Leon McBroom appointed co-head of JLL’s Denver Capital Markets group

 

Leon McBroom 

DENVER, CO, Jan. 4, 2022 – JLL Capital Markets has appointed Leon McBroom Senior Managing Director and co-head of its Denver Capital Markets group.

 

McBroom will oversee the debt and equity advisory platform, while Senior Managing Director Eric Tupler will continue to oversee the office’s investment sales advisory practice.

 

McBroom joined JLL in 2019 through the HFF/JLL merger and has more than a decade of commercial real estate financing experience.

 

Over the course of his career, he has successfully closed more than $7 billion of debt and equity commercial real estate transactions across a wide variety of property types, including office, retail, hospitality, industrial and multi-housing.

 

McBroom is an active board member for the University of Colorado Real Estate Center and has chaired the University’s internship and placement committee.

Eric Tupler

 

He is a graduate of the University of Colorado, holding both a Bachelor of Arts and Master of Business Administration degree.

 

“Leon joined our team in 2012 and has been an incredible team player over the years,” Tupler said. “It’s an honor to now co-lead the Denver office alongside him.

 

"I have no doubt he will bring an elevated level of service to the debt and equity advisory practice as we continue to provide complex financing solutions for our client base.”

 

“The JLL Denver Debt and Equity advisory platform has had a No. 1 market share ever since Eric Tupler opened the office in 2012,” McBroom said.

 

“His leadership and mentorship have been foundations for our success, and I look forward to building off of that alongside my fellow teammates.”

 

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

 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

 

KBS Signs 16,995 Square-Foot Long-Term Lease Agreement with Global Manufacturer at 155,385 Square-Foot Office Property in Chicago, IL

 

213 West Institute Place, a seven-story,
 155,385 square-foot office property
River North neighborhood
 downtown Chicago, IL

CHICAGO, IL – KBS, one of the largest investors in commercial real estate, has signed a 16,995 square-foot long-term lease agreement with LifeSpice Ingredients, a global research, developer and manufacturer of proprietary seasoning blends for the food industry, at 213 West Institute Place, a seven-story, 155,385 square-foot office property in the highly desirable River North neighborhood of downtown Chicago, IL

Marc DeLuca

213 West Institute Place is owned by KBS Growth & Income Real Estate Investment Trust. 213 West Institute Place is located at 213 West Institute Place in Chicago, Illinois.

 “213 West Institute Place is a unique Chicago asset that offers tenants a great location and a unique combination of contemporary and retro setting,” says Marc DeLuca, Eastern regional president for KBS.

 “Design and location-wise, it is the kind of building where discerning tenants in this market like LifeSpice Ingredients want to be located.”

 

Directly across the river from the Loop, the River North section in which the property is situated is home to dozens of high-end art and design galleries, dining establishments, luxe shops, high-end cocktail bars and nightlife spots. 

Dan Park

The area offers a unique aesthetic of art galleries tucked away in former warehouse buildings and features the Chicago Riverwalk promenade.

 

213 West Institute Place is located within steps of Chicago’s elevated train service, several bus stations, Divvy Bike ports, two parks, restaurants, coffee shops, grocery stores, spas, fitness centers and hotels.

 

“Along with this building’s eye-catching design is its close proximity to shopping and services, dining, hospitality, entertainment and transportation,” says Dan Park, asset manager for 213 West Institute Place and senior vice president of KBS. “It’s the walkability, convenience and visual appeal that so many Chicago office users are seeking.”

Peter Garvey

“213 West Institute is in a beautiful neighborhood with plenty of dining options, public parks, and quick access to public transit. LifeSpice thrives in a space that promotes creativity and the building checks all of our boxes for amenities, design, and function that we want and need in a new office space,” says Peter Garvy, president of LifeSpice Ingredients.

 Scott Sessa (ssessa@askameritus.com) of Ameritus represented KBS in the lease transaction.

 

“The improvements KBS has implemented to 213 West Institute Place have elevated it to a best-in-class brick and timber building that has made a name for itself in downtown Chicago,” says Sessa.

 

CONTACT:

ARLEENY ESCARCEGA Associate Account Manager The Smart Agency, Inc.   O 949 438 6262 Ext. 0 | C 714 552 5845 E aescarcega@thesmartagency.com |  W thesmartagency.com HQ 220 Newport Center Drive, Suite 22, Newport Beach, CA 92660

MCSS Self-Storage Sells 500,000-SF South Florida Portfolio

Jay Massirman 

 MIAMI, FL, Jan. 3, 2022 – MCSS Self-Storage Development & Investment, a joint venture between Rivergate Companies and SJM Partners, announces the successful disposition of a portfolio of six South Florida self-storage facilities to an institutional buyer.

Aaron Swerdlin

The transaction involved facilities developed by MCSS in Miami-Dade and Broward counties.

 

MCSS completed construction of the facilities, located in Miami’s Coconut Grove, Midtown and Upper East Side neighborhoods; Davie; Fort Lauderdale; and Hallandale Beach; in 2018 and 2019.

                          36 Street self-storage facility

The facilities have a combined 6,197 units totaling 517,632 square feet of rentable self-storage space. Occupancy across the portfolio is 90%, and the average population within a 3-mile radius of the facilities is 188,224.

                     28 Lane self-storage facility

 

The portfolio sale closed in December 2021. Financial terms were not disclosed.

 

“As one of the industry’s most active self-storage developers, we have amassed a substantial nationwide portfolio of projects and completed facilities,” MCSS Managing Partner Jay Massirman said.

 

“We periodically consider strategic sales, like the latest portfolio transaction in South Florida, as we move forward with several new projects.

                   Davie, FL self-storage facility

"Our new venture, WMG Partners, currently has 15 development projects in the pipeline located in core U.S. markets and is actively acquiring small bay and last mile warehousing and development sites.” 

 

Aaron Swerdlin of Newmark’s Houston office arranged the portfolio sale on behalf of MCSS.

 

 

 

 

CONTACT:

 

Eric Kalis

Vice President

BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

ww.mcssproperties.com.

Western Academy Charter School Buys 61,566-SF Facility in The Village of Royal Palm Beach, FL

Linda Terranova

ROYAL PALM BEACH, FL – Western Academy Charter School  has closed on its purchase of a 61,566 square foot space at 12031 Southern Boulevard in The Village of Royal Palm Beach, just one mile from its current location. 

The acquisition will enable Western Academy to consolidate operations into one facility, expand enrollment, and enhance the award-winning academics and services it provides to students in the local community. 

Building Hope Services President Richard Moreno served as a financial advisor in connection with the transaction. 

Building Hope, a non-profit foundation dedicated to creating high-quality K-12 charter school opportunities for students through its expertise in real estate, finance and operational services.

Richard Moreno

Western Academy Charter School officially opened in September 2003 with a mission to equip all children with the skills necessary for success on both an educational and social level. 

The school’s curriculum, which currently serves 510 Kindergarten through 8th grade students, addresses the whole child through a multi sensory approach to learning. The school has consistently earned recognition for its successful programs and outcomes.

“This is really a dream come true!” said Executive Director Linda Terranova, Western Academy Charter School. “Just as our 20th anniversary approaches, we will be growing into a larger facility with programs and services to provide even more local children with the high quality education for which we are known. We are all very excited.”

Western Academy Charter School
The Village of Royal Palm Beach, FL

Western Academy Charter School’s philosophy centers on the belief that both the family and the community are essential participants in the education of children, and that together, they help children become socially adept individuals with self confidence, self respect, compassion and respect for others and their community.

The move will support the school’s four-year growth plan to an enrollment of 800 Kindergarten through 8th grade students. 

Located in Royal Palm Beach, Western Academy Charter School serves students who reside in Wellington, Royal Palm Beach, Loxahatchee, Western Lake Worth and Lantana. 

Martha Holler

The school will increase the enrollment in phases to ensure its unique and positive school culture is maintained as it grows. 

Now that the purchase is complete, the school will begin interior renovations and improvements. The new building will be open for the start of the 22/23 school year. 

The Village Council recently approved Western Academy’s plan noting that the project is beneficial to the community. 

Martha Holler

Founder, ShinePR

ShinePR for Building Hope
PR@buildinghope.org

 610.388.0379 (o)

610.620.4264 (m)

www.shinepr.com

Trion Properties Continues Southeast Expansion with Acquisition of 312-Unit Multifamily Community in Charleston, SC

Latitude at West Ashley apartments 
735 Ashley Hall Road
Charleston, SC 29407  

 

CHARLESTON, SC, Dec. 30, 2021 – Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in multifamily investments, has expanded its Southeast presence with the acquisition of Latitude at West Ashley, a 312-unit multifamily community in Charleston, South Carolina for $51.8 million.  

 The firm entered the Southeast market in September with the acquisition of Crescent Commons, a 288-unit multifamily community in Fayetteville, North Carolina, followed by the purchase of Patterson Court, a 384-unit luxury multifamily community in Orlando, Florida, in November. 

Max Sharkansky

This continued growth within the region speaks to the firm’s strong reputation and ability to rapidly expand into new markets based on strong relationships and a deep understanding of the multifamily investment market and trends, according to Max Sharkansky, Managing Partner at Trion Properties.  

“Charleston is a lucrative market that we have been actively looking to expand into as we continue to strategically acquire properties in areas that have proven resiliency and are experiencing population and employment growth,” says Sharkansky.

 “Latitude is an ideal asset as it’s situated on the east side of the West Ashley submarket, which is less than 10 minutes from downtown Charleston and the Charleston airport, the two largest employment centers in the area.

 "These strong employment fundamentals are met with a growing population that will help generate long term renter demand for the property.”  

 

Marley R. Dominguez

Marley Dominguez, Director of Acquisitions at Trion Properties, adds: “The Charleston region’s population is increasing three times faster than the U.S. average, boasting 33 new residents each day.

 A growing list of major corporations and industrial tenants have opened facilities in the area, lured by tax incentives and quick access to the expanding Port of Charleston.” 

 Constructed in two phases in 1968 and 1973, Latitude at West Ashley consists of one-, two-, and three-bedroom units averaging 954-square feet.

Mitch Paskover

 Approximately half of the units are townhome style. The community is comprised of 22 two-story wood-framed buildings, as well as a pool deck with BBQ grills and cabanas, fitness center, and on-site laundry facilities. 

 Latitude at West Ashley is located at 1735 Ashley Hall Rd, Charleston, SC 29407.  

 The principals of Trion Properties are Max Sharkansky and Mitch Paskover, two real estate professionals with over 30 years of combined experience in finance, acquisitions, management and redevelopment.

 

CONTACTS:

Elisabeth Manville / Anthea Davis   

The Smart Agency, Inc.  

(949) 438-6262 

andavis@thesmartagency.com  

https://trionproperties.com/. 

NewPoint Real Estate Capital Provides $20.6 Million in Fannie Mae DUS® Financing for Multifamily Property Acquisition in Holiday, FL

 

 The Park at Bergamo apartments, Holliday, FL

  Plano, TX  – NewPoint Real Estate Capital LLC (“NewPoint”), an innovative new commercial real estate finance company specializing in multifamily lending, has provided $20,616,000 in acquisition financing for The Park at Bergamo, a 244-unit multifamily property in Holiday, Florida, a suburb of the Tampa-St. Petersburg-Clearwater, Florida MSA.

 The transaction was originated by NewPoint Senior Managing Director John D. Motzel, who worked with Skyline Capital on behalf of the borrower. 

John D. Motzel

The 10-year Fannie Mae Delegated Underwriting Services (DUS®) loan features interest-only payments for the first four years, followed by amortization thereafter. 

NewPoint executed the transaction through Fannie Mae’s Sponsor-Initiated Affordability (“SIA”) program, which requires the Sponsor to maintain a minimum of 20% units affordable at 80% of AMI or less for the life of the loan. 

 “Our client received beneficial interest rate pricing due to the mission incentives provided by Fannie Mae under the SIA program and even went beyond what was required, setting aside additional units as affordable,” said Motzel.

“At closing more than 99% of the asset qualified as mission-driven for Fannie Mae.”

 The Park at Bergamo, originally built in 1975, is a seven-building apartment community of one- and two-bedroom units.

 Amenities include three swimming pools, a clubhouse, a business center, a fitness center, a playground, as well as a dog park.

The property had undergone a renovation in 2019-2020, which new Ownership plans to continue and complete.

 

NewPoint Real Estate Capital Provides $6.8 Million HUD Loan to Refinance Apartment Complex in Oxford, MS

 

Plano, TX – NewPoint Real Estate Capital LLC (“NewPoint”) announces the successful closing of a $6,840,000 HUD loan for Anderson Grove Apartments in Oxford, Mississippi. 

 Vincent Langan

The refinancing was originated by NewPoint Managing Director Vincent Langan on behalf of The Blackburn Group.

 The 35-year HUD 223(f) refinance loan was provided for the market rate 10-building, 80-unit Anderson Grove Apartments, which is situated on 5.6 acres at 1903 Anderson Road in Oxford.

The property features one- and two-bedroom units, a swimming pool, a -state-of-the-art fitness center, and a recreation room.

 Located within one-half mile from the University of Mississippi campus and on the local transit route, the property is within walking distance to many restaurants and cafes.

 “We have previously worked with The Blackburn Group and understood they wanted maximum cash-out proceeds along with a fully amortizing, long-term, fixed rate loan,” said Langan.

Anderson Grove Apartments, Oxford, MS

“The HUD 223(f) is the best non-recourse program in the market to provide these terms at the lowest rates.”

 Following its acquisition of the property in 2017, The Blackburn Group embarked on a renovation plan that encompassed interior upgrades to the units, including new kitchen and bathroom fixtures and furnishings, as well as interior common area and exterior improvements to the structures and surroundings of the property. 

The renovation was completed in July 2019.

 

 CONTACTS:

Daniel Ahern

Account Coordinator

The Pollack Group

O: 212-601-9341 M: 781-927-4038

dan@pollackgroup.com 

 

Stefan Pollack

The Pollack Group

stefan@pollackgroup.com

310.780.2364

 

Elyse Bandel

NewPoint Real Estate Capital

Elyse.Bandel@NewPoint.com

917.447.0143

https://newpoint.com.