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Aqua Apartments and Shoppes Debut Announced

PALM BAY, Fla., Dec. 20, 2018 (GLOBE NEWSWIRE) — Northshore Development celebrated the groundbreaking of their Aqua Apartments and Retail Shoppes development, following through on Northshore’s land purchase made two years ago. The site construction began in June 2018 to clear the way for this new Downtown Palm Bay development. The developers anticipate starting lease-up next summer with occupancy as soon as September 2019. The Brevard County community will consist of 320 luxury apartment residences along North RJ Conlan Boulevard and will include new neighborhood retail shops, restaurants and local grocers. This Best in Class community will provide brand new unparalleled residential options, long awaited in the area. As the newest residential apartment development on the Space Coast, Aqua will provide a living experience that is unprecedented.

At Aqua, the residential building will offer studios, 1, 2, and 3 bedroom residences boasting classic designer finishes.  The unrivaled Aqua amenities will include a resort style pool and lounge area, private cabanas, open air Cross Training course, yoga lawn, shaded areas and zero entry water features for public/private access dog park, electric car charging stations, private garages, gated access and views across the Indian River to Melbourne Beach.

Aqua, located within the Bayfront Community Redevelopment District (BCRD) in the City of Palm Bay, is a monumental new development for the City.  It will usher in a new era of development to accommodate the rapidly growing community of the Space Coast.  The population has expanded over the past few years due to the strength of a revitalized private industry, led by Harris Corporation, Northrup Grumman, Raytheon, Embraer, Boeing, Space X, OneWeb and the multitude of engineering facilities and supporting companies that have been attracted to the area’s unique attributes.  The Space Coast has seen a rise in population that has engulfed the existing inventory of residential housing units and left a strong desire for upscale and well-located housing.  Aqua, as a first phase to the developer’s master plan, expands the area’s residential offerings.  It will seek to partner the additional phases with innovative operators and visionary developers to create a thriving live, work and play environment.

Northshore Development has partnered with the Bayfront Community Redevelopment Agency (BCRA) and a local team to create their vision and align it with the City’s overall growth plan. In addition to working with local contractors, Northshore Development is dedicated to supporting the local community.  Northshore Development also works with local investors who are participating in this catalyst project through an exclusive syndication network and platform for local residents to be engaged and invest in their community.

Franz Hanning, CEO of Northshore Development, stated, “The best way for us to include the local residents is to align ourselves directly with them. We are committed long term to the City and believe this to be a true catalyst project for the region that will help to reinvigorate the RJ Conlan Boulevard Corridor. Northshore Development believes in the future of the City of Palm Bay and we look forward to accomplishing great things working with the community.”  

Aqua will be professionally managed by Lincoln Property Company out of their Southeast region.  Lincoln is a major player in multifamily management, and currently manages 124 residential communities with over 33,000 units in the Southeast. 

About Northshore Development

Northshore Development, LLC is based in Orlando, FL with a financial office located in Palm Beach, FL. The team includes a highly visible CEO who spent 25 years as the top executive within Wyndham Vacation Ownership, a highly qualified developer with 15 years of experience with Marriot Vacation Club, and a CIO who has participated in the structuring and capital investment of over $5 billion in world class real estate assets.  

Northshore Development, LLC has a unique offering in the marketplace with senior executive leadership, development, construction management, finance and operational knowledge from the top tier of global real estate firms.

For more information about Northshore Development, LLC please visit

About Lincoln Property Company

Lincoln Property Company is headquartered in Dallas, TX and is a leader in real estate investment, construction and development in addition to property management. Founded in 1965, their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader.

For more information about Lincoln Property Company, please visit or visit for apartment listings in your area.

Photos accompanying this announcement are available at

Vice President Of Development

Adam Frocione

Mr. Frocione has a track record of more than eight years of diverse experience in institutional real estate investment management and development and has successfully completed more than $2 billion in transactions across sectors and risk / return profiles during his career. He is responsible for sourcing, underwriting, negotiating, due diligence, and closing of commercial investments and developments across the firm. He is a graduate of Stetson University with degrees in finance and applied statistics.

Director Of Acquisitions And NSD Partners

Blake A. Maher

He provides a broad range of financial and management coordination through the entire development cycle. Prior to joining NSD, Blake worked as an analyst in the Property Finance division of Doral Bank. He was responsible for analyzing potential debt investments across multiple asset classes for a national real estate platform. His primary responsibilities included cash flow analysis, debt memorandum creation and market research. He is a graduate of the University of Florida with a background in Finance and Economics, as well as a graduate of Crummer School of Business at Rollins College where he obtained his Masters in Business Administration.

Director Of Finance

James Shulterbrond

Mr. Shulterbrondt is an accounting and finance professional with over 12 years of experience in the real estate industry. Throughout his career he has served in various accounting roles of property management and construction with a unique expertise in the sectors of multifamily housing, office, and retail. His success has been primarily due to his professionalism and excellent work ethics. Mr. Shulterbrondt holds a Master of Finance degree from Webster University.

Executive Vice President Of Development

Miguel Reynaldos

Miguel A. Reynaldos has more than 30 years of commercial real estate experience, encompassing development and project management, design management, construction administration, entitlements, regulatory compliance and consulting. His diverse real estate background includes managing the development process, both as owner and on a consulting basis as owner’s representative and project types including industrial, office, educational, public facilities, multi-family residential, as well as, specialized expertise in data centers.

Chief Administrative Officer

Carol Chang

Ms. Chang has 25 years of experience providing administrative support to C-Suite professionals at prominent organizations such as Wyndham Vacation Ownership, Golf Channel, and Orlando Magic. She is best known for her professionalism, integrity, and strong work ethic.

SteelChief Investment/Financial Officer And Partner

Andrew R.

Mr. Steel has 15 years of experience managing and negotiating complex transactions in the hospitality, office and residential real estate sectors. He has participated in over $5 billion of successful real estate transactions and brings a strong background of financial expertise. Mr. Steel has worked with the top-tier of real estate development teams throughout his career including Margaritaville Holdings, The Related Group and The Carlton Group. Mr. Steel has also been a successful fintech entrepreneur with the founding of one of the first real estate fintech platforms and he brings a unique vision for creative structuring and strategic financial planning for long term success with the Northshore Development platform. Mr. Steel holds an MBA degree from Rollins College with concentrations in real estate finance and economics.

Chief Executive Officer & Managing Member

Franz Hanning

Franz S. Hanning served as President and Chief Executive Officer. Wyndham Vacation Ownership since their separation from Cendant in July 2006. Mr. Hanning was responsible for the world’s largest developer and marketer of flexible, points-based vacation ownership products. The company’s five primary consumer brands – CLUB WYNDHAM©, WorldMark© by Wyndham, Wyndham Vocation Resorts Asia Pacific. Shell Vacations Club and Margaritaville Vacation Club@ -together comprise more than 200 resort properties, representing approximately 24,000 vacation ownership units and serving more than 900,000 owner families worldwide. After retiring from Wyndham Vocation Ownership in December; 2016, Hanning formed Northshore Development to manage his property holdings in Palm Bar, Florida. He owns Palm City Investments FH, LLC which owns the 24 acres property in Palm Bay. Specialists in Commercial Real Estate Development, Investment, and Branding.