Investor acquires 19-acre site in Los Angeles area for $30 million; will develop a luxury senior housing community

Bryan Lewitt

  LOS ANGELES, CA, Jan. 24, 2024 – JLL announced California Commercial Investment Group has acquired a 19-acre site adjacent to the iconic Motion Picture & Television Fund campus in Woodland Hills, California for $30 million. 

California Commercial Investment Group will develop a luxury senior living life cycle community encompassing approximately 300 units on the site.  Construction is scheduled to begin 2026 with completion planned for 2028.

 The new luxury senior living community will feature beautiful and spacious apartment homes, penthouses, and villas, ranging from one to three bedrooms with multiple configurations, and underground parking. 

Michael Slater

It will also include a resort style pool and spa, gourmet restaurants, athletic courts, outdoor games, movie theatre, wine bar and roof top lounge, longevity fitness center, learning center, and nature trails.

 “This is a great opportunity for a premier developer in California Commercial Investment Group to acquire and develop a much-needed luxury senior living community in a pristine location,” said Bryan Lewitt, JLL Managing Director.

The 19-acre site is ideally located on Mulholland Drive in the Santa Monica Foothills.  It is just steps from the Calabasas farmers' market adjacent to the Motion Picture & Television Fund campus.

 JLL’s Bryan Lewitt represented the seller, Motion Picture & Television Fund. The buyer was represented by Michael Slater of CBRE.

 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.”

 

URS Secures Wood Partners nearly a Half Million Dollar Refund from City of Longwood, FL; Numerous Requests About High Water Bills and Overpayments Went Unanswered

 

 Tim Bonenberger

Dublin, OH  -- Utility Revenue Services (URS) , a national leader in seamless utility management for developers, real estate owners and management companies has  secured Wood Partners a refund of $436,802 for overpayment of water and sewer services for its Alta Longwood Property. 

 URS determined that improper meter reading by the water district and incorrect application of rates caused the mix up.

According to Wood Partners VP and property controller, Tim Bonenberger, there had been a situation of high water costs at its Alta Longwood property for many months.  Inquiries made to the City of Longwood were unanswered, so Wood Partners turned to their utility billing vendor for an investigation.

The billing company determined the master water meter was the problem and persuaded the city to change it, yet the problem persisted.

Upon request by Wood Partners’ management, URS examined the situation.  URS found from  past utility bills there were serious issues: consumption was out of line for the number of apartments and the rate application was incorrect.

URS reviewed two years of water/sewer invoices for progression of usage and determined the meters were not faulty, they were being read incorrectly by the water district.

URS recalculated the charges based on the correct rates to determine the overpayment was $436,802.01.  Upon receipt of the documentation the City of Longwood refunded the full amount.

“When neither our utility billing vendor nor our staff could get to the bottom of the problem with the water district, we turned to URS. 

 In a matter of weeks, URS identified the problem and  secured a refund of nearly a half million dollars for the community,” said Bonenberger.   

“URS is a trusted partner that goes above and beyond to service our properties.  We are grateful for their work and dedication to Wood Partners.”

 

About URS

Since 2007, URS has been a national leader in providing seamless utility management services to real estate owners, developers, and management companies. By optimizing the intersection of development, construction, and utilities, URS maximizes net operating income and streamlines all utility operations.

URS' services include utility auditing, developer assistance, sustainability services, expert guidance in gas and electric procurement, and dry utility consulting.

 

 

 

Contact:

 

 Amy Gorin Grossman

Grossman Public Relations

amygrossmanpr@gmail.com215-805-0299 

 

 

JLL Capital Markets brokers sale of the 103-unit / 297-bed Oso Verde Student housing community at Baylor University in Waco, TX

 

 Teddy Leatherman

 DALLAS,TX, Jan. 24, 2024 – JLL Capital Markets has closed the sale of Oso Verde, a 103-unit / 297-bed student housing community located near Baylor University in Waco, Texas.

 

JLL worked on behalf of the seller, Bullseye Development, and Versity Invest, LLC, who acquired the asset.

Oso Verde, a 103-unit / 297-bed student housing community located near Baylor University in Waco, TX

Oso Verde features one-, two-, four- and five-bedroom, fully furnished units with 10-foot ceilings, vinyl plank wood flooring, walk-in closets, HD flat screen televisions, granite countertops, stainless steel appliances, luxe finishes, washers and dryers, private bathrooms for all bedrooms and patios and balconies.

 

 Community amenities include a shuttle bus service, a resort style pool with a lounge deck, a fitness center, volleyball and basketball courts and putt putt golf. 

Scott Clifton

Situated at 2501 S University Parks Dr., the property is less than one mile from campus, just off Brazos River, and is a five-minute drive to McLane Stadium.

 

Students benefit from proximity to downtown Waco and the Waco Riverwalk, offering shopping, dining, and nightlife. Additionally, the community offers easy access to I-35.

 

The JLL Capital Markets Advisory Team was led by Managing Directors Teddy Leatherman and Scott Clifton, as well as Director Kevin Kazlow.

Kevin Kazlow

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, Public Relations

 Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com