Amazon to Lease 360K-SF ‘Highland Cross’ Industrial Site in Rutherford, NJ, Owned by Lincoln Equities Group

 

Jenna Hilzenrath

RUTHERFORD, N.J – Lincoln Equities Group (LEG), one of the Northeast’s leading full-service real estate companies, announced that multinational technology and logistics leader, Amazon, will occupy its future 360,000-square-foot industrial warehouse in Rutherford, N.J., Highland Cross.

“We are excited to continue to invest in New Jersey with a new delivery station in Rutherford that will provide efficient delivery for customers and create hundreds of great job opportunities for the talented local workforce,” said Amazon spokesperson Jenna Hilzenrath.

 

“This new delivery station represents Amazon’s unwavering commitment to safety, technological innovations and skilled teams who are obsessed with delivering for our customers.”

                                Lance Bergstein

The state-of-the-art last-mile distribution center, which will create hundreds of jobs, is in the heart of the bustling Meadowlands industrial market.

 

LEG procured $115 million in industrial build-to-suit construction financing for the facility, a Class A industrial site that recently received requisite approvals.

Joel Bergstein

 

Upon its completion in early-2022, Highland Cross will be on the short list of modern buildings in the Meadowlands, with less than 20 existing properties offering 36-foot-plus-clear heights.

 

 The property will feature cross-docked loading, 70-plus dock high doors and 80-plus trailer parks.

“Highland Cross is optimally positioned to capitalize on the sustained growth in demand for ‘last-mile’ industrial product proximate to consumers, labor and infrastructure,” said LEG Acquisitions and Development Officer Lance Bergstein.

 

“The lease is a continuation of the success LEG has felt in the industrial space of late, including our Bayonne site – which will be occupied by UPS.”

 “We’re thrilled that Amazon has selected our Rutherford facility for its latest delivery center,” said LEG President Joel Bergstein.

 

“We have been working with Rutherford for 20 years and are excited to see this project come to fruition and create a ratable for the borough. It was this administration that supported the vision for industrial.”

  CONTACT:

Dan Gunderman
Senior Account Executive

M 862.377.5106 P 646.586.9931 E dan@violetpr.com

Violet PR 7 N. Willow St, Suite 8C, Mailbox 11 Montclair, NJ 07042

www.violetpr.com

 

www.lincolnequities.com.

Beachwold Residential secures first supplemental loan for Ariel Springs in Spring Hill, FL

 

Mona Carlton

MIAMI, FL – JLL Capital Markets announced  it secured a $15.85 million financing for Ariel Springs, a garden-style, multi-housing property located in Spring Hill, Florida, about 50 miles north of Downtown Tampa.

 JLL represented the borrower, Beachwold Residential, to secure the fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Elliott Throne

Beachwold Residential acquired the property in Dec. 2018, landing $44 million in acquisition financing also through Freddie Mac.

 This financing is the first supplemental loan on the property, a result of the borrower’s capital enhancement, immense demand for quality, professionally managed apartments in the market, and the Tampa area’s rent growth through the pandemic.

The ability to repatriate equity through this substantial supplemental loan represents one of the many benefits of Freddie Mac financing.

 Ariel Springs is currently 97.7% occupied and consists of 470 one-, two- and three-bedroom units. Since acquisition, Beachwold Residential has invested nearly $3 million in renovations to both the interior and exterior of the highly-amenitized property.

Jesse Wright

Community features include a clubhouse, community car wash, entertainment area with a full kitchen, modern fitness center, swimming pool, business center and shuffleboard and basketball courts.

 Ariel Spring is located at 3454 Suncoast Villa Way, in the quaint city of Spring Hill, and in close proximity to various neighborhood amenities, including local dining and shopping, and direct access to the 42-mile Suncoast Bike Trail.

 The JLL Capital Markets team representing Beachwold was led by Senior Managing Directors Elliott Throne and Mona Carlton, Director Jesse Wright and Associate Kenny Cutler.

 “One of the many great attributes of an agency loan is the borrower can garner additional proceeds after improving the property’s NOI,” stated Throne.

Kenny Cutler

“Beachwold’s immense success at this asset has enabled them to pull out a significant amount of their equity thru additional financing from Freddie Mac at an interest rate very close to what they have on the original senior loan.”

 According to JLL’s latest United States Multi-Housing Outlook, the Tampa Bay multi-housing market held steady throughout 2020 and heading into 2021.

Occupancies remained at or above 95% over the past five years and overall remaining resilient amid the COVID-19 pandemic.

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

   CONTACT:

 Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

Beachwold.com.

 

LYND Acquires Miami Apartment Asset $40 Million

234-Unit Parc Place Apartments, Miami, FL

 

 MIAMI, FL  and SAN ANTONIO, TX --- LYND continues its robust investment activity in South Florida with the acquisition of a 234-unit garden-style apartment community in Miami. 

 The Texas-based multifamily investor, developer and operator paid $40.08 million for the Parc Place Apartments in an off-market transaction that closed June 8.

“Parc Place is the exact kind of value-add investment opportunity we specialize in,” said Constantine Scurtis, president of Lynd Acquisition Group, LYND’s investment division.

 Constantine Scurtis

“Taking a well-located property in an economically strong metropolitan area and utilizing our best-in-class management platform to make upgrades, and boost performance on behalf of our investors.”

Built in 1972, Parc Place features one, two and three-bedrooms units with an average unit size of 737 square feet. 

 While the property has undergone some renovation over the years, LYND plans a significant rehab of both living spaces and common areas. 

 LYND has earmarked a minimum of $2.25 million to upgrade the interiors, gym equipment, the pool area, add outdoor grilling stations, and introduce other new amenities.

David Lynd

LYND has managed more than 11,800 units in Florida over its history, owning more than 6,500 of them. The company has spent over $180 million in hard-construction costs over the years in renovation work.

“We are very bullish on Florida, especially South Florida,” said A. David Lynd, LYND’s CEO. “When you look at what’s happening in the region, several companies are moving here creating jobs.  Good jobs mean good renters.”

  CONTACT:

Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

O 954-370-8999

C 954-290-0810

 www.lynd.com.

 

Popular regional retail destination in Fort Collins, CO sells to local developer

Claudia Steeb 

 

DENVER, CO – JLL Capital Markets announced its involvement in the sale of Foothills Mall and College Avenue Shops at Foothills, two retail properties totaling 662,619 square feet in Fort Collins, Colorado, and assisted new owners in securing acquisition financing for Foothills.

 Bryan Ley

 Cordes & Company LLP, the court-appointed receiver of the property, was the seller. Joint-venture partners, McWhinney and Prism Places, purchased the assets.

Additionally, working on behalf of the new owner, JLL sourced the four-year floating-rate acquisition loan with a regional bank for College Avenue Shops at Foothills.

 Together, the 493,287-square-foot Foothills Mall and adjacent 169,332-square-foot Shops are leased to a diverse mix of national retail tenants, including Nordstrom Rack, Ross, ULTA, Athleta and Skechers, among others.

 Barry Brown 

This midtown location is a popular regional shopping destination in Fort Collins, a rapidly densifying northern Colorado community approximately 55 miles north of Denver.

 Fort Collins is home to technology, clean energy, aerospace and agri-tech companies along with the nearby 34,000-student Colorado State University, which is the second largest university in the state.

The community is rapidly densifying, with the area within 30 minutes of the property expanding 23% since 2019, with another 10% expected to add to its nearly 600,000 residents.

The retail properties are located at 215 E Foothills Pkwy, and benefit from its visibility from College Avenue, the primary north-south high traffic intersection in midtown Fort Collins.

Jason Schmidt

 The JLL Capital Markets Investment Sales Advisory team was led by Managing Director Bryan Ley, Senior Managing Director Barry Brown and Managing Directors Claudia Steeb and Jason Schmidt.

 “The Foothills transaction illustrated the robust demand from investors for high-quality, value-add retail investments and the interest in Colorado’s high-growth Front Range submarket,” said Ley.

“The sale process was incredibly competitive, and the new owners have an impressive development track record to enhance the asset.”

The JLL Capital Markets Debt Placement team representing the new owner included Senior Managing Director Eric Tupler, Managing Director Claudia Steeb and Senior Director Brock Yaffe.

Brock Yaffe

 

“Our involvement with the Foothills property dates back to the early 1990s, and we are excited to see how the new ownership transitions and repositions the project, which is one of the best locations within the broader Fort Collins market,” Tupler said. 

 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.

 Eric Tupler

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

Contact

 

Kimberly Steele,

JLL Senior Associate,

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Alliant National Title Insurance Earns 2021 Great Place to Work Certification

Sarah Lewis-Kulin

 

 Longmont, CO — Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, is proud to be Certified™ by Great Place to Work® for the fifth year in a row.

 

The prestigious designation is based entirely on what current Alliant National employees say about their experience working at the company.

 

 This year, 95 percent of employees said Alliant National is a great place to work – 36 points higher than the rating achieved by the average U.S. company.

 

“Great Place to Work Certification™ isn’t something that comes easily – it takes ongoing dedication to the employee experience,” said Sarah Lewis-Kulin, vice president of global recognition at Great Place to Work.

 

David Sinclair

“It’s the only official recognition determined by employees’ real-time reports of their company culture. Earning this designation means that Alliant National is one of the best companies to work for in the country.”

“At Alliant National, we’re more than simply a team; we’re a passionate group of professionals committed to our communities and to each other,” said David Sinclair, president and CEO of Alliant National.

 

“We work incredibly hard on our culture and strive for Alliant National to be a place where our employees enjoy coming to work each day. We want to empower them to deliver exceptional service to our agents.” 

 

 Contact

 

Cathie Beck
303.241.0805
cathie@capitalcitypr.com

Hotel Investment Pitch Competition Awards $50,000 in Deal Equity

 

Emma Claire Spring

McLEAN, VA, June 9, 2021—Officials of She Has A Deal (SHaD), a real estate investment platform that creates pathways to hotel ownership and development for women, today announced the winners of its event held Saturday. 

Over the last year, participants completed more than 12 hours of intensive hotel investment education to learn how to source, evaluate and raise capital for a real hotel deal.

Five teams were selected at a virtual preliminary round to move forward to the finals, where they pitched live to a judging panel of top-level hotel business executives, entrepreneurs and investors. 

Nadia Cismesia

Held at Hilton’s Innovation Gallery at the Hilton McLean, VA,, the event also was broadcast on the She Has a Deal website.

Polina Shavrina

Three prizes were awarded.  The Viewers’ Choice award, voted on by the livestream audience, was given to PEN Investments, comprised of Nadia Cismesia, Polina Shavrina, and Emma Toppi from Michigan State University.

Emma Toppi

Second place, a cash award of $5,000, was awarded to Eden Investment Management, made up of Angel Deng and Kayleen Fan.

 

Angel Deng 

The grand prize winner was Celeste Companies, the company named used by individual pitcher Emma Claire Spring.  Spring was awarded $50,000 in deal equity through SHaD Prosperity Fund I, a vehicle for investing in women-led hotel projects. 

Kayleen Fan

 

“I have dreamed of becoming a hotel owner since I was a little girl, and I’m proud to say that dream will now become a reality,” said Spring.

Noah Silverman

A graduate of Washington State University, Spring pitched a Delta Hotel conversion located in Chantilly, VA.  The existing property would undergo a renovation to add meeting space and an American-style casual dining concept. 

Tracy Prigmore

As part of her pitch, Spring went through the process of negotiating key money and identifying a management company with whom she would work.

 “I am so incredibly grateful for everything I’ve learned, the people I’ve met, and the confidence I’ve gained from this experience. This is just the beginning of my hotel ownership experience. I’m excited to see what the future brings and to continue breaking the glass ceiling,” said Spring.

Sponsors of the event are Marriott International and Hilton

According to Noah Silverman, global development officer for the US and Canada at Marriott International, "It was an incredibly inspiring day. The future of our industry is in good hands, and it’s clear that more and more of those hands will belong to women.”

 

“I’m so proud of Emma Claire.  All of the pitches were extraordinary, and she really put in the work to stand out. 

 

"For a solo pitcher to win just shows that, if you want something badly enough and are willing to work for it, big things can happen,” said Tracy Prigmore, founder of She Has a Deal. 

 

“After holding a scaled-back version of the pitch competition last year due to the pandemic, it was thrilling to be able to execute everything we envisioned. 

 

 "I am so grateful to our sponsors, especially founding sponsors Marriott International and Hilton, for helping us bring this to life,” said Prigmore.

 

Applications for the 2022 pitch competition will be accepted starting June 24, 2021; the deadline to apply is September 15.

 

 

 Contact

 

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 

chris@dalygray.com | www.dalygray.com