Advenir and Oakley Group Form Joint Venture to Accumulate Portfolio of 8,000 BFR Units Throughout the Southeast and Midwest

 

David Oakley

BIRMINGHAM, AL -- Advenir, a Miami-based vertically integrated investor, developer, and operator of multifamily assets, has joined forces with Oakley Group, a Birmingham-based investor and developer of multifamily properties, to develop, acquire, and operate a portfolio of Single-Family Rental (“SFR”) / Built-for-Rent (“BFR”) properties. 

 

Formed in October of 2020, the joint venture, Advenir Oakley Capital, has the stated purpose of accumulating a portfolio of 8,000 BFR units in markets that demonstrate outsized demand stemming from strong job creation, positive in-migration, low taxation, an expensive housing market and local desirability.

 

Michael Krombach

Significant home foreclosures due to the Great Financial Crisis of 2007/2008 resulted in the emergence of a new sector: single family homes for rent (SFR).

 

 Financial investors found significant success acquiring, renovating, and renting homes that went through foreclosure and learned that there was healthy demand for the asset class.

As a result, developers began to explore the operational efficiencies of building purpose-built communities with homes for rent (BFR) and found great success in both leasing and operations in the Southwest United States. 

 

CONTACTS:

 

David Oakley, founder and CEO of Oakley Group, OG Capital, LLC and principal of Advenir Oakley Capital, LLC 205-913-4632 or david.oakley@og.capital

 

Michael Krombach, COO / General Counsel, OG Capital, LLC, and principal of Advenir Oakley Capital, LLC; 904-233-4608; Michael.Krombach@og.capital

Aimee Morgan and Kai Pan promoted to lead JLL Valuation Advisory’s multi-housing practice

 

Aimee Morgan

 CHICAGO, IL, Jan. 4, 2022 – JLL has promoted Managing Directors Aimee Morgan and Kai Pan to co-lead JLL’s national Valuation Advisory multi-housing practice, which has seen record growth over the past two years, almost tripling in size.

 

They plan on streamlining operations, growing the business and internal and external brand development.

 

Morgan and Pan have worked closely for the past two years to drive significant growth in the practice, with Morgan building and expanding various regions and client accounts and Pan driving technology advancements and capacity across the country.

Kai Pan

With nearly 25 years of combined experience, they have completed and overseen thousands of multi-housing assignments, including conventional multifamily, Freddie Mac and Fannie Mae transactions, affordable and workforce housing, student housing, asset management and tax reporting and conduit lending and bridge loans.

 

“Aimee and Kai’s leadership is going to strengthen the multi-housing sector's overall deliverable and client service platform,” said Tony Lenamon, Americas Head of Valuation Advisory.

“We have seen record demand for our services for multi-housing valuations, which is now best served by appointing two leaders who will grow our capabilities to service clients even more.”

Tony Lenamon

 

Reporting to Lenamon, Morgan and Pan assumed their co-leadership roles on January 1, 2022, as Co-Heads of Multi-housing Property Sector, Valuation Advisory.

 

“Our goal is to be the provider of choice to our clients and the employer of choice to our appraisers,” Morgan said. “We’ll be making big changes and strides over the coming months and years to make our practice world class in every way.”

 

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

 

CONTACT:

Kimberly Steele

PR, Capital Markets,

 Agency Leasing

and Valuation Advisory 

JLL

M +1 832 244 9994

JLL.com

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