What’s Up In The Real Estate Market…


Historic home to be relocated to Delray CRA campus

Plans to move a historic Delray home to the Community Redevelopment Agency property are scheduled to happen this month.

The late 1930s, single-family home was designed by the city’s first registered architect, Samuel Ogren, Sr. He is often referred to as  “Father of Delray Beach Architecture.”

Ogren designed more than 250 homes and buildings in the City between 1924 and 1950. Some of his most notable designs include the Sandoway House, the Old School Square Gymnasium, the Arcade Building and the villas in the Marina District.

The property where the home is located was recently purchased for redevelopment and the home is currently located outside of a historic district, therefore, the structure is not protected. Because preservation of historic structures is a major objective of the overall redevelopment program of the CRA, the board jumped at the opportunity.

The CRA plans to renovate the exterior to its original condition and use the building for additional office space.

Once relocated in August, the building will be within Old School Square Historic District and the CRA will apply with the local registry of historic places.

Smart technology in apartment complexes

Boca-based home security company ADT has teamed up with multifamily property management company BH Management Services to offer smart technology integration and convenience services.

Through the partnership with ADT, BH Management Services will outfit residences with ADT security, automated smart door locks, and smart thermostats.

“As leaders in property management, we know that our ability to bring innovation to the multifamily living experience and offer tenants access to the latest in smart technology and convenience from their fingertips is important,” said Joanna Zabriskie, President of BH Management. “The partnership with ADT also provides extensive efficiency on the management side to better manage and respond to maintenance requests quickly and regulate non-inhabited units to ensure they are well-kept and efficient.”

ADT’s smart technology is coupled with industry leading enterprise scale property automation software provided by Point Central. ADT monitoring services will be included as a portion of monthly rent charges. The ADT home automation systems are also voice assistant compatible, allowing tenants the opportunity to integrate additional smart home appliances into their rental units.

“The leadership team at BH Management Services is completely focused on their customers and how to bring smart technology to their industry,” said Jim DeVries, President and Chief Executive Officer of ADT. “Our partnership perfectly demonstrates how, through security and automated solutions, ADT offers both protection and convenience to tenants, as well as property managers.”

Florida Club Managers Association’s 29th Annual Seminole Region charity golf tournament and gala raises $600,000 for children’s charities

Boca West Country Club was transformed into a Cirque de Soleil-style extravaganza for 800 guests during the Florida Club Managers Association of America’s Seminole Region Charity Golf Tournament and Gala in June.

The two-day event raised more than $600,000 for a trove of South Florida children’s charities, including Special Olympics of Florida, SOS Children’s Villages Florida, Unicorn Children’s Foundation, Florence Fuller Child Development Centers, Place of Hope, The First Tee Palm Beaches, and 4KidsSouthFlorida. Since its inception the event has raised $8 million.

This year’s high-flying-themed fête featured costumed acrobats, elaborate culinary and cocktail stations, silent and live auctions. Revelers danced the night away to live music by The Headliners. The following day, over 400 participants enjoyed a charity golf tournament at the Boca West Country Club.

The winning Charity Marathon Golf Fundraiser was 4Kids South Florida raising $140,329; the winning Club Golf Fundraiser was Coral Ridge Country Club raising $27,500. Dean Adkins won the marathon golf series, who played 210 holes, followed by Josh LaPointe, who played 180 holes 42 under par.

“We were so honored to host this meaningful event for the 25th year,” said Matthew Linderman, CCM, President, COO and General Manager of Boca West Country Club. “Many of the club industry’s leading corporate partners continue to support our event year after year, all to help support children in need through local charities.”

ALINA Residences Boca Raton secures $146 million construction loan for phase one

El-Ad National Properties, an Elad Group company, recently closed on a $146 million construction loan for phase one of ALINA Residences.

Deutsche Bank and Bank Hapoalim provided financing for the project, which broke ground earlier this year.

Construction is underway on 121 luxury residences, which make up ALINA’s first phase slated for delivery in the fourth quarter of 2020.

“With construction moving along at a very rapid rate, we are happy with how well received this project has been. ALINA is generating excitement not only from South Florida locals, but also from those who live outside the area who are looking to make Boca home,” said Noam Ziv, Executive Director of Development of El-Ad National Properties. “ALINA is attracting buyers looking to live in a location that puts them in the center of everything.”

Designed by acclaimed architectural firm Garcia Stromberg/GS4 Studios, ALINA offers one to four-bedroom condominiums that showcase golf course and city views with floor-to-ceiling glass doors which open to expansive terraces.

“Boca Raton is the perfect market for our latest project, ALINA Residences, and we are excited that we were able to partner with Deutsche Bank and Bank Hapoalim to close such a sizable loan,” said Yoel Shargian, CEO of EL AD US Holding, Inc. “We are proud of the progress on this project and are elated to elevate the level of luxury in Boca Raton. ALINA Residences offers residents a Florida lifestyle with access to an array of amenities in a convenient and walkable downtown environment, moments away from golf and beaches.”

The development features over 45,000-square-feet of resort-inspired amenities including nearly an acre of outdoor green space with private cabanas, fire pits, a dedicated yoga area, outdoor kitchens, a dog park, an elite performance Fitness Center with a yoga studio, as well as his and her spa facilities. The project is located adjacent to the Boca Raton Resort and Club’s golf course, and just minutes away from dining, entertainment, art museums and the beach.

Prices for ALINA begin from just under $1 million to over $6 million. For more information, please visit AlinaBocaRaton.com.