PLANTATION—Adianez Lugo joined Premier's South Florida office as a project manager who will provide planning, leadership and problem solving skills to our design + build projects. She holds a Master's of Science in Construction Management and a Bachelor of Science in Civil Engineering from Florida International University. She has overseen numerous projects from kickoff to completion.

DEAL TRACKER

TALLAHASSEE, FL—Arrimus Capital acquired the Forum at Tallahassee student housing property from Parkland Development Corp. for an undisclosed price. Led by partners Ray Wirta, Chris Lee and Ryan Gahagan, Arrimus has closed more than $160 million in student housing properties this year. The acquisition is the company's second purchase from Parkland Development of Boca Raton, FL in 2017. Arrimus acquired the Forum at Denton near the University of North Texas in Denton, TX, from Parkland in February.

NAPLES, FL—Tyler Minix, managing director with Miami-based Apartment Realty Services, represented the seller in the sale of Amberton Luxury Townhomes, a two-story, 306-unit townhome complex in Naples. The class A rental community was purchased from Amzak Capital Management for $67 million, equating to $218,954 per unit. “The Naples submarket continues to show strong fundamentals that attract institutional investors,” says Minix. “The concrete block townhome style construction provided an excellent opportunity to acquire a Class A property in a submarket with limited supply.”

GULF BREEZE, FL—HFF brokered the $18.625 million sale of Sea Shell Collections, an 87,125-square-foot, Publix-anchored shopping center in the Pensacola-area community of Gulf Breeze. The HFF team marketed the property on behalf of the seller. Publix purchased the asset free and clear of debt. Anchored by a high-performing Publix, the 90.5-%-leased Sea Shell Collections is also home to Publix Liquor, Super Cuts, RE/MAX on the Coast and well-known local tenants Coastal Paddle Company, Pizzaz Personalized Gifts and more. The HFF investment sales team included senior managing director Brad Peterson, director Whitaker Leonhardt and associate Michael Brewster. “The sale of Sea Shell Collections is yet another example of the strength of the Panhandle retail markets, which continue to thrive,” says Leonhardt. “There is very low unemployment and high barriers to entry, which, combined with the healthy income levels and prominent military presence, create great opportunities for retail real estate investors.”

FORT LAUDERDALE, FL—Cushman & Wakefield negotiated a 193,000-square-foot headquarters lease renewal with Kaplan. Cypress Creek Concourse. Spearheaded by Jeffrey P. Samaras, the Cushman & Wakefield office brokerage team represented Kaplan in securing the long-term renewal. Richard M. Gatto of The Alter Group represented the landlord. Members of the Cushman & Wakefield team also negotiated Kaplan's original lease in 2004.

BUILDING BLOCKS

FORT LAUDERDALE, FL—Ocean Land Investments' proposed Riverwalk Residences of Las Olas has received unanimous approval from members of the Fort Lauderdale City Commission. Located at 333 North New River Drive East, on the Riverwalk on the north side of The New River at Southeast Third Avenue, Riverwalk Residences will offer luxury apartment homes to seniors and assisted-living apartments to residents who need an extra measure of care. The venue will also include several floors dedicated to residents in need of memory care.

Early this week in Florida saw student housing action, as well as several retail and multifamily deals worth noting. And a new commercial real estate project is rising in Fort Lauderdale.

BY THE NUMBERS

Cap rates for all net leased property sectors compressed. Retail stands at 6.11%; office at 6.98%; and industrial: at 7.27%. (Source: The Boulder Group)

NEWS & NOTABLES

PLANTATION—Adianez Lugo joined Premier's South Florida office as a project manager who will provide planning, leadership and problem solving skills to our design + build projects. She holds a Master's of Science in Construction Management and a Bachelor of Science in Civil Engineering from Florida International University. She has overseen numerous projects from kickoff to completion.

DEAL TRACKER

TALLAHASSEE, FL—Arrimus Capital acquired the Forum at Tallahassee student housing property from Parkland Development Corp. for an undisclosed price. Led by partners Ray Wirta, Chris Lee and Ryan Gahagan, Arrimus has closed more than $160 million in student housing properties this year. The acquisition is the company's second purchase from Parkland Development of Boca Raton, FL in 2017. Arrimus acquired the Forum at Denton near the University of North Texas in Denton, TX, from Parkland in February.

NAPLES, FL—Tyler Minix, managing director with Miami-based Apartment Realty Services, represented the seller in the sale of Amberton Luxury Townhomes, a two-story, 306-unit townhome complex in Naples. The class A rental community was purchased from Amzak Capital Management for $67 million, equating to $218,954 per unit. “The Naples submarket continues to show strong fundamentals that attract institutional investors,” says Minix. “The concrete block townhome style construction provided an excellent opportunity to acquire a Class A property in a submarket with limited supply.”

GULF BREEZE, FL—HFF brokered the $18.625 million sale of Sea Shell Collections, an 87,125-square-foot, Publix-anchored shopping center in the Pensacola-area community of Gulf Breeze. The HFF team marketed the property on behalf of the seller. Publix purchased the asset free and clear of debt. Anchored by a high-performing Publix, the 90.5-%-leased Sea Shell Collections is also home to Publix Liquor, Super Cuts, RE/MAX on the Coast and well-known local tenants Coastal Paddle Company, Pizzaz Personalized Gifts and more. The HFF investment sales team included senior managing director Brad Peterson, director Whitaker Leonhardt and associate Michael Brewster. “The sale of Sea Shell Collections is yet another example of the strength of the Panhandle retail markets, which continue to thrive,” says Leonhardt. “There is very low unemployment and high barriers to entry, which, combined with the healthy income levels and prominent military presence, create great opportunities for retail real estate investors.”

FORT LAUDERDALE, FL—Cushman & Wakefield negotiated a 193,000-square-foot headquarters lease renewal with Kaplan. Cypress Creek Concourse. Spearheaded by Jeffrey P. Samaras, the Cushman & Wakefield office brokerage team represented Kaplan in securing the long-term renewal. Richard M. Gatto of The Alter Group represented the landlord. Members of the Cushman & Wakefield team also negotiated Kaplan's original lease in 2004.

BUILDING BLOCKS

FORT LAUDERDALE, FL—Ocean Land Investments' proposed Riverwalk Residences of Las Olas has received unanimous approval from members of the Fort Lauderdale City Commission. Located at 333 North New River Drive East, on the Riverwalk on the north side of The New River at Southeast Third Avenue, Riverwalk Residences will offer luxury apartment homes to seniors and assisted-living apartments to residents who need an extra measure of care. The venue will also include several floors dedicated to residents in need of memory care.