Tricera Capital Acquires Milan at Town Center in Boca Raton, FL for $20 Million

Milan at Town Center
 1675 North Military Trail
 Boca Raton, FL

 

BOCA RATON, FL,  Nov. 23, 2021 – Tricera Capital, the Miami-based real estate investment firm, expanded its rapidly growing portfolio to Boca Raton with the $20 million purchase of trophy office building the Milan at Town Center. The prominent Class A building is adjacent to the Town Center Mall and Boca Center.

 Ben Mandell

The firm closed on the Milan at Town Center acquisition on Nov. 22. The acquisition was financed by Walker & Dunlop Investment Partners and arranged by Mission Capital.

Douglas Mandell of Marcus & Millichap brokered the sale of Milan at Town Center.

Douglas Mandell

Located at 1675 N. Military Trail, Milan at Town Center is a seven-story office building with approximately 70,000 square feet and ample parking in the four-story podium parking garage.

“This is a tremendous opportunity to bolster our portfolio of office assets with a prime property in the heart of Boca Raton,” Tricera Co-Founder and Managing Principal Ben Mandell said.

“West Boca is experiencing substantial growth, especially in the Town Center area. Milan at Town Center is an ideal option for the corporations seeking to relocate to Palm Beach County.”

Scott Sherman

“We continue to be bullish on the office sector and believe much of the current noise about its post-pandemic challenges are overstated,” Tricera Co-Founder and Managing Principal Scott Sherman said.

“That is especially true in Palm Beach County, which is attracting much of the domestic and corporate migration and will continue to do so. Boca Raton is a top target for many relocating families and professionals.”

  CONTACTS:

 Eric Kalis

954-370-8999

ekalis@boardroompr.com

www.triceracap.com

dustin@triceracap.com.

 

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Senior Account Executive

 BoardroomPR

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O 954-370-8999

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JLL Capital Markets secures $59 million non-recourse loan for The Film Factory, a mixed-use industrial, office and production studio at 48-05 Metropolitan Avenue in Queens, New York

  

Jillian Mariutti

NEW YORK, NY, Nov. 23, 2021 — JLL Capital Markets announced today that it has secured a $59 million refinancing for The Film Factory, a multi-story, mixed-use, light industrial, office and production studio totaling approximately 141,000 square feet at 48-05 Metropolitan Ave. in Ridgewood, Queens.

Jacqueline (Jackie) Ferrer

JLL represented the borrower, Mult Lots, LLC, to place the floating-rate, non-recourse loan with Ladder Capital Finance LLC.

Completed as ground up construction earlier this year, The Film Factory is a four-story building that includes a full-size cellar with utility rooms, back-of-house and storage for the first-floor retail space, as well as approximately 30,000 square feet for two-tier automobile storage.

The first floor features a lobby and reception area, front and rear vehicle entry and exits, a car washing area, repair shop and loading docks.

Brian Buglione

The second, third and fourth floors features factory workshops or office/flex space, outdoor eating and drinking areas, boiler rooms, HVAC equipment, stair and elevator bulkheads.

The roof provides additional vehicle storage and an outdoor deck. Picture Car Services, the largest East Coast supplier of vehicles in the motion-picture, television and commercial production industry, occupies 38 percent of the property.

 

The Film Factory is located near the L and M subway lines, providing direct connectivity throughout Queens and Manhattan.

The JLL Debt Advisory team was led by Senior Director Jillian Mariutti, Director Brian Buglione and Vice President Jackie Ferrer.

              The Film Factory, 48-05 Metropolitan Avenue
                              Ridgewood, Queens, New York

 

“This refinancing supports The Film Factory’s continued success supporting New York City’s thriving production industry,” Mariutti said. “This project provides custom features that will significantly improve operational efficiency.”

“We continue to see outsized demand from lenders for well-located and high-quality industrial product in and around New York City,” Buglione said. 

“The Film Factory is an excellent example of the liquidity in the bridge lending space, helping borrowers successfully achieve their business plans.”

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

 

CONTACTS:

George Shea, Rachel Tate

Company: Shea Communications

Phone: +1 760 519 4596

Email: rachel@sheacommunications.com

 

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Central Florida Real Estate Developer Purchases Class A Office Building in Winter Park, FL for $1.8 Million

 Keewin Winter Park Center Office building
1065 West Morse Boulevard,
Winter Park, FL

 

Winter Park – The owner of numerous real estate development and sales companies, Jerome Henin, who heads locally-based Henin Group, has purchased his neighboring office building in the Keewin Winter Park Center at 1065 West Morse Blvd. for $1.8 Million.

The off-market sale closed earlier this month between the Seller, 1065 West Morse, LLC owner Anthony J. Nicholson, and Buyer HG Morse Building, LLC a subsidiary of the Henin Group. 

Jerome Henin

Built in 1985, the 6,000± square foot Class A office building has been home for several years to Nicholson Investments and Rose Realty brokerage headed by Sonja Nicholson.

Henin saw the potential of the building for his growing firm due to its occupancy by similar types of businesses. 

 “We’ll be able to transfer all of our operations over during the first quarter of next year and start gradually renovating and updating the entire building for completion sometime in 2023.” 

Sonja R Nicholson

The new quarters will house Henin Group’s enterprises: Henin Realty, Henin Homes and Henin Development, in the 3,000 square foot first floor, and The Henin Law Firm on the second floor.   

France native Jerome Henin, who has been concentrating on luxury residential and builder/developer projects in Europe, Virginia and Central Florida is best known locally for the award-winning Riviera Bella development in DeBary.

Riviera Bella is divided into villages with production homes priced from the mid $300,000s and custom homes that are priced up to more than $2 million.

CONTACTS:

 Jerome Henin, Founder/CEO The Henin Group, 407-644-8595 or Jerome@henin-co.com.

Beth Payan, Larry Vershel Communications, 407-644-4142, 407-461-3781 or beth@larryvershel.com