Saturday, October 5, 2019

Space at Orlando - Sanford Airport Commerce Park in Tight Supply as Tenants Stay, Expand and Boost Local Economy
Orlando, FL and Sanford, FL--- The Commerce Park at Orlando-Sanford International Airport has a tight supply as strong demand for industrial space there is seen by NAI Realvest who handles leasing at the airport and recently closed on multi year leases for over 55,000 square feet. 

Paul P. Partyka,
Paul P. PartykaCCIM, MICP, partner at one of the region’s most active commercial property brokers negotiated lease agreements on behalf of the Sanford Airport Authority with tenants who believe their own growth is due in large part to growth at the airport and its convenient location.     
National brand Toro AG, providing agriculture supplies and equipment renewed their lease of 42,600 square feet of warehouse and manufacturing space; 

 Skimmer Skiffs boat manufacturer renewed a 6,116 square foot facility while waiting for a larger building to become available at the airport;  

Enterprise Leasing Company of Orlando, LLC renewed its lease of 2,440 square feet due to its strong business growth and Florida Clay Art, an artisan tenant for decades, renewed its lease of 4,020 square feet.

 “The growth and diversity of the businesses at the Orlando Sanford Airport , and low vacancy at this industrial hot spot is welcome news for the local economy,” says Partyka.


Paul P. Partyka, CCIM, MICP, Partner, NAI Realvest,

Patrick Mahoney, President / CEO, NAI Realvest,

Beth Payan, Larry Vershel Communications
 407-644-4142 or 407-461-3781 


JLL arranges $386 million financing for 70 Pine Street in Lower Manhattan’s Financial District

70 Pine Street, a 66-story, 1.03 million-square-foot, mixed-use, Art Deco-style tower in Lower Manhattan’s Financial District

NEW YORK, NY – JLL announced it has arranged $386 million in financing for 70 Pine Street, a 66-story, 1.03 million-square-foot, mixed-use, Art Deco-style tower in Lower Manhattan’s Financial District.

JLL worked on behalf of the borrower, a joint venture between DTH Capital and Rose Associates, to secure the five-year, floating-rate financing through Goldman Sachs. Loan proceeds refinanced construction financing that funded the redevelopment of the property.

Kristen Knapp

70 Pine Street consists of 612 luxury rental apartment units, a 132-room Lyric Hotel and approximately 30,500 square feet of retail leased to Black Fox Coffee, Blue Park Kitchen and gourmet grocer City Acres. 

In addition, the property is home to two restaurant concepts by James Kent and Jeff Katz, formerly of Eleven Madison Park and Del Posto, including the critically acclaimed Crown Shy.

Christopher Peck
The iconic New York property, which formerly served as the global headquarters for CITGO and AIG, was originally constructed in 1932. 

Some of its most notable Art Deco architectural features were preserved through during its 2016 transformation into a state-of-the-art residential building. 

70 Pine features three tiers of residential packages: the City, Tower and Penthouse Collections, all of which include conveniences such as high-quality appliances, stone countertops, European cabinets, in-unit washers and dryers and walk-in closets.

 Residential amenities include access to the 21,000-square-foot Elite by NYSC fitness center and a private bowling alley, screening room, golf simulators, children’s playroom, game room and lounge.

The JLL Capital Markets team representing the borrower was led by Managing Director Christopher Peck, Senior Director Geoff Goldstein and Associate Kristen Knapp.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Geoff Goldstein
 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

About DTH Capital
Chef James Kent

DTH Capital is a real estate development and investment management firm with a successful track record of repositioning landmark office buildings into luxury multi-family properties.

 DTH Capital is currently the majority owner of a 1.9 million-square-foot apartment portfolio concentrated in New York City. The firm’s growth strategy is focused on applying its valuable experience, gained from completing complicated change of use conversions, to other asset classes and expanding its geographic market area. 

DTH Capital is owned by the Eastbridge Group, a European private investment company, and AG Real Estate, a subsidiary of AG Insurance, Belgium’s largest insurance company and real estate investor.

Chef Jeff Katz
About Rose Associates, Inc.

Based in New York, Rose Associates is a developer, owner and operator of premium residential properties.

 From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. 

The firm oversees more than 14,000 units across New York, with approximately $2.24 billion in projects developed in recent years.


 Olivia Hennessey, JLL Public Relations Specialist 
Phone: +1 713 852 3403

PENLER Makes First Multifamily Acquisition in Charlotte, NC and Adds Partners

Alex Geeslin 
Atlanta, GA  and Charlotte, NC – PENLER, a new multifamily real estate investment platform, just acquired its first asset in downtown Charlotte for approximately $55 million. 
PENLER also recently added two new partners to fill the key roles of Chief Financial Officer and Director of Asset Management. Plus, the firm expects to start its first development project next month.
Mark Hinshaw
The Atlanta-based firm acquired Presley Uptown, a 230-unit luxury property in Charlotte, N.C. on Monday, Sept. 30. JLL Income Property Trust was PENLER’s institutional investment partner in the transaction. 

Presley Uptown, a 230-unit luxury property in Charlotte, NC
Uptown is one of Charlotte’s most popular and fastest-growing neighborhoods. Located just off I-277, the pet-friendly community is near several shopping, dining and entertainment options as well as greenspace and major sports arenas. A Lynx Blue Line rail station and a new Whole Foods are within walking distance of the property.

Presley Uptown is National Green Building Standard Green Certified and features Class A unit finishes and amenities including a saltwater pool with aqua bar, a sky lounge rooftop deck, a large fitness center and more. 
PENLER plans to refresh some of the common areas of the property in the coming year. Future updates include the addition of smart-home technology throughout the community.

Graham Carpenter
“This investment is a prime example of our strategy to acquire well located, in-fill projects in high-growth Southeastern markets at an attractive cost basis,” said Managing Partner Graham Carpenter, who leads PENLER’s acquisition division. “The company is less than a year old, and we are hitting our production targets and adding key management team members, as planned.”

New Partners

PENLER also added two partners with key roles in their Atlanta office.
Mark Hinshaw is the firm’s Chief Financial Officer. He is responsible for the financial management of the company and its partnerships. Mark oversees financial reporting, tax, risk management, HR, IT and other initiatives. 
He is also instrumental in the company’s debt and equity capital efforts. Mark started his career in the audit practice of PricewaterhouseCoopers. He then focused on commercial real estate while working with Catellus Development Corporation, Rockwood Capital, and Jamestown. 
Mark received his Bachelors and Masters of Science in Accountancy from Wake Forest University.

Alex Geeslin is the firm’s Director of Asset Management. In her role, she is responsible for the asset management platform where she focuses on maximizing asset performance, oversees property management operations, manages equity and debt relationships and leads transaction execution. 
Alex brings with her over a dozen years of experience in the multifamily sector and was most recently responsible for the operation of a $500 million portfolio of multifamily assets across the Southeast for a regional owner and operator. She graduated summa cum laude from the University of Georgia.

Brian Metzler

New Developments

Managing Partner Brian Metzler adds that the firm expects to start construction on its first multifamily development in Metro Atlanta in November with two additional development projects slated to break ground in the first half of 2020.
 Launched in early 2019, PENLER is a full-service multifamily real estate operating platform focused on major metropolitan areas across the Sun Belt. 
Led by seasoned professionals with deep knowledge of markets and conditions, as well as an expansive vision for seizing new opportunities, PENLER uses best-in-class investment, development and asset management processes. 
For more information, please visit

Terri Thornton