Global lodging industry demonstrates resiliency with a 131% increase in transaction volume; JLL’s latest Hotel Investment Outlook report outlines expected trends as the market continues to recover

 

Gilda Perez-Alvarado

CHICAGO, IL – After a turbulent 2020 the hotel industry saw an acceleration into recovery in 2021, which is projected to continue, despite operational hurdles and inflationary pressures, in 2022.

 According to JLL Hotels & Hospitality’s annual Hotel Investment Outlook, the industry’s recovery has presented new trends for hotel owners, operators, investors and consumers in 2022.

 The Global Outlook

 Global transaction volume totaled $66.8 billion in 2021, a 131% increase from 2020. The Americas was the most liquid region and accounted for nearly 60% of global hotel transaction volume.

  This level of activity marked not only a 269% increase in volume over 2020 but also a 32% increase relative to 2019 activity.

With demand’s uneven recovery across asset classes, investors focused on acquiring luxury or resort assets.

 Assets situated in urban locations remained the most liquid, but the level of activity in 2021 was down 22% from 2019 levels. However, sales activity across assets in resort locations represented a 17% increase compared to 2019 levels.

 Buyer pools diversified in 2021 with private equity groups increasing their investments in hospitality by $25.4 billion over 2020 levels, representing 50% of all transaction activity globally.

“Consumer’s insatiable appetite for experiences, travel and hospitality is fueling unprecedented levels of demand,” said Gilda Perez-Alvarado, Global CEO, JLL Hotels & Hospitality.

  “This, coupled with a relatively muted supply pipeline across major gateway markets, will enable the lodging industry to recover earlier than anticipated, making the sector a great investment opportunity.”

 CONTACT:

Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

JLL Capital Markets facilitates record-setting sale of medical office complex in Newport Beach, CA

Monica Enes

 

NEWPORT BEACH, CA –– JLL Capital Markets has facilitated the sale of Newport Lido Medical Center, a 146,510-square-foot, two-building medical office complex in Newport Beach, California.

Kellie Hill

JLL marketed the property on behalf of an undisclosed seller. Lionstone Investments acquired the property in an all-cash transaction.

Andrew Milne

Located at 351 and 361 Hospital Rd., Newport Lido Medical Center is situated in the world-renowned medical submarket of Newport Beach and is positioned on the campus of 434-bed, Hoag Hospital Newport Beach.

 

The hospital is consistently ranked by U.S. News & World Report as the best hospital in Orange County and one of the 10 best hospitals in California.

 

Evan Kovac

The two-building medical office complex is 100% occupied by a diverse mix of healthcare tenants providing stable and predictable cash flow.

The property is anchored by Hoag Hospital Newport Beach Surgery Center and Prime Surgical Center.

 

The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Andrew Milne and Evan Kovac, Managing Director John Chun and Director Matt DiCesare, with support from Niema Beglari, Trent Jemmett and Chad Prescher.

 

Senior Director Blake Bokosky and Director Mark DeGiorgio of JLL’s Orange County office provided local expertise. Additionally, Managing Director Monica Enes and Vice President Kellie Hill of JLL’s Healthcare Brokerage team provided local healthcare expertise.

John Chun

“Newport Lido Medical Center represents one of the most significant sale transactions in the history of the medical office sector,” said Kovac.

 

“There are few, if any, single-property medical office sales that have occurred in the sector’s history that rival the profile and quality characteristics embodied in Newport Lido Medical Center.

Those include the irreplaceable location and extraordinary demographics within Newport Beach, on-campus positioning at one of the top medical centers in the country and mix of many of the top tenants and physicians in the world, among other compelling features.”

 

Niema Beglari

“Not surprisingly, we received unprecedented investment demand from a wide range of investor profiles from institutional to ultra-high net worth, which, ultimately, led us to a successful transaction.

 The buyer is a major institution and a brand-new entrant into the medical office sector,” added Kovac.

 

CONTACT:

Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

Western Specialty Contractors Hires Jason Paoli as Regional Business Development Manager

Jason Paoli

 

 St. Louis, MO -- Western Specialty Contractors proudly announces the hiring of Jason Paoli as Regional Business Development Manager in Chicago, IL.

Paoli has 10 years of commercial property management experience. Prior to Western, he served as a Real Estate Services Administrator for CBRE in Northbrook, IL, and as an Assistant Property Manager for NAI Hiffman, Colliers International and Sterling Bay, all in Illinois.

“We are excited to have Jason join Western’s team in Chicago," said Tanya Shepherd, Director of Business Development.

Tanya Shepherd

"His prior experience in commercial property management gives him tremendous insight into the unique needs of facility managers in the Chicago area.

"We are grateful he decided to make the career change and we look forward to hearing his ideas for business development.”

Paoli has a bachelor’s degree in Business Management from Concordia University Chicago and he is a member of the Building Owners and Managers Association (BOMA) and the Chicago Real Estate Network (CREN).

CONTACT:

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

 www.westernspecialtycontractors.com. 

 

 

Stos Partners and Cardinal Industrial Acquire Light Industrial Portfolio Totaling 1.1 Million SF in Indianapolis, IN

Michael McFarland

 INDIANAPOLIS, IN – Stos Partners and Cardinal Industrial, two of the most active commercial real estate investment and management firms based in Southern California, have entered the Midwest market with the acquisition of an approximately 1.1 million square-foot light industrial portfolio in Indianapolis, Indiana.

 The portfolio comprises a total of 34 multi-tenant light industrial properties occupied by a diverse mix of tenants.

 The firms continue to be bullish on industrial assets throughout the country, where trends like e-commerce, onshoring and supply constraints are driving skyrocketing industrial demand, according to Jason Richards, Partner of Stos Partners.

Jason Richards

 “We continue to be nimble and flexible in order to strategically expand our industrial holdings and implement our proven value-add business plans, successfully enacted in several Southern California and Southwest markets,” says Richards.

 “In Q3, Indiana experienced a 2.06 million square foot of positive net absorption, bolstering the growth opportunities behind this investment.”

 The asset was procured off market through close broker relationships, according to Michael McFarland, Principal at Cardinal Industrial.

 “Based off of Stos Partners and Cardinal’s track record of completed transactions and close broker relationships, we were able to secure this opportunity and meet the tight timeline of a year-end close,” says McFarland.

CJ Stos

 The portfolio, which is 95% occupied, was purchased from a private individual who had owned and developed the property over numerous decades and presented the opportunity to capitalize on high demand and bring rents up to market.

 CJ Stos, Principal of Stos Partners, adds: “Part of our business plan will be a focus on implementing a number of capital improvements to modernize and give a fresh look to the properties, which were originally built over the span of roughly 50 years.

 "These updates include roof and parking lot upgrades, along with the improvement or addition of integrative amenities.

Alex Cantu

"Our capital improvements will aid in growing the income of this portfolio overtime, resulting in significant value creation.”

 The portfolio is located in close proximity to a significant population center, with the buildings positioned throughout Northeast and Northwest Indianapolis.

 

Alex Cantu and Alex Davenport from Colliers International represented Stos Partners as the buyer in the transaction.

 CONTACTS:

Katie Haga / Elisabeth Manville
The Smart Agency, Inc.
(949) 438-6262
khaga@thesmartagency.com  

Last-mile Atlanta-area industrial portfolio sells for $27 million

 

Maddie Davis

 ATLANTA, GA – JLL Capital Markets has closed the $26.9 million sale of a four-property industrial portfolio totaling 278,558 square feet across Atlanta’s northern suburbs.

 JLL marketed the property on behalf of the seller, Tamarack Investments, who sold the portfolio to two buyers.

Matt Wirth

Faropoint acquired these three assets: 

 4680 North Royal Atlanta Dr. in Tucker, GA; 

5121 Buford Hwy. in Norcross, GA;

 2100 Boggs Rd. in Duluth, GA.

 Denali Investment Group purchased the property at 1420 Redi Rd. in Cumming.

 Each property is in a densely populated and well-established Atlanta Industrial submarket, including the Northeast, I-20 East and North Central, both of which are experiencing increased demand for infill, last-mile industrial product.

Dennis Mitchell

The properties are all less than five miles from the area’s major logical thoroughfares, including Interstates 85, 75 and 985 and GA-400.

Additionally, they are all within 36 miles of the Atlanta CBD, four of which are within 25 miles.

 Currently 80 percent leased on a triple-net-lease basis, the single-tenant buildings offer a variety of uses, from light industrial to manufacturing and processing.

They were constructed between 1986 and 1991 and feature multiple loading positions, clear heights ranging from 18 to 30 feet, ample office finish and parking and varying building depth.

Britton Burdette

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Matt Wirth, Huston Green, Dennis Mitchell, Britton Burdette, Jim Freeman and Maddie Davis.

 “The portfolio was defined by the building locations in very dense, suburban, infill locations, and the ownership group was flexible about selling as a portfolio or in multiple transactions,” Freeman said.

“Ultimately, the process resulted in two buyers for two different segments of assets, one with stabilized buildings and significant mark-to-market potential, and another with near-term vacancy and a compelling lease-up opportunity to create value.”

 

Jim Freeman

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.

 CONTACTS:

 Kimberly Steele,

JLL Manager,

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Jason Chaliff, jason@investdenali.com

 or Michael Godin, michael@investdenali.com.

faropoint.com.

investors@tamarackinv.com.

William Ross, William@faropoint.com.

 

From left to right: Todd Leach, ISHC, Partner, Dedica Group; Andrea Belfanti, CEO, ISHC; Peggy Berg, Chair, Castell Project & Pioneer Award Recipient; Kristie Dickinson, ISHC, Managing Director/EVP, CHMWarnick; and Jeff Higley, ISHC, President, The BHN Group.

 

Peggy Berg

Los Angeles, CA — The International Society of Hospitality Consultants (ISHC) in partnership with the Americas Lodging Investment Summit (ALIS) presented Peggy Berg, chair of the Castell Project, with the Pioneer Award which recognizes an individual annually who has made an outstanding contribution, achievement and/or improvement in the hospitality industry. 

Jeff Higley, ISHC, president of The BHN Group; Todd Leach, ISHC president and partner of Dedica Group; and Kristie Dickinson, ISHC treasurer and managing director/EVP of CHMWarnick presented Berg with the recognition during the conference plenary session.

Kristie Dickinson

 Dickinson remarked, “I can tell you first-hand that Peggy has had a direct impact on my life and career, and I am just one of the hundreds, if not thousands, of people that share the privilege of knowing her, walking through the countless doors that she has opened and following the path that she has blazed for our industry.”

Upon accepting the award, Berg noted, “Pioneers step forward and create opportunity when restrictions are lifted – whether they are technological, legal or other restrictions.” 

Andrea Belfanti

Established in 1996, ISHC Pioneer Award winners are selected on a basis of three criteria: active involvement in the hospitality industry; contribution to the industry; and personal/organizational attributes and qualities adhering to professional standards recognized and respected by industry peers.

“This year’s Pioneer Award is extra special," remarked Andrea Belfanti, CEO of ISHC. "Not only does Peggy have a long list of accomplishments making an incredible impact on the hospitality industry, but she also is a founding member, member #7, of ISHC.

"Her legacy is deep-rooted in the Society’s DNA, and we are thankful for her many contributions.”

 

 CONTACT:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.Burba.com 

www.northstartravelgroup.com

ALISconference.com

ishc.com

 

Lendlease Appoints Anthony Giuliano General Manager of Life Science Construction

 

 Anthony Giuliano

NEW YORK, NY — Lendlease (ASX: LLC), a global real estate and investment group, announced the appointment of Anthony Giuliano to the role of General Manager, Life Science Construction, for its Americas region, effective Jan. 18, 2022.

 Giuliano will be based out of Lendlease’s Princeton, N.J., office and report directly to    Mike Fratianni, Managing Director, Construction.

 

  Mike Fratianni

“Anthony is admired for his impressive project portfolio, strong technical skills, seasoned managerial stature and outstanding attention to planning around safety and quality,” said Fratianni.

 “His tenured experience and cross-functional leadership will be a tremendous advantage for Lendlease and our talented team members who are committed to driving innovation in this fast-growing sector.”

 Giuliano holds a Bachelor of Science in architecture from the New York Institute of Technology and an associate degree in applied science, electrical engineering from Hofstra University.

 CONTACT:

 Matt Baker, mbaker@taylorjohnson.com

 (312) 267-4512

Diane Nevin, diane.nevin@lendlease.com,

(773) 610-2862

www.lendlease.com

  

Dream Finders Homes Plans Upscale Single-Family Home Community Near Central Florida Theme Parks

 

 Gerry Boeneman

WINDERMERE, FL – Dream Finders Homes recently purchased 306 acres in Horizon West with plans to create The Palms at Windermere, an intimate single-family home community, just minutes from Disney World’s Magic Kingdom.

The property – which Dream Finders purchased for $5.87 million – is part of a conservation area consisting of more than 1,200 acres around Lake Reams, according to Gerry Boeneman, President of the company’s Central Florida Division.

“Most of the land there is considered wetlands and is classified as a conservation area,” Boeneman said. “Because of that, only 15.95 acres of the 305 can be developed and we will build only 57 homes.”

Three to seven-bedroom homes at The Palms at Windermere, will range in size from approximately 2,500 to 5,000 square feet, and will be built on 60- or 65-foot homesites, he said.

Rendering of The Palms at Windermere,
 Horizon West community, Florida

“The floor plans will be similar to those at our Lakeside at Hamlin community here in Horizon West, and prices will range from the $500,000s.

Construction and sales are scheduled to begin in October.

When completed, Boeneman said The Palms at Windermere will offer large open spaces, sports court and a tot lot. 

Patrick Zalupski 

About Dream Finders Homes

 

Dream Finders Homes, founded by Patrick Zalupski in 2008, is routinely honored as one of the nation’s fastest growing companies. Based in Jacksonville, FL, the company has homebuilding operations in Orlando, FL, Savannah, GA, Bluffton, SC, Fayetteville, NC, Austin, TX, Denver, CO and the Washington, DC Metro area.  Dream Finders closed over 3,000 homes in 2020.

 

 

CONTACT:

 

Gerry Boeneman, Division Pesident, Dream Finders Homes, 888-214-1164 

or Gerry.Boeneman@dreamfindershomes.com

Samantha Foss, Marketing Manager, Dream Finders Homes, 888-214-1164

 or Samantha.foss@dreamfindershomes.com 

Beth Payan, Larry Vershel Communications,

407-461-3781 or beth@larryvershel.com