Orlando

Investments in Orange, Seminole, Lake, Osceola and Volusia counties will be given first priority; though other investments across Florida could also be considered.

The groundbreaking ceremony followed last month's announcement that National Realty Investment Advisors and U.S. Construction closed on a $73-million loan from CIM to begin construction on their Ocean Delray development.

With the sale-leaseback agreement, Transformco, the parent company of Kmart and Sears, continues to occupy the property to operate its main distribution center for the entire Southeast US that support Sears, Kmart, and Hometown stores.

Avanath Capital Management purchased Brooke Commons, a 288-unit mixed income community in Orlando, for $46.5 million. The firm also purchased Alexandria Station Apartments, a 290-unit affordable apartment community, for $52.675 million.

Halstatt Real Estate Partners of Naples, FL is working with Development Ventures Group and InTown Group to build the 23-story tower, which will include 188-units for a total of 537 beds.

The team, led by David Beshears, brings a 25-year track record and will focus on a wide variety of property types, primarily in Florida and the Southeast.

The property at 8595 Beach Blvd. is anchored by Rowe's IGA Supermarket, Planet Fitness and the Armed Forces Career Center. Built in 1991, the property is 94% occupied and will be rebranded by the new ownership as Gates of The Promenade Shopping Center.

The Class AA luxury project on Harbour Island was completed in 2017 and was sold to Olympus Property of Fort Worth.