Commercial real estate brokers on the Alabama gulf coast
Bellator Commercial works with investors and institutions in the purchase and disposition of real estate. Bellator Commercial is managed by David Milstead, Managing Senior Director, and includes ten directors that work in Hospitality, Multi-Family, Office, Industrial, Retail, and Land.
Bellator Real Estate & Development is a full service real estate company that specializes in real estate brokerage including development along the Gulf Coast, primarily in Mobile and Baldwin Counties. Bellator closed over $373 million in transactions in 2015, making it the fastest growing real estate company in the market. The company has grown to over 150 total agents in nine offices across the Gulf Coast in just 5 years.
Nathan Cox is the CEO and owner of Bellator Real Estate & Development and manages over $100M in real estate assets held in various investment groups. Nathan is a member of the General Partnership of the Gulf Coast Opportunities Fund, LP (“GCOF”) and manages the real estate assets for the Fund.
The Gulf Coast Opportunities Fund, LP (“GCOF”) is a private equity real estate fund formed to acquire distressed real estate along the Gulf Coast of Alabama, Florida and Mississippi. The Fund focuses on raw land and developed real estate in Baldwin County, Alabama. The GCOF raised over $60,000,000 in less than 120 days in the fall of 2012 before closing out the fund to new investment. Assets purchased by the fund currently span from Panama City, FL to the Eastern Shore of Baldwin County, AL.
Minolta-QMS, Inc., a wholly owned subsidiary of Minolta Co., Ltd., is an innovative developer, manufacturer, and supplier of document printing solutions. Minolta-QMS, a NYSE co., used David Milstead for Corporate Services work relating to a portfolio of approximately 37 offices across the country, including subleases in Mobile.
Rollins, Inc., through its wholly owned subsidiary, Orkin Extermination Company, provides termite and pest control services to residential and commercial customers. Rollins, a NYSE co., used David Milstead to analyze new and existing markets and negotiate leases in several different states across the country.
Private Business, Inc. provides electronic commerce solutions that help community banks to provide accounts receivable financing to their small business customers. Private Business Inc., a Nasdaq co., formerly Towne Services, Inc., used David Milstead to manage its expansion needs growing from 3500sf into a 12,000sf office space, and consequently, a 42,000sf office space in Atlanta in a two year time frame.
Bellator Commercial’s Hospitality Group represented by Grant Reaves and David Milstead advised the buyer in the acquisition of the Suburban Extended Stay Pensacola, FL. The hotel consists of 122 extended stay rooms with interior corridors. The Suburban Extended Stay benefits from its close proximity to Pensacola’s Navy Air Station. CW Capital was the seller of the Suburban Extended Stay and was represented by HTX Realty. CW Capital acquired the hotel through foreclosure.
Bellator Hospitality was in search of a hotel for the buyer to purchase as part of a 1031 tax exchange. The buyer purchased the asset from CW Capital through an online auction. With the assistance of Bellator Hospitality, the buyer successfully won the auction for $4,700,000. The terms of the auction required the hotel to be closed within 45 days of the signed purchase and sales agreement which required Bellator Hospitality and the buyer to work diligently together to close the transaction in the required time period.
Bellator Commercial’s Hospitality Group represented by Grant Reaves and David Milstead represented the seller in the disposition of the Wingate by Wyndham in Lafayette, LA for $4,725,000. The Wingate Lafayette is an 82-room hotel constructed in 2010. The hotel caters to leisure travelers coming to the Lafayette area as well as business travelers coming to the nearby oil fields.
The Wingate was listed for sale prior to the fall in oil prices in the spring of 2014. The fall in oil prices slowed down the economy in the area and greatly affected the revenue of the Wingate. Bellator Hospitality was faced with the challenge of selling a hotel in a rapidly declining market while still giving the seller a strong price. Grant Reaves and David Milstead were able to locate a hotel buyer from Texas that was comfortable with the cyclical nature of the oil market and negotiate a strong deal for the Seller. The transaction closed on December 15, 2015.