Senior Managing Directors Roberto Pesant and Jaret Turkell, along with Directors Omar Morales and Yoav Yuhjtman of Berkadia South Florida, led the transaction on behalf of the seller, MAG Real Estate & Development of Delray Beach.
These projects not only represent significant opportunities for Bollig and his clients but also signal the continued upward trajectory of St. Lucie County as a desirable destination for development.
Jaime Sturgis brokered all three deals, which have a combined sale price of $8.6 million.
The acquisition marks Ciprés’ second major development project in South Florida and represents a significant expansion northward for the Miami-based company.
He will be responsible for the firm’s Miami, Fort Lauderdale, Boca Raton, and West Palm Beach markets and oversee more than 450 professionals across the South Florida region.
The initial phase of the project includes the construction of a 200,000-square-foot building, with plans for two additional buildings to follow. This phase can accommodate tenants seeking spaces as small as 50,000 square feet.
The loan was provided by MetLife and provides for full-term interest-only and a 36 month term.
The proposed project is slated to include 734 apartments, 150 hotel rooms and 300,000 square feet of commercial, self-storage space.
Proposals must be submitted no later than 3 p.m. EST on June 28, 2024.
Weaver guided 13 separate sellers through all aspects of the transaction and completed the entire process in just four months.
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