JLL arranges financing for 2.4-million-SF Dallas, TX industrial center project being developed by Perot Development Company and Invesco Real Estate

Stephen Bailey

DALLAS, TX – JLL Capital Markets announced it has arranged equity and construction financing for DFW Park 161, a Class A+ industrial park that will eventually total more than 2.4 million square feet at the Dallas-Fort Worth International Airport in Irving, Texas.

JLL worked on behalf of Perot Development Company to arrange the partnership with Invesco Real Estate, a global real estate investment manager. Additionally, working on behalf of the partnership, JLL arranged a five-year construction loan.

Situated on 196 acres at 5150 State Hwy 161, the DFW Park 161 site is at the east end of Dallas Fort Worth (DFW) International Airport fronting the President George Bush Turnpike and within the E DFW Airport / Las Colinas submarket.

The site also adjoins the Dallas Area Rapid Transit (DART) Orange Line and is directly across the freeway from the DART Belt Line Station.

Dustin Voltz 

Designed by Halff Associates, DFW Park 161 will consist of a four-building, highly efficient, Class A+ industrial business park. 

The project will be developed in phases and feature cross-dock buildings that have between 32- and 40-foot clear heights, 121 bays, 383 trailer parks and wide column spacing.

The JLL Capital Markets team representing the developer was led by Director Stephen Bailey, Managing Director Dustin Voltz and Senior Managing Director John Rose.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

John Rose

About Perot Development Company

Perot Development Company is a full-service real estate company that is responsible for the construction/development, leasing and management of their facilities. 

 Perot Development specializes in the development of air cargo and warehouse/distribution facilities at major airports in the U.S. Major developments.

The facilities include Logistics Centers I-V and 6-11, Aviall headquarters, Dallas Airmotive Aircraft Engine Repair & Test Facility, Schenker Logistics/BAX Global logistics facility and Life Science Logistics distribution center, all at DFW International Airport, and the UPS regional gateway hub at Houston Intercontinental Airport.

Contact:

 Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

perotdevelopment.com.

Weiss Serota Helfman Cole & Bierman Welcomes Return of Partner Anthony Recio

Anthony (Tony) Recio 

MIAMI, FL – Weiss Serota Helfman Cole & Bierman P.L. announces the return of Anthony Recio to the law firm as Partner. He is part of the firm’s land use and zoning division.

Recio’s practice focuses primarily on the representation of private developers in land use and zoning matters, along with real estate investors and private lenders in South Florida.

He has significant experience with complex tax-credit financing guidelines and has written legislation at the local level to better facilitate development of affordable housing and mixed-income housing.

 Mitchell Bierman

Prior to his return to the firm, Recio took a three-and-a-half-year sabbatical at a Buddhist retreat, where he dedicated his time to meditation and self-reflection. His experience there was detailed in an in-depth profile published by the Daily Business Review.

“We whole-heartedly supported Tony when he decided to take a sabbatical and we whole-heartedly welcome his return to the firm,” said Miami Office Managing Director Mitchell Bierman. 

“Tony has always been a stellar attorney, and I know with his new sense of clarity from the retreat he will continue to serve his clients in a way only Tony knows how, with grace and deep insight and compassion “

.  

Contact:

Mara Gordon

Digital PR Specialist, BoardroomPR

mgordon@boardroompr.com

O 954-370-8999 

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.wsh-law.com.

BLT Enterprises Sells Three-Building Office and R&D Campus in San Diego's Sorrento Mesa Submarket for $39 Million

Sorrento Tech campus, comprised of three creative office/R&D buildings totaling more than 93,480 square feet, in the Sorrento Mesa submarket of San Diego, CA

SAN DIEGO, CA, May 20, 2020 – BLT Enterprises, a multi-faceted real estate investment company based in Santa Monica, California, has sold the Sorrento Tech campus, comprised of three creative office/R&D buildings totaling more than 93,480 square feet, in the Sorrento Mesa submarket of San Diego, California, to Longfellow Real Estate Partners for $39 million.

Bernard Huberman

During the firm’s four-year ownership of the assets, BLT Enterprises implemented a strategic repositioning plan, driving up the value and bringing the campus to 100% occupancy, according to Founder and President Bernard Huberman.

“We purchased the buildings mid cycle following the Great Recession, recognizing the value of their central location in a booming submarket,” says Huberman, noting that at the time, one-third of the project was vacant, functionally obsolete space, and two of the buildings had been distressed assets purchased from the prior lender. 

“We completed a range of light-to-heavy upgrades and the campus has now been fully leased to multiple tenants for several years.”  

Drawing on extensive experience in adaptive reuse, BLT Enterprises’ renovations to the campus included transforming a 35,000 square-foot raw industrial space into innovative creative office product, offering an open floor plan, complete with three executive offices, a large conference room, an upgraded kitchen, and outdoor patio. 

 Ron Jacobson 

Huberman notes that the decision to sell at this time made sense as the firm looked ahead to the long-term future of the submarket in which the campus is located.

“As Sorrento Mesa has increasingly distinguished itself as one of San Diego’s biotech and life science hubs, we envision that the strategic next step for the Sorrento Tech campus will be to invest heavily in tailoring the facilities to life sciences and biotech companies,” explains Huberman. 

“Because that is not currently within our core focus, and with demand and construction activity at a high in the submarket, we decided now was a prime opportunity to sell.”

According to Huberman, Longfellow Real Estate Partners is focused on expanding its life sciences portfolio in the area and could benefit from Sorrento Tech’s flexible entitlements down the line.

Rick Reeder

The campus is currently 100% leased to CV Sciences, TorreyCove Capital Partners, L3 Technologies, and Ron’s Pharmacy.

The buildings are located at 10070, 10140, and 10180 Barnes Canyon Road in San Diego, California. Ron Jacobson of SD Realty Partners, along with Rick Reeder and Brad Tecca of Cushman & Wakefield, completed the transaction on behalf of both the buyer and the seller.

About BLT Enterprises

Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate investment company with an exceptional track record of success in industrial and commercial real estate. 

Brad Tecca 

The firm has developed or acquired more than $2 billion in assets to date.

BLT Enterprises specializes in the acquisition, entitlement, development, operation, and property management of industrial, office, retail, mixed-use and special-use properties.

Contacts:

Elisabeth Manville / Katie Haga

Brower Group

(949) 438-6262

emanville@brower-group.com

Third Location of Blackton Inc., a Family-Owned Flooring and Roofing Supply Firm, Opens at New Leesburg, FL Facility

                Blackton Inc.’s Jim Martiniza (left) and Clay Weaver 

            review orders for the day at their new Leesburg, FL facility.

LEESBURG, FL and ORLANDO, FL -- Blackton, Inc., one of Central Florida’s largest and most active suppliers of roofing and flooring materials to the homebuilding industry opened a third location in the heart of Leesburg to better serve its builder clients in Lake, Marion and Sumter counties. 

 Michael “Micky” Blackton, chairman and CEO, said Blackton opened the branch location at 105 Park Center St .  Business hours are Monday through Friday 8 a.m. to 5 p.m.

Michael “Micky” Blackton

“This expansion enables us to service current and new customers with greater turnaround time,” he said.   

Blackton has been operating since April out of the new 15,000 square foot facility and a half acre staging area with an initial staff of 18.

Headquartered just north of downtown Orlando with a retail location in southwest Orlando , the family-owned business has been supplying the home building industry from Jacksonville to Tampa since it was founded more than six decades ago.

CONTACTS:

Michael “Micky” Blackton, Chairman, Blackton Inc.

 407-898-2661 Micky@Blacktoninc.com

Beth Payan, Larry Vershel Communications

407-644-4142 or 407-461-3781 Lvershelco@aol.com

Native Realty Launches New Property Management Company in Fort Lauderdale, FL

 Jaime Sturgis

FORT LAUDERDALE, FL –– Native Realty, the pioneering Fort Lauderdale-based commercial real estate firm led by Jaime Sturgis, has successfully launched Native Management.

The new property management company enables Native Realty to operate as a full-service, vertically integrated company and assist clients in all facets of real estate investment and ownership.

Sturgis partnered with industry veteran Carlos Saez to join Native Management as COO. Saez brings substantial property management experience and entrepreneurial spirit to the company.

Carlos Saez

Before joining Native Management, Saez served as COO at PropertyForce.

  

Native Realty is headquartered at 719 NE Second Ave. in Flagler Village, Fort Lauderdale, FL

CONTACT:

Eric Kalis

Vice President, BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.nativere.com. 

nativere.com/manage.

Arbor Funds $4.1 Million Fannie Mae DUS® Loan in Indianapolis, IN

Michael Jehle

UNIONDALE, NY (May 19, 2020) – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae DUS® Loan in Indianapolis, IN.

 Three Fountains West Cooperative, a multifamily affordable housing property, received $4.1M in refinance funding through the program.

 Michael Jehle of Arbor’s Oklahoma office originated the loan.

 “This transaction involved the refinancing of an existing loan on our books that was maturing,” Jehle said. 

Three Fountains West Cooperative, Indianapolis, IN

“The members of this cooperative wanted to pay off their loan as quickly as possible and we were delighted to help them achieve this goal by offering a self-amortizing, straight 15-year fixed rate loan at an interest rate significantly lower than their current mortgage rate.”

 Built in 1972, Three Fountains West Cooperative is comprised of one-, two- and three-bedroom units. The newly renovated complex includes a large community building and playgrounds, and is conveniently located near public transportation and retail shopping.

 Jared Stein

Arbor Funds $15.4 Milion Fannie Mae Loans in Texas

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded $15.4M in Fannie Mae loans in Texas.

 Kenwood Heights Apartments in Corsicana, TX, received $8.2M in acquisition financing, with a 12-year fixed rate, one year of interest only payments and 30-year amortization through the Fannie Mae DUS® program.

Built in 1984, the pet-friendly property is made up of 211 residential units. Retail shopping and Navarro College are located nearby. 

 Kenwood Heights Apartments
Corsicana, TX

 Bella Brisa Apartments in Laredo, TX, received $3.2M in refinance funding, with a 10-year fixed-rate, two years of interest only payments and 30-year amortization through the Fannie Mae DUS® Small Loans program. 

The multifamily property was built in 2012 and includes 42 units.

 Monaco Boulevard Apartments in Laredo, TX, received $4M in refinance funding, with a 10-year fixed-rate, two years of interest only payments and 30-year amortization through the Fannie Mae DUS® Small Loans program. Built in 2013, the multifamily property features 44 units.  

 Jared Stein of Arbor’s New York City office originated the loans.

 “Partnerships are the lifeline of our business,” Stein said. “Together, Arbor and Fannie Mae remain committed to providing liquidity to the workforce housing sector during these unprecedented times.”

Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

800.ARBOR.10

arbor.com

Ware Malcomb Announces New Civil Engineering Manager in San Diego, CA

Samuel Bellomio

SAN DIEGO, CA, May 19, 2020 – Ware Malcomb, an award-winning international design firm, today announced Samuel Bellomio, PE has joined Ware Malcomb’s Civil Engineering team as a Project Manager in the San Diego office.

In this new role, Bellomio will oversee civil projects in San Diego. He will work closely with Luke Corsbie, Ware Malcomb Director of Civil Engineering, who has responsibility for the overall growth and management of civil engineering services for the Southern California region.

Luke Corsbie

Bellomio brings 10 years of experience in the civil engineering field to Ware Malcomb. Prior to joining Ware Malcomb, Bellomio was a project engineer with a local San Diego firm, and previously worked in the Seattle market. 

His civil design experience spans both public and private land development projects, with a primary focus on land development and storm water analysis.

Tom Jansen

“Sam brings an incredible combination of talent, experience and enthusiasm to our team,” said Tom Jansen and Chris Strawn, Ware Malcomb Principals of Civil Engineering. “He will be working with Luke Corsbie to grow our civil engineering services in San Diego, and together they are focused on making Ware Malcomb Civil the go-to team in this market.”

Chris Strawn

 Jansen and Strawn are responsible for the leadership and expansion of civil engineering services throughout Ware Malcomb’s offices in North America.

Ware Malcomb’s Civil Engineering team specializes in land development projects, with a focus on efficient design practices to create successful projects for clients.

The team has worked on commercial office, industrial, healthcare, public, education, retail/restaurant, mixed-use, and multi-family, residential and subdivision projects.

“We are excited to have Sam join our team to expand civil engineering services in the San Diego market,” said Tiffany English, Principal of Ware Malcomb’s San Diego offices.

 “His unique skill set, combined with Ware Malcomb’s firm-wide resources in this area, brings another level of service to our local architecture and interior design clients.”

 Tiffany English

Bellomio holds a Bachelor of Science degree in Civil Engineering from Seattle University. He is also a registered Professional Engineer in the state of California.

He is an active member of the Building Industry Association (BIA) Stormwater Taskforce, the California Stormwater Quality Association (CASQA) Best Management Practices Subcommittee, and the County of San Diego Land Development Workgroup.

  

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maureen Bissonnette

 Associate Principal

 Marketing

949.660.9128

 mbissonnette@waremalcomb.com

waremalcomb.com

Lee & Associates Washington, DC Transitions from a Satellite Office to a Freestanding Office

Josh Simon

WASHINGTON, DC, May 19, 2020 -–  Lee & Associates, the largest broker-owned commercial real estate firm in North America, announced today that their Washington, DC office has transitioned from a satellite office to a freestanding office, granting them access to Lee & associates unique capital structure benefits. 

Lee & Associates Washington, DC is led by Josh Simon, who opened the satellite office in July of last year. Since the opening ten months ago, his office has executed an aggressive growth strategy. 

Their team has grown from two brokerage professionals to five, and they are actively recruiting professionals in the following disciplines: capital markets, investment sales, office tenant representation, industrial, and retail.

"We've been thrilled with our affiliation with Lee & Associates and have found the platform and collaboration between offices far stronger than we ever could have imagined," said Simon.

 "During times of market disruption, we typically see a significant migration of Brokers as folks tend to evaluate what platform serves them best for the long term.

"We expect to add several Brokers and Teams as the other large firms cut costs and services, and possibly make commission splits less equitable,” said Simon,

 “We are fortunate to be very well capitalized with the tools and resources in place and are speaking with a number of agents currently.

Jeff Rinkov

"Our goal and expectations are to secure our headquarter space in downtown DC later this year, with plans to open a Northern Virginia satellite location in 2021-2022."

The structure of Lee & Associates is unique in that it is entirely debt-free. The capital deployed during the opening of new offices is raised in advance by Lee & Associates principals across North America. 

"Our entry to DC, a key market for Lee & Associates, could not have better leadership," said Lee & Associates CEO, Jeff Rinkov. 

 "Josh Simon, his team, and their entrepreneurial approach to client service are a very exciting example of our focus on East Coast expansion and a tremendous addition to our team."

Lee & Associates has established an emphasis on expansion over the last five years; new office locations include Boston, MA; Toronto, ON; Cincinnati, OH; Raleigh, NC; Miami, FL; Seattle, WA; Walnut Creek, CA; Vancouver, BC; Minneapolis, MN; Pasadena, CA; Lehigh Valley, PA; Columbus, OH; and Houston, TX.                   

For the latest news from Lee & Associates, please please visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.

Contact:

 Pamela Murphy
Lee & Associates
(832) 315-0219
pmurphy@lee-associates.com