In Q1, overall sales in South West Florida decreased 38% compared to the prior year. Over the last 12 months, the price per square foot for office property is down 33%, multifamily is down 30%, industrial is down 63% and retail is down 31%.
Data from LoopNet's Q1 2010 Investment Market Reports
Mike Rivera
239-770-6257
Mike Rivera Ferrer and Associates
Showing posts with label Notes. Show all posts
Showing posts with label Notes. Show all posts
Wednesday, May 19, 2010
Thursday, April 8, 2010
2 Sales Naples and Estero Market! Multi family & Bulk builder close out Estero fl, Naples FL
2 Sales Naples and Estero Market!
The Increase in SW FL vulture funds and private equity groups hovering for distressed assets is way up. Real estate firms with access to capital and significant experience, expertise and development capacity are well-positioned to take advantage of the opportunities that these distressed assets and debt present. They are able to buy properties with a variety of financial structures, cash and both senior debt holds, and create value through repositioning the assets.
1
Just SOLD 4/2/2010
Mid Two million Range Median Market Value 80k per unit. MLS Listed low 90K as of 3/28/2010
I was personally involved in the inspection and due diligence, and under contract 2 times with 2 different buyers. One of the best Bulk sale opportunity on the west cost of Fl.
Price was $47K per unit or just about $2MM for the 43 units.
This is the 3rd bulk condo sale to close in the Southwest Florida market.
South west Florida is Naples (Collier county) Fort Myers( Lee county) and Charlotte county and Sarasota county.
I have access to these assets such as the recently closed
2. Jamie May may strikes again.
A resort-style pool is one of the amenities at Bermuda Island Apartments.
Jamie May of the JBM multifamily capital brokered the sale of Bermuda Island Apartments, a 360-unit, luxury multifamily community located in Naples. The community is situated on approximately 23 acres on Vanderbilt Beach Road, across from the Ritz-Carlton Golf Resort Hotel and Tiburon Golf Course. It consists of 12 three-story buildings with a combination of one-, two- and three-bedroom residences, with units averaging 1,046 square feet in size.
Amenities at the community include a grand plantation-style clubhouse that features a formal dining hall, a business center, a 2,000-square-foot fitness center and a screened outdoor lanai with ceiling fans and built-in grills. A resort-style swimming pool overlooks a 3-acre lake. The property was initially planned as a condominium conversion but now operates as an apartment community. Occupancy at the community was 90 percent at the time of the sale.
What hot for Multi family & bulk sale opportunities?
Potential to take down Class A
504-bed student housing facility in Estero, FL, (Ft Myers) across Florida Gulf Coast University. The loan was transferred to special servicing in June 2008. The borrower replaced the onsite manager in the spring 2008 and was running an aggressive leasing campaign with deep concessions to increase occupancy for the 2008-2009 school year. The property is currently 80% leased as of Sept. 4, which does not support the debt service and the borrower is unwilling to support the property.
West Coast of Fl Bulk sale -
43 Units High Rise Oceanfront (Gulf) Boat docks, Builder close out Bank held
Guesstimate asking $50M
Recent Comp sales- 1.6MM to 5.8MM 0-3 months old
Cal me for an NCND
and a quick tour will go fast.
Beachfront High Rise 23 units remain 50% of listed price close out. Bonita, Ft Myers beach, Florida sub market.
Smaller opportunities:
90 Units High Rise riverfront luxury units TBD
300 unit High rise
60
46 3/3 Condos N
83 Units Naples FL Potential Chinese drywall TBD take an assignment of contract
15
Want more? I have it Bank direct or Private equity held.
Mike Rivera,
Investment Real Estate Analyst
Star Capital Group
Naples Fl
1 239-770-6257
Fax 1 239-775-2066
Mike Rivera Ferre & Associates,LLC
.
http://www.naplesassetsales.blogspot.com
http://www.Naples-Foreclosure.com
Wednesday, March 17, 2010
South Fl Naples,Miami,Sarasota Condo sales way up, Bulk sales Increase
South Fl Naples,Miami,Sarasota Condo sales way up, Bulk sales Increase by Mike Rivera
Sunday, January 10, 2010
Ft Myers and Naples Fl Beachfront REO homes penthouse sales
www.BEACH-FRONT.US
Ultimate 2nd homes destinations in Southwest Florida. Bonita Springs and Naples attracts visitors and new residents from around the world having emerged as one of Florida's most dynamic coastal communities. Known as the "Gateway to the Gulf" - Bonita Springs encompasses the world renowned Barefoot Beach, Bonita Beach, Estero Bay, Black and Hickory barrier islands, and Lover’s Key state park.Naples Beach areas Included Vanderbilt Beach, Seagate, Coquina Sands, Pelican Bay,Olde Naples,Bay colony, Royal Harbor,Marco Island.
Ultimate 2nd homes destinations in Southwest Florida. Bonita Springs and Naples attracts visitors and new residents from around the world having emerged as one of Florida's most dynamic coastal communities. Known as the "Gateway to the Gulf" - Bonita Springs encompasses the world renowned Barefoot Beach, Bonita Beach, Estero Bay, Black and Hickory barrier islands, and Lover’s Key state park.Naples Beach areas Included Vanderbilt Beach, Seagate, Coquina Sands, Pelican Bay,Olde Naples,Bay colony, Royal Harbor,Marco Island.
Most of theses deals are short sales Bank OREO or it could be a debt sale.
Subscribe to:
Posts (Atom)