HFF arranges $100 million permanent financing for DARPA’s future headquarters in Arlington, VA

WASHINGTON, D.C. – The Washington, D.C. office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $100 million permanent loan for the 355,000-square-foot future headquarters of the Defense Advanced Research Projects Agency (DARPA) in Arlington, Virginia.

 This project is the first phase of the 1.2 million-square-foot Founders Square (top left photo) mixed-use development.

HFF senior managing directors Bill Asbill (middle right photo)  and Bob Donhauser (middle left photo)  and director Dan McIntyre worked exclusively on behalf of the borrower, Ashton Park Associates I, LLC, to secure an 18-month forward commitment from Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, for a 15-year, fixed-rate loan. 

In 2009, HFF arranged the $98 million construction loan for the project with Landesbank Hessen-Thuringen, also known as Heleba. 

The Shooshan Company is handling the development of the property, which was designed by RTKL.  Clark Construction Group is the general contractor. 

The 13-story, trophy quality office building is due for completion in the first quarter of 2012.

 The property will meet the Department of Defense’s Level IV security standards and is designed to be certified LEED-Gold.  Situated at 675 North Randolph Street, the property is across from the Ballston Common Mall in the heart of Washington, D.C.’s Rosslyn-Ballston Corridor (R-B Corridor).

Formed in 1986, The Shooshan Company has planned, developed, managed and/or leased approximately two million square feet in the Rosslyn-Ballston Corridor.

 Projects include One and Two Liberty Center, The Residences at Liberty Center, Liberty Tower, Arlington Square, One Virginia Square and Quincy Street Station.

Contacts:    

William S. Asbill, HFF Senior Managing Director, (202) 533-2500,

wasbill@hfflp.com

Daniel J. McIntyre, HFF Director, (202) 533-2500, 

dmcintyre@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,

krmurphy@hfflp.com

Beech Street Capital Provides $1 Billion in Multifamily Loans – Record Volume Financing in First Year

 BETHESDA, MD, Jan. 11, 2011 – Beech Street Capital, LLC announced that it closed over $1 billion in agency financing in its first year of business, a record for a newly formed agency lender.

 “Beech Street Capital got off to the fastest start of any agency start-up in history,” said Shekar Narasimhan (lower left photo), managing partner at Beekman Advisors. 

He continued, “Their success is primarily due to a seasoned management team and a unique origination partnership. There are significant opportunities for the company to continue to grow in the agency multifamily space.”

 Beech Street Capital was founded in December 2009, as a Fannie Mae DUS lender. In April 2010, the firm was approved as a Freddie Mac Program Plus lender.  The company has experienced unprecedented growth by adding six origination offices and three underwriting offices since last August.

 Grace Huebscher (top right photo), president and CEO of Beech Street Capital stated, “We have had a very positive response from the market and our customers; largely resulting from the great team we have been able to attract and the commitment of our private equity partners.

“ Together we wanted to return to the fundamentals of the business and bring the entrepreneurial spirit to multifamily financing.”  

 Given the positive momentum with Beech Street Capital’s primary correspondent, Meridian Capital, and with the growing national origination team, Beech Street expects to originate $3 billion in 2011. 

Contact: Jenifer Bernardi (240-507-1946)

 EMAIL:  jbernardi@beechstcap.com

Marcus & Millichap Sells Two-Property Self-Storage Portfolio in Central Florida

 CRYSTAL RIVER, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a two-property self-storage portfolio totaling just over 100,000 square feet, located in Central Fla, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

Michael A. Mele (top right photo), vice president investments and senior director of the National Self-Storage Group, in Marcus & Millichap’s Tampa office, represented both the seller, a private investor from Florida, and the California-based buyer.  This represented Mr. Mele’s 21st self-storage transaction of 2010.

Press Contact:  Bryn D. Merrey, Regional Manager, Tampa

(813) 387-4700

Marcus & Millichap Sells $2.9 Million Apartment Building in West Des Moines, Iowa

 WEST DES MOINES, Iowa, Jan. 11, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Woodland Apartments (top left photo), a 60-unit apartment property located in West Des Moines, according to Matthew M. Fitzgerald (middle right photo), vice president and regional manager of the firm’s Des Moines office.

The asset commanded a sales price of $2.9 million.

Thomas DeWaay, an investment specialist in Marcus & Millichap’s Des Moines office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Thomas DeWaay. 

Woodland Apartments is located at 4949 Woodland Ave. in West Des Moines. The property, which was built in 1984, was 89 percent occupied at the time of purchase and traded at an 8.25 percent cap rate.

Press Contact:

Matthew M. Fitzgerald, Vice President and Regional Manager, Des Moines Office, (515) 645-3200

  

Jennifer Williams
Operations Manager
Marcus & Millichap 101 South Tryon Street Suite 2460 Charlotte, NC 28280 (704) 831-4600 main (704) 831-4610 fax (704) 914-5558 mobile jennifer.williams@marcusmillichap.com
Follow us at http://www.Twitter.com/mmreis

Foreclosure Freeze Leads To 41% Drop In South Florida Filings

MIAMI, FL--Lenders abruptly pulled back and filed less than 60,000 foreclosure actions in the tricounty South Florida region in 2010, a year after initiating nearly 100,000 notices of default in 2009, according to a new report from CondoVultures.com.

Administrative irregularities in the foreclosure process that surfaced in late September 2010 created a "foreclosure freeze" that forced lenders to file 61 percent fewer notices of default in Miami-Dade, Broward, and Palm Beach counties between October and December 2010 compared to the same three-month period in 2009, according to the report based on the Condo Vultures® Foreclosure Database™.

"The 'Robo-Signing' controversy tied to the administrative irregularities in the foreclosure process has basically forced lenders to downshift their efforts from fourth gear to first gear until the situation can be resolved," said Peter Zalewski (middle right photo), a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

"Lenders filed 14,000 fewer foreclosure actions in the fourth quarter of 2010 compared to a year earlier. As a result, 2010 ranks behind 2009 and 2008 in terms of the total foreclosure filing activity. The unknown is whether foreclosure filings will spike when - and if - the foreclosure freeze is eventually resolved."  

Foreclosures are a topic scheduled to be discussed at the upcoming Condo Vultures® 3rd annual "State of the South Florida Condo Market" event on Jan. 25 at the Miami City Club at the top of the Wachovia Financial Center in Downtown Miami.

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

Crossbeam Capital Makes Fifth December Acquisition: 200-Unit Apartment Community in Reston, VA

 

 RESTON, VA. Jan/ 10, 2010---Crossbeam Capital LLC of Bethesda, Md. has entered the Northern Virginia market by acquiring  the 200-unit Reston Glen Apartments (top left photo) in Reston, VA. 

Crossbeam purchased the10- acre garden rental community from Redstone Partners of New York for an undisclosed amount through its Workforce Housing Fund I

Reston Glen was the fifth multifamily property totaling 1200 rental apartments acquired in December, 2010 alone by Crossbeam Capital and its affiliated partner, Concierge Asset Management of Houston.

Together, Crossbeam/Concierge, through their national acquisitions program, closed on eight apartment communities in 2010 ranging from Evanston, IL to San Antonio, North Austin and North Dallas to Reston, a Washington D.C. suburb favored by high technology companies and government contractors.

“This purchase presents an excellent opportunity to complete the repositioning and redevelopment  strategy of Reston Glen that began before the economic downturn,” said Reggie Samuel  (middle right photo), director of acquisitions for Crossbeam Capital. 

He further said with the economy starting to grow in the DC metro area again, the $3 million which was invested into the substantial renovation of the apartment community in the two years prior to Crossbeam’s ownership is now starting to pay dividends. 

The property is currently 99% occupied and exhibiting strong rent growth trends.

Brad Blash  (middle left  photo), Crossbeam Capital’s chief acquisitions officer, added that Reston Glen’s proximity to major employers plus the “transit element” of the transaction “fits squarely within our Workforce Housing Fund’s mandates.” 

As the Metro’s new Silver Line from downtown Washington D.C. extends to Washington Dulles Airport, the Reston Metro stop will be located within two miles of the property and is anticipated to be completed in 2016, he said. 

 Andy Boyer and Jonathan Greenberg of CB Richard Ellis represented Redstone in marketing Reston Glen.

 “We’ve known Reggie since his EQR days and we were comfortable he and his Crossbeam team were the right buyers and could meet our client’s emphasis on surety of close,” said Boyer, executive vice president for CB Richard Ellis. 

Boyer credited Crossbeam for its quick response in working with the brokers and lender to ensure the “smooth, efficient closing.”

Samuel said the transaction gave Crossbeam entrée into one of the nation’s most resilient and strategically located markets and secure the asset at a price “substantially below” the original redeveloper’s cost. 

Maury Zanoff and Matt Williams of CBRE Capital Markets’ Washington, DC office arranged the permanent financing through Freddie Mac.

The 200-unit garden style apartment community, located at 12265 Laurel Glade Court, was built in 1974 and fully renovated in 2008.

 The new owners will invest additional capital into common area upgrades at the property including an Internet Café in the clubhouse, landscaping, signage enhancements and leasing office redesign. Large gas grills, an outdoor fireplace, and a shade pergola will be installed within a new barbeque/picnic area situated adjacent to the Reston Community Association’s biking/jogging trail that runs through the property.

Crossbeam’s strategic partner, Concierge Management Services, will manage the apartment community and renovation.

Summed up Samuel: ”Crossbeam/Concierge has the capital and the track record for smooth, efficient, timely closes and is poised to complete considerably more acquisitions in 2011 of multi-family properties that need redevelopment and disciplined financial and operational transformations.”

 Contacts:

Jennifer Farthing – 240.223.1679 – jfarthing@crossbeamcapital.com

Chris Barnett – 415.336.5092 - cbarn@aol.com

Terri Echarte Joins Atlantic| Pacific Companies as Managing Director, Real Estate Group

MIAMI, FL (Jan. 10, 2011) – Atlantic | Pacific Companies (A | P), a fourth generation real estate company, is pleased to announce the addition of Terri Echarte (top right photo).

Terri joins the company as Managing Director of the Real Estate Group and comes with over 25 years of experience in the real estate industry including commercial real estate management, marketing and finance.

Terri’s leading role at A | P will be to coordinate new business development and asset management.

 Prior to joining A | P, Terri opened a Miami office for the Douglas Wilson Companies, a national firm specializing in real estate receiverships. 

As Regional Managing Director, her focus included marketing the firm’s services with lenders and attorneys in the Southeast and East Coast of Florida.

 In addition, she worked on distressed real estate assignments. Previously, Terri was a Managing Director for Holliday Fenoglio Fowler (HFF) where she arranged debt financing on all types of commercial real estate.  She also served as Senior Vice President with Bank of America for nearly ten years.

 Randy Weisburd (middle left photo), Chief Operating Officer, says "A | P is delighted to add Terri to our team of top professionals;  2010 was a year of tremendous growth and Terri’s addition will further position A|P as the market leader in providing commercial real estate advisory and management services.

For more information, please contact

Randy Weisburd at rweisburd@apmanagement.net

Jessica Wade Pfeffer / Jessica Wade Inc., 305.804.8424       Jessica@jessicawadeinc.com

 

Bourbon Orleans Hotel Completes Internet Network

 NEW ORLEANS, LA - In a move recognizing the needs of today’s travelers and meeting attendees, the Bourbon Orleans Hotel has installed an all new network for wireless internet (Wi-Fi) provided throughout the hotel at no charge to guests, effective immediately.

Noting that the demand for more individualized, interactive digital information and entertainment services has grown to become a leading factor in every guest’s choice of property, owners of the Bourbon Orleans announced the selection of a technology vendor to partner in this Wi-Fi improvement plan throughout the hotel’s guestrooms and public spaces.

 The vendor, iBAHN, is the only global provider of integrated digital IP platform based solutions for the hospitality and meeting industries, providing best-in-class broadband performance, security and bandwidth management tools to keep guests satisfied.

In addition, with more than 200 meetings and conference groups booked annually at the Bourbon Orleans Hotel, the choice of iBAHN Conference Services provides a fully managed network that includes iBAHN hardware, end-to-end Wi-Fi and wired security, and an unlimited pool of IP addresses.

Contact:                                                                     

Mark Wilson, General Manager, 504 523-2222,  Mark.Wilson@ihrco.com  

Web site: http://www.bourbonorleans.com/
 Twitter.com/BourbonOrleans
 Facebook.com/BourbonOrleans                                 

Realty Markets Rebounding, Says New RECI Study

CHICAGO, IL, Jan. 10, 2011 - Realty markets are rebounding,

although at a slow and sporadic pace.  Each property sector shows varied investor demand, strictly driven by location, quality and cash flow dynamics as broadly outlined below:

Jeanne Peck (top right photo), director of the Real Estate Capital Institute, predicts, "The new year brings more optimism and hope as the worst seems to be behind us."

Peck says, "While economic recovery is in motion, throwing caution in the

wind is a reckless investment strategy.  Market volatility is very property-type and location-driven and proper due diligence is more important than ever"

Multifamily -- As has been the case for most of this decade, investors clamor

for Class A apartments in major markets.  Extremely aggressive pricing leads

many to consider new construction in the major markets based on rapidly rising rental rates and tight supply.  In many cases, investor demand is overflowing into secondary markets, driving up pricing across the entire sector.  As long as the GSEs are active players in the financing arena, expect the apartment sector to maintain peak prices, often valued with below 6% cap rates.

Net Lease -- Single-tenant, net lease properties in nearly all categories enjoy strong investor demand.  Overall pricing ranges from 6%  cap rates or more, depending upon credit and length of lease term.  This market segment is the most sensitive to interest rate volatility and should continue to show solid performance gains, depending upon cost of capital.

Industrial/Warehouse -- Economic recovery helps this property sector maintain a strong foothold of investor demand.  Industrial properties tend to rebound faster than other commercial property sectors as overbuilding as "spec" development is closely linked to the overall economy, keeping capital in check with supply and demand.  Expect solid pricing in the "gateway" markets along the coasts and in the Midwest.  Cap rates will mirror net lease

assets.

Retail -- Retail properties are more location-driven than any other asset class.  While credit tenancy is important, sales performance of each location drives pricing as many retailers represent marginal credit. Existing and new-construction infill properties are in strong investor demand with cap rates mirroring the highest quality properties in other property sectors.

Office -- Office property values have been vacillating during the past year as office space dynamics greatly vary in different parts of the country and downtown vs. outlying locations.  "Core" CBD properties maintain strong pricing with cap rates hovering in the 6% to 7% range for newer, multitenant

assets with long-term leases.  Conversely, many investors avoid the suburbs

as oversupply and employment fundamentals lag. 

Lodging, senior housing, recreational and other property types are also rebounding, but on an extremely selective basis.  These "business-type"

properties vary widely in values and are heavily linked to sponsorship and

performance.  As such, valuation metrics continue to emerge.

The Real Estate Capital Institute(r) is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR.

Call the Real Estate Capital RateLine at 7RE-CAPITAL (773-227-4825) for hourly rate updates.

The   Real Estate Capital Institute(r)

3517 West Arthington Street

Chicago, Illinois USA 60624

Contact: Jeanne Peck, Research Director

Toll Free 800-994-RECI (7324)

mailto:director@reci.com

http://www.reci.com/

Grubb & Ellis Represents Sorgente Group in Lease for Tomasella’s First Manhattan Store

  

NEW YORK, NY (Jan. 10, 2011) – Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it represented Sorgente Group in the lease of 5,520 square feet of retail space to Tomasella U.S.A. at 32 Greene St. in SoHo (top left photo and top right map). 

 The location represents the first Manhattan location for the high-end Italian furniture retailer.

Jason Meister, associate, Investment Group, and Gary Schwartzman, managing director, Retail Group, facilitated the transaction on behalf of Sorgente, which has been expanding its portfolio of real estate assets in New York and major markets throughout the U.S. 

Grubb & Ellis represented Sorgente in the acquisition of 32 Greene St. in 2007.

 “This is a significant retail transaction for the New York City market, as the rent achieved indicates an upward trend for the SoHo retail corridor,” said Meister.  “The fact that there are so many luxury home furnishing retail tenants in this area of Greene Street make it the perfect home for Tomasella U.S.A.”

 Tomasella has leased the 2,610-square-foot ground floor and 2,910-square-foot lower level of the newly renovated cast-iron building, which has high-end residential condo units in the upper floors.  The retail ground floor features approximately 34 feet of frontage, 15-foot ceilings and dramatic skylights spanning the width of the property.

Schwartzman added, "By combining and artfully renovating two classic SoHo buildings, Sorgente created spacious loft condominiums and a dramatic new retail space.”

 The Sorgente Group is an owner and investor in New York and other top markets throughout the U.S. and globally.  The company recently purchased a majority stake in the Flatiron Building.

Contacts:

 Erin Mays, 312.698.6735,  erin.mays@grubb-ellis.com

 Mary Ryan , 212.326.4747, mary.ryan@grubb-ellis.com

  

EagleBridge Capital Arranges $7,450,000 for Three New Industrial Buildings

 Boston, MA--EagleBridge Capital has arranged construction and permanent mortgage financing totaling $7,450,000 for three new industrial building currently under construction in Middleton, Middleborough, and Chicopee, Massachusetts

The mortgage financings were arranged by EagleBridge principals Ted. M. Sidel (top right photo) and Brian D. Sheehan (top left photo) who stated that the loans were provided by three different regional banks.

In Middleton, EagleBridge arranged mortgage financing for the new 20,000 square foot headquarters of Tool Technology, Inc. to be located on Ajootian Way in the Riverview Industrial Park.

 Tool Technology is an ISO 9010 and AS9100 registered contract manufacturer which has been providing high quality, ultra-precision components and sub-assemblies for over 30 years to a wide variety of industries including aerospace, communications, medical, military defense, and semiconductor.  

In Middleborough, EagleBridge arranged mortgage financing for a new 20,000 square foot distribution/warehouse building located on a 3.98 acre site on Leona Drive in the Campanelli Business Park of Middleborough, a 220 acre business park located in close proximity to Route I-495.
 

In Chicopee, EagleBridge arranged mortgage financing for a new 31,000 square foot distribution/warehouse building (middle right photo) on a 4.33 acre site on Lonczak Drive in the Westover Air Park.

 Mr. Sidel and Mr. Sheehan stated, “We were pleased to arrange financing on very competitive terms that met our clients’ requirements. 

"Even in today’s challenging economic environment, financing is available for well conceived high quality projects such as these.”

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for industrial, office, r & d and apartment buildings,  hotels and mixed use properties as well as special purpose buildings.

 Contact:  Ted Sidel, (617) 292-7177 Ext. 10 

http://www.eaglebridgecapital.com/

Berger Commercial Realty Corp. Announces New Sales

FORT LAUDERDALE, Fla. – Berger Commercial Realty Corp., a full service commercial real estate firm based in Fort Lauderdale, Fla., and serving clients around the state, announced two new deals from brokers Judy Dolan (top right photo)  and Steve Hyatt (lower left photo).

Dolan and Hyatt represented the sellers in both transactions.

Dolan and Hyatt represented the James Pappas Trust & HIS Aventura Land LLC in the sale of The Cove Shopping Center, a 25,182-square-foot, three-building retail complex located at 18955-19029 Biscayne Boulevard in Aventura, to buyer Aventura Grand Cove LLC for $8,582,500.

Dolan and Hyatt also represented 1st National Bank of South Florida in the sale of a three-story, multi-tenant office building located at 1212 E. Broward Blvd. in Fort Lauderdale to Michael Meiser for $1,625,000.

Contact:

Marielle Sologuren

Pierson Grant Public Relations
6301 Northwest 5th Way, Suite 2600
Fort Lauderdale, FL 33309
Phone: (954) 776-1999, ext. 226
Fax: (954) 776-0290
msologuren@piersongrant.com

http://piersongrant.com/

HighImpactDigital.com

HFF closes $86.5 million sale of and arranges financing for Fox Run Apartments in central New Jersey

 FLORHAM PARK, NJ – The New Jersey and New York offices of HFF (Holliday Fenoglio Fowler, L.P.) have closed the sale of and arranged acquisition financing for Fox Run Apartments (top left photo), a 776-unit multi-housing complex in Plainsboro, New Jersey.

The HFF investment sales team, led by senior managing directors Jose Cruz (top right photo) and Andrew Scandalios (middle left photo) and directors Jeffrey Julien and Kevin O’Hearn, marketed the property on behalf of the sellers, Angelo Gordon & Company and Vantage Properties, who have owned the property since July 2009. 

Avalon Bay Communities purchased Fox Run Apartments for $86.5 million or $111,000 per unit and assumed existing financing on the property.

In addition, HFF’s Cruz and director John Taylor (lower right photo) worked on behalf of the buyer/borrower, Avalon Bay Communities, to secure a $10 million, fixed-rate securitized acquisition loan through PNC Real Estate. 

Fox Run Apartments is located at 60 Fox Run close to Route 1, Carnegie Center, Princeton Forrestal Village and the University Medical Center at Princeton, which is due to open in 2011. 

The property is situated on more than 46 acres and has 58 two-story buildings with one- and two-bedroom units averaging 713 square feet each.  Community amenities include a clubhouse, fitness center, outdoor swimming pool, community room, jogging trail, picnic area with barbeque pits and 11 laundry rooms.

“Fox Run Apartments benefits from a premier location within the prestigious Princeton submarket; in between New York City and Philadelphia,” said Cruz.  “This submarket has a proven track record of high occupancy and has high barriers to entry for new construction.”

 Contacts:

Jose R. Cruz,, HFF Senior Managing Director, (973) 549-2000, jcruz@hfflp.com

 Andrew G. Scandalios, HFF Senior Managing Director, (713) 852-3500,  ascandalios@hfflp.com

Kristen R. Murphy, HFF Associate Director, Marketing,(212) 245-2425,                                    

krmurphy@hfflp.com

D & A Building Services Names National Vice President of Marketing

 LONGWOOD, FL—D & A Building Services Inc., one of the largest Hispanic owned facility maintenance companies in the nation, has appointed Randall A. Edwards (top right photo) to Vice President of Marketing.

 Edward is responsible for national strategic marketing planning, business development, sales, advertising, and operations.

 He has nearly 25 years in the janitorial and facility maintenance industry at all levels of management, and is a graduate of the U.S. Naval Military “A” School. Previously, Edwards was an Executive Vice President with General Building Maintenance, a national facility maintenance company. 

 He is a member of Building Owners & Managers Association, the International Facility Managers Association, the Building Service Contractors Association International and the Central Florida Hotel & Lodging Association.

“Randall’s national experience will help us continue to grow, “said Al Sarabasa (lower left photo) Jr., president/CEO, D & A Building Services.

For additional information, please visit http://www.dabuildingservices.com/

D & A Building Services Completes Landscape Upgrades at Hospital   

LONGWOOD, FL  —The landscape division of D & A Building Services Inc. has completed its contract with Health Central (lower right photo) in Ocoee, Florida, to provide landscape enhancements throughout the 80-acre medical center campus including new plant material, new sod and the installation of mulch.

 

The facility maintenance also has a contract with the hospital for window washing, pressure cleaning and ongoing grounds upkeep.

PR Contact: Elaine Ingra, (407) 384-1344 elainei@pr-works.com

Avalon Park Group Negotiates Lease Agreement for 2,400 SF of Downtown space that will be home to Yoga East in Orlando

 ORLANDO, FL - Avalon Park Group recently negotiated a new lease agreement for 2,400 square feet of space at 3734 Avalon Park East Blvd. in Downtown Avalon Park.

 Eric Marks, senior vice president at Avalon Park Group, negotiated the lease agreement with Avalon Park Holistic Lifestyle Center, doing business as Yoga East.

 Marks said the owners, who are Avalon Park residents, leased a live-work town home in downtown Avalon Park (lower right photo) that features commercial space at street level and living space on the upper floor. 

 “These units are ideal for owner/operators who need to be close to their client base,” Marks said.

 Yoga East will offer yoga classes, massage services and a retail area with eco-friendly, fair trade and locally made products. 

 “We are excited to bring holistic health and wellness services to East Orlando with the opening of Yoga East,” said studio director Michelle Owens. “Avalon Park is already well-known as a neighborhood of choice for people with active lifestyles. 

“Yoga East enhances that reputation by providing a place where everyone is welcome to come and experience the physical, mental and spiritual benefits of yoga and healthy living,” Owens said. 

For more information email

 Avalon Park is located off Alafaya Trail south of SR 50 in southeast Orlando.

For more information, contact:  

Stephanie Hodson, Marketing Director, Avalon Park Group 407-658-6565;  

Eric Marks, Vice President /Chief Operating Officer, Avalon Park Group 407-658-6565; 

Beat Kahli, Founder /CEO Avalon Park Group 407-658-6565;  

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142    Yogaeaststudio@comcast.net