Thursday, February 13, 2020

JLL arranges $43 million financing for suburban office portfolio

Martha Nay
BOSTON, MA – JLL Capital Markets announced  it has arranged $43.18 million in acquisition financing for a two-property office portfolio totaling 292,014 square feet in the Boston-area community of Framingham, Massachusetts.

JLL worked on behalf of the borrower, a partnership between Campanelli and TriGate Capital, to place seven-year, fixed rate, non-recourse loan with Cambridge Savings Bank. Proceeds will be used to acquire the portfolio and make capital improvements to the properties.

The office portfolio is 90% leased to 32 tenants and comprises 492 Old Connecticut Path and 161 Worcester Road, both in Framingham, which has emerged as the urban center of MetroWest, the eight-community sub-region along the heavily populated Mass Pike-Route 9 Western Suburban corridor. 

 Greg LaBine

492 Old Connecticut Path is a 166,101-square-foot, six-story property adjacent to Interstate 90, which is the main east-west thoroughfare with direct access to downtown Boston.

 The 125,913-square-foot 161 Worcester Road is a six-story office property with a restaurant pad on Worcester Road (Route 9), which connects downtown Boston and the affluent western suburbs. 

The borrower will invest $2.4 million into capital improvements to the portfolio, focusing mostly on 492 Old Connecticut Path.

The Capital Markets debt placement team representing the borrower was led by Managing Director Greg LaBine and Director Martha Nay.

“Given the acquisition nature of the deal, certainty of execution was particularly sensitive on this transaction,” Nay said.

492 Old Connecticut Path
 Framingham, MA
 “The proven track record of the Campanelli/TriGate team executing successful value add office programs allowed Cambridge Savings Bank to get very comfortable with the business plan. 

"The smooth execution by all sides resulted in a highly successful transaction.”

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. 

161 Worcester Road 
Framingham, MA
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 Campanelli:

Campanelli is a third-generation, vertically integrated commercial real estate, construction, development, acquisitions and management company. 

With over six decades of successful experience having developed, built and acquired over 24 million square feet of property, Campanelli’s impeccable reputation in real estate development and investment stands as the foundation of our lasting relationships with an extensive list of repeat clients.


 Kimberly Steele,
 JLL Senior Associate
 Public Relations
Phone: +1 713 852 3420

Veteran Title Insurance Executive Katy Thomas Joins Proper Title, LLC, as Director of Business Development

 Katy Thomas

CHICAGO, IL  (Feb. 13, 2020)  Proper Title, LLC, a full-service title insurance firm serving the commercial and residential real estate industry throughout the Chicagoland area, today announced Katy Thomas, a 30-year veteran of the title insurance and real estate industries, has joined the firm as director of business development  Chicago.

Based in the firm’s Loop office at 180 N. LaSalle St., Thomas will focus on driving new business growth in residential, commercial and national real estate transactions.

“Bringing Katy onto our team is just the latest in a string of strategic hires and new office openings over the past six months to meet demand as Proper Title completed nearly 25% more residential closings in 2019 than the year prior,” said Kim O’Donnell, vice president of business development for Proper Title.

 “She brings a wealth of skills and industry ‘know how’ and is highly regarded throughout the industry for her responsiveness, professionalism and integrity.

Kim O’Donnell
"Katy has also built a vast network of trusted real estate professionals that we value and would be honored to serve.”

Most recently, Thomas was the Chicago-area sales manager for Attorneys’ Title Guaranty Fund. Prior to that, she held several different positions, including a broker associate for Jameson Sotheby’s International Realty, founder and owner of Regent Title, and executive vice president of sales for Near North Title Group.

Thomas began her career in real estate as an escrow closer for Chicago Title Insurance Company. She holds a master’s degree from Northern Illinois University.


Paula Widholm,, (312) 267-4525 Kim Manning,, (312) 267-4527

Plato Ghinos Named Inaugural Member of the European Marriott Franchise Systems Advisory Council

Plato Ghinos

STATE COLLEGE, PA—Officials of Shaner Hotels, an award winning, international hotel owner, operator and developer,  announced that its president, Plato Ghinos, has been appointed an inaugural member of the European Marriott Franchise Systems Advisory Council.  

Members of the newly created group will meet periodically with the top management of Marriott International, Inc., and its subsidiaries to review plans and programs.  

Also,  the new group will examine other matters of common interest related to the various systems for operating franchised hotels located in Europe under brands licensed by Marriott.
 “As a member of the U.S. counterpart, as well as an owner/operator of multiple Marriott-branded hotels throughout Italy, Greece and Cyprus, I believe I have a unique perspective to add to the newly established European Marriott Franchise Systems Advisory Council,” said Ghinos.

 “While branded hotels are ubiquitous throughout the United States, they remain a growing phenomenon throughout Europe, where independent and boutique hotels tend to hold more sway.  I look forward to adding my voice to the process as Marriott continues its worldwide growth goals.”
The council’s purpose is to promote constructive, open and two-way communications between the Marriott Systems franchisees and Marriott management to develop better mutual understanding.

In addition to being president of the Shaner’s U.S. hotel division, he also is managing director of Shaner Italia, where he oversees the company’s Italian portfolio. 


620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553

Building owner uses billboard to bring art to Times Square

Tzili Charney

ZAZ10TS,an ongoing cultural initiative that integrates art into the office building at 10 Times Square and works with a variety of organizations to bring cultural enrichment to the Times Square area,  presents “ZAZ Corner” a new digital gallery  showcasing artwork. 

Located at the corner of 41st Street and 7th Avenue in New York City, the billboard features a large LED, digitally activated screen that will be home to a new “ZAZ Corner” gallery bringing art and nature to the Times Square area.

Daphné Jouanneteau

ZAZ Corner will feature different artists and motifs on a monthly basis. 

ZAZ10TS kicks off the program this month with new media digital work based on a stylistic “nature” theme curated by Lightbox. 

The February program brings artistic greenery into the neighborhood and is designed to juxtapose the calming nature images with the surrounding concrete structures and hustle-bustle of Times Square.

Limei Wang

“The sounds and sights of Times Square can sometimes be overwhelming to the senses,” says Tzili Charney, founder of ZAZ10TS. 

“We want to offer a bit of respite and serenity with beautiful artwork featuring nature and springtime colors in the middle of the often-dreary winter season.”

Leon Charney
Charney (widow of real estate mogul/philanthropist/political advisor Leon Charney) owns the building at 10 Times Square (1441 Broadway) as well as the billboard that is on the building. 

A former costume designer and passionate about art, Tzili is also founded ZAZ10TS, a cultural initiative  that works to bring art and culture into the area, including an art gallery in the office building's lobby. 

 Now, ZAZ10TS is using the billboard space to showcase a series of stunning digital artwork as a gift to New Yorkers.

“Lightbox is a thrilled partner with ZAZ10TS as we share a mutual interest in bringing our corner of the city to life and in turn, creating a space for talented digital artists to share their inspiring works,” adds Daphné Jouanneteau, CEO of Lightbox.

“Art brings people together and we are thrilled to work with artists and partners to bring strikingly beautiful digital artwork to a public space and see the impact on the community” continues  Limei Wang, director of ZAZ10TS.


  Liz Ammirato
  Cathy Callegari PR, Inc. 

NAI Realvest closes on Long-Term Lease Agreement for Aerospace and Defense Industry Tenant in 50,000 SF at Central Florida Research Park

Andy McCaw

ORLANDO, FL -- Andy McCaw, Vice President of Tenant Representation at NAI Realvest brokered a long-term office lease agreement on behalf of Astronics Test Systems, a wholly owned subsidiary of Astronics Corporation ATRO (NASDAQ), for 50,800 square feet in Central Florida Research Park .

 McCaw said the one-story flex building at 12889 Ingenuity Drive was originally built for DME Corp in 1994. 

Astronics an aviation / aerospace electronics corporation purchased aviation safety systems manufacturer DME in 2009 for an undisclosed amount. 

 Astronics Test Systems, who employs 132 professionals at the East Orlando research park building ensures optimal performance of mission control systems through innovative test system solutions.

 Since 1999 McCaw has been exclusively representing the interests of corporate tenants – many in the defense industry sector – at and surrounding Central Florida Research Park .  


Andrew (“Andy”) McCaw, Vice President of Tenant Representation, NAI Realvest 407-875-9989

 Patrick Mahoney, President/CEO, NAI Realvest,

 Beth Payan, Larry Vershel Communications