FORT LAUDERDALE, FL—Avi Baecht joined Morris Southeast Group as vice president and office leasing specialist. In her new position, Baecht represents property owners market available office space and negotiate leases with prospective tenants. Baecht works with tenants in the marketplace to identify potential office space for lease and represents them in negotiating terms of occupancy. Previously, she worked with an office agency leasing team at CBRE representing a portfolio of approximately 2.5 million square feet of office space in Broward County, including Sawgrass Technology Park, 1 East Broward in Fort Lauderdale, and Weston Corporate Center I & II.

DEAL TRACKER

WEST MELBOURNE, FL—KeyBank Real Estate Capital provided a $34.6 million Fannie Mae, first mortgage loan for The Haven at West Melbourne. The 336-unit, class A garden-style property was built in 2010. Chris Black and Caleb Marten of Key's National Multifamily Accounts Group arranged the financing with a 10-year term, five-year interest only period and 30-year amortization schedule. Proceeds of the loan were used to facilitate the acquisition of the property.

OPA-LOCKA, FL—Marcus & Millichap brokered the sale of North Park Apartments, a 64-unit apartment property located in Opa-Locka. The asset sold for $3.35 million. Evan P. Kristol, senior managing director Investments, and Felipe J. Echarte, first vice president Investments, both located in Marcus & Millichap's Fort Lauderdale office, represented the seller, a limited liability company. “The buyers are an investment group from Venezuela who has a business plan to improve the quality of the property through capital improvements as well as improving cash flow by increasing rental rates and decreasing expenses,” says Echarte.

MIAMI—Floor Investments, in partnership with Tricera Capital, has purchased 2.2 acres at 5700 Biscayne Boulevard in Miami's sought-after Upper East Side. The partnership acquired the site for $19.5 million and plans to build a mixed-use project with multifamily and retail components. Tricera Capital, co-founded by Scott Sherman and Ben Mandell, will spearhead the project's retail element, with details to be announced at a later date. “The Upper East Side is one of Miami's most sought after up-and-coming neighborhoods…,” says 13th Floor Investments managing principal Arnaud Karsenti. “The site's centralized location, coupled with its heightened level of appeal, gives us confidence that it will remain ripe for development and future growth.”

VENICE, FL—Marcus & Millichap brokered the sale of Denny's, a 5,031-square foot net leased property located in Venice. The asset sold for $1.35 million. Marc E. Strauss, senior vice president Investments, in Marcus & Millichap's Fort Lauderdale office, represented the seller, a limited liability company. Denny's is located at 1763 Tamiami Trail South. The property is a 5,031-square-foot building on a 0.75-acre parcel. The location is dense with retail and surrounding residential neighborhoods.

BUILDING BLOCKS

AVENTURA, FL—The developers of Privé at Island Estates have officially filed to register the project with the New York Attorney General to market and sell the new residential development to demographic of New York City residents interested in purchasing luxury condominium homes in the greater Miami region. Privé at Island Estates is scheduled for completion with move-in dates starting this summer. Now that the towers are near completion and American buyers can see their potential home, traffic from US buyers is increasing. Privé at Island Estates offers five-star resort-style amenities with 70,000 square feet of public space.

Early this week in Florida, the commercial real estate market saw diversity in commercial real estate deal making. Central Florida and South Florida made the most headlines.

BY THE NUMBERS

The trend of hospitals acquiring physician groups appears to be slowing. Physicians who choose to remain independent are partnering with other like-minded groups or working under larger management umbrellas. (Source: Cushman & Wakefield)

NEWS & NOTABLES

FORT LAUDERDALE, FL—Avi Baecht joined Morris Southeast Group as vice president and office leasing specialist. In her new position, Baecht represents property owners market available office space and negotiate leases with prospective tenants. Baecht works with tenants in the marketplace to identify potential office space for lease and represents them in negotiating terms of occupancy. Previously, she worked with an office agency leasing team at CBRE representing a portfolio of approximately 2.5 million square feet of office space in Broward County, including Sawgrass Technology Park, 1 East Broward in Fort Lauderdale, and Weston Corporate Center I & II.

DEAL TRACKER

WEST MELBOURNE, FL—KeyBank Real Estate Capital provided a $34.6 million Fannie Mae, first mortgage loan for The Haven at West Melbourne. The 336-unit, class A garden-style property was built in 2010. Chris Black and Caleb Marten of Key's National Multifamily Accounts Group arranged the financing with a 10-year term, five-year interest only period and 30-year amortization schedule. Proceeds of the loan were used to facilitate the acquisition of the property.

OPA-LOCKA, FL—Marcus & Millichap brokered the sale of North Park Apartments, a 64-unit apartment property located in Opa-Locka. The asset sold for $3.35 million. Evan P. Kristol, senior managing director Investments, and Felipe J. Echarte, first vice president Investments, both located in Marcus & Millichap's Fort Lauderdale office, represented the seller, a limited liability company. “The buyers are an investment group from Venezuela who has a business plan to improve the quality of the property through capital improvements as well as improving cash flow by increasing rental rates and decreasing expenses,” says Echarte.

MIAMI—Floor Investments, in partnership with Tricera Capital, has purchased 2.2 acres at 5700 Biscayne Boulevard in Miami's sought-after Upper East Side. The partnership acquired the site for $19.5 million and plans to build a mixed-use project with multifamily and retail components. Tricera Capital, co-founded by Scott Sherman and Ben Mandell, will spearhead the project's retail element, with details to be announced at a later date. “The Upper East Side is one of Miami's most sought after up-and-coming neighborhoods…,” says 13th Floor Investments managing principal Arnaud Karsenti. “The site's centralized location, coupled with its heightened level of appeal, gives us confidence that it will remain ripe for development and future growth.”

VENICE, FL—Marcus & Millichap brokered the sale of Denny's, a 5,031-square foot net leased property located in Venice. The asset sold for $1.35 million. Marc E. Strauss, senior vice president Investments, in Marcus & Millichap's Fort Lauderdale office, represented the seller, a limited liability company. Denny's is located at 1763 Tamiami Trail South. The property is a 5,031-square-foot building on a 0.75-acre parcel. The location is dense with retail and surrounding residential neighborhoods.

BUILDING BLOCKS

AVENTURA, FL—The developers of Privé at Island Estates have officially filed to register the project with the New York Attorney General to market and sell the new residential development to demographic of New York City residents interested in purchasing luxury condominium homes in the greater Miami region. Privé at Island Estates is scheduled for completion with move-in dates starting this summer. Now that the towers are near completion and American buyers can see their potential home, traffic from US buyers is increasing. Privé at Island Estates offers five-star resort-style amenities with 70,000 square feet of public space.