The Geneva Group Hits Another One Out of the Park!
Dec 2, 2020
LAKELAND, Fla. - December 2, 2020 - (Newswire.com)
Deerfield Beach FL-based real estate investment firm Geneva Group is pleased to announce the sale of the iconic Citizens Bank and Trust building located in Downtown Lakeland, FL. Geneva purchased the property in 2017 and executed a significant value add plan to reposition the asset by renovating the common areas and creatively maneuvering the tenant base to a more conducive mix for a mid-rise office building. The firm owned the property for almost 3 years with the sale in Q4 2020 making it the firm's second disposition of the year and the first disposition in the Lakeland, FL Market.
The Citizens Building is 6 stories and over 71,000SF situated on over 3 acres. Geneva essentially gutted the main lobby and common areas, invested in energy-efficient upgrades and added security gates to the 2 story parking garage but left a new owner the opportunity to undertake additional value add improvements and take the asset to another level.
"The investment exceeded our investor's expectations and we continue to look for value add assets in Lakeland," says Jarred Elmar, the firms Managing principle. "Lakeland is a market that, in the last several years, is discussed independently and not merely part of an Orlando or Tampa conversation. We remain bullish in this market and still own office and industrial properties in the area. We thank Douglas Mandel of the Mandel Group and Cory Petcoff of Barron Realty for doing an excellent job on the marketing and sale of this deal."
The Geneva Group is a leading real estate investment and development firm specializing in acquiring and managing commercial properties for their own portfolio.
The Geneva Group specializes in value-add and opportunistic strategies in U.S. Real Estate with a current focus on industrial, retail and office. Their mission is to deliver investment opportunities that provide strong, stable current returns while generating long-term capital appreciation for the firm and their investors.
Press Release Service by Newswire.com
Original Source: The Geneva Group Hits Another One Out of the Park!
More News
Tulfo flags alleged favoritism in NHA's housing projects
Senator Raffy Tulfo on Tuesday flagged alleged "palakasan," or patronage in National Housing Authority (NHA) housing projects, particularly for calamity and tragedy victims.
Unmatched EJ Obiena shatters Asian Games record to defend throne
EJ Obiena delivers the Philippines' third gold medal in the 2026 Asian Games as he breaks his own record to repeat as men's pole vault champion
Cinema '76 to close doors after nearly 11 years
Cinema '76 Film Society and Cinema '76 Café are set to close their doors after nearly 11 years of bringing together Filipino film lovers, independent filmmakers, and moviegoers.
COA finds ‘unverifiable’ beneficiaries in DepEd’s SHS voucher program
The dozens of unverifiable beneficiaries of the senior high school voucher program resulted in an overpayment of P938,000, according to state auditors
Poa denies agreeing with Panelo over 'lokohan' remark
Lawyer Michael Poa, spokesperson for Vice President Sara Duterte's defense team, on Tuesday denied agreeing with Duterte's spokesperson Paolo Panelo, who described as a joke the Senate impeachment court's decision on the basis for determining the voting threshold for her conviction.
/file/attachments/orphans/anwarlokee_227315.png)
What does this country want? Anwar questions focus on Loke's exit over corruption
PM praises minister's good work, says no apparent reason to step down.
Victoria Bossong claims 800m bronze in Asian Games debut
The fastest in the heats, Victoria Bossong finishes third in the women's 800 final as she delivers the Philippines' second athletics medal in the 2026 Asian Games
Baste says he wouldn't have okayed GenCorp contracts if he had known VP Sara link
Davao City Mayor Sebastian Duterte said he would not have let the city government to award P33 million worth of contracts to GenCorp.if he had known that Sara had a business interest in it.
Senate ratifies bicam report on Philippine Geriatric Center
The Senate on Tuesday ratified the Bicameral conference committee report regarding the National Specialty Center for Geriatric Health, which is one of the priority measures of the Marcos administration.
9,450 DepEd-funded classrooms unbuilt from 2021 to 2025 -- COA
The Commission on Audit (COA) found that the Department of Education (DepEd) failed to build 66% of the classrooms funded from 2021 to 2025 under the Basic Education Facilities Fund (BEFF).
Jaime T. Cruz: The business partner of Sara, Baste, and Pulong Duterte
Businessman Jaime T. Cruz also had close ties with former president Rodrigo Duterte, who once offered him the post of PhilHealth president and CEO
COA flags DepEd issuance of vouchers to deceased students, dropouts
The Commission on Audit (COA) flagged the Department of Education"s (DepEd) overpayment of P938,000 in vouchers to students who had already dropped out or, in some cases, were deceased.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.