JLL Capital Markets arranges sale of and the acquisition financing for the 258-unit Cosmopolitan Apartments located in the historic Lowertown neighborhood of St. Paul, MN

Cosmopolitan Apartments, eight-story, 258-unit, 
 multi-housing community located at
250 6th Street  East in the historic
Lowertown neighborhood
 of St. Paul, MN.

 

Will Tansey

 MINNEAPOLIS, MN – JLL has closed the sale of and the acquisition financing for The Cosmopolitan Apartments, an eight-story, 258-unit, distinguished multi-housing community located in the historic Lowertown neighborhood of St. Paul, Minnesota. The price was not disclosed.

 JLL worked on behalf of the seller, AEW Capital Management, and Bigos Management acquired the asset. JLL also worked on behalf of the new owner to secure the Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

 

Bigos Management was represented by Will Tansey of Felhaber Larson law firm.

Josh Talberg

Formerly the Finch, Van Slyck, and McConville Dry Goods Company building, The Cosmopolitan Apartments was originally a Neoclassical building from 1911, which was transformed into a vibrant apartment community in 1989.

 

Since then, the building has undergone $8 million in upgrades to blend its historic charm with modern living. The property features studio, one- and two-bedroom floorplans, averaging 805 square feet, and units include stainless steel appliances, 12-foot windows, 16-foot ceilings, oversized walk-in closets, in-unit laundry and quartz countertops.

Mox Gunderson

Community amenities include a fully equipped fitness center, a spin/yoga room, a high-speed internet lounge, a barbeque and picnic area, a fire pit, media room, clubhouse, courtyard, bocce court and more.

 

Situated at 250 6th St E., the property is walkable to numerous neighborhood amenities, including public transportation, the Mississippi River, XCEL Energy Center, Lowertown’s Farmer’s Market, Raspberry Island, Kellogg Mall Park, The Science Museum of Minnesota, Palace Theater and CHS Field.

 

The Cosmopolitan is also one of the few apartment buildings in all of St. Paul situated across from Mears Park.

Dan Linnell

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Josh Talberg, Mox Gunderson and Dan Linnell, Senior Director Adam Haydon and Director Devon Dvorak. Senior Managing Director Ken Dayton and Director Pat McMullen led the JLL Capital Markets Debt Advisory team.

 

"The Cosmopolitan is a highly regarded community that was well received in a competitive offering process," said Talberg. "We are honored to have played a part in the sale and debt financing for this generational asset.”

 

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

Adam Haydon

JLL’s Capital Markets group 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

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com 

Sam Ziemba joins JLL’s Seattle Capital Markets team

Sam Ziemba

 

SEATTLE, WA –  JLL Capital Markets announced Sam Ziemba has joined the team as a Senior Director in its Seattle office. Ziemba will be partnering with Mark Katz, Senior Managing Director and a leader of JLL’s national office investment sales advisory business, to focus on institutional office sales in the Seattle area.  

 

“We are incredibly excited to be the only office investment sales advisory team in Seattle that combines a national office leader with a senior professional who has spent their entire professional life in the Seattle market,” says Katz.

 

 Mark Katz

“This unique approach will provide our clients with unparelled local, national and global office insights that will benefit the leading firms that call these important Seattle and Eastside markets home.” 

 

Ziemba has been with JLL since 2019 and was previously a Senior Vice President and head of JLL’s Eastside Office Agency practice. In this role, he had a particular focus on new construction but was also involved in the acquisition and disposition of more than $200 million of commercial property for investment and development.

 

 Ziemba has spent more than 19 years focused on real estate solutions for clients in the Puget Sound area, starting his career as a broker with Colliers International. He is an active member of NAIOP and is a graduate of the University of Portland.

 Ira Virden

“Sam has an extensive background covering office agency leasing in the Puget Sound area that has afforded him valuable relationships with many of the area’s top owners and occupiers,” said Ira Virden, Senior Managing Director and co-head of JLL’s Seattle Capital Markets office.

 

For more news, videos and research resources, please visit JLL’s newsroom.

  

CONTACT:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

 

KB Home Selects Blackton To Provide Flooring for New Laurel Oaks Community in Apopka, FL

  

Michael “Micky” Blackton

APOPKA, FL and ORLANDO, FL --- Blackton, Inc., one of the region’s oldest and largest suppliers of materials to the homebuilding industry, was awarded a contract worth an estimated $700,000 to provide flooring for 121 new single-family homes KB Home will build at Laurel Oaks in Apopka. 

Located on Plymouth-Sorrento Road in northwest Apopka, Laurel Oaks will consist of new innovative KB Home floor plans ranging from 1,637 square feet to more than 3,000 square feet of living area. 

Homebuyers at the new community can select from a variety of flooring supplied by Blackton at the KB Home sales office / design studio there.  

Blackton’s work at Laurel Oaks will get underway soon on the homebuilder’s first model at Laurel Oaks expected to be open during the second quarter, according to Michael “Micky” Blackton, chief executive officer. Blackton has been supplying KB Home – one of Central Florida’s top 10 homebuilders – for two decades. 

“Since 2004, we have supplied more than 10,000 of their new homes in the greater Orlando and Tampa Bay areas,” he said.  

Blackton, Inc., a family-owned business headquartered on Alden Road north of downtown Orlando with branch locations in South Orlando, Holly Hill and Leesburg, has been supplying the home building industry from Jacksonville to Tampa for over 68years. 

 

 

CONTACTS:

 

Michael “Micky” Blackton, CEO, Blackton, Inc.

 407-898-2661 

Micky@Blacktoninc.com

 

Beth Payan

Larry Vershel Communications, Inc

407-461-3781,

beth@larryvershel.com

.2433 Lee Road

Winter Park, FL 32789