejoined the firm as members of the firm’s rapidly expanding Florida multifamily brokerage team led by Vice Chairman Robert Given. In their new roles, the duo has assumed responsibility for expanding Cushman & Wakefield’s apartment brokerage presence along Florida’s West Coast, extending from Greater Tampa through Naples. Cushman & Wakefield’s Florida Capital Markets team, led by Given, now includes Elorza and Capas leading West Florida; Jay Ballard and Ken Delvillar leading Central Florida; Zachary Sackley, Calum Weaver, Troy Ballard, Neal Victor and Errol Blumer leading South Florida; and Robert Kaplan, Christopher Lentz and Mark Rutherford handling debt, equity and structured finance. “We are thrilled to have Luis and Brad lead our Greater Tampa and West Coast multifamily efforts for Cushman & Wakefield,” said Larry [...]

2018-04-23T18:43:11+00:00 August 11th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $8.2M Sale of Caribbean Isle Villas

The South Florida Multifamily Team of Calum Weaver, Robert Given, Troy Ballard, Zachary Sackley and Perry Synanidis Secured the Sale of a 78-unit Fractured Condominium Property MIAMI, FL — Cushman & Wakefield announced today that it has negotiated the sale of 78 out of 252 units within Caribbean Isle Villas, a residential condominium asset located at 2700 Pacific Boulevard NE in Homestead, FL. Cushman & Wakefield’s South Florida Multifamily Team of Calum Weaver, Robert Given, Troy Ballard, Zachary Sackley and Perry Synanidis negotiated the disposition on behalf of BC Caribbean, LLC. The asset was acquired by AQRE Caribbean, LLC for $8.2 million ($96 per square foot). Caribbean Isle Villas was built in 2007 and is located in the eastern Homestead area, just south of Homestead Hospital. The unit mix includes 52 two-bedroom and 26 three-bedroom units. Interior finishes include granite countertops, light wood cabinetry, white appliances, in-unit washer/dryer and tile flooring. Community amenities include a large resort-style swimming pool, 24-hour manned gated security, a community clubhouse, [...]

2018-04-23T18:43:12+00:00 July 14th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $27M Sale of Miami International Logistics Center

Cushman & Wakefield Represented Keating Resources in the Disposition of the ±506,000-Square-Foot Warehouse and Distribution Facility and Prime Redevelopment Opportunity MIAMI, FL — Cushman & Wakefield announced today that it has negotiated the sale of Miami International Logistics Center, a ±506,000-square-foot warehouse and distribution facility and prime infill redevelopment opportunity in Hialeah, FL. Executive Managing Director Mike Davis, Executive Director Rick Brugge and Executive Director Michael Lerner, in conjunction with the South Florida Industrial Brokerage Team of Executive Director Wayne Ramoski and Director Gian Rodriguez and the Florida Multifamily Brokerage Team of Vice Chairman Robert Given and Senior Managing Director Troy Ballard, represented Keating Resources in the disposition. Dallas-based Lincoln Property Company acquired the asset for $27.38 million. Miami International Logistics Center is a 506,300-square-foot distribution and warehouse facility developed in 1960 on a ±20.6-acre site at 725 Southeast 9th Court. The building was 88 percent leased at the time of sale. The site is ideally located in the heart of Central Miami, one-half mile northeast of Miami International [...]

Cushman & Wakefield Negotiates $50M Sale of Cottage Cove Apartments

The South Florida Multifamily Team of Robert Given, Calum Weaver, Troy Ballard and Zachary Sackley Secured the Sale of the 468-Unit Property MIAMI, FL — Cushman & Wakefield announced today that it has negotiated the sale of Cottage Cove, a 468-unit residential asset located at 10 NE 188th Street. Cushman & Wakefield’s South Florida Multifamily Team of Vice Chairman Robert Given, Executive Vice President Calum Weaver, Senior Managing Director Troy Ballard, Executive Managing Director Zachary Sackley and Senior Financial Analyst Perry Synanidis negotiated the disposition on behalf of TM Real Estate Group, LLC. The asset was acquired by Marlin Spring Realty Limited for $50 million ($151 per square foot). Cottage Cove consists of 468 units in 100 buildings. The first phase of the property featured 94 quadplexes. The second phase included six two- and three-story buildings. The unit mix includes studios, one- and two-bedroom units. Non-renovated interior finishes include Formica countertops, white wood cabinetry, white appliances, and carpet flooring. Select units have [...]

2018-04-23T18:43:13+00:00 June 16th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $61M Sale of Soleste Club Prado Apartments

The Multifamily Team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor Secured the Sale of the 196-Unit Luxury Midrise Building MIAMI, June 8, 2017 — Cushman & Wakefield announced today that it has negotiated the sale of Soleste Club Prado, a new luxury midrise building located at the northwest edge of Coral Gables. Cushman & Wakefield’s South Florida Multifamily Team of Robert Given, Zachary Sackley, Troy Ballard and Neal Victor negotiated the disposition on behalf of a joint venture of the Florida-based Estate Investment Group, Mattoni Group and Fortune Capital Partners. The asset was acquired by Grand Peaks for $61 million ($361 per square foot). Soleste Club Prado is an eight-story, 196-unit multifamily tower developed on a 1.8-acre site at 950 Red Road, West Miami. The average unit in the 168,872-square-foot building is 862 square feet with a market rent of $2,167, or $2.52 per square foot. The first residents took occupancy in June 2016 and the building was 95 percent leased at the [...]

2018-04-23T18:43:13+00:00 June 8th, 2017|In the News, Multifamily, Press Release|

South Florida Multifamily Market Continues on Record-Setting Pace

Cushman & Wakefield Released its 1Q 2017 South Florida Multifamily Market Update, Documenting $3.6 Billion in 2016 Sales and a Strong Start to 2017 MIAMI, FL — Cushman & Wakefield announced today that it has released its 1Q 2017 South Florida Multifamily Market Update. The in-depth report, authored by Executive Vice President Calum Weaver of Cushman & Wakefield’s South Florida Institutional 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 driven by strong fundamentals. Important highlights of the report can be found below: There were 278 property sales in South Florida valued at more than $3.6 billion in 2016. This eclipses the annual record of $3.3 billion in sales established in 2015. South Florida rental demand continues to increase due to population growth, an inventory shortage and the rising costs of [...]

2018-04-23T18:43:14+00:00 May 11th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Robert Given’s Multifamily Team Negotiates Land Sale in Fort Lauderdale CBD

Robert Given, Zachary Sackley Negotiated the Sale of Stiles Corporation’s ±1.92-Acre Core Site to Developer Greystar Rendering of 790 E. Broward Blvd. in Fort Lauderdale FORT LAUDERDALE, FLORIDA — The South Florida Multifamily Team led by Cushman & Wakefield Vice Chairman Robert Given, formerly with CBRE, Inc., announced today that it has negotiated the sale of 790 East Broward Boulevard, a ±1.92-acre multifamily site in Fort Lauderdale’s central business district. Given, along with Executive Managing Director Zachary Sackley, represented a partnership affiliated with Fort Lauderdale-based Stiles Corporation in the disposition. Greystar GP II, LLC, a partnership affiliated with Charleston, SC-based Greystar, acquired the land. 790 East Broward Boulevard comprises three separate parcels. It includes a 25,925-square-foot office building, parking lot and a five-lane, drive-through teller. 790 East Broward Boulevard is located near the center of Fort Lauderdale’s burgeoning CBD at the southwest corner of Broward Boulevard and SE 8th Avenue. The site offers exceptional access to Interstate 95 [...]

2018-04-23T18:43:14+00:00 May 5th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Cushman & Wakefield Negotiates $158.5M Sale of Montage at City Center

The South Florida Multifamily Team Represented AVR Realty in its Sale of Prime Multifamily Development PEMBROKE PINES, FLORIDA — Cushman & Wakefield announced today that it has negotiated the sale of the Montage at City Center, a 700-unit mid-rise and townhome residential asset located at 10170 SW 7th Street in Pembroke Pines, FL. Vice Chairman Robert Given and Executive Managing Director Zachary Sackley of Cushman & Wakefield’s South Florida Multifamily Team, along with Senior Managing Director Troy Ballard, Financial Associate Neal Victor and Financial Analyst Aaron Mandel represented AVR Realty Company in the disposition. An affiliate of Harbor Group International, LLC acquired the asset for $158.5 million. Montage at City Center consists of 700 units in 12 mid-rise and 28 townhome buildings. The community offers a mix of one-, two- and three-bedroom units. Montage at City Center was built in two phases. Phase One (422 units) was completed in 2014. Phase Two (278 units) was completed in 2015. Units at Montage at City Center feature formica countertops, espresso [...]

2018-04-23T18:43:15+00:00 April 26th, 2017|Capital Markets, In the News, Multifamily, Press Release|

Errol Blumer Joins Cushman & Wakefield’s South Florida Multifamily Team

The South Florida Multifamily Team is a 15-Member Group with More Than 130 Years of Experience and Over $20 Billion in Sales FORT LAUDERDALE, FLORIDA — Cushman & Wakefield announced today that Errol Blumer has been hired as an Associate on the South Florida Multifamily Team. Blumer will join the Fort Lauderdale-based team led by Vice Chairman Robert Given. This team focuses exclusively on the needs of institutional and private owners of multifamily properties, land development, and structured equity and debt finance throughout South Florida. The South Florida Multifamily Team comprises 15 seasoned professionals with over 130 years of combined real estate and investment sales experience and over $20 billion in multifamily production. Blumer will assist with business development, client management and the creation of research and marketing collateral. Before joining Cushman & Wakefield, Blumer served at Avison Young, where he contributed in more than $650 million in capital markets, debt and equity transactions [...]

2018-04-23T18:43:15+00:00 April 26th, 2017|Capital Markets, In the News, Multifamily, Press Release|