Monday, May 9, 2022

JLL Capital Markets marketing for sale a six-unit, boutique apartment building near Park Avenue in Murray Hill neighborhood of Manhattan, NY

 110 East 37th Street apartments
Murray Hill neighborhood,
  Manhattan, NY
 

 NEW YORK, NY – JLL Capital Markets has been engaged to market for sale 110 East 37th St., a 25-foot-wide, six-story elevator apartment building located on the south side of East 37th Street between Park and Lexington Avenues in the Murray Hill neighborhood of Manhattan.

 The anticipated pricing is $8.95 million.

 Paul Smadbeck 

Situated in an exceptional, world-class location equidistant from Midtown Manhattan, the United Nations, NYU Langone Medical Center and Yeshiva University, 110 East 37th St. contains six large apartments, including a two-bedroom, two-bath garden duplex, three large floor-through units on floors three to five and a bright, spacious south-facing loft/studio on the 6th floor.

 Owned and meticulously maintained by the same family for over 30 years, 110 East 37th St. has recently undergone a series of capital improvements including a restored facade and construction of a new common roof deck.  

Teddy Galligan
 
The JLL team representing the seller is being led by Managing Directors Paul Smadbeck and Clint Olsen, Vice Presidents Teddy Galligan and Conrad Martin and Analyst Stephen Godnick

 “We anticipate strong interest from a broad spectrum of investors, residential end-users and foreign governments seeking a home within close proximity to the United Nations,” said Smadbeck.

 “The property has a prime location on the edge of midtown Manhattan and a current tenancy that will allow the next owner to reconfigure the existing layouts to suit their needs,” added Olsen.

Clint Olsen
JLL is a leader in the New York tri-state commercial real estate market, with more than 2,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services.

 About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

 JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

 Conrad Martin
 JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce more than 98,000 as of December 31, 2021.

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

 

 

 

CONTACTS: 

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

George Shea, Linda O’Flanagan

Company: Shea Communications

Phone: +1 760 519 4596

Email: Linda@sheacommunications.com

 

JLL Capital Markets arranges $373 million refinancing of 10-property, 2,549-unit Arizona and Texas multi-housing portfolio

Elle Miraglia
  

PHOENIX, May 9, 2022 – JLL Capital Markets announced that it has arranged refinancing in the aggregate amount of $372.6 million for a 10-property, 2,549-unit multi-housing portfolio located across Arizona and Texas.

 JLL worked on behalf of the borrower, Wealhouse Capital, to secure the floating-rate Fannie Mae loans. The loans will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.

 The portfolio consists of Artisan Park Apartments, Sierra Walk, Spring Meadow and Summers Point in Glendale; Carlyle at South Mountain, Carlyle Townhomes and Glenrosa Park in Phoenix; Autumn Creek and Greentree Place in Chandler; and Bar Harbor in Seabrook near Houston.

Brad Miner

The garden-style properties were constructed between 1979 and 1997 and feature a range of amenities, including resort-style pools, clubhouses, fitness rooms, basketball courts and picnic areas. 

 The JLL Capital Markets Debt Advisory Team representing the borrower was led by Senior Managing Director Brad Miner and Analyst Elle Miraglia.

 “We could not be more pleased by the efforts and guidance we received from Brad, Elle, and the entire JLL team,” said Scott Morrison, Founder and CIO of Wealhouse Capital.

Scott Morrison

“The proceeds from the refinancing will allow us to continue to invest in new and existing properties in our portfolio and the communities our tenants live in,” said Emily Newman, Executive Vice President of Wealhouse.

 Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

Emily Newman

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 and sales 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.

 CONTACT: 

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

JLL Capital Markets advises on the $400 million sale and financing of the 1.2 million SF Ridge Hill mixed-use center in Yonkers, NY

 Claudia Steeb 
  

NEW YORK, NY JLL Capital advised on the sale of and arranged acquisition financing for Ridge Hill, a 1.2 million-square-foot mixed-use lifestyle center with retail and office space in the New York City-area community of Yonkers, New York.

 JLL marketed the property on behalf of the seller, QIC US Management, Incorporated.

Joy Dracos.

A joint venture between Nuveen Real Estate, Taconic Partners and North American Properties acquired the asset for $220 million.

Additionally, working on behalf of the new owner, JLL secured a $181.3 million non-recourse acquisition loan from Heitman Capital Management LLC.

Dave Monahan
The partnership plans to transform Ridge Hill into a preeminent outdoor lifestyle center that will capitalize on the property’s existing experiential features combined with national luxury and fitness retailers and top-tier food and beverage options.

Ridge Hill is currently 71.7 percent occupied and home to a mix of first-class retail and office tenants.

They include Whole Foods, Lowe’s, Dick’s Sporting Goods, T.J.Maxx, H&M, LA Fitness, LL Bean, Showcase Cinemas, Legoland Discovery Center, Guitar Center, the Container Store and Westmed Medical Group.

Cameron Pittman
The property, which opened in 2011, welcomes 7.1 million annual visitors and is in the top 1% of the most trafficked centers in the U.S. and New York.

 Positioned on 74 acres at One Ridge Hill Blvd., the center is in Yonkers, which is in Westchester County and one of the wealthiest locations in the country.

Ridge Hill is 20 minutes north of New York City and immediately adjacent to the Sprain Brook Parkway.

This irreplaceable location is in a top-tier trade area that includes 681,744 residents within a 15-minute drive who earn an average annual household income of $109,333.

Chris Angelone


The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Dave Monahan, Senior Director Cameron Pittman, Senior Managing Director and Co-Head of U.S. Retail Capital Markets Chris Angelone and Senior Managing Directors Jose Cruz and Andrew Scandalios.

 “Ridge Hill is one of the more compelling investment opportunities that I have transacted on in my career,” Monahan said.

“Driven by the exceptional trade area characteristics, highly desirable existing tenancy and multiple value creation opportunities, this asset received a tremendous amount of interest from a broad range of investors.

Jose Cruz

"The collective experience and operational expertise of the buyer group of Nuveen, Taconic and North American Properties creates an ownership that is uniquely qualified to enable Ridge Hill to achieve its highest potential.”

 The JLL Capital Markets Debt Advisory team that represented the borrower included Senior Managing Directors Kellogg Gaines, Aaron Niedermayer and Evan Pariser, Managing Director Claudia Steeb and Analyst Joy Dracos.

 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.

Andrew Scandalios


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.

About Nuveen Real Estate

Nuveen Real Estate is one of the largest investment managers in the world with $152 billion of assets under management.

Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing.

Kellogg Gaines
With over 85 years of real estate investing experience and more than 725 employees* located across 30 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.

*Includes 345 real estate investment professionals, supported by a further 385 Nuveen employees.

Source: Nuveen, 31 Dec 2021.

 About Taconic Partners

Since 1997, Taconic Partners has acquired, redeveloped and repositioned over 13 million square feet of commercial office and mixed-use space, as well as over 6,500 units of luxury and workforce housing.

Aaron Niedermayer
As a fully integrated real estate company with a keen eye for uncovering value, its diverse capabilities are evidenced by its multifaceted success with luxury properties, as well as adaptive reuse and urban revitalization projects.

 In New York City, Taconic is currently developing 619 West 54th Street—the Hudson Research Center, 125 West End Avenue, 817 Broadway, 312 West 43rd Street and Essex Crossing on the Lower East Side.

 The firm also manages various real estate funds on behalf of institutional and pension fund investors 

 About North American Properties

Founded in 1954, North American Properties is a privately held, multi-regional real estate operating and development company that has acquired, developed and managed more than $7 billion of mixed-use, retail, multifamily and office properties across the United States.

Evan Pariser
Rooted in its purpose-driven approach to development, North American Properties is creating great places that connect people to each other; cities to their souls; partners to opportunities; and individuals to experiences that move them.

Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, Florida, the company has developed 22 million square feet of commercial space and 19,000 residential units in 15 states and 67 cities.

In the past three years, North American Properties has launched 36 projects totaling $2.2 billion in total capitalization. In metro Atlanta, North American Properties led the turnaround of Atlantic Station and the ground up development of Avalon.

CONTACT: 

 

Kimberly Steele

PR, Capital Markets,

Agency Leasing

and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

 

nuveen.com/realestate.  

TaconicPartners.com.

naproperties.com.

jll.com.