Fortune International Management Sells Miami Hotel

Miami Beach, Florida- Net Lease Properties news for today is coming from the Hotel Business in Miami Beach. The Seville Hotel has been purchased by the famous hotelier Ian Schrager and Marriott for $57.5 million. Marriott has plans to redevelop the hotel into a boutique brand called Edition. The Seville Hotel is a 12-story, 400-room commercial real estate property. The Hotel has The 278,547 square-feet and was built in 1955.

The previous owner of this Commercial Real Estate was 2901 Beach Ventures, which consisted of two equal partners, Lionstone Group and Fortune International Management. A partner with Arnstein & Lehr, lead the negotiations for the Sellers Group regarding the underlying loan with FirstBank Puerto Rico that resulted in the sale of the Seville Hotel to Marriott and hotelier Ian Schrager. The purchase price for the Hotel was for $57.5 million. We believe this was a Short Sale with almost $10 million being dismissed from the first mortgage value.

The famous hotelier, Ian Schrager, helped restart South Beach with his launch of the Delano hotel 15 years ago. Ian Schrager left Miami Beach a few years ago with the sale of his interest in the Morgans Hotel Group.

It is rare to find any net lease properties in Miami Beach. We do see a Retail Property, Free Standing Building as a Net Lease Investment with 10+ years left on the lease, in Miami. The Net Lease Property is marketed as a 8.50% Cap Rate.

Net Lease Properties & Non Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Major Hotels or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Property Funding to purchase a new property.

Commercial Real Estate News For South Florida

Palm Beach Gardens, Florida - Net Lease Properties news today centers around commercial real estate in south east Florida. First of all, a retail strip center in Palm Beach Gardens sold. This retail strip center has sold for $740,000. It is known as Clocktower Plaza as is located at 4203-4241 Northlake Boulevard, just west of the I-95 exit. This strip center sits behind a Gas Station at Northlake Boulevard and Keating Drive.
Reports are that this retail strip center was on the market only 22 days before going under contract.
We are not seeing too many Net Leased Properties for sale, in this area. An Office Building
Strip Center, Net Lease Investment with 3 years left on the lease, is being marketed in Lake Park, Florida.

For next bit of Commercial Real Estate News, we travel down to Pembroke Pines, Florida. Pembroke Pines sits west of Fort Lauderdale and Hollywood, not far from Miami Beach Commercial Real Estate investments.
The Taft Retail Center sold for $734,000. The Taft Retail Center is located at 1591 NW 77th Way in Pembroke Pines and is 6,700 square feet. The seller was a local private trust and sold the property to a foreign investor.
The property was built in 1973, and is currently 100% leased. The leases are to three long-term tenants. Taft Market & Deli leases a portion of the property as does Angie's Pet Spa & Boutique, and Bitter Blue Lawn & Garden.
This area currently has a net leased property, that is an Office Building being marketed.

Net Lease Properties & Financing

If Shopping Centers, Net Lease Properties or Apartment Buildings are of interest to you then contact us, HERE. We can also assist you with your Commercial Real Estate Mortgage and Net Lease Funding to purchase a CVS, Walgreens, Target, Publix or other Net Lease property.

Tere Blanca, a top commercial real estate executive in Florida

Miami Beach, Florida - Net Lease Properties information is from Miami Beach today. Tere Blanca, a veteran of the South Florida commercial real estate industry, has formed a new firm that will provide advisory and transaction services for property owners and users. The new, Miami-based entity, dubbed Blanca Commercial Real Estate Inc., will launch on April 1. Blanca most recently served as senior managing director & branch manager for Cushman & Wakefield of Florida. They have increased their leasing and management portfolio from 3.5 million to 10 million square feet under her leadership.
Joining Blanca in the new firm will be Danet Linares, previously with developer Foram Group. At Foram Group she served as senior vice president & director of real estate services. Linares will fill the role of executive vice president with Blanca Commercial.

Net Lease Properties & Non Recourse Loans

If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, Major Hotels or Net Lease Properties then contact us, HERE. We can also assist you with your Non Recourse Loan and Net Lease Property Funding to purchase a new property. We have seen a few Net Lease Investments with Steak n' Shake as tenants with a decent cap rate.


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