JLL arranges equity for multi-housing project near Twin Cities

 NOVO, a planned 192-unit multi-housing complex, Richfield, MN

  

Dan Linnell

MINNEAPOLIS, MN –– JLL Capital Markets announced it has arranged equity for the development of NOVO, a 192-unit multi-housing complex located in the Twin Cities’ suburb of Richfield, Minnesota.

NOVO will consist of a five-story and three-story building situated above a two-level, heated underground parking garage with 246 spaces.

The project is being developed on a two-acre site at 2412 West 66^th Street just east of Southdale Mall and west of Penn Avenue.

 In addition, NOVO will offer residents nearby access to Interstates 35 and 494 as well as the forthcoming Bus Rapid Transit METRO Orange Line.

Josh Talberg

The property’s 192 units will total 202,122 square feet across a mix of 28 well-designed studio, one- and two-bedroom floor plans. Units will include luxury finishes, including stainless steel appliances, large kitchen islands, tile backsplashes and spacious closets.

 Community amenities will include a fitness center with dedicated yoga room, community room, theater room, dog park and an outdoor amenity plaza with a pool, hot tub, fire pits, multiple seating areas and pergola.

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

Mox Gunderson 

“JLL was grateful to be a part of moving this project forward amidst all of the uncertainty in the world,” Linnell said. “The successful completion of this transaction is a true testament to the quality of the project, strong sponsorship and a great lending partner.”

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.

Adam Haydon

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 Senior Associate

Public Relations

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

Berger Commercial Realty/CORFAC International Secures Fifth South Florida Location for Growing Latino Medical Center

Latino Medical Center, 266 Hillsboro Boulevard, Deerfield Beach, FL

FORT LAUDERDALE, FL – Berger Commercial Realty/CORFAC International has secured the fifth South Florida location for Latino Medical Center, a full-service health care provider with existing locations in Miami-Dade and Broward counties.

Located at 266 Hillsboro Boulevard in Deerfield Beach, Latino Medical Center’s newest location consists of 5,256 square feet of space with a medically-oriented interior configuration.  The freestanding building is situated on a half-acre and affords pylon signage and convenient access.

 Joseph Byrnes

“The efficient configuration of this space offered ideal functionality for Latino Medical Center’s business,” said Berger Commercial Realty Senior Vice President Joseph Byrnes, who represented Latino Medical Center as the tenant for the second time.  

“We look forward to working with them on their strategic plan for expansion.”

Latino Medical Center provides general medicine services, electrocardiograms, massage therapy, optometry, podiatry, neurology, lab work, dental work, cardiology and urology.

For information about Berger Commercial Realty, please call 954-358-0900.

CONTACT:

Jennifer J.H. Pierce

Account Director

Pierson Grant PR
6451 North Federal Highway, Suite 1200  |  Fort Lauderdale, FL 
T:  954.776.1999, ext. 232  |  E:  jpierce@piersongrant.com 

www.corfac.com.

www.bergercommercial.com.

NAI Realvest Brokers Office Leases in Windermere, FL and Closes Land Deal in Kissimmee, FL

Windermere Professional Office Park, 1915-1945 Maguire Road, Windermere, FL

ORLANDO, FL – Paul P. Partyka, CCIM, MiCP, Partner at NAI Realvest, arranged leasing for four units totaling 8,013 SF at Windermere Professional Office Park, 1915-1945 Maguire Road, Windermere, Florida, on behalf of the landlord, Baden Real Estate, LLC. 

The project, consisting of five 3,000 SF buildings was recently completed and is now 85% leased with only two spaces remaining available. The new tenants are:

 Paul P. Partyka

z·        Inspired Dental leased 2,013 SF in suite 101 at 1915 Maguire Road.   The practice is re-locating from their current location in Winter Garden. 

·        J. Christine Salon, LLC leased 1,500 SF in suite 105 at 1933 Maguire Road.  The luxury salon and blow-dry bar is relocating from their current location in the Dr. Phillips area. 

·        Heritage Management Group, LLC leased 1,500 SF in suite 106 at 1933 Maguire Road.  They are relocating their office to the new development. 

·          Keen Growth Capital Advisors, LLC leased 3,000 SF in suite 109 at 1945 Maguire Road.  They are relocating their existing Windermere office to the new development.

NAI Realvest Handles 9.82-Acre Land Sale in Kissimmee, FL

ORLANDO, FL – Paul P. Partyka, CCIM, MiCP, Partner at NAI Realvest, closed on the sale of 9.82 acres on Livingston Road, near Formosa Garden Blvd, in Kissimmee, Florida. 

He represented the seller, Maingate Hills, Inc.  The buyer, Primeland Real Estate Development, LLC plans to develop a luxury condo hotel on the site. 

               Sycamore Orlando Resort rendering, Kissimmee, FL

The new development will be called Sycamore Orlando Resort (https://primelandusa.com/sycamore-resort) and will consist of 6 seven-story buildings, with a total of 380 condo hotel units. 

Sycamore Orlando Resort will be a luxury vacation destination, with numerous amenities including a bakery-café, fitness center, kids club, pet club, on-site restaurant, rooftop bar, spa, sports bar and sushi bar as well as 24/7 concierge service. 

Construction is expected to begin in June 2020 with first phase completion by June 2021 and final completion by June 2022. 

 “This will be an outstanding addition to the luxury accommodation market near the attractions area” according to Partyka.

CONTACTS:

 Paul P. Partyka, CCIM, MiCP, Partner, NAI Realvest

407-875-9989, ppartyka@realvest.com

Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com

North Dallas, TX multi-housing property refinanced

Advenir on Addison, 17671 Addison Road, near the Platinum Corridor, North Dallas, TX

DENVER, CO – JLL Capital Markets announced it has arranged the refinancing of Advenir on Addison, a 264-unit, garden-style multi-housing property in North Dallas.

 JLL worked on behalf of the borrower, Advenir, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by Holliday Fenoglio Fowler LP, a JLL company and a Freddie Mac Optigo℠ lender.

Eric Tupler

 Advenir on Addison is located at 17671 Addison Road near the intersection of President George Bush Turnpike and Dallas North Tollway.

The property is well supported by retail, dining and entertainment venues, including the Galleria Mall, Village on the Parkway, the Shops at Willow Bend and Valley View redevelopment.

Advenir on Addison is also near the Platinum Corridor, one of the DFW metroplex’s largest office corridors, and three of the metro’s largest mixed-use developments: CityLine, Legacy Business Park and Frisco’s $5 Billion Mile.

Units include one- and two-bedroom floor plans averaging 923 square feet with amenities such as stainless steel appliances, granite kitchen counters, hardwood and slate flooring, spacious walk-in closets, in-unit washers and dryers, and attached garages for all units.

Josh Simon 

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler, Managing Director Josh Simon and Senior Managing Director Andy Scott.

 JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. 

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. 

JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

Andy Scott

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: 

Olivia Hennessey

 JLL Senior Associate,

Public Relations

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com