Saturday, September 18, 2010

Emerson International leases 20,000 square feet of office space at Sanlando Center in Longwood, FL

ALTAMONTE SPRINGS, Fla. – Emerson International recently negotiated a three-year lease agreement for the expansion of PRC, an Alorica Company for 20,000 square feet of Class A office space at 2180 Sanlando at Sanlando Office Park (top left photo) in Longwood. 

Eric Emerson, general manager and vice president of Emerson International, said Sean Westcott, director of leasing, negotiated the lease for the landlord. 

Samuel J. Pruitt Site Selection Group, LLC and Jason Schrago of CNL Realty represented the tenant.

“We are pleased to have PRC expand and renew such a large amount of space within this property,” said Emerson.

For more information,  contact
Eric J. Emerson, Vice President and General Manager Emerson International, Inc. 407-834-9560;;
Sean T. Westcott, Director of Leasing Emerson International, Inc. 407-834-9560;
Kenneth Koch, Commercial Portfolio Manager, Emerson International, Inc. 407-834-9560;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142

NAI Realvest negotiates New Long-term lease at Maitland Court

ORLANDO, Fla. – NAI Realvest recently negotiated a new 49-month lease agreement at Maitland Court, (top left photo) 1015 Maitland Center Commons Blvd.

Michael Heidrich, a principal at NAI Realvest, brokered the transaction representing both the tenant, The Ragan Law Firm, P.A. and 1015 Maitland Center Commons LLC, the landlord at the class A office building.

For more information, contact:
Michael Heidrich, Principal, NAI Realvest, 407-875-9989
Patrick Mahoney, President, NAI Realvest 407-875-9989
Beth Payan or Larry Vershel Communications, 407-644-4142     

Sale of Amelia Island Plantation, Florida, Complete

TAMPA, FLTRT Holdings/Omni Hotels completed its purchase of  Amelia Island Plantation (top left photo) Sept. 17. 
 Following an August 23 standing-room only bankruptcy auction in which Starwood Capital and Noble Investment Group also vied for the storied north Florida beach resort, TRT emerged as the successful bidder at $67.1 million ($269,478 per room). 

Amelia Island Plantation, located just 29 miles north of Jacksonville International Airport (middle right photo), is a 1,350-acre property that overlooks the Atlantic Ocean on the east and the Intracoastal Waterway on the west. 

The 249-room resort features 54 holes of championship golf, a tennis center, spa, and 50,000 square feet of meeting space.

 “The bankruptcy sale of the Plantation has been a long and arduous journey for its residents, employees, creditors and vendors. 

The final outcome in this transaction, however, has been a very positive one -- a rarity in this economic environment,” commented Lou Plasencia (lower left photo), CEO of The Plasencia Group.
“With TRT and Omni as the new owner/operator, the future is now very secure for all involved.  The fact that secured creditors were made whole is also very satisfying and affirms the thoroughness of the process we conducted.”

Amelia Island Company retained The Plasencia Group to maximize the value of the company’s assets for all stakeholders by conducting an auction pursuant to section 363 of Chapter 11 of the U.S. Bankruptcy Code.  

 In all, the firm generated over 90 bona fide inquiries and conducted nearly 30 formal property inspections by pre-qualified investors.

Media Contact: Karen Brand,, (203) 202-4549

Marcus & Millichap Capital Corp. Arranges $6.7M Refinancing Loan

             PORTLAND, Ore., Sept. 17, 2010 – Marcus & Millichap Capital Corporation (MMCC) has arranged a $6.7 million refinancing loan for Standard Dairy, a mixed-use residential property in Portland.
Steven Wiltshire (top right photo), an associate director in the firm’s Portland office, arranged the loan.
“The loan is HUD-insured and the property has eclectic-style multiple tax lots that are cross-collateralized,” says Wiltshire. “Our thorough understanding of lender and agency requirements enabled us to provide the necessary information and present the best possible structures for the transaction to both lender and client.”
The $6,728,000 loan is for 35 years with a 35-year amortization. The interest rate is fixed at 4.25 percent and the loan to value is 85 percent.
The property has 85 units, 11 of which are commercial.
Contact: Stacey Corso
Public Relations Manager
(925) 953-1716

Marcus & Millichap Lists 196-Unit Student Housing Community in Tampa

 TAMPA, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has retained the exclusive listing for Sterling 42nd Street, (top left photo) a 196-unit, 722-bed student housing community in Tampa.
            Dorothy Jackman, (middle right photo)  a vice president investments, and Travis Prince (middle left photo) , a senior associate, both in the firm’s Tampa office, and Peter Katz (bottom right photo), a senior vice president investments in Phoenix, are representing the seller, the nation’s largest student housing developer, based in Houston.
            “Sterling 42nd Street is a newly constructed, by-the-bed Class ‘A’ student housing community catering to the University of South Florida (USF),” says Jackman. “The property is over 98 percent occupied for the 2010-2011 school year.”
“Future demand is strong as USF continues to grow its enrollment,” adds Prince. “The Tampa campus received more than 40,000 students this fall and the first-year class grew 7 percent over 2009.”
            The 248,781-square foot property is located a few blocks from the USF campus at 4050 Rocky Circle with the USF shuttle system, Bull Runner, stopping at the community’s entrance.
            Katz says, “Core, infill urban student housing properties that are in significant MSAs have are greater demand by the investment community as allocated capital seeks a home in the second half of the year.”

Built in 2009, Sterling 42nd Street consists of 47 three-bedroom/three-bath units at 1,114 square feet, 15 three-bedroom/three-bath units at 1,151 square feet and 134 four-bedroom/four-bath units at 1,337 square feet, all leased by the bed.
 Each apartment includes a private bath for every bedroom and is fully furnished. All units have a plasma TV and ceiling fan in every bedroom, contemporary kitchens with black appliances and a full-size washer/dryer. Select units boast high-end urban finishes such as wood flooring and exposed ductwork.

  Community amenities include two resort-style swimming pool plazas, tanning dome, business center, state-of-the-art athletic center, cyber café with coffee bar and elevators. All of the buildings have secured monitored entrances.
            The USF system serves more than 47,000 students in the Tampa Bay Area and is the ninth-largest university in the nation.
Contact: Stacey Corso
Public Relations Manager
(925) 953-1716

Sonoma Gardens in Sherman Oaks, CA Commands $9.4M in Transaction Arranged by Marcus & Millichap

 SHERMAN OAKS, Calif., September 17, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Sonoma Gardens, (top left photo)  a 74-unit apartment building located in Sherman Oaks. The asset commanded a sales price of $9.4 million.

  Danny Abergel, an associate director in the Encino office of Marcus & Millichap Capital Corporation (MMCC), arranged acquisition financing for this transaction.Sonoma Gardens is located at 14355 Huston St. in Sherman Oaks, which is located in the San Fernando Valley.

Contact: Stacey Corso
Public Relations Manager
(925) 953-1716