Commercial

Sime Realty Named Exlcusive Agent at Palmetto Bay Village Center-Grouper Financial Realty LLC has retained Sime Realty Corp. as the exclusive leasing agents for the Offices at Palmetto Bay Village Center. Located at 18001 Old Cutler Rd. in Village of Palmetto Bay, FL, the center is a three-building, 266,819-square-foot office park with beautiful views of Biscayne Bay. President Scott Sime and vice president Elizabeth Santos will handle the leasing and marketing of the property.

Situated on 80 acres, the office…

Aztec Group Secures Financing for Winn-Dixie-Aztec Group, Inc. secured a $7.02 million permanent loan for the Winn-Dixie property located at 3725 Coral Way in Miami, Florida.

Jason Shapiro and Jim Fried, managing directors of Aztec Group arranged the financing for the borrower.

Constructed in 1990, the Winn-Dixie is located on the east side of the Coral Gables submarket. With direct frontage along Coral Way, the store is strategically placed along a major corridor that connects Downtown…

Gaia, Starwood Acquire and Recapitalize 9,500-Unit Multifamily Portfolio-Gaia Real Estate and an affiliate of Starwood Capital Group agreed to invest $22.5 million of new equity to acquire and recapitalize PJ Finance Co., which filed for Chapter 11 bankruptcy protection in March 2011 and reemerged as a going concern on May 11, 2012.

PJ Finance’s assets include a multifamily portfolio with more than 9,500 multifamily units in major metropolitan areas throughout the Sunbelt region. More than 45% of units are in Dallas…

North Gables Executive Ctr Commands $5.15M-Nor Peru Capital 2 LLC, a foreign investor, acquired the North Gables Executive Center from One Executive Offices LLC for $5.15 million, or about $278 per square foot.

The office building delivered in 1965 and had extensive renovations in 2011. It is located at 1000 Ponce De Leon Blvd. in Coral Gables, FL. The building was 100 percent leased at the time of sale. The buyer will continue to lease out the building as executive suites.

Douglas…

Hotel Developers Pay $12.5M for Half Acre in Miami Beach-King & Grove Hotels, a hotel development company, acquired three parcels along Collins Ave. in Miami Beach, FL from LeaseFlordia LLC for $12.5 million.

The deal represents a 0.639-acre tract. 1201 Collins Ave. is a parking lot on 0.3 acres, 1221 Collins Ave. is a three-story retail building totaling 12,279 square feet on 0.2 acres, and 1225 Collins Ave. is a two-story, 6,580-square-foot office building on more than 0.15 acres.

The seller and…

Gables Granada Plaza Acquired for $7.5M-Steiner Leisure Limited acquired the Gables Granada Plaza office building at 770 S. Dixie Hwy in Coral Gables, FL from Gables Granada Plaza, Inc. for $7.5 million, or about $212 per square foot.

The property is a two-story, 35,313-square-foot building constructed in 1990. The buyer was the second floor tenant, who will expand into a larger portion of the first floor leaving less than 5,000 square feet available for lease.

Bill Bailey and Thad…

Kendall Breeze Plaza Trades for $9.5M-Kendall Breeze Shopping Center LLC acquired the Kendall Breeze Plaza located at 12300 - 12498 SW 127th Ave. in Miami, FL from ASA Investments of South Florida, Inc. for $9.5 million, or about $118 per square foot.

The 80,225-square-foot plaza is anchored by Baptist Health South Florida. It was built in 2003 on 10.3 acres in the Kendall submarket of Miami/Dade County.

Betty Gonzalez of The Keyes Company represented the seller, while Roberto…

CoStar’s People of Note (May 6-12)-This week’s People of Note includes the following markets: Houston, National, Orange County, Sacramento and Washington, DC.

NATIONAL
CBRE President Robert Sulentic To Succeed Retiring CEO Brett White
By Randyl Drummer

Brett White announced he will retire as chief executive of CBRE Group, Inc. (NYSE:CBG) at the end of the year, capping a remarkable run in which he rose through the ranks from a sales trainee in 1984 to head the largest commercial…

Liberty Investments Secures Finanicing for Colonial Acres Mobile Park-Aztec Group secured $9.15 million in senior debt financing for Colonial Acres Mobile Home Park in Miami, FL. Senior managing director Howard Taft and director Charles Penan of Aztec Group, Inc. arranged the financing for the owner.

Located at 9674 NW 10th Ave. in Miami, Florida, Colonial Acres is a 296-pad mobile home community. The park average occupancy rate is around 97 percent. Over the next few years, the park’s ownership, Liberty Investments…

Investor Sells 2.2 Acres for $22M-Local investor Carlos Mattos of Sunny Isles Property Holdings LLC traded the 2.2-acre oceanfront parcel at 16901 Collins Ave. in Sunny Isles Beach, FL to an affiliate of Fortune International Realty for $22 million, or approximately $10.17 million per acre.

The 94,220-square-foot land site is located in the Aventura submarket and is zoned MUR. The development plans for this site are unknown, but the buyer owns and developed the immediately-adjacent…