Arbor Realty Trust Announces Funding Deals Nationwide

 $6.1 Million Fannie Mae Small Loans Financed in Arizona and California

 Greg Gillam 

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded three Fannie Mae Small Loans in AZ and CA. The properties received $6.1M in refinancing through the program.  

 Greg Gillam of Arbor’s Manhattan Beach office originated the loans.

 “These transactions demonstrate our ability to provide clients with optimal funding in a timely manner,” Gillam said. “At Arbor, we are committed to delivering on all of our borrowers’ short- and long-term needs.”

 Sherman Grove Apartments in Los Angeles, CA, received $2.5M. The multifamily property includes studio, one- and two-bedroom floorplans with walk-in closets and hardwood floors.

 Grover East Apartments in Phoenix, AZ, received $2.2M. The 30-unit complex was built in 1986 and offers one-, two- and three-bedroom options. Lookout Mountain Park and Paradise Valley Community College are a short driving distance away.

 1800 Megan Circle in Hanford, CA, received $1.4M. The multifamily community was built in 1962 and features one- and two-bedroom units. Retail shopping is nearby.

$79.6 Million Freddie Mac Conventional Portfolio Funded in Virginia

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Freddie Mac Conventional portfolio in Virginia. The three loans, totaling $79.6M, received acquisition funding with 10-year terms.

 Jason Scott of Arbor’s Atlanta office originated the loans. 

 “These transactions reflect our in-depth knowledge of local multifamily markets,” Scott said. “As trends point to increased demand for suburban living, we enjoy working with sophisticated clients who are expanding into lower density markets that offer growth potential, while providing beautiful and comfortable spaces, which people are proud to call home.”

 Jason Scott 

 Chesapeake Bay Apartments in Newport News, VA, received $28.2M. Built in 1987, the 300-unit, three-story complex was renovated in 2019. With landscaped grounds, the property features furnished one- and two-bedroom units with balconies and patios, a dog park, fitness center, pool, playground and tennis courts.

 Just a 15-minute drive to Richmond, Hanover Crossing in Mechanicsville, VA, received $26.7M. Built in 1987 and renovated in 2019, this two-story, 220-unit property offers spacious apartments with private balconies and patios. Amenities include a swimming pool, picnic area and tennis, volleyball and basketball courts.

 Located in Richmond, VA, Wilde Lake received $24.7M. Built in 1989 and renovated in 2019, the complex offers one- to three-bedroom units with lake access for residents. In addition to a business center, a carwash and catering kitchen, the community features a clubhouse, fitness center, pool and tennis courts.

$9 Million Fannie Mae DUS® Small Loans Arranged Across Utah

 UNIONDALE, NY –  Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded four Fannie Mae DUS® Small Loans in Utah. The properties, totaling 120 units, received $9M in refinancing.

 Austin Walker of Arbor’s New York City office originated the loans.

 Sandbox Apartments in Salt Lake City, UT, received $1.6M with a 10-year term in the second quarter of 2020. The 22-unit complex was built in 1960 and is conveniently located with Salt Lake Central Station, parks and shopping nearby.

 

Austin Walker

Three additional properties received refinancing in the third quarter of 2020:

 Twin Terrace & Scotsman Village in Logan, UT, received $5M with a 12-year term. The pet-friendly complexes are comprised of 66 units in total. Utah State University is less than a mile away. 

 Meadow Park in Tremonton, UT, received $1.3M with a 10-year term. The multifamily property is made up of 16 residential units, and is adjacent to a park with pavilion, playground, baseball field and tennis courts.

 Logan Canyon in Logan, UT, received $1.1M with a 10-year term. Built in 1965 and renovated in 2019, the garden-style, low rise includes 16 units. Retail shopping and dining are nearby.

 $19.7 Million in Multifamily Loans Funded Across Florida

 

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR) a leading multifamily and commercial mortgage lender, recently funded six multifamily transactions across Florida. The properties, consisting of 216 units, received $19.7M in financing.

 

James Fiesel of Arbor’s New York City office originated the loans.

 

“Our team offers competitive terms across a variety of product types,” Fiesel said. “Arbor is committed to providing all of our clients with customized financial solutions that align with their short- and long-term needs.” 

 

Hilton Estates in Hialeah, through the Fannie Mae DUS® Standard Loan program, received $9.7M in acquisition funding with a 10-year term. Built in 1989, the 66-unit property is pet-friendly. Florida National College and Miami Dade College are nearby.

 

Parkview Apartments in Eustis, received $3.1M in refinancing with a 10-year term in the second quarter of 2020. Built in 1971, the 56-unit pet-friendly property is near to retail shopping and Trout Lake Nature Center.

James Fiesel 

1621 NW 19^th Street in Miami, received $1.6M in refinancing with a 12-year term in the third quarter of 2020. The multifamily complex is made up of 20 units with new kitchen cabinets and granite countertops. 

 

6791 NW 22^nd Ave. in Miami, received $2.1M in refinancing with a 12-year term in the fourth quarter of 2020. The two-story, garden low-rise features 36 units with central air conditioning. Local transportation and Miami Dade College are a short driving distance away.

 

Spruce Apartments in West Palm Beach, received $1.5M in acquisition financing in the second quarter of 2020. The two-story, gated community consists of 18 units and features a Zen garden. It is in close proximity to Four Arts Gardens and retail shopping.    

 

1362 SW 2^nd Street in Miami, received $1.7M in refinancing in the fourth quarter of 2020. The recently renovated 20-unit property includes one- and two-bedroom offerings with tile flooring. Local transit, retail shopping and the Vizcaya Museum and Gardens are a short driving distance away.

 

 CONTACT:

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Arbor Realty Trust, Inc.

333 Earle Ovington Blvd, Suite 900

Uniondale, NY 11553

800.ARBOR.10

arbor.com

Last-mile New York City-area distribution facility sells

Sold: Crossroads at 100 Jefferson Road, a 558,930-square-foot,
last-mile, Class A distribution facility in Parsippany, NJ

Jose Cruz

 MORRISTOWN, NJ – JLL Capital Markets announced it has closed the sale of Crossroads at 100 Jefferson Road, a 558,930-square-foot, last-mile, Class A distribution facility in Parsippany, New Jersey.

JLL worked on behalf of the sellers, Harbor Group International and Turnbridge Equities. JFR Global Investments purchased the asset.

 Crossroads at 100 Jefferson Road is situated on 35.9 acres in the Eastern Morris County Industrial submarket at 100 Jefferson Rd. at the intersection of Interstates 287 and 80, two of New Jersey’s most highly traveled thoroughfares and which provide direct access to New York City, Newark Liberty International Airport and Port Newark-Elizabeth.

 This last-mile location is surrounded by three million residents within a 20-mile radius and is centrally located to provide easy access to the New York City MSA and more than 20 million people.

Jordan Avanzato

 Originally constructed between 1957 and 1998, the property, which is currently 63.5% leased to PNY Technologies and Vitaquest International, recently underwent a comprehensive multi-million-dollar capital improvement program to create new-to-market Class A industrial warehouse space.

The facility, which is split into three independent suites, features clear heights ranging from 19 to 38 feet, 35 loading docks, three drive-in doors, 514 parking stalls and solar panels.

 The JLL Capital Markets team representing the seller included Jose Cruz, Jordan Avanzato, Marc Duval Michael Oliver, Kevin O’Hearn and Steve Simonelli.

Marc Duval 

 “We are very pleased with the outcome of this transaction,” Cruz said. “Demand for suburban industrial continues to be very strong and the remaining lease up of this asset gives the buyer significant upside on which to capitalize.”

 The COVID-19 pandemic and the shelter-in-place policies that ensued have accelerated e-commerce growth and the need for warehouse space across the nation. 

JLL expects e-commerce sales could hit $1.5 trillion by 2025, which would increase the demand for industrial real estate to an additional 1 billion square feet.

 E-commerce is expected to lead future leasing in the New Jersey Industrial market specifically. After leasing volume hit its second-highest level since 2008 in 2Q 2020, JLL Research found that, in 3Q 2020, leasing continued to accelerate on the back of the e-commerce industry, which should persist through 2020.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Michael Oliver

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales 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 our newsroom.

  

About Harbor Group International

Harbor Group International, LLC, including its affiliates, is a private real estate and real estate related investment and management firm which controls a portfolio of worldwide assets valued at $12.5 billion.

 Kevin O’Hearn 

HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore, Los Angeles and Tel Aviv. 

The company’s real estate holdings include 4.9 million square feet of commercial properties and 45,000 apartment units. For additional information, please visit harborgroupint.com.

 

About Turnbridge Equities

Turnbridge Equities, founded in 2015 by Andrew Joblon, is a privately held, vertically integrated real estate investment and development firm with offices in New York, Los Angeles, Washington, D.C., Miami, and Austin.

Turnbridge is an SEC registered investment advisor, Turnbridge RE Fund Management Company I LLC, with assets under management in excess of $1.7 billion.

Turnbridge’s full-service platform and extensive relationships enable the company to acquire, develop, reposition, and operate real estate and generate value for its investors and partners.

 Steve Simonelli

Turnbridge and its principals seek to bring high levels of creativity and thought leadership to drive the results of each of its investments.

With a track record of implementing successful investment strategies, Turnbridge has capitalized on emerging trends and monetized value in advance of market shifts.

Disclaimer: This does not constitute an offer to sell or a solicitation of an offer to purchase any interests in any Turnbridge projects.

 About JFR Global Investments

Headquartered in New York, JFR Global Investments is a privately-owned commercial real estate investment and management company that specializes in acquiring and operating value-add and core office and industrial properties in the Northeastern and Southeastern U.S. as well as in select markets throughout the country. 

Andrew Joblon

JFR, founded over thirty-five years ago, has acquired over $7 billion in real estate properties totaling over 54 million square feet in the last fifteen years, with a majority of its portfolio concentrated in New York City, New Jersey and Pennsylvania. 

 Additionally, JFR has acquired office and industrial properties in over 40 states.

 

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. 

Parsippany in yellow above

JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

For further information, visit jll.com.

  CONTACTS:

Kimberly Steele

Senior Associate, Public Relations

JLL Capital Markets

9 Greenway Plaza, Suite 700

Houston, TX  77046

T +1 713 852 3420

M +1 832 244 9994

Kimberly.Steele@am.jll.com

 us.jll.com/capitalmarkets

Ware Malcomb Announces Expanded Role for Principal Jim Terry in Pleasanton, CA office

 Jim Terry 

 PLEASANTON, CA – Ware Malcomb, an award-winning international design firm, announced an expanded leadership role for Jim Terry as Principal of the Pleasanton office. In this new role, Terry takes on responsibility for the overall leadership, management and growth of the firm’s Pleasanton office.  

 Terry brings over 35 years of architectural, design, and management experience to his new position. He joined Ware Malcomb in 2003 as a Project Manager in Denver, relocated with the firm to Northern California in 2004, and a year later was promoted to Director, Commercial Architecture. 

 “I want to congratulate Jim on his expanded leadership responsibilities as Principal of the Pleasanton office,” said Gary Drew, Regional Vice President of Ware Malcomb.

  “Jim has played a key role in the strong growth of our architecture practice throughout Northern California, and in his new role he will work closely with all practice leaders to manage and expand our design services in the region.

 "In addition to leading our extremely talented Pleasanton team, Jim will have a particular focus on Ware Malcomb’s industrial business segment and the growth of this business across Ware Malcomb’s offices.”

 For more information, please visit http://www.waremalcomb.com/news and view Ware Malcomb’s Brand Video at youtube.com/waremalcomb.

 

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

 Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

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

 Ware Malcomb Pleasanton

4683 Chabot Dr #300
Pleasanton, CA 94588

p. 925.244.9620

waremalcomb.com

Lee & Associates of Illinois Welcomes Veteran Office Brokerage Team Tony Russo & Ryan Freed

Tony Russo

  Rosemont, IL -- Lee & Associates of Illinois is excited to announce the addition of two veteran brokers to the firm. Tony Russo, Senior Vice President, and Ryan Freed, Vice President, will launch Lee & Associates’ office practice.

 Russo & Freed have worked together for over eight years and have a combined 28 years of experience in the Suburban Chicago office market.

They began their careers with a focus on the I-88 / East-West Corridor; while keeping a firm grasp on that market, they continue to expand their team’s platform to the I-90 Northwest Suburbs.

 During his 18 years in commercial real estate, Russo has been particularly successful in the leasing of assets with high vacancy rates and time on market.

Ryan Freed

Prior to his brokerage career, he attended Madison Area Technical College where he earned his technical diploma in architectural drafting. He is a licensed Illinois Managing Broker and is affiliated with the Northern Illinois Commercial Association of Realtors (NICAR).

 Freed’s entrepreneurial and hands on approach to real estate has allowed him to build successful and long-term relationships with his clients while taking into consideration their business needs and real estate goals.

Tom Condon

He is a graduate from North Central College in Naperville, Illinois with a bachelor’s degree in Business Management and Entrepreneurship & Small Business Management.

 Tom Condon, Principal at Lee & Associates of Illinois adds, “We are excited to have a foothold in the suburban Chicago office market. Tony and Ryan are two proven veterans that Lee & Associates can build with in the future.”

 CONTACT:

Jessica Madden

Lee & Associates of Illinois

 jmadden@lee-associates.com

 

Easton & Associates Announces New Sales and Leasing Activity in Miami-Dade County, FL

Maria Borras

 Doral, FL— Easton & Associates, the brokerage division of The Easton Group, recently completed a new sale and lease transaction in Miami-Dade County.

 Mike Waite 

 16480 EMG Holdings Group LLC acquired a 53,744-square-foot industrial building for $5.34 million located at 16480 NW 48 Avenue, Miami Gardens. 

The buyer, which does business as Chemco Corp., manufactures cosmetics and hand sanitizers. This is the fifth property the company has acquired in the Palmetto Lakes Industrial Park.

Easton’s Mike Waite and Jim Armstrong represented the seller, Salcum Shutters Investments LLC.

 “We are still seeing a strong sales market in the industrial sector as the supply of functional buildings available for sale remains low, and the demand to own is  high,” said Waite.

 Jim Armstrong 

 Nomi Health Miami-Dade LLC leased 16,500 square feet of industrial space at 7000 NW 46 Street in Miami. Easton’s Tom Kimen represented the landlord, Minnix Ltd.  Maria Borras of Related ISG Realty LLC, represented the tenant. 

 About The Easton Group:

Edward W. Easton is founder and chairman of The Easton Group, a family-owned, boutique commercial real estate firm with over 45 years of experience and an exceptional track record.

The group is broken down into four business units consisting of commercial real estate investment, development, brokerage, and property management. 

Tom Kimen 

The Easton Group is headquartered at International Corporate Park in Doral, Florida.  

For more information, please log on to www.theeastongroup.com.

  CONTACT:

 Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

O 954-370-8999

C 954-290-0810

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Legacy Village Celebrates Grand Opening in Longwood, FL

Marisol Santiago Soderstrom

 LONGWOOD, FL --- Oakwood Construction and Development is celebrating a grand opening showcasing its fully furnished and decorated model at Legacy Village , a quiet new Longwood community in an enticing cluster design overlooking beautiful Lake Irene. 

  The lake view community features just 15 single-family, custom-designed Victorian style homes with an upscale park-like centerpiece, and rear entry two-car garages.     

The picturesque two-story homes priced from the mid-$270,000s offer two floor plans: a three-bedroom, two-and-a-half-bath design with 1,814 square feet under A/C, and a four-bedroom, three-and-a-half bath home with 1,996 square feet under A/C.  

The picturesque two-story homes in Longwood, FL,
 priced from the mid-$270,000s, offer two floor plans

Marisol Santiago Soderstrom, owner of Orlando-based Stirling International Real Estate, is representing the property.  She said the builder’s custom building process involves homebuyers selecting their own colors, cabinetry, fixtures, tile and flooring, all with many luxurious upgrades available.

“Single-family homebuyers can own a custom home with uncompromising quality interior design priced in the $270s, a difficult price point to find for a spacious new home in Central Florida,” Soderstrom said, adding “And for a limited time the builder is offering a $5,000 closing cost credit.”

  The lake view community features just 15 single-family,
custom-designed Victorian style homes overlooking Lake Irene

The traditional neighborhood design that Oakwood has implemented at Legacy Village not only provides for more green spaces, it also expands the ease of getting acquainted with neighbors and develops the sense of a caring community. 

The peaceful, serene location affords easy access to major arterial roadways including 17-92, SR 434 and SR 436 and the SunRail station.  Historic downtown Longwood is just minutes away as well as two major hospitals, restaurants, shopping and conveniences. 

For more information about the model grand opening, please visit www.LVLongwood.com  or call 407-284-5004.

CONTACTS:

Marisol Santiago Soderstrom, Stirling International Real Estate

 407-284-5004, MSoderstrom@StirlingIRE.com

Beth Payan, Larry Vershel Communications

 407-644-4142 Beth@LarryVershel.com or Lvershelco@aol.com.