JLL arranges $33.25 million refinancing for Orange County, CA hotel

164-Room Hampton Inn & Suites Irvine-Orange County Airport, Irvine, CA

SAN DIEGO, CA – JLL announcedit has arranged a $33.25 million refinancing for the Hampton Inn & Suites Irvine-Orange County Airport, a 164-room, limited-service hotel in Irvine, California, less than a mile from the John Wayne Airport, Orange County.

JLL worked on behalf of the borrower, Orange County-based S3 Hotel Group, to place the 10-year, fixed-rate loan with a CMBS lender.

Hampton Inn & Suites Irvine-Orange County Airport is at 2192 Dupont Drive in the heart of Orange County within steps from the John Wayne Airport, which serves more than 10 million passengers yearly and is a strong generator of both business and leisure demand for the submarket. 

Olga Walsh

The hotel is proximate to several area demand drivers and popular entertainment venues, including Disneyland; University of California, Irvine; the Honda Center, home to the Anaheim Ducks NHL team; Angel Stadium of Anaheim, home of the Los Angeles Angels MLB team; and 23.7 million square feet of office space in the Airport Area Office market. 

Completed in March of 2018, Hampton Inn & Suites Irvine-Orange County Airport features a fitness room, pool, business center, meeting space, complimentary breakfast, lounge and snack shop.

The JLL Capital Markets team representing the seller was led by senior managing director Scott Hall and Director Olga Walsh.

Scott Hall 

“The Hampton Inn & Suites Irvine-Orange County Airport is able to capture diverse guest segments due to its strategic location in the heart of one of the nation’s most populous and affluent regions,” Walsh said. 

“We were able to conduct an expedient marketing campaign that resulted in 10 competitive loan quotes from top-tier CMBS lenders and specialty balance sheet lenders, validating the abundance of liquidity in the debt capital markets.”

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

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.                                         

Contact:

  Scott Hall, 

JLL Senior Managing Director

Calif. License #: 01917029

Phone:  +1 858 552 7690

Email:  scott.hall@am.jll.com

 Kimberly Steele 

JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: kimberly.steele@am.jll.com

RCC Associates Selected as General Contractor for Punch Bowl Social Wynwood, Miami, FL

Robyn Raphael-Dynan

Miami, FL, Dec. 5, 2019 — RCC Associates, the premier South Florida-based general contractor specializing in restaurant and hospitality construction, announced today that it has been selected as the general contractor for Punch Bowl Social, the award-winning “eatertainment” concept,  that is coming to the Wynwood Arts District of Miami, FL.

“We are thrilled to have been selected as the general contractor for this highly anticipated venue,” said Robyn Raphael-Dynan, Vice President of Operations for RCC Associates.

 “We’re excited to be part of the team launching this innovative concept in Miami and to help showcase the dynamic atmosphere that Punch Bowl Social is known for.”

The 23,000-square-foot space, which is on the ground floor level of the Wynwood Garage, will offer “the great energy and entertainment” that people come to Wynwood for, all under one roof. 

Founded by CEO Robert Thompson, Punch Bowl Social is an experiential lifestyle brand for the millennial and Gen Z generations, pairing scratch-made dishes and craft beverages with social gaming in a design-forward environment.  

Punch Bowl Social Miami will feature an expansion selection of social games and activities, paired with a made-from-scratch menu including dishes such as a Superfood Grain Bowl, Shrimp Burger with Old Bay Mayo, Crab Cheese Rangoon Dip and Cocoa Dusted Carnitas Tacos. 

Robert Thompson

The craft beverage program features signature punches, a robust and creative nonalcoholic cocktail menu, fresh juices and local craft beers. 

As general contractor, the RCC team is responsible for the project management, coordination, construction progress documentation and all construction and work-site management of the build-out, including delivering the project on schedule and within budget.

Construction is currently underway, and the venue is slated to open in early 2020.

CONTACTS:

Nicole Lewis

Vice President of Public Relations
Kip Hunter Marketing

888 E. Las Olas Blvd., Suite 500

Ft. Lauderdale, FL 33301
Phone: 954-765-1329

Cell: 305-803-9177
Fax: 954-524-3047

Nicole@kiphuntermarketing.com

www.kiphuntermarketing.com

Nicole Kasak // NKasak@kiphuntermarketing.com

www.rccassociates.com or call (954) 429-3700.

JLL arranges $36 million financing for Atlanta-area apartments

Kristian Lichtenfels

DENVER, CO – JLL announced it has arranged $36 million in acquisition financing for The Reserve at Ridgewood, a 269-unit, garden-style apartment community in the Atlanta suburb of Sandy Springs, Georgia.

JLL worked on behalf of the borrower, Resolute Real Estate, to place the 12-year, fixed-rate loan with three years of interest-only payments with a correspondent lender.

The Reserve at Ridgewood consists of one-, two- and three-bedroom apartments ranging from 854 to 1,530 square feet. All homes feature stainless steel appliances, full-size washers and dryers, screened-in patios and balconies and wood burning fireplaces. 

Eric Tupler 

Community amenities include a resort-style pool, expansive sundeck with cabanas, tennis court, playgrounds and a 24-hour fitness center that extends into an outdoor fitness area. 

The Reserve at Ridgewood is located at 7100 Roswell Road approximately 15 minutes north of downtown Atlanta near the shoreline of the Chattahoochee River. 

The suburban location positions residents near major employers, including the recently opened Mercedes-Benz USA Headquarters, as well as dining, retail and outdoor recreation amenities. The property is 94% occupied.

The JLL Capital Markets team representing the borrower was led by Senior Director Kristian Lichtenfels, Senior Managing Director Eric Tupler and Director Ware Shipman.

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

Ware Shipman

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: 

Olivia Hennessey

 JLL Public Relations Specialist 

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

 jll.com.

NAI Realvest’s Veronica Malolos Earns Prestigious CCIM Designation

Veronica Malolos

KISSIMMEE, FL and ORLANDO, FL -- Veronica Malolos, Osceola County broker at NAI Realvest, has been awarded the Certified Commercial Investment Member (CCIM) designation from the CCIM Institute recognizing her as an expert in the disciplines of commercial and investment real estate.      

Malolos completed all of the requirements including the Institute’s comprehensive studies and testing, and demonstrated a vast portfolio of experience.  CCIMs must be proficient in the areas of investment analysis, market analysis, user decision analysis and financial analysis for commercial real estate.   

Patrick Mahoney, President and CEO of NAI Realvest said in addition to this achievement Malolos is an established leader in Osceola County and serves as Chairwoman of the County’s Planning Board.  

Patrick Mahoney

She has more than 15 years of experience in commercial real estate focusing on tenant representation, brokerage, investment, development, sales and leasing.  

Among the more than 150,000 commercial real estate professionals in the United States , only an estimated 6 percent hold the CCIM designation.    

 CCIM members are responsible for an approximate US$400 billion annually of real estate transactions globally. CCIM Institute is a commercial affiliate of the National Association of Realtors and is headquartered in Chicago .

CONTACTS:

Veronica Malolos, CCIM, CRB, CIPS, MiCP  Osceola County Broker, NAI Realvest 407-875-9989 or vmalolos@realvest.com

Patrick Mahoney, President / CEO, NAI Realvest, 

407-875-9989 or pmahoney@realvest.com

Beth Payan, Larry Vershel Communications Inc.

 407-644-4142 or 407-461-3781 Lvershelco@aol.com   

JLL closes sale of Seattle-area retail center

Covington Esplanade, a 187,388-square-foot shopping center in the suburban Seattle community of Covington, WA

SEATTLE, WA – JLL announced  it has closed the sale of Covington Esplanade, a 187,388-square-foot, daily needs-focused neighborhood shopping center in the suburban Seattle community of Covington, Washington.

JLL marketed the property on behalf of the seller. Weingarten Realty Investors purchased the asset.

Anchored by Home Depot, the 97.7%-leased Covington Esplanade is also home to Red Robin, NorthWest Family Dental Care IHOP, Bank of America, Verizon, Starbucks and more. 

Nick Kassab

The property was completed in 2008 and comprises seven separate parcels with uniform facades.

 The center is situated on 15.34 acres at 27027 SE 185th Avenue in Covington, a community equidistant between Seattle and Tacoma downtowns. 

Covington Esplanade is just off Highway 18, a major thoroughfare connecting south King County with Interstate 90, and has frontage along Highway, exposing the center to a combined traffic count of 65,000 vehicles per day.

 It is in a rapidly growing trade area and is visible to more than 66,000 vehicles per day. Additionally, more than 50,800 residents earning an average annual income of $112,359 live within a three-mile radius of the property.

The JLL Retail Capital Markets team that represented the seller included Senior Director Nick Kassab and Managing Director Bryan Ley.

“We are pleased to announce the sale of Covington Esplanade,” Kassab said. “Opportunities to acquire large, top-performing retail assets in the Seattle MSA are rare. We want to congratulate both the buyer and seller on this successful transaction.”   

Bryan Ley

According to a recent JLL Retail Outlook report, second-quarter 2019 net absorption in U.S. shopping centers (i.e., community, neighborhood and strip centers) remained positive at 1.9 million square feet, with the majority coming from neighborhood center demand. 

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: 

Kimberly Steele

JLL Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: kimberly.steele@am.jll.com

jll.com.

weingarten.com.