Naples Bulk sales, Debt and Bank REO

We are a company directly in touch with FDIC, local banks, builders and other Debt/ OREO sellers. To include 1st position senior debt, Pre- foreclosure sales from the Court steps to the bank direct to you. we broker these opportunistic deals direct to you.
This blog announcement is to give SEC qualified type of buyers a notice and opportunity for qualified buyers to acquire a substantial portfolios of discounted Notes/REO properties at one time or commercial assets as debt or OREO. High end Luxury Jumbo loans/ REO homes or condos on the beach as well.

Mike Rivera,
Ferrer & Associates,LLC

Sunday, December 19, 2010

Just Sold BULK SALE - 344 Units Within a 522-Unit

Just Sold
formerly Boca Palms in Boca Raton
BULK SALE - 344 Units Within a 522-Unit Community



Thursday, December 2, 2010

336 unit Multi-Family property in Orlando Florida,Debt Sale

The asset
Class C Multifamily
a loan secured by a 336 unit Multi-Family property in Orlando Florida .The unpaid principal balance is $17,226,931 and the note purchase is being presented at $3,500,000 or $10,400/unit. An 07 appraisal valued the property at $22M. opportunities in the Multi-Family sector are hard to come by in the distressed debt arena. Usually when they are offered the tend to trade at a premium. We are very excited about this deal and feel at our price there is tremendous upside.

A broker in the Orlando market that has sold over 17 multifamily properties in 2010 totaling more than $400,000,000. Heprovided the following comparables demonstrating the current price per unit of similar multifamily properties in the Orlando market. The Waterway Apartments that recently sold for $16,944/unit, is located across the street (to the west)
from the subject. Multifamily properties are a strong asset class in the current market. One of the driving forces is the attractive financing offered by lenders such as HUD and Freddie/Fannie Mac. Terms for multifamily loans can be 4% with a 30 year amortization and an 85% to 90% loan to value.

Comps :

Apr-10 Carlton Arms 1968 291 units $8,700,000 $29,897 per unit

Jun-10 Silver Oaks 1990 320 Units $9,000,000 $28,125 Per Unit

Feb-10 Waterways 1988 360 $6,100,000 830 $16,944 Per Unit


An appraisal on file dated 01/2007 notes a value for the subject property of $22,300,000. At that time, the occupancy was 92%. It is assumed that the appraisal was used to facilitate the origination of the subject CMBS note. The valuation was based on an NOI of $1,503,377 using a cap rate of 6.75%. The cash flow table below demonstrates the strength of the asset
only 4 years ago. The sales comparables were all similar vintage with an average price per unit of $66,000 or $22,000,000. The subject asset is being offered at $3,500,000 or $10,400/unit. Property taxes have been paid up through 2009 with $107,888 due for 2010.

NOI FOR THIS ASSET: $1,850,000 AT 90%


Download link: NCND (must sign)

Mike Rivera,
Investment Real Estate Analyst
Star Capital Group
Naples Fl

954-957-3134 Office

Mike Rivera, Ferrer & Associates,LLC

Wednesday, December 1, 2010

For Sale Proven MFR buyers Only,204-unit garden-style apartment community

Daytona Beach- Class B, Class A location 204-unit garden-style apartment community located on the south side of Beville Road (FL-400), approximately 2 miles east of I-95, the area's major highway, and only two miles from Daytona Beach International Airport. The property's superb location in the heart of Volusia County is within minutes of the area's major employers, educational facilities, healthcare centers and some of the world's most famous beaches.

Info- The exteriors of the buildings were painted in 2008 and the parking lot was re-sealed. The pool was resurfaced in 2007 and the roofs were replaced in 2003. However, the property provides a “value-add” opportunity through interior upgrades. A $30 rent premium has been acheived on units with upgraded appliances. The property provides an additional opportunity through kitchen and bath cabinet renovations. Implementation of an upgrade program over the long term for all units would provide an increase in future rental revenue.

Structural Detail:

Buildings and Heights 11 two- and three-story buildings
Foundation Poured slab concrete
Exterior Walls Wood frame with stucco finish
Paving Asphalt, re-sealed in 2008
Fire Safety 11 buildings with pull stations
Roof Pitched with asphalt shingles, replaced in 2003
HVAC Each unit has a central air handler, condensing units are mounted outside each unit
Plumbing Copper
Wiring Copper

Community Amenities:

  • Barbecue Area
  • Dog Park
  • Clubhouse
  • Self Service Carwash
  • Spa/Hot Tub
  • Swimming Pool
  • Fitness Center
  • Tennis Court
  • Pet Friendly

Select Unit Amenities:

  • Walk-in Closets
  • Extra Storage Space
  • Washer / Dryer Connections
  • Central Air/Heating
  • Dishwasher
  • Screened Balcony / Patio
  • Cable TV Ready
  • Garbage Disposal
  • Refrigerator
  • High Speed Internet Access
  • Ceiling Fans
  • Handicap Accessible
  • Oversized Pantry/Laundry Room
  • Views Available – Pool, Waterfront, Lush Greenery
  • Upgraded Kitchen Appliances in Some Units

Assumable 80/20 bond financing available.

Price: TBD by Market
Units: 204
YoC: 1985
Sq Ft: 185,568
Acres: 13.00

Southwest Florida Portfolio


Inland Diversified Real Estate Trust, Inc. has purchased the Colonial Square Town Center and the Shops at Village Walk, adjacent shopping centers in Ft. Myers, FL., for about $38.4 million for a about 350,000 square feet. or 108 dollars per sq ft.
A fantastic bargain psqft for Class A NNN Retail

Cap rates in place at acquisition for Colonial Square Town Center and Shops at Village Walk were approximately 7.69% and 8.08%

The occupancy rates for Colonial Square Town Center and Shops at Village Walk were 83.3% and 71.2%.



Mike Rivera,
Investment Real Estate Analyst
Star Capital Group
Naples Fl

954-957-3134 Office

Mike Rivera, Ferrer & Associates

92-unit Palms Bulk Sale condominium Transaction Southwest Florida

Colliers International Tampa Bay on there web site announced the closing of an 82-unit bulk condominium transaction in North Fort Myers.

It was a remaining 82 lender-owned units out of 92-units at The Palms at Waters Edge condominium. The assets were acquired by a Naples based LLC for a purchase price of $4.3 million.

Colliers International Tampa Bay worked exclusively on behalf of the owner, Redus Florida Condos, LLC (Wachovia Bank), to facilitate the sale.

The property originally sold 2005 for $9.2 million. Palms at Waters Edge was built in 1974 and was substantially renovated in 2006-2007 for the purposes of conversion to condominiums.

If you are looking for a New construction Builder Close out, Broker Representation at an auction or listing feasibility analysis and a quick sale offer of your unsold product Bulk condo or Multifamily apartments. We have buyers in Canada, UK, and US Hedge funds, waiting for South West Flroda Distressed assets.

Please call Mike Rivera, CIB, ABR

Investment Real Estate Analyst
Star Capital Group
Naples Fl

954-957-3134 Office
239-775-2066 Fax
Mike Rivera, Ferrer & Associates,LLC