If you don't see images, click here to view Story Ideas. Events To ensure delivery, please add newsletter@bisnow.com to your address book, learn how National Atlanta Baltimore Boston Charlotte Chicago Dallas-Fort Worth Houston Los Angeles New York South Florida Washington The Deal Sheet Only the world's (yes, the world's) top movers are part of the Office Moving Alliance. Learn more about what sets them apart here, and see ad at right. April 20, 2011 KBS REIT II made its second West Palm Beach acquisition in the last four months with the addition of the 18-story City Place Tower for an undisclosed amount. In December, the REIT acquired the 139k SF two-building Emerald View at Vista Center. City Place Tower features 296k SF, including more than 8,000 SF of retail and access to 870 parking spaces. It's 86% leased, the newest office tower in the CBD, and the only one built to current hurricane resistant code with full back-up power capabilities, says KBS Realty Advisors SVP Shannon Hill. Douglas Harmon of Eastdil Secured s New York office and Michael McDonald and Miles Theodore of Eastdil Secured s Atlanta office represented the seller. KBS Capital Advisors, an affiliate of KBS Realty Advisors, represented KBS REIT II. 1 of 8 5/2/11 10:36 AM
NEW BUSINESS Hudson Realty Capital expanded its Southeast operations with the opening of a regional office at 12734 Kenwood Ln in Fort Myers. Hudson is growing its asset management and origination platform while concentrating on a portfolio of 109 commercial real estate assets throughout Florida and Georgia recently acquired in partnership with the FDIC. Grace Miller will oversee Hudson s Southeast operations, including workouts and asset restructuring related to the FDIC pool. Prime Sites Daniel and Monette O'Grady were selected by the Marlins organization to manage the process of identifying the signature restaurant at the main plaza entrance west of the ballpark. The location has a free-standing presence at the main entrance to the ballpark with up to 7,500 SF and the ability to have a roof top area. Atlantic Pacific Management was selected as the new property management company for Las Olas Riverfront located at 300 SW First Ave in Fort Lauderdale. Under the new agreement, Atlantic Pacific now provides management and accounting services with Natalie Saldarriaga as the regional manager. Las Olas Riverfront is a 245k SF open-air lifestyle center on the north bank of the New River. Lincoln Property Co was awarded a new leasing and management assignment at Lake Destiny Executive Center. The three-building, 150k SF office complex will be leased by Scott Gregory and Jay Dixon. In Maitland Center, the three Class-A properties, owned by the Three R Corp, have from 500 to 30k SF of contiguous spaceavailable, including full floors. LEASES Adler Realty Services completed the 11k SF retail lease for Jump A Roos at Southland Mall in Cutler Bay. ARS helped secure the flagship site for this new business venture in children s indoor inflatable play centers. Adler s Matthew Bittel represented the tenant with Gumberg Asset Management Corp's Ron Lemma repping landlord Southland Mall Properties. With the new space, Jump A Roos will become the largest indoor inflatable play and party center in Miami-Dade. It will include four large private party rooms, seven inflatable units, large screen televisions, wi-fi, and a full concession area. The tenant 2 of 8 5/2/11 10:36 AM
build-out is being completed by Ivy Development. ComReal Fort Lauderdale Commercial Real Estate Services Viktoria Telek repped two 15k SF warehouses to companies needing larger facilities. One tenant is in the marine industry in Broward International Commerce Center in Broward Co. (Cushman & Wakefield of Florida repped the landlord.) The other is a beauty product distributor in Dania Beach. CBRE repped the landlord in that deal. Miramar-based Rocksolid Granit USA relocated within the Miramar Park of Commerce to a 7,000 SF office space in MPC-2. The park location has served as the company's US HQ for five years and currently has 25 employees. Rocksolid Granit USA has other HQ locations in Italy, Australia, and the UK in addition to 160 franchise locations around the globe. Ryan Goggins, leasing agent with Sunbeam Properties, represented the park. FINANCING Canyon Capital Realty Advisors funded a $130M senior construction loan to Brickell Holdings to complete the development of 600 Brickell (Brickell World Plaza), a 40-story, Class-A office tower with 600k SF of leasable space in the heart of the Brickell submarket of Miami s CBD. The developer, Miami-based Foram Group, is initiating leasing. The building's 80% complete, with occupancy scheduled for this fall. The construction loan from Canyon funds not only the completion of the building s core and shell, but tenant improvements and leasing commission. CBRE's Noël Steinfeld and Chris Dekker of the Miami office are handling leasing, while Foram is handling retail leasing and on-site property management. CGI Capital Holdings led by Raoul Thomas, arranged the financing. SALES CB Richard Ellis Realty Trust and Duke Realty completed their office JV program through the acquisition of 13 office buildings across the US totaling 2M SF valued at $342.8M, making it the largest deal in CBRE Realty Trust's history. The acquisitions mark the second and final phase of the office portfolio of 20 suburban office buildings totaling more than 3M SF and valued at more than $516M. The multitenant portfolio is 96% leased and includes all Class-A buildings across five national office markets including four Fort Lauderdale 3 of 8 5/2/11 10:36 AM
properties: Weston Pointe I with 98k SF; Weston Pointe II with 97k SF; Weston Pointe III with 97k SF; and (you guessed it) Weston Pointe IV with 96k SF. PEOPLE ON THE MOVE Rachel Wein, founder of WeinPlus Real Estate Advisory Services in St. Petersburg, was appointed to the planning committee that will coordinate the University of Florida s Real Estate Trends and Strategies Conference in Orlando early next year. Rachel says she expects the conference to address the nation s emergence from a major economic recession that centers on real estate values, and residential and CRE will play a pivotal role in our economy at the national level and in Florida. The annual conference relocated to Orlando last year to provide expanded meeting facilities to its growing audience. Gregory Andris joined Molinaro Koger as VP and will be based in the firm s office in Miami. The office is focused primarily on serving clients in the Southeastern US, Caribbean, Mexico, Central and South American markets. Greg will provide investment, sales, and financing assistance to clients. He has more than 20 years of hotel real estate experience and has completed more than $800M in transactions. He has a law degree and served many years as real estate corporate counsel for Marriott Corp. Prior to joining Molinaro Koger, he was managing principal for Caribbean Resort Advisors. Miller Construction Co promoted Kimberly Riehn to CFO of the Florida construction services firm. Kimberly joined the Fort Lauderdale-based company as controller in 2010. She has more than 20 years of experience in corporate accounting and financial management and in commercial real estate and has been responsible for streamlining and enhancing financial processes for Miller. Prior to joining the firm, she served as manager of corporate accounting with Republic Services in Ft. Lauderdale for 12 years. MAY 10: BISNOW HOTEL CONFERENCE! 4 of 8 5/2/11 10:36 AM
If you re interested in the booming hotel sector, come to Washington, DC, at the height of glorious springtime, and stay at the city s most luxurious hotel, the Jefferson, above, or two blocks away at the iconic Capital Hilton where our first Bisnow national Hotel Investment Converence will be held on May 10. We have secured discounted rooms for you at both venues, while they last. Both are steps from the White House. DC is now arguably the capital of the hotel industry (HQ of Marriott and Hilton and many hotel investment firms) and top officials of leading owners, brands, brokers, and financiers will be speaking: Pebblebrook, Choice, Hersha, LaSalle, Mesa West, LW Hospitality, Crestline, Apple REIT, Humboldt, Ackman Ziff, Walker Dunlop, Morgan Keegan, Allied, and others. Network with key figures in the industry and find out the latest trends and opportunities. SIGN UP NOW. Regarding hotel reservations, write to us and let us know your desired dates. We re also planning a cocktail party the night before for out-of-towners. Passover's started. Tell us your favorite family matzo recipe or just send us your news to Tonie Auer at Tonie@bisnow.com. 5 of 8 5/2/11 10:36 AM
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