Alliant National Announces the Promotion of Donna More as Vice President and Senior Underwriting Counsel - Florida

 Donna More

 

Longmont, CO, May 6, 2021 – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, announces the promotion of Donna More, Senior Underwriting Counsel, to the position of Vice President - Florida. More is a highly skilled and knowledgeable attorney who has been practicing law since 1985 and is licensed in the states of Florida, New Jersey and Pennsylvania. During her career, she has worked on the agency side of the industry, as well as in private practice. More is certified in real estate by the Florida Bar, and is active in several committees in the Florida Bar Real Property and Probate Law Section.She is also a Leadership in Energy and Environmental Design (LEED)-accredited professional, having received the certification from the U.S. Green Building Council. Margaret Cook In her new role with Alliant National, More will continue providing leadership within Alliant National’s Florida underwriting department and supporting the organization’s overall operations within the region.   “Donna is an incredibly knowledgeable, deeply experienced and exceptionally responsive underwriter,” said Margaret Cook, EVP, General Counsel and Chief Legal Officer of Alliant National.  “She is wickedly smart, conscientious, humble and kind. Donna is a valuable part of our legal team and our Florida operations, and she has earned this well-deserved recognition for her contributions to our agents’ and the company’s success.”

 

Contact: Cathie Beck 303.241.0805 cathie@capitalcitypr.com alliantnational.com

 

Next Wave Enters Oregon Market and Expands Footprint with Two Multifamily Acquisitions Totaling $48.6 Million

Serrano North and South, a 300-unit multifamily community
in Spokane, WA

 

 Tualatin, OR and Spokane, WA  – Next Wave Investors, LLC (“Next Wave”) a private equity firm focused on value-add multifamily investments, has acquired two multifamily properties in the Pacific Northwest: Serrano North and South, a 300-unit multifamily community in Spokane, Washington for $34.4 million and River Lofts, a 74-unit multifamily property in Tualatin, Oregon for $14.2 million.

 “The opportunity to enter the Oregon market and expand our footprint in Washington is well-timed with our ongoing investment strategy, through which we continue to identify value-add properties situated in markets poised for rapid growth and expansion,” says Jordan Fisher, Principal at Next Wave.

Jordan Fisher

 Next Wave was an early value-add investor in Las Vegas, Phoenix, and Salt Lake City multifamily after the Great Recession. The firm benefited from strong value creation as population and job growth soared in these markets, says Fisher.

 “There is an opportunity to enhance property value in the Pacific Northwest as fundamentals in both Oregon and Washington strengthen,” Fisher continues.

 “Overarching trends in the region include rising rental demand based on increasing in-migration from California residents and a ‘flight to suburbia’ that ignited during 2020.

 "This momentum, coupled with the new economic recovery and subsequent job growth, make these acquisitions well-positioned to benefit from strong future demand and stability, while giving us an opportunity to leverage economies of scale in the region and further streamline operational efficiencies.”

 David Sloan, Principal at Next Wave adds: “Both properties were acquired in off-market transactions through previous broker relationships, which speaks to our positive track record and strength of reputation in the industry.

 

 David Sloan

"These are vintage 1974, 1981, and 1984 properties, giving our team a tremendous opportunity to implement our improvement and renovation strategies and enhance quality of life for our residents at each of these properties.

 300-Unit Serrano North and South in Spokane, WA

 Next Wave has acquired Serrano North and South Apartments, a 300-unit garden style community at 121 East Wedgewood Avenue in Spokane, Washington. for $34.4 million.

 

“Spokane offers an excellent quality of life with top medical facilities, award-winning education, plentiful access to outdoor recreation activities and beautiful scenery that attracts residents from both out of state and the Seattle metro in search of a more affordable cost of living,” says Fisher.

  “Spokane’s annual population has exceeded the average rate of the United States for the past several years, and forecasts continued growth substantially above the national average.”

The asset is located less than four miles from Gonzaga University, Washington State University, and downtown Spokane, and near Spokane International Airport, Franklin Park, NorthTown Mall and popular ski destination, Mount Spokane.

 Serrano North and South offers a mix of studio, one-, two-, and three-bedroom units with fully equipped kitchens, large closets, private balconies and patios.

 On-site amenities include a swimming pool with sundeck, laundry facilities, clubhouse, detached garages and carports.

 Next Wave plans to reposition the property by renovating all 300 units with modern upgrades including: stainless steel appliances, lighting fixtures, plumbing fixtures, vinyl plank flooring in common areas, new carpet in bedrooms, resurfacing countertops, new cabinets and hardware, among other items.

 The firm will also implement improvements to the amenity areas and exterior to enhance curb appeal with new paint, roof maintenance, asphalt resurfacing, deck repairs and upgrades to the pool area and landscaping.

 

River Lofts, a 74-unit multifamily community at 18540 SW Boones Ferry Road in Tualatin, OR

 74-Unit River Lofts in Tualatin, OR

 Next Wave has also acquired River Lofts, a 74-unit multifamily community at 18540 SW Boones Ferry Road in Tualatin, Oregon, a southwestern suburb of the Portland metropolitan area, for $14.2 million.

 “River Lofts is the perfect setting for residents who enjoy a more quiet and rural community with easy access to the city,” explains Sloan.

  “Home to some of the best places to work in Oregon, Tualatin offers easy access to downtown Portland through the nearby MAX light rail, I-5 and TriMet’s public transit system.

  "Locally, the property is surrounded by retailers including the open-air Bridgeport Village shopping center.    There are also several scenic attractions nearby including the Tualatin River, Oswego Lake, and Tualatin’s River Greenway Trail.”

 The seller previously renovated eight units, leaving 66 units to be upgraded by Next Wave. Next Wave will renovate these units to a consistent premium finish-level.

 The property features a mix of one-, two-, and three-bedroom apartments with spacious floorplans that average 976 square feet, fully equipped kitchens and private balconies or patios, and select units offering views of the Tualatin River.

 Contacts:

Micaela Fehrenbach / Jenn Quader

Brower Group

(949) 438 6262

mfehrenbach@brower-group.com 

 www.nextwaveinvestors.com

Entrepreneur Accelerator Reaches Key Milestone for Women of Color

NEW YORK, NY -- With the aim of ending poverty through entrepreneurship, the Millionaire Mastermind Academy Pioneer Program reached its first key milestone in its entrepreneur accelerator program for women of color.  The fastest-growing entrepreneurship program for Minority women in the country, the Millionaire Mastermind Academy Pioneer Program is now focusing on helping women craft successful business plans after documenting their goals, mission, vision, values and business models.     The entrepreneurship program prepares women for sustainable success with college-level business training, mentorship, access to resources and an inclusive business growth environment. Seed funding grants of up to $5,000 are issued to select participants at the end of each program. “We have been able to share our program virtually and provide vital economic empowerment to women business owners across the country this year,” said founder Dr. Velma Trayham. “We are incredibly proud of the work and our participants, who are creating a more inclusive business world that create job opportunities and fosters opportunity for all.” The pandemic has been particularly hard on women, millions of whom have been forced to drop out of the workforce to manage childcare and elder care, and their workforce participation has dropped to just 57 percent, according to the National Women’s Law Center.  Senior Pastor Jamal Bryant With more than 40 percent of Black-owned businesses not expected to survive the pandemic, the statistics are even more dire for African-American women.  Companies participating in the 2020-’21 cohort include:   ·      AE Equity Group ·      Aems Publishing ·      Amand Tech ·      CJM Ventures ·      iCare Technology Geeks ·      DEE Results ·      Fine Companions and Sitters ·      Yahly’s Wax & Wellness Spa ·      Glam Scrubwear ·      Hollywood Athletic Club ·      Crushing Chemo Chic ·      Joppa Enterprise ·      Oh So Clean Atlanta ·      Party N Style ·      Scholars at Work ATL ·      Seniors Seeking Six Figures ·      Whitsett Maxie Creative Group ·      Gifts of Grace Ministries     The entrepreneurship accelerator curriculum was developed by Trayham, an award-winning entrepreneur and economic empowerment specialist as well as the CEO of ThinkZILLA Consulting Group, which helps businesses innovate and grow through diversity, and community engagement programming.  Through partnerships with Country Financial, New Birth Missionary Baptist Church under the leadership of Senior Pastor Jamal Bryant, and CEO of American Landmark Joe Lubeck, the program offers technical assistance and scholarships to help more women out of poverty. “We can combat poverty with education and entrepreneurship while supporting local economies and women alike,” Trayham added. “As we accelerate minority business ownership in the United States, we also spark the change that is so needed right now.”  Joe Lubeck The Millionaire Mastermind Academy Pioneer Program will expand to more cities in 2021 and 2022 with the help of corporate sponsors, donations and private investments. Applications for the next program cohort will be available soon.

About the Millionaire Mastermind Academy

 

The Millionaire Mastermind Academy is a 501(c)3 nonprofit whose mission is to educate and support the growth of women-owned business enterprises, thereby strengthening the economic impact in their community. We have mentored more than 5,000 women through our programs.

CONTACT:

888-509-1145 

Info@millionairemastermindacademy.org 

Studio Other and Elkus Manfredi Architects Create Smooth Sailing to Support a Flexible and Adaptive Workspace

 Elizabeth Lowrey

 

SANTA FE SPRINGS, CA – Studio Other (formerly Tangram Studio), a creator of custom solutions for commercial interior environments and workspaces, has announced the release of Smooth Sailing, a new product  created in collaboration with Elkus Manfredi Architects.

 Smooth Sailing is designed to support a flexible and adaptive workspace, with extensive options for use.

 Studio Other engineered Smooth Sailing while Elkus Manfredi Architects provided complete product design informed by expertise in workplace strategy. 

 “As office space becomes a tool for success rather than a status symbol, the furniture should be responsive to reconfiguration and technology integration without disruption," said Elizabeth Lowrey, Principal and Director of Interior Architecture for Elkus Manfredi Architects.

 “The ability to move the monitors from the individual seat to the collaboration table with the touch of a finger means no downtime adjusting to different tasks in one office."

 CONTACT:

 Rachel Devany

KCOMM

949-443-9300

rachel@kcomm.com

www.studioother.com

 www.elkus-manfredi.com

Shoreham hotel in Midtown Manhattan sold

 

Michele Mahl

NEW YORK, NY– JLL Hotels & Hospitality announced it has closed the sale of Shoreham, a 179-key boutique hotel located in Midtown, Manhattan, just minutes from both Central Park and the 5^th Ave. shopping corridor.

The sale represents the fifth asset JLL Hotels & Hospitality has advised on in New York City since September 2020.

 Nikhil Chuchra 

JLL represented the seller to complete the sale to a private buyer. The property was offered fully unencumbered of brand management and the buyer plans to continue operations as a hotel.

 The Shoreham totals 89,681 square feet and features a fitness center, business center and is pet-friendly.

 The hotel also includes over 2,000 square feet of meeting space and a restaurant, Aqua 55 and benefits not only from its location, but also from proximity to various perennial demand drivers, being situated near multiple theaters, the Rockefeller Center and leading office tenants, including Fortune 500 companies, financial institutions and media companies.

Jeffrey Davis

New York City has shown resilience throughout the pandemic, historically being one of the fastest cities to recovery following an economic downturn.

The sale represents continued investor interest in the New York City recovery story and comes as travel and visitation headwinds surrounding Manhattan grow increasingly more positive by the week.

 The JLL Hotels & Hospitality team representing the seller was led by Senior Managing Director Jeffrey Davis, Executive Vice Presidents KC Patel and Michele Mahl, Associate Nikhil Chuchra and Analyst Desmund Delaney.

 “Manhattan remains a focal point for hospitality capital as transaction activity begins to gain momentum,” said Patel. “Strategically located on 55^th and 5^th Ave., the Shoreham Hotel will draw demand from all corners of the Midtown market.”

KC Patel 

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide.

 The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 For more news, videos and research resources on JLL, please visit our newsroom.

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

Desmund Delaney

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.

 

CONTACT:

 Natalie Passarelli
PR, Americas

JLL

M +1 224 477 7307

JLL.com

Sale and financing completed for Forum Fitzsimons Apartments in Aurora, CO

 

Pamela Koster

DENVER, CO – JLL Capital Markets announced it closed the sale and arranged acquisition financing for Forum Fitzsimons, a 397-unit multi-housing property located in Aurora, Colorado.

 JLL represented the seller, a partnership between Sightway Capital, Catalina Development and Pollin Group, to complete the sale to the buyer, Avanti Residential. 

Forum Fitzsimons Apartments
 13650 East Colfax Avenue, Aurora, CO

JLL also worked on behalf of Avanti Residential to secure the acquisition financing through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Joshua Simon

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Joshua Simon and Jordan Robbins, Managing Director Pamela Koster, Senior Director Chris McColpin and Managing Director Matt Steffen, who also handled financing.

 Forum Fitzsimons was completed in 2018 and features a four-story, wrap construction. The property totals 317,961 rentable residential square feet and offers studio, one- and two-bedroom floorplan options.

Units feature granite countertops, 10’ and 12’ ceilings, custom cabinetry, vinyl flooring and contemporary appliances.

Community amenities include two swimming pools, business center, fitness center and outdoor courtyards with fireplaces. The property also has 28,226 square feet of ground floor retail space.

Jordan Robbins

 Located at 13650 E. Colfax Ave., Forum Fitzsimons is strategically situated near the area’s most prominent economic drivers and positioned in a recently completed residential mixed-use community.

The property is located across from the 18.5-million-square-foot Anschutz Medical Campus is proximate to the Fitzsimons Life Science District, Denver International Airport, the Buckley Air Force Base and just 10 miles from Downtown Denver.

 Also, in a transit-orientated location, Forum Fitzsimons is just one block from the Colfax Light Rail Station, granting access to Downtown Denver, the Denver Tech Center and the airport.

Chris McColpin

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 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 JLL

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

Matt Steffen

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.

JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, please visit jll.com.

CONTACT:

 Natalie Passarelli

PR, Americas

JLL

M +1 224 477 7307

JLL.com

 

InvenTrust Properties Corp. Announces Plans for Extensive Renovation of Gateway Market Center in St. Petersburg, FL

Kara Morabito

 

 ST. PETERSBURG, FL -- InvenTrust Properties Corp. ("IVT") announced plans for the extensive renovation of Gateway Market Center, a 231,058-square-foot shopping center anchored by Target and Publix, located at 7751-8229 9th Street N in St. Petersburg, Florida.

  Construction is scheduled to begin in the first quarter of 2022 with the renovation taking approximately 18 months to complete.

Dave Joss

"Gateway Market Center continues to evolve, as shown by the recent store renovations within Target and Publix, as well as the transformation of a former office supply store into Homegoods and Five Below," said Dave Joss, VP of Construction and Development for IVT

  "This redevelopment will right size retail stores, improve the connectivity within the site and provide numerous shopping center enhancements that elevate the overall customer experience.".

Matt Hagan

 Matt Hagan, InvenTrust Properties' VP Leasing Southeast and Kara Morabito, Leasing Representative, will oversee leasing at Gateway Market Center.

  IVT's improvements to the center include the demolition of approximately 60,000 square feet of existing building area and the construction of several new buildings. 

Two new anchor-sized buildings will be developed at the center while three new buildings for small shop tenants and restaurants will also be added. 

CONTACT:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

Buddy Freddy’s Restaurant in Plant City, FL Sold for $2 Million

 

Suzanne Wheaton

ORLANDO – Paul P. Partyka, CCIM, MiCP, CIPS, Partner at NAI Realvest,  represented the owners, Robert E. Wheaton and Suzanne Wheaton, in the sale of the former Buddy Freddy’s Restaurant property at 1101 Goldfinch Drive, Plant City, Florida. 

Robert E. Wheaton

The buyer, Brightwork Acquisitions, LLC, purchased the 1.68-acre property for $2,225,000.  The new owner plans to develop the site.  Matt Britten of Brightwork Real Estate, Inc. represented the buyer.

 “This iconic restaurant and mainstay in Plant City is another victim of the pandemic, but in its place will be a new Chick-fil-A” said Partyka.

 

CONTACTS:

 Paul P. Partyka, CCIM, MiCP, CIPS, Partner,

 NAI Realvest 407-875-9989, ppartyka@realvest.com

 Patrick Mahoney, President/CEO, NAI Realvest,

407-875-9989, pmahoney@realvest.com