Lee & Associates' Peter Braus Honored for Retail Deal of the Year in New York

  

 Peter Braus

NEW YORK, NY – Lee & Associates, a leader in commercial real estate services throughout North America, announces that Peter Braus, Managing Principal of Lee & Associates NYC and member of the Board of Directors, was named the Real Estate Board of New York's Most Significant Retail Deal of the Year award winner for his work with City Winery Pier 57 earlier this evening.  

City Winery Pier 57

“This was the most complex project of my twenty-plus years as a broker; manifold negotiations and a visionary entrepreneur resulted in this unique deal," said Braus. 

 "Businesses like City Winery will be vital to New York’s recovery and return to its pre-COVID status as the world’s greatest city. To receive the Retail Deal of the Year is a tremendous honor and I'm very grateful,”

The Retail Deal of the Year award recognizes those who demonstrate exceptional ingenuity and creativity throughout New York, as well as those deals whose overall characteristics exemplified its importance to the NYC Retail Market.

 Michael Dorf

City Winery executed a 25-year lease to relocate its flagship location from Hudson Square, where the company began, to a 31,229-square-foot space at Pier 57. 

“Peter really did what a good broker is supposed to do,"  said Michael Dorf, City Winery Founder and CEO.

"He represented me, fought for what was important, and was in my corner, every step of the way. I don’t think there’s another broker who could have done this," 

CONTACT:

Pamela Murphy
Lee & Associates
(832) 315-0219
pmurphy@lee-associates.com

Colorado Springs apartments sold to Oak Coast Properties for $37.25 million

Cottonwood Terrace apartments, 2864 Dublin Boulevard
Colorado Springs, CO

DENVER, CO – JLL Capital Markets announced  it has completed the $37.25 million sale and $28.5 million financing of the Cottonwood Terrace apartments located at 2864 Dublin Blvd in Colorado Springs, Colorado.

JLL worked on the behalf of the seller, Peak Capital, to complete the property sale to Oak Coast Properties. 

Jordan Robbins

JLL also worked on behalf of Oak Coast Properties to secure the 12-year, fixed-rate loan through Freddie Mac. Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

The garden-style Cottonwood Terrace apartments consist of 20 buildings with 200 units, averaging 819 square feet, atop 8.27 acres. 

Cottonwood Terrace is centrally positioned near Colorado Springs’ largest employment hubs and most notable retail centers, such as the 1.2-million-square-foot Chapel Hills Mall. 

Additionally, the apartment community is in close proximity to the U.S. Air Force Academy and the U.S. Olympic Headquarters, along with some of Colorado’s most desirable hiking and outdoor recreation sites like Garden of the Gods, Manitou Springs and Pike’s Peak.

Mack Nelson 

“Our apartments portfolio continues to perform and beat expectations, even with COVID-19 as a backdrop,” Phil Nahas, Managing Partner of Oak Coast Properties. “Thus, we are comfortable continuing to acquire quality multifamily properties like Cottonwood Terrace.”

 JLL’s Capital Markets team representing the seller is led by Managing Director Jordan Robbins and Directors Mack Nelson and Chris White. 

Financing is led by Senior Managing Director Charles Halladay, Senior Director Brock Yaffe and Director Rick Salinas.

 Chris White. 

“Cottonwood Terrace is a great investment opportunity with a historically strong performance,” said Robbins.

 “It is a tremendous value-add property with plenty of room for renovations to continue increasing the value of the community.”

 “Colorado Springs continues to be sought after by a growing amount of capital,” added Nelson. “The sales process was competitive, resulting in strong pricing and excellent execution by Oak Coast, even during the global pandemic.”

Charles Halladay

 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. 

For more news, videos and research resources on JLL, please visit our newsroom.

About Peak Capital

Peak Capital Partners owns and manages apartment complexes throughout the United States. 

Through analytically stringent management, disciplined underwriting and a relentless sourcing of new opportunities, Peak Capital provides equity partners with compelling multi-family investment opportunities that produce portfolio diversification, compelling cash yields, capital appreciation, and tax benefits.

Brock Yaffe 

About Oak Coast Properties

Oak Coast Properties is a real estate investment firm primarily focused on core plus, value-add and opportunistic real estate acquisitions across the United States. 

Our exclusive platform not only provides collective investment opportunities in direct deals, but also accommodates Joint Venture investments alongside likeminded JV operating partners with experience in their asset classes and geographic locations. 

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. 

Rick Salinas

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 94,000 as of March 31, 2020. 

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

 For further information, visit jll.com.

CONTACT:

Natalie Passarelli

 JLL Senior Associate

 Public Relations

Phone: +1 (224) 477-7307

Email: Natalie.passarelli@am.jll.com

Northwest Washington DC. apartments purchased in cash for $49 million

The Shaw, a multi-housing apartment community in the Northwest Washington D.C. area.

 WASHINGTON DC, July 30, 2020 – JLL Capital Markets announced today that it has closed the $49 million sale of The Shaw, a multi-housing apartment community in the Northwest Washington D.C. area.

JLL completed the sale from the seller, Monument Realty, to the buyers, a joint venture between Shimizu Realty Development (U.S.A.) Inc. and Capital Security Advisors, LLC.

Walter Coker 

The Shaw is located next to the D.C. area’s most sought-after restaurants, shopping and entertainment, with the prominent Logan Circle, U Street Corridor,14^th Street Corridor and Bloomingdale neighborhoods just a few blocks away.

The Walk Score® for locals is 98 and 92 for Bike Score® with easy to access to all that the “live-work-play” neighborhood has to offer, with nearly 70% of locals using public transportation, walking or biking to work.

The Shaw is adjacent to the Shaw/Howard University Station and Yellow Line. For those who prefer to drive, the apartments are close to the 14^th Street roadway that links directly to I-395 and Route 1.

"In addition to the lively entertainment scene, The Shaw has unmatched proximity to Washington D.C.’s sought-after employment opportunities," said Dennis Irvin, President of Capital Security Advisors LLC.

Brian Crivella

“The emergence of this neighborhood and nearby areas has been increasing over the past several years and has even become a second base for the world’s largest e-commerce platform.”

The Shaw apartments’ design exhibits redefined living, from open layouts to city spa bathrooms touting frameless glass showers and ascent wall tiling to chef-caliber kitchens.

Personal outdoor areas for residents include private balconies and breathtaking views of their city.

 In the main areas, The Shaw has a welcoming lobby filled with comfortable seating and atmospheric lighting, a rooftop terrace and lounge, and is powered by smart home technology – app friendly building access, latch keyless entry, virtual front desk and integrated parcel locker systems for deliveries. 

“The Shaw is truly a trophy asset with exquisite design and superior apartment unit layouts. We are excited to add it to our portfolio,” continued Irvin. 

The JLL Capital Markets team representing the seller was led by Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.

CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

us.jll.com/investorservices