BOCA RATON, FL—Dominic Delgado joined Cushman & Wakefield as senior director and will work to expand the firm's retail presence in Palm Beach and Broward Counties. Prior to joining CushWake, Delgado was the executive vice president at LDR Partners, a full-service Florida-based real estate firm, where he represented a mix of regional and national developers, REITS and private equity funds. Before joining LDR Partners, Delgado directed new business development and ran regional disposition programs for several national companies' excess space and assets at SRS Real Estate Partners.

DEAL TRACKER

PALMETTO, FL—Marcus & Millichap brokered the sale of Bayside Villas, a 44-unit apartment property located in Palmetto. The multifamily asset sold for $2.675 million. Casey Babb and Luis Baez, investment specialists in the firm's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in South Florida. The duo also secured the buyer, a private investor based in Tampa.

PALM BAY, FL—Greystone provided a $17.25 million bridge loan to finance the acquisition of The Pavilions at Monterey in Palm Bay. The transaction was originated by Leor Dimant of Greystone's New York office. Carabetta Companies, one of the largest HUD borrowers, purchased The Pavilions at Monterey for $29.65 million. The two-year bridge loan from Greystone, at 83.5% loan-to-purchase, provides time for Carabetta to rehabilitate and stabilize the property while concurrently securing a low, fixed-rate, permanent loan from HUD with Greystone. The Pavilions at Monterey is a 271-unit class B property located on the southeast coast of Florida near the Florida Institute of Technology.

BOCA RATON, FL—NAI Miami's Jeremy Larkin and Joseph Gallaher recently negotiated a five-year, 1,725 square foot retail lease for North Atlantic Investment Corporation located at Camino Real Shopping Center, 1001 Southwest Second Avenue in Boca Raton. The tenant is Field Clinic of Chiropractic, P.A. and was represented by Katz & Associates.

BRADENTON, FL—Marcus & Millichap announced the sale of Palmview Court, an eight-unit apartment property located in Bradenton. The asset sold for $625,000. Michael Donaldson, Nicholas Meoli and Adam Podbelski, investment specialists in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by the trio. Palmview Court is located at 2519 9th Avenue West.

BUILDING BLOCKS

MIAMI—Carrfour Supportive Housing is bringing housing for hundreds of struggling veterans in Miami-Dade County thanks to support from a new $400,000 grant from The Home Depot Foundation's Veteran Housing Grants Program. Funds from the grant are being used to help fund construction of Liberty Village, the organization's latest housing community in Miami's Liberty City neighborhood, where 80% of the development's units will be designated for homeless veterans suffering from disabilities. Construction of Liberty Village is currently underway and is expected to be completed in late 2017.

Early this week in Florida saw secondary and tertiary commercial real estate markets making headlines. Meanwhile, a significant affordable housing project is rising in Liberty City.

BY THE NUMBERS

Orlando office deliveries will rise from the 433,000 square feet completed in 2016. Approximately half of this year's completions will be medical office space. (Source: Marcus & Millichap)

NEWS & NOTABLES

BOCA RATON, FL—Dominic Delgado joined Cushman & Wakefield as senior director and will work to expand the firm's retail presence in Palm Beach and Broward Counties. Prior to joining CushWake, Delgado was the executive vice president at LDR Partners, a full-service Florida-based real estate firm, where he represented a mix of regional and national developers, REITS and private equity funds. Before joining LDR Partners, Delgado directed new business development and ran regional disposition programs for several national companies' excess space and assets at SRS Real Estate Partners.

DEAL TRACKER

PALMETTO, FL—Marcus & Millichap brokered the sale of Bayside Villas, a 44-unit apartment property located in Palmetto. The multifamily asset sold for $2.675 million. Casey Babb and Luis Baez, investment specialists in the firm's Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in South Florida. The duo also secured the buyer, a private investor based in Tampa.

PALM BAY, FL—Greystone provided a $17.25 million bridge loan to finance the acquisition of The Pavilions at Monterey in Palm Bay. The transaction was originated by Leor Dimant of Greystone's New York office. Carabetta Companies, one of the largest HUD borrowers, purchased The Pavilions at Monterey for $29.65 million. The two-year bridge loan from Greystone, at 83.5% loan-to-purchase, provides time for Carabetta to rehabilitate and stabilize the property while concurrently securing a low, fixed-rate, permanent loan from HUD with Greystone. The Pavilions at Monterey is a 271-unit class B property located on the southeast coast of Florida near the Florida Institute of Technology.

BOCA RATON, FL—NAI Miami's Jeremy Larkin and Joseph Gallaher recently negotiated a five-year, 1,725 square foot retail lease for North Atlantic Investment Corporation located at Camino Real Shopping Center, 1001 Southwest Second Avenue in Boca Raton. The tenant is Field Clinic of Chiropractic, P.A. and was represented by Katz & Associates.

BRADENTON, FL—Marcus & Millichap announced the sale of Palmview Court, an eight-unit apartment property located in Bradenton. The asset sold for $625,000. Michael Donaldson, Nicholas Meoli and Adam Podbelski, investment specialists in Marcus & Millichap's Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by the trio. Palmview Court is located at 2519 9th Avenue West.

BUILDING BLOCKS

MIAMI—Carrfour Supportive Housing is bringing housing for hundreds of struggling veterans in Miami-Dade County thanks to support from a new $400,000 grant from The Home Depot Foundation's Veteran Housing Grants Program. Funds from the grant are being used to help fund construction of Liberty Village, the organization's latest housing community in Miami's Liberty City neighborhood, where 80% of the development's units will be designated for homeless veterans suffering from disabilities. Construction of Liberty Village is currently underway and is expected to be completed in late 2017.