Carlisle celebrates new apartments

Wednesday, March 3rd, 2010

FORT LAUDERDALE - Co-developers Carlisle Development Group and the Housing Authority of the city of Fort Lauderdale hosted a groundbreaking ceremony for Northwest Gardens I (660 NW 10th Ave., Fort Lauderdale) and a grand opening ceremony for Dixie Court Apartments III (325 W. Dixie Court, Fort Lauderdale), two new affordable housing developments for low-income families. Northwest Gardens I will include 143 units, and Dixie Court Apartments III includes 100 units.

LXR completes One Thousand Ocean

Tuesday, March 2nd, 2010

BOCA RATON - One Thousand Ocean, the newly constructed condominium on the tip of a private peninsula in Boca Raton, celebrated its official opening in mid-February with a ribbon-cutting ceremony. One Thousand Ocean is a seven-story, contemporary building featuring 52 residences averaging approximately 4,000sf of interior space, plus 1,200sf of outdoor space. Prices are from $3 million to more than $15 million.

ARA closes 199-unit bulk condo sale

Thursday, February 25th, 2010

PALM HARBOR - Apartment Realty Advisors arranged the sale of the 199 remaining units at Madison Oaks in Palm Harbor. The transaction was arranged by ARA Florida’s Tampa-based Patrick Dufour and ARA Florida’s Orlando-based Kevin Judd.

Dufour, Judd and ARA Boca Raton-based principal Avery Klann represented the seller, a financial institution. Judd, Dufour and Klann are members of ARA’s National Distressed Assets Solutions Group.

Jamestown buys Vista View Apartments

Wednesday, January 6th, 2010

SUNNY ISLES BEACH - Jamestown, a real estate investment and development firm based in Atlanta, has purchased the 308-unit Vista View Apartments for $31.25 million, continuing its program of actively pursuing distressed residential and hotel opportunities that advance the firm’s strategic focus.

HFF closes $31M Beach Place sale

Wednesday, January 6th, 2010

MIAMI - Holliday Fenoglio Fowler LP closed the sale of the Beach Place Apartments, a 308-unit multihousing complex in Sunny Isles.

The HFF team of Director George Vail, Associate Director Jaret Turkell and real estate analyst Scott Wadler served as the exclusive sale advisor to owner of the property, Sky Development. The buyer of the property was a fund operated by Jamestown Properties, a real estate investment firm funded by German investors with its U.S. headquarters in Atlanta. The sale price was $31.25 million or approximately $101,000 per door.

ARA marks sale of Lakes of Margate

Tuesday, December 29th, 2009

MARGATE - Apartment Realty Advisors announced the sale of The Lakes of Margate, a 280-unit multifamily community at 5750 Lakeside Drive in Margate.

ARA Florida principal Avery Klann, Senior Vice President Hampton Beebe and principal Richard Donnellan represented an institutional investor in the sale of the fully stabilized project, which was 95% occupied at the time of the sale.

The Lakes of Margate, built in 1986-1987, features extensive landscaping, two swimming pools with cabanas, heated spa, tennis court, clubroom, fitness center and a fishing dock.

M&M marks $3M sale of The Mediterranean

Tuesday, December 15th, 2009

HOLLYWOOD - Marcus & Millichap Real Estate Investment Services announced the sale of The Mediterranean at Young Circle, a five-story, 24-unit apartment property in Hollywood.

The asset commanded a sales price of $3,100,000 representing $129,167 per unit.

NAI Rauch closes $1.3M apartment sale

Friday, December 11th, 2009

MARGATE - Niv Y. Habari of NAI Rauch Weaver Norfleet Kurtz & Company represented the seller, Margate Investments Inc., in the recent sale of Sunset Apartments at 6000 NW 7th St., Margate. The 24-unit low rise garden style apartments sold for $1.3 million. The buyer, American Nationwide Homes LLC, was represented by Wiz Realty Inc.

Dizengoff closes on 115 condo units

Friday, December 11th, 2009

BOCA RATON - The Dizengoff-Trading Group, an Israeli-based trading and real estate development company, has completed the acquisition of 115 units at the Condominiums at Courtney Park. The units, at 5080 Lantana Road in Lake Worth, were purchased for $6.86 million, or $59,652 per unit.

The completion of this deal gives Dizengoff control of 60% of the 192 units at the complex. At its peak, the developers of Courtney Park were selling units for an average of $254 psf. Dizengoff negotiated a sales price for $69 psf, representing a 73% discount to the average sales price.

Homewood Suites opens new hotel

Friday, December 11th, 2009

PORT ST. LUCIE - Homewood Suites by Hilton announced the opening of its newest property in Port St. Lucie. The five-story, 111-suite hotel is owned by BBL Equinox @ Tradition LLC and is managed by BBL Hospitality.

Located at 10301 SW Innovation Way, the hotel is situated near I-95, near the heart of the Florida Center for Innovation (FCI) at Tradition and close to the other science clusters in Jupiter and Orlando.