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Cushman & Wakefield, as exclusive marketing advisor, is pleased to present 2150 Park, 20 fully renovated residences located at 2150 Park Avenue in the heart of South Beach. The property is currently operating as a Short-Term Rental facility with a hotel license in place under the Jurny Brand. The management agreement has the option to be terminated upon a potential sale of the property. It has been performing exceedingly well in the post-pandemic era with ADR levels surpassing $240 and occupancy levels hitting higher than 90%.

The property allows for multiple investment strategies including hotel, apartments, short-term rentals, condo-conversion and condo-hotel. The property was recently completely “gutted” with just the building frame remaining. All “behind the scenes” elements including electrical, plumbing, roofing etc. were replaced. Renovations also featured tile flooring throughout the rooms, upgraded kitchens with stainless steel appliances and modern cabinets, subway tile throughout the bathroom and the shower, new vanities and fixtures as well as modern furniture and light fixtures. With STR being very limited throughout Miami Beach, this truly is a stabilized turnkey, high-end boutique residence that does not exist near the Convention Center.

The property provides furnished units averaging 443 square feet, all 1BR/1BA units. 2150 Park is located only footsteps from the Miami Beach Convention Center, the Bass Museum of Art and the world-renowned Lincoln Road. The property is steps away from some of South Beach’s most iconic resorts including The Loews, The Setai, The Shore Club, The Delano, The W and Faena Miami Beach.

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2150 Park
20 Units
2150 Park Avenue
Miami Beach, FL  33139
Posted: 5/3/2022

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present 250 Collins, 27 fully renovated residences located at 250 Collins Avenue in the heart of South Beach. The property is currently operating as a Short-Term Rental facility with a short-term rental license in place under a management agreement with Sextant Brand. The management agreement has the option to be terminated upon a potential sale of the property. 250 Collins has been performing exceedingly well in the post-pandemic era with ADR levels surpassing $500 and occupancy levels hitting higher than 90%.

The property allows for multiple investment strategies including hotel, apartments, short-term rentals, condo-conversion and condo-hotel. The property recently completed a multi-year renovation which offers ultra high-end finishes including custom kitchens with quartz counters, high-end white lacquered cabinets and Miele appliance packages. Added into the redesign are a third floor glass penthouse level and a fourth floor roof top pool and sun deck. This truly is a stabilized turnkey, high-end boutique residence that does not exist South of 5th on Miami Beach.

The property provides spacious units averaging 703 square feet including 16 1bd/ba; 8 2bd/2ba; and 3bd/2ba units. 250 Collins is located in SOFI (South of Fifth) neighborhood, which is considered the most desirable in South Beach. The property is steps away from some of South Beach’s finest destinations including Carbone’s, Prime 112, Prime Italian, Prime Fish, Nikki Beach, Joe’s Stonecrab, Smith & Wollensky, Milos, and Fogo de Chao. Surrounding condominiums such as Continuum, Apogee One Ocean, and Glass are selling up to $50 million per unit. Just 200 yards from 250 Collins and you are on the sand amongst the hottest beach scene on South Beach.

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250 Collins
27 Units
250 Collins
Miami Beach, FL  33139
Posted: 5/3/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present a core-plus investment opportunity to acquire 33 West, a 376-unit garden-style multifamily asset located in a central, in-fill, higher barrier-to-entry location in Davie, Florida. Originally built in 2014, the property offers the opportunity for investors to add hard-surface bedroom flooring, refinish the cabinets and a tech package within the units. Overlooking an expansive ±68-acre lake, the property was designed with quality finishes and an impressive amenity package that includes two large pools, two clubhouses and oversized dog park. With its central Broward location and access to the surrounding roadways, the property provides residents quick commutes to the major employment centers in South Florida.
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Under Contract
33 West
376 Units
6300 SW 24th Place
Davie, FL  33314
Type: Conventional
Posted: 4/21/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present 6375 West Irlo Bronson Highway (the "Property"), a 76.84-acre development site located in The Orlando MSA. The offering represents a generational opportunity for a developer to build a truly unique and impactful project that will transform the Orlando MSA.

The Property bears a Commercial Tourist(CT) zoning designation, which is primarily intended for intense tourist-related housing, commercial and recreational, and entertainment uses. The CT zoning designation has only two restrictions, no industrial uses, and a maximum residential density of 80 units per acre.

The Property benefits from its location on the northeast corner of the intersection of Interstate 4 and W Irlo Bronson Memorial Highway (Highway 192), providing easy access to Orlando’s major employment and entertainment destinations. The nearby Tourist Corridor Office submarket is home to 9.8 m.s.f of office space and features major corporate users including Lockheed Martin, Darden Restaurants, Wyndham Destinations, Visitana, and Houghton Mifflin Harcourt. Additionally, the Property is within 10 minutes of over 8.0 m.s.f. of retail and restaurant space and is adjacent to Disney’s sprawling 25,000 acre campus supporting over 77,000 employees.

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6375 W Irlo Bronson
76.84 Acres
6375 W Irlo Bronson Highway
Kissimmee, FL  34747
Type: Land
Posted: 3/24/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Biscayne 112 (the “Property”)– a recently completed 8-story mid-rise with 402 apartment homes strategically positioned along Biscayne Boulevard in Miami. The property is adjacent to the affluent communities of Miami Shores and Indian Creek which feature multimillion dollar homes and offers views of Biscayne Bay. Biscayne 112 was developed with the highest commitment to quality and represents a new standard for apartment living. The property features a mix of 22 floorplans with an average unit size of 884 square feet with expansive amenities that caters to a wide array of renter profiles. Its location along the Biscayne corridor provides access to downtown Miami/Brickell and Aventura which provide a mix of employment, retail and nightlife. It also approximately three miles from the pristine beaches of Miami and will be walkable to a brand new grocer that is about to be developed 200 feet from the property.
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Biscayne 112
402 Units
11200 Biscayne Blvd
Miami, FL  33181
Posted: 3/11/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present a value-add investment opportunity to acquire the 340-unit Blue Isle, located in Coconut Creek Florida. The property features a mid of one- and two-bedroom units spread across 21+ acres for a low-density site plan of only 16 units per acre. Over the past 10 years, Blue Isles has received an infusion of capital invested into the property including the full renovation of 21 units. With only 9% of the units renovated, the property is perfectly positioned to implement a significant renovation program on the remaining units and increase rents with premiums in excess of $300 per month.

Located in Central Broward, Blue Isle is uniquely positions with access to most of South Florida’s top employment markets. Residents are only minutes away from Florida’s Turnpike and I-95, providing quick commutes to major employment markets such as Boca Raton (17.7M SF), Cypress Creek (8.2M SF), Sunrise/Plantation (12.7M SF) and the Fort Lauderdale CBD (10.1M SF).
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Under LOI
Blue Isle
340 Units
5100 West Sample Road
Coconut Creek, FL  33073
Posted: 4/5/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire BLUME (the “Property”) – a boutique, Class-AAA, 100-apartment high-rise community located adjacent to downtown Coral Gables and its famed Miracle Mile. Developed in 2019 and owned by 37 Gables Property LLC, an affiliate of Greystone, the Property has large floorplans - almost 900 square feet - with a mix of lofts, one-, and two-bedroom units, along with 6,191 square feet of ground floor retail.

The Property provides an exceptional location with proximity to jobs, dining, and nightlife within downtown Coral Gables. Within a one-mile radius of the Property there is 8.9 million square feet of office space. Blume is offering is a generational opportunity to acquire a new construction, Miami-Dade luxury high-rise apartment community with a unique boutique feel, only moments from the center of its most affluent and economically robust city.

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Under LOI
Blume
100 Units
1501 SW 37th Avenue
Miami, FL  33145
Posted: 5/3/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Centre Lake, a transit orientated, incoming producing, development site. Situated on 11.1-acres, the site is adjacent to the Golden Glades Multimodal Transportation Facility and is currently improved with 234-units. The property is part of an areawide rezoning effort that, upon approval, will increase the "as of right" density to 125 units per acre. An additional 25% density bonus can be achieved by incorporating workforce housing or making a “contribution in lieu” payment.

EXISTING IMPROVEMENTS

Built in 1986, Centre Lake Apartments is a 234-unit single-story, villa-style property. The property is 94% occupied with below market rents. There is $640,000 of loss-to-lease revenue upside potential to be realized by pushing all the rents to market. Market rents are readily attainable of $1,300 for studios; $1,500 for one bedrooms and $1,925 for two bedrooms; 31 units (13%) are currently renting at or higher than these market rents. Assuming all units are at the respective market rents, there is $640,000 in loss-to-lease before capital enhancements. Current ownership has upgraded three units. New ownership can chose to implement a value-add program and receive $150 per unit rent premiums over the market rents which would add another $420,000 in upside income. All one and two bedroom units (69% of all units) have washer and dryer hookups in place.

DEVELOPMENT OPPORTUNITY

The Centre Lake property is positioned within an area that is being considered for up-zoning that would increase the site’s density potential to ± 1,733 units or about 156 units per acre. In September 2022, the Miami-Dade County Commission is scheduled to review a large area rezoning application that would dramatically increase the residential density potential of the N.W. 7th Avenue corridor, including the Centre Lake property, by including it in the North Central Urban Area District (“NCUAD”). As part of the NCUAD, the property will be designated “RM-Core” allowing up to 15 stories and a residential density of up to 125 units per acre "as of right." A density bonus of up to 25% can be achieved by participating in the County’s Workforce housing program, bringing estimated potential density to over 1,700 units. In addition, due to Centre Lake’s proximity to the new Golden Glades Multimodal Transportation Facility, existing bus stops and the Golden Glades Tri-Rail Station, it is eligible for a parking reduction of up to 30%.

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Centre Lake
234 Units
15754 NW 7th Avenue
Miami, FL  33169
Type: Conventional
Posted: 8/22/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Core Link at Douglas (the “Property”) – a 312-unit, 22-story, FGBC Silver (pending) class-AAA highrise adjacent to the Douglas Road Metrorail station and Coral Gables’ esteemed Merrick Park neighborhood. A Phase II sister tower, the 421-unit Cascade will deliver in late summer 2022 and further enhance the master-planned living experience of residents with the addition a 22,000 square foot Milam’s Market on its ground floor.

Strategically positioned at the nexus of four mature and affluent neighborhoods, the Property’s highly desirable combination of high-rise Biscayne Bay views, asset quality, expansive amenities, walkability, and TOD access in this coveted submarket have attracted superb resident demographics with average household incomes near $250,000. Core Link at Douglas represents a rare opportunity to acquire a newly completed, transit-oriented, class-AAA high-rise in one of the highest barrier-to-entry and most affluent submarkets in Miami.
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Under Contract
CORE Link at Douglas
312 Units
3060 SW 37th Avenue
Miami, FL  33133
Posted: 3/28/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present a value-add investment opportunity to acquire Heron Landing, a 144-unit community featuring 100% two-bedroom units. The property features an expansive average unit size of 1,053 square feet with a unique unit mix of all two-bedroom units. Built in 1988, the property is perfect positioned for new ownership to implement a significant value-add renovation program as well as an opportunity to enhance the unique amenity spaces.

Located at Pine Island Road & Commercial Boulevard, the property is perfectly situated just minutes from the Sawgrass Expressway, allowing for quick commutes to the other major thoroughfares throughout Broward. This will allow residents to easily commutes to the area's major employment centers including Sawgrass Corporate Park, Plantation, Cypress Creek, Boca Raton and Downtown Fort Lauderdale.
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Under Contract
Heron Landing
144 Units
5280 NW 88th Avenue
Sunrise, FL  33351
Type: Conventional
Posted: 2/17/2022
Cushman & Wakefield is pleased to present the opportunity to acquire Lake Cecile Townhomes, a 72- unit, concrete block townhome rent community located in Kissimmee, Florida (the “Property”). The Property was built between 2009 and 2014 and consists of nine buildings with oversized townhome layouts averaging 1,643 square feet totaling 36 three-bedroom and 36 four-bedroom units. The Property’s amenity set includes resort-style pool, clubhouse/leasing office, and basketball court, which is a rarity for boutique townhouse communities. Lake Cecile is available below replacement cost. The property offers immediate upside through eliminating 1) loss to lease and 2) value add improvements; Loss to Lease • In place rents are under market. The property has consistently operated at 100% occupancy due to the low rents. In place effective rents are $1,446 or $0.88 per square foot. Market rents are $1,800 for three bedroom and $2,000 for four bedroom townhomes with a blending market rent of $1,900 or $1.16 per square foot. There is over $454 per unit per month or $390k per year in loss-to-lease upside by moving rents to current market levels. Value Add • The property provides excellent value-add upside opportunity. Implementing a value-add program on the 72 units at an estimated cost of $10,000 per unit can provide $200 per unit in additional rental upside totaling over $170,000 in income upside.
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Under Contract
Lake Cecile TownHomes
72 Units
4750 Everglades Circle
Kissimmee, FL  34746
Posted: 5/10/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Marina Island (the "Property"), an entitled 179.62-acre waterfront mixed-use development site uniquely positioned along the North Bay of Florida’s world-renowned Emerald Coast, 17 minutes north of Panama City.

Buyers have an exceptional opportunity to acquire a waterfront master planned community with scale and deep-water access with an existing 500’ x 500’ “T” dock. The initial phase of Marina Island, encompassing +/-110-acres, is entitled for up to 2,600 residential units, 150 hotel rooms, 550,00 s.f. of commercial space, 10-acres of school space, and 400 marina berths.

The boater-friendly project fronts North Bay and features over 25,000 linear feet of waterfront along North Bay providing residents and visitors easy access to Saint Andrews Bay and the Gulf of Mexico. The Property benefits from its location within 30-minutes of Northwest Florida Beaches International Airport, Panama City Beach, Tyndall Air Force Base, Gulf Coast Regional Medical Center, Ascension Sacred Heart Bay Hospital, Florida State University - Panama City, and Gulf Coast State College. Additionally, Marina Island is within 15-minutes of a vast array of retail amenities including multiple grocery stores, big-box retailers, and a variety of restaurants.

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Marina Island
   
1 Marina Island Boulevard
Lynn Haven, FL  32444
Posted: 5/5/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Milagro Coral Gables, a 237-unit midrise community located in downtown Coral Gables, Florida. Originally built in 2013, Milagro offers the opportunity to implement a significant value-add program including hard surface flooring in the bedrooms, new white cabinetry, quartz countertops, tiled backsplash and new plumbing and light fixtures. Over the last few years, Milagro has benefited from an infusion of capital invested including new exterior paint, upgraded clubhouse and leasing office and renovated pool deck. Milagro is perfectly positioned to implement this renovation program and compete with the new, high-end product in the submarket.

Milagro has one of the most preeminent locations in all of Coral Gables. Situated in the heart of Coral Gables, Milagro is among the most walkable sites in the region boasting a near-perfect 96 Walk Score. Just steps away is the iconic Miracle Mile, the cultural and business hub for Coral Gables with top-tier dining, retailers and Class-A office space. Milagro’s location in Downtown Coral Gables provides residents with an all-inclusive live-work-play environment that compares to Downtown Miami and Brickell alternatives.
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Milagro Coral Gables
237 Units
2263 SW 37th Avenue
Miami, FL  33145
Type: Conventional
Posted: 9/20/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire One Park Place (the “Property”) – a 20-unit condominium community with an additional 10,664 square feet of ground floor retail space located in Lake Park, Florida. The property was built in 2018 and features 20 condo-quality oversized units that feature high ceilings, hard flooring, modern kitchens, in-unit washer/dryer and large patios/balconies. The property was built with the intent to sell units as individual condos. No units were ever sold and ownership controls 100% interest in the property. The property also features 10,664 square feet of unfinished ground floor retail area that allows the new owner to generate more than $260,000 in additional rental revenue. The property is currently 100% occupied and has maintained a 95%+ occupancy over the past few years. With in-place rents averaging only $1,655 per unit or $1.51 per square foot, there is at least $480 per unit upside potential by simply eliminating the loss-to-lease, and moving rents to market. The property is located along Park Avenue in Downtown Lake Park.
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One Park Place
20 Units
801 Park Avenue
Lake Park, FL  33403
Posted: 8/29/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Oak Enclave – a 420-unit, low-density midrise multifamily development in institutionally coveted Miami-Dade County. Oak Enclave was completed in 2022 and, through its exceptional market reception, is on pace to stabilize in early 2023. The Property sits on over 13 acres of land that presents an oasis like setting with uniquely rare green space and mature native canopy in new midrise construction. Oak Enclave was built with highly efficient well-appointed units that help allow rents to be attainable to a broader section of the professional population compared to competing luxury properties. Paired with the Property’s highway and Tri-Rail connectivity, which allow for shortened commutes to the region’s top employment centers, Oak Enclave represents an exceptional choice for renters that will become increasingly coveted as the Miami MSA continues to expand.
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Resia Oak Enclave
Offers Due:  Thursday, September 29, 2022
420 Units
2301 NW 167th Street
Miami Gardens, FL  33056
Posted: 8/23/2022
Cushman & Wakefield, as exclusive advisor, is pleased to present a value-add investment opportunity to acquire the 119-unit Shamrock of Sunrise, located in Sunrise, Florida. The Property features a unit mix dominated by two-bedrooms making it an ideal value-add candidate to complement new and incoming infrastructure in the area. Built in 2003, the property is well-position for new ownership to implement a significant in-unit renovation program as well as further upgrade the property amenities. Further, the project’s location, just minutes from the Sawgrass Expressway and Florida’s Turnpike, allows for easy commutes to both Central Broward and downtown Fort Lauderdale’s major employment centers including Sawgrass Corporate Park, Midtown Plantation and Cypress Creek.
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Under Contract
Shamrock of Sunrise
119 Units
4001 N. Pine Island Road
Sunrise, FL  33351
Type: Conventional
Posted: 3/30/2022