Trez Capital Provides $78 Million Construction Financing for Miami, FL Apartment Project

 

Lissette Calderon

  MIAMI, FL – Trez Capital, a private real estate lender helping to build better communities across North America, funded a $78,197,393 construction loan for a 323-unit mid-rise apartment building in Miami’s emerging Allapattah neighborhood. 

 The borrower is Neology Life, a development company led by Lissette Calderon, who has focused her work transforming the Miami River district.

Ben Jacobson

Trez Capital Managing Director Ben Jacobson originated the loan, which closed on October 12, 2021.  Construction has already begun, with the project set to be delivered in mid-2023.

Allapattah sits just northwest of downtown Miami and abuts the famed Wynwood district to the east, offering easy access to major highways and employment centers.  

Julia Tuttle

The 12-story project, known as The Julia, is located at 1625 NW 20th St.   The name pays homage to Julia Tuttle, known as the “Mother of Miami”, who is credited with being the only female founder of a major American city.  

 The building will feature a mix of one- and two-bedroom units ranging in size from 586 square feet to 892 square feet.

 Residents will have access to a host of amenities including a pool with cabanas, rooftop garden with outdoor living, fitness and wellness center, coffee bar, dog park and virtual concierge.

 

Rendering of The Julia Allapattah, a planned
  323-unit mid-rise apartment building in
 Miami’s emerging Allapattah neighborhood

“Lissette Calderon is a pioneering developer who has been extremely successful revitalizing the Miami River district and now breathing new life into Allapattah, one of Miami’s oldest neighborhoods,” Jacobson said. 

  “We are delighted to partner on this exciting project by providing financing for a development that is sure to capture intense interest from the public.”

CONTACT:

BoardroomPR

Eric Kalis 

ekalis@boardroompr.com

Todd Templin

 ttemplin@boardroompr.com

954-370-8999

 www.trezcapital.com

 

JLL Capital Markets closes $34 million sale of Oakland Plaza and Oakland Square in Troy, MI

Amy Sands

CHICAGO, IL – JLL Capital has closed the $34 million sale of Oakland Plaza and Oakland Square, two adjacent regional shopping destinations totaling 391,749 square feet in the suburban Detroit community of Troy, Michigan.

 JLL advised the seller. Continental Realty Corporation acquired the assets.

Clinton Mitchell 

The JLL Retail Capital Markets team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Managing Director David MacDonald with JLL’s brokerage team.

 Oakland Plaza is situated on 17.164 acres at 124, 300 and 268-390 John R. Rd. adjacent to Oakland Square, which is on a 23.48-acre site at 500-650 and 740 John R. Rd. that includes unimproved land for future development.

This highly visible location is near Interstate 75 and exposes the properties to a combined 68,000 vehicles per day at the intersection of 14 Mile and John R. Roads.

Michael Nieder

Located in a dense corridor that is greater Detroit’s top retail destination, the centers are supported by strong demographics that include 269,600 residents earning an average annual household income of $89,000 living within a five-mile radius of the center.

 The properties were originally constructed in the 1970s, 1980s and 1990s, with Oakland Plaza undergoing renovations most recently in 2014.

 The 87 percent leased properties are home to a variety of frugal fashion, fitness-oriented and investment-grade tenants, including T.J.Maxx, Michaels, Planet Fitness, Kohl’s, Bed Bath & Beyond, Ulta Beauty, Five Below, GameStop, Sonic, US Mattress and Sally Beauty.

David MacDonald 

“We are continuing to see strong demand for well-located, stabilized shopping centers situated outside of primary markets.” Sands said.

“Investors continue to migrate into the Midwest in search of yield and product driving pricing to levels higher than pre-COVID.”

 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 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.

Oakland Plaza and Oakland Square, 
two adjacent regional shopping
 destinations totaling 391,749 SF
 in the Detroit suburb of Troy, MI

CONTACT:

Kimberly Steele

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

JLL’s Atlanta Capital Markets group hires multi-housing expert Amalia Londono

 

 Amalia Londono 

                  ATLANTA, GA, Oct. 13, 2021 – JLL Capital Markets announced today that Amalia Londono has joined the firm as a Director in its Atlanta office.

Londono will focus on private commercial real estate owners for the successful disposition of multi-housing assets throughout the growing Southeast.

 Londono has four years of experience in commercial real estate and, in that time, has been involved in the disposition and capitalization of more than $2 billion of multi-housing assets primarily in the Atlanta Metropolitan area.

Bill Shippen

Londono was graduated from Kennesaw State University and is a member of Urban Land Institute and Real Estate Association of Latinx Professionals.

 “We are excited to have Amalia join the multi-housing team,” Bill Shippen, Managing Director JLL Capital Markets Atlanta, Multi-housing. “We’re focused on building a dynamic team, led by John Weber and myself, that will grow for many years to come.”

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

 

Contact:

Cierra Lacasse

 JLL Associate,

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com