JLL Capital Markets arranges $44 million financing for The Delford, Class A apartments in Bergen County, Northern New Jersey

 

The Delford, a 160-unit luxury apartment community
 in Rochelle Park, Bergen County,  NJ

 

Michael Klein

MORRISTOWN, NJ–  JLL Capital Markets has secured a $44 million financing for The Delford, a 160-unit luxury apartment community in Rochelle Park, Bergen County, New Jersey.

 

JLL represented the borrower, Tulfra Realty Company, in securing the five-year, fixed-rate loan through Nuveen Real Estate.

 

Situated at 120 W. Passaic St., The Delford is ideally located within the inner ring of the greater New York Metropolitan area, providing excellent highway access to New York City and northern New Jersey.

With a Walk Score® of 77, the community is highly walkable and conveniently surrounded by grocers, retail markets and notable destinations like MetLife Stadium and the American Dream complex.

 

Jon Mikula 

Additionally, the community offers direct access to Manhattan via NJ Transit’s Passaic Street and Anderson Street train stations.

 

Situated a mere 16 miles from the bustling metropolis of New York City, Rochelle Park enjoys the advantages of Bergen County's affluent demographics. The county's population has experienced a 6.4% increase since 2010, fueling high-demand for housing.

This desire has led to a scarcity of available rental units, evident by a low vacancy rate of just 2.8%. The average household income of $162,656 lures those seeking a luxurious lifestyle, especially considering the steep median home price of $725,000, making the market predominantly favorable for renters.

Ryan Carroll

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Michael Klein and Jon Mikula and Vice President Ryan Carroll.

 

“This transaction demonstrates the depth and strength of the Capital Markets for new multifamily projects in in-fill markets,” said Mikula.

 

 

 

 

 

CONTACT:

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877 us.jll.com/capitalmarkets Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413

 

 

 

JLL Capital Markets secures 7-year refinancing loan for Arcadia Street Capital on Parkside Heights, a garden-style Class A apartment community in Lexington, KY

 

Parkside Heights, a 149-unit, Class A apartment community
built between 2020 and 2021 in Lexington, KY

DENVER, CO –  JLL Capital Markets has secured  refinancing for Parkside Heights, a 149-unit, Class A apartment community built between 2020 & 2021 and located in Lexington, Kentucky.

 

JLL worked on behalf of Arcadia Street Capital to originate the seven-year fixed rate, interest only Fannie Mae loan. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.

 

 Kristian Lichtenfels 

Situated at 320 Hannah Todd Place, Parkside Heights enjoys close proximity to downtown Lexington, major employer hubs, shopping, entertainment options, St. Joseph's hospital and multiple golf courses. With a median household income of $99,142 in a one-mile radius, Parkside Heights is located in an affluent suburb sought after by a prosperous demographic.

Lexington, known as the horse capital of the world, has a population of over 300,000 residents. Situated close to Louisville and Cincinnati, the town is home to major employers like Lexmark International, Toyota Motor Manufacturing, Valvoline World and the University of Kentucky.

 

Spanning over 9.42 acres, Parkside Heights’s total building area comprises of 166,867 square feet with 255 parking spaces. The four-building community was built between 2020-2022, and currently boasts an impressive 98% occupancy rate.

Nelson Almond.

Residents of this garden-style complex enjoy a host of convenient amenities including a fitness center, pool, clubhouse and on-site maintenance. 

Each one-, two- and three-bedroom unit is thoughtfully designed with in-unit washers and dryers, spacious walk-in closets, balconies and patios, granite countertops and LTV flooring.

 

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Director Kristian Lichtenfels and Director Nelson Almond.

 

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

 

 

 

CONTACT:

 

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877 us.jll.com/capitalmarkets Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413

 

 

 

Brian Hughes Named EVP of Business Development and Damien Abrams Promoted to VP of Lifestyle Brands at Twenty Four Seven Hotels

 

Brian Hughes

NEWPORT BEACH, CA, Aug. 26, 2024—Twenty Four Seven Hotels, a third-party hospitality management company for premium-branded, select-service and lifestyle hotel segments in the western U.S., has named Brian Hughes executive vice president of business development and promoted Damien Abrams to vice president of lifestyle brands to accommodate recent business growth. 

  The executive team expansion is a part of the company’s strategic plan for further growth into new markets and segments.

Damien Abrams 

“Twenty Four Seven Hotels  continues to enjoy strong momentum well into 2024, expanding our footprint in existing markets and entering new ones like Texas,” said David Wani, CEO, Twenty Four Seven Hotels. 

 

“We have created new internal roles to accommodate this growth, especially as we move into the lifestyle and food & beverage segments.  "Brian is a well-known hospitality veteran with invaluable contacts across the industry, and Damien is a leading voice in the upscale and lifestyle spaces. These new positions demonstrate our commitment to continued growth while maintaining the highest standards required by our partners.”

 David Wani

 

Brian Hughes

                With nearly 30 years of hospitality experience, Hughes most recently served as managing director of JLL, a global leader in real estate services and investment, where he was responsible for hospitality transactions throughout Texas.  Prior to that, he held multiple roles with Ashford Hospitality Inc., the exclusive advisor to Ashford Hospitality Trust and Braemar Hotels & Resorts, most recently as senior vice president of real estate investments. 

 

He also holds a Texas Real Estate Sales Agent license.  He received his BBA in finance from Texas Christian University and his MBA in Finance from SMU Cox School of Business.

 

Damien Abrams

                A 20-year hospitality veteran, Abrams joined Twenty Four Seven as general manager to successfully open The 87-suite Steward, a Tribute Portfolio Hotel located in Santa Barbara, Calif.  Prior to this promotion, he served as regional director of operations for the company with a key focus on food & beverage operations. 

 

 Previously, he held multiple, executive positions with prestigious hotels throughout the U.S., including manager of the 4-diamond Renaissance Newport Beach and director of hotel operations of the award-winning Marriott Irvine Spectrum and Hive and Honey Rooftop Bar.

 

 He earned his BS in hotel administration from the University of Nevada-Las Vegas.

 

 

 

CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

www.247hotels.com.

 

Regency Centers Announces New Safeway-Anchored Ground-Up Shopping Center Development in Oakley, CA

John Mehigan

 

OAKLEY, CA, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Regency Centers has announced the commencement of Oakley Shops at Laurel Fields (“Oakley Shops”), a new Safeway-anchored ground-up development in Oakley, CA.

Oakley Shops will include approximately 79,000-square-feet of retail and marks Regency’s first development in the Northern California submarket. This new development will be situated at the signalized arterial intersection of Laurel Road and O’Hara Avenue and will address a void of limited high-quality retail and grocer destinations in the trade area.

“Oakley Shops is not only a testament to our ability to find deals in the market, but also the strength of our anchor relationships,” said John Mehigan, Senior Vice President of Investments at Regency Centers.

“Best-in-class operators know that we can make projects happen, and that our focus on long-term ownership will deliver a quality property in a prime location that will be maintained and enhanced for as long as we own it.”

Craig Ramey

“Regency has a unique ability to find opportunity and untapped value, regardless of headwinds or hurdles,” said Craig Ramey, Development Partner for Regency Centers. “Our reputation only continues to grow through each success, as well as the consideration and care that we take with our partners.”

Safeway will occupy approximately 56,000 square feet at Oakley Shops, with an additional 23,000 square feet of quality retail, restaurant, and everyday needs. Upcoming merchants are currently in various stages of lease negotiation and discussion, with more announcements anticipated soon.

For more information on Oakley Shops, including leasing opportunities, contact Michelle Rooney at MichelleRooney@regencycenters.com.

 CONTACT:

Eric Davidson
904 598 7829
EricDavidson@RegencyCenters.com

RegencyCenters.com.