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.”

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  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