Actor Steven Seagal Selling 'Bulletproof' Home in Scottsdale, AZ for $3 Million

                          Steven Seagal

 

 DESERT MOUNTAIN, SCOTTSDALE, AZ -- Controversial and eccentric, actor and musician, martial arts guru and blessed with swoon-worthy good looks for his entire career, tough-guy Steven Seagal is selling his Scottsdale, Arizona home on Desert Mountain.

 With stunning views via the unusual safety of bulletproof glass, it has come to the market priced at $3.395 million.

 'Bulletproof' Home offers over 8,000 square feet
of space with four bedrooms and five baths,
while the 600-square-foot guest house
 has a living room, full kitchen
 and bedroom suite.

 

Seagal’s life story, from his days as a frail and asthmatic child to one of Hollywood’s all-time action stars, is like a novel almost too unbelievable to get published, according to TopTenRealEstateDeals.com

 Well known from his acting career in films such as Fire Down Below, Patriot and the television series he created, Steven Seagal: Lawman only scratched the surface of his varied talents.

 A master and instructor of the Japanese martial art of Aikido, he has made it a part of many films while his guitar skills have provided music for others.

Julianna Eriksen

Steven holds citizenship in three countries: United States, Russia and Serbia, where he owns a martial arts studio.

  He has been married four times and has seven children, has co-authored a book, The Way of the Shadow Wolves: The Deep State And The Hijacking Of America and has released two studio albums: Songs from the Crystal Cave and Mojo Priest.

Having lived most of his career out on a limb in the lap of controversy and issues with fellow actors and stunt workers, he is currently a little more tame in his pursuits putting his efforts into improving the environment and humane concern for animals.

Bob Nathan

 

The listing agents are Julianna Eriksen and Bob Nathan of Engel & Völkers, Scottsdale, Arizona.

CONTACT:  

Genelle C. Brown                                                       

Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  336-459-3728
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

 

YouTube:  https://youtu.be/bYKO-Um-YUo
Photo Credit:  Engel & Völkers
YouTube Credit:  Sean Evans, @evvo1991 backtothemovies.com/
Source:  TopTenRealEstateDeals.com

Source: www.carefreeretreat.com

 

EverWest Increases Portland, OR Industrial Presence with $10 Million Lombard Street Buy

Ryan Madson

 PORTLAND, OR – EverWest Real Estate Investors has acquired a 106,750-square-foot light industrial building at 10675 N. Lombard St. in Portland, Oregon for $10.05 million.

The acquisition is located on 5.34 acres in the South Rivergate submarket, immediately surrounded by the Port of Portland Terminals 4, 5 and 6.

“Limited new construction and a strong infill Port location keeps industrial demand for this area high and supports consistent year-over-year rent growth for this asset,” said EverWest Managing Director Ryan Madson.

“The building is flexible for single- or multi-tenant configurations, and able to accommodate sea, river and rail traffic.”

The Lombard Street building features up to 22’ clear height, 24 dock high doors and a 6,422-square-foot office area with a large employee breakroom, conference facilities and storage space. It is approximately five miles to Interstate 5 and less than 10 miles to downtown Portland.

Michael R. (Mike) Merino

Michael R. Merino, SIOR, of Colliers International represented the seller, Richards Homewares, Inc. 

The property was acquired as a five-year sale-leaseback, with Richards Homewares leasing 100 percent of the building.

EverWest is actively negotiating additional industrial acquisitions now in metro Portland and continues to seek out similar opportunities in key U.S. growth markets.

CONTACT:  

 

Stacey Hershauer

FocusAZ

480.600.0195

stacey@focusaz.com

www.everwest.com or

 www.gwlra.com.

 

Grocery-anchored retail center in Riverside, CA sells for $39 million

182,653-SF Magnolia Tyler Center shopping center, 
3650-3790 Tyler Street, Riverside, CA

 

 NEWPORT BEACH, CA – JLL Capital Markets announced it has closed the $39.4 million sale of Magnolia Tyler Center, a 182,653-square-foot, value-add shopping center anchored by Aldi, Bob’s Discount Furniture, Big Lots and Bed Bath & Beyond in Riverside, California.

Gleb Lvovich 

 JLL marketed the property on behalf of the seller, a private family that has owned the property for more than 50 years. Merlone Geier Partners acquired the asset.

 Magnolia Tyler Center is anchored by Aldi, the third largest supermarket chain in the U.S. by store count.

Currently 83% leased, the property created a value-add opportunity for the buyer to increase income through lease up and future rent growth.

The center is also home to a diverse mix of daily needs, national and local retailers, including Starbucks, Olive Garden and America’s Tire, among others. 

 Situated across from the Tyler Galleria Mall, which provides strong cross shopping to the existing tenants, Magnolia Tyler Center is at 3650-3790 Tyler St. at the southwest corner of Magnolia Avenue and Tyler Street, exposing the property to more than 63,000 vehicles per day.

Daniel Tyner

The center is adjacent to the 91 Freeway, which connects Orange County to the Inland Empire and pulls from a densely populated trade area that includes more than 260,000 residents within a five-mile radius.

Additionally, the property’s Riverside County location places it in the fastest-growing county in California.

 The JLL Retail Capital Markets team representing the seller was led by Managing Directors Gleb Lvovich and Director Daniel Tyner.

 “Investors are looking ahead beyond the COVID-19 pandemic and are expecting strong tenant demand and rent growth as the economy continues to re-open to a very well capitalized consumer base,” Lvovich said.

 “Magnolia Tyler Center’s immediate value-add potential created a unique opportunity for investors and proved that the demand for grocery-anchored centers is as strong as ever,” Tyner added.

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

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

 CONTACT: 

Kimberly Steele

JLL Senior Associate, Public Relations

Phone: +1 713 852-3420

Email:  Kimberly.Steele@am.jll.com

 

Evergreen Real Estate Group Acquires Affordable Housing Community in Downtown Cleveland; Plans $18 Million Historic Renovation

 

Carter Manor Apartments, 1012 East Prospect Avenue,
 Downtown Cleveland, OH

CHICAGO, IL and CLEVELAND, OH — Chicago-based Evergreen Real Estate Group, a leader in the acquisition, development, rehabilitation and management of both affordable and market-rate multifamily housing, announced it has acquired Carter Manor Apartments in downtown Cleveland.

 Evergreen plans to update the 270-unit apartment building through an $18 million capital improvement program that will preserve the building’s historic facade and restore other original design elements.

 

Located at 1012 E. Prospect Ave., the 11-story property comprises a mix of 33 studio, 209 one-bedroom and 28 two-bedroom apartments, all of which will be preserved as affordable housing for seniors and disabled individuals.

Kevin Beard

“Carter Manor is a natural addition to our growing portfolio of affordable and mixed-income housing communities, and I couldn’t think of a better way to enter the Cleveland market than by preserving this historic property,” said Kevin Beard, director of acquisitions for Evergreen Real Estate Group, which assumed management of the community following the acquisition.

 

“Our substantial investment in the building will benefit existing residents and ensure Carter Manor continues to serve the greater Cleveland community for years to come.”

 

Designed by architect Max Dunning, the building opened in 1917 as the luxurious 600-key Hotel Winton.

 

The hotel’s greatest claim to fame was its head chef, Ettore Boiardi, better known as Chef Boyardee.

Max Dunning

The property was redeveloped as an apartment building following a fire in 1971. The building’s facade is currently subject to a Historic Conservation Easement granted by Cleveland’s Historic Gateway Neighborhood and Historic Warehouse District.

In addition to the affordable apartments, Carter Manor also has three commercial tenants on the ground floor: Domino’s Pizza, Liberty Labor and Guardian Title and Guaranty Agency.

 

Evergreen Construction Company, an affiliate of Evergreen Real Estate Group, will serve as general contractor on the renovation work, with construction set to begin in June. Both residential and commercial tenants will remain in place during the redevelopment.

 

All apartments will be improved with refreshed kitchens, bathrooms and flooring. Additionally, 14 units will receive accessibility upgrades.

 

Evergreen also plans to modernize three of the building’s elevators, repair the facade and underground parking garage, replace the roof, and update major mechanical systems.

Ettore Boiardi, better known as Chef Boyardee

 

Common area renovations include the addition of a community kitchen and new paint and flooring in corridors.

 

“We have big plans for Carter Manor that will bring a new level of safety and comfort to residents,” said Andre Pintauro, president of Evergreen Construction Company.

 

“Our experience with in-place renovations will minimize disruption to residents and commercial tenants, and our affiliation with ownership allows us to leverage efficiencies as we work toward a target completion date of December 2022.”

 

The acquisition and renovation of Carter Manor was financed using low-income housing tax credits syndicated by CREA LLC, pre-development financing from Local Initiatives Support Corporation, a bridge loan from Huntington National Bank, and construction financing provided by KeyBank and Freddie Mac.

Andre Pintauro

Downtown Cleveland has experienced significant population growth in recent years, with the population more than doubling between 2000 and 2017. 

Carter Manor is surrounded by restaurants, just one block from Progressive Field, home of the Cleveland Indians MLB team, and two blocks from Quicken Loans Arena, home of the Cleveland Cavaliers NBA team.

 

 

 

CONTACTS: 

Kathryn Kjarsgaard, kkjarsgaard@taylorjohnson.com

 (312) 267-4514

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

 www.evergreenreg.com.

 

Torch.AI Announces Plans to Expand Operations and Create Nearly 500 Jobs in Huge Boost to Kansas City’s Tech and Cyber Sector

Kansas Gov. Laura Kelly

 

 Leawood, KS, May 7, 2021 –  Torch.AI, a leading global artificial intelligence (AI) firm that uses machine learning to enable massively scaled, ultra-high performance data processing, announced today plans to make a significant and sustained economic investment in the Kansas City region, committing to creating nearly 500 full-time jobs over five years as part of a $27 million tax incentive package awarded by the Kansas Department of Commerce.

 “Kansas is a great place for businesses to prosper with our strong public schools, investments in roads and bridges and economic development tools,” Governor Laura Kelly said.

 “I can think of no better place for Torch.AI to grow. They will bring sophisticated, high-wage tech jobs, and their decision to locate this expansion in our state enhances our pedigree as a destination for forward-thinking tech experts.

 "I look forward to seeing the incredible developments that will undoubtedly come from this new facility.”

 Kansas Lieutenant Governor
and Commerce Secretary David Toland

Torch.AI will hire more than 100 new professionals this year alone with an average salary of more than $100,000. The roles range from early career associate engineer and junior data scientist to experienced hires such as top engineering and sales positions.

 As part of its commitment to Kansas, Torch.AI is also making a significant capital investment in collaborative workspaces for its employees including plans to relocate key talent to Kansas City.

 “Congratulations to Torch.AI on this extraordinary announcement,” Lieutenant Governor and Commerce Secretary David Toland said. “Investing in the future is the purpose behind our new Framework for Growth, and Torch.AI’s work with machine learning and artificial intelligence is a prime example.

 "Thanks to the city of Leawood and to Torch.AI for making this major success happen in Kansas.”

 

Brian Weaver

“It’s an honor to align the growth trajectory of Torch.AI with Kansas initiatives to expand its economy and regional impact as a tech hub,” said Brian Weaver, founder, chairman and CEO of Torch.AI.

 “Demand for our advanced AI and data services continues to grow as the intelligence and security communities attempt to organize and analyze unprecedented levels of data.

 "We’ve long known there is untapped talent here in the region that can help the government and commercial sectors solve significant challenges.

"This agreement represents our commitment to harness the wealth of experience and skillsets in the Kansas City region and develop new talent to expand our capabilities and customer impact.”

Tim Cowden

“Torch.AI’s commitment to create hundreds of new jobs in the Kansas City region further optimizes our strengths as a vibrant tech hub with a growing presence in cybersecurity, AI and machine learning,” Kansas City Area Development Council president and CEO Tim Cowden said. 

 “It’s critical to not only grow existing companies but also attract emerging enterprises like Torch.AI that are highly sought after by regions across the U.S. This is truly exciting news for our region and a precursor of what can be for KC.”   

 

 Peggy Dunn, Mayor of Leawood, KS

“We competed with Southern California, Washington D.C. and New York City to secure these high-paying technology jobs, and we’re pleased that Torch.AI selected Leawood to continue its growth and innovation in data science and artificial intelligence,” Mayor of Leawood Peggy Dunn said.

 Today’s announcement comes on the heels of Torch.AI’s recent $30 million raise in Series A funding to accelerate its overall growth strategy.

 For individuals interested in learning more about current job opportunities at Torch.AI, please visit https://www.torch.ai/company#careers.

 To read more about the details of Kansas incentive programs, please visit https://www.kansascommerce.gov/program/business-incentives-and-services/.

  To learn more about the company’s vision for unifying AI, visit Torch.AI.

Kansas City 

 Home to 2.5 million people, Kansas City is a vibrant metro in the heart of the U.S., known as “KC Heartland.” KC is a center for leading industries including eCommerce, technology, animal health, entrepreneurship, and is home to a renowned arts community.

 Please visit KC.org and follow @KCHeartland for more details.

 CONTACT: 

Christina Forrest

Account Director

Violet PR

7 N Willow St

Suite 8C, Mailbox 11

Montclair, NJ 07042

646.586.9932 (direct)

201.790.1179 (cell)

www.violetpr.com

 thinkKC.com.

 

 

Real Estate Capital Institute Sees Favorable Financing Reemerging Even as Fewer New Projects Come Online

John Oharenko

 

 Chicago, IL - The nation reaches a milestone of one-third of the population vaccinated while financial markets hit new high records.  

• Rising interest rates accompanied by tightened pricing and profit expectations prevail.  
• 
  
• Fewer new real estate projects come online due to pandemic uncertainty and increasing construction costs.  

Other key real estate capital trends include:

 Favorable Financing Reemerges:  Lenders see limited losses from the pandemic, readjusting expectations of improving economic conditions.  As a result, even as interest rates rise, mortgage spreads drop.  Borrowers still capture desirable debt terms, staying within the 3.5%-range for longer-term debt based on 65% or less debt.  Proven cash flow performance drives leverage and pricing terms.

Prices Stubbornly High:Due to limited inventory, cap rates drift downward.  Investors refuse to sell highly performing assets. 

 Buyers simultaneously chase down yields for the few investments listed on the market.   As prime multifamily and industrial cap rates declined by as much as fifty basis points from last year, the feeding frenzy continues.  

Furthermore, lodging assets recapture pricing with improving economic conditions. 

 Lastly, retail and office properties remain highly speculative as consumer shopping and workplace habits evolve.

Longer Holding Periods:  With fewer investment opportunities available, owners recalibrate holding term expectations to include longer cycles.  For instance, shorter-term holds spanning three to five years expand by two years or more.

 John Oharenko of the Real Estate Capital Institute® notes, "Quick-flip profits based on shorter-term cycles rarely exist today, as more sophisticated investors scour markets for deal flow."

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  

 CONTACT:

John Oharenko, Executive Director

john.oharenko@reci.com

director@reci.com / www.reci.com

^The   Real Estate Capital Institute^®

Chicago, Illinois USA 60622