Pair of Orlando, FL office properties receive $33 million financing

 

Jen Pollock

ORLANDO, FL – JLL Capital Markets has arranged $32.7 million in financing for two Downtown Orlando office properties: the GAI Building, a trophy office property totaling 106,966 square feet and 100 E. Pine St., an 80,010-square-foot office building.

GAI Building, 106,966 SF, Downtown Orlando, FL

JLL worked on behalf of the borrower, Denholtz Properties, to secure the five-year financing through Ameris Bank.

 Loan proceeds were used to acquire the GAI Building and recapitalize 100 E. Pine St. JLL was also involved in the sale of the GAI Building to Denholtz.

 100 East Pine Street Office Building,
80,010 SF, Downtown Orlando, FL

Completed in 2011, the GAI Building is one of Orlando’s newest office properties and was downtown’s first privately developed LEED-certified office building.

The GAI Building is fully leased to six tenants, including GAI Consultants who operates its southeastern headquarters at the property.

 Michael Klein

 The property is located at 618 East South St., adjacent to and visible from SR 408 East-West Expressway, one of Orlando’s primary roadways.

100 E. Pine St. is a six-story property that was extensively renovated in 2018/2019. 

The 90-percent-leased asset has a diverse tenant roster and offers tenants a recently renovated lobby and ground floor retail space. 

100 E. Pine St. is located at the intersection of East Pine St. and South Magnolia Ave. convenient to major transportation nodes, including Interstate 4 and SR 408.

 Both properties benefit from the growing Downtown Orlando office market, which has seen rents and demand steadily increase. 

Jon Mikula

In addition, Downtown Orlando has evolved into a true live-work-play environment with a population increase of more than 70% since 2000.

 JLL’s Debt Advisory team representing the borrower was led by Senior Managing Directors Michael Klein and Jon Mikula, Senior Director Maxx Carney and Associate Ryan Carroll.

 The Ameris Bank team was led by Senior Vice President Jen Pollock, CCIM.

 “The competitiveness of this financing process was emblematic of lenders continued demand to finance well-located, high-quality office assets for experienced, hands-on operators like Denholtz Properties,” stated Carney. 

 Maxx Carney

“The leasing velocity at the properties showcased continued tenant demand to occupy this same profile of product throughout the state of Florida.”

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. 

Ryan Carroll

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.

 

 

Contact:

Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 jll.com

 denholtz.com.

 

 

 

JLL closes sale of Arlington multi-housing community adjacent to Amazon HQ2

 

1221 and 1331 S. Eads Street, Arlington, VA

WASHINGTON, DC – JLL Capital Markets has closed the sale of 1221 and 1331 S. Eads St., a 534-unit, value-add multi-housing community in Arlington, Virginia.

Robert Jenkins

 JLL marketed the property on behalf of the seller, a partnership between Polinger Development Co. and State Street Global Advisors, and secured acquisition financing on behalf of the new owner.

With only 10 percent of the units renovated, the property provides a premier value-add opportunity.

The community amenities include fully revitalized lobbies and plazas in addition to an upgraded office leasing space, fitness center, coworking area and dog run.

Bret Thompson 

 The property is situated across the street from Metropolitan Park and Pen Place, the future homes to Amazon HQ2 and over 5 million square feet of Amazon office space and retail. 

The property is also a 10-minute drive from Virginia Tech’s Innovation Campus, a $1 billion development expected to graduate 10,000 students with master’s degrees in computer science over the next 20 years.

Additionally, infrastructure spending in National Landing totaling $5 billion will contribute to local conveniences such as an additional Crystal City Metro entrance, advancements to Route 1 and the creation of an airport pedestrian bridge to Reagan National Airport. 

Matthew Lawton

 The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Directors Robert Jenkins and Bret Thompson and Executive Managing Director Matthew Lawton.

The JLL Capital Markets Debt Placement team representing the borrower was led by Managing Director Kris Lowe, Senior Managing Director Jamie Leachman and Director Amit Kakar.

 JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers.

Kris Lowe

 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.

 

Contact:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

JLL Capital Markets closes sale of six-story, 110,452-SF 1717 St. James Place building in Houston’s most dynamic Galleria submarket

 

Rendering of 1717 St. James Place, Houston, TX

 

 HOUSTON, TX – JLL Capital Markets has closed the sale at an undisclosed price of 1717 St. James Place, a boutique office building totaling 110,452 square feet in Houston, Texas.

 JLL represented the seller, Accesso Partners, LLC, and procured the buyer, Silver Creek Realty Advisors.

 1717 St. James Place is positioned on 2.34 acres within St. James Place, a deed-restricted business park on the south side of San Felipe in Houston’s Galleria submarket.

Martin (Marty) Hogan 

The property is adjacent to the affluent Tanglewood neighborhood and in close proximity to numerous tenant amenities.

 The six-story asset offers a park-like atmosphere with on-site security and management as well as a conference room, access to a newly renovated cafeteria in the adjacent property and on-site structured parking for more than 120 vehicles.

Kevin McConn

1717 St. James Place is currently 70.5% leased to a diversified tenant roster spanning the real estate, financial services, legal, technology, energy and medical industries.

 The JLL Capital Markets team representing the seller was led by Managing Directors Marty Hogan and Kevin McConn.

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

 

Contact:

Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 jll.com

 

Ware Malcomb Opens New Office in Nashville, TN

 

Jason Dooley

 NASHVILLE, TN (May 24, 2022) – Ware Malcomb, an award-winning international design firm, today announced the opening of its newest office in Nashville, Tennessee – the firm’s 26th office across the Americas.

The new space, located at 3401 Mallory Lane in Franklin, Tennessee, will support Ware Malcomb’s growing client and project base across the region.

Gregory Spon, previously Director, Architecture for Ware Malcomb’s Irvine office, relocated and will lead the Nashville office as Regional Director.

 He will oversee the growth and management of the company’s operations in the Nashville region. Spon joins the Southeast leadership team led by Principal, Jason Dooley, AIA. 

Gregory Spon

“We have proudly worked with clients in Tennessee for over eight years,” said Spon, Regional Director for Ware Malcomb. “Nashville is an extremely dynamic market, known for its innovative technology and entrepreneurism.

"Middle Tennessee, in general, has become an attractive corporate headquarters for many companies. We’re excited to support the area’s growing enterprises with our integrated design services.”

Ware Malcomb has completed over 100 projects in the area, including retail, office and industrial projects. The new Nashville office builds upon Ware Malcomb’s rapidly growing Southeast region with offices in Atlanta and Miami. 

“With this expansion, we are rising to meet the growing market demand in the Southeastern United States,” said Dooley, Principal for Ware Malcomb. “It’s an exciting time, and we’re pleased to become an official member of the Nashville community.” 

 Contacts:

Rachel Devany

VP Public Relations, KCOMM for Ware Malcomb

rachel@kcomm.com

Maria Rodgers, PR & Communications Manager, 949.660.9128, mrodgers@waremalcomb.com

 Maureen Bissonnette, Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

Atlanta Hospitality Alliance (AHA) Names Kim Bardoul President

 

Kim Bardoul 

 

 ATLANTA, GA. May 24, 2022—The Atlanta Hospitality Alliance (AHA), the premier peer-to-peer learning and networking organization for current and future hospitality investment leaders in Atlanta, - announced its 2022 Board of Directors, including naming Kim Bardoul as president. 

  The organization also announced a restructuring of its membership platform.

Jatin Desai

 “Kim’s hospitality bona fides are impeccable, and her Atlanta roots run deep, making her the ideal candidate to lead the AHA for the coming year,” said Jatin Desai, managing principal/CFO, Peachtree Hotel Group, and immediate past chair, AHA. 

  “In addition to her work with us, she is an advisory board member for Atlanta’s Hunter Hotel Investment Conference and partner at the locally based Highland Group Investment Advisors. 

 "Her annual ‘Boutique Hotel Report’ is considered unparalleled within the industry, and we could not be happier to have her lead the way through 2022 and beyond.”

Michael Yousif

            With two decades of hospitality industry experience, Bardoul also is member of the International Society of Hospitality Consultants. 

 Her experience includes feasibility study and market analysis, due diligence for acquisition, brand conversion, impact study and portfolio investment analysis.

 In addition, Kim specializes in boutique hotel investment which includes franchised and independent ventures, from small downtowns to tourist markets across North America. 

  Bardoul is a sought-after speaker and regularly publishes articles in a variety of industry publications.

           AHA also named the following Board Members:

 Michael Yousif, vice president, acquisitions and business development, Davidson Hospitality

 Emily Feeney, director, capital markets & investments, Noble Investment Group

Catherine Morgen, partner, Morris, Manning and Martin

 

 Emily Feeney

The AHA also announced that it is replacing its existing membership model with an event-registration model designed to simplify registrations and event management moving forward. 

Catherine Morgen

The change will give guests the opportunity to directly register for individual events which will create flexibility in engagement and improve event-day logistics for a simplified experience.

 

Contact:

Chris Daly

 (703) 435-6293

 chris@dalygray.com