Stevens-Leinweber Hires Travis Dana to Lead Business Development in the metro Phoenix, AZ market.

  

Travis Dana

PHOENIX, AZ – Phoenix-based Stevens-Leinweber Construction (SLC) has hired industry veteran Travis Dana to lead the company’s business development efforts as it continues its historic growth.

Jamie Godwin

“We are homegrown in Phoenix and focus solely on serving Phoenix,” said Stevens-Leinweber Construction President and CEO Jamie Godwin. “Travis is exceptionally well respected and talented, and wants all those around him to succeed.

 "These qualities align well with our business development ethos and make Travis the perfect person to help us pursue current and future market opportunities.”

 

SLC has completed more than 9,500 tenant improvement projects since its founding in 1981 and currently has more than 17 million square feet of ground-up Class A office and industrial space completed or in planning, with both its TI and ground-up divisions continuing to grow.

 

Dana contributes 13 years of commercial real estate experience, including property management and project management for industry leaders such as Transwestern, Lincoln Property Company and Hines. He holds a bachelor’s degree in Business Marketing from Arizona State University.

 

Dana can be reached at tdana@stevensleinweber.com.

 

 

 

 

CONTACT:

 

 Stacey Hershauer

stacey@focusaz.com

480.600.0195

 

stevensleinweber.com.

 

 

 

$24 million in financing secured by JLL Capital Markets for Silver Star Commerce Center, an eight-property, shallow-bay industrial park in Orlando, FL

 

Melissa Rose

MORRISTOWN, NJ –  JLL Capital Markets has arranged $24 million in financing to recapitalize Silver Star Commerce Center, an eight-building, shallow-bay industrial park totalling 254,915 square feet in Orlando, Florida.

Silver Star Commerce Center, 
an eight-building, shallow-bay industrial park
totalling 254,915 square feet in Orlando, FL

 JLL worked on behalf of the borrower, a joint venture between Denholtz Properties and Long Wharf Capital, and secured the loan from Webster Bank.

Jon Mikula

Silver Star Commerce Center is currently 95 percent occupied by 29 tenants spanning various industries, including construction, manufacturing, transportation and warehousing and utilities.

 

The portfolio features ceiling heights between 18 and 20 feet along with 69 loading docks, 20 drive-in doors and a total of 508 parking spaces.

 

The portfolio is located at 3600-3802 Silver Star Rd. and 3717-3763 Mercy Star Ct. Silver Star Commerce Center is in Northwest Orange County, one of the fastest growing submarkets in Central Florida within the Orlando Market, which currently exhibits an overall vacancy of 6.1%.

Michael Klein

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula, Michael Klein and Melissa Rose, Associate Salvatore Buzzerio, and Analyst Jovanni Rodriguez.

 

“Shallow-bay industrial continues to perform well with consistent rent growth and demand,” said Mikula.

 

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

 

CONTACTS:

 

Kristen Murphy,

 JLL Director, PR

Phone: +1 617 543 4873

Email: Kristen.Murphy@jll.com 

 

jll.com.  

websterbank.com.

www.longwharf.com

denholtz.com.

 

Dallas-based Kobalt Investment Company LLC acquires Laredo, TX-based Rio Norte Shopping Center in partnership with Stonefield Investment Advisors and Espada Real Estate

Ginnie McCorkle

  

 DALLAS, TX – JLL Capital Markets announced Kobalt Investment Company LLC, a Dallas-based commercial real estate investment firm, has acquired a controlling interest in the Rio Norte Shopping Center, located in the high-growth border town of Laredo, TX.

 

Kobalt partnered with Dallas’ Stonefield Investment Advisors LLC and San Antonio’s Espada Real Estate to acquire the 222,291-square-foot Class A retail center. JLL represented the seller in the transaction. The price was not  disclosed.

 

Rio Norte Shopping Center, Laredo, TX

"We are thrilled to acquire control of this exceptional retail asset in the booming Laredo market," said Ginnie McCorkle, Partner in Kobalt Investment Company. "Rio Norte's premier location, performance and the area's robust growth dynamics drive this outstanding investment opportunity."

 

Adam Howells

Located directly off Interstate 35, the center is in the heart of Laredo’s retail core that includes one of the nation’s top Walmart Supercenters and the Mall del Norte, a 1.2 million-square-foot super-regional mall.

 

Anchored by the top-performing Ross Dress for Less in Texas, Rio Norte Shopping Center is also home to Michael’s, Petco, Dollar Tree, Shoe Carnival, Five Below, dd’s discounts, Spec’s and more.

Matthew Barge.

JLL’s Retail Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Adam Howells and Associate Matthew Barge.

 

 

CONTACT:

 

Grace Lewis,

 JLL PR

Phone: +1 903 520 3478

Email: grace.lewis@jll.com

jll.com.

 

JLL’s Hotels & Hospitality group arranges $575 million financing for The Diplomat Beach Resort in Hollywood, FL

The Diplomat Beach Resort, an award-winning
 beachfront resort with 1,000 guest
 rooms in Hollywood, FL

 HOLLYWOOD, FL – JLL’s Hotels & Hospitality group has arranged $575 million in financing for the Diplomat Beach Resort, an award-winning beachfront resort with 1,000 guest rooms in Hollywood, Florida.

 

JLL worked on behalf of the borrower, a joint venture between real estate funds managed by Trinity Investments (“Trinity”) and funds managed by UBS Asset Management’s Real Estate & Private Markets Multi-Managers business, to secure the five-year, floating-rate loan through mortgage lenders, Citi and Deutsche Bank. 

The interest-only loan also included mezzanine financing provide by Ohana Real Estate Investors and Canadian Pension Plan Investment Board (CPPIB).

 

JLL was also involved in the 2023 sale of the resort to Trinity and funds advised by UBS Asset Management, which represented the third largest single-asset hotel sale ever in the U.S. at the time. 

Kevin Davis 

The South Florida lodging industry saw a tremendous recovery post-Covid making it one of the best-performing hotel markets in the country, benefitting significantly from an increase in leisure travel, recovery of group demand and the significant demographic shift into South Florida. 

According to JLL’s State of the Florida Lodging Industry report, revenue per available room (RevPAR) in each of the state’s top 10 lodging markets beat the U.S. average in 2023.

 

The Diplomat Beach Resort is currently managed by Hilton Hotels and Resorts under the Curio Collection by Hilton brand. Extensively renovated and repositioned through a comprehensive $90 million dollar capital plan in 2018, the Diplomat Beach Resort is a world-class beachfront meeting and events-focused resort. 

The resort features 1,000 guest rooms and suites and over 200,000 square feet of integrated meeting and events space. The property consists of a twin-spired, 36-story tower containing the hotel rooms, a 15,000-square-foot spa, six restaurants and bars plus multiple pools and cascading waterfalls.

Mike Huth

Additionally, the property is situated on 10 acres of Atlantic Ocean beachfront offering kayaking, paddleboarding and jet ski rentals. 

 

The JLL Hotels & Hospitality team representing the borrower was led by Americas CEO Kevin Davis and Managing Director Mike Huth.

 

“We are pleased to have represented Trinity in the financing of this iconic Florida beach resort, which is poised for outsized performance growth following a planned renovation, coupled with the ongoing strength of the South Florida lodging market,” Davis added.

 Franco Famularo 

 The Ohana Real Estate Investors team was led by President & Chief Investments Officer Franco Famularo and Managing Director Eddie Yu, partnering with CPPIB to structure the mezzanine loan.

Eddie Yu

 “The Ohana credit team was grateful for the opportunity to refinance this irreplaceable property for Trinity,” said Famularo.

 

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

 

 

CONTACTS:

 

 Kristen Murphy

JLL Director

Public Relations

Phone: +1 617 543 4873

Email:  Kristen.Murphy@jll.com 

 jll.com. 

 ohanare.com.

  LinkedIn

Subtext Breaks Ground on “VERVE Knoxville” Student Housing Development Near University of Tennessee

Rendering of future VERVE Knoxville
 student housing development.
(Source: Dynamik Design, provided by Subtext) 

Knoxville, TN, June 18, 2024 – Subtext, a national student and multifamily real estate company, and Brinkmann Constructors, a national general contractor, hosted an official groundbreaking ceremony on June 17, 2024 for VERVE Knoxville, a 14-story student housing community adjacent to the University of Tennessee campus in Knoxville, TN.

 

 VERVE Knoxville is Subtext’s second project in Knoxville, following the delivery of TENN in 2018, and is expected to be completed in summer 2026.

 

Located at 1919 Lake Avenue, just one block away from the retail and dining district along Cumberland Avenue, VERVE Knoxville will offer 136 units with a mix of one- two-, three-, and four-bedroom layouts, offering a total of 498 beds.

Members of the development team for VERVE Knoxville,
a new student housing development
near the University of Tennessee
 pose at the official groundbreaking
ceremony held on June 17.

Each of the fully furnished apartments includes private bedroom(s) and bathroom(s), high-speed internet, washer and dryer, controlled access, and designer finishes.               

 

ELEVATED BUILDING & AMENITIES DESIGN

 

Featuring modern architecture by Dynamik Design, the 329,294-square-foot community consists of nine residential floors over a 5.5-level parking podium with 318 residential parking spaces. VERVE Knoxville boasts over 12,500 square feet of shared amenities, including a wellness suite with a sauna and meditation rooms, a state-of-the-art fitness center and yoga studio, study pods and open study lounges, a pool terrace overlooking Mount Castle Park, and a rooftop sky deck and sky lounge, which is unique to the market.

Brandt Stiles

“We’re hyper-focused on Power 4 Conference and R1 universities with strong market fundamentals and enrollment growth outpacing other top markets,” said Brandt Stiles, Founding Partner, Subtext. “These data points, combined with our experience in Knoxville, made this an ideal location for us. We’re excited to bring the VERVE brand to UT. VERVE is not just an exceptional building; it’s really a lifestyle designed for the unique needs and well-being of our residents.”

 

Brinkmann and Subtext have a long history of project collaboration that includes LOCAL Nashville, a 15-story multifamily community, which delivers in Fall 2024. VERVE Knoxville closed in May 2024 with construction financing from FNBO.

 

Brian D. Satterthwaite

“We’re thrilled to partner with Subtext to bring another student housing property that supports students’ physical and emotional well-being to the University of Tennessee, Knoxville community,” said Brian D. Satterthwaite, CEO of Brinkmann Constructors. “We value our partnership with Subtext — together we have been able to create some really special communities in desirable locations while simultaneously providing real solutions for student housing demand.”

 

 

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

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 of Real Estate Editors (NAREE)

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