JLL Capital Markets closes $41 million sale and secures the $30 million acquisition financing for the 272-unit Stonewood Village in Madison, WI

Amanda Friant

 

 CHICAGO, IL – JLL Capital Markets has closed the $40.8 million sale and arranged the $29.81 million acquisition financing for Stonewood Village, a 272-home, value-add, garden-style multi-housing community in Madison, Wisconsin.

Stonewood Village, a 272-home, value-add
garden-style multi-housing community
 in Madison, WI

 JLL represented the seller, Stonewood UI, LLC, an affiliate of Banner Real Estate Group. Axiom Properties acquired the asset.

Medina Spiodic

Working on behalf of the new owner, JLL secured the 10-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.

 The JLL Capital Markets Investment Advisory team was led by Senior Director Wick Kirby, Director Amanda Friant and Senior Managing Director Jamie Fink. The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Matthew Schoenfeldt and Associate Medina Spiodic.

Wick Kirby

 Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

Stonewood Village features one- and two-bedroom units with an average size of 1,004 square feet.

 The units currently feature spacious floorplans, in-demand private entries, patios or balconies,washers and dryers and dishwashers in every unit.

 Community amenities include a playground, tennis courts, a leasing office, a maintenance garage and a pool.

The property has opportunity for both a programmatic interior renovation plan and an enhancement to the existing community amenity package.

Jamie Fink

Situated at 302 Parkwood Ln. and adjacent to the Hiestand Park, Stonewood Village is ideally located less than a 15-minute drive to Downtown Madison and easily accessible to Interstates 90 and 94, Highways 30 and 51, the Dane County Regional Airport and abundant retail.

The property has access to top tier employment, including UW Health, State Capitol building, American Family Insurance, WPS Health Insurance, MATC and East Madison Hospital.

 The community is also proximate to the world-class University of Wisconsin, which boasts 45,000 students and Big Ten Division I athletics.

 “This was a fantastic opportunity to work with two very important clients on a deal in an excellent location,” Kirby said.

Matthew Schoenfeldt 

“Madison as a market has experienced extraordinary rent growth, which was reflected in Stonewood’s operations. 

"The property is well-positioned for future renovation upside.”

 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.

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

 

CONTACT:

 

Jenna Sharp, JLL Associate, Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

Copper State Bolt & Nut Grows 50-Year Presence to serve Phoenix West Valley Boom

 Sarah Shannon

 

 GOODYEAR, AZ – Phoenix-based, family-owned-and-operated Copper State Bolt & Nut Co. is expanding its 50-year Valley presence with a new Class A distribution center in the award-winning PV 303 industrial park in Goodyear, Arizona.

 

Being built by leading local general contractor Stevens-Leinweber Construction (SLC), the project was prompted by the growth of Phoenix’s far West Valley, where Copper State customers are actively involved in a growing list of projects and will benefit from a more immediate access point for Copper State products.

“Like Copper State, our company has a multi-decade tenure built on strong customer- and employee-centered core values,” said Stevens-Leinweber Construction Vice President Erik Powell.

Erik Powell

“We are proud to have been chosen by Copper State for this project and to be a part of their growth in Arizona and the region.”

 

The architect for the new Copper State building is Winton Architects. The project is under construction now, with delivery expected in January 2023.

 

Founded in Phoenix in 1972 with six employees, Copper State today employs almost 500 and supports more than 20,000 customers across the West and Southwest.

 

It provides traditional fasteners, construction products, industrial supplies and specialty products to a wide range of construction- and manufacturing-related industries.

 

“We have spent 50 years evolving to support our fast-paced, service-oriented industry, and our latest expansion is no exception,” said Copper State CEO Sarah Shannon.

 

“This new facility expands our reach farther into Phoenix’s West Valley than we have been before, where so many of our customers are building and operating in response to a nearly unprecedented commercial and residential boom.

 

"With our location at PV 303, we will be right where they need us to be.”

 

Copper State operates more than 30 facilities in Arizona, California, Colorado, Montana, Nevada, New Mexico, Texas, Utah and Washington. Ten of those are in Arizona, including the company’s manufacturing and assembly headquarters.

 

The new Copper State warehouse and distribution building will total 39,491 square feet on 5 acres at the southwest corner of the Loop 303 and Camelback Road.

 

 

 

CONTACT:

 

Stacey Hershauer

stacey@focusaz.com

480.600.0195