HSA Commercial Real Estate Inks 69,005 SF Lease with Mygrant Glass Company in Indianapolis Market

Gateway V distribution center, 845 Airtech Parkway, Plainfield, IN
near the Indianapolis International Airport.

Robert Smietana

CHICAGO, IL and INDIANAPOLIS, IN — Chicago-based HSA Commercial Real Estate  announced the firm signed a 69,005-square-foot lease with Mygrant Glass Company at the newly built Gateway V distribution center at 845 Airtech Parkway in Plainfield, Ind., near the Indianapolis International Airport.

  With 67 locations nationwide, Hayward, Calif.-based Mygrant is the largest independent distributor of auto glass in the United States. 

The company plans to move into the facility in fourth-quarter 2020 once interior improvements are completed.

Following the lease with Mygrant, the 262,758-square-foot Gateway V industrial development is now approximately 75% leased, with only one 68,986-square-foot space still available.

Terry Busch

 Paris-based aerospace firm Safran Nacelles and transplant solutions provider LifeNet are the two other building tenants.

“We are very pleased with the quality of tenants that have chosen Gateway V for their regional distribution hub in the Indianapolis market,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate.

 “We’ve been active in the Indianapolis market for over 15 years, and the level of demand from major international companies for Class A industrial space has never been stronger than it is today.”

 Jared Scaringe 

Developed on a speculative basis and delivered in 2019, the Gateway V distribution center features 32-foot clear heights, 30 truck docks (expandable), four drive-in doors, 185 parking stalls and 70 trailer positions.

HSA Commercial Real Estate has developed six buildings totaling approximately 900,000 square feet at the Gateway Business Park. The firm also saw strong leasing activity at Gateway IV, a 151,200-square-foot warehouse completed on spec in July 2017 and now fully leased.

Michael Jeppesen 

Terry Busch and Jared Scaringe of CBRE represented ownership in the new lease at Gateway V. Michael Jeppesen of IPG Commercial and Michael Weishaar of Cushman & Wakefield represented Mygrant Glass.

About HSA Commercial Real Estate:

Founded in 1981, Chicago-based HSA Commercial Real Estate is a diversified, full-service real estate firm specializing in office, industrial, retail and healthcare real estate leasing, management, marketing, development and financing on a national basis.

HSA has developed and acquired more than 100 million square feet of commercial real estate across the United States, with a total consideration in excess of $6 billion.

 Michael Weishaar 

 The company has represented owners and tenants in more than 10,000 transactions in 43 states; manages a property portfolio in excess of 14 million square feet in locations across the nation; and owns more than 13 million square feet of commercial property throughout the country.

CONTACTS:

 Rebecca Boykin, rboykin@taylorjohnson.com, (312) 267-4523

Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528

JLL arranges $23 million construction loan for Phoenix, AZ apartment development

Patricia (Pat) Watts

PHOENIX, AZ, June 9, 2020 – JLL Capital Markets announced today that it has arranged construction financing and joint venture equity for the development of Cabana on 99^th, a 286-unit, garden-style multi-housing project in Phoenix’s Glendale submarket.

 JLL worked on behalf of the developer, Greenlight Communities (“Greenlight”), to arrange the joint venture equity partnership with Bridge Investment Group and a construction loan through a regional bank.

Cabana on 99^{th Apartments, Glendale submarket, Phoenix, AZ}

 Cabana on 99^th will be situated at the northwest corner of 99^th and Missouri Avenues just off Loop 101.

Due for completion in 2021, the property will provide “attainable” workforce rental housing under the Cabana brand.

Bryan Clark

The property’s design is the culmination of Greenlight’s consultation with leading industry experts, architects and property managers to design a prototype building style, floorplans, unit mix, amenities and operational strategies that would result in the construction savings needed to develop a ground-up project that provides an inviting home environment for residents at a lower cost.

 Cabana on 99^th’s studio, one-bedroom and two-bedroom units will total approximately 172,500 square feet. Amenities will include a common area designed as co-working space, swimming pool, outdoor grilling and dining, courtyard with lush landscaping and hammock garden, covered parking, controlled access and ride share locations.

 “At Greenlight, we have adopted an ‘everything you need, nothing you do not’ philosophy in designing our Cabana projects,” said Patricia (Pat) Watts, Principal at Greenlight Communities.

“By eliminating expensive, and often under-utilized common areas and amenities, and focusing only on those that deliver a true value component to our residents, we have reduced overall construction costs, as well as ongoing repair and maintenance costs. 

 Brad Miner

"Gone are the extravagant over-sized clubhouses, wine storage, movie theatres and business centers. 

"We have thoughtfully replaced such spaces with modern co-work space, indoor and outdoor fitness options and community inspired back-yard living.”

 The JLL Capital Markets team representing the developer was led by Managing Director Bryan Clark, Senior Director Brad Miner and Analyst Daniel Pinkus.

 “Greenlight is developing an innovative product that addresses a huge need in the market today: new, attainable housing for working families,” Miner added.

“We are grateful to work with the Greenlight team and look forward to the successful development of Cabana on 99th and the other Cabana-branded projects.”

 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.no

CONTACT:

Kristen Murphy

 Senior Manager

Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

 jll.com.

JLL arranges $185.63 million financing for Phoenix-area multi-housing properties

Autumn Creek Apartments, Chandler, AZ

PHOENIX, AZ – JLL Capital Markets announced it has arranged a refinancing totaling $185.63 million for a 1,439-unit portfolio of five multi-housing properties in and around Phoenix, Arizona.

JLL worked on behalf of the borrower, a partnership between Wealhouse Capital Management and Western Wealth Capital, to secure five, seven-year, floating-rate non-recourse loans through Freddie Mac.

Scott Morrison

The loans will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

The portfolio comprises the Carlyle Apartments and the Carlyle Townhomes in Phoenix; Greentree Place and Autumn Creek in Chandler; and Spring Meadow in Glendale.

The properties are garden-style and were constructed between 1981 and 1996 and feature a range of amenities, including resort-style pools, clubhouses, fitness rooms, basketball courts, valet trash service, green areas and dog parks.

The assets are situated in excellent locations throughout metropolitan Phoenix, which is the nation’s No. 1 multi-housing market in terms of historical and projected rent growth.

“Wealhouse is happy with our continued investments in initiatives that bring benefits to the tenants such as upgrading the energy efficiency of the properties and improving ESG,” said Scott Morrison, CEO of Wealhouse Capital.

 Josh Simon

“We also look forward to continuing our investments in Phoenix and its surrounding sub-markets as we continue to anticipate leading population and economic growth.”

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon and Senior Director Brad Miner.

“The Phoenix multi-housing market has remained extremely resilient during this current pandemic, affording us the opportunity to provide significant financing, in terms of multi-housing assets in the Phoenix area, to Wealhouse and Western Wealth teams on these five assets,” Miner said.

“It’s always a pleasure working with the borrower and their impressive portfolio, and we are grateful for our partners at Freddie Mac, who remained steadfast through the process and executed their part expertly,” Simon added.

Brad Miner

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform.

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

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

jll.com.

Western Wealth Capital 

Wealhouse Capital Management

Hospitality Ventures Management Group (HVMG) Awarded Management of Four Upscale Hotels

  

Robert S. Cole

ATLANTA, GA, June 9, 2020 —Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced it has assumed management of a four-hotel portfolio of upper upscale and upscale independent and Hilton-branded hotels located in Fla., Okla., and Texas. 

The 248-room Hilton Dallas/Southlake Town Square, the 227-room Hilton St. Petersburg Carillon Park, the 161-room Hilton Garden Inn Oklahoma City Airport and the 139-room Islander Resort on the beach in Islamorada, Fla., are owned by Hobbs & Curry Family Limited Partnership, LLP, a private owner and developer of hotels across the United States.

            “As the industry enters the next phase towards recovery, owners want experienced operators with true differentiators that stand out," said Robert Cole, president & CEO, HVMG. 

139-room Islander Resort on the beach in Islamorada, FL

 "We have not only weathered previous downturns, but have actual case studies and proven results of turning around underperforming hotels and maximizing their bottom line profitability, through both the ramp up of revenue and the reduction of payroll and expenses.

 “HVMG has undergone multiple economic cycles, and while this coronavirus is certainly in a class of its own, there are overarching lessons we have learned and strategies we can implement from previous cycles. 

 "We will continue utilizing those experiences and best practices for this portfolio.”

 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

Nadel Architecture + Planning appoints 20-year veteran Ryan Weller to manage new studio

Ryan Weller

LOS ANGELES, CA –  Nadel Architecture + Planning, Los Angeles’ premier architecture and design firm, has announced the launch of a new Direct-to-Retailer design studio.

Twenty-year industry veteran Ryan Weller has joined the firm as its Director of Retail to manage the firm’s new studio of retailer services and design studio.

“The new Direct-to-Retailer offering strategically positions us for long-term growth and provides us with an opportunity to continue to expand our retail design services,” says Greg Lyon, Chairman of the Board for Nadel Architecture + Planning.

Greg Lyon

“This is the perfect time for us to expand our retail capabilities, particularly given the current environment in which we believe we will begin to see significant innovation within the retail industry.”

Prior to Nadel, Weller served as director of retail for Menemsha Architecture where he crafted a team catered to serving high-end retail and commercial clients.

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Contacts:

Alex Caswell / Lexi Astfalk

Brower Group
(949) 438-6262

acaswell@brower-group.com

www.nadelarc.com.

JLL completes sale of Modera Davis High Rise in Portland, OR

Modera Davis Apartments, 204 units at  215 NW 10^th Street
within the affluent Pearl District, Portland, OR

PORTLAND, OR – JLL Capital Markets announced  it has completed the sale of Modera Davis, a 204-unit, luxury high-end residential community located in Portland, Oregon’s Pearl District.

JLL marketed the property exclusively on behalf of the seller, a joint venture between Mill Creek Residential Trust LLC and their capital partner. Virtú Investments, purchased the asset free and clear of existing financing.

Carrie Kahn

Modera Davis is located at 215 NW 10^th Street within the affluent Pearl District, and was sold prior to receiving a temporary certificate of occupancy.

The newly built, 12-story property features units averaging 658 square feet, 8,307 square feet of retail and 136 parking stalls.

The property boasts a Walk Score® of 100 and Transit Score® of 95 due to its location adjacent to some of the city’s most iconic restaurants, retailers and entertainment venues.

Ira Virden

Apartments feature spacious floor plans with private balconies and high-end finishes, including quartz countertops and backsplashes, stainless steel appliances, wine refrigerators, modern slab panel cabinetry, plank flooring, expansive windows and full-size washers and dryers.

Community amenities feature a top-floor fitness center, rooftop deck with grilling area and fire pit, sauna with rock salt wall, sensory deprivation float spa chamber, golf simulator, demonstration kitchen and electric vehicle charging stations.

The JLL Capital Markets investment advisory team representing the seller was led by Senior Managing Director Ira Virden, an Oregon-licensed real estate salesperson, Senior Director Carrie Kahn and Associate Frank Solorzano.

Frank Solorzano

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: U.S. newsroom.

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Contact:

 Kristen Murphy

 JLL Senior Manager

Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

MillCreekPlaces.com.

jll.com.