JLL Capital Markets completes sale of Shady Grove Professional Centers I and II in Rockville, MD

Shady Grove Professional Centers I and II,
 two multi-tenant medical office buildings
 totaling 103,249 square feet
n Rockville, MD

 

 BOSTON, MA – JLL Capital Markets has closed the sale of Shady Grove Professional Centers I and II, two multi-tenant medical office buildings that total 103,249 square feet in Rockville, Maryland adjacent to the Adventist Healthcare Shady Grove Medical Center. The price was not disclosed.

Mindy Berman

JLL marketed the property on behalf of Anchor Health Properties and MedProperties. An affiliate of Heitman LLC (Heitman), a global real estate investment management firm, acquired the asset.

Amanda Davis 

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Brannan Knott, Senior Managing Director Mindy Berman, Directors Dave Baker and Anthony Sardo, Senior Director Chris Hew and Associate Landon Weaver.

Brannan Knott,

Leasing support is provided by Senior Managing Director Amanda Davis and Senior Vice President JG Cahill.

“This was an ideal time to buy, as the Shady Grove medical office market continues to experience considerable expansion with the hyper growth of the life science submarket and the construction of the new Adventist Healthcare bed tower,” Knott said.

“The Shady Grove Professional Centers garnered significant interest from the healthcare investment community from industry veterans such as Heitman and new entrants due to the rare scale, acuity and campus adjacent location within a sought-after metro.” 

Dave Baker

The buildings are 87%-leased to a variety of tenants and are anchored by Capital Digestive Care, Johns Hopkins and independent physician groups.

Shady Grove Professional Centers I and II are multi-specialty clinical buildings with more than 15 medical specialties and ambulatory surgery centers with 18 operating and procedure rooms.

Aside from surgery centers, the properties include top specialty practices such as gastroenterology, MRI and imaging, pediatrics, primary care, family care and ophthalmology among others.

 Located at 15001 and 15005 Shady Grove Rd., Shady Grove Professional Centers I and II are adjacent to the 329-bed Adventist Healthcare Shady Grove Medical Center, the market leading acute care center in the area.

 Anthony Sardo

The properties benefit from their position within the D.C. Metro, the sixth largest in the U.S. with nearly 6.3 million citizens.

The average household income within a three-mile radius of the buildings is $156,056 and 65.2% of residents in the Shady Grove submarket hold a bachelor’s degree or higher.

 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.

Chris Hew

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.

About Anchor Health Properties

Established in 1985, Anchor Health Properties is a national, full-service healthcare real estate development, management and investment company focused exclusively on healthcare facilities.

 Founded on many of the same principles basic to the creation of a successful retail center, their strategic, holistic approach to navigating competitive healthcare markets evolved from their days in retail development.

Landon Weaver

About MedProperties

MedProperties is a national dedicated healthcare investment manager investing in stabilized, near stabilized and value-add healthcare properties as well as ground up developments. 

MedProperties has invested in over 100 healthcare properties encompassing four and half million square feet across 28 states. 

 

About Heitman

Founded in 1966, Heitman LLC is a global real estate investment management firm with more than $53 billion in assets under management. 

JG Cahill

Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies. 

Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. 

Headquartered in Chicago, with additional offices in North America, Europe, and Asia-Pacific, Heitman’s approximately 350 employees offer specialized expertise – from a specific discipline to local insight.

 

CONTACT:

Cierra Lacasse

 JLL Associate

Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

 

Regency Centers Announces Leadership Promotions and Expanded Roles

  

Lisa Palmer

 JACKSONVILLE, FL (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) (Nasdaq:REG) announced the following forthcoming leadership promotions, effective January 1, 2023, as well as an expansion of roles on our investments team.

Patrick Conway

• Patrick Conway will become Managing Director, West Region. Since 2020, Patrick has been a Senior Vice President and Senior Market Officer, overseeing operating properties and redevelopment projects within Regency’s Western Region. He joined Regency as a Vice President in 2011, prior to which he spent two decades in real estate development.

• 

  Andre Koleszar

  Andre Koleszar will become Managing Director, Southeast Region. Since 2016, Andre has been a Senior Vice President and Senior Market Officer, overseeing operating properties and redevelopment projects within Regency’s Southeast Region. He joined the Company as a Leasing Agent in 2005, and was promoted to Vice President in 2008. Prior to Regency, Andre spent several years in private equity focusing on leasing and transactions.

John Mehigan

• John Mehigan and Chris Widmayer, both Senior Vice President of Investments, have transitioned into elevated and expanded roles. Going forward, both will have greater responsibilities in national investment strategy including development and capital allocation.

Chris Widmayer

These promotions and expansion of current roles follow previously-announced changes to Regency’s executive management team, which will also be effective January 1, 2023.

 Jim Thompson

These include the retirement of Executive Vice President and Chief Operating Officer Jim Thompson, and the promotions of Alan Roth to Executive Vice President, National Property Operations and East Region President, and Nick Wibbenmeyer to Executive Vice President, West Region President.

Alan Roth

“Patrick, Andre, John and Chris are all proven real estate professionals with extensive experience in the industry. I’m proud to see their contributions recognized as they take on bigger roles and responsibilities at Regency,” said Lisa Palmer, President and Chief Executive Officer.

 “We are fortunate to have a deep bench of talented senior leaders that continue to grow within our organization.”

CONTACTS

Christy McElroy
904 598 7616
ChristyMcElroy@regencycenters.com

Eric Davidson
904 598 7829
EricDavidson@regencycenters.com

RegencyCenters.com.

Arcadia Management Group Expands Texas Presence; Sara Pilar relocates to market as Regional Director of Property Management

 

Sara Pilar

PHOENIX, AZ, Sept. 15, 2022 — Initiating a growth push in the state of Texas, property management leader Arcadia Management Group (AMG) has relocated and promoted Sara Pilar to Regional Director of Property Management.

Based out of Austin, Pilar deepens AMG’s Texas leadership bench.

 In her new role, Pilar will be responsible for the day-to-day management operations of AMG’s Texas properties and will also work in tandem with AMG President of Texas Operations Joe Ford to expand the company’s property management footprint in the state, to include account growth and the development of its Texas property management team through significant new hires.

 

Gary Shaw

“Sara’s thorough understanding of property management is matched by her genuine commitment to our clients,” said Arcadia Management Group President Gary Shaw.

“We’re so appreciative that she agreed to relocate to be ‘boots on the ground’ in Texas – ready to respond to the state’s growing demand for property management services in what we consider to be a tremendous market for commercial real estate.”

Pilar previously served AMG as a Senior Property Manager.

She holds a bachelor’s degree in Graphic Communications and an associate degree in Business from Chowan University.

Pilar also is a Certified Manager of Commercial Properties (CMCP) and a member of the Austin Building Owners and Managers Association (BOMA).

 CONTACT:

Stacey Hershauer

FocusAZ

480.600.0095

stacey@focusaz.com

www.arcadiamgmt.com.

 

 

The UP Companies Promotes Paul Renaud to Square UP General Manager

 

Paul Renaud 

St. Louis, MO -- The UP Companies (UPCO) proudly announces the promotion of Paul Renaud to include the expansion of his duties to General Manager of all Square UP Builders’ operating divisions.  Renaud was previously the General Manager of Square UP’s Drywall Division which was established in 2018. His scope of responsibility as GM will now also include Square UP’s Framing & Rough Carpentry division as well as Square UP’s Finish Carpentry & Trim division. Brian Arnold As Square UP’s General Manager and member of UPCO’s Leadership Team, Renaud plays a key role in the development of company strategic plans including Vision, Market Positioning, and Goals/Critical Success Factors.  On a day-to-day basis he is focused on the implementation and successful execution of the supporting objectives necessary to accomplish these company plans and market position. “Paul is a General Manager with performance-driven project experience. His wealth of knowledge and experience benefits our Leadership Team, and his entire team of construction professionals.  "He is an extremely positive and high-energy individual who has learned over the years how important it is to recognize excellent performance and to celebrate the small victories in our fast-paced industry,” said UPCO President Brian Arnold.   Renaud has nearly 45 years of management experience, having previously worked as Director of Self Perform at PARIC Corporation and as General Manager at McBride and Son Companies. City of O'Fallon, MO He has also served as Mayor of the City of O'Fallon, MO for 10 years from 1995 to 2005 and previously served on the St. Louis Carpenters Joint Apprenticeship Board and St. Louis YouthBuild Leadership Steering Committee.   CONTACT:

Jennifer Beidle
Jennifer Beidle Communications
St. Louis, MO 63129

Elisabetta and Stella Projects Awarded ‘Developments Of Distinction’ By Novogradac

 

 Rebecca Arthur

DENVER, CO, Sept. 15, 2022 — Gorman & Company has won the Novogradac 2022 "Developments of Distinction" award for Excellence in Affordable Housing for The Elisabetta and Stella projects in Denver, Colorado.

“This year’s winners show what happens when passionate people work together to make a difference,” said Rebecca Arthur, Novogradac partner and chair of the conference.

“The Stella and Elisabetta are shining examples of Gorman & Company’s growing portfolio of permanent supportive housing communities across the US that serve special needs populations.

"Our partnership with Lardon Hall is the key to what will make these developments successful over the long term.

Kimball Crangle

"We are incredibly grateful to Laradon Hall, as well as the City of Denver and the State of Colorado, for coming together to make this public/private/non-profit partnership happen,” said Kimball Crangle, Gorman & Company Colorado Market President.

The Elisabetta, a new construction, mixed-use development, includes 91 units of affordable housing in the Globeville Neighborhood in North Denver.

 The Elisabetta

The new community serves residents and households earning 30%, 50%, and 60% of the Area Median Income (AMI).

Twenty-five percent (25%) of the units in the development are set aside for residents with intellectual and developmental disabilities. The first floor includes 12,500 square feet of space for the Laradon Adult Day Program.

The Stella interior

The Stella is a newly constructed 132-unit mixed-use community next door to Elisabetta and includes 6,000 square feet of space for Laradon Career Center.

The designs of Elisabetta and Stella were influenced by the concept of Trauma-Informed Design (TID) that promotes safety and well-being in the design processes, spaces, and programs. 

CONTACT:

Ben Sefarbi
608.442.6336
ben@thecreativecompany.com

 

JLL’s Hotels & Hospitality Group closes the sale of The Waterford Inn & Spindler’s Restaurant on Cape Cod in Provincetown, MA.

The Waterford Inn,  a 15-room property
 in Provincetown, MA

 BOSTON, MA – JLL’s Hotels & Hospitality Group announced today that it has closed the sale of

The Waterford Inn & Spindler’s Restaurant, a 15-room inn and a 145-seat restaurant in Provincetown, Massachusetts.The price was not disclosed.

 

Jessica Rosenberg

JLL marketed the property on behalf of the seller, THG Properties, LLC, in the sale to Sawyer Realty Holdings, LLC. 

Sawyer Realty and its affiliate hotel management company, Meads Bay Hotel Group, own and manage 7 hotels throughout Massachusetts.

Meads Bay was founded in 2021 by Jessica Rosenberg as a vehicle to manage the companies’ boutique hotel portfolio.

Spindler’s Restaurant, a 145-seat facility
 in Provincetown, MA

The Waterford Inn and Spindler’s is Meads Bay’s third acquisition in Provincetown this year and is a natural addition for the company.

Set in an 1850’s Sea Captain’s mansion and renovated from 2016-2018, The Waterford Inn provides harbor views. Inn amenities include complimentary breakfast, WiFi, room service, and sparkling/still water filtration.

Alan Suzuki 

The property includes 15 guest rooms including a two-bed inn keeper unit, a restaurant, small café, a 454-square-foot cottage and lush gardens and patio lounge seating.

Opened in 2016, Spindler's Restaurant offered an inspired menu of classic, French-style cuisine with Italian soul and the freshest of Cape Cod and New England ingredients.

 By popular demand Spindler’s transitioned to serve Sabores de Mexico, a modern authentic Mexican cuisine full of flavor using the freshest of ingredients

Provincetown is one of the most desirable leisure destinations in New England, only 116 miles from Boston, 122 miles from Providence and 293 miles from New York City.

The city is accessible by a variety of transportation options, including Interstates 495 and 195, Route’s 3 and 6, ferry boats departing from MacMillan Pier, Provincetown Municipal Airport and Peter Pan Bus Company.

 

Matthew Enright

The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki and Director Matthew Enright.

 JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. 

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

  

CONTACT:

 Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

JLL Capital Markets secures $25 million financing for the 160-unit Stonegate Riverside apartments in Riverside, CA

 

Stonegate Riverside apartments, 
a 160-unit, 1987 vintage, value-add,
 garden-style multi-housing
community in Riverside, CA

SAN FRANCISCO, CA – JLL Capital has arranged the $24.64 million acquisition financing for Stonegate Riverside, a 160-unit, 1987 vintage, value-add, garden-style multi-housing community in Riverside, California.

 JLL represented the borrower, Universe Holdings, to secure the ten-year, fixed-rate loans through Freddie Mac Multifamily. The loans will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

Jolie Zhou

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Charles Halladay, Director Jonah Aelyon and Analyst Jolie Zhou.

Stonegate Riverside features studio, one- and two-bedroom units with spacious kitchens, stainless steel appliances, vinyl plank flooring, over-sized patios or balconies, walk-in closets and an average size of 801 square feet.

Communities include a spa, pool, playground, business center, picnic area, fitness center and dog park.

 

Charles Halladay

Situated at 6506 Doolittle Ave., Stonegate Apartments allows residents access to over 1.9 million jobs in the Inland Empire and benefit from proximity to five major freeways (60, 91, 10, 15, 215) that put millions of jobs in Orange County and Los Angeles County within manageable commute times.

 “With its strong population growth, growing job opportunities and affordable cost of living, the Inland Empire checks all the boxes when it comes to demand drivers we look for in a new market,” said Universe Founder and CEO Henry Manoucheri.

Jonah Aelyon 

“The market’s relative affordability is one of several key factors that we value in this market.”

 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.

 Henry Manoucheri

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.

CONTACT:

Jenna Sharp

 JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

Edyth Bush Charitable Foundation Celebrates Completion of New Flagship Office Building in Winter Park, FL – Hold Thyssen Named Exclusive Management Representative

 

Rendering of planned Edyth Bush Charitable Foundation, 199 S. Knowles Avenue at the corner of Welbourne Avenue in downtown Winter Park, FL

WINTER PARK, FL – Hold-Thyssen, Inc. a full service commercial real estate firm, has been named the management representative for the Edyth Bush Charitable Foundation’s newly completed flagship office building.

The new headquarters is officially opening September 15 at 199 S. Knowles Ave. at the corner of Welbourne Avenue in downtown Winter Park.

Robert P. Hold

Known formally as “The Edyth,” the 14,500 square foot, one-of-a-kind, Class A+ office building was designed by the renowned architectural firm of SchenkelSchultz.

 The Edyth will house the Foundation’s headquarters in the 6,000 square foot top floor, with the Alfred I. duPont Trust occupying the second-floor tenant suite.

Vik Mahadeo

The first floor also boasts a spacious and versatile meeting center for use by the Foundation and invitees for special events and meetings. Orlando-based Jack Jennings & Sons was the general contractor on the project.

Robert P. Hold, Principal at Hold-Thyssen said Associate Vik Mahadeo is leading his firm’s management team for the Foundation’s building, covering all responsibilities from facilities management, coordinating systems maintenance, vendor relations and scheduling routine maintenance and repairs.


 
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