Saturday, September 28, 2019

JLL arranges $9.4 million refinancing for Chicago recreational facility

 The Armoury industrial facility at 404 North Armour Street and 1515 West Hubbard Street in Chicago’s River West submarket
and Kinzie Corridor

CHICAGO,IL JLL announced  it has arranged a $9.4 million refinancing for The Armoury, a 46,040-square-foot infill industrial facility repurposed as an entertainment trampoline park and athletic training facility in Chicago, Illinois.

JLL worked on behalf of the borrower, a partnership between Clear Height Properties (“CHP”) and Diamond Realty Holdings (“DRH”), to place the 9.4-year, fixed-rate loan with a financial holding company.

Christopher Carroll
The Armoury comprises three adjacent industrial warehouses that recently underwent a multi-million-dollar renovation to be repurposed into a modern facility that functions as an entertainment trampoline park and athletic training facility, respectively. 

The property is fully leased to Altitude Trampoline Park, the second largest trampoline park brand in the world, and Performance Training Systems, a private athletic training facility that uses a scientific-based approach to improve clients overall physical performance. 

Located at 404 North Armour Street and 1515 West Hubbard Street in Chicago’s River West submarket and Kinzie Corridor, The Armoury is proximate to The Loop, Fulton Market and Chicago’s Expressway system. It is the only trampoline park in the city of Chicago within an eight-mile radius.

The JLL Capital Markets team representing the borrower was led by Managing Directors Christopher Carroll and Jason Bond as well as Director Lucas Borges. 

Jason Bond 
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.

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

The Keyes Company Closes $5.1 Million Multifamily Sale in Miami, FL

Carmen Siman 

MIAMI, FL --| The Keyes Company’s Carlos Villanueva and Carmen Siman completed the sale of a 30-unit apartment building in Miami for $5.1 million – or $170,000 per unit. The duo listed the 960 S. Le Jeune Road property on behalf of seller Vega’s Apartment Corp.

Villanueva - District Sales Manager of the firm’s Coral Gables office – and Siman were able to close the sale in three months. The buyer is CMC1 LLC of Miami.

The transaction closed on Sept. 13.

Carlos Villanueva
“We are thrilled to help the seller obtain this successful outcome,” Villanueva said. “Demand for multifamily product of all asset types remains incredibly strong throughout Miami-Dade County. This particular building benefits greatly from its location near Miami International Airport.”

Paul Nudelman of Marcus & Millichap represented the buyer in the transaction.

Paul Nudelman 

Keyes Commercial Real Estate ranked No. 10 in the South Florida Business Journal’s annual list of the largest commercial brokerages in South Florida, based on aggregate volume of sales and leases in the region.

In November 2018, Villanueva completed the $5.6 million sale of a portfolio of 57 rental apartments in Miami’s Little Havana neighborhood.
Mike Pappas 
“We congratulate Carlos and Carmen on another tremendous multifamily sale,” Keyes President and CEO Mike Pappas said. “The Keyes Commercial team continues to prove that our firm is a leader across all real estate sectors.”

Keyes is the largest independently owned real estate firm in Florida and a Top 30-ranked firm in the entire United States, and is extremely active in luxury residential real estate. In 2018, Keyes generated $6.7 billion in real estate services across its Family of Companies.


Eric Kalis, BoardroomPR