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The Allen Morris Company, and its partner, the Alaska Permanent Fund Corporation, advised by L&B Realty Advisors, has closed on an $83 million construction loan and commenced construction on its signature Bayside Sarasota development. The loan was provided by Kennedy Wilson. Longboat Group will oversee leasing and management once complete.
Located in Sarasota, Florida, one of the State’s fastest growing areas, Bayside Sarasota is the initial phase of a broader mixed-use project in the Rosemary District, one block off of Sarasota Bay. This phase includes a 253-unit luxury rental community, along with 2,000 square feet of ground floor retail, and a future 96-unit tower with bay views that will commence later in the year.
The Allen Morris Company commenced construction on the project, with an anticipated completion date of Fall 2026. Brasfield & Gorrie is the General Contractor.
The resort-inspired community features a mix of one, two and three-bedroom residences with open floor plans, chef-inspired kitchens, and contemporary finishes, both within the units and the building itself.
The Dwell-designed building features 50,000 square feet of private amenities including a rooftop pool deck, Michelin recognized restaurant located in the lobby, state-of-the-art fitness center with a covered yoga terrace, 24-hour concierge, and is pet friendly. The private courtyard will feature a 60-foot tall native ficus tree and outdoor private dining for residents. It is a true coastal community, adjacent to Sarasota’s waterfront and designed with both indoor and outdoor amenities to take advantage of its location. FlickMars, a luxury hospitality firm, is the interior designer.
The development’s idyllic location within the City’s Rosemary District, known for its artisan cafes, antique shops and art galleries adds to the community’s already-strong appeal. Bayside Sarasota sits one block away from the city’s $200 million The Bay Park Redevelopment project which has completed its first phase and will commence on the second phase this year. The project includes the redesign of the waterfront park and performing arts center. The City’s Bay Park Redevelopment project, which includes a recreational pier and enhanced waterfront access, among other amenities, makes Bayside Sarasota one of Florida’s most desirable residential communities.
“We’re excited to partner with APFC on another best-in-class residential asset. With Bayside Sarasota, we will deliver an unparalleled residential experience with a resort-style rooftop pool, a Michelin recognized restaurant and thoughtfully appointed condo-quality residences,” says Spencer Morris, President of The Allen Morris Company.
“We are thrilled to expand our long-standing relationship with The Allen Morris Company as well as build new ones with APFC and Longboat. This dynamic location is well positioned to benefit from the positive growth and improvement happening across Downtown Sarasota and we are excited to play a role in the continued progress of Sarasota” adds Kennedy Wilson Debt Investment Group head, Thomas Whitsell.
The Allen Morris Company’s developments provide residents with the opportunity to indulge in modern living spaces in proximity to unique and evolving locations, such as Sarasota’s Bayside. The company has active developments throughout Florida and Georgia.
For additional information visit www.allenmorris.com
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About The Allen Morris Company:
The Allen Morris Company is one of the largest real estate firms in the Southeast U.S., with more than 90 development projects and specializing in office buildings, multi-family residential, hotels, mixed-use developments, leasing and brokerage, and property management. With offices in Miami, Coral Gables, Orlando, and Atlanta, The Allen Morris Company has served its business and investment clients for more than 65 years. For more information, please visit www.allenmorris.com, or follow us on Instagram at @allenmorrisco or Facebook at www.facebook.com/TheAllenMorrisCompany.
About the Alaska Permanent Fund:
The Alaska Permanent Fund Corporation (APFC) is the largest sovereign wealth fund in the United States, with nearly $80 billion of assets under management. The APFC seeks to create positive economic impact and long-term value for its Alaskan constituents, the companies they invest in, and the partners with whom they work. They achieve this by partnering with extraordinary managers, prioritizing deal flow, and providing stable, long-term flexible capital to help companies scale and grow. For more information visit https://apfc.org
About L&B Realty Advisors:
L&B Realty Advisors is an employee-owned, SEC-registered real estate investment advisor offering real estate investment management services to institutional investors. Founded in 1965, L&B has earned a track record of successfully acquiring, operating, developing and selling institutional quality office, retail, industrial and multifamily properties. L&B manages a national portfolio of approximately 30 million square feet of properties valued in excess of $10 billion. For more information visit www.lbrealty.com.
About Kennedy Wilson:Kennedy Wilson is a leading global real estate investment company. The company owns, operates, and invests in real estate through the balance sheet and through an investment management platform in the United States, United Kingdom, and Ireland. Kennedy Wilson primarily focuses on multifamily and office properties as well as industrial and debt investments in the investment management business. For more information on Kennedy Wilson, please visit: www.kennedywilson.com.
Berkshire Hathaway HomeServices Utah Properties Serves as Exclusive Listing Brokerage
The residences will afford owners and guests alike a one-of-a-kind residential experience
AMS Hospitality, the hospitality arm of The Allen Morris Company, has launched luxury resort villa sales, Atara, Autograph Collection Residences in St. George, Utah.
Berkshire Hathaway HomeServices (BHHS) Utah Properties serves as the exclusive listing brokerage for the resort’s development. Locally owned and operated since 1976, BHHS Utah Properties has been a leading force in the growth of Utah’s real estate market, with $5.13 billion in sales in 2021.
The 14-acre Atara resort and residences will feature a blend of 138 hotel rooms and suites, along with 136 impeccable for-sale villas. The stunning one-, two-, three- and four-bedroom villas will range in price from $800,000 to more than $2 million and feature oversized balconies, fireplaces, and mountain views. The highly anticipated groundbreaking is October 2023, with estimated completion in August 2025.
Located within Desert Color, southern Utah's premier 3,400-acre master-planned community, Atara mirrors the community’s vision of connectivity and sustainability, maximizing the area’s natural attributes. It is an oasis of a home that helps nurture a meaningful and well-rounded lifestyle. “Atara offers the perfect product for this new demographic who is comprised of people who like to do all the kinds of things we do here -- hiking, biking, cycling, climbing, Ironman World Champions to name a few – and now they can make Atara their basecamp while they partake in activities throughout St. George and Greater Zion, and have access to all the luxury amenities and services when they come back to the resort, “ says Kevin Lewis, Director of Greater Zion Convention and Tourism.
The residential and resort community includes an open and elegant restaurant, with live-fire kitchen, indoor-outdoor dining, and a bar. The traditional American fare restaurant will offer distinctive seasonal specialties and source local ingredients as possible. A wellness-focused menu will also be offered to enhance the lives of residents and guests. Residents will have the option of in-residence dining from the restaurant to enjoy the luxury of having high-caliber cuisine in their own homes. Memorably-delicious options will also be served at the poolside café and bar.
The property features approximately 12,000 square feet of function space and over two acres of outdoor venue options for events such as weddings that will be complemented by the astounding backdrop of Utah’s natural beauty.
In keeping with Desert Color’s emphasis on the environment, Atara will feature a full-service spa incorporating the area’s scenic beauty and natural surroundings. This will be a place for guests to undergo transformative experiences. Treatment options will specifically focus on guests’ well-being and comfort. The spa will be one-of-a-kind in southern Utah, with unparalleled indoor and outdoor holistic wellness and sports performance treatments. The property is ideally located in St. George, which boasts Utah’s most temperate climate. There are endless opportunities for exploration nearby. There are 13 resort and championship golf courses in St. George, all of which are within 20 minutes of the property. Atara also provides easy access to five internationally famous national parks. It is only a short visit to The Grand Canyon, a 45-minute drive to Zion, and a 15-minute ride to Snow Mountain Canyon.
Atara goes above and beyond to fulfill the dreams and desires of the outdoor enthusiast. It will feature a market focused on grab-and-go supplies, a boutique outfitter, and a bicycle rental and repair shop. Atara will offer a unique concierge program for guests and residents, with services that include single-day to multi-week outdoor adventures within St. George and across southern Utah. The concierge program will work in tandem with the onsite outfitter to provide guests and residents with all their outdoor needs: guides, gear, bicycles, off-road vehicle rentals, and specialty packed meals for travel.
“At Atara, what is offered is a perfect balance of well-being and adventure,” says Spencer Morris, President of The Allen Morris Company. “Guests can experience a guide-led sunrise hike, indulge in a world-class dining experience, or reset in the wellness-focused spa. No doubt both owners and guests will be positively impacted and transformed by Atara.”
“We are thrilled to announce our representation of Atara, Autograph Collection Residences in St. George, Utah,” says Steve Roney, Chief Executive Officer & Owner of Berkshire Hathaway HomeServices Utah Properties. “We are committed to reaching our clients’ real estate goals and providing them with exceptional real estate opportunities.”
For reservations or additional information, visit https://www.ataradesertcolorresidences.com/residences.
Berkshire Hathaway HomeServices Utah Properties Serves as Exclusive Listing Brokerage
The residences will afford owners and guests alike a one-of-a-kind residential experience
AMS Hospitality, the hospitality arm of The Allen Morris Company, has launched luxury resort villa sales, Atara, Autograph Collection Residences in St. George, Utah.
Berkshire Hathaway HomeServices (BHHS) Utah Properties serves as the exclusive listing brokerage for the resort’s development. Locally owned and operated since 1976, BHHS Utah Properties has been a leading force in the growth of Utah’s real estate market, with $5.13 billion in sales in 2021.
The 14-acre Atara resort and residences will feature a blend of 138 hotel rooms and suites, along with 136 impeccable for-sale villas. The stunning one-, two-, three- and four-bedroom villas will range in price from $800,000 to more than $2 million and feature oversized balconies, fireplaces, and mountain views. The highly anticipated groundbreaking is October 2023, with estimated completion in August 2025.
Located within Desert Color, southern Utah's premier 3,400-acre master-planned community, Atara mirrors the community’s vision of connectivity and sustainability, maximizing the area’s natural attributes. It is an oasis of a home that helps nurture a meaningful and well-rounded lifestyle. “Atara offers the perfect product for this new demographic who is comprised of people who like to do all the kinds of things we do here -- hiking, biking, cycling, climbing, Ironman World Champions to name a few – and now they can make Atara their basecamp while they partake in activities throughout St. George and Greater Zion, and have access to all the luxury amenities and services when they come back to the resort, “ says Kevin Lewis, Director of Greater Zion Convention and Tourism.
The residential and resort community includes an open and elegant restaurant, with live-fire kitchen, indoor-outdoor dining, and a bar. The traditional American fare restaurant will offer distinctive seasonal specialties and source local ingredients as possible. A wellness-focused menu will also be offered to enhance the lives of residents and guests. Residents will have the option of in-residence dining from the restaurant to enjoy the luxury of having high-caliber cuisine in their own homes. Memorably-delicious options will also be served at the poolside café and bar.
The property features approximately 12,000 square feet of function space and over two acres of outdoor venue options for events such as weddings that will be complemented by the astounding backdrop of Utah’s natural beauty.
In keeping with Desert Color’s emphasis on the environment, Atara will feature a full-service spa incorporating the area’s scenic beauty and natural surroundings. This will be a place for guests to undergo transformative experiences. Treatment options will specifically focus on guests’ well-being and comfort. The spa will be one-of-a-kind in southern Utah, with unparalleled indoor and outdoor holistic wellness and sports performance treatments. The property is ideally located in St. George, which boasts Utah’s most temperate climate. There are endless opportunities for exploration nearby. There are 13 resort and championship golf courses in St. George, all of which are within 20 minutes of the property. Atara also provides easy access to five internationally famous national parks. It is only a short visit to The Grand Canyon, a 45-minute drive to Zion, and a 15-minute ride to Snow Mountain Canyon.
Atara goes above and beyond to fulfill the dreams and desires of the outdoor enthusiast. It will feature a market focused on grab-and-go supplies, a boutique outfitter, and a bicycle rental and repair shop. Atara will offer a unique concierge program for guests and residents, with services that include single-day to multi-week outdoor adventures within St. George and across southern Utah. The concierge program will work in tandem with the onsite outfitter to provide guests and residents with all their outdoor needs: guides, gear, bicycles, off-road vehicle rentals, and specialty packed meals for travel.
“At Atara, what is offered is a perfect balance of well-being and adventure,” says Spencer Morris, President of The Allen Morris Company. “Guests can experience a guide-led sunrise hike, indulge in a world-class dining experience, or reset in the wellness-focused spa. No doubt both owners and guests will be positively impacted and transformed by Atara.”
“We are thrilled to announce our representation of Atara, Autograph Collection Residences in St. George, Utah,” says Steve Roney, Chief Executive Officer & Owner of Berkshire Hathaway HomeServices Utah Properties. “We are committed to reaching our clients’ real estate goals and providing them with exceptional real estate opportunities.”
For reservations or additional information, visit https://www.ataradesertcolorresidences.com/residences.
IT IS THE FIRST DEVELOPMENT OF A MULTIFAMILY ROLLOUT AT XENTURY CITY
Urban living will find a new place in Osceola County. The Allen Morris Company, one of the largest diversified real estate firms in the Southeast, and Xenel International U.S.A., a diversified company and long-term landowner, announce residences at Xentury City, a $75 million multifamily development located in Osceola County.
The project will transform the current site into a thriving multifamily destination. Groundbreaking for the project is scheduled for Q1 2022 and is slated for completion in Q2 2023.
The 293,000 square feet of space will contain five garden-style buildings, 311 residential units, a leasing center and world-class amenities throughout. The project site is located adjacent to the Gaylord Palms Resort and Convention Center.
“The Osceola corridor has seen some of the largest net in migration in the nation generating demand for quality housing,” said Spencer Morris, Chief Investment Officer of the Allen Morris Company. “The Residences at Xentury City are the first phase of a larger mixed-use vision that will transform this area within Osceola County into a dynamic live, work, play neighborhood with first-class dining, entertainment and residential offerings.
Dwell Design Studio, an award-winning architecture, planning and interior design firm, and Shim Studios as interior designer will spearhead the project.
Xentury City is close to all the theme parks including Disney World and Universal Studios and has developed a major transportation network to access the site. The site is also 30 minutes from Downtown Orlando and 20 minutes from Orlando International Airport.
For additional information visit www.allenmorris.com.
The Allen Morris Company Approved to Develop Six-Acre, North Druid Hills Parcel for Multi-Family Development
$100 million development will include Class A+ 337 rental apartments and ground floor retail
ATLANTA (May 6, 2021) – The Allen Morris Company, one of the largest diversified real estate firms in the southeast, today announced approval by the DeKalb County Board of Commissioners for a $100 million mixed-use community development in the rapidly growing neighborhood of North Druid Hills in Atlanta.
The best-in-class project will feature 337-Class A+ units in a five-story residential building with 2,000 square feet of ground floor retail, including a coffee shop and wine bar connected to a pocket park with shaded outdoor seating and games. Additional amenities will include an elevated pool deck with private cabanas and trellised grilling areas, state-of-the-art gym, event space, game room, and onsite dog park.
Groundbreaking for North Druid Hills project is scheduled for this Fall of 2021 while its estimated completion date is slated for Spring of 2023.
Because of its proximity to the Children’s Healthcare of Atlanta (CHOA) and Emory University medical campus, the new multi-family residential community in North Druid Hills will meet a housing demand from healthcare workers and university employees. Additionally, both CHOA and Emory University are currently expanding – a key indicator that hundreds of jobs will are coming to the neighborhood in -the near future.
“We are very pleased to further our Atlanta focus now to the wonderful North Druid Hills neighborhood,” said W. Allen Morris, Chairman and CEO of The Allen Morris Company. “We are always looking at the future when we choose a location to create communities that people will call home. This North Druid Hills development will raise the bar for the area and those that want to live a short distance from work.”
“As a firm, we are believers in the rising future of Atlanta and are particularly excited by the long-term employment and wage growth story within the North Druid Hills corridor,” adds Spencer Morris, EVP and Chief Investment Officer of The Allen Morris Company. “In this project we will deliver a best-in-class product targeting the neighborhood’s growing employment hub.”
The Allen Morris Company’s developments provide residents and tenants alike with the opportunity to indulge in modern living spaces in close proximity to Atlanta’s vibrant epicenters. The North Druid Hills project will be the company’s 87th development. It currently also has several developments in process within Atlanta including the nationally acclaimed and recently completed Star Metals District in West Midtown.
For additional information visit www.allenmorris.com
The Allen Morris Company (AMCO), one of the largest diversified real estate firms in the Southeast, announced the $47.5 million refinancing of Maitland City Centre in Maitland, Fla. Maitland City Centre is a mixed-use community located just north of Orlando, consisting of 244 residential apartments and 33,500 square feet of retail space.
The new loan was provided by New York Life Insurance Company and replaced the existing construction loan provided by Truist and TD Bank. The refinancing allows ownership to continue executing its business plan on this Class A asset. Walker & Dunlop assisted the partnership with the refinancing process.
“We are thankful to Truist and TD Bank for their confidence in The Allen Morris Company, which allowed us to develop this new city center for the City of Maitland, and are equally pleased to begin a new relationship with New York Life Insurance Company,” said W. Allen Morris, Chairman & CEO of The Allen Morris Company. “One of the interesting aspects of the new reality in which we are all engaged is that this entire process happened virtually, without a single in-person meeting. That takes great confidence on behalf of all parties to ensure success, and for that we are grateful to everyone involved.”
The six-story Maitland City Centre is the first urban live/work community in the Orlando suburb of Maitland, and is located at the crossroads of Maitland’s City Hall and the new pedestrian-friendly Independence Lane, providing everyday conveniences that establish the project as not only a lifestyle, but also a “live-work-play” and walkable destination. As a Transportation Oriented Development (TOD), it also incorporates the City Bike Trail on Independence Lane, and the SunRail Station is a block away.
Spanning a three-acre city block that includes prime retail and restaurant space, Maitland City Centre is surrounded by vibrant sidewalks and an enviable mix of trendy dining and retail concepts which provide a true sense of community.
“We are extremely pleased to forge a relationship of this magnitude with New York Life Insurance Company,” added W.A. Spencer Morris, CIO & Executive Vice President for The Allen Morris Company. “Maitland City Centre is an ideal example of our organization’s skill across multiple platforms, from land acquisition to conception to ultimate delivery of a compelling project.”
