Stiles Property Fund I, a $25 million property fund launched in 2011, was a discretionary value-added real estate fund that enabled the company to take advantage of market opportunities as they are presented. Now successfully closed, SPF I allowed the company to react more quickly and efficiently to real estate market opportunities that fit Stiles’ business model.

Through the fund, Stiles acquired seven quality retail and office properties throughout South Florida. SPF I focused on existing distressed office and retail real estate in Florida with target investments in cash-flowing properties in secondary markets (core-plus) and properties with repositioning potential in primary markets (value-added). Managed by Stiles’ team of real estate professionals, SPF I was built on the Stiles business strategy, directly benefiting from the company’s established fully-integrated platform, resources, relationships and proprietary information.


SPF I Fund Approach

  • Thematic approach
    • Cyclical recovery and expansion continues to drive demand growth while supply remains limited
    • Shifts in office and retail user behavior are changing property requirements
    • Infill multi-family development is increasing demand
      in urban cores
  • Focused middle-market investment strategy
    • Reposition underperforming assets
    • Redevelop with increased intensity
    • Acquire properties in submarkets with unique and favorable dynamics
    • Fix assets in special situations
  • Stiles’ ability to capitalize on these opportunities
    • Owner-operator model
    • Experienced management team
    • In-depth local market knowledge
    • Access to deal flow and platform to execute
    • Track record of success

Investment Strategy Overview

Repositioning
Acquire well-located underutilized or under performing assets with the potential to achieve a new qualitative position in the market

Submarket Vision
Acquire quality assets in high barrier markets at discounts to replacement cost with unique and favorable submarket dynamics

Special Situations
Acquire quality assets in high barrier markets at discounts to replacement cost with unique and favorable submarket dynamics

Redevelopment
Acquire existing assets with the potential to increase intensity


  • IMG_0703

    PGA Design Center

    Three Building Portfolio, JV with BBX Capital

    Type
    Office
    Address
    11200 RCA Center Drive
    Palm Beach Gardens, Florida
  • Rendering Aspect Ratio 2550 900

    Galleria Plaza

    Type
    Retail
    Address
    The Galleria at Fort Lauderdale
    East Sunrise Boulevard, Fort Lauderdale
  • Cbre 061515 3087 2550x900 Acf Cropped 3

    Gardens Plaza

    Type
    Office
    Sq. Ft.
    88,150
    Address
    3300 PGA Boulevard
    Palm Beach Gardens, FL
  • 128 1 2550x900 Acf Cropped

    Ormond Beach Mall

    Type
    Retail
    Sq. Ft.
    106,972
    Address
    1294 Ocean Shore Blvd
    Ormond Beach, FL
  • 129 2 2550x900 Acf Cropped

    Market at Southside

    Type
    Retail
    Units
    95135
    Address
    382 E Michigan St
    Orlando, FL
  • Sunrise Corporate Plaza

    Sunrise Corporate Plaza

    Type
    Office
    Sq. Ft.
    106,648
    Address
    1300 Sawgrass Corporate Parkway
    Sunrise, FL
  • 200 East Las Olas

    200 East Las Olas

    Type
    Office Retail
    Sq. Ft.
    281,713
    Address
    200 East Las Olas Boulevard
    Fort Lauderdale, FL
  • Attachmentogelhmuw 400x300 Acf Cropped

    Human Resource Provider Brings Sunrise Corporate Plaza to 100% Occupancy

    May 1, 2019

    Stiles Realty is pleased to announce a new lease signing at Sunrise Corporate Plaza in Sunrise. AlphaStaff Inc., a Fort Lauderdale-based HR outsourcing company, signed a lease for 14,604 square feet bringing the building to full occupancy. Senior Vice Presidents Madelayne Garcia and Tom Kates handled the leasing for Stiles Realty, a division of the full-service commercial real estate firm, Stiles.

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    Stiles Property Management, Construction Divisions Win Big at Local Award Ceremonies

    November 16, 2018

    Stiles announced today that its property management and construction divisions won a combined 26 awards during a pair of local award ceremonies. Stiles Property Management and Stiles Construction are divisions of full-service real estate firm Stiles, a leading provider of third-party commercial and facility management services throughout Florida.

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    BBX Capital Real Estate and Stiles Announce the Sale of Two Parcels at Gardens on Millenia, in Orlando, Florida

    June 18, 2018

    About BBX Capital Real Estate: BBX Capital Real Estate is active in the acquisition, ownership and management of real estate development projects and investments in joint ventures. BBX Capital Real Estate also holds legacy assets previously owned by BankAtlantic consisting of loans and charged off loans and judgments. For further information, please visit http://www.bbxcapital.com/bbx-capital-real-estate/overview/ About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a diversified holding company whose activities include its approximate 90 percent ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its Real Estate and Middle Market Divisions. For additional information, please visit www.BBXCapital.com. About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE: BXG), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 211,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation. For further information, visit www.BluegreenVacations.com. Media Relations Contacts: Kip Hunter Marketing, 954-765-1329, Nicole Lewis / Elysia Volpe Email: nicole@kiphuntermarketing.com, elysia@kiphuntermarketing.com

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    BBX Capital Real Estate and Stiles Joint Venture Complete the Sale of a Building at PGA Design Center in West Palm Beach, FL

    June 15, 2018

    About BBX Capital Real Estate: BBX Capital Real Estate is active in the acquisition, ownership and management of real estate development projects and investments in joint ventures. BBX Capital Real Estate also holds legacy assets previously owned by BankAtlantic consisting of loans and charged off loans and judgments. For further information, please visit http://www.bbxcapital.com/bbx-capital-real-estate/overview/ About BBX Capital Corporation: BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), is a diversified holding company whose activities include its approximate 90 percent ownership interest in Bluegreen Vacations Corporation (NYSE: BXG) as well as its Real Estate and Middle Market Divisions. For additional information, please visit www.BBXCapital.com. About Bluegreen Vacations Corporation: Bluegreen Vacations Corporation (NYSE: BXG), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 211,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties. Bluegreen is 90% owned by BBX Capital Corporation. For further information, visit www.BluegreenVacations.com. Media Relations Contacts: Kip Hunter Marketing, 954-765-1329, Nicole Lewis / Elysia Volpe Email: nicole@kiphuntermarketing.com, elysia@kiphuntermarketing.com About Stiles: Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles maintains regional offices in Miami, Fort Myers, Tampa and Orlando, Florida, and has a development office in Charlotte, North Carolina. Stiles is responsible for more than 43 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://stiles.com or call 954-627-9300. # # #

    Project
  • New River Center Sm 1 400x300 Acf Cropped 1

    Stiles Unveils Transformed 200 East Las Olas Class A Office Tower

    May 14, 2018

    Stiles announced today that it has completed a $2 million renovation and rebranding of 200 East Las Olas, a 21-story, mixed-use office tower in downtown Fort Lauderdale. Stiles, which owns, manages and leases the property along with a global real estate investment manager, recently completed a 10-month makeover modernizing the building’s interior common areas and exterior façade. Along with its new look, the tower has been renamed 200 East Las Olas, taking inspiration from the renowned street it fronts.

  • Pga Station Building 400x300 Acf Cropped

    BBX Capital Real Estate and Stiles Joint Venture Complete the Sale of a Building at PGA Station in Palm Beach Gardens, FL

    April 2, 2018

    This press release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements and include, but not limited to, words or phrases such as "plans," "believes," "will," "expects," "anticipates," "intends," "estimates," "our view," "we see," "would" and words and phrases of similar import. We can give no assurance that such expectations will prove to be correct. Future results could differ materially as a result of a variety of risks and uncertainties, many of which are outside of the control of management. These risks and uncertainties include, but are not limited to the impact of economic, competitive and other factors affecting the Company; risks relating to the Company's ability to successfully implement its currently anticipated business plans, which may not be realized as anticipated, if at all; that the Company's investments in real estate developments, either directly or through joint ventures, will increase exposure to downturns in the real estate and housing markets and expose it to risks associated with real estate development activities and the risk that its joint venture partners may not fulfill their obligations; that required regulatory entitlements to develop the property will not be obtained timely or at all; that the property will not be developed as currently planned and that the Company's investment in this or future real estate joint ventures may not achieve the returns anticipated or be profitable. In addition to the risks and factors identified above, reference is also made to other risks and factors impacting BBX Capital detailed in the Annual Report on Form 10-K, including Item 1A. Risk Factors, which is available to view on the SEC's website, www.sec.gov, or on BBX Capital's website, www.BBXCapital.com. The Company cautions that the foregoing factors are not exclusive.

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    Stiles Property Fund Acquires Class A Office Building in Sawgrass International Corporate Park

    June 9, 2015

    Fort Lauderdale-based Stiles announced today it has closed on Sunrise Corporate Plaza, a three-story Class A suburban office property located in Sawgrass International Corporate Park in Sunrise, FL, one of South Florida’s largest and most successful business parks.

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    Stiles Property Fund and Prudential Real Estate Investors Acquire Trophy Class A Office Asset on Las Olas Boulevard in Downtown Fort Lauderdale

    December 23, 2014

    Fort Lauderdale-based Stiles and Prudential Real Estate Investors announced today the acquisition of 200 East Las Olas (also known as “New River Center” or the “Property”), a 20-story trophy Class A office tower located directly on Las Olas Boulevard in the heart of Fort Lauderdale’s bustling central business district.