BOLOUR provides over $20 million in debt for three-site Southern California portfolio

 Mark Bolour

  

Los Angeles, CA — Bolour Associates Inc. (BOLOUR) has provided over $20 million in debt financing for the redevelopment of three Southern California retail projects. Upon redevelopment, the sites will deliver 375 new apartment units by North Carolina-based Grubb Properties.

 

BOLOUR is a privately owned real estate finance, development and investment company based in Beverly Hills, California. Grubb Properties, with approximately $2.5 billion in multifamily, office and retail real estate assets under management, has been developing and operating moderate-priced rental housing since 1963.

 

The three-deal transaction includes:

 700 Santa Monica Blvd

700 Santa Monica Blvd., a 10,500-square-foot retail property slated for redevelopment into 99 apartment units located minutes from the Santa Monica State Beach and Pier.

·       1200 Vine St., a 27,000-square-foot retail property in the heart of Hollywood that will be redeveloped into 151 apartment units.

·        5240 Lankershim Blvd., a 30,900-square-foot land parcel in North Hollywood with plans for redevelopment into 128 apartment units.

 “BOLOUR was able to draw on the expertise of our in-house development and investment teams to carefully evaluate Grubb Properties’ strategies for these sites, including both maintaining the current retail properties on an interim basis and later redeveloping them as multifamily housing,” said BOLOUR CEO Mark Bolour.

     5240 Lankershim Boulevard

“The debt solution we structured provides flexibility to support Grubb’s business plan that will bring hundreds of much-needed new apartments to the supply constrained Los Angeles market.”

 

 

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.”

 

BolourAssociates.com.

 

 

 

 

Philippe Op de Beeck to step down as APCOA CEO; Bert Pijls to be appointed as interim Executive Chair

Philippe Op de Beeck

Stuttgart, Germany – APCOA, the leading parking operator in Europe, announced that Philippe Op de Beeck will be stepping down as CEO, effective July 1, 2024 and that Bert Pijls will assume the role of Executive Chair until a new CEO is appointed.

 

As CEO, Philippe Op de Beeck has led APCOA’s growth of over 40% over the last 8 years and helped the company to achieve multiple strategic milestones, including several acquisitions, the roll out of Urban Hubs, the implementation of an EV charging strategy and the adoption of parking and mobility technologies across the business.

 

 Op de Beeck will continue to support the company as Senior Advisor to the APCOA Board.

 Bert Pijls

 Speaking on behalf of APCOA, Bert Pijls, the Chairman, said: “I would like to thank Philippe for his years of service and contributions to APCOA. Phillipe is leaving behind a strong and market leading business, and I am delighted that Philippe will remain engaged with the company in a new role as Senior Advisor to the Board of APCOA.

 

"I will work closely with Phillipe during this period of transition, and I am very excited about APCOA and its opportunities for continued growth. 

 

Philippe Op de Beeck, said: “I would like to take this opportunity to thank the entire team at APCOA, whose unrelenting hard work and dedication have been the foundation of our success.

"This is an exceptionally talented group that feels like a family, and with an experienced leader like Bert at the helm, I strongly believe that the business will continue to successfully execute its growth plan”.

John Brantl

John Brantl, Co-Head of the European Investment Team at Strategic Value Partners, said: “On behalf of SVP and our partners, we would like to thank Philippe for his leadership and contributions to APCOA. He has been responsible for overseeing the consolidation of APCOA’s leading position across the European market.

 

"Phillipe leaves the business in a strong position to scale further under the leadership of Bert and the talented APCOA management team. We look forward to continuing to work with Bert and Philippe to support APCOA in its growth journey. Our recent investment reflects our confidence in the future development of the business, and we look forward to working with Bert towards APCOA’s continued success.”

 

 

 CONTACT:

 

 

APCOA
Sebastian Merkle

Tel.: +49 711-94791-652

sebastian.merkle@apcoa.eu

 

 

 

 

JLL Capital Markets closes sale of the 112,162-square-foot Muse Shops at Midtown in Dallas, TX

 

Erin Lazarus

.

 

DALLAS, TX – JLL Capital Markets has closed the sale of Muse Shops at Midtown, a 112,162-square-foot, recently redeveloped, value-add retail center located in Dallas, Texas.

 

JLL represented the seller in the transaction.

 

The JLL Retail Capital Markets Investment Sales Advisory was led by Senior Managing Director Adam Howells, Director Erin Lazarus, Associate Megan Babovec and Analyst Keenan Ryan.

Megan Babovec

Built in 1999 and renovated in 2022, the 58-percent-leased, four-building Muse Shops at Midtown features a WALT 8.7 years and is leased to a wide variety of tenants, including Starbucks, Land Design, United Real Estate and Natuzzi Editions.

 

 The property offers the accretive opportunity to add value through the additional lease-up of over 14,000 square feet of retail space. In addition, the center has demonstrated positive leasing momentum with over 70,000 square feet of new leases signed in the last 12 months.

 Keenan Ryan

 Located at 5203-5233 Alpha Road, Muse Shops at Midtown sits within a thriving, urban mixed-use environment in North Dallas. The center is adjacent to both a recently delivered, 289-unit multi-housing property, as well as the Galleria Dallas Mall, a 1.5-million-square-foot regional shopping mall that attracts over 7.4 million visits annually.

 

The property is ideally situated at the confluence of the Dallas North Tollway and I-635, which sees over 540,000 vehicles per day and serves as DFW’s busiest intersection.

Adam Howells

This strategic location provides visitors direct access to the most affluent Dallas neighborhoods, including Preston Hollow, Prestonwood, Preston Trail, Willow Bend and Bent Tree, and offers seamless connectivity to the greater DFW metroplex.

 

In addition, within a five-mile radius of the center is a daytime population of 533,924 and a consumer spending power of $20.2 billion.

 

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

Muse Shops at Midtown, a 112,162-square-foot,
 recently redeveloped, value-add retail center
 located in Dallas, TX

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, Public Relations,

Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

PEBB Enterprises Closes $5.57 Million Sale of 22,000-Square-Foot Section of Westview Plaza in Tennessee

Westview Plaza, Lebanon, TN

 Lebanon, TN and Nashville, TN –– PEBB Enterprises, a South Florida-based full-service private real estate investment company, completed the $5.57 million sale of a 22,000-square-foot section of Westview Plaza in Lebanon, Tennessee.

 The shadow retail section includes leases with China Wok, Mysa Nails & Spa, T-Mobile and Petco.

 Ian Weiner 

The transaction closed on April 23. Berkeley Capital Advisors represented the seller, a joint venture between PEBB Enterprises and The Sembler Company, and Compass Real Estate represented the buyers, Westview Investment, LLC and AMB Investment, LLC.

“Our team is excited to have executed the successful disposition of this portion of the property at a great time,” PEBB Enterprises President and CEO Ian Weiner said. “We are always looking for new opportunities to add to our national portfolio, where we can bring value to communities through our leasing efforts.”

Located east of Nashville at 1418 West Main Street,
 approximately 30 minutes outside of Nashville,
Westview Plaza sits on 18 acres 

Located east of Nashville at 1418 W. Main Street, approximately 30 minutes outside of Nashville, Westview Plaza sits on 18 acres and includes additional leases with Subway, GNC, Great Clips, Bank of America and anchor tenant, Kroger, which completed a 40,000-square-foot expansion in 2022.

PEBB Enterprises previously owned a separate section of the plaza and sold it to Kroger for its expansion.

In 2022, PEBB Enterprises sold Germantown Village Square in Memphis, Tennessee for $35.52 million. The successful disposition of Westview Plaza represents PEBB’s exit from the Tennessee market.

 CONTACT:

 

 Daniel Benjamin

Account Director

dbenjamin@boardroompr.com

C 954-618-8287

O 954-370-8999

Web | Facebook | Instagram | LinkedIn | Twitter 

 

https://pebbenterprises.com/.  

sembler.com.