Sunday, September 25, 2022

JLL Capital Markets secures acquisition financing for the 180-unit Walnut Tower apartments in downtown Kansas City, MO

 

Walnut Tower, a 180-unit, high-rise
multi-housing community located
at 722 Walnut Street in downtown
 Kansas City, MO

 DENVER, CO– JLL Capital Markets has arranged term acquisition financing for Walnut Tower, a 180-unit, high-rise multi-housing community located in downtown Kansas City, Missouri.

 JLL represented the borrower, a joint venture between Peakview Investments and Infinite Waters, to secure the seven-year, interest-only, fixed-rate loan through Freddie Mac Multifamily.

 The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

 Built in 1963 and fully renovated in 2012, Walnut Tower features studio, one- and two-bedroom floorplans.

William Haass

Community amenities include a clubhouse, a roof terrace with cityscape views, fitness center, lounge, package service and controlled access, among others.

 The property presents an opportunity for significant potential, as Walnut Tower is a Class B asset in an A+ location.

 The joint venture has programmed a comprehensive business plan to further position Walnut Tower as the premier attainable housing community in downtown Kansas City.

The business plan includes renovations to unit interiors and common area activation, along with a change of management.

 “We are ecstatic to launch our joint venture with Walnut Tower,” said Josh Simon, Principal of Infinite Waters. “The asset and its position in the market really resonated with our acquisition criteria and investors.

 "We are eager to start executing our business plan and enhancing our resident’s home experience.”

 “JLL provided us great financing options in a very turbulent time,” said Jonathan Polster, Founder & Principal of Peakview Investments.

Jonathan Polster


“JLL helped us navigate these choppy capital markets by laying out all our financing options to ensure we were in position to make calculated investment and financing decisions that aligned with our business plan on Walnut Tower.

"We had a tremendous experience with the JLL Capital Markets team lead by William Haass.”

 Situated at 722 Walnut St., Walnut Tower is ideally located in the high-growth and revitalized Downtown Kansas City submarket.

 The Property is central to many of Kansas City’s largest employment centers, notable retailers and a vast array of entertainment amenities.

 Walnut Tower is walkable to the burgeoning Kansas City River Market, offering waterfront shopping and distinctive gourmet dining options, along with the Power and Light District, which is one of Kansas City’s top entertainment districts. 

Walnut Tower is also positioned directly adjacent to the coveted KC Streetcar Line, providing residents convenient access to sought-after Downtown destinations.


Josh Simon

The JLL Capital Markets Debt Advisory team representing the borrower was led by Director William Haass.

 “Walnut Tower is a great example of how buyers can still achieve accretive financing in the current environment,” said Haass,

“The property’s natural affordability made it an exceptional candidate for agency financing, with both Fannie and Freddie offering numerous credit waivers on their initial quotes, allowing for Peakview Investments and Infinite Waters to take advantage of an accretive blend of interest-only term and proceeds.”

   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

https://grandpeaks.com/ .

https://www.brooklineig.com/ .

 

JLL Capital Markets closes sale for the 281-unit Sophia Square Apartments in South Dade, FL

 

Sophia Square Apartments, 13710 SW 256th Street
 South Dade County, FL

 MIAMI, FL – JLL Capital Markets closed the sale of Sophia Square Apartments, a 281-unit, Class A, garden-style apartment community located in southern Miami-Dade county. The price was not disclosed.

 JLL marketed the property on behalf of the seller, Grand Peaks Properties. Brookline Investment Group acquired the asset.

Maurice Habif
The JLL Capital Markets Investment Advisory team representing the seller was led by Managing Director Maurice Habif, Director Simon Banke and Director Ted Taylor. This JLL team has sold nearly $300M of multi-family assets for Grand Peaks this year.

 Completed in 2019, this newly built, institutional-quality asset features one-, two- and three-bedroom floorplans with an average size of 872 square feet.

Unit amenities include granite countertops in kitchen and baths, stainless-steel appliances, modern cabinetry, nine-foot ceilings, in-unit washers and dryers, vinyl plank flooring and private balconies or patios.

Simon Banke


Community amenities include gated entrance, a fitness center, a resort-inspired swimming pool, a multi-purpose clubroom, a children’s play area and a dog park.

 Located at 13710 SW 256th Street, Sophia Square, benefits from its immediate accessibility to US-1 and Florida’s Turnpike, placing it less than 30 minutes from Kendall, Doral, Dadeland and Coral Gables.

It is also within walking distance to the soon-to-be-built Bus Express Rapid Transit corridor that will operate on US-1.

Ted Taylor.

The property is proximate to an array of area amenities, including Homestead Bayfront Park, Homestead Speedway and The Falls mall, as well as top-rated schools, major employers and health facilities.

 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.

 CONTACT:

Jenna Sharp

 JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

https://grandpeaks.com/ .

https://www.brooklineig.com/ .

 

Berkadia Arranges Sale of New Class AA Garden-Style Apartment Community in Orlando, FL

The Baldwin, 800 Lombard Street, Orlando, FL

 ORLANDO, FL Berkadia announces it has arranged the sale of The Baldwin, a brand new, 270-unit Class AA garden-style apartment community in Orlando, Florida. The price was not disclosed.

Managing Director Brett Moss, Associate Director Tyler Swidler, Senior Managing Director Matt Mitchell, and Senior Financial Analyst Bennett Hopkins of Berkadia’s Orlando and Tampa offices arranged the sale of behalf of the seller, Catalyst Development Partners.

Brett Moss


Middleburg Communities, a fully integrated multifamily development, investment, construction, and management company operating in the southeastern and mid-Atlantic United States, acquired the property.

 “The Baldwin is well-poised to continue capturing the robust demand it experienced throughout lease-up due to its infill location, proximity to the prestigious Baldwin Park master-planned community, as well as its access to lauded Winter Park public schools. 

Orlando continues to benefit from outsized capital markets demand due to favorable population and employment growth metrics, underscoring strong multifamily fundamentals for the MSA into the foreseeable future,” said Moss.

Tyler Swidler

Located at 800 Lombard Street and completed in 2022, The Baldwin offers one-, two- and three-bedroom apartment units that average from 756 square feet to 1,248 square feet.

 Individual units feature gourmet kitchens with granite counters, stainless steel and energy-efficient appliances, French door refrigerators, wood-plank inspired flooring, walk-in closets, full-sized washer and dryers, expansive pantries and storage closets, smart home features and spacious balconies or patio space.

 The controlled-access community’s amenities include a resort-style swimming pool with semi-private cabanas, a pool pavilion with outdoor gaming, a 24-hour fitness club, summer kitchen, clubroom with billiards, a business center, coworking spaces with complimentary coffee, a bark park, an auto care station and electric vehicle charging stations.

 Matt Mitchell
The Baldwin is located approximately 15 minutes east of downtown Orlando and 15 minutes west of the University of Central Florida, adjacent to the affluent award-winning Baldwin Park master planned community.

The property is close to several award-winning public schools, the Central Florida Research Park, Lake Nona Innovation Hub, and within 25 minutes of more than 4,600 hospital beds, Universal Studios, Walt Disney World, and the Orlando International Airport.

 

 © 2022 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC. 


 

Bennett Hopkins

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. 

 Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. 

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 

In California,  Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc.  under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050.  

Rob Meyer




Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. 

 For state licensing details for the above entities,please visit: http://www.berkadia.com/legal/licensing.aspx 

 

About Catalyst Development Partners

 

Catalyst Development Partners is an Atlanta-based firm with offices in Florida, focused on Market-Rate Multifamily Real Estate Development with a footprint across multiple states throughout the Southeast.


 The firm’s principals – Rob Meyer, Jorge Sardinas and Mark Mechlowitz – have a combined 75+ year track record in the business.

Jorge Sardinas
 CONTACTS:

Melinda Sherwood

Kreps PR, on behalf of Berkadia Commercial Mortgage LLC
305.849.0467

msherwood@krepspr.com

  

Marian Moreno

Account Executive 

Kreps PR & Marketing   

C. 786.286.5578 

 www.catalystdp.com.

www.berkadia.com.