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Sean Dreznin successfully closes the sale of 2 additional apartment buildings in St. Petersburg, FL

Sean Dreznin from Ian Black Real Estate successfully closed the sale of 2 additional apartment buildings in St. Petersburg, FL

Queen Anne Apartments in St. Petersburg, FL, SOLD by NAI Tampa Bay's Multi-Family team, Kyle Keelan and Sean Dreznin

Queen Anne Apartments in St. Petersburg, FL, SOLD by Sean Dreznin

Sean Dreznin simultaneously closed the purchase and sale of The Casa Grande Apartments and the Queen Anne Apartments this past week.

Led by Sean Dreznin, the 22-unit Casa Grande and the 18-unit Queen Anne seamlessly closed.

The buyer was completing a 1031 exchange and the sellers had enhanced and stabilized the property before bringing it to market.

Please contact Ian Black Real Estate and the multi-family team for all your Apartment and Investment Goals!

Sean Dreznin – (941) 961-8199 sean@ian-black.com

SOLD * SOLD * SOLD - We can sell yours, just ask Sean Dreznin or Kyle Keelan @ NAI Tampa Bay

SOLD * SOLD * SOLD – We can sell yours, just ask Sean Dreznin

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List of current Condo Developments in Sarasota, FL getting started in 2014-2015

List of current Condo Developments in Sarasota, FL getting started in 2014-2015

Rendering of Aqua 280 from www.aqua280.com, via Sean Dreznin's Blog

Rendering of Aqua 280 from http://www.aqua280.com, via Sean Dreznin’s Blog

The Queue in Downtown Sarasota
Click here for access to The Q home page

The Jewel
Bayfront Sarasota Luxury Condominiums
Click here for more information

The SanSara
Downtown Sarasota with limited views of Bayfront
Click here to view the designer’s website

One88 on Golden Gate Point
Coastal Condominium Residences
Click here to pre-register on developers site

Aqua280
Located on Golden Gate Point, this luxurious complex looks out at the Bay and Ringling bridge
Click Here to view page

Rendering of the Vue at Gulfstream and US 41 in Sarasota, FL from the website of the Kolter Group, via Sean Dreznin's Blog

Rendering of the Vue at Gulfstream and US 41 in Sarasota, FL from the website of the Kolter Group, via Sean Dreznin’s Blog

The Vue
On Sarasota Bayfront
Currently in a pickle about additional traffic impact with the Ritz and others.
Click here to visit the website

Other developments forthcoming…

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San Marin Apartments in Tampa, FL Sell for $9M

San Marin Apartments in Tampa, FL Sell for $9M

By Justin Sumner

Ceebraid-Signal Corporation acquired the San Marin multifamily property at 3501 W. Waters Ave. in Tampa, FL from Conix, Inc. for $9 million, or about $47,000 per unit.

The 193-unit, 24-building, 192,505-square-foot, garden-style apartment complex was built in 1972 on 8.2 acres in the Greater Egypt Lake – Leto North submarket of Hillsborough County. It features a mix of studios, one-, two-, and three-bedroom units and townhome-style apartments with asking rents between $499 and $929 per month. At the time of sale, the asset was 75 percent occupied.

The acquisition was funded with a new $15.35 million loan provided by private institutional lender LMREC III Holdings IV, Inc.

For the complete article, CLICK HERE <—-====

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TerraCap Mgmt Corp Acquires Sarasota Office Bldg

TerraCap Mgmt Corp Acquires Sarasota Office Bldg

By David Davis
March 5, 2014

Pic via CoStar, presented by Sean Dreznin

Pic via CoStar, presented by Sean Dreznin

88,000-SF Investment Trades for $11.5M

TerraCap Management Corp., a Florida-based company, acquired the 10-story office building at 1 S. School Ave. in Sarasota, FL from Y Associates Ltd and the Sarasota Family YMCA for $11.5 million, or about 130 per square foot.

The 88,178-square-foot, 4-Star office building was constructed in 2000 on 2.4 acres in Sarasota County. The asset is almost 80 percent leased to multiple tenants, and includes a four-story covered garage with 240 stalls.

As part of the sale, the buyer assumed an existing $7.82 million loan secured by the property with a 5.5% fixed rate through October 2015.

For other news and articles in our market FOLLOW THIS LINK <—-====

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Google invests $50 million in online property broker Auction.com

Google invests $50 million in online property broker Auction.com

By John Gittelsohn and Brian Womack

Bloomberg News

Google’s new investment arm is buying a minority stake in Auction.com, the largest U.S. online real estate auction firm, for $50 million.

The investment by Google Capital, which expects to spend about $300 million this year to back late-stage companies, is the first in a real estate venture for the unit of the Mountain View-based Internet search firm. The deal values Auction.com at $1.2 billion, the Irvine,-based company said Wednesday in a statement.

“Like eBay kind of drove transparency and created a marketplace for hard-to-find items, Auction.com is creating transparency in part of the real estate market,” David Lawee, head of Google Capital, founded last year, said in a telephone interview. “Here, you can go on to a site and see thousands of properties that are listed for sale that would be great investment opportunities.”

For complete article, CLICK HERE <—–=====

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Longboat Key Commission considers $1.5 million town center property purchase tonight

by: Kurt Schultheis | Managing Editor

The Longboat Key Town Commission will consider purchasing a parcel of land behind the Longboat Key Publix for $1.5 million tonight at its regular meeting to jumpstart a town center concept.

In a Feb. 26 memo published with the commission’s regular meeting agenda, Town Manager Dave Bullock proposes the commission consider a contract for 2.8 acres of vacant property behind SunTrust Bank on Longboat Key.

The property, owned by Longboat Key resident Joe Wolfer, is the site of the former MODA on Longboat Key luxury condominium project that was nixed in August 2008.

Wolfer, who has the property listed for sale, is willing to sell the parcel to the town for $1,508,000 if the commission agrees to buy the property. Bullock proposes using money from the town’s land acquisition fund to purchase the property.

A majority vote of at least five commissioners is needed to purchase the property.

Wolfer, who has already signed the contract that was submitted for the commission’s review, has another buyer for the property and is only willing to sell the land to the town if the commission agrees to the contract tonight at its 7 p.m. regular meeting at Town Hall. If the town doesn’t act on the contract “immediately,” he’s been informed that Wolfer will sell the parcel to another buyer.

CLICK HERE to see full article

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40+ units for sale in Ft. Myers, FL ** Located across from Golf Course ** This will sell!

40+ units for sale in Ft. Myers, FL ** Located across from Golf Course ** This will sell!

Property sits on 1.4 +/- acres of land

Great unit mix
(1) 3/2
(14) 2/2
(9) 2/1
(18) 1/1
(1) studio

Property encompasses an entire city block

Contact Sean Dreznin at NAI Tampa Bay by email sdr@naitampabay.com or by phone (941) 961-8199 to request a confidentiality agreement and get details on the offering.

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