Saturday, October 30, 2021

Jackson State University Receives First-Ever Endowed Real Estate Studies Scholarship in History of Institution Established by Commercial Real Estate Executives John Crossman and John Michael Holtmann

ENDOWMENT:

 From left:  John Michael Holtmann, Mississippi Governor Tate Reeves, Thomas K. Hudson, J.D., President of JSU and John Crossman, CCIM CEO of Crossman Career Builders.

 

Jackson, MS --  Jackson State University is the recipient of the first-ever real estate scholarship at the HBCU established by esteemed commercial real estate executives and business leaders John Crossman and John Michael Holtmann, who also have long family histories in Mississippi.


John Crossman

 Qualifying students will have an equal opportunity to pursue a real estate education by applying for funds from the $25,000 endowed scholarship that will help cover the cost of tuition, fees, books, supplies, and other expenses without a heavy student loan burden.

John Michael Holtmann

 Holtmann is a Mississippi State University alumnus and principal of Holtmann Properties in Jackson .

 Crossman is an alumnus of Florida State University and CEO of Crossman Career Builders, which he founded last year to continue the mission he started two decades ago as CEO of one of Orlando 's most successful Commercial Real Estate firms.

Thomas K. Hudson

 That mission was to provide more opportunities for minorities in the Commercial Real Estate industry. 

 "Working in commercial real estate can help a person develop skills to buy property, which can build personal wealth, but a real estate education has been traditionally hard to access for minorities who haven't been given opportunities to own property," Crossman explained.

 Holtmann shared his appreciation for the people that he learned from when he initially started in the industry. "They helped shape my business.  Now I'm excited to give back to the next generation by helping equip them to make a difference," he said.

Mississippi Gov. Tate Reeves

  "The Holtmann Crossman Endowed Fund is a game-changer for our students now and future generations.  We are very fortunate to benefit from the vision, support and commitment of these two business leaders," said Thomas K. Hudson, president of JSU.  

 JSU marks the fourth HBCU Crossman, his family and firms have supported. They also have minority-focused real estate endowed scholarships at FSU, UF, and Valencia College for students from diverse demographic and socioeconomic backgrounds. 

Jackson State University entrance, Jackson, MS

 Holtmann is also a Partner in Concord Capital, a real estate investment company which owns assets in three states as well as being an affiliate broker with Duckworth Realty, a brokerage in Jackson where he manages the company's retail division.

 "An education in commercial real estate will not only provide these scholarship recipients a pathway to rewarding careers in a limitless industry but will also open doors for positive impact in their communities," Holtmann said.

 Mississippi Governor Tate Reeves, who is in full support of the endeavor, stated, "The Holtmann Crossman Endowed Scholarship at JSU embodies the promotion of diversity in higher education needed by the business community in Jackson and throughout the State. It's a win-win for Jackson and all of Mississippi ."   

 

 CONTACTS:

 

John Michael Holtmann, Principal Holtmann Properties and Duckworth Realty

 601-500-7476 

or JohnMichael@duckworthrealty.com;

 

John Crossman, CCIM, CRX, CEO Crossman Career Builders 407-341-3895 

or Jcrossman@crossmancb.com

 

Beth Payan, Larry Vershel Communications Inc. 

(office)407-644-4142; (cell/text) 407-461-3781  or beth@larryvershel.com

 

 

JLL Capital Markets arranges the sale and acquisition loan for Seven West at the Trails apartments in Beaverton, OR

 

 Carrie Kahn

PORTLAND, ORE. – Oct. 26, 2021 – JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Seven West at the Trails (“Seven West”), a 423-unit, garden-style multi-housing community in the Portland suburb of Beaverton, Oregon.

Ira Virden

 JLL marketed the property on behalf of the seller, a separate account managed by LaSalle Investment Management. Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing acquired the property.


Additionally, working on behalf of the new owner, JLL secured the loan through a global financial institution.

 Seven West comprises one-, two- and three-bedroom units averaging 821 square feet. Units feature stainless steel appliances, walk-in closets, balcony/patio and washer and dryers.

Frank Solorzano
The community offers a clubhouse, two outdoor pools, a 24-hour fitness center, dog park, playground and barbeque area.

 Located at 14790 SW Scholls Ferry Rd., Seven West is within the Portland MSA near some of the areas largest employers, including Columbia Sportswear and Providence St. Vincent Medical Center.

 In addition, dozens of high-tech companies call the Beaverton-Hillsboro area home. Within a three-mile radius of the community, residents have access to over 6.1 million square feet of retail amenities including Washington Square Mall and Progress Ridge TownSquare.

Charles Halladay
Residents also have access to outdoor recreational areas such as Summerlake City Park, Cooper Mountain Nature Park and Greenway Park.

 The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.

 The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Charles Halladay and Andy Scott, Senior Director Jamie Kline and Analyst Charlie Vorsheck.

 

Andy Scott
“Beaverton continues to be a preferred submarket amongst investors due to outstanding fundamentals fueled by the growth of top employers such as Nike, Intel and a plethora of growing technology and healthcare companies situated just minutes away. 

Seven West is a unique opportunity to acquire significant scale with a proven value-add component,” said Virden.

 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.

 Charlie Vorsheck
JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

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

 

 CONTACT:

 

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Friday, October 29, 2021

JLL Capital Markets arranges $20.44 million loan for 510 Main Apartments in East Haven, CT

Mona Carlton

 NEW YORK, NY – JLL Capital Markets has arranged a $20.44 million refinancing for 510 Main Apartments, a 214-unit multi-housing community in East Haven, Connecticut.

 JLL worked on behalf of the borrower, Beachwold Residential LLC, to secure the 10-year, fixed-rate loan through Freddie Mac.

Amit Kakar

The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

 510 Main Apartments comprise studio and one-bedroom units ranging from 425 to 482 square feet.

Units feature air conditioning, balcony/patio, dishwasher, walk-in closets and extra storage. The community offers picnic area with barbeque, Wi-Fi resident lounge, fitness center, coffee bar and package acceptance.

Elliott Throne


The community is strategically located in proximity to various retail and shopping nodes.

 As a result of the 510 Main Apartments being located directly off of Main Street, one of the major throughfares in East Haven, the property is directly across from Hobby Lobby, Big Lots, TJ Maxx & HomeGoods. 

Additionally, the property is located approximately 1.5 miles west of the Trolley Square Shopping Center which is home to tenants such as: People’s United Bank, Stop & Shop, Subway, Supercuts, Koi Sushi and the United States Postal Service.

 The JLL Capital Markets debt team that represented the borrower was led by Senior Managing Directors Elliott Throne, Mona Carlton, Vice President Alex Staikos and Director Amit Kakar.

Alex Staikos

“Beachwold has experienced tremendous success with this asset through continued re-investment and excellent management, enabling them to significantly add value to the property over a 10-year-plus period,” said Kakar.

 “This refinance with Freddie Mac enables them to capitalize on historically low interest rates and positions the property well for continued success on a go-forward basis.”

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

  CONTACT:

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Ryan Companies Hires Eric Nordeen as Vice President of Development

 

Eric Nordeen

 

 MILWAUKEE, WI– Ryan Companies US, Inc. (Ryan), a national leader in commercial real estate services, today announced that Eric Nordeen has joined the firm as vice president of development to continue the rapid growth of its Milwaukee office.

 

This key addition expands Ryan’s ability to pursue development, construction and build-to-suit opportunities in Milwaukee, Madison, and Southeastern Wisconsin and installs a trusted leader to represent Ryan in local business communities.

 

“Milwaukee is an important target market for our Great Lakes Region,” said Jim McDonald, regional president.


Jim McDonald

“Eric has cultivated a stellar reputation in the Milwaukee area as a creative real estate developer who is unafraid of a challenge.

 

"His expertise across property types and execution strategy aligns perfectly with our business goals for expansion in value-add, re-use and ground-up construction throughout Southeast Wisconsin.”

 

A 22-year real estate industry veteran, Nordeen most recently was principal of Ascendant Holdings, a company he cofounded in 2010.

 

Nordeen holds a bachelor’s of business administration in real estate and urban land economics from the University of Wisconsin-Madison.

 

 CONTACTS:

Paula Widholm, pwidholm@taylorjohnson.com, (312) 267-4525

 Gretchen Muller, gmuller@taylorjohnson.com, (312) 267-4511

Thursday, October 28, 2021

Ware Malcomb Promotes Matt Kuehn and Braden Blake in Phoenix, AZ Office

 Matthew (Matt) Kuehn 

 PHOENIX, AZ – Ware Malcomb, an award-winning international design firm, announced Matt Kuehn has been promoted to Director, Civil Engineering and Braden Blake, AIA has been promoted to Studio Manager, Architecture, both in the firm’s Phoenix, Arizona office.

 “Matt and Braden have both demonstrated outstanding leadership and a strong commitment to our clients,” said Kevin Evernham, Principal of Ware Malcomb’s Phoenix office.

Kevin Evernham

“Matt has successfully grown our civil practice, and Braden has become an invaluable leader in our architecture studio.” 

“Since joining the firm a few years ago, Matt has built a strong team to deliver civil engineering services across the Phoenix region," said Tom Jansen, Principal.


Braden Blake

 "We look forward to his continued leadership and mentorship supporting the growth of Ware Malcomb’s civil engineering services.”

In his role as Director, Civil Engineering, Kuehn leads the growth and management of civil engineering services for the Phoenix office.

Kuehn joined Ware Malcomb in 2019 to launch the firm’s civil engineering practice in the Arizona market, and he successfully built the team, exceeding growth and business goals.

 

Tom Jansen

In Blake’s role as Studio Manager, Architecture, he helps lead the Phoenix team and manage select projects.

 Blake joined Ware Malcomb in 2014 and returned in 2018 as a Project Architect, directly managing some of the most complex projects in the Phoenix region.

  He has more than 11 years of architectural design expertise and excels in leading projects from design through construction. 

 

 CONTACTS:

 Rachel Reenders

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers, Public Relations Manager, 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128

 mbissonnette@waremalcomb.com

 

Wednesday, October 27, 2021

KBS Signs 135,734 Square Feet of Leases with 19 Global, National and Local Tenants at Five Texas-Based Class A Office Properties

Alexandra Cullins

 NEWPORT BEACH, CA, Oct. 27, 2021 – KBS, one of the largest investors in commercial real estate, has signed over 135,000 square feet in new leases, renewals, extensions and expansions over the last three months with 19 global, national and local tenants at five Class A Texas-based office properties.

They are Fountainhead Tower and City View in San Antonio, which are institutionally owned, Preston Commons and Sterling Plaza in Dallas, and Legacy Town Center I-III in Plano, which are owned by KBS Real Estate Investment Trust III.

Lindsey Tucker

 Migration to Texas has risen dramatically in recent years, paired with corporate relocations from other markets, which has been occurring consistently for the last two decades.

Kelly Ralston

Texas’ commitment to creating an ideal environment for businesses to thrive, combined with the state’s easing of restrictions that allowed people to make their own decisions about returning to the office early during the pandemic, have boosted the office sector in key Texas markets where KBS owns and manages property, according to Gio Cordoves, Western regional president for KBS.

Gio Cordoves

“KBS’ diversification strategy includes signing leases at our properties with multiple tenants from a wide variety of industries,” says Brett Merz, asset manager for Fountainhead Tower, Preston Commons, Sterling Plaza and Legacy Town Center I-III and senior vice president for KBS.

Brett Merz

“This strategy helps to create stability in our rent rolls and positions our assets for strong performance.”

Jackie Marshall

 Kelly Ralston of Transwestern handled the leasing transactions for Fountainhead Tower on behalf of KBS.

 Dennis Barnes

Lindsey Tucker of CBRE handled leasing transactions for City View on behalf of KBS.

 Dennis Barnes, Jackie Marshall, and Alexandra Cullins of CBRE handled the leasing transactions for Preston Commons, Sterling Plaza and Legacy Town Center I-III on behalf of KBS.

For a complete list of all transactions cited in this release, please contact: 

Lara Sassounian 

lsassounian@brower-group.com

www.kbs.com.

 

JLL arranges $315.4 million sale of nine-property office portfolio in the Sorrento Mesa submarket in San Diego, CA

 

Lynn LaChapelle

SAN DIEGO, Oct. 27, 2021 – JLL announced today that its Capital Markets group has completed the $315.4 million sale of a nine-property office portfolio totaling 371,281 square feet in San Diego, California.

 JLL represented the seller, PS Business Parks, and procured the buyer, Longfellow Real Estate Partners, LLC. Longfellow intends to redevelop the entire portfolio into a state-of-the-art life sciences campus.

Bob Prendergast

The portfolio comprises properties located at 6150, 6160, 6370, 6440, 6450, 6540, 6640 and 6650 Lusk Blvd. and 10225 Barnes Canyon Rd. in the heart of the Sorrento Mesa submarket.

All nine properties are two-story buildings that are zoned for office, light industrial and other commercial uses, including life sciences.

 Positioned on a total of 20.56-acres, the properties are surrounded by numerous top life sciences corporate headquarters and emerging technology companies.

In addition, the portfolio has convenient access to top San Diego research institutions, including Scripps Research, UC San Diego, the Salk Institute and Sanford Burnham Prebys Medical Discovery Institute.

Sach Kirpalani 

 The JLL Capital Markets team representing the seller was led by Managing Directors Lynn LaChapelle and Bob Prendergast, Senior Director Sach Kirpalani and Senior Managing Director Michael Leggett.

 “This was a rare opportunity to acquire a life sciences redevelopment opportunity of scale in one of San Diego’s hottest emerging life sciences and innovation hubs,” LaChapelle said.

“We received tremendous investor interest in the offering and are really excited to see Longfellow take ownership and transform the property into a modern life sciences campus.”

Michael Leggett

 JLL’s Capital Markets group 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 and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

CONTACT:

Kimberly Steele

PR, Capital Markets

Agency Leasing and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

info@lfrep.com.