NAI Realvest Negotiates New, Renewal and Expansion Leases totaling 9,140 SF of Office Space at University Court in East Orlando

 ORLANDO, FL. --- NAI Realvest recently negotiated three lease agreements totaling 9,140 square feet of office space at University Court located at 3361 Rouse Rd. off University Blvd. in east Orlando.

 Senior Associate Mary Frances West (top right photo), CCIM brokered all three transactions representing the landlord, Interchange Rouse, LLC of Daytona Beach.   

 Orlando-based Cole Engineering Services, Inc., a long-time tenant of University Court, renewed the lease of its current 5,636 square feet and expanded to a total of 6,352 square feet for a three-year term.  .

 Two new tenants at University Court are Vanguard Solutions, Inc. a military contractor that supports Dept. of Defense projects who leased 1,408 square feet on the second floor, and V&N Advanced Automation Systems who leased 1,380 square feet on the first floor.

 For more information,  contact:

Mary Frances West, CCIM, Senior Broker-Associate NAI Realvest, 407-875-9989,  mfwest@realvest.com;

Patrick Mahoney, Chief Operating Officer NAI Realvest, 407-875-9989,  pmahoney@realvest.com

Beth Payan, Larry Vershel Communications, 407-644-4142,  lversehlco@aol.com

HFF closes sale of Class AA multi-housing community in Austin, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has closed the sale of Nalle Woods (top left photo) , a 238-unit, Class AA multi-housing community in Austin, Texas.

The HFF investment sales team was led by senior managing director Bill Miller (middle right photo)  and managing director Roberto Casas (lower left photo)  who represented the seller, Larry Peel & Co. 

 Institutional investors advised by J.P. Morgan Asset Management – Global Real Assets purchased the property for an undisclosed price on an all cash basis. 

Nalle Woods is located at 4700 N. Capital of Texas Highway at the Lake Austin Bridge in Austin. 

Completed in 2004, the property has one- and two-bedroom units that feature condominium-quality finishes including stainless steel appliances, granite countertops and vaulted ceilings. 

 Community amenities include a clubhouse, fitness center, swimming pools with waterfall and water volleyball, business center, billiard room and spa with steam room. 

“Nalle Woods was awarded ‘Austin’s Best Apartment Community’ by the Austin Business Journal and is truly a top-of-the-line apartment community that offers great views of Lake Austin and the Texas Hill Country,” said Miller. 

“Both parties, Larry Peel & Co. and J.P. Morgan, did a great job moving towards a closing in less than 35 days.”

“Bill Miller and Roberto Casas allowed for a professional and smooth experience.  We truly enjoyed working with JP Morgan and HFF on the sale,” added Janaelle Braun of Larry Peel & Co. 

Contacts:                     

William D. Miller, HFF Senior Managing Director, (214) 265-0880,

bmiller@hfflp.com  

                                                                       

Roberto E. Casas, HFF Managing Director, (214) 265-0880,

rcasas@hfflp.com  

                                                                                        

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com

Marcus & Millichap Sells 171,509-SF Retail Building in Marianna, FL

 MARIANNA, FL, Sept. 22, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Oak Station, a 171,509-square foot retail property located in Marianna, Florida, for an undisclosed sales price according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

Dorothy Jackman (top right photo), vice president investments and Ron Schultz (middle left photo), investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller.

 The buyer, a limited liability company based out of Arizona, was also secured and represented by Schultz.

“During the marketing process, we procured a significant number of buyers looking for retail product of this size and class,” says Schultz.

“ We received multiple offers and inquiries despite current market conditions, area of subject property and vacancy issues.

“We narrowed the buyer pool down to the most probable buyer with a valid plan of increasing value. We worked through some difficult issues (deferred maintenance, loan assumption and lease renewals) while in contract.”  

Oak Station was built in 1989 and is located at 4700 Highway 90.  The property presented a true add-value opportunity at a very low price per square foot. 

Press Contact: Bryn D. Merrey

 Regional Manager, Tampa

 (813) 387-4700

Arbor Closes $18 Million Fannie Mae DUS® Loan for Alaris Village in Winston-Salem, NC

Uniondale, NY (Sept. 22, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $18,000,000 loan under the Fannie Mae DUS^® product line for the 284-unit complex known as Alaris Village (top left photo) in Winston-Salem, NC. The 10-year loan amortizes on a 30-year schedule.

The loan was originated by John Edwards,  Vice President, in Arbor’s full-service Boston, MA, lending office.

“It was a pleasure to continue to provide outstanding service and loan terms for this repeat Arbor client,” Edwards said.

Contact: Christopher Ostrowski, costrowski@arbor.com

CBRE Orlando Closes $44.15 Million Apartment Sale

ORLANDO, FL--CB Richard Ellis is pleased to announce the sale of Sun Key apartments in Winter Park. Built in 1987, Sun Key consists of 596 units, and sold for $44,150,000 – the largest multi-housing sale in Orlando thus far in 2010.

 The property was 94% occupied at closing. Shelton Granade (top right photo)  and Luke Wickham (lower left photo)  of CBRE’s Central Florida Multi-Housing Group exclusively represented the seller.

Sun Key is CBRE’s 12th apartment closing in the Orlando area thus far in 2010.

Contact:
Central Florida Multi-Housing Group,
SheltonGranade,SeniorVicePresident,T407.839.3103, shelton.granade@cbre.com  

 Luke Wickham, Director of Operations, T 407.839.3130,  

 luke.wickham@cbre.com

Top investment sales broker Darrell Betts joins Avison Young's U.S. brokerage operations

HOUSTON, TX, Sept. 22 /PRNewswire/ - Rand Stephens, Avison Young Principal and Managing Director of the company's Houston office, announced today that Darrell Betts - one of the Southwest's most prominent commercial real estate investment brokers - has joined Avison Young's brokerage operations in Houston.

Effective immediately, Betts joins Avison Young as a Principal and will lead the company's Capital Markets practice in Texas and the Southwest U.S. He was most recently an Executive Director with the Capital Markets Group of Cushman & Wakefield of Texas, Inc.

"We are indeed honoured to have someone of Darrell's caliber join Avison Young," comments Mark E. Rose, (lower left photo) Chair and CEO of Avison Young.

 "He is extremely effective at relationship-building and his rich experience and successful track record will add significant value to our company and, most importantly, to our clients. We are keenly focused on building our business in the Southwest and Darrell will greatly assist in this effort."

CONTACT: For further info/comment/photos: Sherry Quan, National Director of Communications & Media Relations, Avison Young: (604) 647-5098, cell: (604) 726-0959; Rand Stephens, Principal and Managing Director, Houston, Avison Young: (713) 504-3155; Mark Rose, Chair and CEO, Avison Young: (416) 673-4028; Earl Webb, President, U.S. Operations, Avison Young: (847) 881-2237; Darrell Betts, Principal, Avison Young: (713) 515-5001, http://www.avisonyoung.com/

Web Site: http://www.altair.com/

C&W office brokers negotiate $15 million in deals representing 135,000 sf for August

 Orlando, FL –  Cushman & Wakefield of Florida, Inc. (C&W) Office Brokerage Senior Directors Richard Solik and  Matthew McKeever, (top right photo) SIOR, CCIM, announced $15 million in deals for August. 

Brook Hines

Marketing Associate

Cushman & Wakefield

800 N. Magnolia Avenue, Suite 450

Orlando, Florida 32803

Tel: 407-541-4401

brook.hines@cushwake.com

www.cushwake.com

Matrix Corporate Center in Danbury, CT to Donate $26,000 to Local Charities on Behalf of General Motors

DANBURY, CT /PRNewswire/ -- Matrix Realty Group, a growing, dynamic national real estate investment firm,  announced that it has pledged to donate $26,000 to charity on behalf of General Motors.

This announcement comes directly on the heels of the front-page news that Matrix Realty Group signed a lease with General Motors NE Regional US Sales, Service and Marketing Division for 26,000 S/F of Class A office space at the Matrix Corporate Center, (top left photo) its flagship property in Danbury, Connecticut.

Matrix Realty Group will be donating $1 for every square foot leased to General Motors and other tenants.

"We are very pleased that a division of General Motors -- one of the world's largest automakers -- has chosen to relocate to Matrix Corporate Center," said Glen Nelson (lower right photo), Chairman and CEO of Matrix Realty Group.

"We are also very pleased to donate $26,000 to charity as part of our charitable giving program.

"The City of Danbury has been very welcoming and supportive of our presence and we take pleasure in helping local organizations improve the quality of life for people who live and work here.

"Over the course of our lease-up program, we expect to donate in excess of one-quarter of a million dollars to charity."
CONTACT: Aaron Smiles, Matrix Realty Group, +1-631-979-2777; Ext. 306, asmiles@matrixrealtygrp.com
Web Site: http://www.matrixcorpcenter.com/

Florida Developer Slashes Oceanfront Condos 43% To Spur Sales

MIAMI, FL--A Florida developer has slashed the asking price on the remaining 100 units in a new, oceanfront condo project by 43 percent to ignite sales in the luxury complex located in Florida's Treasure Coast, according to a new report from CondoVultures.com.

Prices have slipped below $200 per square foot on some unsold developer units at the two-tower Oceanique condominium (top left photo) located on the barrier island just south of Vero Beach, according to the licensed Florida buy-side brokerage Condo Vultures® Realty LLC.

When the project first opened in 2007, the average sales price in the 144-unit project was $336 per square foot, according to the report based on St. Lucie County records.

"This veteran developer has finally come to grips with the new world order of pricing for Florida condos, even for oceanfront projects," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "Vero Beach is located about three hours north of Miami Beach and two hours southeast of Orlando.

“The Oceanique does not have a South Beach or Walt Disney World type of location but the new pricing scheme for this oceanfront project may allow the developer to finally overcome that hurdle.

 "The reason being, new oceanfront condo units sell for a minimum of $415 per square foot in Greater Miami and nearly $350 per square foot in Fort Lauderdale." 

 Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.

Florida Developer Slashes Oceanfront Condos 43% To Spur Sales

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MIAMI, FL--A Florida developer has slashed the asking price on the remaining 100 units in a new, oceanfront condo project by 43 percent to ignite sales in the luxury complex located in Florida's Treasure Coast, according to a new report from CondoVultures.com. Prices have slipped below $200 per square foot on some unsold developer units at the two-tower Oceanique condominium (top left photo) located on the barrier island just south of Vero Beach, according to the licensed Florida buy-side brokerage Condo Vultures® Realty LLC. When the project first opened in 2007, the average sales price in the 144-unit project was $336 per square foot, according to the report based on St. Lucie County records. "This veteran developer has finally come to grips with the new world order of pricing for Florida condos, even for oceanfront projects," said Peter Zalewski (middle left photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC. "Vero Beach is located about three hours north of Miami Beach and two hours southeast of Orlando. The Oceanique does not have a South Beach or Walt Disney World type of location but the new pricing scheme for this oceanfront project may allow the developer to finally overcome that hurdle. "The reason being, new oceanfront condo units sell for a minimum of $415 per square foot in Greater Miami and nearly $350 per square foot in Fort Lauderdale."  Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at peter@condovultures.com.