JLL Capital Markets arranges $11 million in supplemental financing for the 288-unit Club at Danforth apartments in Jacksonville, FL and the 210-unit Verandahs at Hunt Club apartments in Apopka, FL

 

Mona Carlton

 MIAMI, FL – JLL Capital Markets has arranged $5.9 million in supplemental financing for the 288-unit Club at Danforth in Jacksonville, Florida, and $5 million in supplemental financing for the 210-unit Verandahs at Hunt Club in Apopka, Florida.

 

This is the second supplemental financing for Verandahs at Hunt Club.

Elliott Throne

JLL represented the borrower, Beachwold Residential, to secure the sub-seven-year, fixed-rate supplemental loans through Freddie Mac Multifamily.

 

The loans will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

 

The JLL debt team was led by Senior Managing Director Elliott Throne, Senior Managing Director Mona Carlton, Director Kenny Cutler and Analysts Joshua Odessky and Karim Khaiboullin.

 

“The ability to procure supplemental loans on top of existing senior financing is one of the primary benefits of agency loans like these,” Cutler said.

 

 “Beachwold has done a fantastic job managing these properties and taking advantage of increasing market rental rates, allowing them to pull out substantial equity in the process.”

Kenny Cutler

Built in 1998 and updated in 2018, Club at Danforth is a garden-style apartment community consisting of 16 residential buildings and one leasing office.

 

Community amenities include a playground, fitness center, swimming pool, dog park, racquetball and basketball courts, a clubhouse and business center.

Completed in 1985, Verandahs at Hunt Club is a garden-style multi-housing community with 21 two-story residential buildings, one clubhouse and one maintenance building.

 

Community amenities include a pool, fitness center, tennis court, dog park and car care center. Both properties offer one-, two-, and three-bedroom units to residents.

 

Joshua Odessky 

Club at Danforth is located at 3701 Danforth Dr., which is just three miles east of the Interstate 295 Beltway and two miles north of J. T. Butler Boulevard.

The property is within a 10-minute drive of Deerwood Park, Jacksonville’s largest suburban white-collar employment hub, and under two miles from the Mayo Clinic Jacksonville.

 

The location is also within 10 minutes of St. Johns Town Center, north Florida’s premier shopping and entertainment destination.

 

Verandahs at Hunt Club is located at 3000 Foxhill Circle, set strategically off SR-436 and less than four miles west of I-4.

 

 The proximate corridor along SR-436 offers some of Orlando MSA’s largest retail destinations, such the Altamonte Mall, a 1.2-million-square-foot regional mall. 

The community is also adjacent to and walking distance from Hunt Club Corners, a recently renovated Publix-anchored shopping center.

 

Additionally, there is approximately 10.7 million square feet of office within a five-mile radius.

 

Karim Khaiboullin

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform. 

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. 

JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

 288-unit Club at Danforth apartments,
Jacksonville, FL

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. 

 210-unit Verandahs at Hunt Club apartments
Apopka,FL

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 Associate,

Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

Regency Centers Announces COO Retirement and Succession Plan

 

Lisa Palmer

JACKSONVILLE, FL (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq:REG) announced forthcoming changes to its executive management team.

Jim Thompson, Executive Vice President and Chief Operating Officer, has announced his retirement, effective December 31, 2022.

Jim Thompson

Concurrently, the Company is pleased to announce the following executive management promotions, effective January 1, 2023:

• Alan Roth, currently Senior Managing Director, East Region, will become Executive Vice President, National Property Operations and East Region President. 
• Alan will be responsible for operations strategy and processes nationally, as well as overseeing execution of the operations and investment strategies in our Northeast and Southeast regions.

Nick Wibbenmeyer

• Nick Wibbenmeyer, currently Senior Managing Director, West Region, will become Executive Vice President, West Region President. Nick will be responsible for investment and development strategy and processes nationally, as well as overseeing execution of the operations and investment strategies in our West and Central regions.

“Jim embodies Regency’s special culture every day, and I’m proud to call him a mentor and a friend. He leaves behind a legacy that will endure in how we will continue to operate our business going forward,” said Lisa Palmer, President and Chief Executive Officer.

Alan Roth

“We are so lucky to have two proven veterans in Alan and Nick, who have worked alongside Jim as regional leaders for many years.

"I’m looking forward to a seamless transition as they both take on national strategic responsibilities, and to working with them even more closely as we continue to grow and thrive as a best-in-class owner, operator and developer of open-air shopping centers.”

Hap Stein, Executive Chairman, commented,  “Jim has been an important partner to me over his more than 40 years as a leader within the organization, and I’m grateful to him for helping build Regency into the company it is today.

Hap Stein

"His experience throughout real estate cycles, along with his industry expertise and reputation, have been vital to our success.

“Alan and Nick are indicative of Regency’s deep bench of talented leaders, having already had an immense impact on how we run our business.”

Alan Roth is currently Senior Managing Director of the East Region for Regency Centers, prior to which he was Managing Director of the Northeast, Mid-Atlantic and Southeast Regions. 

Nick Wibbenmeyer is currently Senior Managing Director of the West Region for Regency Centers, prior to which he was Managing Director of Florida and the Midwest Region. 

CONTACT:

Christy McElroy
904 598 7616
ChristyMcElroy@regencycenters.com

Eric Davidson
904 598 7829
EricDavidson@regencycenters.com

RegencyCenters.com

KBS Acquires 605,000 Square-Foot Class A Office Tower in Nashville, TN

 UBS Tower, 315 Deaderick Street
 Nashville, TN

NASHVILLE, TN – KBS, one of the largest investors in commercial real estate in the U.S., announces the acquisition of UBS Tower, a 29-story, 605,000 square foot Class A office building located at 315 Deaderick Street in Nashville, Tennessee on behalf of a large pension fund.

Bruce Fischer

“With a population quickly approaching two million, Nashville is a vital business, tourism, and transportation center,” says Marc DeLuca, CEO and Eastern regional president at KBS.

“Nashville boasts a thriving economy that is predicted to see a 3.9% growth in employment in 2022. This activity creates numerous office-using jobs and significantly increases the rental growth and demand in the market. Now was the opportune time for us to make this investment.”

Marc DeLuca

Nashville has been consistently ranked a top city for businesses over the last several years, with companies migrating to the area in favor of its diverse economy, low cost of living, and well-educated talent pool.

 According to CoStar, Nashville has over 80% more office-using jobs now than it had in 2010, a rate of growth that far outpaces the national average. 

The city has also seen several tech businesses relocate to or expand in the area in search of prime office space, with global companies such as Amazon, Oracle, Asurion, and iHeartRadio planning to open new major offices in the city.

Allen Aldridge

Built in 1972, UBS Tower is ideal for office and retail businesses seeking an optimal location in the Nashville area.

 Several renovations have been made to the property, including a revamped lobby, new tenant lounge, coffee bar, conference center, and fitness center, along with extensive infrastructure upgrades, making the building an attractive location for companies looking to provide their teams an amenity-rich and sustainable workplace.

 “There is strong ongoing demand for premier office space located within walking distance to downtown amenities, and UBS Tower is well positioned to benefit from significant tenant in-migration,” says Allen Aldridge, senior vice president of acquisitions, dispositions, and co-director of asset management for KBS.

Tatyana Litovsky

“The property offers unobstructed views of Downtown, move-in ready full floor spec suites, and superior access to executive housing to the West and South via Charlotte Avenue.”

 

Christine Z. Fan

“We plan to make UBS Tower even better by adding in-demand features such as a coffee bar located in the lobby, bike room and shower, dog recreation area, and modernized facade,” continues Aldridge. 

Amanda Kennedy

“We also plan to add electric car charging stations and verify the building with UL Healthy Buildings since we are constantly looking for ways to incorporate eco-friendly property amenities that elevate the tenant experience while reducing our carbon footprint.”

David Meline

Attorneys Bruce Fischer, Tatyana Litovsky, Christine Fan and Howard Chu, and paralegal Amanda Kennedy, of global law firm Greenberg Traurig, LLP’s Orange County office represented the firm as legal counsel in the acquisition.

 “We were extremely pleased to represent KBS in the acquisition of this desirable asset,” says Fischer, Greenberg Traurig’s Chair of the West Coast Real Estate Practice and Co-Managing Shareholder of the Orange County office, who led the Greenberg Traurig team and represented KBS.

 Howard Chu

 Cushman & Wakefield’s David Meline, Samir Idris, Crews Johnston, Mike McDonald, and Stewart Calhoun arranged the sale of UBS Tower and represented the seller, Shorenstein Properties, LLC. 

The commercial real estate services firm has also been retained by KBS to oversee overall management, leasing, and project management for the building.

 CONTACT:

Arleeny Escarcega

 aescarcega@thesmartagency.com

$16.275 million in financing secured by JLL Capital Maarkets for Bay Area seniors housing development sites

 

Lillian Roos 

SAN FRANCISCO, CA – JLL Capital Markets has arranged $16.275 million in acquisition financing for two land sites totaling 12.73 acres for the development of seniors housing communities in Livermore and Soquel, California.

JLL worked on behalf of the borrower, Calson Management, to secure the $10.5 million and $5.775 million one-year, fixed-rate loans through Barnett Capital Limited.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Bercut Smith, Director Lillian Roos and Analysts Lauren Sackler and Ace Sudah.

Lauren Sackler

 The first site is located at 1202 Concannon and totals nine acres. The site will be developed into a 128-unit seniors housing community offering assisted living and memory care.

On-site community amenities will include designated dining rooms, a hobby room, spa/salon, movie theater, laundry facilities, a fitness center, wellness center and walking paths with open outdoor spaces.

The property is near local retail, entertainment and dining hubs and is a 10-minute drive from Stanford Health Care – Valley Care Memorial Center and Livermore Division – VA Palo Alto Health Care System.

Additionally, the proximity to CA-84 provides access to San Francisco, Silicon Valley and the Central Valley in under an hour drive.

Ace Sudah

Situated on 3.73 acres at 5630 Soquel Dr., the second land site will be developed into an 82-unit senior housing community near Santa Cruz. 

The site is a fully entitled assisted living and memory care development that Calson Management took through the entitlement process while the site was under contract.

Livermore seniors housing development site, Livermore, CA

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

 Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

  CONTACT:

Cierra Lacasse,

JLL Associate, Public Relations

Phone: +1 602 648 8701

Email:  Cierra Lacasse@am.jll.com

 

Alfred Expands To North Carolina With Platform Launch In Over 2,000 Apartment Units In Charlotte

  Alfred co-founders Jessica Beck (left)
and  Marcela Sapone

 

 NEW YORK, NY, April 14, 2022 -- Alfred, the largest and most advanced resident technology company, successfully expanded to North Carolina on the heels of its strategic acquisition of property management firm RKW Residential.

In a phased rollout approach following the RKW acquisition, Alfred will be integrating its Alfred Operating System (AOS) in more than 2,000 apartment units in Charlotte, including The Beverly and The Griff, among others.

 The initial rollout of AOS, which is the industry’s most advanced platform, is poised to optimize the living experience for apartment residents in the rapidly growing Charlotte market.

Marcie Williams

These residents – and eventually those throughout RKW’s portfolio of 30,000 single-family and multifamily rentals across the Southeast U.S. – will have a single stop to support all aspects of residential living.

That applies to resident management and communication, management of on-site operations and maintenance, payments, and unique community and resident wellness amenities.

 “Just weeks after finalizing the acquisition of RKW, we’re revolutionizing the rental ecosystem through the infusion of our technology and RKW’s property management expertise,” says Marcela Sapone, Co-Founder and CEO of Alfred.

“In a digital world, renters are now expecting a tech-enabled experience that they find everywhere else. Together with RKW, we’re powering the most seamless renting journey, where everything a resident needs is anticipated and available at the touch of a button.”

The Beverly apartments, Charlotte, NC

Charlotte is North Carolina’s most populous city and one of the nation’s fastest-growing metropolitan areas for job (300,000 new jobs projected by 2028, according to North Carolina’s Department of Commerce).

Also: population growth (2.63% year-over-year and 19.6% growth over the past decade is forecast by the U.S. Census Bureau). 

These trends are creating intense demand for apartments in the city, with many residents opting for the flexibility and convenience of renting over owning.

 “RKW’s home base of Charlotte is ideal for the North Carolina debut of Alfred’s revolutionary platform,” said RKW CEO Marcie Williams. “Our residents have come to expect a seamless and efficient experience. They will love the convenience and ease of use of the Alfred platform.”

 

The Griff apartments, Charlotte, NC

Alfred strives to positively impact the communities it operates in by partnering with - and supporting - local, women and minority owned businesses.

 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.helloalfred.com  

 

JLL Capital Markets Brokers $9.4 Million Sale of Glenbrook Commons, a Fitness-Anchored Retail Center in Booming Orlando, FL Submarket

 Christie Alexander

 

ORLANDO, FL, April 13, 2022 – JLL Capital Markets announced today that it has closed the $9.4 million sale of Glenbrook Commons, a 64,707-square-foot, fitness-anchored shopping center in the growing Orlando-area community of Clermont, Florida.

 JLL marketed the property on behalf of the seller, Continental Realty Corporation. CrossMarc Services, based in Winter Park, Florida, acquired the asset.

Glenbrook Commons, Clermont, FL

“This asset fit perfectly into our acquisition strategy in Central Florida,” said Christie Alexander, SVP, CrossMarc Services. “We are grateful for the opportunity to work with JLL and Continental.”

 The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Associate  Tommy Isola.

Brad Peterson

“Glenbrook Commons commanded interest from a wide audience of private investors, and JLL reviewed more than 10 offers with the seller,” Leonhardt added.

“Fitness-anchored centers have made a remarkable comeback following the pandemic, and best-in-class, well-operated fitness clubs are seeing membership levels that exceed their pre-pandemic numbers.

 "Glenbrook Commons is perfectly situated to capture growth from the booming residential market in Clermont, making this an exceptional transaction for both seller and buyer.”

 

Whitaker Leonhardt

Originally constructed in 2009, Glenbrook Commons is anchored by Fitness CF, a strong-performing regional gym operator serving Central Florida.

The 98.4-percent-leased center is also home to a mix of service, healthcare and medical tenants, including US Taekwondo, China Gourmet, Gametime Barber Shop, The Cat Garden, Clermont Family Dentistry and Suncoast Premier Medical.

Further, there are three additional undeveloped pads included in the transaction that can be developed for future retail uses. Non-owned CVS Pharmacy and AutoZone outparcels help drive traffic to the property.

 Glenbrook Commons is positioned on a 15.6-acre site at 1714 US Highway 27 in Clermont, a booming Orlando suburb sought after by residents supporting the tourism, leisure and hospitality industries due to its proximity to the world-renowned Orlando Tourism corridor.

  Tommy Isola

With more than 2,600 residential units planned or under construction, the area surrounding the property includes a population of 41,662 within a five-mile radius that is expected to balloon by nearly 14 percent by 2026.

Additionally, the nearest larger format gym is a Fitness CF location 12.6 miles north of the property, extending the drawing radius of the center.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

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.

  

 CONTACTS:

Beth Payan

Larry Vershel Communications 

beth@larryvershel.com

 

Kimberly Steele

 JLL Manager, Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com 

 jll.com. 

 

Hold Thyssen Completes Long Term Lease Agreement with State of Florida – Dept of Corrections

 

 Vik Mahadeo

 

 ORLANDO, FL  --- Hold Thyssen, Inc., a full-service commercial property firm based in Winter Park, recently completed a nine-year lease agreement with the State of Florida Department of Corrections for the 16,826 square foot building at 27/29 Coburn Ave. near downtown Orlando.

 Hold-Thyssen Leasing Associate Vik Mahadeo brokered the transaction representing the Orlando-based landlord, ApexiProp FLOR 29, LLC and the tenant State of Florida Department of Corrections/P&P. 

State of Florida Department of Corrections/P&P

Mahadeo said negotiations lasted nine months resulting in the State agreeing to remain in place for nine years at an above-market rental, rather than vacating to relocate at a nearby DMS-owned property. 

 Hold Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year-old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

 

 CONTACTS:

Anthony Fisher, Vice President, Hold Thyssen Inc.

 407-691-0505, afisher@holdthyssen.com

 Robert P. Hold, Principal, Hold Thyssen, Inc.

 407-691-0505, bhold@holdthyssen.com

 Beth Payan, Larry Vershel Communications Inc. 

407-461-3781 beth@larryvershel.com