Cushman & Wakefield Arranges $61 million Sale of The Barrington of Carmel in Carmel, IN

Rendering of The Barrington of Carmel, a 267-unit, entrance-fee continuing care retirement community (CCRC) in Carmel, IN

Allen McMurtry

INDIANAPOLIS, IN — Cushman & Wakefield has negotiated the sale of The Barrington of Carmel, a 267-unit, entrance-fee continuing care retirement community (CCRC) in the Indianapolis suburb of Carmel, one of the wealthiest and fastest-growing cities in the Midwest.

The Tampa-based Cushman & Wakefield Senior Housing team of Allen McMurtry, David Kliewer and Paul Carr represented an affiliate of Addison, Texas-based Senior Quality Lifestyles Corporation (SQLC) in the disposition.

Prairie Landing Community, Inc., an affiliate of Indianapolis-based BHI Senior Living, acquired the asset for $61 million ($228,464 per unit) through a bankruptcy sale process.

David Kliewer

The Barrington of Carmel is a ±372,000-square-foot campus comprising 137 independent living apartments, 56 assisted living units, 26 memory care units and 48 skilled nursing beds. Independent living units average ±1,095 square feet.

As part of the sale, the buyer will honor the obligations of the residents’ life care contracts.

The property is a trophy asset featuring high-end interior finishes, interconnected buildings, main and private dining rooms, a café, a salon, a fitness center, multiple activity rooms, underground parking, a natural wooded setting and walking trails.

The Barrington of Carmel was developed in 2013 on a ±19.5-acre site at 1335 South Guilford Rd. The site can accommodate the development of up to 25 additional independent living units and a pool.

Paul Carr

“The Barrington is a Class A campus situated in one of the most desirable submarkets in the Midwest,” said Kliewer. 

“BHI Senior Living was uniquely positioned to acquire the property due to their deep knowledge of the market and experience with the entrance fee CCRC operating model.”

To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

Contact:

David A. Meyer
Meyer Media  
+ 1 407 489 7488
david@meyer.media

Tangram Appoints New Team Leaders in California for Newport Beach, Fresno and Bakersfield Offices

Kellie Reed

SANTA FE SPRINGS, CA, Sept. 12, 2019 – Tangram, a curator of highly creative commercial interior environments and workspaces, has announced the appointment of new team leaders for its offices in Newport Beach, Fresno and Bakersfield.

Kellie Reed, who has served as General Manager for the firm’s offices in Fresno and Bakersfield, will now assume responsibility as Sales Director, Orange County, for the Tangram office in Newport Beach. 

She will also serve as Director of the firm’s overall healthcare practice. Reed joined Tangram in 2012 after 13 years as a highly successful sales professional for a Fresno-area furniture dealership. 

Alyssa Armesto

During her tenure in the Fresno office, she led a tripling of sales volume for that location. Reed subsequently was appointed to lead the company’s office in Bakersfield when it opened in 2017. 

She sees strong opportunities for growth in Orange County across the board, as well as in the vibrant and growing healthcare market companywide.

Alison Hickman

In conjunction with that move, Alyssa Armesto will advance from her position as a sales executive in the firm’s Newport Beach location to assume the role of General Manager in Fresno. 

Armesto joined Tangram in 2012 and is looking forward to returning to her hometown in an expanded role with Tangram.

 Her focus will be on growing Tangram’s presence in the area by applying the company’s consultative, value-added approach to unleashing the potential of the workplace to build positive results for customers’ businesses.

 Joe Lozowski

Bakersfield will also see a new presence with Alison Hickman as Regional Manager. Hickman is a 15-year resident of Bakersfield and comes to Tangram following seven years as a successful local business owner with expertise including residential and commercial interior design. 

She anticipates applying her skills in identifying and optimizing the functional goals for spaces, while building strong relationships between the company and the community as the city undergoes a revitalization.

“It’s a very exciting time for three of our anchor offices serving Southern and Central California with the appointment of these highly professional individuals with proven capabilities for leadership of these teams,” said Tangram President and CEO Joe Lozowski. 

“We believe their backgrounds and talents are a perfect match for helping organizations in their respective locations achieve their unique goals for their workforce and future growth.”

CONTACT:

Rachel Devany

VP Public Relations

rachel@kcomm.com

949-443-9300

www.tangraminteriors.com.

JLL arranges $61 million financing for new Hyatt House hotel in Chicago

Hyatt House Fulton Market, a 200-room, newly constructed hotel
in Chicago’s Fulton Market District.

CHICAGO, IL, Sept. 12, 2019 – JLL announces that it has arranged a $61 million refinancing for Hyatt House Fulton Market, a 200-room, newly constructed hotel in Chicago’s Fulton Market District.

JLL worked on behalf of the borrower, a partnership between Sterling Bay and Wheelock Street Capital, to place the five-year, floating-rate loan with Argentic Real Estate Investments LLC. Loan proceeds will be used to retire the construction loan.

Hyatt House Fulton Market  includes an indoor rooftop pool with an outdoor patio, state-of-the-art fitness center

Hyatt House Fulton Market is the only extended-stay product in the market, the only branded hotel in Fulton Market and the first hotel to feature the brand’s newest design, which includes an indoor rooftop pool with an outdoor patio, state-of-the-art fitness center, 1,570 square feet of meeting space, 5,100 square feet of retail space, breakfast dining area, H Bar, lobby workstation and H Market. 

Nicole Aguiar

The hotel is situated at 105 N. May Street in the Fulton Market District, which was formerly the city’s meatpacking district and an area that has evolved into a dynamic, mixed-use area within the West Loop. 

The hotel is adjacent to the newly constructed 574,000-square-foot global headquarters for the world’s most renowned fast food company, which was also developed by the borrower.

 

Timothy Joyce

The JLL Capital Markets team representing the borrower was led by Managing Directors Timothy Joyce and Steven Klein and Director Nicole Aguiar. 

“This is a truly unique asset within Fulton Market with an unmatched competitive advantage throughout the greater Chicago market,” Aguiar said.

Steven Klein

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 (IL) LP. 

Contact: 

Kimberly Steele, JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: Kimberly.Steele@am.jll.com

 sterlingbay.com

 wheelockst.com

  jll.com.

Marcus & Millichap Brokers $2.7 Million Sale of 42-Unit Lexington Court Apartments in Tampa, FL

Luis Baez,

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Lexington Court, a 42-unit apartment property located in Tampa, FL, according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $2,730,000.

Luis Baez, CCIM, Miles Tombrink, Casey Babb, CCIM and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by the same brokers.

“Lexington Court provided investors an opportunity to obtain a stabilized asset in a class C submarket with a cash-on-cash return of over 12% on day one,” said Tombrink.

Casey Babb

 “Pairing this with our industry leading marketing capabilities, we were able to obtain six written offers within 45 days of marketing the property, before coming to terms with an out of area investor at 96.3% of list price,” added Baez.

Lexington Court is located at 11738 North 14th St in Tampa, Fla.  The property is a conventional 42-unit apartment community located in Hillsborough County situated on 2.46 acres.

 Lexington Court consists of 21 single-story buildings consisting of 29 one-bedroom/one-bathroom units each 525 square feet; 12 two-bedroom/one-bathroom units each 750 square feet; and one, two-bedroom/one-and-one-half-bathroom unit that is 770 square feet.

Shawn Rupp

 All 21 buildings are 1970's construction of concrete block with a painted stucco facade and a blend of pitched shingle and mansard roofs. All tenants have access to an on-site laundry facility and off-street parking. Residents are convenienced by the close proximity to an abundance of jobs and public transportation options giving them easy access to other parts of the Tampa metro. 

           Lexington Court is conveniently located one block north of Fowler Avenue, a major east-west thoroughfare providing access to major interstates and state highways.

 Situated just minutes from major employers and employment hubs, the property offers residents a central location with convenient access to many jobs.

Miles Tombrink

 Major points of interest in close proximity to Lexington Court include Busch Gardens and Adventure Island (2.11 miles and 3,000 employees), University of South Florida (1.94 miles and 16,000 employees) and University Mall (0.51 miles) which is undergoing a massive mixed-use repositioning and bringing in major national tenants.

 Located 0.57 miles from Lexington Court is Interstate 275, giving access to Downtown Tampa (60,000 employees and 15-minute drive) and Westshore Business District (94,000 employees and 20-minute drive).

CONTACT:

Chris Travis

Sales Manager, Tampa

(813) 387-4700

Marcus & Millichap Arranges $2 Million Sale of 9,026-SF Dollar General Site in Tampa, FL

TAMPA, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Dollar General, a 9,026-square foot net-leased property located in Tampa, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $2,262,000

Jim Shiebler

Jim Shiebler, James Garner, James Medefind and Daniel Hurd, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a private investor, was also secured and represented by the same brokers.

           “Our competitive process enabled our team to generate 4 offers within the first 10 days of marketing the property,"  says Mr. Shiebler.  "We harnessed the power of the competition that we created, which Marcus & Millichap is known for, with multiple buyers vying for the asset. 

James Garner

"We placed the property under contract within 20 days of activation and closed at more than 96% of list price” 

Dollar General is located at 12909 N 56th Street in Tampa, Fla.  Tampa has been highlighted nationally as one of the fastest growing markets in the country and nearby University of South Florida has expanded into the largest public university in the State of Florida with more than 50,000 enrolled students. 

           Built in 2014, this Dollar General is perfectly situated just one-half mile from the University of South Florida, which is located in the heart of Tampa. 

Positioned near the intersection of North 56th Street and Fowler Avenue, the daily traffic count exceeds 25,500. The subject property is surrounded by student housing and apartments totaling approximately 3,000 units within a one-mile radius. 

James Medefind 

           Dollar General has built an impressive track record of growth in which net sales rose 9.2 percent in 2018. 

This Dollar General includes over 15,000 stores in 44 states. Their continued growth and track record of success has earned Dollar General respect among some of the nation's largest financial institutions. 

           The Temple Terrace area of Tampa is one of the oldest and most established municipalities in Tampa Bay. 

With the University of South Florida as its northern boundary, Temple Terrace is a clean, diverse area with a median income of approximately $42,800 and a median home value of $152,000, making it affordable and convenient. 
           

Daniel Hurd

The city is strategically positioned between three major interstates: Interstate 4, Interstate 75, and Interstate 275.

 It is well-located near other municipalities and attractions including Busch Gardens, Adventure Island and the Museum of Science and Industry and downtown Tampa which is undergoing a $3 Billion-dollar expansion. 

The development in downtown Tampa is known as Water Street, which is expected to bring several hundred thousand residents to the Tampa Bay market over the next decade.

Contact:

 Chris Travis

Sales Manager, Tampa

(813) 387-4700

Chatham Lodging Announces Monthly Dividend

                                          WEST PALM BEACH, FL,  Sept,10, 2019—Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels and owns 135 hotels wholly or through joint ventures, today announced that its board of trustees has declared a monthly common share dividend of $0.11 for September 2019. 

The common dividend is payable October 25, 2019, to shareholders of record on September 30, 2019.

CONTACT:

PATRICK DALY

OFFICE MANAGER

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-300-8289

 patrick@dalygray.com | www.dalygray.com

chathamlodgingtrust.com.

JLL closes $13.5 million sale of Orlando outparcel pads

Starbucks Orlando, FL

ORLANDO, FL,  Sept. 11, 2019 – JLL announced today that it has closed the $13.5 million sale of three newly constructed, single-tenant retail pads occupied by Starbucks, LongHorn Steakhouse and Bahama Breeze in Orlando, Florida.

LongHorn Steakhouse, Orlando, FL

JLL marketed the properties on behalf of the seller, a partnership between North American Properties and institutional investors advised by J.P. Morgan Asset Management. Orion Real Estate Group purchased the assets.

Bahama Breeze Orlando, FL

The three buildings were constructed in 2018 and are net leased to three investment-grade credit tenants, Starbucks, LongHorn Steakhouse and Bahama Breeze. 

Brad Peterson

Starbucks is the only single-tenant Starbucks within a six-minute drive from Universal Orlando, and both LongHorn Steakhouse and Bahama Breeze are the only two restaurants within the Darden family of restaurants located in such close proximity to Universal Orlando. 

Situated at 5460, 5540 and 5620 W. Oak Ridge Road, the three outparcel pads are across the street from the Orlando International Premium Outlets, which welcomed 17 million annual visitors last year and is a top U.S. retail asset based on sales volumes. 

The assets are in the heart of Orlando’s Tourist Corridor, and Orlando welcomed a record 75 million visitors in 2018. The three outparcels are directly connected to theme parks via the new Grand National Drive overpass, a soon-to-be-access point for Interstate 4 Express Lanes that are under construction.

Whitaker Leonhardt

The JLL Capital Markets team that represented the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Director Michael Brewster along with Senior Managing Director Marc Mandel and Director Steve Schrenk.

“The outparcels at Grand National are located in the highest-grossing tourism market and one of the best retail trade areas in the United States,” Brewster said. 

“Since 2018, over a billion dollars of real estate investment has poured into the three-mile radius surrounding the assets, culminating in high-quality, institutional-caliber developments like the outparcels at Grand National.”

Michael Brewster 

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.

About North American Properties

Founded in 1954, North American Properties is a privately held, multi-regional real estate operating and development company that has acquired, developed and managed more than $7 billion of mixed-use, retail, multifamily and office properties across the United States. 

Marc Mandel 

Rooted in its purpose-driven approach to development, North American Properties is creating great places that connect people to each other; cities to their souls; partners to opportunities; and individuals to experiences that move them. 

Headquartered in Cincinnati, with offices in Atlanta, Dallas and Fort Myers, Florida, the company has developed 22 million square feet of commercial space and 19,000 residential units in 15 states and 67 cities. 

In the past three years, North American Properties has launched 36 projects totaling $2.2 billion in total capitalization. Visit naproperties.com to learn more.

About J.P. Morgan Asset Management

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. 

Steve Schrenk

With more than $148 billion in assets under management and 750 professionals (as of March 31, 2019), J.P. Morgan offers strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives and hedge funds. 

Operating from 18 offices throughout the Americas, Europe and Asia Pacific, the company’s independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives.

 For more information: please visit jpmorganassetmanagement.com

Contact: 

Kimberly Steele, JLL Digital Content/PR Specialist

Phone: +1 713 852-3420

Email: kimberly.steele@am.jll.com

  jll.com.

orionmiami.com.