Cushman & Wakefield arranged the sale of The Nine at Central, a recently built 201-unit and 764-bed student housing apartment community located at the University of Central Florida.

The Nine at Central was sold by 908 Group and Scannell Properties and purchased by L3 Campus, a student-housing focused owner and operator with around 5,000 beds across various markets. Travis Prince, Shawn Lubic, and Victoria Marks-Vagnier of Cushman & Wakefield’s Student Housing Capital Markets team represented the seller in the transaction. The firm also brokered the sale of the land, on which the community was developed, back in 2021.

“Florida’s growth story has been a catalyst for the high demand we are seeing for student housing beds in the Orlando market. The opportunity to acquire The Nine at Central allows new ownership to benefit from this and acquire best in class product and location in a Power 5 market,” said Travis Prince, Executive Managing Director at Cushman & Wakefield.

Built in 2023, The Nine at Central is one of the area’s top housing options that provides students with superior amenities and convenient access to campus. Units are fully furnished with in-unit laundry and residents also benefit from the community’s state-of-the-art fitness center, pool with cabanas, dog park, study pods and suites, and a 24/7 coffee bar.

Former principal and founder of Bishop Beale Duncan, William D. Bishop, also known as Billy, has joined forces with industry veteran, Kyle Wood to establish the new commercial real estate company, Bishop Wood Partners.

Together, Billy and Kyle are leveraging their expertise and passion for real estate development to position Bishop Wood Partners as a prominent player in the industry. Focused on their shared entrepreneurial drive, the firm aims to introduce innovative strategies to land development and brokerage projects throughout Florida. Their commitment to excellence and delivering outstanding results to clients will distinguish Bishop Wood Partners in the commercial real estate sector.

Orlando serves as the ideal location for this dynamic partnership to kick off their new venture, and the future appears promising for Bishop
Wood Partners as they embark this new chapter in their professional journeys.

The next meeting will be:

Friday, June 10th, 2024

Doors open at 8:30AM
Meeting starts at 9:00AM
at the

Orlando Regional Realtors (ORRA) Building
1330 Lee Road
Orlando, FL 32810

(Your properties must be on TotalCommercial to be presented.)

Sponsored by the Florida CCIM Chapter Central District since May 2008
Co-sponsored by ORRA Commercial Council and CFCAR | CFCREA.

NO REGISTRATION NEEDED
Just show up ready to make some money!

We had over 70 people in April. Hope to see you there Friday!

Promote yourself, your listings and your needs!

Breakfast Provided by CFCAR

A vote on an ordinance that would temporarily stop new development applications in unincorporated regions of Orange County until a final vote on the new Vision 2050 comprehensive plan is held in the fall is anticipated later this month by the Orange County Board of County Commissioners.

During a work session on April 9, the Board of County Commissioners talked about the Orange Code update and the current countywide comprehensive plan. The Board asked planning staff to draft a "zoning-in-progress ordinance" during the meeting; commissioners will vote on it at their subsequent meeting on May 21.

If approved on May 21, the ordinance would immediately stop accepting new development applications in selected regions until the end of September, when the final vote on Vision 2050 and the Orange Code is scheduled to occur.

The ordinance will apply to new applications, and that most existing applications already submitted will not be affected. Even if the Board passes the ordinance on May 21, existing applications submitted before that date will continue to move through the review process. For months, the County has notified applications about the changes coming to the review process.

Source:  GrowthSpotter

A partnership between Royal Palm Cos. and Mattoni Group has obtained $86 million in construction financing for Tuscany Village, a 420-unit multifamily development located at 4201 W. First St. in the north Orlando suburb of Sanford.

The financing comprises $68 million in debt from a partnership between City National Bank and Abanca USA and $18 million in preferred equity from Origin Investments.

The co-developers plan to break ground on the 21-acre project in the coming weeks and deliver the property in phases by 2026.

Source:  RE Business

SRS Real Estate Partners has expanded its Orlando team with the addition of Mara Frumkin and KC Herbert who specialize in retail tenant and owner services.

“SRS continues to grow our team in Florida as well as around the country to help meet the demand we’re seeing from retailers who are looking to expand,” said John Artope, SRS Executive Vice President and Florida Market Leader. “Mara and KC have a great track record of providing exceptional client service and are great additions to our Orlando team.”

Frumkin will serve as a First Vice President focused on retail tenant and landlord representation. She brings five years of real estate experience with The Shopping Center Group and most recently with Atlantic Retail where she worked with national retailers such as The Fresh Market, AutoZone, Einstein Bros Bagels, Floor & Decor, easyvet, Jack in the Box, and V/O Med Spa.

Frumkin also specializes in landlord representation, including selling and leasing outparcels, as well as leasing ground up developments and existing shopping centers. She is a graduate of Texas Christian University and is the third generation in her family to work in retail real estate. She is very involved in the retail industry’s ICSC organization and was nominated for the ICSC Next Generation Leadership Network in 2022.

Herbert joins SRS as an Associate focused on tenant representation. She was previously at Atlantic Retail as a broker, leveraging her expertise in research and data analytics to optimize her work. She is experienced in AI integration in relation to retail and real estate, as well as marketing and social media management. Herbert has an MBA from Rollins College where she also completed undergraduate degrees in business administration and music performance.

NAI Realvest, a prominent commercial real estate firm and a long-term member of NAI Global, announced its strategic expansion into Polk County.

With a legacy spanning over 35 years of exceptional service in the Orlando market, NAI Realvest is extending its presence to include Volusia, Lake, Orange, Osceola, Seminole, and now Polk County, solidifying its position as a leading authority in Central Florida's real estate market.

This expansion marks a significant milestone in NAI Realvest's journey, enhancing its ability to serve clients across a broader geographical area. With an unwavering commitment to excellence, NAI Realvest continues to redefine industry standards and exceed client expectations, setting the benchmark for success in the region.

Patrick Mahoney, Business Director of NAI Realvest, expressed enthusiasm about the expansion, stating, "We are thrilled to embark on this new chapter of growth and opportunity as we expand our territory to include Polk County. We look forward to leveraging our decades of experience and local market knowledge to drive value and success for our clients in Polk County and beyond."

On April 12, CCIM Central District's Commercial Real Estate Deal-Making Breakfast attracted a record crowd.

Those in attendance enjoyed an informative update about The Packing District, presented by Iris Segal, Director of Strategic Alliances with The Packing District.

The event was co-sponsored by CFCAR | CFCREA.

The next Deal-Making breakfast is scheduled for May 10, 2024, from 9:00 AM to 12:00 pm  at the ORRA Building at 1330 Lee Road in Orlando. 

No registration is required - just show up ready to make some money!

Breakfast will, again, be provided by CFCAR.

Hope to see you there!