JLL arranges $300 Million construction loan for 830 Brickell in Miami, FL

830 Brickell Tower, Miami, FL

Scott Wadler

MIAMI, FL – JLL announced it has arranged a $300 million construction loan for the development of 830 Brickell, a 1.03 million-square-foot, 56-story, Class A, marquis tower that includes nearly 615,000 square feet of rentable space in the heart of Brickell, Miami’s financial district and premier office market.

JLL worked on behalf of the developers, a joint venture between OKO Group and Cain International, to secure the four-year construction loan through MSD Partners. 

The JLL Capital Markets team representing the borrower included Managing Director Scott Aiese, Senior Director Scott Wadler, Director Jesse Wright and Associate Alex Staikos.

 Vladislav Doronin

“Miami is not only a globally important capital of commerce for international companies, it is also becoming increasingly attractive to domestic firms,” said Vladislav Doronin, Chairman and CEO of OKO Group. 

“The 830 Brickell tower will provide these businesses with access to the core of Miami’s financial district, as well as world-class architecture, design and advanced functionality that this gateway city and its workforce demands.”

Scott Aiese

“As Miami continues to expand as a global gateway for business, we are proud to be a part of its growth and diversification,” added Jonathan Goldstein, CEO of Cain International. 

“We hope that the addition of 830 Brickell will provide a solution for businesses to find a home with luxury modern amenities and conveniences in the heart of Miami’s business center."

830 Brickell is positioned to be the leading office tower in South Florida with world-class architecture and design. 



Anticipated for delivery in first quarter 2022, 830 Brickell is ideally positioned at 830 SE 1st Avenue in the epicenter of Brickell, directly adjacent to Brickell City Center, a $1.5 billion mixed-use development that anchors the neighborhood and provides an abundance of retail and food & beverage amenities within its 560,000 square feet of curated stores and restaurants. 

Jesse Wright

Brickell City Center has been a catalyst for the residential development in the surrounding area and today there are more than 4,400 luxury units within two blocks of 830 Brickell. 

Additionally, tenants at 830 Brickell can access a MetroMover station just steps from the property, providing connectivity through the central business district, and proximity to Interstate 95 allows those traveling by car to easily traverse the region.

“We’re excited to see this world-class office tower added to the epicenter of Brickell, which we believe will become the aspirational address for tenants in this gateway market,” Aiese said.

“OKO and Cain bring a new caliber of development to the Miami market with 830 Brickell’s design features and construction quality,” Wadler added.

Alex Staikos

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 advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

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. 

Jonathan Goldstein

About MSD Partners

MSD Partners, L.P. is an SEC-registered investment adviser that was formed in 2009 by the principals of MSD Capital, L.P. to enable a select group of investors to invest in strategies that were developed by MSD Capital (the private investment firm for Michael Dell and his family). 


MSD Partners utilizes a multi-disciplinary investment strategy focused on maximizing long-term capital appreciation by making investments across the globe in the equities of public and private companies, credit, real estate and other asset classes and securities. 

Michael Dell

MSD Partners is headquartered in New York with additional offices in Santa Monica and West Palm Beach.

Contact: 

Kimberly Steele
JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: Kimberly.Steele@am.jll.com

 U.S. newsroom.
jll.com.
okogroup.com

Trez Forman Funds $11 million loan for adaptive reuse project in downtown Birmingham, AL

  

Planned Mercantile on Morris, 2209-2215 1^st Avenue North, Downtown Birmingham, AL

Birmingham, Al and Palm Beach, FL — An Alabama developer received an $11.227 million loan fromTrez Forman Capital to fund redevelopment of a prime piece of property in downtown Birmingham, Alabama.  

Orchestra Partners is planning a four-story condominium building and 14,170 square feet of retail/restaurant space at 2209-2215 1^st Avenue N., where three older and smaller residential buildings currently exists.

  

Brett Forman

The loan, which closed August 6, was arranged by Brett Forman, president/CEO of Trez Forman and Russ Holland, a Trez Forman managing director who oversees the lender’s Atlanta office. 

Trez Forman has a relationship with the borrower who successfully built and sold out another residential community in downtown Birmingham called Founder’s Station.

This new adaptive reuse project, named Mercantile on Morris, is located on an iconic downtown street in a highly walkable neighborhood.

Orchestra Partners plans on bringing in boutiques, restaurants and bars to the ground-floor retail space.   

The community boasts 47 condominium units ranging in size from 289 square feet micro-units to 2-bedroom/2-bath residences of 994 square feet.  Nearly half have been pre-sold.  

Russ Holland

Prices range from $99,000 to $329,900 and the developer will arrange financing on purchases up to 100 percent of the cost. 

All of the units will feature historic elements and building materials with modern finishes. Residents will have views of either the Morris Avenue, 1^st Street or a courtyard and have access to a terrace that overlooks a pedestrian plaza.

“Based on the success our borrower had with their first residential building in the area, we anticipate they will hit another home run with Mercantile on Morris,” said Forman.

 “It’s a quality project in a popular part of the downtown. It’s priced right for working professionals in the central business district who desire a live, work, play lifestyle.”

CONTACT:

  

Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

ekalis@boardroompr.com

O 954-370-8999

C 954-290-0810

www.trezforman.com.

RKW RESIDENTIAL Represents Prestigious Assignment at LeFrak and Turnberry’s Shoreline at Solé Mia; Generates Significant Leasing Activity

Shoreline at Solé Mia in North Miami

Miami, FL — RKW RESIDENTIAL, a leading multifamily property management company, continues its expansion in South Florida with a signature asset: Shoreline at Solé Mia in North Miami.

The two-building, 397-unit community is part of LeFrak and Turnberry’s transformative Solé Mia mixed-use project.

 The Shoreline is the first property RKW has managed and leased for the prolific developers. More than 80 percent of the newly completed East Tower is already leased in just a few months.

Johnny De La Espriella

 A $4 billion development on 184 acres at 15055 Biscayne Blvd., Solé Mia is one of South Florida’s most anticipated mixed-use developments. It features a seven-acre swimmable lagoon designed by Crystal Lagoons.

 The lagoon, which is the first of its kind in Florida, recently opened and is already extremely popular with residents.

 “It is an honor to embark on this new partnership with LeFrak, Turnberry and the entire team at SoléMia,” said Johnny De La Espriella, regional vice president of RKW.

“Shoreline is a crown jewel for our growing South Florida portfolio. We look forward to continuing our successful lease-up of both towers.”

 Apartments at Shoreline range from 600 to 1,300 square feet, with a mix of studio, one, two and three-bedroom units. Interior features include floor-to-ceiling windows, stainless steel appliances and balconies with glass amenities.

Shoreline also offers an array of amenities, such as a pool deck with a spa and cabanas, a fitness center with Peloton bikes, a yoga studio with Fitness on Demand, outdoor dining and grilling areas, a pet grooming station, game room, business center, fitness trail, club room, 24/7 concierge and electric car charging stations.

Mario Gaztambide

 Renowned architect Arquitectonica designed the buildings.

 “Our working relationship with RKW is off to a fantastic start,” said Mario Gaztambide, senior managing director, residential properties at LeFrak. “Collectively, we are all so excited to see our residents enjoy the unparalleled lifestyle at Shoreline.”

 For RKW, The Shoreline assignment folds into first quarter of 2019 in which the company added more than 1,700 units in North Carolina and South Florida to its portfolio.

 In May, the Charlotte Business Journal recognized RKW in its annual list of the largest property management companies in the area for the second consecutive year. The company moved up five spots to No. 7 in the 2019 edition.

 The company was also recognized by South Florida’s Daily Business Review as the top multifamily property management firm of 2018 in the publication’s annual “Best Of” rankings.

 CONTACT:

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999

C 305-794-5123

www.rkwresidential.com

Arbor Funds $101.6 Million Bridge Portfolio in Birmingham, AL

  

Joseph Charneski

                                     

UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge portfolio in Birmingham, AL. 

The Contour Development Portfolio consists of two properties: The Park at Callington and Carlyle Apartments, and The Park at Buckingham.

The Contour Development Portfolio consists of two properties: The Park at Callington and Carlyle Apartments, and The Park at Buckingham

The Park at Callington and Carlyle, a 1,233-unit multifamily property, received $63.2M in funding through the program while The Park at Buckingham, a 583-unit multifamily property, received $38.4M.

Joseph Charneski of Arbor’s New York City office originated the loan.

The Park at Callington and Carlyle, built in 1978, offers spacious apartments featuring walk-in closets, private balconies, plantation blinds and ornamental chair rails. The property offers three swimming pools, a fitness center, illuminated volleyball and tennis courts, a playground and an on-site coffee bar.

The Park at Buckingham was built in 1972 and fully renovated in 2007. This gated community features many outdoor amenities including a cyber café, pools, a playground, and lighted tennis and volleyball courts.

Contact:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

JLL secures $200.6 million credit facility for Texas industrial portfolio

Welcome Wilson, Jr.

HOUSTON, TX, Aug. 8, 2019 – JLL announced today that it has arranged a $200.6 million credit facility for a portfolio comprising 18 single-tenant industrial properties totaling 1.7 million square feet in Houston, Dallas, Austin and San Antonio, Texas.

JLL worked on behalf of the borrower, Welcome Group, LLC, represented by Welcome Wilson, Jr., President and CEO, and Ralph Fite, Director of Finance, to place the $200.6 million, seven-year credit facility with Global Atlantic Financial Group.

Ralph Fite

The Class A industrial portfolio is fully leased. Thirteen of the assets are in Houston industrial markets, with two each in Austin and Dallas markets and one property in San Antonio. 

Borrower’s legal counsel consisted of Bill Boyar, Alex Parker and Cyrus Chin of BoyarMiller. 

The lender’s legal representatives were David Curfman and Tai Palacio of Brownstein Hyatt Farber Schreck.

The JLL Capital Markets team representing the borrower was led by Managing Director Tyler Ford and Analyst Tolu Akindele.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

Bill Boyar

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

 The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Tai Palacio

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

Tolu Akindele

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019.

About Welcome Group, LLC

Welcome Group specializes in single-tenant office, lab, industrial and manufacturing facilities and offers build to suit and design build services. To learn more, visit http://www.welcomegroup.com.

Alex Parker

About Global Atlantic:

Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. 

Cyrus Chin 

A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs.

Global Atlantic was founded at Goldman Sachs in 2004 and separated as an independent company in 2013.

 Its success is driven by a unique heritage that combines deep product and distribution knowledge with leading investment and risk management, alongside a strong financial foundation of $80 billion in assets.

David Curfman 

About JLL:

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. 

In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Contacts: 

Tyler Ford, JLL Managing Director

Phone: +1 713 852 3420

Email: tyler.ford@am.jll.com

Kimberly Steele, JLL Digital Content/PR Specialist

Phone: +1 713 852 3420

Email: Kimberly.Steele@am.jll.com

Stos Partners Acquires Two Southern California Assets Encompassing 97,734 SF for a Total $13.9 Million

A 27,510 SF vacant industrial building at 8330 Arjons Drive in Miramar, CA

CARLSBAD, CA and MIRAMAR CA  – Stos Partners, a privately held commercial real estate investment and management firm, in a new joint venture with Boston-based private equity firm Long Wharf Capital, has acquired two industrial assets, including a 70,224 square-foot property in Carlsbad, California and a 27,510 square-foot property in Miramar, California for a total consideration of $13.9 million.

CJ Stos

“These acquisitions speak to the continued strength of our investment strategy, through which we are successfully identifying and acquiring well-located properties, even in this ever-tightening market,” says CJ Stos, Principal of Stos Partners.

“Based on our track record as one of the most active buyers of value-add industrial, office, and flex properties in the Southern California region, we are fortunate to continue to draw upon strong local broker relationships and our surety of close to source investments poised for deep value creation.”

The firm’s recent acquisitions include:

Stos Acquires 100 Percent Leased Asset in Carlsbad:

Stos Partners has acquired a 70,224 square-foot industrial property in Carlsbad, California for $9.7 million from a private seller. The building is currently 100 percent occupied by a go-kart racing tenant with an existing lease in place.

Jay Boyle

“This was an off-market transaction sourced through a close broker relationship, purchased at an attractive basis with above-market yield,” explains Jay Boyle, Executive Vice President at Stos Partners.

 “The property provides a unique combination of secure in-place cash flow with flexible strategies to create future value driven by strong property-level attributes that will make this a highly functional asset for current or other industrial uses in the future.”

Boyle notes that the property has the right low-finish mix of office and warehouse space, as well as grade and dock high loading positions – all of which will contribute to its future marketability.

Rusty Williams

 Situated in close proximity to Carlsbad’s McClellan–Palomar Airport, the property is located at 6212 Corte Del Abeto in Carlsbad, California.

Rusty Williams and Chris Roth of Lee & Associates and Tres Reid at CBRE represented Stos Partners as the buyer in the transaction.

Stos Acquires Vacant Value-Add Asset in Miramar:

Stos Partners has acquired a 27,510 square-foot vacant industrial building located in Miramar, California for $4.2 million from a private investor.

Chris Roth

The property, which had initially been in escrow with another buyer, had been historically challenging to sell based on its previous build-out and need for extensive capital upgrades.

“This is a vacant property with significant deferred maintenance, situated in a market our team knows very well,” says Jason Richards, Partner at Stos Partners, who confirmed that Stos owns 14 properties in Miramar.

“While many other owner-operators were stalled by the property’s condition, our team immediately recognized the opportunity to create value based on the location in the heart of the Miramar submarket as well as the lack of competitive free-standing industrial buildings in the region,” says Richards.

Jason Richards

 “Utilizing our proven renovation and repositioning strategies, we will create value in the asset through substantial interior and exterior upgrades.

"Upon completion, we will implement a proactive lease-up or owner/user sale strategy.”

Planned improvements include a new roof, façade, parking lot upgrades, updated landscape plan and interior renovations.

Jason Smithson from NAI represented the seller in the acquisition.

The property is located at 8330 Arjons Drive in Miramar, California.

CONTACTS:

Micaela Fehrenbach / Jenn Quader

Brower Group

(949) 438-6262

mfehrenbach@brower-group.com

www.stospartners.com

www.longwharf.com

Ware Malcomb Announces Completion of Golden State Foods Customer Experience Test Kitchen and Innovation Center in Chicago, IL

Dawn Riegel

CHICAGO, IL, Aug, 7, 2019 – Ware Malcomb, an award-winning international design firm, today announced construction is complete on the new gsf Innovation Center located at 322 South Green Street in the West Loop neighborhood of Chicago. 

Ware Malcomb provided interior architecture and design services for the project. The project has been awarded the People’s Choice Award in the 7^th Annual IIDA Illinois RED Awards program, which honors projects for their exemplary design and innovation. 

Founded in 1947, Golden State Foods is one of the largest diversified suppliers to the food service industry. The company’s new Innovation Center serves as a place to gather and experience Golden State Foods’ products. 

The 4,300 square foot space includes a test kitchen, culinary research & development lab, and creative office space including a work lounge, conference rooms, and touch-down hoteling areas – all in an open loft environment. 

Inspired by the energy of its West Loop location, the design team implemented a concept called “The Chicago Kitchen Table” to bring the project to life. 

Like the kitchen table of a home, the space is designed to serve as the heart and soul that connects Golden State Foods’ products and their restaurant partners. Classic, timeless materials were utilized throughout the space including wood, glass, brick, black iron and concrete.

“Our goal was to create a space that fuses Chicago’s West Loop neighborhood culture with Golden State Foods’ trusted, global brand,” said Dawn Riegel, Director, Interior Architecture & Design of Ware Malcomb’s Chicago and Oak Brook offices. 

 “It was important to combine a hospitality feel with a world-class culinary and office space that reflects the innovation and values of Golden State Foods.”

The General Contractor for the project was Summit Design + Build.

CONTACTS:

Rachel Reenders

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Kelly Teenor, Director, Marketing, 949.660.9128, kteenor@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com

waremalcomb.com/news 

 Design Highlights video at 

youtube.com/waremalcomb.