Ascent Golf Villas in Scottsdale, AZ Exceeds $40 Million in Sales, Highlighting Demand for Luxury Properties

Leslie Jenkins

 SCOTTSDALE, AZ, May 14, 2021 – Ascent at The Phoenician® is now releasing its luxury mountainside condominium residences for sale following the early sales success of its Golf Villa homes. 

Situated at the base of Camelback Mountain, overlooking the Phoenician® Golf Course and located adjacent to The Phoenician®, a Luxury Collection Resort in Scottsdale, Arizona, the private, gated community of Ascent has become one of Arizona’s most coveted new luxury real estate offerings. 

Joe Bushong and Leslie Jenkins of Russ Lyon Sotheby’s International Realty are the listing agents for Ascent at The Phoenician®.

Following the community’s early sales success of the Golf Villas, Ascent at The Phoenician® is now introducing their next release: an intimate residential building of 40 luxury condominium residences on Camelback Mountain consisting of one-bedroom plus den, two-bedroom, two-bedroom plus den, and three-bedroom plus den plans. 

Joe Bushong 

Prices are estimated to range from $1.5 million up to $5 million. An opportunity to get on the VIP Priority List to receive early information, plans, and preliminary pricing is now open.

 “These modern residences offer buyers the chance to live in a private, gated community that provides the freedom and benefits of luxury living in one of the most revered locations in Scottsdale,” said Todd Patrick, Replay Destinations’ vice president of sales and marketing. 

The Ascent Golf Villas have sold over $40M just two months after opening for sales. The initial offering of 30 Ascent Golf Villas began selling in mid-February. 

Todd Patrick

The Golf Villas include homes ranging from two-bedroom to three-bedroom plus den/office plans, extensive indoor-outdoor living, private two-car garages, and views of both the golf course and Camelback Mountain. Current prices range from $1,975,000 to $2,895,000. Construction of the Golf Villas is now underway.

“The ability to live in a private community adjacent to The Phoenician®, overlooking the first fairway of The Phoenician® Golf Course, next to Camelback Mountain and in a home that offers the rare combination of both luxury and low maintenance living is a once in a lifetime opportunity,” said Jeremy Pfile, director of development for Replay Destinations. 

Jeremy Pfile

The Ascent Golf Villas have attracted buyers from the local Phoenix and Scottsdale area and from various states such as California, Illinois, Wyoming and Washington.

 

 For more information on the remaining Golf Villa homes or to register for updates including Priority Registration for the first release of mountainside condominium residences visit ascentatthephoenician.com or call 480-534-4086.

 

 

CONTACTS:

Michelle McGinty, DRA Collective

Tel: (310) 704-7834

michelle@dracollective.com

 www.replaydestinations.com 

Rachael Myer Curley, Account Director      
717 E. Maryland Ave., Suite 110 | Phoenix, AZ 85014 
Ph: 602.956.8834 | C: 480.560.3255
www.dracollective.com

 

Beachwold Residential acquires 280-unit Alvista Willow Brook Apartments in Meriden, CT

Mona Carlton

 

MIAMI, FL, May 13, 2021 – JLL Capital Markets announced today it arranged a $28.5 million acquisition financing for Alvista Willow Brook, a 180-unit multi-housing property located in Meriden, Connecticut, that will now go by the name The Arlo.

 JLL represented the borrower, Beachwold Residential, to secure the acquisition financing through the lender, Sound Point Capital. The Sound Point Capital team was represented by Jordan Heller and Marc Tolchin.

 

  280-unit Alvista Willow Brook Apartments, Meriden, CT
Changed name to The Arlo

The Arlo was built in 2005 and has continuously received upgrades in recent years. The property consists of studio, one- and two-bedroom units boasting open and oversized floorplans.

 There are also 12 two-bedroom townhomes at the property. Community amenities include a clubhouse, fitness center, swimming pool, business center and dog park.

Jordan Heller

The Arlo sits at the crossroads of I-91, I-691 and Merritt Parkway, creating excellent regional access.

 Meriden is roughly equidistant between New Haven and Hartford, the two largest cities in Connecticut, allowing connectivity to several key employment hubs.

 For example, the world headquarters of both Aetna and The Hartford are roughly 21 miles away. The property is also just four miles from Meriden’s downtown area and the Midstate Medical Center, a major 156-bed acute care hospital.

 The JLL Capital Markets team was led by Senior Managing Directors Elliott Throne and Mona Carlton, Vice President Alex Staikos and Director Jesse Wright.

 “Beachwold was able to secure great acquisition bridge financing at a time when the capital markets started getting incredibly aggressive,” stated Staikos.

Marc Tolchin

 “This will enable them to further enhance the asset and its value as they have done at the dozen other assets they own in the surrounding Connecticut market.”

 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 deliver 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.

 

Elliott Throne 

About Beachwold Residential

 Beachwold Residential and its principals have built, owned and managed multifamily properties for 40 years. 

The firm controls 57 properties and 15,000 multifamily units in Connecticut, Texas, Florida, Georgia, Virginia, Maryland, New Jersey and Tennessee. 

 About Sound Point Capital Management, LP

Sound Point is an alternative asset management firm founded in 2008 with particular expertise in credit strategies. 

Based in New York, with offices in London, the firm manages money on behalf of institutional investors including top-tier pensions, foundations, insurance companies, wealth management firms and family offices.

Alex Staikos

Sound Point's strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate. 

Sound Point currently manages approximately $25 billion of assets. 

Five principals of Stone Point Capital LLC, as well as Dyal Capital Partners, an affiliate of Neuberger Berman Group, are strategic investors in our business. For more information, please visit Sound Point's website at www.soundpointcap.com.

Jesse Wright

 

CONTACT:

 

Natalie Passarelli

 JLL Senior Associate

Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

Beachwold.com.

jll.com.

 

JLL Capital Markets secures $82.57 million construction financing for the 472-unit Marlow apartments in downtown Columbia, MD

 

Rendering of planned Marlow apartments, 
Downtown, Columbia, MD

WASHINGTON DC, May 13, 2021 –

Mark Gibson

 JLL Capital Markets announced today it secured a $82.57 million construction loan for development of the Marlow apartments, a 472-unit community with 32,340 square feet of ground-floor retail located in downtown Columbia, Maryland.

JLL worked on behalf of the borrower, an affiliate of The Howard Hughes Corporation, to secure the floating-rate construction loan for an initial term of four years with a one-year extension.

 The planned Marlow apartments will be part of the larger 14 million-square-foot master planned development for downtown Columbia.

Jamie Leachman

Marlow will be one aspect of the larger Merriweather District micro market, which will ultimately total 2.3 million square feet of office space, 320,000 square feet of retail, 1,900 multi-housing units, a 250-room hotel, a community pavilion and about 60 acres of open space.

 Initial delivery of the apartments is expected in Fall 2022 and will enhance the placemaking and street scape of the larger Meriweather District.

This will be the fifth property delivered by The Howard Hughes Corporation in this micro market, following the delivery of the adjacent 382-unit Juniper apartments in 2020 and the 321,000-square-foot, Class A 6100 Meriweather office building in 2019, home of the Tenable world headquarters.

Drake Greer 

 Located at 6200 Valencia Lane, Marlow will total 510,181 rentable square feet and include studio, one-, two- and three-bedroom floorplans, in addition to eight loft units with two-story layouts, which will be completely unique to the marketplace.

 The Merriweather District cradles Symphony Woods, a 40-acre parkland area, and Merriweather Post Pavilion, a renowned music and community venue that’s hosted various artists, including Jimi Hendrix, Willie Nelson, Foo Fighters and Florence + The Machine.

Jackson Cabot

Also touted as the “heart and soul” of the third city between Baltimore and Washington D.C., this area is part of The Howard Hughes Corporation’s long-term renaissance vision for downtown Columbia.

 The JLL Capital Markets team representing the borrower was led by Mark Gibson, Jamie Leachman, Drake Greer and Jackson Cabot.

 

“The Marlow will be yet another transformational project to this master planned community within Columbia,” said Leachman.

Jimi Hendrix

“Howard Hughes’ commitment to its long-term vision coupled with more and more liquidity returning to the market on a weekly basis was reflected in the strong response from the lending community through marketing process.”

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.

Willie Nelson

About The Howard Hughes Corp.

The Howard Hughes Corporation owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S.

Its award-winning assets include the country's preeminent portfolio of master planned communities, as well as operating properties and development opportunities.

They include the Seaport District in New York; Columbia, Maryland; The Woodlands^®, The Woodlands Hills^®, and Bridgeland^® in the Greater Houston, Texas area; Summerlin^®, Las Vegas; and Ward Village^® in Honolulu, Hawai'i.

CONTACT:

Natalie Passarelli

 JLL Senior Associate

Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 

Ware Malcomb Announces Jimena Fernandez Navarra Joins Firm as Director, Interior Architecture & Design in Mexico City

Jimena Fernandez Navarra 

 

 MEXICO CITY, May 13, 2021 – Ware Malcomb, an award-winning international design firm, today announced that Jimena Fernandez Navarra has joined the firm as Director, Interior Architecture & Design for the Mexico City office. 

In this role, Fernandez is responsible for the growth and management of the Interior Architecture & Design Studio and oversees all interiors projects for the Mexico City office. 

Fernandez brings over 18 years of interior architecture and design expertise to the Ware Malcomb team. She has designed more than 2,000,000 square meters of projects, and has extensive experience in the office, hospitality, retail and residential sectors.

Andres Galvis

 Fernandez is well known as a thought leader in the design industry and has led many award-winning projects throughout her career. 

“We are excited to welcome Jimena to our team in Mexico City,” said Andres Galvis, Regional Director, Latin America. “Her thought leadership in the design industry will elevate our interior architecture and design offerings in this dynamic market.” 

Fernandez was recently named Top Ten Best Architects in Mexico by Expansion Magazine and El Heraldo de Mexico in 2021.

 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 

 

Investor purchases recently renovated suburban Portland, OR office property

 

Logan Greer

 PORTLAND, OR, May 12, 2021 – JLL Capital Markets announced today that it has closed the sale of 5550 Macadam, a 43,151-square-foot, suburban office building in Portland, Oregon.

5550 Macadam, Portland, OR

 JLL represented the sellers, ScanlanKemperBard and WHI Real Estate Partners, and procured a local private buyer, advised by City and State Real Estate.

 Recently renovated in 2019, 5550 Macadam is a three-story building with updated common areas, locker rooms and restrooms, a modern light filled lobby and lush landscaping.

The property offers 14,000-square-foot floorplates and is 89% leased with current tenants averaging 9.8 years of occupancy.

Buzz Ellis

5550 Macadam is positioned within the Southwest Close-In submarket of Portland, and more specifically, the Johns Landing micro market, which offers easy access to the central business district and Portland’s freeway system.

This area is also highly amenitized with a variety of restaurants, hotels and retailers and is located just one mile south from Oregon Health & Science University’s South Waterfront campus expansion.

Adam Taylor

The JLL Capital Markets team representing the seller was led by Buzz Ellis, Logan Greer and Adam Taylor.

 “This offering generated a significant amount of investor interest as the office market starts to return to pre-COVID levels,” Ellis said.

 “5550 Macadam has an outstanding urban location with high accessibility and suburban conveniences that was attractive to many buyers.”

CONTACT:

Kristen Murphy

Senior Manager

Public Relations

 Investor Services JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

 jll.com

skbcos.com.

whirep.com.

 

 

KBS Breaks Ground on $22 Million Renovation Project for 40-Story Class A Office Tower in Chicago, IL

 

Accenture Tower, a Class A, 40-story, 1.46 million square-foot
office tower in downtown Chicago, IL

 CHICAGO, IL, May 12, 2021 – KBS, one of the largest owners of commercial real estate in the U.S., has broken ground on a $22 million renovation project at Accenture Tower, a Class A, 40-story, 1.46 million square-foot office tower in downtown Chicago, Illinois.

  Accenture Tower is owned by KBS Real Estate Investment Trust III.

 

Wendy Katz 

Wendy Katz and Matt Lerner of Stream Realty are handling leasing services for Accenture Tower on behalf of KBS.

 KBS is working with Leopardo Companies on the planned upgrades.

 Planned upgrades include a new hospitality-inspired office lobby, conference center with pre-function area, a modern tenant lounge with 19’ ceiling, featuring an outdoor deck with a variety of seating options, fire pit, fully functional bar, and more designed by Chicago-based GREC Architects.

Matt Lerner

According to Dan Park, senior vice president at KBS and asset manager for Accenture Tower, these renovations strategically align with today’s top office users in the Chicago market and position the property for long-term growth.

 “Accenture Tower is located in one of the most resilient central business districts in the country, with high-end amenities that offer a one-of-a-kind tenant experience in the market,” says Park.

Dan Park

“The new upgrades will make an already iconic property even more appealing for companies as they return to their workspaces.”

 In addition to the building upgrades, KBS is continuing its signature spec suite program by adding 90,000 square feet of new and progressive spec suites, which involves building out tenant suites without a committed tenant.

David A. Ervin

   The planned renovations will further elevate Accenture Tower’s position as one of the most desirable high-rise buildings to occupy space in the downtown Chicago market, according to David A. Ervin, managing principle of GREC, architect for the renovation project.

 “Accenture Tower is already on Downtown Chicago office users’ short list of buildings where they want to be located,” says Ervin.

 “The upgrades we have designed will make this property even more compelling as companies seek superior office space that helps them attract and retain talent to remain competitive in their industries.”

Bill Stephan

 Built in 1987, Accenture Tower is a Class A LEED Gold-certified building that has earned The Outstanding Building of the Year (TOBY) Award Internationally by The Building Owner and Managers Association. 

“KBS is creating an entirely new setting at Accenture Tower,” says Bill Stephan, vice president of Leopardo. “With a new garden-like outdoor deck with a variety of seating areas surrounded by lush landscaping, and a stunning new lobby, the building will be one of the most attractive and flexible workspaces in the Downtown Chicago marketplace.”

CONTACT:

  Katie Haga

 khaga@brower-group.com

 www.kbs.com.

 

 

Five--property seniors housing portfolio in Southeast Florida purchased for $64 million

Allison Holland

 

ORLANDO, FL, May 12, 2021 – JLL Capital Markets announced today it has closed the $64 million sale of a five-property seniors housing portfolio with properties located throughout Southeast Florida.

 JLL represented an undisclosed seller to complete the sale to the buyer, an affiliate of Fortress Investment Group LLC.

Cody Tremper

JLL is also working on the buyer’s behalf to secure the acquisition financing. 

All properties are managed by Florida-based Sonata Senior Living, who has operated the communities for more than three years and will continue to manage the properties going forward.

 Pete Stone, Managing Director at Fortress Investment Group, says, “We are excited about working with Stuart Beebe and the talented management team at Sonata on the Southeast Florida portfolio. 

"We believe the portfolio is well positioned to benefit from the strong demographic trends in South Florida particularly from the accelerating trend of migration of seniors to Palm Beach county.”

Mike Garbers

The portfolio includes five Sonata properties totaling 444 units in Delray Beach (80 units), Boynton Beach (92 units), Boca Raton (74 units), Coconut Creek (94 units) and Vero Beach (104 units).

 All properties were well-maintained by the previous owner, undergoing over $13 million in capital expenditures over the past four years, including exterior building improvements, furnishing upgrades, new flooring, roof repair, conversions from assisted living to memory care and new generators to comply with Florida regulations.

 The JLL Capital Markets team representing the seller was led by Managing Directors Mike Garbers and Cody Tremper. Financing is being led by Managing Director Allison Holland.

CONTACT:

Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com