NAI Global Expands in Greece

Posted by on Nov 11, 2018

NAI Global has announced the opening of a new office in Europe, expanding their global portfolio of international offices. Athens based NAI RealAct will serve as an office in Greece, specializing in office, investment, industrial, land sales/development, multifamily and hotel/hospitality real estate.

NAI RealAct will provide a range of real estate services including valuations, property acquisitions, investment transactions consultancy, tenant and buyer representation, leasing, sales, development, project management, and real estate consulting.

NAI Global has over 400 offices strategically located throughout North America, Latin America, Europe, Africa, and Asia Pacific, with over 7,000 local market professionals, managing over 425 million square feet of property. With multiple offices in Athens and a large network of affiliate offices, NAI RealAct helps NAI Global expand their presence in an area of Europe with a rapidly increasing demand for real estate services.

“The financial climate is rapidly improving in Greece. Most financial indicators are outperforming targets, while the real estate market is entering a new era, driven by improved sales volume and stronger demand for all types of property. Take up (leasing) of commercial property is picking up and new international investors are expressing interest in our markets. The NAI RealAct team is ready to support this increasing wave for real estate services, after many years of almost no real estate development activity,” said Anna Nazou of NAI RealAct.

NAI RealAct’s team has represented a number of international clients with properties located in Greece, Cyprus, Poland, Bulgaria, Romania, Hungary, Czech Republic, Serbia, and Croatia, bringing valuable clients to the NAI Global team.

NAI Global is a subsidiary of C-III Capital Partners under the larger Island Capital Group, which falls under the portfolio of CEO and Chairman Andrew Farkas.

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IGY Marinas Complete $25 Million Renovation in St. Petersburg, Florida

Posted by on Oct 17, 2018

The $25 million renovation at Maximo Marina in St. Petersburg, Florida has been completed after redevelopment and renovations by IGY Marinas. On behalf of the owner, Bixby Bridge Capital, IGY Marinas oversaw the project including all aspects of design, redevelopment and operations since 2015.

Maximo Marina is the largest covered boat slip marina in Florida, containing covered wet slips for vessels up to 100 feet in length. Maximo Marina now features a variety of world-class amenities including floating concrete docks, a state of the art fuel dock, boat lifts, complimentary WiFi, renovated support facilities, and the opening of the new Getaway Maximo Restaurant, the largest restaurant opening in south St. Petersburg in over a decade.

“This was a complex project from a design, permitting and execution standpoint. The marina was over 50 years old and IGY took great care to ensure that this marina was redesigned to be responsive to the market and the evolving sizes of vessels both for today and for the next 50 years. IGY worked with us to ensure that all the critical customer touchpoints were addressed and that the uniqueness of the marina was maintained, all while making sound cost-benefit recommendations. IGY was able to institute a phasing plan that allowed a portion of the marina to stay open throughout construction which was very important to our customers. We are very pleased that IGY and ORION were able to deliver this project on time and under budget,” said Steven Fass, a principal at Bixby.

With the complete renovation, Maximo Marina can welcome over 200 vessels in wet slips, where 142 are covered and 58 have lifts. The marina can also accommodate an additional 88 vessels with inside storage racks, and 200 in outside dry storage racks.

IGY Marinas continues to be well-known in the industry as a leading marina operator, redeveloping and operating marinas around the world.

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Resource Apartment REIT III, Inc. Purchases The Park at Kensington, Growing Their Portfolio to Tampa

Posted by on Oct 1, 2018

Resource Apartment REIT III, Inc. has purchased The Park at Kensington, an apartment community located in the prospering and growing market of Tampa, Florida. The 204-unit community features resort-style living with a multi-level pool, newly renovated clubhouse, lakeside BBQ area, and tennis court.

The prime location of The Park at Kensington offers residents access to restaurants, retailers, banks, and over 47 million square feet of office space. Being within 15-minutes of downtown Tampa, the property is surrounded by popular entertainment destinations such as Bass Pro Shops, Dave & Buster’s and Topgolf.

In 2017, the Tampa/ St. Petersburg Metropolitan Area saw an increase in opportunities for young professionals with the addition of over 35,000 jobs. The REIT strives to purchase quality apartments in high-demand areas, with surrounding amenities that renters are looking for. The Park at Kensington, with its suburban location, is in an area experiencing fast growth in infrastructure and employment opportunities.

The REIT is sponsored by Resource Real Estate, LLC, a subsidiary of C-III Capital Partners LLC. C-III Capital is a fully integrated asset management and commercial real estate services company led by Andrew Farkas.

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