Commercial

CoStar’s People of Note (Jan. 29-Feb. 4)-This week’s People of Note includes the following markets: Chicago, Dallas/Fort Worth, Los Angeles, Milwaukee/Madison, New York City, Philadelphia, Pittsburgh, South Florida, Washington, DC.

LOS ANGELES
Cockrum Joins Lowe Enterprises Investors as SVP
By Laurie Forbes

Lowe Enterprises Investors hired William M. Cockrum IV as senior vice president to head the company’s marketing and capital raising efforts. He will be based in th

Griffin-American Healthcare REIT Closes on Southeast Portfolio for $25.1M-Griffin-American Healthcare REIT II (formerly Grubb & Ellis Healthcare REIT II) has closed on three medical office buildings in the Southeastern U.S. for a total of $25.1 million, or about $215 per square foot.

The three properties total 116,802 square feet, and all enjoy high occupancy and are either located on or in close proximity to a regional medical center.
Boynton East Medical Pavilion totals 28,286 square feet at 2800 S. Seacrest Blvd…

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REMS Group Sells Brickell Station Lofts for $17M-REMS Group, Inc. sold the Brickell Station Lofts, a multifamily development at 100 SW 10th St. in Miami, Florida to MDR Real Estate LLC for $17 million, or about $270,000 per unit.

The property is a nine-story, 80,712-square-foot building constructed in 2009. The apartment building is a mix of 12 one-bedroom and 51 two-bedroom units that range from 910 to 1,342 square feet.

The asset been foreclosed on during development, and the seller acquired…

Latest Potential Investor In Grubb & Ellis Emerges From Talks Without Agreement-A two-week period of exclusive negotiations between Grubb & Ellis Co. and New York-based financial brokerage BGC Partners expired Tuesday without an agreement, according to a document filed with the U.S. Securities and Exchange Commission.

Under the previous agreement, Grubb & Ellis provided an exclusive right to negotiate for BGC Partners, headed by chief executive Howard Ludnick, to pursue a debt or equity financing agreement or acquisition of…

Flagler Set to Sell for $1.2 Billion-Private equity group TPG Capital LP has entered an agreement to acquire Flagler, a Florida-based real estate company, from private equity firm Fortress Investment Group LLC for $1.2 billion.

The purchase will include Flagler’s management team as well as a mixture of various types of real estate in and around the Orlando, Miami and Jacksonville markets.

A letter of intent has been signed by TPG and a partial payment is expected next month.

Flagler…

Byrnes Joins Berger Commercial-Berger Commercial Realty Corp has hired Joseph Byrnes as a vice president. He will be responsible for providing a full range of commercial real estate and brokerage services.

Byrnes has more than 27 years of real estate experience in Broward County, previously a broker at ComReal in Fort Lauderdale. He currently represents more than 80,000 square feet of office, industrial and retail space.

Byrnes is CCIM member, a member of the South Florida…

TA Associates Realty Pays $19M for America’s Gateway Portfolio-TA Associates Realty acquired the America’s Gateway portfolio in Miami, FL from Clarion Partners for $19.1 million, or about $75 per square foot.

The portfolio consists of four multi-tenant warehouse buildings constructed in the early 1980’s totaling 252,491 square feet. The buildings are located within the Miami Airport West Industrial submarket. The buildings were about 94 percent leased at the time of sale.

Chris Riley, Christian Lee…

NAI/Merin Hunter Codman Promotes Paul to CEO-NAI/Merin Hunter Codman promoted Jordan C. Paul to the newly created position of CEO at the South Florida commercial real estate services provider and tasked him with accelerating the firm’s statewide growth. He has been with the firm for one year and previously served as chief operating officer.

As CEO, Paul will direct business development for the firm and head its brokerage, construction and property management operations as well as overseeing…

Aztec Group Secures Financing For Two Shopping Centers in Suburban Miami-Jason Shapiro, managing director and Kevin Miliffe, director with Atzec Group arranged for two non-recourse, 10-year, fixed-rate loans totaling $4.65 million for Suchman Retail Group, owner of Dadeland North and Snapper Creek Shopping Centers.

The Dadeland North Shopping Center is a 32,665-square-foot retail center located at the northeast corner of South Dixie Highway and Ludlam Road in Pinecrest, near Dadeland Mall.

Snapper Creek Shopping…