Lee Iacocca’s Los Angeles Mansion Listed for $27 Million

Iacocca’s Tuscan-style mansion includes 10,682 square feet with five bedrooms and eight baths on over an acre near the Bel Air Country Club near Los Angeles, CA

Photo credit: Hilton & Hyland       Source: www.hiltonhyland.com

LOS ANGELES, CA -- America’s favorite business leader from the 1960s to the ‘90s, one of the many things Lee Iacocca was known for were his famous quotes including “In times of great stress or adversity, it's always best to keep busy, to plow your anger and your energy into something positive.”

Lee Iacocca

 Also, “If you can find a better car, buy it.”

Iacocca, the longtime president of Ford Motor Company and chairman of Chrysler Corporation, could switch from engineering to sales, marketing, CEO, charity fundraising and politics with little effort, according to TopTenRealEstateDeals.com.

Ford Mustang

 After introducing the Ford Mustang, Lee jumped over to Chrysler where he launched the minivan concept, convinced the U.S. government to loan Chrysler $1.5 billion, and saved the company from collapse.

 He was well paid for his talent and by the time he died in 2019, Iacocca was worth $150 million. His beautiful home in Los Angeles, where he lived out his retirement before succumbing to Parkinson’s disease, is for sale at $26.9 million.

Bob and Dolores Hope

Iacocca was born to Italian immigrant parents who moved to Pennsylvania for work in the steel industry and the extended-family hot dog business. 

He proved himself to be a super achiever early on graduating with honors from high school, Lehigh for college and then winning a fellowship to Princeton.

Lee’s genius was in connecting the dots in the roadmap to the future. His celebrity status was cemented with the development of the Ford Mustang in 1964, the most successful new car ever introduced in the U.S. earning a profit over $1 billion in just its first two years, and saving Chrysler from the brink of disaster in 1979.

Frank and Barbara Sinatra

He did his own Chrysler commercials and was a frequent guest on television talk shows. In addition to the auto industry, Lee wrote several best-selling books; was successful in the restaurant, food and gaming businesses and was well known for heading the 1980’s Statue of Liberty restoration.

 He was a serious and popular candidate for U.S. president in 1988, but decided not to run.

 Betty White

Iacocca’s Tuscan-style mansion includes 10,682 square feet with five bedrooms and eight baths on over an acre near the Bel Air Country Club.

There are four ensuite guest rooms, a staff apartment, formal living and dining rooms, panelled library and five fireplaces.

Huge open-plan rooms that spill out onto lovely terraces are perfect for large-scale entertaining while other spaces invite intimate gatherings.

Crafted of luscious materials and craftsmanship, the home is bright and cheerful while retaining an elegant vibe. Immaculate grounds contain mature landscaping with outdoor living areas accented with topiary.

A chef’s kitchen is ready for enjoying family or guests. The master suite has a living area larger than many mansions' formal living rooms on a scale reminiscent of historical times when the aristocracy entertained guests in their private chambers.

 Outdoor recreation includes a swimming pool, spa and tennis courts to be enjoyed year-round in Southern California’s mild climate.

After his death in 2019, automotive-pioneer Lee Iacocca’s estate, where he entertained Bob and Dolores Hope, Frank and Barbara Sinatra, Priscilla Presley and Betty White, is now for sale at $26.9 million.

The listing agents are David Kramer and Rick Hilton of Hilton & Hyland, Beverly Hills.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL arranges refinancing for Two CityWestPlace in Houston, TX

Two CityWestPlace, 2107 CityWest Boulevard, Houston, TX

HOUSTON, TX, March 31, 2020 – JLL Capital Markets announced today that it has arranged refinancing for Two CityWestPlace, an office tower totaling 443,549 square feet in Houston’s Westchase submarket.

JLL worked on behalf of the borrower, Parkway Property Investments (“Parkway”), to secure the five-year, floating-rate loan. Regions Bank led the loan and syndicated half with Citizens Bank.  

Susan Hill

Two CityWestPlace is located at 2107 CityWest Boulevard within the larger four-building CityWestPlace office complex. 

The 29-acre park is positioned 12 miles west of Downtown Houston along the Sam Houston Tollway and is within close proximity to the Energy Corridor and CITYCENTRE plus residential areas such as Briargrove Park, Spring Branch and West Memorial. 

Jett Lucia

Tenants have access to various offerings shared across the four buildings, including expansive outdoor space, conference space, a dry cleaner, salon, dentist, car detailing and auto service, multiple food and beverage options and indoor and outdoor recreational offerings such as two fitness centers, a jogging track, soccer field, basketball court, sand volleyball and bocce ball court. 

Two CityWestPlace offers 20 stories of Class A office space, which is currently 99% leased.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Susan Hill and Analysts Jett Lucia and Sherri Rollins.

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

City Center Houston, TX

 The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or 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 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: 

Kristen Murphy

Senior Manager, Public Relations

JLL Capital Markets

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

us.jll.com/capitalmarkets

 jll.com.

Hold-Thyssen’s Steady Leasing Activity at Phillips Place in Orlando, FL Creates Traffic and Helps Tenants

 Darby Hold

Orlando, FL and  Winter Park , FL --- Hold-Thyssen, Inc. a full service commercial real estate services firm headquartered in Winter Park , recently negotiated two leases at Phillips Place the upscale office/retail center at 7575 Dr. Phillips Blvd. in Southwest Orlando . 

 Darby Hold, Senior Director for Hold-Thyssen, Inc. brokered both transactions on behalf of the landlord, Financial Way Realty, Inc. based in Cincinnati , Ohio , and the tenants.   

 Interior design experts American Concept Design leased 1,641 square feet and Anthem Tax Services, LLC expanded to lease a total of 5,576 square feet for multiple years.  The tax professionals are licensed in all 50 states and represent clients in tax preparation as well as litigation.

Phillips Place, an upscale office/retail center at 7575 Drive Phillips Boulevard in Southwest Orlando, FL . 

 “The continuous leasing that we’ve seen at Phillips Place , whether for a one- two- or three-year-term, has created traffic and stimulus for the business of existing tenants,” Hold said.

Hold-Thyssen, Inc. is the leasing and management representative for the 56,000 square foot Phillips Place office building, which is now 95 percent leased.

About Hold-Thyssen, Inc.:

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

  

CONTACTS:

           Anthony Fisher, Vice President, Hold-Thyssen Real Estate Services, 407-691-0505, afisher@HoldThyssen.com

 Robert P. Hold, Principal, Hold-Thyssen, Inc.

 407-691-0505, bhold@HoldThyssen.com

 Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 

407-644-4142 Lvershelco@aol.com.

JLL closes sale of Rayette Lofts in St. Paul, MN

Rayette Lofts, an 88-unit, mid-rise adaptive reuse residential and retail property located in downtown St. Paul, Minnesota’s vibrant Lowertown neighborhood.

MINNEAPOLIS, MN – JLL Capital Markets announced it has closed the sale of Rayette Lofts, an 88-unit, mid-rise adaptive reuse residential and retail property located in downtown St. Paul, Minnesota’s vibrant Lowertown neighborhood.

Mox Gunderson

JLL marketed the property exclusively on behalf of Sherman Associates, and procured the undisclosed buyer.

Rayette Lofts was originally constructed in 1909 and was later converted to a boutique multi-housing property with ground-floor retail totaling more than 2,500 square feet in 2014. 

Units include a mix of one-bedroom, one-bedroom plus loft and two-bedroom units averaging 1,029 square feet. 

The seven-story building has retained some of its historic architectural elements, such as exposed brick, 17-foot ceilings, large warehouse-style windows and concrete floors, blended with modern finishes, including stainless steel appliances, contemporary cabinetry, cultured marble countertops in the bathrooms and full-size washers and dryers. 

 Dan Linnell

Common area amenities include a community room with full kitchen and bar, fitness center, spin studio, rooftop deck and outdoor kitchen.

Located at 261 E. 5^th Street, the property is one block from Mears Park and offers a live-work-play lifestyle for its residents due to its proximity to top employers, retailers and attractions as well as major thoroughfares and rapid transit options. 

The residential portion of the property was 96% occupied at closing and the retail is fully leased to Saint Dinette, an American food restaurant that has occupied the space since Rayette Lofts opened in 2014.

The JLL Capital Markets investment advisory team representing the seller included Senior Directors Mox Gunderson, Dan Linnell and Josh Talberg and Director Adam Haydon.

  

Josh Talberg 

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

About JLL:

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

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. 

Adam Haydon

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.  

Contact: 

Olivia Hennessey

 JLL Senior Associate

 Public Relations  

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

jll.com.

Private investor purchases Huntington Beach, CA medical office building for $20 million

Lynn LaChapelle

NEWPORT BEACH, CA, March 30, 2020 – JLL Capital Markets announced today that it has completed the $20 million sale of Bella Terra Medical Plaza, a four-story, off-campus medical office building totaling 59,354 square feet in Huntington Beach, California.

Kellie Hill

JLL represented the seller, Vibe Boutique Office Properties, and procured the buyer, Manhattan Real Estate Holdings.

Bella Terra Medical Plaza is located at 7677 Center Avenue immediately adjacent to and visible from Interstate 405, one of Orange County’s major commuter arteries. 

Sach Kirpalani 

 Additionally, the 1.8-acre site is adjacent to Bella Terra, a shopping and entertainment center providing numerous retail amenities for tenants and patients alike.  

The recently renovated, Class A medical office asset is approximately 90% leased to a wide variety of medical facilities and providers.

The JLL Capital Markets team representing the seller was led by Derek Landry, Bob Prendergast, Sach Kirpalani and Lynn LaChapelle along with the JLL Healthcare team of Kellie Hill, Chris Isola and Bryan Lewitt.

Derek Landry

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.

 Bob Prendergast

About Vibe Boutique Office Properties:

Vibe Inc. is a private real estate company focused on acquiring value add office properties not typically targeted by REITS or other institutional companies, then transforming them into Vibe® Brand Boutique Office Properties.  

Over the past 5 years Vibe has strategically acquired a portfolio of over 15 properties in high growth markets primarily in the western half of the country.

Chris Isola

About Manhattan Real Estate Holdings:

Manhattan Real Estate Holdings, Inc. (“MREH”) and entities, is a commercial real estate investment and development firm, established in 2015, with the major purpose of acquiring medical office buildings.

Bryan Lewitt

Contacts: 

Derek Landry

 JLL Senior Director

CA Lic. #: 02056272

Phone: + 1 949 296 3613

Email: Derek.Landry@am.jll.com

Contact: Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

jll.com

 vibeinc.com

Regency Centers Provides Update Related to COVID-19

Lisa Palmer

JACKSONVILLE, FL,  March 30, 2020 (GLOBE NEWSWIRE) -- Regency Centers Corporation (the “Company”) provided the following updates related to COVID-19.

Statement from Lisa Palmer, President and Chief Executive Officer:

“First and foremost, thank you to all of the people who are placing their lives at risk by going to work every day to help provide our country with essential goods and services, such as healthcare workers, grocery store employees, delivery personnel and public service workers, just to name a few.

"You have our deepest gratitude and our thoughts and prayers are with you. As to Regency, our priority is the well-being of our team members, tenants, and the people in the communities that our properties serve.

"Our dedicated teams are committed to working with our tenants and vendors to ensure that our properties continue to seamlessly provide the essential goods and services that the surrounding neighborhoods need during this time.

 “Although the impacts of this unprecedented crisis are evolving rapidly and are difficult to quantify, Regency is built to withstand challenges and adversity with its strong balance sheet, exceptional people and a high quality portfolio of open air shopping centers that are 80% grocery anchored."

2020 Guidance

Due to the uncertainty surrounding the impacts from the COVID-19 pandemic, the Company announced today that it is withdrawing its full year 2020 guidance that was previously issued on February 12, 2020.

 A supplement to the investor presentation, which provides further information, has been posted on the Company’s website at investors.regencycenters.com/events-and-presentations/presentations. The Company will provide additional updates with its First Quarter 2020 earnings results.

Liquidity

To further strengthen Regency’s already strong balance sheet and liquidity position in this rapidly evolving and uncertain situation, the Company has taken additional steps to increase its liquidity.

 The Company settled its forward equity offering from September 2019 at $67.99 per share resulting in net proceeds of approximately $125 million.

The Company also drew down $500 million from its existing $1.25 billion revolving credit facility. Including the aforementioned credit facility draw, Regency now has a cash balance of approximately $720 million and an additional $545 million available under its revolving credit facility, which together represent total liquidity of approximately $1.27 billion.

 Regency has no unsecured debt maturities until 2022. The Company’s pro rata share of secured mortgage debt maturities in 2020 and 2021 is $153 million and $174 million, respectively.  

Investments

The Company has approximately $350 million of development and redevelopment projects currently in process and in various stages of construction.

Approximately $225 million remains to be spent to complete these in-process projects. Due to impacts of COVID-19, construction has been suspended at some projects due to municipal orders, or has slowed substantially due to health concerns and labor limitations.

Regency is assessing the impact of these project delays and will provide additional updates with its First Quarter 2020 earnings results. The Company is also closely assessing all pipeline development and redevelopment projects as well as non-essential capital expenditures.

Annual Shareholder Meeting

Due to the emerging public health impact of COVID-19 and to protect the safety of participants, the in-person Annual Meeting of Shareholders (the “Annual Meeting”) being held on Wednesday, April 29, 2020 at 9:00 a.m. EDT, has been changed to a virtual format only.

The virtual meeting will utilize online tools that ensure shareholders have the same rights and opportunities to participate as they would at an in-person meeting.

A live stream webcast, including closed captioning, can be accessed on the following website: virtualshareholdermeeting.com/REG2020. Online access to the webcast will open 15 minutes prior to the designated start time.

A replay of the webcast will be available on the Company’s website at investors.regencycenters.com until October 29, 2020.

Laura Clark

As described in the proxy materials for the Annual Meeting, a shareholder is entitled to vote in the Annual Meeting if the shareholder was a shareholder as of the close of business on March 9, 2020, the record date, or holds a legal proxy for the meeting provided by the shareholder’s bank, broker, or nominee.

To vote in the virtual meeting, a shareholder must enter the control number found on the shareholder’s proxy card, voting instruction form or notice the shareholder previously received.

Shareholders may submit questions in advance when they register for the meeting and at the conclusion of the virtual meeting through the webcast. 

CONTACT:

Laura Clark
904-598-7831
LauraClark@RegencyCenters.com

regencycenters.com.