Harbor Group International Acquires Luxury Southern California Apartment Community

Annie Rice

 

 Santa Clarita, CA – Harbor Group International, LLC (“HGI”) and Azure Partners, LLC (“Azure”), announce their joint venture for the acquisition of Jefferson Vista Canyon, a 480-unit, Class A apartment community in Santa Clarita, Calif.

 HGI and Azure acquired the property from JPI. JLL brokered the transaction and arranged a $173 million floating rate loan on behalf of HGI and Azure. 

 

Jefferson Vista Canyon apartments,
 a 480-unit, Class A apartment community
in Santa Clarita, CA

The Jefferson Vista Canyon Apartments are part of a 185-acre, mixed-use master-planned development, designed to offer residents convenient and walkable access to employment, recreation and entertainment options.

At completion, the development will feature 650,000 square feet of office space and 165,000 square feet of retail, and will include an 11-acre park and direct access to 10-miles of hiking and walking trails.

T. Richard Litton Jr.

The City of Santa Clarita will construct a bridge across the Santa Clara River connecting the development with Soledad Canyon Road, providing an essential access point to complement the expected increase in resident and visitor density to the micro-location.

 The community is centrally located and easily connects residents to major employment and lifestyle nodes within the Santa Clarita Valley, the neighboring San Fernando Valley and throughout Greater Los Angeles via Route 14 and I-5.

The property offers an embedded Metrolink commuter rail and bus transfer station, which will provide residents additional modes of access to major employment and entertainment centers in Greater Los Angeles.

Peter Yorck 

The Santa Clarita region is proximate to a range of employers within aerospace and defense, medical devices and biotech, advanced manufacturing, digital media and entertainment and information technology.

 “The Jefferson Vista Canyon community provides the accessibility, convenience and connectivity today’s residents are seeking,” said Richard Litton, President, HGI.

 “This acquisition highlights HGI’s investment strategy of acquiring properties in well-located, dynamic markets with strong employment fundamentals. We look forward to expanding our footprint in Southern California.”

Nick Lavin

Bryant Ferber, Azure’s Managing Director and Head of Acquisitions added, “We are excited to announce our first acquisition in California, and expect this transaction to serve as a springboard to more opportunities in the western United States as we seek to expand our presence in the region.

"Jefferson Vista Canyon aligns perfectly with our core investment strategy to acquire best-in-class assets in submarkets with strong growth trajectories.”

 The JLL Capital Markets team representing the seller was led by Managing Director Peter Yorck and Director Nick Lavin.

Brandon Smith

The JLL Capital Markets Debt Advisory team representing the borrowers was led by Managing Directors Brandon Smith, Annie Rice and Jamie Leachman.

 “This luxury asset had a tremendous lease up over the past twelve months and will soon reach stabilization, demonstrating strong renter demand for this product and location,” said Yorck.

 “The sale of Jefferson Vista Canyon indicates continued robust investor interest in more suburban pockets of Los Angeles County, such as Santa Clarita.”

 

Jamie Leachman

Built in two phases from 2020 to 2021, Jefferson Vista Canyon features contemporary finishes and desirable amenities unique to other communities in the area, including resort-style pools and a rooftop deck. Interior units include a mix of studio, one-, two- and three-bedroom layouts.

 Jefferson Vista Canyon adds to HGI’s Southern California multifamily portfolio and marks the firm’s seventh multifamily investment in the region.

 About Harbor Group International

Harbor Group International, LLC, and its affiliates control an investment portfolio of $16.3 billion including 4.4 million square feet of commercial space throughout the United States and the United Kingdom and 59,000 apartment units in the United States.

About Azure Partners

Azure Partners LLC (“Azure”) is a real estate investment firm focused on the acquisition and management of real estate assets within high-growth markets in the United States.

About JPI

JPI is a national developer, builder, and investment manager of Class A multifamily assets across the U.S., with over 5,000 apartment homes under construction.

CONTACT:

Harbor Group International

Morgan McGinnis

(323) 500-0939
mmcginnis@prosek.com

 

JLL

Jenna Sharp

(214) 394 3356

Jenna.Sharp@am.jll.com

JPI.com.

jll.com.

JPI.com. 

 

Native Realty Promotes Sara Dorfman and Dan Ross to Senior Associate

 

Sara Dorfman

FORT LAUDERDALE, FL, Jan. 12, 2022 – Native Realty, the Jaime Sturgis-led real estate firm that is disrupting the industry and placemaking South Florida’s hottest neighborhoods, promoted two brokers who have been with the firm since shortly after its 2017 launch. Sara Dorfman and Dan Ross are now Senior Associates at Native.

 Dorfman and Ross earned the new roles by generating consistent and strong sales volume and for their overall contributions to Native over the past five years. The duo will take on additional firm-wide responsibilities following the promotion.

Dan Ross

“Sara and Dan are talented and driven individuals who care deeply about the neighborhoods Native shapes and spends time in,” Sturgis said.

“Both produce a high output of impactful deals and have grown tremendously since joining us. We are excited to see Sara and Dan flourish in their new roles with the firm.”

Will Grace 

Dorfman is versed in all aspects of real estate investment sales and leasing, including commercial, residential, multifamily, new construction and redevelopment, investment portfolios and vacation home rentals.

A New Jersey native, Dorfman relocated to Fort Lauderdale nearly a decade ago and has worked in real estate throughout her time in the city. She also has 10 years of real estate experience at a family-owned business in New Jersey.

Stacy Karst 

Ross specializes in investment sales across all commercial real estate sectors, and retail and restaurant leasing. He earned a Master of Business Administration (MBA) in Real Estate from Florida State University, in addition to bachelor’s degrees in Marketing and Management.

Ross and Sturgis first met through their mutual involvement in the university’s American Marketing Association.

Jaime Sturgis

Native recently relocated its corporate headquarters to a new Fort Lauderdale office that is double the size of its previous headquarters. The 4,000-square-foot office is located at 1926 E. Sunrise Blvd. in the city’s Victoria Park neighborhood.

 The firm also just added real estate agents Will Grace and Stacy Karst to its growing roster.

 

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

www.nativerealty.com.

 

JLL’s Capital Markets group appoints new loan sales leadership

 

Sean Ryan

CHICAGO, IL – JLL Capital Markets has appointed Senior Managing Directors Sean Ryan and Will Sledge as co-heads of the national Loan Sales platform.

 Former loan sales platform co-leaders Gerard Sansosti and Wally Reid will continue to lead the national Debt Advisory and Corporate Finance platform.

 Ryan and Sledge bring a combined 30 years of experience to the business with extensive work sourcing, evaluating, structuring and executing loan sales, distressed debt and REO portfolio sales opportunities.

Their client base includes special servicers, life companies, GSE’s and various other financial institutions requiring assistance with the valuation and sale of performing, sub and non-performing commercial, C&I, consumer, ELF, residential mortgage loans and CRE REO.

Will Sledge

“Over the last 20 plus months, we’ve seen a significant uptick in client needs in the loan sale sector of the industry closing over 50 unique transactions and over $1.5 billion of unpaid principal balance,” said Sansosti.

“As such, we felt it was the right time to formally designate leaders to the space. 

Ryan and Sledge are consummate professionals and bring a wealth of loan sales and REO knowledge to service our clients growing demand for this type of product.”

 The pandemic accelerated trends that were already creating disruption and dislocation in the real estate space.

 Gerard Sansosti 

As a result, the disruptive environment created a misalignment for holders of longer-term debt capital on what were becoming much more fluid assets.

The evolution cycle of real estate is shortening and trends in the real estate space in general are falling in and out of favor more quickly today than before.

Whether it is the new work from home phenomenon affecting office space, online retailing or the downsizing of brick-and-mortar retail needs, our clients are finding themselves in certain situations holding mispriced risk in their portfolios.

Wally Reid

Coupled with the abundance of dry powder available looking for opportunities, it has allowed many of our clients to sell off that risk and reinvest in what they feel are better risk adjusted opportunities. 

 “I’m looking forward to progressing the growth of the loan sales business and alongside Will and the rest of the team.

That includes Tom Hall, Brett Rosenberg and Kyle Kaminski, who have helped to elevate our group to one of the best in the business,” added Ryan.

Tom Hall

“Under the leadership of Gerard Sansosti and Wally Reid, JLL has invested considerable resources to grow our bench with the most talented advisors in the asset sale space,” Sledge added.

 “Today, our collective team offers best-in-class service to our clients across the spectrum of real estate.

While in some ways this moment marks a ‘changing of the guard’, Sean, I and other members of the team will continue to advance the growth initiatives Gerard and Wally set in motion.”

 Ryan, who is located in Dallas, joined JLL through the merger with HFF in 2019 and has completed more than $5 billion of assignments through his career.

Brett Rosenberg

Prior to starting in commercial real estate, he played for six seasons in the National Football League after being drafted by the Dallas Cowboys in 2004.

 Sledge, who offices out of New York City and Mobile, Alabama, has executed over $10 billion of assignments during the course of his career.

 Kyle Kaminski

Prior to JLL, he spent 17 years at Mission Capital Advisors where he was head of business development and execution.

 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 and advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

CONTACT:

Kristen Murphy

 JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 

KAI Engineering Hires H. John Vetter II, PE as National Electrical Engineering Subject Matter Expert

H. John Vetter II

 

 St. Louis, MO, Jan. 11, 2022 -- KAI Engineering is pleased to announce the hiring of H. John Vetter II, PE as its new National Electrical Engineering Subject Matter Expert at its Dallas-Fort Worth, Texas office.

 

Vetter has more than 32 years of combined experience in engineering and management.

 

“John Vetter has made an immediate impact on KAI. His extensive experience and industry knowledge is a critical differentiator for our KAI Engineering business,” said KAI Managing Partner Brad Simmons, FAIA. 

Brad Simmons

Prior to KAI, Vetter held the title of Principal – Electrical Department Head at Smith Seckman Reid in Dallas-Fort Worth.

 

Some of Vetter’s previous notable experience includes Washington University School of Medicine Laboratory Renovations in St. Louis; DFW Airport Ramp Operations Center; Verizon Data Center in Southlake, Texas; and NTTA Data Center in Plano, Texas.

 

Vetter has a Bachelor of Science in Electrical Engineering from Missouri University of Science and Technology in Rolla.

 

CONTACT:

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

 www.kai-db.com.

JLL Capital Markets arranged $85 million sale and helped raise equity for The Haven at West Melbourne apartments in West Melbourne, FL

 Melissa Marcolini Quinn

 

 ORLANDO, FL – JLL Capital Markets has closed the $84.7 million sale of The Haven at West Melbourne, a three-story, garden-style multi-housing community located in West Melbourne, Florida.

 JLL represented the seller, Passco Companies, in arranging the sale to the buyer, JT Capital. JLL also represented JT Capital in arranging debt and equity financing for the acquisition.

Emily Moallem

"Our team at JT Capital saw this as a fantastic asset to add to our growing Florida apartment portfolio,” said Rohun Jauhar, Partner with JT Capital.

“We are bullish on Florida, as we continue to see the state have the highest population growth in the country, a strong jobs outlook and a sensible business environment."

Rohun Jauhar

The JLL Capital Markets Sales and Advisory team representing the seller was led by Managing Directors Ken Delvillar and Jay Ballard.

The team representing the borrower was led by Senior Managing Directors Melissa Marcolini Quinn and Lee Weaver with production support from Rob Rothaug and Emily Moallem.

The Haven at West Melbourne, 
a three-story, garden-style multi-housing
community located 4550 Explorer Drive.
 in West Melbourne, FL

The buyer plans to leverage value-add efforts within similar assets in the immediate and surrounding areas to implement further performance growth.

 Consisting of 13 buildings total, the community houses premium units averaging 1,164 square feet that feature full-sized washers and dryers, walk-in closets, window coverings, 9-foot ceilings, hardwood-style vinyl flooring, granite countertops and private balconies or sunrooms.

Ken Delvillar 

Community amenities include a resort inspired pool and sundeck, an outdoor gourmet kitchen, a 24-hour fitness center with free weights, business center, children’s play park, billiards room, sand volleyball court, dog park and car care center.

 Situated at 4550 Explorer Dr., the property provides access to top employers that include L3Harris, Collins Aerospace, Northrop Grumman, Patrick Air Force Base, Lockheed Martin and Blue Origin.

With proximity to Melbourne Square, Hammock Landing, downtown Melbourne and Palm Bay Road, the community offers residents several retail and dining options within Melbourne.

Jay Ballard

Additionally, the community is surrounded by premiere healthcare including Health First, Steward Healthcare, and Kindred Hospital as well as educational opportunities with Florida Institute of Technology and Eastern Florida State College.

Residents also have easy access to travel options with the property’s close location to Melbourne Orlando International Airport and Port Canaveral.

 “The Haven at West Melbourne received an overwhelming response in the market, as it represented an opportunity to implement an amenity and interior value-add program to one of the last assets completed within the prior development cycle back in 2010,” Delvillar said.

Lee Weaver 

 “Having been institutionally owned for an extended period of time by Passco Companies, the asset’s tenant base was an attractive attribute due to high wages and education levels coupled with explosive property performance over the past couple of years and most notably over the prior two quarters.”

 “While the property’s performance has remained at levels higher than the national average, JT Capital was able to recognize a unique value proposition due to their direct localized experience in the market and even within the neighborhood,” Quinn added.

“We are very pleased to find our client a capital structure that suits their goals. The debt and equity financing is a non-recourse, interest only, floating-rate package with an interest rate cap and will allow a full modernization of the unit interiors and amenities.

Rob Rothaug 

"As long-term owners in the market, they are keenly conscious of the strong market growth fundamentals revolving around the local technology and space industries.”

 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 and sales advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

 CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

JLL Capital Markets completes sale of the 137-unit Summit at Hyland Park apartments in Beaverton, OR

 

Carrie Kahn

 

PORTLAND, OR – JLL Capital Markets announced that it has closed the $47 million sale of Summit at Hyland Park, a 137-unit, value-add, garden-style multi-housing community located in Beaverton, Oregon.

 JLL represented the seller, DB Capital Management. FPA Multifamily acquired the asset.

Ira Virden

Built in 1985, renovated in 2016 and updated in 2020, Summit at Hyland Park consists of one-, two- and three-bedroom units with luxury vinyl plank and carpet flooring, quartz countertops, stainless steel appliances, in-unit washers and dryers, walk-in closets, a wood-burning fireplace and a private balcony or patio.

Frank Solorzano

Community amenities include a community clubhouse, a dog park, a pool and spa, a fitness center, a business center and a barbeque area.

 Located at 14305 SW Sexton Mountain Dr., the property is with a three-mile radius of over 10 million square feet of retail amenities including Progress Ridge TownSquare, Murray Scholls Town Center, Washington Square Mall, Greenway Town Center and Cedar Hills Crossing.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.

 

CONTACT:

 

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com