Orlando

Zom Living of Orlando and the Moinian Group of New York City acquired the project site located one block from Biscayne Boulevard from Miami Worldcenter Associates, the developer of the $4-billion mixed-use project being developed on 27 acres that is now under construction.

Witten has closed more than $12 billion in multifamily sales. Prior to his appointment at Aimco, Witten served the last 20 years with Marcus & Millichap.

According to its best and final offer submitted to JEA, the Ryan Cos. project at 325 West Adams St. will cost approximately $72.2 million to construct. The building will total 207,810 square feet, including a 6,340-square-foot rooftop outdoor patio.

The financing deal was announced by Holliday Fenoglio Fowler, L.P., which arranged a fixed-rate loan for the development of the Home2 Suites Sarasota and a floating-rate loan for the development of the Home2 Suites Largo.

New York City-based ESG Kullen, which is active in the South Florida distressed and value-add multifamily investment markets, secured $33 million from Pembrook Capital Management LLC of New York City in connection with the deal.

The deal, which calculates out to $161,538 per unit marks Aegon RA's first multifamily purchase under its recently formed Workforce Housing Investment program.

Nelson Knight, EVP and chief investment officer of Apple Hospitality, says, “Through these attractively priced transactions, we adjusted our market exposure in ways that we feel will further enhance the strength and stability of our hospitality platform.”

CBRE states that the sale price equated to the third highest sale price per unit secured for a 1960-1979 vintage asset in Hillsborough County.