$35 million refinancing arranged by JLL Capital Markets for Southern California seniors community in Oceanside, CA

 

Olga Walsh 

SAN DIEGO, CA –  has arranged a $35 million construction-takeout refinancing for Ocean Hills Senior Living, a 216-unit, Class A seniors housing campus in Oceanside, California.

 

Working on behalf of Protea Capital Partners, JLL placed the five-year, fixed-rate loan with a regional bank.

 

Located at 4500 Cannon Rd, Ocean Hills Senior Living sits on a hilltop just 3.5 miles from the Pacific Ocean, at the north end of San Diego County. The property's strategic location provides exceptional surrounding demographics and easy access across the region via major freeways, including SR-78 and I-5.

 

Ocean Hills Senior Living is a resort-style complex offering a mix of independent living, assisted living and memory care units in studio, one- and two-bedroom layouts.

 

Greg Spiro

The assisted living/memory care phase of the property was delivered in 2019, with the independent living portion opening in 2021. Initially hampered by COVID, occupancy rates have steadily increased, driven by strong demographic trends and limited inventory growth. The campus reached initial stabilization in Q4 2023.

 

"Despite strong lender interest in the opportunity given its prime location, quality of the community and reputable sponsorship, most offers fell short of the ask," said Walsh. "The regional bank solution provided advantageous loan terms, including higher proceeds and aggressive pricing.”

 

“It was a real pleasure working with the JLL team. Despite having to navigate incredibly challenging circumstances, they never gave up and continued to maintain a level of professionalism that was exceptional,” said Greg Spiro of Protea Capital Partners.

 

 Jack Wood

The JLL Capital Markets Debt Advisory team was led by Director Olga Walsh and Analyst Jack Wood, alongside the JLL Seniors Housing team.

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

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

CONTACT:

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

 

         

 

 

Project Management Advisors, Inc. Appoints Hospitality Specialist Rhonda Rasmussen as Project Director

 

 

Rhonda Rasmussen

 

San Diego, CA –– Project Management Advisors, Inc. (PMA), a leading provider of construction, project management and owners’ representative services, is proud to announce that Rhonda Rasmussen has joined the firm as the newest Project Director on the PMA Hospitality Sector team.

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 With over 25 years of experience in the hospitality industry, Rasmussen will oversee the firm’s efforts in expanding its presence in the western region, with a focus on luxury hotel and resort projects in markets such as California, Hawaii, Colorado, and Nevada.

 

“Rhonda brings a wealth of knowledge, expertise, and an extensive network that will allow us to further expand our footprint in the hospitality sector,” said Mark Knott, Vice President & Hospitality Sector Lead at PMA.

Mark Knott

“We are unique in that our senior hospitality leaders, including Rhonda, are directly involved in projects from start to finish. Rhonda’s experience will have a direct impact for our hospitality clients, particularly on the West Coast.

 

With over 25 years in hospitality design and development, Rasmussen has been recognized for her leadership and innovative designs, earning accolades such as the ASID Award of Design Excellence and the Hospitality Design Award.

 

Before joining PMA, she was Director of Interior Design at T2 Development, overseeing high-profile hotel projects.

 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.”

 

pmainc.com.

 

 

 

JLL bolsters its Hotels & Hospitality group with two New York City hires Carolina Bernal and Mackenzie Melikian

 Carolina Bernal

NEW YORK CITY, NY –  JLL’s Hotels & Hospitality group announced two key additions to its New York City office: Carolina Bernal as Senior Director and Mackenzie Melikian as Senior Associate.

 

Bernal and Melikian will focus on New York City hotel investment sales advisory while also contributing to national investment sales and strategic initiatives.

Mackenzie Melikian 

They will work closely with Kevin Davis, Americas CEO for JLL’s Hotels & Hospitality group, and Dan Peek, Americas President for JLL’s Hotels & Hospitality group.

Kevin Davis

Additionally, Bernal will join JLL's Global Hotel Desk, which is responsible for directing global capital flows into hospitality opportunities, collaborating with Patrick Saade, Global Hotel Desk Head.

Patrick Saade

These appointments align with JLL's expanded focus on the New York City hotel market. Kevin Davis, while continuing his role as Americas CEO, will now oversee day-to-day operations for New York City’s investment sales advisory, underscoring the firm's commitment to this crucial market.

“We're excited to welcome Carolina and Mackenzie to our team,” said Davis. "Their addition, coupled with my increased involvement as I assume day-to-day responsibility for this market, will significantly strengthen our New York City investment sales capabilities.”

Bernal joins JLL from Hodges Ward Elliott, where she was a Director in the Hospitality Investment Advisory practice. At Hodges Ward Elliott, Bernal spearheaded the execution of 21 portfolio and single asset transactions, covering over 31,000 hotel rooms and totaling $7.8 billion in investment sales and debt/equity placement.

 In additional, her background includes roles at HFF, Xenia Hotels & Resorts, CNL Financial Group and Protiviti. Bernal holds a B.S. in business administration with a finance concentration from the University of Central Florida.

Melikian was previously an Associate in the Investment Sales and Capital Markets/Loan Sales group at Hodges Ward Elliott.

 In that role, Melikian orchestrated the production of valuations and offering memorandums totaling approximately $14 billion in asset value for offices nationwide, with a dedicated focus on New York, WashingtonD.C. and Chicago, closing about $700 million during her two years at the firm. 

Her previous experience also encompasses her role as an Analyst at Hodges Ward Elliott, an internship with Four Seasons Hotels & Resorts and project development work with MAK Construction, a family company. 

A Cornell University graduate, Melikian earned a B.S. in hotel administration, concentrating in development, with minors in real estate and design as well as design and environmental analysis. She was also a four-year Cornell Traditions Fellow.

Dan Peek

“Carolina and Mackenzie joining our New York City team marks a significant step in our strategy to deepen our local market expertise while enhancing our national capabilities,” said Peek. 

“As we see increased interest in the New York and broader US hospitality market from domestic and international investors, their insights will be crucial in helping our clients navigate opportunities and challenges in this environment.”

"Carolina's addition to JLL’s Global Hotel Desk further enhances our ability to connect global capital with compelling hospitality deals, consolidating the team's expertise and further reinforcing JLL's leadership in international hotel transactions," added Saade.

CONTACT:

Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

  

JLL Capital Markets leads financing efforts for a 1.9 million SF Class A industrial park at DFW International Airport

 

Lauren Dow

DALLAS, TX –  JLL Capital Markets has secured financing for DFW Commerce Center Phase II & III, a three-building, 1,953,620-square-foot Class A industrial park located at Dallas-Fort Worth International Airport.

Financial details were not disclosed.

 

JLL represented a joint venture between Goldman Sachs Alternatives and CLX Ventures to secure a floating-rate loan provided by an Ares Management Real Estate fund.

 

Kristi Leonard

The JLL Debt Advisory team was led by Senior Managing Director Campbell Roche, Directors Lauren Dow and Kristi Leonard, Associate Ryan Pollack and Analyst Campbell Swango. JLL’s Senior Managing Directors Kurt Griffin and Nathan Orbin also lead the leasing efforts for the industrial park.

 

Located at 2501, 2701 and 2801 S. Airfield Dr. in Irving, Texas, the park is comprised of three buildings on a Dallas-Fort Worth International Airport ground lease. The buildings are part of the second and third phases of DFW Commerce Center.

Campbell Swango

Phases II and III cater to distribution and warehouse users with their excellent access to SH 161, SH 183, and SH 114. Additionally, the buildings feature clear heights ranging from 32- to 40-feet, 180- to 185-foot truck court depths and 399 total dock doors. Notably, Phases II and III are the last developed properties on a DFW Airport ground lease with Foreign Trade Zone capability.

Campbell Roche

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, please visit JLL’s newsroom. 

 

About CLX Ventures

CLX Ventures is a real estate development and private equity investment company established by Brad Copeland and Tony Long in January 2019. Together they bring over 75 years of real estate experience to the table, providing entrepreneurial initiative to create innovative, market-leading projects focusing on industrial and multifamily developments in Texas.

Ryan Pollack 

Since its inception, CLX Ventures has completed over 20 new projects with construction valued in excess of $1 billion. 

 Their investment performance track record over that time period is in excess of 30% IRR to its investors, with over 8 millions square feet of industrial and over 2300 units of multifamily developed.

 

About Real Estate at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. 

Kurt Griffin

Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

 

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

 

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023.

Nathan Orbin

Established in 1991, Real Estate at Goldman Sachs Alternatives is one of the leading investors in real estate with over $60 billion in capital invested since 2012 across the spectrum of investment strategies from core to opportunistic and credit. 

The global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity. Follow us on LinkedIn.

 

 

 

 

CONTACT:

Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com