JLL Capital Markets arranges $49 million loan for Ivy Realty to refinance a Class A office complex comprising two office towers near Downtown Fort Lauderdale, FL

Melissa Rose

 

 MIAMI, FL – JLL Capital Markets has arranged a $48.9 million refinancing for Tower 101, two Class A office towers totaling 230,757 square feet near downtown Fort Lauderdale, Florida.

 

JLL worked on behalf of the borrower, Ivy Realty, to place the three-year, floating-rate loan with Rialto Capital Management.

 

The JLL Debt Advisory team included Managing Director Melissa Rose and Analyst Giancarlo Paone.

Rendering of Tower 101, two Class A
 office towers totaling 230,757 SF
 near downtown Fort Lauderdale, FL

 

“Tower 101 is optimally positioned to capture the robust leasing demand, as out-of-state tenants seek Class A space in our fast-growing and business-friendly commercial environment,” Rose said.

 

Loan proceeds were used to refinance existing debt and fund future capital improvements and leasing costs. 

Giancarlo Paone

Collectively 75.6 percent leased to a strong roster of local and regional tenants, Tower 101 is a 21-story office tower, with the connected Centre 101 housing six stories.

 

The borrower invested significant capital in 2020 into property renovations, which included outfitting the structured parking with EV charging stations; upgrading the full-service café, lobby and common areas; and modernizing the exterior entrance.

 

Additional building amenities offered are 24-hour security, conference facilities and a courtesy shuttle to the Broward County Courthouse.

 

Located at 101 NE 3rd Ave., the towers are positioned just off E. Broward Boulevard at the nexus of Fort Lauderdale’s CBD and Flagler Village, an urban live-work-play district.

 

The towers are proximate to the Fort Lauderdale Brightline inner-city rail station, which connects the urban cores of Miami, Fort Lauderdale and West Palm Beach to offer commuters access to each community within 30 minutes.

 

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

Contact: 

 

Kimberly Steele,

JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 ivy-realty.com. 

 

Stos Partners Acquires 37,530-SF Corporate Headquarters and Manufacturing Facility in San Diego's North County Market

 

CJ Stos

POWAY, CA – Stos Partners, one of the most active commercial real estate investment and management firms in San Diego County, has acquired a 37,530 square-foot corporate headquarters and manufacturing facility in the North San Diego County city of Poway, California.

 The property was acquired from a private seller for $8.6 million.

 According to CJ Stos, Principal at Stos Partners, the firm acted quickly to secure the asset off market when it fell out of escrow and ultimately closed the acquisition within 40 days.

 “The industrial market in San Diego County is moving at a rapid pace due to the overall strength of the asset class and the region’s continued reputation as a life sciences, biotech, and manufacturing hub,” says Stos.

 “Based on our strong local broker relationships and track record, we were able to source and secure the opportunity to acquire this well-maintained, freestanding facility from the previous owner-user at an extremely attractive price.”

 James Duncan and Mickey Morera at Kidder Matthews represented Stos Partners as the buyer. Financing was provided by C3Bank.

CONTACTS:

 

Katie Haga / Elisabeth Manville

Brower Group

(949) 438-6262

khaga@brower-group.com  

www.stospartners.com.