JLL Capital Markets closes $245 million portfolio refinancing for six California properties located in Napa Valley, Laguna Beach, Del Mar, Newport Beach and San Diego

Debi Kroger

 IRVINE, CA – JLL Capital has closed a $245 million portfolio financing for an iconic Napa Valley hotel property; three, Class A coastal Orange County retail centers; one, Class A multi-housing community located in San Diego’s Little Italy submarket; and a single-tenant showroom and restaurant space in downtown Yountville.

 

JLL marketed the portfolio on behalf of the borrower and secured permanent financing from four lenders. Boardwalk Investments Group is led by Owner Gary Jabara and Senior Vice President Debi Kroger.

Gary Jabara 

“Boardwalk was able to rate lock attractive, fixed-rate financing earlier this year, and we were pleased with the competitiveness of the real estate debt markets and smooth execution by our lending partners despite the volatile rate environment," said Kroger.

 John Chun

"After a record period of acquisitions in 2021 and 2022, we will continue to look at additional core investment opportunities in the next 24 months.”

 

The properties include:

 

·       The Estate, a 22-acre hospitality and destination retail complex in downtown Yountville, CA with 193 luxury guestrooms across Hotel Villagio, Vintage House, and the five-bedroom Villa at The Estate

 

·         Aliso Creek Shopping Center, a 49,149-square-foot, 92-percent-leased, trophy retail center located within Laguna Beach and anchored by CVS

 ·         Flower Hill Promenade, a 168,249-square-foot, 95.6-percent-leased, neighborhood retail center that is anchored by Whole Foods and located in Del Mar

 ·         The Landing, a 44,289-square-foot, 100-percent-leased, Pavilions-anchored shopping center located on the Balboa Peninsula in Newport Beach

 ·         1810 State Street, a 99-unit, Class A, highly amenitized, mid-rise apartment complex in Downtown San Diego’s premier neighborhood of Little Italy

 ·         Restoration Hardware Yountville, a single-tenant, Class A showroom, wine vault and restaurant space in downtown Yountville

 

John Marshall

The JLL Retail Capital Markets Debt Advisory team was led by Managing Director John Chun, Senior Director John Marshall and Analysts Jordan Leake and Spencer Seibring.

 

“The deep lender pool in dislocated market conditions highlighted the irreplaceability of Boardwalk’s portfolio, and Boardwalk’s exceptional vertically integrated asset management platform.

 

"We’re excited to see Boardwalk continue to deepen its presence in California’s most coveted submarkets,” said JLL.

 

Jordan Leake

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 advisory, debt placement, equity placement or a recapitalization.

 

The firm has more than 3,700 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, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

RDC Promotes Sean Slater, Principal-in-Charge of the RDC San Diego, CA office, to Senior Principal

 Sean Slater

 SAN DIEGO, CA – Full-service design firm RDC, has promoted Sean Slater, AIA, to the position of senior principal, announced Mitra Esfandiari, AIA, partner with RDC.

  Slater is the principal-in-charge of RDC’s San Diego office, having established that office in 2019, immersing in the community where RDC has been creating architecture, interiors, and planning projects for more than 15 years.

 

 He is a member of the Board of Directors of RDC-S111, Inc., the parent company of RDC.  

  

“Sean collaborates as a placemaking and mixed-use leader, exemplifying RDC’s firmwide values of great work and cultivating growth while doing the right thing,” said Esfandiari.

 

“Sean led the opening and expansion of RDC’s Hillcrest Design Center office, and he has been instrumental in expanding RDC’s national placemaking and mixed-use practice with new projects in Texas and Florida.”  

  

Mitra Esfandiari

Slater is a registered architect in numerous states and has over 25 years of practicing architecture in Los Angeles, Berkeley, Atlanta, and Austin.

 

 He has been a leader at nationally recognized firms including ELS Architecture and Urban Design, tvsdesign, and has spent five years directing his own firm. Previously, he served on the board of the Downtown Berkeley Association. 

 

 He is a graduate of the University of Texas at Austin, with a Bachelor of Architecture degree (BArch). Slater is also a member of the Board of Directors of the San Diego LGTB Community Center.  

 

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

www.rdcollaborative.com

 

Ketan Patel joins JLL Hotels & Hospitality Group in DC office; Phil White Checks In to New York office

 

Ketan Patel 

 

 WASHINGTON, DC – JLL Hotels & Hospitality Group announced Ketan Patel has joined the firm as a Managing Director in the firm’s Washington, D.C. office.

 

Patel will focus on growing JLL’s select service investment sales business, as well as enhancing the firm’s hospitality presence in the Mid-Atlantic region. He reports to Kevin Davis, Americas CEO.

Kevin Davis

“I am tremendously excited to welcome Ketan to our growing team," said Davis.

 

 "He is well-known among our clients as a relentlessly focused, tireless professional who delivers outstanding results. I look forward to working with Ketan to expand our presence in the select service space.”

Phil White

In addition, Phil White will be joining JLL’s New York office as a Vice President working under Patel. White started his career working in hotel operations before spending four years as an investment banking analyst where he began assisting the brokerage services division.

 

White earned a bachelor’s degree in hospitality business with a minor in real estate investment management from Michigan State University.

Andrew Weir 

JLL Capital Markets Washington, D.C. Office Heads Andrew Weir and Jamie Leachman added, “Ketan’s presence in our market will significantly strengthen our ability to service local and regional hospitality clients, which is important given the sizable hotel owner and brand community in the greater D.C. region.” 

 

Jamie Leachman 

Patel joins JLL with over 20 years of experience in the hospitality industry, 17 of which have been at brokerage firms where he has completed more than 250 transactions across the U.S.

 

He has experience completing single asset and portfolio transactions consisting of both full and select service hotels.

 

Patel graduated from the University of Maryland with a bachelor’s degree in finance.

  

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide.

The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

 

Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 

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

 

 

CONTACT:

 

Cierra Lacasse

PR, Hotels & Hospitality,

 Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

 

Ware Malcomb announces construction completed on Canada's first multi-storey distribution center in Burnaby, British Columbia

Oxford Properties Group's distribution centre, a multi-storey industrial facility located at 8351 Fraser Reach Court, in Burnaby, British Columbia, Canada. Photography credit: Luke Potter Photography

 

VAUGHAN, Ontario, Canada -- Ware Malcomb has announced that construction is complete on Oxford Properties Group's distribution centre, a multi-storey industrial facility located at 8351 Fraser Reach Court, in Burnaby, British Columbia.

 The project, the latest addition to Riverbend Business Park, is Canada's first major multi-storey industrial project. Ware Malcomb served as the Architect of Record for the project.

With proximity to urban areas of Greater Vancouver, the multi-storey distribution centre provides infrastructure for last-mile delivery in a world where consumers have come to expect next-day and same-day delivery.

 Located near the intersection of Marine Way and Highway 91A in Burnaby, it is ideally situated for attracting labor and serving Vancouver citizens

 

Frank Di Roma

"The Greater Vancouver Area is one of the worlds most land-constrained industrial markets, and demand for industrial space outpaces supply, thanks to the rise in e-commerce," said Frank Di Roma, Principal, Ware Malcomb.

 "We were pleased to solve considerable logistical and code-related challenges with this new building type and arrive at a design that maximizes industrial floor space. This impressive building is the first large-scale multistory distribution center concept in Canada."

The multi-storey distribution centre is located on a 23.45-acre site and has a ground floor of 437,000 square feet with 32-foot clear heights.

 

Downtown Burnaby, British Columbia, CANADA

 The second story, accessible to full-size transport trailers via a long service ramp, consists of 270,000 square feet, 28-foot clear heights and a 130-foot truck court where trucks can circulate.

 The heated exterior ramp allows for 53-foot trailers to make deliveries. Assorted mechanical rooms, a leasing office and storage space are located below the ramp.

  Loading docks are constructed of precast concrete and the office areas are made of insulated metal panels.

 CONTACTS:

 Sinan Kanatsiz

CEO, KCOMM for Ware Malcomb

sinan@kcomm.com

 Maria Rodgers, Director, PR & Communications, 949.660.9128

 mrodgers@waremalcomb.com

Maureen Bissonnette, Principal, Marketing

 949.660.9128

 mbissonnette@waremalcomb.com