JLL Capital Markets handles $47 million refinancing for the 529,212-square-foot The Crosslands in Kissimmee, FL

  

Val McWilliams.

 MIAMI, FL – JLL Capital Markets has arranged the $47.1 million refinancing of The Crosslands, a 529,212-square-foot retail center located in Kissimmee, Florida within the high-growth Orlando Metropolitan Statistical Area (“MSA”).

 

Jon Mikula

JLL represented the borrower, a joint venture between the Hampshire Companies, Federated Hermes and O’Connor Capital Partners, to secure the three-year, non-recourse loan through TD Bank.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula and Michael Klein, Managing Director Brian Gaswirth, and Analysts Michael Kavaler and Val McWilliams.

 

“Retail fundamentals in Orlando remain among the strongest in the nation, and this transaction highlights that bank liquidity remains readily available for centers with strong surrounding demographics," Gaswirth said.

 Michael Klein

 "We are grateful for the expertise brought to the table by the sponsors and look forward to the continued partnership and ongoing success of this property.”

 

Completed between 2014 and 2016, The Crosslands is currently 100% leased to an extensive line-up of national retailers.

 

The property’s anchors include The Fresh Market, Burlington, Academy Sports, Hobby Lobby, Marshalls/HomeGoods and Ross. The center is ranked in the top 4% of Florida shopping centers by visits, drawing in 4.4 million shoppers annually (Placer.AI).

 

Located at 1100 W Osceola Pkwy. in Kissimmee, The Crosslands sits at a prime location at the intersection of Osceola Parkway and Orange Blossom Trail (±90,000 VPD), with over 3,000 feet of frontage.

Brian Gaswirth

Osceola Parkway is the primary-east west thoroughfare serving Kissimmee, providing visitors direct access to both Interstate-4 and Florida’s Turnpike. The property is less than 20 miles from Orlando’s Central Business District (“CBD”).

 In addition, the center provides convenient connectivity to the rapidly growing communities of St Cloud, Poinciana, Davenport and the over 70 million visitors annually at the nearby theme parks and attractions.

 

Within a five-mile radius is over 250,000 residents with a $76,000 average household income, and over 4,300 new residential units are planned or under construction within one mile of the property.

 

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula and Michael Klein, Managing Director Brian Gaswirth, and Analysts Michael Kavaler and Val McWilliams.

Michael Kavaler 

“Retail fundamentals in Orlando remain among the strongest in the nation, and this transaction highlights that bank liquidity remains readily available for centers with strong surrounding demographics," Gaswirth said.

 

 "We are grateful for the expertise brought to the table by the sponsors and look forward to the continued partnership and ongoing success of this property.”

 

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 Crosslands, a 529,212- SF retail center
located in Kissimmee, FL

 

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

 

 

 

Remedy Medical Properties and Kayne Anderson Real Estate Break Ground on New Lynchburg Medical Office Building for Centra

The 130,000-square-foot medical office building will increase access to quality healthcare in Lynchburg

Remedy Medical Properties, Kayne Anderson Real Estate and Centra recently broke ground on the Centra Langhorne Medical Center, a new 130,000-square-foot medical office building expected to open in late 2025. Please click on the images to link to a high-resolution version.

LYNCHBURG, VA and CHICAGO, – Remedy Medical Properties and its partner Kayne Anderson Real Estate, together the nation’s largest private owners of healthcare real estate, broke ground on March 20 for the Centra Langhorne Medical Center, a new 130,000-square-foot medical office building (MOB) near Centra Lynchburg General Hospital.

Slated to open in late 2025, the new five-story MOB at 2125 Langhorne Road will be 100% occupied at opening. The facility will offer a wide range of outpatient services.

“Remedy is very pleased to partner with Centra on this wonderful multispecialty center that will provide the residents of Lynchburg increased access to quality healthcare,” said Remedy founder Peter Westmeyer. “It’s a great example of how we assist innovative health providers like Centra to anticipate and satisfy the needs of both patients and practitioners in convenient, high-quality settings.”

Peter Westmeyer

Prominently located on the corner of Langhorne and Tate Springs Road, the site provides room for future horizontal expansion. The roundabout entrance will connect the campus to the neighboring multifamily development, and a wellness trail will link the property to Lynchburg’s popular Blackwater Creek Trail system.

“The design of the building draws inspiration from Lynchburg’s rich history, incorporating building materials originating from the region, to create a holistic set of spaces to address the care, development, and well-being of the local community,” says Diane Ludwig, Centra chief communications officer. “When completed, this modern facility will enable us to efficiently and effectively deliver a wide variety of healthcare services close to home.”

The project development team also includes Haskell Architecture and Engineering Inc., civil engineer Hurt & Proffitt, Inc., structural engineer O’Donnell & Naccarato, Inc. and contractor Robins and Morton.

Remedy Medical Properties, Kayne Anderson Real Estate and Centra break ground for the Centra Langhorne Medical Center on March 20. From left: Diane Ludwig (SVP Chief Marketing & Communications Officer at Centra Health) Megan Lucas (CEO & Chief Economic Development Officer at Lynchburg Regional Business Alliance) Dr. George Hurt (Centra Foundation Rep - Centra Vice President of the Virginia Henderson Institute for Clinical Excellence) Amy Carrier (President and CEO, Centra Health) David Martin (Executive Vice President & Managing Director | Development Remedy Medical Properties, Inc.) Dr. Tom Nygaard (Retired – Serves on Board of Centra as an Independent Director)

As part of the development agreement, Remedy and Kayne Anderson also acquired Centra’s Danville Medical Center. The two-story, 47,900-square-foot MOB located at 414 Park Avenue in Danville, Virginia, was completed in 2016 and is 100% long-term leased by Centra. The facility offers primary care, urgent care and cardiology.

About Remedy Medical Properties
Remedy Medical Properties is a full-service healthcare real estate company and the largest private owner of healthcare properties in the country, with over 30 million square feet and 25 offices spanning 43 states. Remedy offers unmatched flexibility in every client engagement, and our adaptability enables us to provide more options in ownership, development, leasing, management, and strategy. Our willingness to commit capital, share more risk, and offer greater foresight results in greater resilience, profitability, and peace of mind for our clients. For more information visit www.RemedyMed.com.

Diane Ludwig

About Kayne Anderson Real Estate

Kayne Anderson Real Estate is a leading real estate investment firm, managing approximately $15 billion in assets under management across opportunistic equity, core equity, and real estate debt, with sector expertise in medical office, seniors housing, off-campus student housing, multifamily housing, and self-storage. Kayne Anderson Real Estate is part of Kayne Anderson, a $35 billion alternative investment management firm with more than 40 years of successful experience in the real estate, renewable and energy infrastructure, energy, credit, and growth capital sectors. For more information, visit www.kayneanderson.com/real-estate/. 

Fideliy Bancorp Funding Names Dillon Freeman Senior Loan Officer in San Diego Region

 Dillon Freeman 

SANTA ANA, CA, April 11, 2024 — Fidelity Bancorp Funding, Inc., a leading financial institution specializing in commercial real estate, multifamily, single-family residential bridge loans, and permanent financing, is pleased to announce that Dillon Freeman has been named Senior Loan Officer focused on the San Diego Region.

 Prior to Fidelity Bancrop Funding Dillon work a combined seven years at Pacific Premier Bank and then Axos Bank. He served in various roles covering origination, credit, portfolio management, special assets, and relationship management.

 

Dillon’s deep lending experience combined with being both a CFA and licensed Broker set him apart from the rest in his ability to get loans done and provide excellent customer service.

 Dillon was a wrestler at Briar Cliff University where he achieved all-conference honors as a team captain and qualified for the NAIA National Wrestling Tournament as a freshman.

 

He obtained his BS in Management Science from UC San Diego. Dillon lives in San Diego with his wife and one-year-old son, Walter.

 

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.”