Waldo District in Kansas City, MO moves forward with $12.7 million equity investment

 

 

Rendering  of Waldo District, an approximate 283-unit, 

Class A planned multi-housing community 

in the Waldo neighborhood of Kansas City, MO

 

DENVER, CO – JLL Capital Markets has arranged a $12.7 million equity investment for the construction of Waldo District, an approximate 283-unit, Class A multi-housing community in the Waldo neighborhood of Kansas City, Missouri.

JLL worked on behalf of the borrower, EPC Real Estate Group, to secure the equity investment with a national fund manager.

Austin Bradley

Designed by architect BRR, Waldo District will consist of six-story building housing approximately 284 residential units and 12,494 square feet of retail with structured parking.

 

Units will be finished with marble countertops, stainless steel appliances, full-size washer/dryers, modern tiled tubs or showers, smart locks, smart thermostats, walk-in closets, LED lighting and balconies in select units.

 

The community will offer top-of-the-line amenities, including a luxurious clubhouse; media area with bourbon/wine lounge, golf simulator and e-sports; fitness center and yoga/spin studio; remote work office space; dog spa, secure bike storage and repair; a resort-style pool; fire pits; outdoor grills; outdoor televisions and landscaped courtyards.

 

 Waldo District will also offer approximately 349 parking spaces within a structured garage.

 

The 2.68-acre parcel at 7421 Broadway St. is currently improved with a warehouse, car wash and the recently closed Well Bar and Grill, which intends on relocating to the retail space on site.

Mark Erland 

The property is located in the heart of the Waldo neighborhood, just 6.8 miles south of Downtown Kansas City. The immediate area boasts more than 1.2 million square feet of restaurants, shops and bars that are all easily walkable from Waldo District.

 

 In addition, residents have access to the Harry-Wiggins Trolley Track Trail and easy access to major roadways, including Interstates 71 and 169 providing connectivity to the greater Kansas City area.

 

“This development will seamlessly integrate into the existing fabric of the neighborhood, while embracing Waldo’s own unique character,” said Austin Bradley, Executive Vice President at EPC Real Estate Group.

 

“We look forward to delivering an unmatched urban lifestyle offering at one of the most transit oriented and walkable sites in the city.”     

 

The JLL Capital Markets team was led by Managing Director Mark Erland and Director Kevin Barron.

 

“EPC Real Estate Group is delivering much needed Class A multi-housing product to a growing neighborhood that currently has zero Class A projects planned or delivered and the existing stock has an average vintage of 1973,” added Barron.

Kevin Barron

“The community’s popular location and its proximity to the Country Club Plaza, while being a short drive to employment in Overland Park will appeal to young professionals and families seeking a trendy, urban feel while also being adjacent to some of the best residential neighborhoods in the metro.”

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

CONTACT

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 

 

 

JLL Capital Markets facilitates the $80 mllion sale of a 296-unit apartment community in Mount Laurel, NJ

 

Lisa Daily

PHILADELPHIA, PA – JLL Capital Markets announced the $80 million sale of Mount Laurel Crossing, a 296-unit apartment community located in Mount Laurel, New Jersey.

 JLL represented the seller in this transaction, while Colony Hills Capital, based in Wilbraham, Massachusetts and Balfour Beatty acquired the multifamily asset.

Samantha Kupersmith

Mount Laurel Crossing, built in 1999, is currently at 98% leased, offering a diverse selection of one-, two- and three-bedroom units, with an average size of 944 square feet. 

Residents of Mount Laurel Crossing enjoy a range of amenities, including a resort-style swimming pool, an outdoor lounge area with a fire pit, a dog park, a clubhouse with a business center, detached garages, a 24-hour fitness center and BBQ grills. 

                      Fran Coyne

Tenants are also within walking distance of the community association's park, which offers tennis courts, pickleball courts, basketball courts, a baseball field, an open field and a children's play area.

 

Conveniently located at 1 Larchmont Place, the property also provides superior access to major employment hubs and entertainment destinations with close proximity to major roadways serving South Jersey, such as Routes 38, 70, 78, Interstate 295 and the New Jersey Turnpike.

 Carl Fiebig

Additionally, Mount Laurel and the Burlington County submarket have consistently demonstrated strong rental performance in recent years. 

The submarket's robust fundamentals are further bolstered by the presence of prominent regional employers such as Joint Base McGuire-Dix-Lakehurst, TD Bank, Freedom Mortgage, Automotive Resources International and more.

 

“We are thrilled to add this community to our multifamily portfolio. Mount Laurel Crossing’s neighborhood appeal coupled with the economic diversity and strength of the greater MSA makes this a perfect fit for our investment strategy,” said Lisa Daily, SVP of Multifamily Acquisitions for Balfour Beatty.

 

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Fran Coyne, Carl Fiebig and Jose Cruz alongside Managing Director Mike Oliver, Senior Director Samantha Kupersmith and Director Tyler Margraf.

Jose Cruz

"We are thrilled to have facilitated the $80 million sale of Mount Laurel Crossing," said Coyne. "This transaction underscores the strong desirability of the Mount Laurel submarket and the appeal of well-maintained, amenity-rich multifamily properties."

 

“The opportunity attracted a diverse mix of private and institutional capital, resulting in a highly competitive sale process,” added Fiebig.

 

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 sales and advisory, debt advisory, equity advisory or a recapitalization.

 

Mike Oliver

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom.

 

About Colony Hills Capital

Colony Hills Capital is a real estate investment company focused on the acquisition, ownership and management of value-add garden style multifamily properties in primary and secondary markets; investments that improve our resident’s lifestyles and provide consistent returns for our investors.

Tyler Margraf

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow. 

We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

 

Contact:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

Peachtree Group Wins Multiple Marriott Select Brands Awards During Ceremony

Shara Roddan

ATLANTA, GA – Peachtree Group (“Peachtree”) announced that it received multiple Marriott Select Brands (MSB) Awards during this year’s Marriott Select Brands Owner & Franchisee CONNECT Conference in Orlando, Fla. The awards recognize hotels that demonstrate outstanding service, innovation and commitment to guest satisfaction.

 

“These awards are a testament to the exceptional work our hotel associates deliver every day,” said Steve Mackenzie, Peachtree’s senior vice president of operations, hospitality management.

Steve Mackenzie

 “These hotels have consistently excelled in guest and F&B satisfaction, setting a benchmark for unparalleled service, and we are proud to have them as part of the Peachtree family. Additionally, we extend our gratitude to our partners who entrust us with managing their properties.

 

"Their collaboration has been instrumental in achieving these accolades, showcasing our shared commitment to superior quality.”

 

The award winners include:

 

Platinum Circle

• SpringHill Suites Lindale, Texas

Gold Circle

• Fairfield Inn & Suites Gadsden, Alabama
• SpringHill Suites Dallas Rockwall, Texas
• TownePlace Suites Dallas Rockwall, Texas

Silver Circle

• Courtyard by Marriott Indianapolis Plainfield, Indiana
• SpringHill Suites Vero Beach, Florida

F&B Satisfaction

• SpringHill Suites Lindale, Texas

“Every recipient of these awards embodies the essence of Peachtree’s mission, showcasing outstanding excellence, strong leadership and a relentless dedication to serving our guests, partners and communities,” said Shara Roddan, vice president of operations, hospitality management.

 

 

Contacts:

 

CharlesTalbert 

678-823 7683

ctalbert@peachtreegroup.com

 

 

Chris DalyPresident

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

www.peachtreegroup.com.

 

Subtext to Bring Elevated Student Living to the University of South Carolina with 'VERVE Columbia'

  

Rendering of VERVE Columbia to be constructed
on 3.84 acreslocated at 450 Blossom Street in Columbia, SC

Columbia, SC – Subtext, a national student and multifamily real estate company, recently acquired 3.84 acres located at 450 Blossom Street in Columbia, S. C., for the construction of VERVE Columbia.

 The four-story student housing community is located along one of Columbia’s main thoroughfares and is two blocks from the University of South Carolina (USC) campus. Site work is underway and construction will be completed in fall 2026.

 

The 233-unit, 412,959-square-foot student apartment community will offer a mix of studio, one-, two-, three-, four-, and five-bedroom layouts, totaling 697 beds.

Brandt Stiles

 Featuring over 16,000 square feet of shared spaces, VERVE Columbia is designed to provide residents with all they need to achieve their personal and academic goals.

 

Amenity highlights include an outdoor sport court, game lounge, content creation studio, study pods, open study and private conference rooms, resort-inspired pool courtyard with cabanas and grilling, and fitness center complete with cardio/strength gym, sauna, meditation rooms, and yoga studio. 

 

Located at the corner of Blossom and Huger Streets, VERVE Columbia will occupy a coveted pedestrian location in the path of planned campus expansion to the west, and is positioned to benefit from increased student density, traffic, and activities.

 

The property is also located across the street from Founders Park, where the USC Gamecocks baseball team plays home games.

 

“We’re excited to expand our portfolio to the University of South Carolina market. With steady enrollment growth over the last 10 years, accelerating in recent years, there is an increased demand for elevated student housing,” said Brandt Stiles, Founding Partner, Subtext.

 

“USC is one of those quintessential college towns, and we have crafted this VERVE community within the context of the local environment—rich in history and tradition, but reimagined for the Gen Z audience.”

 

The VERVE Columbia architecture was designed by Dynamik Design and complemented with interior design by Mary Cook Associates. Other development team partners include W. M. Jordan Company, general contractor; Davis & Floyd, engineer, and CIBC, lender.

 

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 subtextliving.com.

 

Sourcing expert LaWanda Savage-Henton joins JLL as Americas Head of Client Sourcing and Procurement

 

LaWanda Savage-Henton

 CHICAGO, IL, July 2, 2024 – JLL has hired LaWanda Savage-Henton as Americas Head of Client Sourcing and Procurement.

 

 In this role, she leads all client account operations and drives the Client Sourcing and Procurement platform for Work Dynamics, Project and Development Services and Property Management in the Americas region.

 

Savage-Henton has accumulated more than 25 years of experience in procurement and supply chain management. She joins JLL from Sodexo, where she was the Vice President for IFM Sourcing and Procurement, and, prior to that, held senior sourcing and procurement positions at leading Fortune 150 and Fortune 500 companies.

Michael Raphael

Based in Chicago, Savage-Henton is now responsible for managing interactions across multiple teams and businesses to deliver exceptional sourcing services to JLL clients in the Americas. She reports to Michael Raphael, JLL Chief Procurement Officer.

 

“We are thrilled to have LaWanda join JLL as Americas Head of Client Sourcing and Procurement,” Raphael said. “Her client-first philosophy, collaborative approach and ability to expertly assess and refine procurement organizations make her the ideal leader to steer our growing Americas platform.

 

"LaWanda's commitment to cultivating talent and delivering best-in-class service aligns perfectly with our core values. We are confident she will bring immense value to our clients and excited to welcome her to the JLL team.”

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

 

CONTACT: 

 

Kimberly Steele

PR, Work Dynamics, Industries, and Project and Development Services

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com