JLL arranges $58.5 million financing for Bay Area multi-housing portfolio

Part of Mosser Capital Apartments National Portfolio

SAN FRANCISCO, CA, April 16, 2020 – JLL Capital Markets announced today that it has arranged $58.5 million in financing to fund the recapitalization of a nine-property multi-housing portfolio located in Oakland, California.

JLL worked exclusively on behalf of Mosser Capital (Mosser) and its new foreign investment partner to secure the seven-year (including extension options), floating-rate loan through Société Générale. 

Part of Mosser Capital Apartments National Portfolio

The loan includes interest-only payments through the first five years of the term with an initial advance of $49.5 million and an additional $9 million in future funding for unit renovations, the addition of new accessory dwelling units (ADU’s) and other expenses. 

Mosser originally acquired the assets in a series of transactions and aggregated the portfolio between 2016 and 2017.

The portfolio consists of 282 existing rent-controlled residential units, including the addition of 28 to-be-built (accessory dwelling units (ADU’s), and four ground-floor retail suites.

 Peter Smyslowski

 The properties are centrally located in highly desirable submarkets of Oakland: Cleveland Heights, Adam’s Point, Lakeside, Uptown and East Lake. Units average 522 square feet.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Peter Smyslowski and Director Bercut Smith.

“Closing this loan during the recent market disruption posed some unique challenges,” Smyslowski said. “However, thanks to the borrowing team’s outstanding reputation and experience, Société Générale never wavered from its commitment to close the loan in a timely manner.”

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.

Bercut Smith

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

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

About Mosser Capital:

Mosser is a leading investor, acquirer and operator of value-add, rent-stabilized urban workforce housing in San Francisco, Oakland and Los Angeles for institutional and high-net-worth investors.  

Since Mosser’s founding in 1955, the company has become a leader in urban workforce housing specializing in West Coast gateway markets.  

Mosser’s portfolio comprises more than $1.5 billion in apartment assets in emerging neighborhoods throughout the San Francisco Bay Area and Los Angeles, totaling more than 3,400 units.

Contacts:

 Peter Smyslowski

JLL Senior Managing Director 

CA Lic.: #01301231

Phone: +1 415 276 6300

Email: Peter.Smyslowski@am.jll.com

Olivia Hennessey

 JLL Senior Associate

 Public Relations

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

 jll.com.

BLT Enterprises Acquires Two Hollywood, CA Properties for $20 Million Despite the Ongoing Covid-19 Pandemic

Stephanie Lakatosh

HOLLYWOOD, CA – BLT Enterprises, a multi-faceted commercial real estate development and investment company, has acquired two properties in Hollywood, California for a total consideration of $20 million.  

The properties include a creative office project at 5735 Melrose Avenue, and an 18,000 square-foot production and entertainment office compound at 6151 Santa Monica Boulevard.

Bernard Huberman

The Melrose acquisition occurred on March 6, and the closing of the Santa Monica property occurred on April 10, despite the current health and economic crisis.

“BLT never wavered from its commitment to close” remarked Stephanie Lakatosh, one of the principals of the seller.  “In fact, BLT closed more than a month early at our request, without any adjustments to the purchase price.”

 BLT Enterprises has acquired an 18,000 square-foot 
production and entertainment office compound 
at 6151 Santa Monica Boulevard. BLT plans to transform 
the property into a modern creative industrial compound.

“These acquisitions are directly in line with our ongoing strategy of acquiring well-located properties that deliver value over a long hold period,” says Bernard Huberman, Founder and President of BLT Enterprises. 

“Despite the current COVID-19 crisis, we are a firm believer in the resiliency of the California economy, and the long term value in the Hollywood submarket.” 

BLT Enterprises has acquired a creative office project
at 5735 Melrose Avenue within walking distance
 of Paramount Studios and Larchmont Village

BLT plans to transform the Santa Monica property into a modern creative industrial compound catering to production companies, digital advertising agencies and other companies at the convergence of tech and media, according to Huberman. 

Brad McCoy

“The building has incredible bones, and ample parking in excess of most other buildings in the market.”

The Melrose property, which is within walking distance of Paramount Studios and Larchmont Village, was already renovated to fit the needs of various users in the marketplace. 

 “The prior owner did an incredible renovating this property,” remarked Huberman.  “We may convert the existing screening room into a recording studio, given the lack of quality recording space integrated into Class A creative office projects.  Other than that, it’s ready to go.”

BLT has experience with a variety of out-of-the-box acquisitions and conversions in the Greater L.A. market. The firm recently acquired a four-stage studio lot in the core of the Hollywood Media District. 

David Wilson

The 34,000 square-foot studio lot has been rebranded as BLT Studios and continues to serve production clients throughout the area.

BLT was represented in both transactions by Brad McCoy and David Wilson of Lee & Associates.  

The seller of the Santa Monica property was represented by Adam Hall of TOLD Partners, Inc. Paul Brehme and Brad McCoy of Lee & Associates represented the seller of the Melrose property.

Paul Brehme

About BLT Enterprises

Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate development and investment company with an exceptional track record of success in industrial and commercial real estate. The firm has developed or acquired more than $2 billion in assets to date.

Adam Hall 

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

Contacts:

Lisa James / Jenn Quader

Brower Group

(949) 438-6262

ljames@brower-group.com

Hold-Thyssen's Carol Kinnard Recognized by Florida Gulfcoast Commercial Association of Realtors for Achievements in Tampa Bay

Carol Kinnard 

TAMPA BAY, FL  --  The Florida Gulfcoast Commercial Association of Realtors (FGCAR) recognized Carol Kinnard of Hold-Thyssen Real Estate Services among the winners at its recent Pinnacle Awards event.   

 Richard J. Fisher

 Richard J. Fisher, Vice President at Hold-Thyssen, Inc. said the award named Kinnard among the top 3 producers in the region in the office category for negotiating more than $5.9 million in commercial office transaction in 2019 in Tampa Bay .

Scott Clendening 

Other 2019 Pinnacle Regional Top Producers in the office sector were Scott Clendening of Commercial Partners Realty Inc, and Kevin Platt of Smith & Associates Real Estate.

Kinnard, who has been with Hold-Thyssen more than six years, is a long-time FGCAR member and past Pinnacle award winner. 

 “I’m so pleased to be included again among others so committed to the commercial real estate profession,” she said.

About Hold-Thyssen Inc.:

Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States .

Kevin Platt

CONTACTS:

Richard J. Fisher, 
Vice President/Investor Services, Hold-Thyssen, Inc.,
 813-880-7100 ext303
Rfisher@HoldThyssen.com

Robert P. Hold, 

Principal, 
Hold-Thyssen, Inc.,

407-691-0505, 
bhold@HoldThyssen.com

Beth Payan,
 Larry Vershel Communications Inc.

 407-644-4142 or 407-461-3781 
beth@larryvershel.com  

Surfer-Architect Legend Matt Kivlin's Malibu Beach, CA Home for Sale at $13 million

Located on the bluffs above Paradise Cove in the gated enclave of Sea Lane, this is one of over 200 Kivlin-built homes, 80 of which were located in Malibu

Photo/video credit: Jason Christopher
Source: www.malibumark.com

Surf’s up and only steps away for a Malibu home designed by the late surf-legend-and-architect Matt Kivlin. Located on the bluffs above Paradise Cove in the gated enclave of Sea Lane, it is for sale at $12.995 million.

Matt Kivlin

Kivlin wasn’t your average beach bum, but a serious surfer turned architect. In 1940, he designed a surfboard out of lightweight balsa wood, known as the Malibu Board, after finding the long Koa wood boards in Hawaii hard to handle.

Entrance to Kivlin home

 The original boards, which were still used in Hawaii long after statehood, historically were sized at 16 feet for Hawaiian royalty and 12 feet for commoners while Matt’s were only about 9-feet long.

Kivlin went from being known as California’s best wave rider in the 1940s and 50s to designing and building over 200 homes, 80 of which were located in Malibu.

Marrying his love of surfing and profession of architecture in a cheerful home that would charm any surfing enthusiast, Kivlin’s home is just down the lane to the Pacific Ocean waves.

Mark Gruskin

 Now a compound extensively added to by the current owners, the 3/4-acre lot contains the sunny four-bedroom main house and a newly constructed contemporary, fully outfitted guest house with a gourmet kitchen and a separate creative media production space, both connected by a large wrap-around deck.

 The main house is open and sunny connected to the lushly designed grounds that contain lawn, pond, fountain, fire pit, fruit trees and a vegetable garden.

 There is also a ceramics shed, private outdoor bathtub, multiple decks, saltwater pool and spa, outdoor gym with sauna, ice bath and a full outdoor kitchen.

There is plenty of parking for guests and the exclamation point is the full deeded access to one of the best beaches in California, according to TopTenRealEstateDeals.com

Much loved by the film industry since its inception, celebrities flock to the Malibu area. Paradise Beach and the Paradise Beach Cafe have been the backdrop of many Hollywood films including Indecent Proposal, X-Men, Monster-In-Law, The Bold and the Beautiful and many more.

After a day of beaching or surfing, the Cafe is a popular place to chill over good food and exotic drinks before strolling home.

The Kivlin property is a home for beach lovers, surfers, celebrity watchers and those who just want to live in luxury with all the amenities by the ocean. The house is  listed by Mark Gruskin of Westside Estate Agency in Malibu.

CONTACT:

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

M&R Development Begins Construction on 4200 On The Lake – Its First Rental Building in Wisconsin

4200 On The Lake Exterior Rendering - 4200 On The Lake, at 4200 South Lake Drive, will feature one- and two-bedroom units, extensive amenities and sweeping views of both Lake Michigan and the Milwaukee skyline

CHICAGO, IL (April 15, 2020) — M&R Development announced it has begun construction on a 236-unit luxury apartment building on Lake Michigan in St. Francis, Wisc., an inner-ring suburb located only 5 miles south of downtown Milwaukee. 

The project, 4200 On The Lake, will feature one- and two-bedroom units, extensive amenities and sweeping views of both the lake and the Milwaukee skyline. Building delivery is targeted for spring 2021. M&R is co-developing the project with Campbell Capital Group, LLC.

Anthony Rossi, Sr.

“We’ve always had one eye on the Milwaukee area, especially the stretch that runs south of the city to the airport – good job growth, easy access to I-94, great lake views – as it checks a lot of boxes,” said Anthony Rossi, Sr., managing partner, M&R Development. 

“In fact, we looked at this site 20 years ago, but the timing wasn’t right. You only get one chance to build your first project in a different state, so we wanted to make sure we did it right. 

"Our patience paid off. We secured the best parcel on this site, perched on a bluff with incredible views of Lake Michigan to the east and the city to the north.”

Located at 4200 S. Lake Drive, the community will offer apartments with nine-foot ceilings; quartz kitchen countertops; cultured marble bathroom vanities; tub and shower surrounds with subway tile; and full-size washers and dryers. Most apartments come with a balcony and select units also include walk-in closets. 

CONTACTS:

 Robin Plous, rplous@taylorjohnson.com, (312) 267-4512

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

Ware Malcomb Announces New Leadership Positions in Houston,TX Office

                        Heather Griffin

HOUSTON, TX  (April 15, 2020) – Ware Malcomb, an award-winning international design firm, today announced two new leadership positions in its Houston office.

Chris Royster has joined the firm as Regional Director to lead the Houston office. In this role, Royster is responsible for the overall growth and management of the Houston office.

Chris Royster 

Ware Malcomb also announced that Heather Griffin has been promoted to Director, Interior Architecture & Design in the firm’s Houston office.

Griffin is responsible for the growth and management of the Interior Architecture & Design Studio and oversees all interiors projects for the Houston office.

Ware Malcomb’s Houston team recently relocated into larger, office space to accommodate its recent growth.

CONTACTS:

Rachel Devany

VP Public Relations, KCOMM for Ware Malcomb

Rachel@kcomm.com 

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

The Dow Hotel Company (DHC) Offers Tips to Navigate the Pandemic for Management Companies and Hotel Owners

  

  

Murray L. Dow II

SEATTLE, WA—Officials The Dow Hotel Company (DHC), a leading national hotel owner/investor and operator, has provided guidance to fellow hotel owners and operators as the hotel industry continues to seek ways to combat the effects of the coronavirus.

“As the entire hospitality industry experiences a major decline in hotel demand, it has never been more important for management companies to be intensely focused on helping it's hotel owners and owner/partners to navigate the current environment through various types of cost containment measures,” said Murray L. Dow II, founder and president, DHC. 

“ Management companies need to take a holistic approach by focusing on hotel owners.  Maintaining near 100 percent of corporate staff is beneficial in order to effectively service their hotels and owners at this unprecedented time. 

"Additionally, because the gradual ramp-up may take a while, having enough staff on board is critical to being able to quickly react to the needs of owners.”

DHC recommends that management companies should be proactive in:

·         --Customizing relief packages to protect each hotel owner’s assets by quickly taking measures to reduce expenses and acting as owners in this situation. This includes having to close guest floors, F&B outlets and creating plans to reduce labor in a strategic manner.

·         --Utilizing corporate staff to help owners navigate the relationship with brands, especially as those brands deal with massive layoffs. It may be possible to get more concessions from the brands on an individual basis such as delaying capital projects, as well as other initiatives, by a year.

·         --Facilitating discussions with numerous lenders, servicers, attorneys and consultants on behalf of owners to apply for loans and free up cash in order to protect owners’ assets.

“The Dow Hotel Company has been busy focusing on providing the best service to its partners and hotel owners,” Dow added. “For instance, at a time when San Jose declared all hotels to be non-essential, DHC helped their hotel in fighting to stay open by actively offering hotel rooms to first responders, as well as relief nurses. 

"DHC designed extreme quarantine routes for each group (i.e. one group takes the stairs and stays on one specific floor) to provide the distancing necessary for everyone’s safety. 

"In addition, DHC fought for approval with the City of San Jose and Santa Clara County to continue the ongoing lobby renovation at the property in order to quickly bring the space back online for adequate social distancing space.”

DHC also has experienced some positive developments that have resulted from this time of low demand:

·         DHC successfully completed a multi-million dollar renovation of the Embassy Suites Anaheim South on time and under budget. The renovation timeline was able to stay on track as FF&E was procured through a domestic manufacturer from Arizona, that was able to deliver previously ordered product on schedule. 

“While it is extremely difficult to know when hotel demand will resume, management companies should be ready to strategically and proactively assist its owner/partners to prepare for whatever the future holds,” Dow concluded.

About The Dow Hotel Company:

Founded in 1997, Seattle-based The Dow Hotel Company is a hotel owner/investor and operator of first-class properties throughout the United States. 

The company’s portfolio of owned and managed properties consists of institutional-grade hotels, under such full service brands as Marriott, Hilton, Hyatt, Embassy Suites, DoubleTree, Sheraton, and Crowne Plaza. 

The company aggressively seeks to acquire, co-invest with joint venture partners and/or manage mid- to large-size, first-class, full-service hotels through smaller, boutique, independent properties.

The company currently operates food and beverage facilities around the nation, ranging from casual dining to upscale, bars/lounges with Starbucks and Tully’s coffee outlets.

 In addition to Masterson’s, the division’s proprietary restaurant concepts also include Basil’s Kitchen and BC Bistro. 

Additional information about The Dow Hotel Company may be found at www.dowhotelco.com.

 CONTACT:

  

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com | www.dalygray.com