Showing posts with label 9-16-19. Show all posts
Showing posts with label 9-16-19. Show all posts

Monday, September 16, 2019

Silicon Valley Multifamily Expands Bay Area Presence with Two New Brokers


Ting Liu
LOS GATOS, CA, Sept. 16, 2019 – Bay Area multifamily brokerage firm Silicon Valley Multifamily Group (SVMG) has expanded with two veteran brokers, Chip Trimmier and Ting Liu.

Together, they will focus on growth opportunities in San Mateo and Alameda County, including the ability to better serve Mandarin-speaking clients.

“Our objective since day one has been to provide high-quality investment advice for those looking to buy or sell Bay Area multifamily and commercial investment properties,” said Michael Shields, CCIM, Founder and Managing Broker for Silicon Valley Multifamily Group.

Charles (Chip) Trimmier 
“Chip and Ting bring a unique skillset to that mission, allowing us to help clients navigate and succeed through major market shifts such as rent control and global economic uncertainty.”

Trimmier and Liu will continue SVMG’s efforts to provide brokerage and 1031 exchange services, as well as short-term and crisis property management solutions to both English and Mandarin-speaking clients.

Trimmier has been a real estate professional since 2004, founding a title company, a property management company and simultaneously serving as general counsel and business developer for a government contractor located in the Washington D.C. area.

Michael Shields
Liu is a 20-year industry veteran with experience as a realtor, property manager and commercial real estate professional specializing in investment brokerage.

 Her experience includes brokering small residential income investment properties and residential properties, serving as property manager for commercial and multifamily assets, and directing sales and accounting protocols.

Liu is fluent in Mandarin and English and has resided in both the U.S. and China, offering her a unique understanding of each culture.

 CONTACT:


Stacey Hershauer
focusAZ 
P 480.600.0195


Sunday, September 15, 2019

JLL arranges preferred equity financing for Utah development south of downtown Salt Lake City


Rendering of Upper West, a planned207-unit, Class-A,
 transit-oriented, multi-housing property in West Jordan, UT

SALT LAKE CITY, UT JLL announced it has arranged preferred equity financing for the development of Upper West, a 207-unit, Class-A, transit-oriented, multi-housing property to be constructed adjacent to the TRAX light rail stop in the suburban Salt Lake City community of West Jordan, Utah.

JLL worked on behalf of the borrower, Salt Lake City-based Boulder Ventures Development, Inc., to place the non-recourse financing with a private capital fund. The total project cost is $52 million.

Mike White
Upper West will comprise four levels of residential space housing a mix of studio, one- and two-bedroom units over a parking structure. 

Planned community features include an outdoor pool, cabanas, spa, clubroom, outdoor bar and kitchen, fire pit and vegetable garden. 

Situated on 2.43 acres at 3283 West Jordan, the development will be part of the Jordan Valley master development, which includes 1,396 multi-housing units, 83,200 square feet of office space and nearly 35,000 square feet of retail and restaurant space. 

The property site is adjacent to the Jordan Valley Station TRAX stop and about 13 miles south of downtown Salt Lake City. 

Additionally, the site is surrounded by the Jordan Valley Medical Center, Salt Lake Community College Campus and the Jordan Valley Station high-density TOD development that will contain residential, retail, restaurant and commercial space.

Jordan Valley Medical Center
The JLL Capital Markets team representing the borrower was led by Managing Director Mike White in JLL’s Denver office.

“The unbeatable TOD proximity, experienced sponsor and excellent product design for this market were balanced by a 30-day closing time frame involving coordination of four separate stakeholders,” White said. 

“This deal required such an extraordinary effort by everybody that one attorney was actually hospitalized mid-stream. Few capital sources could have pulled this off, and we were extremely pleased to have identified capital for our client that delivered as promised in just 30 days from first-look to funding!”

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

Contact:

 Kimberly Steele
 JLL Digital Content/PR Specialist 
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com

Marcus & Millichap Arranges $275,000 Sale of Dollar General Property in Steeleville, IL




Dollar General
700 East Broadway,
Steeleville, IL
STEELEVILLE, IL  – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar General, an 8,250-square foot net-leased property located in Steeleville, Ill., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $275,000.


Daniel Hurd and Edward Kemp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. 
 
Daniel Hurd 
The buyer, a private investor, was also secured and represented by the two brokers.  Broker Steven Weinstock, assisted in closing this transaction.


Dollar General is located at 700 East Broadway in Steeleville, Ill.  The site was built to suit for Dollar General in 1998 and consists of 8,250 rentable square feet.  

Dollar General has operated at this site for 20+ years and serves as the main retailer in town. 

Contact:

 Chris Travis
Sales Manager, Tampa
(813) 387-4700