Atlantic & Pacific Management acquires River's Edge Apartment Homes in Lake Elsinore, CA

  

Kim Arnold

San Diego, CA – Atlantic & Pacific Management is pleased to announce the acquisition of River’s Edge Apartment Homes (River’s Edge) in Lake Elsinore, CA. The price was not disclosed.

 The nine-building multifamily apartment property consists of 184 units in a garden-style community with convenient access to two major freeways.

 

River’s Edge boasts resort-style living with one and two-bedroom apartments featuring modern, open floorplans. 

It is situated near an on-ramp to the I-15 freeway along with close access to the Route 91. Lake Elsinore is strategically located with access to over one million jobs within a 45-minute commute to Los Angeles, Orange, and San Diego counties.

 

River’s Edge Apartment Homes, Lake Elsinore, CA

“We’re thrilled to welcome River’s Edge to Atlantic & Pacific Management’s offering of Southern California properties,” said Kim Arnold, Regional Supervisor at Atlantic & Pacific Management.

 

“This welcoming community just off the banks of Lake Elsinore is centrally located to schools, shopping, and dining. It offers convenient access to major freeways, meaning easy access to the region’s growing job opportunities.” 

 

For more information about Atlantic & Pacific Management, please visit https://aphoamgmt.com.

 

Also: Follow on Facebook (@AtlanticAndPacificManagement) and LinkedIn (@atlantic&pacificmanagement).

 

  

CONTACTS:

WadePfeffer

 jessica@jwipr.com 

305.804.8424

 

Marianna La Riva

 marianna@jwipr.com 

 954.471.0759

JLL Capital Markets closes sale of The Connection at Oxford on the campus of the University of Mississippi.

Teddy Leatherman

DALLAS, TX, Sept. 6, 2022 – JLL Capital Markets has closed the sale of the 816-bed / 300-unit The Connection at Oxford located on the campus of the University of Mississippi. The price was not disclosed.

 JLL worked on behalf of the seller, Trimont Real Estate Advisors LLC. Heritage Properties acquired the asset.

  

Stewart Hayes

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Directors Teddy Leatherman, Stewart Hayes and Scott Clifton. 

 The Seller, 532 Title Way, LLC was represented by Director Mark Cashman and Sr. Associate Scott Groeschell. 

Scott Clifton

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Directors Teddy Leatherman, Stewart Hayes and Scott Clifton. 

 The Seller, 532 Title Way, LLC was represented by Director Mark Cashman and Sr. Associate Scott Groeschell.

Mark Cashman

Built in 2008, the 14-building The Connection at Oxford features fully furnished one-, two-, three- and four-bedroom units with an average size of 432 square foot per bed.

Units feature full-size washers and dryers, hardwood-like floors, individual bathrooms and large walk-in closets.

 Scott Groeschell

Community amenities include a 24-hour athletic club with stereo and televisions, a game room with billiards, a basketball and sand volleyball courts, clubhouse and private study rooms, a resort-style swimming pool and spa, picnic area with gazebo and firepits, a pet park, computer lounge and barbecue areas.

The 816-bed, 300-unit The Connection at Oxford
 student housing is located at 2000 Oxford Way
on the campus of the University of Mississippi.

Situated at 2000 Oxford Way, the property sits on the campus of Ole Miss, a nationally recognized, SEC, Power-5 university with Fall 2021 enrollment of 21,856 students.

 CONTACT:

 

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

EDEN Multifamily Opens New Regional Office in Charlotte, NC and Adds Industry Veteran Scott Phillips

 

Scott Phillips

 CHARLOTTE, NC, Sept. 6, 2022 – Leading developer EDEN Multifamily is poised for significant expansion across key Southeast and Mid-Atlantic U.S. markets. The Florida-based developer just opened a new regional office in the Charlotte area and tapped seasoned industry executive Scott Phillips to lead the effort.

 Phillips, EDEN’s new Senior Vice President – Mid-Atlantic Development, brings more than three decades of commercial real estate and banking experience to the company.

 

He plans to build a team in the coming months as EDEN advances projects in select markets across North Carolina, South Carolina, Tennessee, Georgia and Virginia.

JAY MASSIRMAN

EDEN focuses on developing and delivering innovative, industry leading multifamily communities that serve a wide range of economic sectors. 

Its new office is located at 52A Ervin St. in Belmont, North Carolina – just west of Charlotte.

Jay S. Jacobson

“Scott is the ideal person to oversee our substantial growth plans in a thoughtful fashion,” EDEN President Jay Jacobson said.

 “His vast experience transcends all aspects of real estate acquisitions, development, underwriting, financing and beyond. We are excited to welcome him to the EDEN family.”

 

Prior to joining EDEN, Phillips spent 27 years with Bank of America.

Phillips earned a bachelor’s degree in Business Administration from the University of North Carolina-Charlotte. He is actively involved in numerous commercial real estate organizations, including NAIOP, where he was a past Chairman, ULI and ICSC.

 

“Jay Jacobson and Jay Massirman have truly built something special with EDEN Multifamily,” Phillips said. “I am excited to have the opportunity to play a pivotal role in the continued expansion of the company. I look forward to leveraging my experience and relationships to accelerate EDEN’s ambitious growth plans.”

 

Massirman also co-founded Charlotte-based RKW Residential, one of the fastest-growing multifamily management firms in the nation. RKW oversees leasing and management of many of EDEN’s communities.

  

 

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.edenmultifamily.com.

 

JLL arranges sale of prime .53-acre residential development site west of Brickell in Miami, FL

Danielle Fernandez

MIAMI, FL – JLL Capital Markets has closed the sale of CoralGrove Brickell, a 0.53-acre, residential development site planned for 85 units, located between Brickell and Coral Gables in Miami, Florida. The price was not disclosed.

 JLL marketed the property on behalf of the seller, an investment group from South America. Empira Group, a Swiss real estate firm acquired the asset.

 Designed by award-winning Revuelta Architecture International, CoralGrove Brickell is planned to include 85 units, consisting of one-, two-, and three-bedroom apartments. 

Simon Banke

Amenities consist of a fitness center that incorporates spaces for yoga and spinning, a rooftop resort-style pool overlooking the city, a gourmet kitchen and a game room.

 The ground floor will have about 900 square feet of retail space.

 CoralGrove Brickell, which is a five-minute walk from the Viscaya Metrorail Station, will promote walkable urban living.

 Future residents will be able to trade their cars for the Metrorail to travel around the tri-county area, committing the project to the highest ESG standards. The project will be LEED certified.

 

Max La Cava 

The JLL Capital Markets Investment Advisory team representing the seller was led by Directors Max La Cava and Simon Banke, with support from Analyst Danielle Fernandez.

 “CoralGrove Brickell is one of the most exciting boutique residential projects in Miami,” said La Cava.

“It is perfectly positioned to capitalize on the influx of high-paying tech and finance jobs moving from New York City, Chicago, and San Francisco.

"Empira’s entrance to the Miami market is a big deal as they look to expand in South Florida and across the US.”

 South Florida’s booming economy and thriving job market have transformed the area into an economic powerhouse.

Miami has attracted high-profile tech, private equity and finance firms from major high-paying employment hubs.

Blackstone, Citadel, Spotify, Thoma Bravo and Marsh Insurance, among many others, have opened or significantly expanded their offices in Miami in recent months.

 

 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.

 

Native Realty Secures Lease with The Blind Monk bar in Downtown West Palm Beach, FL

 

Kaley Tuning

 

WEST PALM BEACH, FL  -– Native Realty, the industry disrupting real estate brokerage, is increasingly demonstrating its placemaking prowess in Palm Beach County. For instance, Native CEO Jaime Sturgis, Sales Director Kaley Tuning and Associate Spencer Scalzitti just finalized a lease with popular wine bar The Blind Monk on behalf of the brand-new AKA Hotel in downtown West Palm Beach.

 

The Blind Monk bar is set to relocate
 from its current location to the
695 South Olive Avenue hotel in
Downtown West Palm Beach, FL

 It leased a ground-floor space with 2,209 interior square feet and a 1,197-square-foot outdoor patio. The Native trio is in active negotiations with prospective tenants for additional retail and restaurant spaces at the hotel.

 AKA Hotel is scheduled to open in November 2022.

 

Jaime Sturgis

Founded by former U.S. Marine Capt. Ben Lubin in 2010, The Blind Monk is a big hit with downtown West Palm Beach residents, professionals and visitors. 

Lubin is a graduate of the French Culinary Institute and a Certified Sommelier. The Blind Monk serves wine by the glass or bottle, craft beer, tapas, build-your-own cheese and charcuterie boards – and more.

Ben Lubin

“This lease is a great example of how Native activates the retail and restaurant components of hotel and multifamily developments,” Sturgis said.

 “The Blind Monk has a huge following and should enjoy tremendous success at the AKA Hotel. Our team is actively securing new leasing and investment sales assignments in West Palm Beach and throughout Palm Beach County to place the other top-tier tenants we are representing.”

 

Spencer Scalzitti 

The 8-story AKA Hotel consists of 215 hotel rooms, with on-site parking for the retail and restaurant spaces. It benefits from proximity to Rosemary Square, City Place and the Brightline high-speed rail station connecting Palm Beach County with Broward and Miami-Dade counties.

 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.

  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 Capital Markets closes $41 million sale and secures the $30 million acquisition financing for the 272-unit Stonewood Village in Madison, WI

Amanda Friant

 

 CHICAGO, IL – JLL Capital Markets has closed the $40.8 million sale and arranged the $29.81 million acquisition financing for Stonewood Village, a 272-home, value-add, garden-style multi-housing community in Madison, Wisconsin.

Stonewood Village, a 272-home, value-add
garden-style multi-housing community
 in Madison, WI

 JLL represented the seller, Stonewood UI, LLC, an affiliate of Banner Real Estate Group. Axiom Properties acquired the asset.

Medina Spiodic

Working on behalf of the new owner, JLL secured the 10-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender.

 The JLL Capital Markets Investment Advisory team was led by Senior Director Wick Kirby, Director Amanda Friant and Senior Managing Director Jamie Fink. The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Matthew Schoenfeldt and Associate Medina Spiodic.

Wick Kirby

 Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

Stonewood Village features one- and two-bedroom units with an average size of 1,004 square feet.

 The units currently feature spacious floorplans, in-demand private entries, patios or balconies,washers and dryers and dishwashers in every unit.

 Community amenities include a playground, tennis courts, a leasing office, a maintenance garage and a pool.

The property has opportunity for both a programmatic interior renovation plan and an enhancement to the existing community amenity package.

Jamie Fink

Situated at 302 Parkwood Ln. and adjacent to the Hiestand Park, Stonewood Village is ideally located less than a 15-minute drive to Downtown Madison and easily accessible to Interstates 90 and 94, Highways 30 and 51, the Dane County Regional Airport and abundant retail.

The property has access to top tier employment, including UW Health, State Capitol building, American Family Insurance, WPS Health Insurance, MATC and East Madison Hospital.

 The community is also proximate to the world-class University of Wisconsin, which boasts 45,000 students and Big Ten Division I athletics.

 “This was a fantastic opportunity to work with two very important clients on a deal in an excellent location,” Kirby said.

Matthew Schoenfeldt 

“Madison as a market has experienced extraordinary rent growth, which was reflected in Stonewood’s operations. 

"The property is well-positioned for future renovation upside.”

 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 Associate, Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

Copper State Bolt & Nut Grows 50-Year Presence to serve Phoenix West Valley Boom

 Sarah Shannon

 

 GOODYEAR, AZ – Phoenix-based, family-owned-and-operated Copper State Bolt & Nut Co. is expanding its 50-year Valley presence with a new Class A distribution center in the award-winning PV 303 industrial park in Goodyear, Arizona.

 

Being built by leading local general contractor Stevens-Leinweber Construction (SLC), the project was prompted by the growth of Phoenix’s far West Valley, where Copper State customers are actively involved in a growing list of projects and will benefit from a more immediate access point for Copper State products.

“Like Copper State, our company has a multi-decade tenure built on strong customer- and employee-centered core values,” said Stevens-Leinweber Construction Vice President Erik Powell.

Erik Powell

“We are proud to have been chosen by Copper State for this project and to be a part of their growth in Arizona and the region.”

 

The architect for the new Copper State building is Winton Architects. The project is under construction now, with delivery expected in January 2023.

 

Founded in Phoenix in 1972 with six employees, Copper State today employs almost 500 and supports more than 20,000 customers across the West and Southwest.

 

It provides traditional fasteners, construction products, industrial supplies and specialty products to a wide range of construction- and manufacturing-related industries.

 

“We have spent 50 years evolving to support our fast-paced, service-oriented industry, and our latest expansion is no exception,” said Copper State CEO Sarah Shannon.

 

“This new facility expands our reach farther into Phoenix’s West Valley than we have been before, where so many of our customers are building and operating in response to a nearly unprecedented commercial and residential boom.

 

"With our location at PV 303, we will be right where they need us to be.”

 

Copper State operates more than 30 facilities in Arizona, California, Colorado, Montana, Nevada, New Mexico, Texas, Utah and Washington. Ten of those are in Arizona, including the company’s manufacturing and assembly headquarters.

 

The new Copper State warehouse and distribution building will total 39,491 square feet on 5 acres at the southwest corner of the Loop 303 and Camelback Road.

 

 

 

CONTACT:

 

Stacey Hershauer

stacey@focusaz.com

480.600.0195