Kenny Rogers Sang Love Songs and Flipped Mansions

Kenny Rogers' estate in Sandy Springs, GA

Source: www.toptenrealestatedeals.com

SANDY SPRINGS, GA --Kenny Rogers, who died on March 20,, did almost everything well. according to TopTenRealEstateDeals.com.

Kenny Rogers

He excelled in:

·        Singing (sold over 100 million records).

·        Acting, song writing.

·        Restaurateur (Kenny Rogers Roasters).

·        Businessman, author.

·        Charities (Kenny Rogers Children's Center)

·        Photography and athlete (famous for faking out and then scoring on Michael Jordan in a 1988 charity basketball game).

Dollly Parton

Kenny found early success in the music business as a Houston teen star singing his song That Crazy Feeling on Dick Clark’s American Bandstand.

Ellen DeGeneres

 Later joining the New Christy Minstrels and then the First Edition before going solo with giant hits such as The Gambler, Lady, and Islands in the Stream with Dolly Parton, Kenny's career soared as one of the world’s favorite country-pop singers.

Meg Ryan 

In addition to his music, acting and business work, Kenny was especially good at real estate.

 Before celebrity home flippers Ellen DeGeneres, Meg Ryan and Diane Keaton, there was Kenny Rogers - celebrities who entertained us and flipped homes on the side.

Diane Keaton

Always with lots of energy while performing, Kenny segued into buying, renovating and selling big homes with good bones in upscale neighborhoods.

He posted a good profit in the early 1980s, selling his first flip in 1984 in Beverly Hills for $20 million - a record price for Los Angeles at the time.

Wanda Miller Rogers and husband Kenny Rogers

Since then, most of his homes have been in the Atlanta area where he also started an interior design business that catered to Atlanta’s richest home owners.

After his Beverly Hills flip, Rogers bought a bank-owned, 27,000-square-foot Atlanta home in 2002 that had been on the market at $12 million for just $2.75 million, and sold it in 2006 for $8.5 million.

                                              Michael Jordan

Just outside of Athens, Georgia, Rogers built the almost 1,000-acre Beaver Dam Farm which he later sold in 2011 for $10.5 million.

 In 2009, Rogers paid $2.8 million for a home in Atlanta’s ritzy Tuxedo Park that was listed at almost $8 million. He sold it elegantly furnished in a down market in 2011 for $3.725 million.

Most recently, Rogers bought and then spent over $3 million to redesign and decorate a 7,000-square-foot suburban Atlanta family home when his twin sons were only four years old and needed plenty of space to play.

 Kenny was married five times but married to his current wife, Wanda, and twins’ mother since 1997).

Rogers died at the current family home, surrounded by his wife and children.

CONTACT:

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

JLL secures $69.5 million refinancing for three-building office portfolio in Downtown Boulder, CO

One Boulder Plaza, a three-building, Class A office portfolio totaling 234,000 square feet in Downtown Boulder, CO

DENVER,CO – JLL Capital Markets announced it has arranged a $69.5 million refinancing for One Boulder Plaza, a three-building, Class A office portfolio totaling 234,000 square feet in Downtown Boulder, Colorado.

JLL worked on behalf of the borrower, The WW Reynolds Companies, to secure the five-year, non-recourse, permanent financing through a national bank.

 Leon McBroom 

One Boulder Plaza is located at 1800 Broadway, 1801 13^th Street and 1301 Canyon Boulevard in Downtown Boulder. The three adjacent properties are positioned along Boulder’s main thoroughfares and are directly across from the Downtown Boulder RTD station providing tenants with connectivity throughout Downtown Boulder and the Denver Metro. 

Additionally, One Boulder Plaza is just one block from the historic Pearl Street Mall, one of America’s most famous pedestrian malls, and is close to numerous restaurants, shopping, entertainment, city parks and the University of Colorado campus. 

The three- and four-story properties feature two underground parking facilities for more than 300 vehicles and ground floor retail in two of the buildings. 

Overall, One Boulder Plaza is 97.1% leased to 24 tenants spanning the law, consulting, financial services and food and beverage industries. 

 Eric Tupler

The JLL Capital Markets team representing the borrower was led by Senior Director Leon McBroom and Senior Managing Director Eric Tupler.

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

About JLL:

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

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. 
                                                          

Contact: 

Kristen Murphy
JLL Senior Manager
 Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

 jll.com.

Nova Capital Secures $27 Million in Acquisition Financing for 255-Unit Class A Multifamily Community in Dallas, TX

Gold Creek Apartments is a 255-unit Class A multifamily property at 704 Dale Lane in the Dallas, TX suburb of White Settlement, TX

DALLAS, TX, March 23, 2020 – Nova Capital, a Los Angeles-based real estate capital advisory firm, has secured $27.385 million in debt and equity financing on behalf of Darwin German Real Estate, a full service real estate investment firm that specializes in multifamily investments, for the acquisition of Gold Creek Apartments, a 255-unit Class A multifamily property in Dallas, Texas.

 Steven Yazdani

The financing, arranged by Nova Capital Managing Director and Founder, Steven Yazdani, comprises a $21.385 million senior loan and $6 million in equity.

“Lender appetite for multifamily product remains strong, especially in high-growth markets such as Dallas Fort-Worth,” says Yazdani, who notes that the DFW metroplex is leading the nation in job growth for its third consecutive year, with 127,600 new jobs added in 2019.

“The challenge in this market is not availability of capital – it’s achieving the right flexibility in terms and structure,” Yazdani continues. 

“In this case, Darwin German – a long-time Nova Capital client with whom we have a strong, trusted relationship – is an experienced owner that is nimble and responsive, with a clear business plan focused on value-add and yield-based investment opportunities. 

"By identifying multiple sources of debt and equity, the Nova Capital team was ultimately able to create a capital stack that met each of the client’s needs for this acquisition.”

Nova Capital sourced the senior loan from one of the largest Freddie Mac DUS lenders in the U.S.; the equity was provided by an internally managed real estate investment trust.

Built in 2016, Gold Creek Apartments is 97% occupied and is situated on an 11.671-acre parcel in the economic and cultural hub of North Texas.

 Darwin German

“As specialists in the Dallas/Fort Worth Metroplex since 1991 and owners of more than 2,100 units in the region, our team immediately recognized the value in acquiring this well-located, stabilized asset on behalf of our investors,” says Darwin German, President of Darwin German Real Estate. 

“Driven by robust fundamentals, the DFW region is already home to three of the 10 largest U.S. companies (Exxon, AT&T, and McKesson), while major tech firms such as Uber and Salesforce are continually increasing their investments in the area. 

"This corporate growth, coupled with the high quality of life here in Dallas has made Texas – and specifically North Texas – one of the most popular destinations for interstate moves in the country.”

German notes that Gold Creek Apartments is well-positioned to benefit from rising renter demand as a result of this exponential growth.

Located at 704 Dale Lane in White Settlement, TX, the gated apartment community offers a mix of one- and two-bedroom floor plans with a host of modern amenities, including collaborative BBQ/picnic areas, a business center, dog park, fitness area, and sundeck.

Contacts:

Lisa James / Jenn Quader

Brower Group

(949) 438-6262

ljames@brower-group.com

 www.novacapital.com.

KBS Brokers 51,011 SF in new leases at Class A Office Plaza in Northern New Jersey

Woodbridge Corporate Plaza

ISELIN, NJ – KBS, one of the largest investors in premier commercial real estate in the nation, announced  the signing of 51,011 square-feet of commercial leases at Woodbridge Corporate Plaza in Northern New Jersey real estate market.

The leases signed include one new long-term lease and several lease extensions and expansions.

Woodbridge Corporate Plaza is a six-building Class A office complex encompassing 630,000 square feet. Situated in the central New Jersey submarket of Metropark, the asset was recently renovated to include a plethora of new amenities.

Marc DeLuca

“Demand for well-amenitized office space in the New Jersey office market has ramped up over the last 24 months, which is why assets like Woodbridge Corporate Plaza are attracting new companies and retaining existing tenants,” says Marc DeLuca, regional president, Eastern United States, for KBS.

 “With the average asking rent increasing by 10.4% during that time, it’s clear that this is a market experiencing robust growth, and all signs point to a continuing upward trajectory.”

The leases include:

·        Allegiance Retail Services, a current subtenant, signed a direct long-term lease for 18,928 square-feet.

·        Office Evolution, an existing tenant, signed a long-term lease extension and expanded its total square footage to 14,500 square-feet.

·        ENT & Allergy Associates, an existing tenant, expanded its lease to 8,090 square-feet.

·        Day & Zimmerman, a new tenant, signed a long-term lease for 5,900 square-feet.

·        Schultheis & Panettieri, LLC, an existing tenant, extended its lease on 2,047 square-feet.

·        Ace Software Solutions, an existing tenant, extended its lease on 1,546 square-feet.

“We strive to provide our tenants with first-class office space in a convenient location,” says Stephen Close, asset manager of Woodbridge Corporate Plaza and senior vice president at KBS.

Stephen Close

“The success of this strategy is evident in the addition of Day & Zimmerman to the campus and the fact that current tenants want to renew, extend and expand their leases.”

Woodbridge Corporate Plaza recently underwent a series of renovations including the construction of new modern lobbies and restrooms, upgrading of flooring and lighting, installation of new entrance doors and new signage opportunities for tenants.

       

       The property provides a host of sought-after amenities, including a new 6,000 square-foot fitness center, an on-site full-service café and caterer, on-site man

CONTACT:

Micaela Fehrenbach 

mfehrenbach@brower-group.com

Reagan’s Next Door Neighbor, Historic Three Hawks Ranch, For Sale at $13.9 Million on the Gaviota Coast in Santa Barbara, CA

Three Hawks Ranch, next to the historic Ronald Reagan Ranch on the Gaviota Coast at Santa Barbara, CA 

Photo credit: The Agency       Source: www.2377refugioroad.com

Gaviota Coast at Santa Barbara, CA --Three Hawks Ranch or the Garden of Eden? Adam and Eve would have had a lot more temptation among orange, lemon, lime, plum, peach, nectarine, pear, fig, olive, avocado, pomegranate and raspberries than they did with a measly apple tree!

Dolly Parton

But that’s just a small part of a 106-acre coastal ranch with views to the Channel Islands, part of the original land grant made by the King of Spain to Jose Francisco Ortega in 1794, says TopTenRealEstateDeals.com

Located next door to the historic Ronald Reagan ranch, Three Hawks Ranch is for sale at $13.9 million.

David Crosby

Carpeted with 100-year-old oak trees and open space, the ranch lies 95 miles north of Los Angeles and 15 miles above the coast with everything imaginable from its 1920’s-original-sandstone main house to a 60-tree orchard, two barns, safari-themed yurts and startling views over the Pacific Ocean.

Bo Derek 

 Structures include the six-bedroom, six-bath home which has been enlarged to accommodate family members and friends.

There is a pool and sandstone cabana with fireplace and lots of entertaining space, a large dining terrace with loggia and two barns housing land-maintenance equipment and four-wheel rides for exploring.

Steven Seagal

 There is also the orchard with an amazing wide variety of fruit, herbs and roses. Near the large barn is a newly-constructed staff house containing two bedrooms and a spacious living room, kitchen and herb garden.

A surprise bonus are the two safari-themed yurts with heat, air and plumbing. Each can accommodate a family of five as vacation rentals or for guest spillover from the main house.

Billy Rose 

Built from local sandstone boulders, the main house architecture is a well-balanced mix of earthy rusticity and elegance.

Rooms are sized for guests to easily take part whether it’s cooking in the kitchen with sandstone walls, beamed ceilings, top appliances and travertine counters, or enjoying a meal in front of a roaring fire, gathering in conversation groups for playing a board game or just conversing in front of a fire while surrounded by glass walls with the ocean views.

A mountain view from Three Hawks Ranch

Located in the most historically significant section of the Gaviota Coast in Santa Barbara, many celebrities enjoy escaping to the peace and rugged beauty of the area including Dolly Parton, David Crosby, Bo Derek and Steven Seagal.

The ranch is convenient to shopping and dining in Santa Barbara and is only 20 miles to the Santa Ynez wine country.

Three Hawks Ranch interior

Offering endless hiking trails, horseback riding trails, open fields for skeet shooting or frisby, Three Hawks Ranch is a serene respite from the hustle and bustle of city life and a paradise for children . . or Adam and Eve, who could be found overwhelmed by choices in the orchard..

The listing agent is Billy Rose of The Agency, Beverly Hills.

CONTACT:

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

Arbor Funds $8 Million Bridge Loan in Shreveport, LA

                              

 Willow Trace Apartments, Shreveport, LA

 UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a bridge loan in Shreveport, LA, for the acquisition of Willow Trace Apartments. This 192-unit property received $8.1M in financing.

Sam Schwass of Arbor’s New York City office originated the loan.

“This was an exceptional closing that was executed quickly and smoothly thanks to the experience of a highly sophisticated sponsor and the talent and expertise of our structured finance and underwriting groups,” said Schwass.

Sam Schwass

 “This was also a great example of how we partner with our clients to develop solutions that best meet their short- and long-term financial goals.”

Built in 1978, the two-story units that make up Willow Trace Apartments feature high-speed internet access, fireplaces, walk-in closets, air conditioning and ceiling fans.

 Residents enjoy balconies and patios; a grill and picnic area; an outdoor pool; and tennis courts. The complex also offers convenient access to local shopping venues, parks and recreation, including a science center, gardens and bicycle trails.

Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Downtown Orlando 7-Eleven store sells in record-breaking $6.25 million transaction

This 2,990-square-foot, single-tenant retail building was triple net leased to 7-Eleven at 83 East Colonial Drive in downtown Orlando, FL

ORLANDO, FL – JLL Capital Markets announced it has closed the $6.25 million sale of a 2,990-square-foot, single-tenant retail building triple net leased to 7-Eleven at a “main and main” location in downtown Orlando.

JLL marketed the property on behalf of the seller, Colonial 7-Eleven LLC. Massimo Guarini, a private investor, purchased the asset. The sale had a 4.17% capitalization rate, which is the lowest recorded cap rate for a 7-Eleven outside of California.

John Krzyminski

With more than 66,000 stores serving 17 countries, 7-Eleven, Inc. (S&P: AA-) is the world’s largest store chain in the convenience retailing industry. 

Situated on .85 acres at 83 E. Colonial Dr., the property is at the “main and main” intersection of E. Colonial Dr. and Magnolia Ave. in downtown Orlando. 

Opened in 2000, it is the top-performing 7-Eleven in the Orlando MSA and the only fueling station option for the 64,000 vehicles per day accessing Interstate 4 East.

The JLL Retail Capital Markets team that represented the seller was led by Senior Director John Krzyminski and Associate Max Krzyminski.

 

Max Krzyminski

According to John Krzyminski, this record-breaking 7-Eleven transaction shows how strong the net-leased market is in Orlando.

“Orlando has a lot of strong real estate fundamentals and is a leader, nationally, in a lot of economic categories such as job and population growth and is continuing to attract attention from different sectors like technology, defense and financial to name a few,” he said.

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

  

Contact: 

Kimberly Steele

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

Levin Johnston Successfully Completes Strategic 1031 Exchange Transaction in California Bay Area

This 18-Unit Multifamily Property Was Part of a 1031 Exchange Transaction
in West Berkeley, CA

BAY AREA, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, successfully advised its client, a private investor, to acquire an 18-unit multifamily property in the growing West Berkeley neighborhood in the Bay Area submarket of Berkeley, California.

The 1031 exchange began with the sale of a 9-unit multifamily community in San Jose, California, in which the team represented the seller and procured the buyer, according to Levin Johnston’s Executive Managing Director Adam Levin and Senior Managing Director Robert Johnston.

Adam Levin 

“After securing a strong price for the San Jose property, we strategically advised our Client to trade into an asset in the booming West Berkeley market, which offers intrinsic value as well as long-term upside and development potential,” explains Johnston.

 “The community is in a world-class location that appeals to a broad tenant base that’s includes students, young professionals, and families who will benefit from close proximity to a large selection of upscale retail options and trendy restaurants, including 4^th Street shopping and Berkeley Bowl.”

Situated on nearly half an acre, the community offers one- and two-bedroom floorplans. Constructed in 1943, six of the units have been completely remodeled with updated kitchens, modern hard flooring, high-end designer finishes, and new appliances. The remaining units present room for ample value-add renovations down the line, notes Johnston. 

“By strategically guiding our clients throughout these complex 1031 exchange transactions, we continue to demonstrate our ability to serve as wealth-focused commercial property advisors,” says Levin.

“Keeping our finger on the pulse of the market, we recognized an opportunity for our client to sell his lower yielding apartment community in San Jose, and transition into a stable, cash-flow trophy investment with future value-add potential in the heart of Berkeley.”

The 9-unit multifamily property is located at 70-74 North 10th Street in San Jose, California and sold for a total price of $3.44 million. The 18-unit multifamily property is located at 968 Addison Street in Berkeley, California and was purchased for a total price of $4.04 million.

Additionally, Levin Johnston also recently directed the sale of Cambridge Court, a 17-unit multifamily townhome community in Fremont, California. In this transaction, the team represented the seller and procured the buyer, a local investor.

“The city of Fremont is rapidly expanding and the condominium market has seen a tremendous amount of growth – over the course of five years, the average sale price of condominiums in Fremont increased approximately 36% – making it an ideal location for legacy wealth,” says Levin.

Robert Johnston

 “Each townhome at Cambridge Court has its own individual parcel, allowing for prospective buyers to have increased flexibility for their exit strategy.”

Originally built in 1985, Cambridge Court has recently undergone significant renovations and offers its tenants large two-story, two-bedroom/two-bathroom townhouse units with high-end designer finishes including black granite countertops and cherrywood cabinets.

Amenities include private backyards, upstairs balconies, in-unit washers/dryers, fireplaces and private covered parking.

Cambridge Court is located at 3102-3166 Rodney Common in Fremont, California and sold for a total sale price of $10.06 million.

Contacts:

Alex Caswell / Elisabeth Manville 

Brower Group

(949) 438-6262

acaswell@brower-group.com

www.levinjohnston.com.