Tuesday, September 3, 2019

San Francisco’s Most Expensive Mansion Reduced in Price to $40.5 Million from $45 Million

The 9,500-square-foot home on Russian Hill features stand-and-stare views over San Francisco Bay and Telegraph Hill

  Photo credit: Jacob Elliot        Source: www.joelgoodrich.com

A San Francisco mansion near many of the city's most popular landmarks has reentered the market as the city's most expensive listing at $40.5 million -- a reduction from its original $45 million.

Willis Polk
 Located just one block from the world's most crooked street and near cable cars, Fisherman's Wharf and the San Francisco Art Museum, the 9,500-square-foot home on Russian Hill features stand-and-stare views over San Francisco Bay and Telegraph Hill. 
Steve McQueen
The Russian Hill name dates back to the San Francisco Gold Rush days when prospectors discovered that the hilly neighborhood was the site of a Russian cemetery, according to TopTenRealEstateDeals.com.
Neal Cassady
 In addition to its culture, food (Ghirardelli Square and family-run restaurants) and entertainment opportunities, Russian Hill has been seen by millions of movie goers from the famous car-chase scenes in Steve McQueen's 1968-movie Bullitt that were filmed there.
Jack Kerouac
 Former well-known residents include Beat Generation writers Neal Cassady and Jack Kerouac and current California Governor Gavin Newsom.
California Governor Gavin Newsom.
Part of the new home was originally a home built soon after the 1906 earthquake by Willis Polk who was one of San Francisco's top luxury-home architects.
Ghirardelli Square 
Constructed over a period of six years on two lots consisting of the main house and a wellness cottage at the end of a wide lawn, the residence contains six bedrooms and eight baths on three floors via a glass-enclosed elevator. 
Fisherman's Wharf 
The top floor includes a master suite with a balcony overlooking the garden. The next floor is all about entertaining along with two guest suites. 
San Francisco Art Museum
A two-story subterranean gallery with skylights has multiple options for use such as an art gallery, sports court or event space, and an upper-level balcony has a 2,000-bottle-wine wall and a wine room.
Joel Goodrich
The four-car garage has a turnstile with a covered entrance and extra parking. A stand-alone cottage at the end of the lawn is designed strictly for pampering and offers the luxury of a steam room, massage room and sauna.

Grounds contain a wide expanse of lawn with rose and perennial gardens watered by rain collection from the roof. 
Josh Altman
Outdoor dining under the pergola hung with crystal chandeliers, fireplace and a full outdoor kitchen offers elegant entertaining and big views from the 40-foot cantilevered, infinity-edge swimming pool. 
Emphasis has been placed on ease of hosting intimate gatherings for groups up to 350 guests and is ideal for events and large functions.
Matthew "Matt" Altman
Designed by Troon Pacific using materials and construction methods geared for sustainable living along with advanced technology, the home also offers some surprises like a television inside the master bedroom’s shower and glamorous chandeliers over the outdoor-dining table.
 Listing agents are Joel Goodrich of Coldwell Banker, San Francisco and Josh and Matt Altman, Douglas Elliman, Beverly Hills.
Genelle C. Brown
Content Manager, Media Division
Phone:  434-480-4504

Twitter:  @toptenrealestat

Rob Lowe’s Georgian Colonial Estate Going for $42.5 Million in Montecito, CA

Film and television star Rob Lowe has his 10,000-SF Georgian Colonial-style home in Montecito, CA on the market
for $42.5 million

Photo credit: Compass Realty        Source: www.theagencyre.com

MONTECITO, CA -- Star of St. Elmo’s Fire, The Outsiders and the award-winning political sitcom West Wing, Rob Lowe owns one of the most stunning estates in California’s star-studded enclave, Montecito. 

Aptly named Oakview, he has listed it for $42.5 million, according to

Rob Lowe

Nestled into 3.4 manicured acres, the 10,000-square-foot Georgian Colonial-style home is reminiscent of Lowe’s Charlottesville, Virginia birthplace.

Poolside at the Rob Lowe estate

 Bright white and filled with California sunshine and Pacific Ocean views, the Lowe home has six bedrooms, eleven baths, large open formal rooms, a huge white and cheerful family kitchen, separate catering kitchen, wine room, multiple living and dining areas, professional theater and an expansive master suite. 

Oprah Winfrey

Additional details like vaulted ceilings, handmade crown moldings, custom millwork, and view-framing windows add architectural charm. 

Ellen DeGeneres

Also included is an office, library-music room with bar, and a family room. There are nine indoor fireplaces throughout the house with one in the master suite. 

Gwyneth Paltrow

Outside is a full outdoor living room with wood-burning fireplace, koi pond, large swimming pool, a tennis court with viewing area and rolling lawns and gardens large enough for team sports with mature oak trees and a vegetable garden. 

Julia Louis-Dreyfus

Also on the grounds are a swimming pool and spa, two-bedroom guest house, one-bedroom pool house with staff quarters and outdoor kitchen.

First discovered by wealthy families from the East Coast and Midwest when the film industry was born, stars were drawn to Montecito for its privacy, hot springs, proximity to services in Santa Barbara and its climate which is warmer in the winter and cooler in the summer than more western Southern California locations.

Today, the list of residents reads like a Who’s Who of Celebrities including Oprah Winfrey, Ellen DeGeneres, Gwyneth Paltrow and Julia Louis-Dreyfus. The buyer of the Lowe estate will not be able to avoid rubbing elbows with celebrities.
Now 55 and not looking a day over 30, Rob has had a busy career in both film and television and is still lighting up the screens.

He has earned two Screen Actors Guild Awards and has been nominated for six Golden Globe Awards and a Primetime Emmy Award.

 Starting out at age 19 in the movie hit The Outsiders in 1983 and St. Elmo’s Fire in 1985, his good looks and evolving acting skills kept his teenage fans who are now middle age and binge watching him on The West Wing reruns.

Rob starred as Dr. Ethan Willis on the medical drama Code Black, appeared in Super Troopers 2 and in the A&E reality series The Lowe Files with his two sons, Matthew and John Owen.

Rob Lowe and wife Sheryl

He has recently been performing a one-man show Stories I Only Tell My Friends: Live and will be back on television in early 2020 on Fox in 9-1-1: Lone Star about L.A. first responders.

Rob Lowe and sons Matthew (left) and John Owen
Reminiscent of the country estates in Charlottesville, Virginia where he was born, Rob Lowe and his wife recreated a classic East Coast-style estate in 2009 in the celebrity outpost of Montecito, California.
Listing agents are Eric Haskell of The Agency, Beverly Hills and Luke Ebbin of Compass, Santa Barbara.

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

Twitter:  @toptenrealestat

JLL arranges $14.25 million financing for Arbor Terrace in San Diego, CA

Rendering of planned Arbor Terrace, a five-story, 50-unit multi-housing project located in San Diego’s Hillcrest submarket

SAN DIEGO, CA – JLL announced it has arranged $14.25 million in financing for the development of Arbor Terrace, a five-story, 50-unit multi-housing project located in San Diego’s Hillcrest submarket.

JLL worked on behalf of the developer, 325 Arbor Terrace LLC, a partnership owned by the Tibbitts family of San Diego, to arrange the two-year, floating-rate construction loan through Pacific Western Bank.

Arbor Terrace will be developed on a 0.3-acre site at 4186 4th Avenue a few blocks from the 390-bed UC San Diego Medical Center, Hillcrest and the 700-bed Scripps Mercy Hospital San Diego. 

Aldon Cole
Future residents will also have access to the neighborhood’s eclectic entertainment, dining and retail amenities as well as Balboa Park. 

The property’s 50 units will include a mix of studio and one-bedroom units averaging 560 square feet situated above a two-story parking garage. Completion is expected in first quarter 2021.

The JLL Capital Markets team representing the developer was led by Senior Managing Director Aldon Cole.

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


Aldon ColeJLL Senior Managing Director 
CA License No: 01457351
Phone:  +1 858 552 7690

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

JLL arranges $6.8 million loan for Denver, CO retail center

Oneida Park is a 29,186-square-foot retail center that spans an entire city block on both sides of the pedestrian-friendly
 Oneida Street in the Park Hill area of Denver, CO

DENVER, CO, Sept. 3, 2019 JLL announced today that it has secured a $6.8 million refinancing for Oneida Park, a 29,186-square-foot retail center that spans an entire city block on both sides of the pedestrian-friendly Oneida Street between 22nd and 23rd Streets in the Park Hill area of Denver, Colorado.

JLL worked on behalf of the borrower, a private investor, to secure the 11-year term loan with three-years interest only at a 3.68% fixed-rate with a correspondent insurance company lender.

Oneida Park comprises seven buildings that are 100% leased to a curated list of complementary food and service retail businesses along with three multi-housing units. 

Constructed originally between 1948 and 1953, the property recently completed a multi-million-dollar renovation that included new signage, exterior paint, roofs, parking lots, landscaping and development of a central courtyard. 

Situated at 2255 N. Oneida Street, the retail center is in the heart of Denver’s Park Hill neighborhood. The area has access to downtown and Denver's largest open space, City Park.

Kristian Lichtenfels
The JLL Capital Markets team representing the borrower was led by Senior Director Kristian Lichtenfels.

“We secured strong insurance company interest for this refinancing opportunity as a result of the borrower’s significant capital investment and the dynamic tenant mix of high-quality restaurant, food and service focused retailers,” Lichtenfels said.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.


 Kimberly Steele
 JLL Digital Content/PR Specialist
Phone: +1 713 852 3420

JLL closes $93.2 million sale and $67.6 million financing of Two Liberty Center in Ballston submarket of Washington, DC

Two Liberty Center is a 178,700-square-foot, Class A office property at 4075 Wilson Boulevard  in the Ballston submarket
of Northern Virginia.

WASHINGTON, DC  JLL announces that it has closed the $93.2 million sale and $67.6 million financing of Two Liberty Center, a 178,700-square-foot, Class A office property in the Ballston submarket of Northern Virginia.

Susan Carras

JLL represented the seller, Westbrook Partners, and procured the buyer, a joint venture between Hines and funds managed by Oaktree Capital Management, L.P. (“Oaktree”). 

Andrew Weir
Additionally, JLL worked on behalf of the buyer to secure the seven-year, floating-rate acquisition loan through Bank of America.

Repositioned in January 2019, Two Liberty Center is a nine-story office building featuring 20,500-square-foot typical floor plates, a new building lobby, new spec suites and parking for more than 300 vehicles. 

 The office asset has experienced 145,000 square feet of recent leasing activity and is now 95% leased to 16 tenants. 

Located at 4075 Wilson Boulevard, Two Liberty Center is positioned in the heart of the Ballston submarket of Northern Virginia, which is home to many transformative developments. 

They include  Ballston Quarter and Ballston Exchange that will deliver more than 500,000 square feet of retail and entertainment options, as well as more than 2,000 new residential units in additional projects in the immediate area. 

Jim Meisel
Westbrook Partners acquired and completed their business plan for Two Liberty Center inside of two years. 

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Andrew Weir and Jim Meisel, Senior Director Matthew Nicholson, Director David Baker and Executive Managing Director Stephen Conley. 

JLL’s Capital Markets team representing the borrower/buyer was led by Senior Managing Director Susan Carras, Senior Director Rob Carey and Director Drake Greer.

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

Matthew Nicholson

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. 

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.

Dealsecured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019.  Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

David Baker
About Westbrook Partners

Westbrook Partners ("Westbrook"), founded in April 1994, is a privately-owned, fully integrated real estate investment management company with offices in New York, Boston, Washington, D.C., Palm Beach, San Francisco, Los Angeles, London, Munich, Paris and Tokyo. 

Westbrook's professionals are responsible for acquisition, value enhancement, financial accounting and risk management.

Stephen Conley
About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries. 

Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services. 

The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet. 

The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. 

With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit hines.com  for more information.

Rob Carey 

About Oaktree

Oaktree is a leader among global investment managers specializing in alternative investments, with $120 billion in assets under management as of June 30, 2019. 

The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities.  

The firm has over 950 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at oaktreecapital.com

Drake Greer
About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.


 Kristen Murphy, JLL Director, Public Relations
Phone: +1 617 338 0990
Email: Kristen.Murphy@am.jll.com

Arbor Funds $24.5 million in Fannie Mae Small Loans Portfolio Across the U.S.

Essex Avenue/Cottage Grove Avenue/Eberhart Avenue, Chicago, IL
UNIONDALE, NY (Sept. 3, 2019) – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded 11 loans totaling $24.5M under the Fannie Mae Small Loans program:

·        Humani Court, Lake Park, FL
              This 60-unit, two-story building offers easy access to local transit, shopping, parks and
educational institutions. Built in 1975, the property received $5.5M in acquisition funding.

·        Westwood Apartments, Durango, CO
      This property is close to downtown Durango, with access to walking paths, mountain
biking trails and entertainment. The property received $4.3M in refinance funding.

Jared Stein

·       Essex Avenue/Cottage Grove Avenue/Eberhart Avenue, Chicago, IL
      This complex is comprised of three buildings and 77 units. Located on the South Side of Chicago, the properties received $2.4M in acquisition funding.

·        Phoenix Apartments, Lexington, KY
     This 72-unit, three-story property features amenities such as high speed internet access, air conditioning and ceiling fans, and a pool. Built in 1964, Phoenix Apartments received $2.3M in acquisition funding.

·        Branders Bridge Townhomes, Colonial Heights, VA
      Built in 1992, this 64-unit, two-story community offers renovated homes with new
appliances and large bedrooms with ceiling fans. Funded through a $1.9M acquisition
loan, Branders Bridge is close to local transportation options.

·       6938 South Clyde Avenue, Chicago, IL
      Built in 1928, this three-story apartment building received $1.8M in acquisition funding. It is located near a variety of restaurants and shopping venues.

Humani Court, Lake Park, FL

·        Cedarvale Apartments, Bakers Field, CA
This 40-unit, two-story building features balconies and patios, with easy access to local shopping, parks and recreation. The loan provides $1.6M cash-out refinancing.

·        Sandstone Apartments, Weatherford, TX
                Built in 1968, this 26-unit, two-story multifamily property received $1.3M in refinance
            funding. The community has several shopping alternatives nearby.

·        Twin Pines at Mather Station (El Caprice), Cordova, CA
      Built in 1972, this 12-unit, two-story complex received $1.3M in acquisition funding and features high speed internet access, dishwashers, balconies and convenient access to transit and local shopping.

Westwood Apartments, Durango, CO

·        7822 South Shore DriveChicago, IL
      A 20-minute commute from downtown Chicago and three blocks from the lakefront, this property is in an up-and-coming neighborhood that’s close to public transportation, shopping and dining. The loan provided $1.1M in acquisition funding.

·       6751 South Chappel Avenue Chicago, IL
     These apartments are close to local schools, groceries, coffee shops and restaurants, as well as a nature sanctuary. A vintage building constructed in 1916, 6751 Chappel Avenue was funded through a $1M acquisition loan.


 Bina Handa
Tel: 516.506.4229