Friday, December 18, 2020

Multi-housing brownstone on New York City’s Upper West Side sold for $5.2 million

 

103 West 75th Street, a 7,225-square-foot
multi-housing property located in
 the Central Park West Historic District
on New York’s Upper West Side.
 

NEW YORK, NY— JLL Capital Markets announced it has completed the $5.2 million sale of 103 West 75th St., a 7,225-square-foot multi-housing property located in the Central Park West Historic District on New York’s Upper West Side.

JLL worked on behalf of B.I.G.G., LLC to complete the sale to the 103 West 75th Street LLC.

 Paul Smadbeck 


The Renaissance revival-style building is currently divided into five expansive, fair-market, floor-through apartments. 

Layouts include two-, three- and four-bedroom units, with ground-floor units including direct access to a bright outdoor garden.

The top-floor four-bedroom unit features a rooftop penthouse and two outdoor terraces.

Located between Columbus and Amsterdam Ave., 103 West 75th St. is near the area’s best restaurants, bars, shopping and attractions, including the American Museum of Natural History.

The property is steps from Central Park and subway service on the 1, A, B, C and D lines.

The JLL Capital Markets team representing the seller was led by Managing Directors Paul Smadbeck and Hall Oster, Vice Presidents Teddy Galligan and Conrad Martin, and Associate Braedon Gait.

 Hall Oster

“This investment property offers remarkable versatility in one of the most popular neighborhoods in New York City,” said Smadbeck. 

“It provides the opportunity for single-family occupancy, with a live-plus-income option, or it can continue as a prime income-producing asset with five highly attractive floor-through apartments.”

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.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Teddy Galligan 

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

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. 

JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. 

Conrad Martin


JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.

 

CONTACTS:

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

Braedon Gait


George Shea, Rachel Tate

Company: Shea Communications

Phone: +1 212 627 5766

Email: rachel@sheacommunications.com

 

 

 

Posted by Alex at 10:35 PM 0 comments

Coakley & Williams Hotel Management Company Selects Hotel Investor Apps (HIA) for New Accounting Platform

Charlie Fritsch

 GLENWOOD, MD, Dec. 18, 2020 -- Hotel Investor Apps (HIA), the provider of the only hotel-specific Enterprise Resource Planning (ERP) platform and state-of-the-art, next generation accounting software, today announced that Coakley & Williams Hotel Management Company (C&W), a leading, nationwide, full-service hotel management company, has converted to its new platform to reduce hotel expenses and gain greater flexibility for its owners and property level management. 

            

“HIA is disruptive technology. Having all of your business programs on one platform, integrating data and eliminating many hours of wasted time every week with built-in automations is like leaping from floppy disks to the cloud,” said Charlie Fritsch, CEO of Hotel Investor Apps.

Stephen Hahn

 “In the current economic and travel climate, hotel owners increasingly want time- and money-saving options to reduce expenses and improve profitability. 

"Our technology provides the only true-cloud, Enterprise Resource Planning platform built specifically for hotels, as well as the only full functionality mobile app, which provides more accounting services to clients with easier access than any other software. 

"One literally can review P&Ls and budgets and analyze real-time data for an entire hotel portfolio all from the convenience of a handheld device.”

“It might seem counterintuitive to purchase and convert to new software during the worst hotel downturn in the last 50 years,” said Stephen Hahn, Coakley & Williams vice-president of corporate services/CIO. 

               Chris Daley

 “However, this software gives our operators and owners the latest technology which allows a more efficient workflow, while giving us easier access to data. 

"This allows us to manage revenues and expenses more accurately and rapidly. This software makes us and our hotels more competitive.”

 






CONTACT:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

Posted by Alex at 2:42 PM 0 comments

$16.96 million equity raise secured for Arkansas student housing community

 Teddy Leatherman
 

 DALLAS. TX, Dec. 18, 2020 – JLL Capital Markets announced today that it has arranged $16.96 million in joint venture equity for Ozark Villas, a 670-bed student housing community serving the University of Arkansas (U of A) in Fayetteville, Arkansas.


Ozark Villas, a 670-bed student housing community at 870 South Beechwood Avenue, serving the University of Arkansas (U of A) in Fayetteville, AR

 JLL worked on behalf of Fountain Residential Partners to secure the equity through a partnership between CrowdStreet, Inc. and a family office.

 Brent Little

Proceeds were used to acquire the property and fund a complete renovation, upgrade and rebranding of the property to Ozark Villas, formerly named Beechwood Village.

The student housing property will benefit from building and unit upgrades, cosmetic enhancements, a complete amenity upgrade, new fitness equipment, and unit furniture package upgrades that will position Ozark Villas as the premier cottage-style community in the market.

 Ozark Villas is located at 870 S. Beechwood Ave. immediately southwest of the U of A campus, which serves more than 27,000 students and is the largest university in Arkansas. 

The property is proximate to numerous retail, dining and nightlife offerings and is just east of Interstate 49 providing connectivity throughout the state.

Scott Clifton 

 Completed in 2015, Ozark Villas consists of 213 units offering one-, two- and four-bedroom floorplans.

Units are fully furnished with modern pieces, offer private bathrooms for each bedroom, in unit washer/dryers, oversized walk in closets, private balconies and patios and modern kitchens.

 Community amenities at the LEED® certified property include a resort-style pool with outdoor kitchen, community green space with firepit, sand volleyball court, lighted basketball court, modern clubhouse, 24-hour fitness center and collaborative and private study spaces.

Ozark Villas is also located along the University bus route and has direct access to the Razorback Greenway.

 Brent Little, President of Fountain Residential, says, “When completed in 2015, Beechwood Village was the top performing asset in the Fayetteville market. 

Jeremy Sain

 For the first few years we were able to lease up over 100%.  Under new ownership and with fresh, new capital behind us, we are going to bring the property back to a new construction level and create the best in class property for our residents and investors.”

The JLL Capital Markets team representing Fountain Residential Partners was led by Managing Director Jeremy Sain and Directors Teddy Leatherman, Scott Clifton and Stewart Hayes.

 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.

Stewart Hayes


 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 Fountain Residential Partners

Fountain Residential Partners, LLC is a privately held Dallas-based multifamily real estate development, acquisition, and asset management company.  

Fountain Residential is managed by seasoned real estate professionals that have a combined experience of over 60 years in the industry having completed over $1.5B in student housing projects.


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


Posted by Alex at 1:21 PM 0 comments
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