Distressed Asset Essentials Part 2: Improving Value and Making Your Exit

August 30, 2021

By Westcott Toole, Senior Regional Manager, Property Management As a lender, it can be burdensome to assume control of distressed commercial real estate assets that go into foreclosure. Many of these assets come with significant deferred maintenance, challenging tenants and financial and operational deficiencies that are now suddenly your responsibility. However, when working with an…

Franklin Street’s Ricky Ostrofsky Promoted to Director of Retail in Jacksonville

JACKSONVILLE, FL (August 30, 2021) – Franklin Street is pleased to announce Ricky Ostrofsky, an accomplished retail leasing specialist in our Jacksonville office, has been promoted to Director of Retail Services. Ostrofsky, who joined Franklin Street in 2016, focuses on representing landlords of retail properties throughout North Florida in their leasing needs. He helps manage…

Franklin Street Arranges Acquisition of Luxury New Construction Apartment Community in Fort Lauderdale

Terra Equity Group acquired the asset from Defined Companies FORT LAUDERDALE, FL (August 30, 2021) — Franklin Street has arranged the acquisition of a 22-unit luxury apartment community in northwest Fort Lauderdale for $7 million, or approximately $318,181 per unit. The Class A property, at 3050 NW 68th St., was completed in 2020 and completed…

Community Pool Safety this Labor Day Weekend

As Labor Day approaches, the safety of tenants and staff is of utmost importance for Multifamily Commercial Property Owners. To reduce the risk of drownings and life-altering injuries to tenants, Franklin Street recommends taking the necessary steps to reduce the possibility of this risk. It is the property manager and owner’s responsibility to provide a…

Multifamily Insurance Market Update

Multifamily owners likely know we are currently in the most challenging insurance market in recent Commercial Real Estate history. Well into 2021, conditions in the overall market have not improved and are continuing to tighten. The hard market is substantially impacting the multifamily sector and portfolios with significant losses and low insurable values. However, It…