Beacon Real Estate Group Completes Acquisition of Tampa, FL Apartment Community

The 200-unit Beach Club is a compelling value-add opportunity
for Beacon near Westshore Business District in Tampa, FL

 

MIAMI, FL and TAMPA, FL – Commercial real estate firm Beacon Real Estate Group closed another significant multifamily acquisition with its purchase of the Beach Club apartment community in northwest Tampa, Florida. 

 

Since the beginning of August, Miami-based Beacon has closed or put under contract over $250 million of multifamily investments in the Southeastern U.S. 

Community amenities include a swimming pool, outdoor kitchen, fitness center, private dock and business center with complimentary Wi-Fi.

The off-market Beach Club transaction closed on Nov. 6. Beacon obtained acquisition financing from Berkadia/Freddie Mac. 

 

Completed in 1979, the 200-unit Beach Club is a compelling value-add opportunity for Beacon near Westshore Business District.  Residents benefit from the community’s easy access to I-275, the Tampa International Airport, Lowry Park Zoo and various shopping and dining venues. 

 

Community amenities include a swimming pool, outdoor kitchen, fitness center, private dock and business center with complimentary Wi-Fi. Beach Club is pet-friendly with a dog park and walking paths. 

Richard Kulick 

“We are thrilled to add Beach Club to our robust portfolio of multifamily assets in the Southeast U.S.,” Beacon Managing Partner Richard Kulick said. “Our team will implement an extensive capital improvements program to upgrade the community.” 

 

Berkadia arranged the property transaction and financing.  

 

Beacon continues to aggressively pursue multifamily acquisitions in Florida and Georgia. 

 

“Our investment strategy revolves around following where the jobs are going,” Beacon Managing Partner Carlos E. Imery  said. “The Tampa area has benefitted from substantial job creation in technology, finance and healthcare.” 

 

Beacon owns more than 6,500 multifamily units in the Southeast U.S., with a strong focus on secondary markets. The company’s portfolio also includes over 1 million square feet of office and retail properties in the region. 

Carlos E. Imery 

 

About Beacon Real Estate Group 

 

Based in Coral Gables, Florida, Beacon Real Estate Group is a commercial real estate firm that specializes in the acquisition and management of multifamily, office and retail properties in the Southeastern quadrant of the U.S.

 

 Beacon is led by real estate veterans Richard Kulick and Carlos Imery. The firm and its affiliates were founded in 1967 and have more than 50 years of continues experience.

 

 Beacon currently controls over 10 million square feet of U.S. commercial real estate. 

CONTACT:

 Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

 

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.bcnreg.com.  

Beacon Realty Advisors Acquires Prime Retail Center in La Quinta, CA

 Omar Hussein

  

La Quinta, CA —Beacon Realty Advisors, a San Diego-based retail and mixed-use firm focused on leasing, investment and asset management, has announced the acquisition of Jefferson Square, a partially built open-air retail center on approximately 10 acres in the Coachella Valley city of La Quinta, California.

 

Beacon Realty Advisors acquired the property with JV partner Carolina Capital Real Estate Partners of Charlotte, NC from its original developer Regency Centers.

Jefferson Square aerial, La Quinta, CA

 

“Jefferson Square sits on a hard corner in an affluent and expanding region," notes Omar Hussein, Founder and Principal of Beacon Realty Advisors.

 

" Platted into seven separate parcels, this property offers our firm a unique opportunity to create an in-demand, mixed-use asset that incorporates the center’s existing essential retail tenants with other uses.”

The property, located at Fred Waring Drive and Jefferson Street in the heart of La Quinta, is currently anchored by a CVS Pharmacy.

CONTACTS:

Katie Haga / Jenn Quader

Brower Group

(949) 438-6262

khaga@brower-group.com

www.CarolinaCapitalRE.com.

www.beaconrealtyadvisors.com.

Momentum at Fenton in Cary, NC continues with closing of second largest commercial construction loan in Triangle history

Chef Scott Crawford

 RALEIGH, NC – JLL Capital Markets announced it has arranged what is believed to be the second largest commercial construction loan in Triangle history on the behalf of Hines, Columbia Development and USAA Real Estate for the continued development of Fenton, a 69-acre mixed-use project underway in Cary, North Carolina.

 JLL represented the developer, a partnership between Hines, Columbia Development and USAA Real Estate, to arrange the construction financing with Bank OZK.

 In addition to being one of the largest construction loans in the Triangle region, this is also the largest construction loan to close for a retail-driven project in the U.S. since the start of the COVID-19 pandemic, according to Real Capital Analytics.

Steve Palmer

 The developer will begin vertical construction in November 2020. In 2019, HFF, now part of JLL, arranged the joint venture equity investment for the first phase of Fenton’s development.

 “This is the final piece of the puzzle that allows the project to move forward with vertical construction,” said Paul Zarian, Director at Hines.

  “Especially in light of the current economic climate, we are grateful for the confidence that Bank OZK has placed in the development team and appreciative of JLL’s tremendous efforts and leadership to secure this facility.”

 Fenton is positioned along I-40 and Cary Towne Boulevard, a prominent interstate interchange that occupies a premier, central location in the Triangle. 

 The first phase of the project will include approximately 345,000 square feet of shops, restaurants and entertainment space, 200,000 square feet of office space, a 175-key boutique hotel and a recently announced multi-housing community, The Canopy at Fenton, which will consist of 357 luxury apartments.

Chef Ford Fry

 Fenton’s dining scene will also have an impressive roster of chef-driven restaurants, including Chef Scott Crawford’s Crawford Brothers Steakhouse, Steve Palmer’s Italian restaurant Colletta, Chef Ford Fry’s tex-mex concept Superica and chef Michael Lee’s M Sushi.

 Other tenants include anchors Wegmans and CMX CinéBistro, as well as Honeysuckle Gelato, Crú Food & Wine Bar, Sephora, Free People, Bailey’s Fine Jewelry and Blo Salon.

 The JLL Capital Markets team representing the developer was led by Managing Directors Chip Sykes and Roger Edwards.

 “My partners and I at JLL are grateful for the opportunity to have worked on this visionary project, particularly with the wonderful development team of Columbia Development, Hines and USAA Real Estate,” said Sykes.

  “Together, and with our friends at Bank OZK, we were able to drive this financing to the finish line in such a challenging environment.”

                   Paul Zarian

 

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 207 cities in 24 countries.

 Hines has approximately $116.4 billion of assets under management, including $64 billion for which Hines provides fiduciary investment management services, and $52.4 billion for which Hines provides third-party property-level services.

 The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,319 properties, totaling over 431 million square feet.

Chip Sykes

 The firm’s current property and asset management portfolio includes 527 properties, representing over 224 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.

 

About Columbia Development

Columbia Development is a privately held real estate development firm based in Columbia, South Carolina, with offices in Atlanta, Georgia, Charleston, South Carolina and Raleigh, North Carolina.  

 Roger Edwards.

Columbia’s team is actively engaged in the development of mixed-use destinations, regional and neighborhood shopping centers, and single-tenant retail assets throughout the southeastern United States, with a primary geographic focus on the Carolinas.

  Columbia Development is currently constructing six projects totaling more than one million square feet and has a predevelopment pipeline in excess of five million square feet.  

Columbia’s team has vast experience in the areas of site selection, development, finance, construction and leasing.

 CONTACT:

Natalie Passarelli

 JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email: Natalie.Passarelli@am.jll.com

w.hines.com 

jll.com.

www.ozk.com.

http://usrealco.com/.

Rekor Systems Takes 4,556 SF at Northlake I in Altamonte Springs, FL

 Lisa Bailey 

 

ORLANDO, FL  – Jeffrey Bloom, CCIM, Senior Director at NAI Realvest, recently helped tenant Rekor Systems, Inc. find space for a new location at Northlake I, 774 South Northlake Blvd, Altamonte Springs. 

  Rekor leased suite 1016 with 4,556 SF.  This will be a new office for the company which specializes in various applications of their proprietary ALPR (automatic license plate recognition) software. 

Jeffrey Bloom

 Lisa Bailey of Avison Young represented the owner, TCD 214 Northlake Property, LLC. 

 About NAI Realvest

 NAI Realvest, covering all of central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide.

  NAI Global is an international commercial real estate network with over 400 offices spanning the globe.  Since 1978, clients have built businesses on the power of NAI Global’s expanding network.  

Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. 

 CONTACTS:

Jeffrey Bloom, CCIM, Senior Director, NAI Realvest 

407-875-9989, jbloom@realvest.com

 Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989 pmahoney@realvest.com

Yelena Gurtovenko 

ygurtovenko@realvest.com

www.nairealvest.com.

Financing secured for Los Altos Trinity Green in burgeoning West Dallas, TX

Susan Hill 

  

HOUSTON, TX – JLL Capital Markets announced today that it has arranged acquisition financing for Los Altos Trinity Green, formerly known as Alta Trinity Green, a Class A, 324-unit multi-housing property in West Dallas.

 

JLL worked on behalf of Barvin to originate the 10-year, 2.625% fixed-rate Fannie Mae loan with five years of interest-only payments. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Susan Hill and Managing Director Cortney Cole.  

Cortney Cole

 

With breathtaking views of the famous Margaret Hunt Hill Bridge and Dallas skyline, Los Altos Trinity Green is part of the master-planned, 24.8-acre Trinity Green development.

 

Completed in 2019, the property consists of 270,794 rentable square feet and offers studio-, one-, two- and three-bedroom units.

 

Community amenities include an outdoor lounge, rooftop deck, clubhouse and game room, resort-style pool, courtyard grilling area, fitness center and dog washing station.

 

Located at 990 Singleton Blvd., Los Altos Trinity Green is positioned in the burgeoning West Dallas, just 10 minutes from Downtown and its Central Business District, a major employment hub with more than 2,500 companies and 30 million square feet of office space that supports more than 135,000 jobs.

Los Altos Trinity Green,  990 Singleton Boulevard, West Texas, TX

 Additionally, Los Altos Trinity Green is in proximity to nearly 600 dining and retail options, the city’s renowned medical district and Dallas Love Field Airport. 

  

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

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

jll.com.