Eyzenberg & Company has arranged a stretch-senior construction loan to finance the development of Reflections Condominiums, a 17-story condominium tower on Mirror Lake in St. Petersburg, Florida. The New York-headquartered commercial real estate investment banking firm was retained in 2021 as the exclusive financial advisor for the development of the 326,468 SF building.
Read More
The Tampa EDITION Launches Sales Center At Water Street Tampa
The Residences at The Tampa EDITION have recently launched sales for the city’s first five-star hotel-brand inside Water Side Street Tampa. The project was developed by Tampa-based firm Strategic Property Partners. The new sales gallery opening will allow buyers to view residences’ interiors and layouts first-hand for the 37 residences featured in the building.
Read More
American Landmark Acquires 624-Unit Multifamily Portfolio From RADCO For $100.5 Million
American Landmark has acquired the recently renovated Radius Winter Park and Ashford at Feather Sound communities in Casselberry and Clearwater, FL from the Atlanta-based RADCO Companies. The 624-unit portfolio traded for $100.5 million and the transaction was overseen by CBRE.
Read More
Avison Young Oversees Sale Of $70 Million Transformco Distribution Center To Reich Brothers
Avison Young’s Florida Capital Markets Group has overseen the sale and closing of the Transformco Distribution Center, the largest single-building industrial asset in Florida spanning nearly 2 million SF, to Reich Brothers. The transaction closed for $70 million for the 1,937,892-square-foot Transformco Distribution Center, located at 655 SW 52nd Ave. in Ocala.
Read More
Galium Capital Acquires Fountain Square II In Tampa With Joint-Venture Partner Owens Realty Capital For $29.4 Million
Galium Capital, a Miami-based private equity firm and its joint-venture partner, Owens Realty Capital, have acquired Fountain Square II, a curvilinear four-story office building in Tampa for $29.4 million. The joint-venture paid about $220 per square foot for the Fountain Square II office building in the Westshore area of Tampa.
Read More
Sears Lists Several Properties for Sale in Central Florida
Riding on the heels of an announcement last spring to close more than a 100 of its brick-and-mortar locations, Sears is continuing to unwind its real asset holdings. The struggling retailer has retained Avison Young Florida Capital Group in an exclusive to market and sell three department stores and the largest Sears distribution center in the state.
If successful, the sales will provide millions in much-needed cash flow to fund Sears struggling operations. The five properties, located in Daytona Beach, Port Richey, Tampa, and Ocala, total more than 2.35 million square-feet. The largest of the properties is the 1.93 million square-foot distribution center located at 655 Southwest 52nd Avenue in Ocala, and is also the largest industrial building in Florida.
Sale-leaseback deals have been a preferred method of disposition for Sears, which allow the retailer to downsize, but continue its day-to-day operations. It hopes to raise its liquidity and return to profitability.
The Avison Young marketing team includes principal and managing director Michael T. Fay, principals John K. Crotty and David Duckworth, senior vice presidents Jay A. Ziv and Ray Hayhurst, and senior associates Joshua Ladle and Brian de la Fé.
Article by: Katya Demina