Saturday, September 7, 2019

Song Writer Irving Berlin’s East End Penthouse in New York City Going for $4 Million


Former East End duplex penthouse in New York City where
song writer Irving Berlin and wife Ellin lived for 13 years
in the 1930s and 1940s
Photo credit: Warburg Realty


NEW YORK CITY, NY -- One of the most prolific and important songwriters of the 20th century, Irving Berlin lived in this East End duplex penthouse in New York City with his wife, Ellin, which they bought in 1931 when he was 43.

Irving Berlin and wife Ellin
(Photo credit: Alamy)

According to TopTenRealEstateDeals.com, they lived there for the next 13 years and no doubt inspired by its exceptional views over the East River and the city, it was where he wrote I’ve Got My Love to Keep Me Warm, Say It Isn’t So and introduced God Bless America, which he had written years earlier.

Now on the market, it is priced at $3.995 million.

Occupying a duplex penthouse in a building built in 1929, it is located in the East Side’s Yorkville neighborhood advantageously situated overlooking the greenery of Carl Schurz Park with wide river and city views from the terraces and large windows that surround three sides of the home.

Debra Messing
 The main floor opens to a foyer with circular stairs, a living room with 28-foot ceilings and five large windows framing the view, a wood-burning fireplace and access to the wraparound terrace.

There is also a formal dining room that opens to a four-season sunroom with access to the terrace.


Ricky Martin
The lower level also contains the kitchen and one bedroom and bath formerly used as staff quarters. Upstairs is a large library with a wall of windows that opens to the top terrace, two bedrooms including the master, and two baths, all with mesmerizing views.

New York’s hidden Yorkville neighborhood has attracted the monied elite for years and has drawn celebrities such as actress Debra Messing, singer Ricky Martin, baseball-star Johan Santana and many other 20th-century notables.
Living in this apartment represented a major achievement for Berlin, who was born in Siberia and whose parents immigrated to New York when he was a child.

Johan Santana

 He forged a living from the only thing he could think of to do - singing in local establishments and writing songs he thought the locals would enjoy.

 By the time Berlin and his wife moved into this apartment, he had written hundreds of songs and was fast becoming known as the songwriter who represented the soul of America with songs and lyrics that appealed to the average American.

In his lifetime of 101 years, Berlin’s songs have become a large part of the Great American Songbook.





 Already a legend at age 30, by his death in 1989 he had written over 1,500 songs, the scores for 20 Broadway shows and 15 films with eight of those songs nominated for Academy Awards.

Berlin’s passion for his adopted country was evident through his music and the way he assigned royalties in order to give back to organizations like the Girl and Boy Scouts and the World War II war effort, which accrued millions.

Irving Berlin in a playful mood

Throughout his life he returned to the neighborhoods where he struggled to survive as a young boy reminding himself of the gift of opportunity that the United States had provided.

The Upper East Side duplex penthouse is listed by Jane Andrews
with Warburg Realty, Madison Avenue in New York City.

CONTACT:

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

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL arranges equity for Tysons Corner apartment development in Northern Virginia


Rendering of planned Hanover Co. apartments at Tysons Corner
in Northern Virginia




HOUSTON, TX JLL announced  it has arranged joint venture equity for The Hanover Company’s 412-unit apartment development with ground-floor retail in Northern Virginia’s Tysons Corner submarket.

Cortney Cole

JLL worked on behalf of The Hanover Company to arrange the joint venture equity partnership with PCCP, LLC.

The property will be situated on a 5.86-acre site at 1500 Westbranch Drive near major area employers and more than six million square feet of retail in the surrounding area.

 In addition, the transit-oriented development will provide access to the Capital Beltway, the 495 Express Lanes, the Dulles Toll Road and Metrorail’s Silver Line. 

Brian Crivella
The six-story property will encompass a mix of 343 market-rate and 69 affordable units, which will average 889 square feet, along with nearly 3,000 square feet of ground-floor retail and 596 residential parking spaces. 

The project will feature best-in-class unit finishes and common area amenities, including a professionally landscaped courtyard with resort-style pool, firepit and grilling area; clubhouse with demonstration kitchen and multimedia area equipped with a cinema with stadium seating, gaming activities and televisions; fitness center and business/conference rooms. 

Completion is expected in late 2021.

The JLL Capital Markets team representing the sponsor was led by Managing Directors Cortney Cole, Brian Crivella and Walter Coker.

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. 

Walter Coker
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.

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.
  
Contact: 

Olivia Hennessey
JLL Public Relations Specialist 
Phone: +1 713 852 3403
Email: Olivia.Hennessey@am.jll.com


MC Real Estate Partners Acquires Executive Plaza Office Complex in Rockville, MD


Executive Plaza, Rockville, MD

Sue Carras
ROCKVILLE, MD  –– MC Real Estate Partners LLC (“MCRE”) and an institutional partner have acquired Executive Plaza, in Rockville, Maryland. 

Chris Hew
 This is the second office acquisition for the recently formed company founded by Andy Nathan and Steve Grant as the successor to their predecessor firms Meritage Properties and ClearRock Properties. 


Andrew (Andy) Nathan
 The 327,000 sf property, which has been significantly renovated over the past several years, sits a short walk from the dynamic Pike and Rose mixed use development and the White Flint Metro station.

“MCRE is thrilled to have made our first D.C. area acquisition so soon after our formation,"  said Nathan, managing principal of MCRE.   

"Steve and I have each been active locally for over 20 years and see Executive Plaza as an ideal addition to our portfolio. The Property has all a tenant could ask for – outstanding amenities, great light throughout and flexible floorplates – ideally located near highways, mass transit, retail and housing. 

Steve Grant
"Angelo Gordon and Monument did a wonderful job repositioning Executive Plaza and we look forward to guiding the asset through its next level transformation.” 

MCRE has retained The Polinger Company to provide on-site property management services and Bob Dickman from Avison Young as its leasing Agent.

Jim Meisel and Matt Nicholson of Jones Lang LaSalle (“JLL”) represented the seller and sourced the buyer for this transaction with mortgage brokerage services provided by JLL’s Sue Carras and Chris Hew.

CONTACT:

Kristen Murphy
Director, Public Relations
JLL Capital Markets
One Post Office Square, Suite 3500
Boston, MA 02109
T +1 617 338 0990
M +1 617 543 4873


JLL closes $45 million sale of Gateway Professional Center in Sarasota, FL



Gateway Professional Center, a four-building, Class A office complex totaling 246,941 square feet in Sarasota, FL

MIAMI, FL – JLL announced it has closed the $45.2 million sale of Gateway Professional Center, a four-building, Class A office complex totaling 246,941 square feet in Sarasota, Florida.

JLL represented the seller, TerraCap Management LLC, and procured the buyer, Taurus Investment Holdings. 

 Ike Ojala
Gateway Professional Center comprises four buildings located at 301, 401, 501 and 551 N Cattlemen Road in Sarasota.  

The properties have visibility and frontage along Interstate 75, one of Florida’s major north-south arteries and are proximate to many of Sarasota’s key business drivers and major attractions, including Downtown Sarasota, The Mall at University Town Center, Lakewood Ranch, Lido Key Beach and the Sarasota-Bradenton International Airport.  

Overall, Gateway Professional Center is 95.1% leased to a diverse tenancy comprising accounting, insurance, engineering and technology companies.  

The Class A office complex offers a highly coveted amenity package, including adjacent restaurants, a fitness center and a conference center, in addition to parking for more than 1,150 vehicles.

Hermen Rodriguez



The JLL Capital Markets team representing the seller was led by Senior Director Ike Ojala, Senior Managing Director Hermen Rodriguez and Director Matthew McCormack.

“This was a well-timed, deep value, off market transaction that has performed quite well for our investors in Fund III,” said W. Stephen Hagenbuckle, Founder and Managing Partner of TerraCap.  




“The TerraCap asset management team led by Albert S. Livingston and Chris Thompson along with solid leasing efforts in recent years has created great long-term stabilized income for the buyer of this Class A office campus in booming Sarasota.  The entire process has been quite rewarding on many fronts.”

Matthew McCormack
“Gateway Professional Center is a fully-amenitized, institutional-quality asset in Sarasota, a high-demographic rapidly growing market, which attracted numerous bids from national investors,” Ojala said.  

“The I-75 location provides exceptional accessibility throughout the region and active residential, hotel and retail development in the surrounding area is further adding to the strong amenity base”

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. 

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.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.   

                                                          
W. Stephen Hagenbuckle
                                                                                                                          

About TerraCap Management, LLC

TerraCap Management, LLC considers thematic factors such as business formation, employment growth and population growth on a market-by-market basis, as most metros and submarkets have different economic-based industries and therefore move through their economic cycles differently.  

TerraCap makes moderate strategic overweighting or underweighting to markets, depending on the specific economic drivers influencing supply and demand.  

The investment manager has been in operation since 2008 with offices located in Estero, Florida, Tampa, Florida, and the Atlanta, Georgia, metro area. 
Albert S. Livingston

 As operators, TerraCap believes it can make decisions more efficiently while leveraging expertise from property to property.  More information about TerraCap Management is available at terracapmgmt.com.


About Taurus Investment Holdings LLC

Founded in 1976 and headquartered in Boston, Taurus Investment Holdings is a global investor, developer, owner, and operator of real estate with operations in 15 markets and four continents. 


Chris Thompson
Since inception, Taurus has purchased and sold more than 40 million square feet of industrial, residential, office, retail, and other commercial real estate assets throughout the world, with a total acquisition value of over $6.5 billion.

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, visit jll.com.
  
Contact:

 Kristen Murphy
JLL Director, Public Relations
Phone: +1 617 848 1572
Email: Kristen.Murphy@am.jll.com

JLL arranges $23 million financing for two Denver-area apartments


 Phenix at Infinity Park I and II Apartments,
Glendale, CO

DENVER, September 5, 2019 – JLL announces it has arranged financing totaling $22.86 million for Phenix at Infinity Park I and II, two adjacent multi-housing properties totaling 185 units in the Denver suburb of Glendale, Colorado.

Working on behalf of Glendale-based Slipstream Properties, JLL arranged two 10-year, interest-only, fixed-rate loans through Freddie Mac’s Green Advantage program. 

The loans will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo lender. Loan proceeds were used to refinance existing loans on the properties.

Kristian Lichtenfels
The Phenix at Infinity Park I and II are situated along East Mississippi Avenue and South Dahlia Street one block southeast of Infinity Park, a sports, entertainment and events venue. 

In addition, the properties are two miles from the high-end Cherry Creek Shopping Center and approximately five miles southeast of downtown Denver. 

Phase I was most recently renovated in 2011 and Phase II was renovated in 2014. The buildings comprise a variety of one- and two-bedroom units, which are 97% occupied overall.  Community amenities include a swimming pool, dog park, grilling areas and courtyards.

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

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.

Contact:

Olivia Hennessey, JLL Public Relations Specialist 
Phone: +1 713 852 3403
Email: Olivia.Hennessey@am.jll.com

 jll.com

JLL closes the sale of three Maryland retail centers


Frederick Crossing and Frederick County Square, Frederick, MD

MIAMI, FL  JLL announced it has closed the sale of two regional retail properties totaling 522,100 square feet in the Washington, D.C. suburb of Frederick, Maryland, and a regionally dominant power center in the northern Maryland community of Hagerstown.

JLL marketed the property on behalf of the seller, WashREIT. DLC Management Corporation and Acadia Realty Trust purchased two assets, Frederick Crossing and Frederick County Square, and Baltimore-based Continental Realty Corporation (CRC) purchased Centre at Hagerstown.
 
The 331,833-square-foot Centre at Hagerstown was completed
 in 2000 and is 93% leased 

The Frederick, Maryland, portfolio comprises the 294,718-square-foot Frederick Crossing and the 227,382-square-foot Frederick County Square. 

The fully leased Frederick Crossing is a regional power center that is home to a variety of tenants, including Kohl’s, Best Buy, Ross Dress for Less, Off Broadway, Ulta Beauty, Chuck E. Cheese’s, Regency Furniture, Dress Barn and Dollar Tree. 

Kim Flores

The property also is shadow anchored by the region’s only Walmart and adjacent to a 60,000-square-foot office park. It’s situated in an expansive trade area with more than 110,000 residents within a five-mile radius of the property.

Frederick County Square is 92.9% leased to major tenants such as Kmart, JoAnn Fabric & Craft and Advance Auto. 

Daniel Finkle
Situated on 17.63 acres at 1003 W. Patrick Street, the center is surrounded by more than 78,600 residents earning an average annual household income of nearly $70,000 within a three-mile radius of the property.

The 331,833-square-foot Centre at Hagerstown was completed in 2000 and is 93% leased to a variety of tenants, including Books-A-Million, Marshalls, A.C. Moore, Office Depot, Bed Bath & Beyond, PetSmart, Ulta Beauty and Regency Furniture, and is shadow anchored by the region’s only Walmart and The Home Depot.

 Additionally, the center features 10 outparcel pads occupied by nationally recognized restaurant and retail tenants such as Panera Bread, Wendy’s, IHOP, TGI Friday’s and Arby’s. 

Situated at 17850 Garland Groh Boulevard, Centre at Hagerstown has excellent visibility from Interstate 81 (Maryland Veterans Memorial Highway).

Stephen Conley
The JLL Retail Capital Markets team that represented the seller included Senior Managing Director and Co-Head of JLL’s Capital Markets Retail Practice Daniel Finkle, Executive Managing Director Stephen Conley, Managing Director John Owendoff, Director Jordan Lex and Senior Associate Kim Flores.

“The sale of these three assets continues with Washington REIT’s strategic plan to transform its existing portfolio,” Finkle said. “It was a pleasure working with all three groups on the successful execution of these three dominant centers in Frederick and Hagerstown, Maryland.”

This portfolio sale comes on the heels of the recently announced $485M sale of five retail assets in Northern Virginia and Maryland that JLL arranged for WashREIT.

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

John Owendoff
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.
  

About WashREIT

WashREIT (NYSE: WRE) owns and operates uniquely positioned real estate assets in the Washington, D.C. market. Backed by decades of experience, expertise and ambition, WashREIT creates value by transforming insights into strategy and strategy into action. 

Jordan Lex 
As of July 26, 2019, the company’s portfolio of 49 properties includes approximately five million square feet of commercial space and 6,658 multifamily apartment units. 

WashREIT’s shares trade on the NYSE and the company currently has an enterprise value of more than $3 billion. 

With a track record of driving returns and delivering satisfaction, WashREIT is a trusted authority in one of the nation’s most competitive real estate markets. Learn more at http://www.washreit.com.

About DLC Management Corporation

DLC Management Corporation is one of the nation’s preeminent private retail real estate companies, with expertise in acquisitions, new developments, redevelopments, leasing, and management. 

Headquartered in New York, DLC has regional offices in Atlanta, Chicago and Washington, D.C. For additional information about DLC Management Corporation and its portfolio, please visit dlcmgmt.com.
  

Contact:

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