Thursday, November 28, 2019

Trion Properties Grows Portfolio in Bay Area with Acquisition of 84-Unit Multifamily Community in Newark, CA

The Meadows, an 84-unit multifamily community, 
35750 Bettencourt Street, Newark, CA

Newark, CA – Trion Properties, a private equity real estate firm that specializes in multifamily investments in western markets, has expanded its Bay Area portfolio with the acquisition of The Meadows, an 84-unit multifamily community located in Newark, California for $27.5 million.

Max Sharkansky
South East Bay cities have benefited from a Silicon Valley spillover, and the region is experiencing unprecedented population growth and employment boom, according to Max Sharkansky, Managing Partner at Trion Properties.

 “Newark has become one of the fastest-growing cities for top tech businesses to either expand or relocate,” explains Sharkansky. 

“With Facebook recently announcing that it will be leasing nearly 1.5 million square feet within two miles of The Meadows, the area is positioned for further growth and resident demand. 

"The asset fits into our investment strategy seamlessly, based on the strong location and potential for upgrades to enhance the quality of this product.”

Along with Facebook, Tesla, Amazon, HP, Sysco, Boston Scientific, Logitech, and other major firms have offices in the immediate neighborhood.

Sharkansky also notes that while Newark has experienced significant growth in the recent years, the average rental rates remain an attractive value alternative to many neighboring Bay Area cities, which will continue to drive potential renters to the city.

Andrew Lucas
“We immediately recognized the long-term appeal of this property to residents across demographics,” explains Andrew Lucas, Director of Capital Markets at Trion Properties. 

“The Meadows is strategically situated between Oakland and San Jose, with close proximity to other major cities including Palo Alto and San Francisco, offering prime access to jobs and social activities. The apartment community is also located near excellent area schools, adding to its desirability.”

The property, built in 1966, will undergo extensive renovations and a rebranding, according to Farhan Mahmood, Managing Director, Acquisitions at Trion Properties.

“This acquisition is an opportunity to implement our proven value-add renovation strategies to modernize the community and bring rents up to market,” states Mahmood. 

“We will leverage our experience in the East Bay and current portfolio, including multifamily properties in Fremont, San Leandro, and Hayward, to optimize the asset’s appeal and efficiencies.”

The Meadows features a mixture of one-, two- and three-bedroom units, all with private patios or balconies and walk-in closets.

Farhan Mahmood
According to Mahmood, Trion Properties plans to makeover units with stainless steel appliances, quartz countertops, vinyl plank flooring, new cabinetry, Bluetooth locks, upgraded bathroom vanities, and in-unit washers and dryers. Exterior upgrades will include landscaping and new signage to reflect the rebranding.

            The Newark Community Center Park and Lakeshore Park are easily accessible to the property and offer walking trails, picnic areas, and tennis courts for public use.

 Further, The Meadows is located within a 15-minute walk of a Sprouts, plus several other local retailers and restaurants.


Micaela Fehrenbach / Elisabeth Manville
Brower Group
(949) 438-6262

JLL arranges sale, financing of Dallas-area apartments

The Palace, a 280-unit, garden-style apartment community, 1601 Regency Court, Arlington, TX
DALLAS, TX – JLL announced  it has closed the sale of and arranged financing for The Palace, a 280-unit, garden-style apartment community located in Arlington, Texas.

JLL marketed the property exclusively on behalf of the seller, MBP Capital, Inc., and procured the buyer, Raven Multifamily. 

Cathy Finn
Additionally, JLL worked on the new owner’s behalf to secure a 12-year, fixed-rate Fannie Mae acquisition loan. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.

Mike Phillips
The Palace is located at 1601 Regency Court with visibility along Pioneer Parkway and Arkansas Lane in the Dallas-Fort Worth area’s Central/South Arlington submarket. 

 Deverick Jordan
Originally constructed in 1971, the 12-building, two-story property has recently undergone major renovations, including new signage, exterior improvements and the addition of numerous common area amenities such as a swimming pool, new leasing/management office and laundry rooms. 

Other amenities include a courtyard with barbecue grills, large patios and balconies and walk-in closets. The Palace offers seven spacious floor plans averaging 893 square feet, which range from one- to three-bedroom configurations. The property was 96.4% occupied at closing.

Art Barnes 
The JLL Capital Markets team representing the seller included Vice Presidents Art Barnes and David Godvin and Executive Vice President Jorg Mast.

JLL’s Capital Markets debt placement team representing the new owner included Executive Vice President Deverick Jordan, Vice President Andrew Speer, Manager Clint Hoelscher and Analyst Donovan Collins.

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

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. 

David Godvin 

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.
Agency/GSE lending and loan servicing are performed by Jones Lang LaSalle Multifamily, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. 

Loans made or arranged in California are pursuant to a California Financing Law license.

About MBP Capital, Inc.:

MBP Capital, Inc. (“MBP”) was founded by Mike Phillips and Cathy Finn (collectively, the “Key Principals”) in 2006 to focus on the acquisition and investment management of multifamily residential properties, located predominantly in Texas and Colorado. 

Jorg Mast
The Key Principals of MBP have been involved in over 250 successful brokerage transactions, the ownership of over 5,000 multifamily units and the management of over 30,000 Class A, B and C multifamily units in Colorado and Texas.

MBP is a private multifamily investment manager with strong experience and presence in major metropolitan markets in Texas and Colorado. 

MBP is a vertically integrated real estate investment firm, with a property management subsidiary that provides management services to MBP properties totaling approximately 3,000 units across Dallas-Fort Worth and San Antonio. 


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