JLL arranges sale of Boston industrial portfolio

Benjamin Roopenian

BOSTON, MA – JLL announced it has closed the sale of a fully leased, four-property multi-tenant industrial portfolio totaling approximately 286,000 square feet along with a one-acre land parcel in the Boston-area community of North Reading, Massachusetts.

JLL procured the buyer, an institutional investor, in an off-market transaction.

The portfolio comprises industrial facilities at 23, 29, 35-37 and 45 Concord St. and an adjacent land parcel. The properties are located in the coveted 128 North Industrial submarket, which provides ease of access to Boston and other geographies via routes 128 and 93.

Michael Restivo 

 The Industrial Brokerage and Capital Markets teams leading the transaction included Vice President Benjamin Roopenian and Director Michael Restivo along with Senior Vice President Matt Sherry.

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.

Matthew (Matt) Sherry.

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 Senior Associate, Public Relations
Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

Arbor Funds $10.4 Million Fannie Mae DUS® Loan in Cedar Falls, IA

 Joseph Charneski 

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Streamlined Rate Lock loan in Cedar Falls, IA. The 180-unit property received $10.4M in financing.

 Joseph Charneski of Arbor’s New York City office originated the deal.

 Thunder Ridge Apartments, Cedar Falls, IA

“This was a great transaction,” Charneski said. “We were able to close this refinance loan with full-term interest only payments and a historically low interest rate during these unprecedented times.” 

 Built in 1975, Thunder Ridge is made up of one- and two-bedroom apartments. The pet-friendly complex features a basketball court, putting green, tranquility pond and 24-hour fitness center.

 It is conveniently located within walking distance of retail stores and restaurants.  

Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Marcus & Millichap Promotes Miami, FL Agent Debra Franklin to First Vice President Investments

  Debra Franklin 

Miami, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced  Debra Franklin of the company’s Miami office has been promoted to First Vice President Investments, according to Scott Lunine, Regional Manager. 

Previously, Franklin held the position of Vice President Investments. 

“Franklin has been an extremely successful investment real estate broker, and she is a born leader in our office,” says Lunine.

Franklin is an investment sales professional, specializing in net leased assets throughout the U.S. with a unique focus in the quick service restaurant space and a passion for the franchise community. 

Scott Lunine

“Six years ago I was uncertain what this second career in brokerage could become," says Franklin. "I quickly discovered that commitment, discipline, patience, adaptability and finding like-minded partners, you can begin again and sometimes even change the game.

 "I am thankful to Marcus & Millichap for giving this long-term corporate employee an opportunity.”

CONTACT:

Daniella Aragon  

Daniella.Aragon@marcusmillichap.com

District 114 project breaks ground in Southlake, TX

District 114, a four-story, mixed-use office building with ground floor retail totaling 94,990 square feet in Southlake, Tx

DALLAS, May 28, 2020 – JLL Capital Markets announced today that it has arranged construction financing for District 114, a four-story, mixed-use office building with ground floor retail totaling 94,990 square feet in Southlake, Texas.

Working on behalf of the borrower, Medici Development Partners, LLC, JLL placed the five-year, floating-rate construction loan with Happy State Bank & Trust.

Due for completion in the second quarter of 2021, District 114 will offer 69,878 square feet of office space and 25,112 square feet of retail space.

The property will have average floor plates of 24,000 – 29,000 square feet and offer tenants a fourth-floor outdoor patio, a 322-space parking facility and direct access to Texas Independence Park featuring outdoor work and patio space.

 De’On T. Collins

 The 3.3-acre site is positioned within Kimball Park, a 17.58-acre, walkable mixed-use development that also includes a Cambria Hotel, The Office at Kimball Park and restaurant/retail space.

Tenants at District 114 have access to the amenities at the adjacent Cambria Hotel and Conference Center, which include a fitness center, pool, restaurant, meeting facilities and executive boardrooms.

Steve Heldenfels

The project is located in Southlake, an affluent suburb of Dallas and a corporate headquarters hub for many Fortune 1000 companies.

District 114 has exceptional regional access to the entire Dallas Fort Worth Metroplex via State Highways 114 and 121 and is close to the Dallas Fort Worth International Airport, Southlake Town Square, Park Village and The Shoppes at Southlake.

The JLL Capital Markets team representing the borrower was led by Senior Director De’On Collins and Managing Director Steve Heldenfels.

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

  

CONTACT:

Kristen Murphy

 JLL Senior Manager

Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

jll.com.