RMK Management Corp. Receives Four Awards at the Chicagoland Apartment Marketing and Management Excellence (CAMME) Awards

RMK Management Corporation received a 2019 CAMME for property excellence at The Residences of Addison & Clark, Lakeview neighborhood, Chicago, IL

CHICAGO, IL – Chicago-based RMK Management Corp. was the recipient of four Chicagoland Apartment Marketing and Management Excellence (CAMME) awards at the 26^th annual CAMME Awards ceremony held on Oct. 18, 2019, at Chicago Marriott Downtown Magnificent Mile.

The Residences at Addison & Clark CAMME Awards: from left---Jose Dominguez, Jorgen Davidson, Todd Dluzniewski, Kevin Hegarty, Alejandro Barajas

 Presented by the Chicagoland Apartment Association, the CAMMEs recognizes excellence and honors companies and professionals that have made significant contributions to, or achieved excellence in, the multifamily housing industry. RMK was honored in multiple categories including maintenance and property excellence.

Williams Reserve CAMME Awards: From left, Saul Diaz, Bob Belpedio, Angela Herman, Andrew Palmer, Chris Cupal

The Residences at Addison & Clark, a 148-unit mixed-use, Class A building that opened last year in Chicago’s Lakeview neighborhood was recognized for property excellence for a mid-rise/hi-rise built between 2013-2018 while Williams Reserve, a 320-unit clubhouse community in Palatine, was recognized for its maintenance team in the low-rise/garden category. 

Versailles on the Lakes CAMME Awards: From left, Gerardo Robles, Pedro Zavala, Kevin Reyes and Edward Daniel 

Additionally, two individuals from RMK-managed communities were recognized with CAMME awards, including Jose Dominguez at The Residences of Addison & Clark for chief engineer/maintenance supervisor in a mid-rise/high-rise building; and Pedro Zavala at Versailles on the Lakes in Schaumburg for chief engineer/maintenance supervisor in a low-rise/garden community. This is the first CAMME for Dominguez and the second for Zavala.

Anthony Rossi Sr.

“Our team members work diligently to provide best-in-class service to the residents at each community we manage and these awards are a testament to their hard work,” said Anthony Rossi, Sr., president of RMK Management Corp. “We are proud of all our team members and how they represent both RMK and the communities they serve.”

For more information on RMK Management Corp. and its portfolio of properties, please visit www.rmk.com. 

About RMK Management Corp.:

Chicago-based RMK Management Corp. manages 6,300 apartment homes in the Chicago, Indiana, Wisconsin, and Minnesota areas. The company’s portfolio spans a range of apartment types, from high-rise and mid-rise buildings to two- and three-story walk-up apartments, garden apartments and affordable housing.

 RMK also develops, builds and renovates communities. The Illinois communities are located in Waukegan, Palatine, Schaumburg, Aurora, Naperville, Downers Grove, Oakbrook Terrace, Evanston, Wilmette, Chicago, Elgin, Clarendon Hills and Itasca.

Communities in Minnesota are located in Minneapolis and Edina, and the Indiana community is located in Indianapolis. There is also a community in Madison, Wisconsin.

CONTACTS:

 Robin Plous, rplous@taylorjohnson.com, (312) 267-4512Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Easton & Associates Represents Buyer of Two Medical Office Buildings in Miami-Dade County, FL

5966 South Dixie Highway, South Miami, FL, sold for $18.55 million. It has 50,600 SF of medical office and retail space

Doral, FL, Nov. 4, 2019 –  Doral-based Easton & Associates represented ShareMD, a Southern California-based real estate investment company, in the acquisition of two medical office buildings in Coral Gables and South Miami. 

  Easton Vice President Elliot LaBreche identified both buildings and negotiated prices on behalf of the buyer.

 Elliot LaBreche

The first building, located at 5966 South Dixie Highway in South Miami, sold for $18.55 million. It has 50,600 square feet of medical office and retail.  Built in 2016, the building is just over 71% leased with healthcare-related tenants. 

The Biltmore Professional Building, located at 475 Biltmore Way in Coral Gables, sold for $14.602 million.  Built in 1960, it has 56,000 square feet of medical office and is 83% occupied.

Leonard Boord

Both properties were sold by Miami investor Leonard Boord, founder of Slon Capital.  The new ownership has hired Easton to handle leasing going forward.

“We are excited to enter the Florida market with these acquisitions, “said George Scopetta, president and managing partner of ShareMD. “These buildings are ideally located to roll out our co-sharing medical suite concept, ShareMD.”  

ShareMD is a private-equity backed real estate fund that specializes in investing in medical office properties.  The two Dade acquisitions are the first for the group outside of California.

  LaBreche said the company plans to target value-add medical office buildings in key metropolitan markets across the United States.

LaBreche, an office specialist at Easton & Associates, said demographic forces, insurance companies favoring outpatient care and a limited pipeline for new supply point to positive absorption and rent appreciation for medical office assets.

George Scopetta

“Institutional real estate investors are looking to acquire medical office buildings as demographic trends lead to increased need for medical services,” he said.

“The U.S. spends $3.2 trillion in healthcare today and that expenditure is anticipated to grow to $6 Trillion in just 6 years.  The increase in healthcare spend will have a direct impact on medical office demand.”

Media Contact:

Todd Templin

BoardroomPR

ttemplin@boardroompr.com

954-370-8999/954-290-0810

www.theeastongroup.com

NAI Hiffman Completes 154,000-SF Industrial Lease, Filling Warehouse in Bloomingdale, IL

Bloomingdale Corporate Center, Bloomingdale, IL

OAKBROOK TERRACE, IL, Nov. 4, 2019 — NAI Hiffman, the largest independent real estate services firm in the Midwest, today announced it represented Target Marketing Systems in a 154,000-square-foot lease at 270 Madsen Drive in the Bloomingdale Corporate Center, an industrial business park in Bloomingdale, Ill.

The company, an importer and wholesale distributor of furniture products, will expand and relocate its U.S. headquarters to the building, vacating its current 101,000-square-foot space in nearby Carol Stream.

Mark Moran

Mark Moran, executive vice president of NAI Hiffman, represented Target Marketing Systems in the transaction, which fills the entire property. Jones Lang LaSalle represented the owner, Barings Real Estate Advisers.

           

“Target Marketing Systems sought a second, overflow location, but after we completed a comprehensive review of its business operations, we advised the company of the cost savings and efficiencies gained by a complete relocation and expansion into one new space at Bloomingdale Corporate Center,” said Moran.

 “The scheduled tariff increases are a major concern for our distributor clients that are importing goods from China, so part of our strategy is to help them offset future expenses with long-term planning that streamlines operations to save money.”

 CONTACTS:

 Patty Cronin, pcronin@taylorjohnson.com, (312) 267-4513

Gretchen Muller, gmuller@taylorjohnson.com, (312) 952-4802

www.hiffman.com

First Release of Luxury Residences at The Village at Tamarack in Tamarack, Idaho

The Village at Tamarack signage

TAMARACK, Idaho, Nov. 4, 2019  – Tamarack Resort today announced the public release of its first luxury residences in The Village at Tamarack, the epitome of ski-in/ski-out living at the newest mountain village in the west. 

In celebration of the opening of the ski mountain and the new Wildwood chairlift, The Village is offering a First In Program to early buyers through December 15 that includes preferred pricing and a family season ski pass.  

 Kyle A. Mowitz

“The anticipation for The Village residences has been building over the summer and fall as the heart of the resort nears completion,” said Kyle Mowitz, Tamarack Resort managing partner.

 “We were pleased to see the support from our current residents who were offered the opportunity to purchase prior to the public release. 

"With construction nearly complete for Phase I, our newest homeowners will be able to start enjoying their residences this ski

season.”

At the base of the mountain, The Village at Tamarack features six buildings surrounding a center plaza with a total of 47,000 square feet of commercial space for restaurants, coffee shops, wine bars and a market, as well as guest services, resort operations and a real estate office. Heated, underground parking is located under the entire property.

The 56 Phase 1 luxury condominium residences scheduled for completion winter 2019/2020 range from 480-square-foot studios to 2,427-square-foot three-bedroom penthouses. Prices begin at $349,000 for the fully furnished properties.

The Village at Tamarack Residences are offered by Tamarack Realty, the resort’s exclusive on-site brokerage. To schedule a Hard Hat Tour contact Tamarack Realty at 208.325.1001 or RealEstate@TamarackRealty.com or, visit https://villageattamarack.com.

Media Contact:

Gloria Miller

208-310-6740

www.tamarackidaho.com

gloriamiller@redskypr.com

Voit Real Estate Services and Lee & Associates Direct the $7.78 Million Lease of a 156,694-SF Industrial Building in Redlands, CA

156,694-SF industrial building, Redlands, CA

Redlands, CA, Nov. 4, 2019 – Voit Real Estate Services is proud to announce that Walt Chenoweth, Executive Vice President & Partner, in the Voit Ontario office and Herrick Johnson, Senior Vice President with Lee & Associates in Riverside, successfully directed the $7,780,288 lease of a 156,694 square-foot industrial building in Redlands, on behalf of the Owner, Cabot Properties, based out of Boston, MA.

Walt Chenoweth

The Tenant, TrakMotive, based out of Redlands, will use this property to expand their automotive parts business, according to Chenoweth.  

“Walt and I worked hard to bring forth a lease opportunity for our client prior to the completion of the building’s construction,” according to Johnson.  “We are pleased we were able to accomplish this task approximately 30 days prior to completion for our client Cabot Properties.”

The property is located at 1675 W. Park Avenue in Redlands.

About Voit Real Estate Services

Voit Real Estate Services is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients' needs.
 

Herrick Johnson

Throughout its 45+ year history, the firm has developed, managed and acquired more than 64 million square feet, managed $1.4 billion in construction projects and completed in excess of $50 billion in brokerage transactions encompassing more than 47,500 brokerage deals. 

Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios.

 Further information is available at www.voitco.com.  

 Contacts:

Walt Chenoweth

Voit Real Estate Services
909-545-8007
wchenoweth@voitco.com

Jessamyn J. Wilkinson | Director of Marketing

Voit Real Estate Services

2020 Main Street, Suite 100 | Irvine, CA 92614

T (949) 263-5314 | C (949) 929-7147

jwilkinson@voitco.com | www.voitco.com

Voit Real Estate Services, Broker License # 01991785

Historic California Home Is Also America’s Most Expensive on the Block in Bel Air for $225 Million

                                   

This 40,000-SF, 60-room Bel Air, CA Mansion is listed for $225 Million, believed to be the most expensive property of its kind currently in the United States, according to TopTenRealEstateDeals.com

                                Photo credit: Simon Berlyn

Source: www.hiltonhyland.com

BEL AIR, LOS ANGELES, CA -- The most expensive home currently for sale in the United States was built in 1936 in a then-new Los Angeles suburb developed by a local tennis-player-turned-developer, Alphonzo Bell, intended for his rich clients and friends. 

Alphonzo Bell Sr.

In 1923, Bell had paid $6 million for the 22,000 acres that became Bel Air. He thought that Bel Air’s hills and views would be a selling point for the expensive lots that would sell for up to $30,000. Bell envisioned something similar to Beverly Hills for his new neighborhood, but without the Hollywood celebrities, and named it as an anagram for his own name.

Hilda Boldt Weber
(Photo by Michael Gross)

The home was originally constructed for Hilda Boldt Weber, an heiress to the Charles Boldt Glass Company. By the time it was built, Hilda was already a widow and thought owning the massive mansion would be her entre into Los Angeles’ high society. 
To her surprise and disappointment, instead she was shunned. Though not the first to try and buy their way into society, she lacked the sense and financial management skills to retain her wealth and instead managed to gamble it away until she could no longer maintain the mansion. 

Conrad Hilton Sr.

In 1950, hotelier Conrad Hilton bought the home from Weber for $235,000. Since then, the estate has undergone extensive changes, additions and improvements by the Hiltons and its current owner, investor and philanthropist Gary Winnick, who purchased it in 2000 for $94 million. 

Nineteen years later and with a total redo by designer Peter Marino, it is once again on the market priced at $225 million, or one one-thousandth of the price Hilton paid in 1950.

Sited on a promontory of 8.4 acres insulated from neighbors and with stunning views, the 40,000-square-foot, 60-room mansion was created by James Dolena and the interiors and furniture were done by T. H. Robsjohn-Gibbings - two of the 1930’s-era top designers to the stars.

Gary Winnick

 In recent years, Marino and his team of 250 craftsmen have been restoring the mansion to what has been called a museum-quality restoration. 

The gated grounds include a long drive through lush landscaping and entry into a grand hall with 18-foot ceilings that opens into a large reception room branching off into formal living and dining areas, a grand ballroom and piano room.

Peter Marino

The second floor has private and guest living accommodations and no shortage of rooms devoted to entertaining or for housing guests. 

The grounds contain a pool house with professional screening room and formal bar, lighted tennis courts, separate basketball court, a full guest house along with multiple greenhouses, and koi ponds.

Shawn Elliott

Located next to the Bel-Air Country Club, which was also built by Alphonzo Bell, it is currently the most expensive home in the United States at $225 million. 

The home is listed by Jeff Hyland and Rick Hilton (grandson of Conrad Hilton) of Hilton & Hyland, Beverly Hills and Shawn Elliott of Elite Real Estate Marketing.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

KBS announces the transition of certain funds to focus solely on core assets

Charles J. (Chuck) Schreiber Jr.

NEWPORT BEACH, CA  – KBS, one of the largest owners of prime commercial real estate in the nation, has announced the transfer of the management of “Strategic Opportunity REIT I, Strategic Opportunity REIT II and Keppel Pacific Oak US REIT,” three real estate investment trusts (REITs) comprising 40 investments to Pacific Oak Capital Advisors LLC.

The decision allows KBS to focus on its core asset portfolios, while Pacific Oak focuses primarily on the opportunistic portfolios, according to KBS CEO Chuck J. Schreiber, Jr.

“When we launched the first opportunistic REIT in 2009, there was a clear and distinct opportunity to capitalize on the dislocation, lack of liquidity, and government intervention that existed in the commercial real estate markets at the time,” says Schreiber. 

“The Strategic Opportunity REIT continues to execute on its business plan focusing on opportunistic investments and adding value for its shareholders.”

KBS invests and manages commercial real estate assets on behalf of large institutions, such as public and private pension plans, sovereign wealth funds and public non-traded investment trusts. KBS also serves as the US asset manager for Singapore-based Prime US REIT.

“KBS’ strategy focuses on investments in urban markets that are attracting tech and creative users and have a wide range of amenities that help companies attract today’s top-tier talent. These include markets with good public transportation as well as entertainment, housing and dining amenities,” says Schreiber.

KBS is working closely with Pacific Oak Capital Advisors LLC to ensure a smooth transition of advisory services for Strategic Opportunity REIT I, Strategic Opportunity REIT II and the Keppel Pacific Oak US REIT effective October 31, 2019.  

The asset management team that manages the opportunistic portfolios will transition to Pacific Oak Capital Advisors LLC and continue to manage the same portfolios. 

KBS Media Contacts:

Jenn Quader or Lexi Astfalk

Brower Group

949-438-6262

jquader@brower-group.com

Ginny Walker

KBS Public Relations Manager

949-417-6535

gwalker@kbs.com

 www.kbs.com.

JLL brokers Phoenix market entry for Power Home Remodeling

Keith Lammersen

TEMPE, AZ – On behalf of Philadelphia-based Power Home Remodeling (Power) the Phoenix office of JLL has completed a full building acquisition that marks Power’s official entry into the Phoenix market.

 The location will generate approximately 200 new local jobs from the leading remodeling company, recognized as one of Fortune’s 100 Best Companies to Work For in 2019.

JLL Executive Vice President Keith Lammersen and Managing Director Brad Crosley represented Power Home Remodeling in the building acquisition. Bob Kling of Lee & Associates represented the building seller, Rankin LLC.

“Arizona is the perfect location for Power to continue to grow and expand into the western parts of the United States,” said Power Home Remodeling Co-Founder Adam Kaliner. 

“Where we go next is ultimately up to our employees, as they drive our expansion strategy. They are thrilled to be able to relocate to this new city, build relationships with the community and introduce Power to homeowners.”

Brad Crosley

The new Power location totals 35,665 square feet at 8240 S. Hardy Dr. in Tempe, Arizona, near Elliot and Priest roads and within the Warner Crossing business complex. 

The company is expected to move into its new space in the first quarter of 2020, establishing its 17^th U.S. sales and support territory.

“Power Home Remodeling is making a notable, long-term investment in Arizona,” said Lammersen. 

“They’ve picked a location with the configuration, parking and employment demographics to support their growth plans and to continue to thrive in our market. It was a pleasure to assist them with that process.”

Bob Kling 

The new Power building is less than two miles from Interstate 10 and minutes from the Loop 101, Loop 202, US 60 Superstition Freeway and Sky Harbor International Airport. 

It is also surrounded by major retail and restaurant amenities, globally recognized corporate neighbors and abundant residential and multifamily housing.

For information on open positions at the Power Home Remodeling Phoenix location, visit workatpower.com.

About Power Home Remodeling:

Power Home Remodeling is a dream realization company — believing its purpose is to create positive change in everything the company touches — from customers’ homes to employees’ lives to the communities they live and work in. 

Power realizes this purpose by being people-first. Its employees and customers come before profit and their well-being factors into every business decision. 

Adam Kaliner

Established in 1992, Power is the nation’s largest, full-service, exterior home remodeler with more than 2,700 employees, 500,000 customers and $700 million in annual revenue. 

Headquartered in the Philadelphia region, Power’s primary product line includes windows, siding, roofing, doors, solar roofing panels, and attic insulation, providing energy-saving solutions to residents across its operating territories.

Those territories include Colorado, Connecticut, Delaware, Florida, Georgia, Indiana, Illinois, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, Washington D.C. and Wisconsin.

Contact: 

Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

Iwww.jll.com