Thursday, July 18, 2019

JLL arranges $222.5 million refinancing for Sunroad Enterprises on two San Diego, CA apartment buildings

Vive on the Park is a 550-unit, mid-rise apartment complex consisting of five stories that house a variety of studio, one-, two- and three-bedroom units within the 232-acre Centrum Master Plan in San Diego’s Kearny Mesa submarket

SAN DIEGO, CA – JLL announces it has arranged a $222.5 million refinancing on behalf of Sunroad Enterprises for two, Class A multi-housing properties totaling 803 units within the 232-acre Centrum Master Plan in San Diego’s Kearny Mesa submarket.

JLL worked on behalf of the borrower, Sunroad Enterprises, to arrange the 10-year, fixed-rate loan.

Aldon Cole
The portfolio comprises the newest apartment developments in the Kearny Mesa submarket, Ariva Apartments and Vive on the Park. The properties are proximate to SR-163 (Cabrillo Freeway) and Interstate 15. 

The 253-unit Ariva was completed in 2014 and consists of two podium-style buildings, each with four stories over a two-story podium garage and separated by a two-acre park.

 The studio, one- and two-bedroom units range in size from 595 to 1,241 square feet and feature quartz countertops; hardwood cabinetry with decorator pulls; stainless steel GE appliance packages that include gas ranges; wood-planked laminate flooring; full-sized, in-unit, front-load washers and dryers; and nine-foot ceilings. 

Community amenities include a recreation room, exercise room, game room, learning center, outdoor pool and spa, outdoor showers, private cabanas, barbeque areas, pool deck, fire pit and waterfall.

Vive is a 550-unit, mid-rise apartment complex consisting of five stories that house a variety of studio, one-, two- and three-bedroom units. 

Tim Wright
Constructed in two phases in 2017 and 2019, units feature slate appliances, five-burner gas ranges, tiled backsplash, stone countertops, wood-plank style flooring, front-loading washers and dryers, and spacious walk-in closets. 

Vive’s amenity package includes a variety of lifestyle and entertainment options such as rooftop lounges with a pool and spa, multi-level fitness center, business center, sand fire pits and wooded elevated deck, clubroom, game room, social club and onsite storage.

The JLL Capital Markets team representing Sunroad was led by senior managing directors Aldon Cole and Tim Wright and associate Bharat Madan.

“Sunroad’s long-term vision on providing housing in a central San Diego market that had historically been overlooked is a testimony to their understanding of what the San Diego housing market needs,” Cole said.

Earlier this year, the deal team also arranged $145 million in construction financing on behalf of Sunroad Enterprises for the development of Vive LUX, a 442-unit, Class A apartment project within the Centrum Master Plan that is located adjacent to Ariva and Vive.


 Aldon ColeJLL Senior Managing Director
CA License: #01457351
Phone:  +1 858 552 7690

 Timothy D. WrightJLL Senior Managing Director
CA License: #00947194
Phone:  +1 858 552 7690

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

JLL arranges financing for Elevate Apartment Tower in Chicago’s Lincoln Park

ELEVATE, a newly built, 11-story luxury apartment building located at 930 West Altgeld Street in Chicago’s Lincoln Park neighborhood.

CHICAGO, IL – JLL announces it has arranged financing for ELEVATE, a newly built, 11-story luxury apartment building located in Chicago’s Lincoln Park neighborhood.

JLL worked on behalf of the borrower, a joint venture between Baker Development Company and USAA Real Estate, to place the long-term, fixed-rate loan Fannie Mae through Greystone.

ELEVATE contains 191 luxury apartment units totaling approximately 175,000 square feet, more than 16,000 square feet of ground-floor retail and 152 indoor parking spaces. 

ELEVATE contains 191 luxury apartment units totaling approximately 175,000 square feet, more than 16,000 square feet of ground-floor retail and 152 indoor parking spaces

Completed in 2018, the property incorporates a “V” shape floorplate design featuring 25 standard floor plans along with 16 penthouse-level apartments, including three duplex penthouse-level “sky homes”. 

ELEVATE also provides 20,000 square feet of amenity space, including a third-floor landscaped common-area courtyard as well as a roof-level amenity floor that provides panoramic city skyline views, an outdoor pool with wraparound sundeck, state-of-the-art fitness center with personal audio/video and yoga studio, smartphone keyless entry, indoor dog spa and outdoor dog run. 

Daniel Kaufman
Located at 930 W. Altgeld Street, the property is walkable to the lakefront, the Lincoln Park Zoo and multiple entertainment and retail amenities. In addition, ELEVATE is less than two blocks from the Fullerton “L” station, which provides a short commute to downtown.

The JLL Capital Markets team representing the borrower was led by senior managing director Danny Kaufman and senior director Trent Niederberger.

“ELEVATE is Lincoln Park’s first newly built residential high-rise in more than 30 years,” Kaufman said.  “Due to the scarcity of large developable parcels and an historically difficult approvals process, the barriers to entry in the submarket are high, which will help ensure the property’s competitive advantage well into the future.”

Trent Niederberger
“The Baker/USAA Real Estate team has created a truly exceptional addition to the neighborhood,” Niederberger added. “ELEVATE gives residents unparalleled views of the city and unrivaled unit plans and amenities.”


 Danny KaufmanJLL Senior Managing Director
Phone:  +1 312 528 3650

 Trent NiederbergerJLL Senior Director
Phone:  +1 312 528 3650

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

SVN leads marketing effort for the development of Panama City’s SweetBay Town Center

Ashley Bloom
                                                                                                                     Panama City, FL  – SVN will be leading the marketing efforts for the development of the SweetBay Town Center in Panama City.

SweetBay is one of the largest urban infill projects currently underway in Florida. Community leaders are expecting it to significantly boost recovery efforts for the state’s northwest region battered by Hurricane Michael, which made landfall last October as a Category 5.

The St. Andrew Bay Land Co., part of HomeFed Corp., developed the concept for the SweetBay Town Center a few years before the hurricane struck.

With 3,200 residential units approved for building, the 700 acres will be the core of the existing SweetBay Planned Development Community built on the site of the old Panama City Regional Airport.

Mark McQueen
Many of the homes have already been sold during the initial phase. A 300-unit Class A apartment project is also planned.

SweetBay’s amenities include five miles of bay access to residents, a planned marina village, nature trails, an initial pool and sports court, and the University Academy  – Florida’s top-ranking free K-8 public charter school in 2018.

SVN experts in land, marina, retail and multi-family from around the state have commenced marketing efforts to bring the project to fruition. Leading the team of five SVN offices involved in the effort is SVN Lotus.

“This is such a remarkable community and we’re delighted to be involved in this effort,” said Ashley Bloom, SVN Lotus managing director. “It’s a gem on the shoreline, a wonderful place for families to raise children. With the bay access, there’s a host of recreational activities available. People can access the Town Center easily, via golf carts – its good living.”

The SweetBay Town Center project has created much-needed excitement and support from the Bay CountyEconomic Development Alliance, DestinationPanama City, elected officials, businesses, community leaders and citizens.

“SweetBay is a vital part of Panama City’s rebuilding effort, which is more than just a restoration: We’re growing our economy and community to become the premier city in the Panhandle,” said Mark McQueen, city manager, Panama City.

Jacob Fish
He added that the effort will include the addition of multi-family housing, boutique retail shops, restaurants, coffee shops, gyms, a grocery store and more.

“We plan to attract commercial industries, such as retail, hospitality, aviation, maritime, manufacturing,” he said. “These are all desperately needed for Panama City to thrive.”

“We’re so looking forward to the continued development of this community and working with the people at SVN,” said Jacob Fish, director of development, St. Andrew Bay Land Company.

“SweetBay is one of the Florida Panhandle’s premier spots to live, and we’re encouraged to see all the plans in store for this community. The future here is exciting.”


Ashley Barrett Bloom, managing director, SVN Lotus, 941-961-7109

Ken Zeszutko, Z Corp. PR, 321-213-1818 /

Terry May 

Greenworks Lending Expands California Market; Brings Clean Energy Financing to Commercial Real Estate Owners, Developers and Solar Contractors

Dana White

Orange County, Oakland and San Diego, California, July 18, 2019 – Greenworks Lending, a private capital provider uniquely dedicated to funding energy performance-enhancing commercial real estate projects, has announced its expansion throughout California with three new offices, including Orange County, Oakland and San Diego.

The firm, which is headquartered in Connecticut, provides Commercial Property Assessed Clean Energy (C-PACE) financing for commercial and multifamily properties throughout the U.S.

Tosh Dutt
“Clean energy is an essential focus for today’s commercial property owners and developers,” says Jessica Bailey, CEO and Co-Founder of Greenworks Lending.

 “As building codes become increasingly strict and energy-efficient solutions become a requirement, the ability to finance green initiatives can often be one of the most strategic financial decisions an owner or developer can make.”

To lead its efforts throughout California, Greenworks has named Dana White as Director of Business Development for California and has appointed Tosh Dutt as National Director for Solar and Storage.   

Jessica Bailey

“Greenworks Lending funds 100 percent of the hard and soft costs of commercial building upgrades and construction elements that improve energy performance,” explains White.

“This financing helps owners and developers realize significant savings on new construction, energy efficient, and solar projects.”

For more information, please visit


Lisa James / Jenn Quader
Brower Group
(949) 438-6262

Nashville's Rayna James Home on Market for $16 Million

The home of Nashville’s fictional character Rayna Jaymes, the queen of country music played by Connie Britton,
is on the market for $15.999 million.

Photo credit: The Agency


Connie Britton
NASHVILLE, TN --Country music fans know that many of their favorite stars live in the most spectacular homes in Nashville’s best neighborhoods.

Nicole Kidman
According to, for the hit television show Nashville that was all about Music City and the stars and wanna-be stars who live, work and perform there, location scouts headed straight to the town’s elite Belle Meade neighborhood.

Amy Grant
The luxurious mega-mansion on Belle Meade’s Page Road that was chosen by ABC-TV as the home of Nashville’s fictional character Rayna Jaymes, the queen of country music played by Connie Britton, is on the market for $15.999 million.

Vince Gill
Just minutes from Downtown Nashville, Belle Meade is where the city’s most affluent choose to live including celebrity couples Keith Urban and Nicole Kidman, and Vince Gill and Amy Grant.

Keith Urban
 Carved out of the original 1807, 5,400-acre Belle Meade Plantation, it is also home to the members-only Belle Meade Country Club with its private 18-hole golf course and across from two large mountainous parks for hiking and exploring.

Paul Simon
The Nashvilleshow frequently featured the Page Road home for exterior filming and interior sets were replicated from the home’s kitchen and bedroom in exact detail down to the fabrics.

Jackson Browne

Well known not only for its connection to the television series that ran from 2012 to 2018, the home has hosted many charity events, fundraisers and parties by its owner with top-name entertainers performing such as Paul Simon and Jackson Browne.

 It was also the site of a fundraiser held for President George W. Bush in 2000 and hosted the opening festivities for the 2015 Country Music Awards.

Built in 1999 and designed by the owners in conjunction with architect Mark Harrison, the 20,000-square-foot home sits on six acres with six bedrooms and eleven bathrooms.

President George W. Bush
There is a fully outfitted guest house, a three-car garage and parking for approximately 300 guest cars.

 Designed for luxury entertaining, the dining room can accommodate as many as 50 seated diners. The structure is built of Tennessee dry-stacked limestone, glass, brick and wood with slate roofs.

Floors are 16-inch reclaimed antique pine and the antique fixtures were hand picked by the owners including a mantle from a former Versace property.

Mauricio Umansky

 Other special features include a floating spiral staircase, a brick wine cellar with storage for 3,500 bottles, billiards room and home theater. Manicured grounds consist of sweeping lawns dotted with mature shade trees and hedges.

Outdoor amenities include a large Romanesque pool and spa with lush landscaping and large open brick cabana with fireplace for additional entertaining along with a two-stall barn and pond.

Dennis Johnson 
Seeped in luxury and character, this Belle Meade mega-mansion is one of Nashville, Tennessee’s most notable and celebrated homes. It has been host to the country’s political and entertainment stars and has been featured in the television series Nashville and various commercials including a Super Bowl Skittles commercial.

Co-listing agents are Mauricio Umansky of The Agency, Beverly Hills and Dennis Johnson of Worth Properties, Nashville.


Genelle C. Brown
Content Manager, Media Division
Phone:  434-480-4504

Twitter:  @toptenrealestat