Boston’s Historic Copley Square Hotel sells

Copley Square Hotel, 47 Huntington Avenue, Boston’s high-end Back Bay neighborhood

BOSTON, MA – JLL announced it has closed the sale of Copley Square Hotel, a 143-room independent boutique hotel in Boston’s high-end Back Bay neighborhood.

Denny Meikleham

JLL marketed the property on behalf of institutional clients managed by Barings, one of the world’s largest real estate investment managers. 

Hawkins Way Capital purchased the hotel unencumbered of existing brand or management.

Built in 1891, the Copley Square Hotel is an historic boutique hotel that provides guests with modern amenities, including large room layouts with 250-degree city views, 1,500 square feet of meeting and event space, a 24-hour fitness center, nightly wine-down hour and 11,800 square feet of retail that includes 2,800 square feet of vacant ground-floor retail and a lower-level nightclub. 

Alan Suzuki 

Situated at 47 Huntington Avenue, the hotel is nestled in one of Boston’s most desirable neighborhoods, Back Bay. 

The live-work-play area houses shopping, restaurants and an abundance of popular demand drivers, including the world-renowned Newbury Street, nationally acclaimed colleges and universities, Fenway Park, the Prudential Center and strong corporate demand generated by numerous Fortune 500 companies.

The JLL Capital Markets team was led by Managing Director Denny Meikleham, Senior Director Alan Suzuki and Director Matt Enright.

Matt Enright

“Buyer interest in the Copley Square Hotel was extremely competitive, driven by the strength of the Boston Lodging market and the numerous value-add opportunities buyer’s saw in the property,” Meikleham said.

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. 

Lew Wolfe

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

According to a 2019 JLL Hotel Investment Outlook Report, global hotel transaction volumes are predicted to reach $67 billion by the end of the year. 

In the U.S., the outlook for hotel investments is relatively positive, with the market upholding 2018’s level of transactions.

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.

About Hawkins Way Capital

Hawkins Way Capital is a vertically integrated real estate company based in Beverly Hills, California, focused on value-added and opportunistic investments and developments across various asset classes and geographies. 

Karan Suri 

The company, led by managing partners Ross Walker and Karan Suri and advising partner Lew Wolff, manages equity funds for select family offices and institutions. 

Hawkins Way’s portfolio currently includes owning and operating hospitality and multifamily units throughout the United States. 

About Barings

Barings is a $335+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. 

Ross Walker

Through active asset management and direct origination, Barings provides innovative solutions and access to differentiated opportunities across public and private capital markets. 

A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.

*As of September 30, 2019.

Contact:

 Kimberly Steele

 JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email:  Kimberly.Steele@am.jll.com

jll.com.
hawkinsway.com 

Proper Title, LLC, Enhances Rapidly Growing Commercial Title Insurance Team With Two New Hires

Angie Yoo

                                                                                         

CHICAGO, IL – Proper Title, LLC, the Palatine, Ill.-based title insurance agency serving the residential and commercial real estate industries, announced it has hired Richard Rischall as a commercial account executive, and Angie Yoo as a senior transaction manager.

Richard Rischall 

Both professionals have joined the firm’s commercial team, a group whose closings for the first three quarters of 2019 are 45% higher than the same period in 2018.

Kim O’Donnell

“We’re handling nearly twice as many commercial closings this year compared to last year, and the value of those closings has risen, often up to $100 million versus an average of $5 million per closing a year ago,” said Kim O’Donnell, vice president of business development for Proper Title.

 “To service our surging commercial growth, we’re focused on adding top tier talent, which includes Richard and Angie as they are both known for providing top-notch customer service and responsiveness to their clients.

"Richard has in-depth knowledge of commercial lending and vast experience in managing multi-million-dollar client portfolios. And Angie’s experience on high-profile commercial closings in Chicago’s hottest downtown submarkets aligns perfectly with Proper Title’s commercial growth goals.”

Amanda Ley

Rischall joins Proper Title after 17 years as a commercial banker, most recently with a Wintrust Community Bank. He formerly was a client that exclusively used Proper Title as his title agency.

 At Proper Title, he will focus on growing the firm’s commercial closing business by obtaining and managing partnerships with financial institutions, attorneys, developers and commercial real estate firms throughout Chicagoland.

Rischall has a bachelor’s degree in psychology from Bradley University in Peoria, Ill., and a master’s degree in industrial/organizational psychology from Illinois Institute of Technology in Chicago.

Angela Castillo

 Rischall also serves on the executive board at Volunteer Center of McHenry County and supports various charitable causes related to fighting cancer and animal welfare.

“Proper Title has some of the most experienced commercial closers around that relish a good challenge – they thrive on finding solutions that get the deal done,” said Rischall.

Beth LaSalle

“I’m excited to bring my experience in commercial closings to this high-energy group and helping them secure even more commercial title work throughout the Chicago area.”

Real estate veteran Angie Yoo joins Proper Title after serving nearly 16 years at Chicago Title Insurance Co., where she was an associate commercial underwriter.

Kathy Kwak

Yoo has extensive knowledge of residential and commercial real estate transactions locally and nationally. She has handled the commercial closings of many high-profile hotels, retail stores, grocery chains, office buildings and new developments in the Fulton Market District and West Loop areas.

Her annual closing revenue has been in excess of $1 billion consistently for the past 10 years. Yoo has a bachelor’s degree from Indiana University in Bloomington, Ind.

Gabe Krych

“As our team expands, we’re thrilled to have Angie partner with us as she’s experienced some of the most complex commercial closings in Chicago,” O’Donnell said. “Like the rest of us, she is passionate about providing top-notch customer service.”

In addition to Rischall and Yoo, Proper Title’s commercial team has grown significantly in recent years with the hiring of O’Donnell; Geneen Skilton and Angela Castillo, both commercial title examiners;

Patrick Kennedy

Patrick Kennedy, commercial closing manager; Beth LaSalle, senior commercial escrow officer; Amanda Ley, senior escrow officer; Neil Narut, senior underwriting counsel; Kathy Kwak, director of title; and Gabe Krych, commercial underwriter and consult.

Launched in 2013, Proper Title was recently recognized as one of Chicago’s “2019 Best Places to Work,” an annual ranking of 100 companies compiled by Crain’s Chicago Business and was the recipient of the “Excellence in Action” award from Fidelity National Title Group, Inc. for the fifth year in a row.

Neil Narut

About Proper Title, LLC:

Palatine, Ill.-based Proper Title, LLC, is a full-service title insurance agency serving the residential and commercial real estate industries.

Since its founding in 2013, Proper Title has substantially grown its transaction volume in just a few years with its commitment to servicing the needs of its clients and is currently the second-largest title insurance agency in Illinois.

The firm has earned the “Rising Star / Excellence in Action” award by Fidelity Investments for the past five years in a row. With eight closing locations in Cook, Lake, DuPage and Kane counties, Proper Title is able to deliver an exceptional title experience throughout the Chicago area and the Midwest.

 For more information, please visit propertitle.com.

CONTACTS: 

Paula Widholm, pwidholm@taylorjohnson.com, (773) 726-7993

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Levin Johnston Successfully Directs Over $360 Million in 1031 Exchange Transactions in San Francisco Bay Area

Broadway Apartments sold for $3.525 million at 1123 Chula Vista Avenue, Burlingame, CA

BAY AREA, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, recently directed the sale of a mixed-use property featuring three retail suites and seven multifamily units in San Francisco, California and the acquisition of Broadway Apartments, an eight-unit multifamily property in Burlingame, California, on behalf of a single client in a 1031 exchange transaction, according to Adam Levin, Executive Managing Director of Levin Johnston.

Adam Levin

With these trades, Levin Johnston has successfully directed 1031 exchanges with a total year-to-date transaction volume of more than $360 million, all in the San Francisco Bay Area, notes Levin Johnston’s Senior Managing Director, Robert Johnston.

 “With this 1031 exchange, we were able to help the buyer of Broadway Apartments trade out of a multifamily and retail property, subject to San Francisco’s tight rent regulations, and into an apartment community in a highly affluent submarket that offers significant upside potential,” says Johnston.

 “Based on our deep and long-standing relationships with the parties involved, we strategically negotiated a satisfying close of the acquisition of Broadway Apartments, within just six weeks of the sale of the mixed-use asset.”

Robert Johnston

Burlingame is located in the heart of Silicon Valley and known for its high quality of living. 

Broadway Apartments offers residents close commutes to some of the nation’s top tech employers including Oracle, GoPro, EA, Facebook, Cisco Systems, Visa, Sony, and many others.

The property is also in short walking distance of both a Caltrain station and a free trolley service that provides transportation to and from nearby Downtown Burlingame’s high-end shopping, dining, and entertainment options.

Broadway Apartments features eight studio apartments with a one-to-one parking ratio.

The mixed-use asset is located at 310 Otsego Avenue in San Francisco, California and sold for a total purchase price of $2.075 million. Broadway Apartments sold for $3.525 million and is located at 1123 Chula Vista Avenue in Burlingame, California. Levin Johnston also represented the seller of Broadway Apartments.

Levin Johnston has completed over $540 million in sales in 2019 to date, demonstrating continued health in the commercial real estate market in this region. 
For more information about the firm’s $100 million in available properties, please visit www.levinjohnston.com.

Contacts:

Alex Caswell / Jenn Quader 

Brower Group

(949) 438-6262

acaswell@brower-group.com

levinjohnston.com

Daum Commercial Completes Sale of Rare 48,000-SF Warehouse with Showroom in Tempe, AZ

48,000-SF warehouse with showroom, 7200 South Priest Drive, Tempe, AZ

TEMPE, AZ – DAUM Commercial Real Estate Services has completed the sale of an industrial and retail warehouse including a showroom, totaling more than 48,000 square feet, in Tempe, Arizona, on behalf of the seller.

 The total purchase price was approximately $4.5 million.

Ryan Reisman

The buyer, apparel company Dixxon Flannel Co., is relocating and expanding from a smaller property in Tempe with this acquisition. The previous owner, a furniture store, decided to sell the asset upon closing operations following 40 successful years in the greater Phoenix area, according to Ryan Reisman, an Associate at DAUM’s Phoenix office.

Reisman finalized the sale with support from DAUM colleagues Chris Rogers, Executive Vice President; Trevor McKendry, Executive Vice President; and Steve McKendry, Executive Vice President. 

Chris Rogers

“This highly visible, rare property is ideally situated in an area with limited inventory that is experiencing high demand, which resulted in our Client receiving several competitive offers,” explains Reisman.

He notes that according to a recent DAUM report, the greater Phoenix area achieved a record-high industrial sale volume at nearly $640 million and per-square-foot price increase of 11.6% in Quarter 3.

He also points to the building’s prime location within one mile from Interstate 10 and near several other major thoroughfares, as well as its unique features and functionality, as additional components of its appeal. 

Trevor McKendry

“Ultimately, based on our knowledge of the local industrial real estate market and business climate, we were able to strategically negotiate a satisfying transaction for all parties involved,” says Reisman. 

“This asset is an exceptional space that served our Client well throughout several decades of ownership. Its timely sale and premium price were of critical importance as they move on to their next phase. 

"For the buyer, this building’s large footprint will be key to its future business growth.”

The two-story property sits on 2.6 acres, with a large showroom and office space comprising approximately 13,600 square feet. The first floor includes four office spaces, the showroom, a kitchen, shower, and two bathrooms. 

Steve McKendry

On the second floor, there are six office spaces, a storage area, and a conference room.

Additional building features include 24’ clear height, four dock-high loading doors, and a full sprinkler system.

 Contact:

Elisabeth Manville
Brower Group
(949) 438-6262
emanville@brower-group.com

www.daumcommercial.com.