Done Deals: Dec 7, 2020

Monday, December 7, 2020

Arbor Funds Multifamily Loans Totaling $30 Million in Connecticut and Georgia

Robert Mendeles

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded 12 transactions in CT and GA in partnership with Netz Capital Management and Tower Funding. The properties, comprised of 402 units, received $30.1M in financing.

Robert Mendeles of Arbor’s Englewood Cliffs office originated the loans.

“Arbor excels at creating long-lasting relationships because we understand our clients and their financial needs,” Mendeles said.

Boulevard Apartments, New Haven, CT

“For nearly a decade we have partnered with Netz Capital Management and Tower Funding, providing innovative solutions across multiple product lines.

"These transactions exemplify our continued ability to deliver for our valued clients year after year.”

HIGHLIGHTS OF TRANSACTIONS

Eight properties in New Haven, CT, received funding through the Fannie Mae DUS® Small Loan program:

Boulevard Apartments received $1.9M in refinancing in the second quarter of 2020. The recently renovated complex features 24 units with spacious floorplans and hardwood floors. Retail shopping and entertainment are in close proximity.

215 Fairfield Street received $1.4M in refinancing in the second quarter of 2020.

Located about three miles from downtown New Haven, the 16-unit complex is near to Southern Connecticut State University and West Rock Nature Center.

1445 Ella T. Grasso Blvd. received $877,000 in refinancing in the second quarter of 2020. The multifamily property is made up of 14 units with hardwood floors and plenty of closet space. A variety of restaurants and retails shops are within walking distance.

36 Derby Ave. received $1.1M in refinancing in the second quarter of 2020. The recently renovated Victorian-themed complex features 20, one-bedroom units with ample closet and storage space. Yale University is just two miles away.

T&G Investments Portfolio received $2.1M in refinancing in the second quarter of 2020. The 47-unit property features spacious one-bedroom floorplans with hardwood floors. Dining, entertainment and Yale University are nearby.

T&G Apartments Portfolio received $2.3M in refinancing in the third quarter of 2020. The multifamily complex includes 38 units with hardwood floors. It is conveniently located near parks, grocery stores, public transportation and other amenities.

215 Fairfield Street, New Haven CT

1523 Chapel Street received $3.2M in refinancing in the third quarter of 2020. The 45-unit property features two-bedroom units with high ceilings, hardwood floors, granite kitchen countertops and stainless steel appliances. Barnard Nature Center at West River Memorial Park is within walking distance.

141 Sheffield Ave. received $2.3M in refinancing in the fourth quarter of 2020. The recently renovated multifamily complex includes 28 units with stainless steel appliances, ample storage space and gated private parking. Albert Magnus College is a few blocks away.

One property in Marietta, GA, received refinancing through the Fannie Mae DUS® Loan program:

Balfour Marietta received $8.7M in the second quarter 2020. The secluded 98-unit property is recently renovated and features modern flooring, new kitchen appliances and quartz countertops. Retail shopping is nearby.

Balfour Marietta apartments

Two additional properties in New Haven, CT, received funding through the Single-Family Rental Portfolio program:

11 Willis Street received $2.1M in refinancing in the third quarter of 2020. The 20-unit property is conveniently located to Downtown New Haven, Yale and local hospitals.

111 Bristol Street received $3.1M in refinancing in the fourth quarter of 2020. The 37-unit pet-friendly property features one- and two-bedroom apartments with hardwood floors and large closets. Retail shopping is nearby.

Another property in New Haven, CT, received refinancing through the Freddie Mac SBL program:

119 Blake Street received $1.1M in the third quarter of 2020. The multifamily complex includes 15 units with one to four bedroom floorplans. Retail shopping and the commuter rail are a short driving distance away.

CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Hold-Thyssen Lands New Dr. Phillips Area Tenants in Orlando, FL

Darby Hold

Orlando, FL and Winter Park, FL --

Troy Stevens

Hold-Thyssen, Inc. – a full service commercial real estate services firm headquartered in Winter Park – negotiated a multi-year lease of a 1,230 square foot office for A&P International at Phillips Place, 7575 Dr. Phillips Blvd.

Darby Hold, Senior Director for Hold-Thyssen, Inc. who brokered the transaction on behalf of the landlord Financial Way Realty, Inc., says the new tenant is a business management consultant specializing in coaching and training Diverse Suppliers with services that cover the globe.

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.

Vikash Mahadeo

At the Sand Lake Tech Center , 2415 W. Sand Lake Rd. , Hold-Thyssen Leasing Associates Troy Stevens and Vikash Mahadeo completed a lease agreement for 930 square feet with Austin Lloyd, Inc., a telemarketer of precious metals.

CONTACTS:

Beth Payan

Larry Vershel Communications Inc

2433 Lee Road

Winter Park, FL 32789

407-644 4142 (main)

407-461 3781 (cell)

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

Weiss Serota Helfman Cole & Bierman Successfully Represents Mast Capital in Approval of $2 Million Miami Beach Condominium Project

Peter D. Waldman

MIAMI, Fla. – The expertise of Weiss Serota Helfman Cole & Bierman P.L. in complicated land-use and real property matters was on display in the City of Miami Beach, where the firm represented developer Mast Capital in completing a property acquisition from the Florida Department of Transportation (FDOT) and obtaining city approval for a long-anticipated luxury condominium project.

The project had been held up in the planning and approval phase for more than six years before last month’s city approval. Mast is developing the 12-story building on 1.9 acres it previously purchased from Talmudic University in October 2014.

Mast can now move forward with the 175-unit development at 4000 Alton Road in the city’s growing Mid-Beach neighborhood.

Edward O. Martos

Firm Partner Peter D. Waldman led negotiations with FDOT for the acquisition of surplus land located next to the project site, a process that started in August 2019 and culminated with the November 2020 project approval.

The $1.99 million property transaction is expected to close by the end of 2020.

Firm Partner Edward Martos provided valuable assistance regarding the history of the project from a land-use perspective.

To facilitate the property transaction, Waldman had to persuade FDOT officials to designate the land as a surplus property, produce traffic and drainage studies and a market appraisal, resolve an environmental issue related to debris removal, and negotiate the purchase agreement.

“This was a team effort and a rewarding project to work on,” Waldman said. “FDOT followed its process to the letter of the law, and we did everything the Department asked for to show that this property was not being used, and was not needed for future FDOT projects.

"The result is a true win/win, with the city finally able to have this project move forward to accommodate strong demand for new luxury residential product in Mid-Beach and FDOT getting significant revenue through the property sale.”

CONTACT:

Eric Kalis

Vice President

BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

JLL Capital Markets establishes presence in Salt Lake City with Two New Hires

Phil Brierley

DENVER, CO, Dec.7, 2020 – JLL Capital Markets announced today that Phil Brierley has joined the firm as a Senior Director focused on investment sales advisory transactions in its Salt Lake City, Utah, office.

Also joining the newly established Salt Lake City capital markets team is Director Cole Macadaeg.

Brierley has more than 12 years of experience in commercial real estate and joins JLL from a national commercial real estate brokerage firm where he worked as a Vice President of Investments and managed the Utah and Idaho investment platforms.

Prior to that, he held a position with Morgan Stanley Capital International’s real estate platform in Chicago.

Brierley received his Master’s in Real Estate Development from the University of Utah and his undergraduate degree from Rhodes University.

Mark Katz

He is an active member of the real estate community and currently sits on the board of the Utah Chapter of CCIM.

Prior to JLL, Macadaeg worked as an Associate at a national commercial real estate brokerage firm.

Macadaeg’s focus is on manufacturing, distribution and flex industrial space. He holds a bachelor’s degree from the University of Utah.

“Our capital markets team has been looking to expand in Salt Lake City for quite some time,” said Mark Katz, Senior Managing Director and co-head of JLL Capital Markets Denver.

“As with all of our new hires, we seek to find the right cultural fit and Phil and Cole embody all that we look for. Salt Lake City is a market that we plan to significantly grow our capital markets presence and Phil is going to help us achieve that goal."

Jim Balderson

“We are excited to have Phil join our growing Salt Lake City brokerage office,” added Managing Director Jim Balderson. “In additional to Phil’s extensive real estate resume, we look forward to his leadership and value to our strong culture at JLL.”

“There’s no question that this is the right platform for our clients and for the Salt Lake market,” said Brierley.

“JLL’s acquisition of HFF in 2019, and the capital markets powerhouse that created is something unique in our industry.

"Cole and I are lucky to be at that front of that expansion and are beyond excited to show our market what this platform can do.”

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

CONTACT:

Kristen Murphy

Senior Manager, Public Relations,

Investor Services JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

www.jll.com

PEBB Enterprises Expands Team in Boca Raton, FL with Addition of JoAnn Kowalkowski

JoAnn Kowalkowski

BOCA RATON, FL – Dec. 7, 2020 – PEBB Enterprises, a full-service private real estate investment company, announces the addition of JoAnn Kowalkowski as a Tenant Coordinator. Kowalkowski is based in PEBB’s Boca Raton office.

Kowalkowski is responsible for coordinating all tenant construction activity on current projects. This includes supporting and assisting tenants with construction drawings, permitting, utility connections and signage to ensure each business opens on time.

Ian Weiner

Before joining PEBB, she served as a Tenant Construction Coordinator for Seritage Growth Properties and Encore Retail Centers, both located in South Florida. With more than 30 years of experience, Kowalkowski brings significant expertise in retail, office and industrial properties.

“JoAnn is a phenomenal addition to our firm’s growing team of talented professionals,” PEBB President and CEO Ian Weiner said. “Her experience and knowledge of real estate and construction will be of great value to our tenants throughout the buildout process.”

Kowalkowski graduated from the Detroit College of Business. She is also a Certified Property Manager and is a licensed Real Estate Agent in Florida.

CONTACT:

Eric Kalis

954-370-8999

ekalis@boardroompr.com

Daniel Benjamin

Senior Account Executive

BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

https://pebbenterprises.com/.

Mission-critical industrial facility near Orlando, FL sells for $71.45 million

New, 289,839-square-foot, Class A, mission-critical industrial facility in the Orlando-area community of Apopka, FL

ORLANDO, FL –

Scott Alexander

JLL announced it has closed the $71.45 million sale of a new, 289,839-square-foot, Class A, mission-critical industrial facility in the Orlando-area community of Apopka, Florida.

JLL marketed the property on behalf of the seller, BlueScope Properties Group. Realty Income Corporation purchased the asset.

Additionally, JLL brokered the long-term, net-lease build-to-suit with the investment-grade tenant.

Situated on 21.2 acres, the distribution center is within the 180-acre Mid-Florida Logistics Park, which is home to several other corporate users.

The property is on the arterial State Route 429, which provides alternative access to the entire Orlando MSA.

Matt Roth

Additionally, with completion of the nearby Beltway project, connectivity to the region will increase.

The North Orange County Industrial submarket location places the property in one of the fastest-growing markets in the state and provides a deep labor pool along with amenities.

Completed in July 2020, the property is fully leased to a global beverage company.

The building has institutional-quality features, including 10 dry-dock doors with full equipment, 36-foot clear heights, ESFR sprinklers, LED lighting, cold storage space with capacity for 6,200 pallets, five cold dock doors to allow minimal temperature loss during handling and ample parking.

Julia Silva

An adjacent land parcel was included in the sale to allow for a future expansion of up to approximately 90,000 square feet.

Sean Devaney

“We are extremely proud of this premier industrial park and the world-class users that have made it their home,” said Scott Alexander, the president of BlueScope Properties.

“This was an extremely competitive and well-run process by JLL that resulted in a fantastic result for all parties involved,” added Matt Roth, BlueScope Properties Group vice president and general counsel.

The JLL Capital Markets team representing the seller was led by Senior Managing Director John Huguenard and Managing Directors Sean Devaney, Julia Silva and Luis Castillo, along with debt support from Senior Director Brian Walsh and Senior Managing Director Keith Largay.

Luis Castillo

“Given the long-term investment-grade tenancy with an iconic name brand, the interest in the offering was extremely strong, generating attention from both foreign and domestic capital,” Devaney said.

“The growing demand in the cold storage space was evident in this transaction, while the favorable debt markets help to drive market leading pricing.”

The JLL Agency Leasing team that secured the tenant for BlueScope Properties Group was led by Managing Directors Wilson McDowell, Matt Sullivan and Bobby Isola.

“This was a great team effort selling an excellent piece of industrial real estate in the most active industrial submarket in Central Florida,” McDowell said.

“The 429 corridor is going to see a ton of activity from tenants, investors and developers for years to come.

John Huguenard

“Getting the lease across the finish line for BlueScope was big win for everyone involved but was only the first step in accomplishing BlueScope’s goals,” he added. “Working together with the JLL Capital Markets team, we were able to create a great roundtrip deal.”

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 sales advisory, debt placement, equity placement or a recapitalization.

Brian Walsh

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 our newsroom.

About BlueScope Properties Group

BlueScope Properties Group is a leading developer of Class A industrial parks and buildings throughout North America.

About Realty Income Corporation

Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing stockholders with dependable monthly income.

The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,500 real estate properties owned under long-term lease agreements with commercial tenants.

Keith Largay

To date, the company has declared 605 consecutive common stock monthly dividends throughout its 51-year operating history and increased the dividend 108 times since Realty Income's public listing in 1994 (NYSE: O).

The company is a member of the S&P 500 Dividend Aristocrats® index. Additional information about the company can be obtained from the corporate website at

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions.

Wilson McDowell

In doing so, we will build a better tomorrow for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019.

CONTACT:

Kimberly Steele

Senior Associate

Public Relations

JLL Capital Markets