Colliers' John Gerlach Team Wins CREW Tampa Bay Excellence Award
The Gerlach Team honored with the Sales Transaction Excellence Award
By: Colliers International Tampa Bay
The Gerlach Team earned the award for their work on the sale of Castille at Carillon, a Class A office portfolio located at 400 and 450 Carillon Parkway in St. Petersburg that sold to Feldman Equities for $18.2 million.
Larry Feldman, Mack Feldman, Chris Ross, Jonathan Schneider and Santiago Bartolome of Feldman Equities were also honored.
"We're thrilled to be acknowledged for our work on this high-profile sale," said Gerlach, Executive Managing Director, Investment Services at Colliers International Tampa Bay. "Feldman Equities saw an opportunity to expand its office portfolio with Castille at Carillon, and we were pleased to help put together a deal that worked for all involved."
Castille at Carillon's two buildings are connected by a breezeway and parking garage, a rare feature in Tampa Bay area office real estate. Tenants with long-term leases include Edward Jones, Electronic Data and DexYP, and occupancy at the time of sale was 94.6%.
Feldman Equities and its joint venture partners collaborated with outside investors through the CrowdStreet Marketplace, a crowdfunding platform, to acquire the property. The seller was Straits Financial Services, LLC and Straits Holdings, LLC.
"The crowdfunding aspect made this a particularly interesting deal," said Gerlach. "The concept allows investors to raise their equity without an institutional partner, and brings a much broader base of investors into the commercial real estate fold."
The team was presented the 2019 Sales Transaction Excellence Award at the CREW Tampa Bay Excellence Awards gala on November 21. CREW Tampa Bay proudly celebrates the standout achievements and leadership exhibited by CREW members and other commercial real estate professionals at the annual awards ceremony.
CREW Tampa Bay is part of CREW Network, the industry's premier networking coalition.
About Colliers International Group Inc.
Colliers International (TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. To learn more about how we accelerate success visit corporate.colliers.com, Twitter: @Colliers or LinkedIn.