What’s Up In The Real Estate Market…

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Boca-based Rosemurgy Properties acquires new assets

Rosemurgy Properties recently acquired two new retail assets. One is a 14,750-square-foot CVS Pharmacy located at 4191 West Indiantown Road in Jupiter. The second a 2,150-square-foot Starbucks Coffee at 2209 SW Gatlin Boulevard in Port St. Lucie that opened in Feb. 2018.

Patrick Nutt of Calkain Companies provided brokerage services for both locations.

“We are pleased to add two new national credit-worthy tenants to our portfolio,” said Alex Rosemurgy, CEO, Rosemurgy Properties. “Both locations will do well in the years to come.”

Lang Realty to launch Lang TV

Lang Realty has announced plans to launch Lang TV,  a lifestyle real estate channel, that will stream 24/7.

The channel, which is set to launch in September, will feature agents, real estate, lifestyle activities, interior design, country club living and more.

“As marketing platforms continue to evolve, this innovative format is designed to provide our agents with a competitive advantage in connecting with potential home buyers, sellers, other agents and local businesses throughout South Florida,” said Scott Agran, president of Lang Realty.

Produced by BYL Network, Lang TV will stream on Smart TV’s and online from any internet connection around the world.  The channel will broadcast throughout Lang’s 11 offices and online at www.langrealty.com that reaches over 140,000 unique visitors each month.

You will be able to view the channel at http://www.langrealty.tv.

Silver International Realty adds new agent

Broker and owner of Silver International Realty Christel Silver has hired real estate agent Jose Antonio Fernandez.

Fernandez is a Chilean born tennis player and coach. He is the third generation of tennis professionals. His grandfather, Armando Ibarra, was one of the first tennis Pros in Chile. His mother, Carmen Ibarra, was Chilean No. 1 Player for 15 years and 4 times South-American Champion. His Uncle Patricio Cornejo was a top Professional Player and Davis Cup finalist.

Fernandez played on the ATP tour for 12 years, reaching a career-high rank of 202 in 1991. During this time, he was a member of the Chilean Davis Cup team (1986-1992). In 1979, he had the privilege to win the Orange Bowl World Championship for Juniors.

After retiring from the ATP Pro Tour, he started his coaching career focusing on the human inside of the tennis player. In his 20 plus years as a coach, he spent 15 years as Director of Tennis at one of the most prestigious clubs in Germany. After that he created SPORTmind© where he aspired to develop players from the inside out. He also had the privilege of coaching Steffi Graf, as well as working to develop the maximum potential of many promising juniors. Recently, Mr. Fernandez was selected to act as Official Agent for the Rafa Nadal Academy by Movistar.

Now, he is dabbling in real estate.

“Due to his international background he is fluent in Spanish, Portuguese, German, English and he has some knowledge of French and Italian. Because of the fact that he is currently living in the Sunshine State, he decided to help his friends in their search for investment properties in the region,” Silver said.

NXT Capital closes $43 Million loan to refinance Delray Station

NXT Capital recently closed a $43 million first mortgage to refinance Delray Station, a 284-unit, Class-A multifamily property located in Delray Beach.

Delray Station is located one mile east of downtown Delray. Community amenities include a resort-style pool with private cabanas, clubhouse with game room and demonstration kitchen, 24-hour fitness center with an interactive yoga studio and an outdoor kitchen for private use.

NXT Capital’s Real Estate Finance group primarily serves experienced real estate investors. It provides non-recourse first mortgages of $10 million to $75 million for major-market properties with initial DSC greater than 1.0X. NXT Capital provides structured financing solutions through its Real Estate Finance and Corporate Finance groups, originating transactions on a national basis.

13th Floor Homes acquires 110 acres in Delray Beach for Avalon Trails

13th Floor Homes, the homebuilding division of 13th Floor Investments, recently acquired 110 acres of land for the development of Avalon Trails, a 55+ age-restricted community in West Delray Beach.

The company purchased the site from Marina Lakes Golf LLC for $5.4 million.

The new community will redevelop the property into an active adult community with 521 residential homes in an island-like setting surrounded by lakes and natural buffers.

The project, which received unanimous approval from Palm Beach County commissioners,  is expected to break ground this year with pre-construction sales launching toward the end of 2018.

Avalon Trail’s site plan restricts homebuilding to approximately 50 percent of the property’s developable land, instead allowing for more green space and community improvements such as lush lakes, rich landscape buffers, and a 2.4-mile fitness trail surrounding the community.

Avalon Trails will contain three distinct residential models – single family homes, villas and multifamily residences with prices expected to range from the $300,000s to $500,000s.

Avalon Trails will include a state-of-the-art, professionally managed clubhouse with features such as resort-style pools, card rooms, exercise equipment, business centers, billiards areas, and much more. Other community amenities will include tennis and pickle ball courts, bocce ball, over 2 miles of landscaped walkways and trails, lakefront park areas and community security.

Avalon Trails marks the builder’s fourth golf course repositioning project. Recent completions include Central Parc, a 253-single-family-home community in Tamarac which sold out a within 2 years of its sales launch, Manor Parc, a sister community comprised of 239-single-family-homes, and Hidden Trails, the firm’s third development that is comprised of 214 homes. The developer is currently in the approval process for seven additional repositioning projects.

To learn more about the project please visit www.avalontrails.com.