JLL Capital Markets arranges the $68 million sale of and financing for 210 University, an office and retail building in Denver’s Cherry Creek North

Jane Fletcher

 

 DENVER, CO – JLL Capital Markets has closed the sale of and arranged acquisition financing for 210 University, a mixed-use development with office and retail space totaling 140,832 square feet in the Cherry Creek North district of Denver, Colorado.

Hilary Barnett

 JLL marketed the property on behalf of the owner in the sale to a joint venture led by Corum Real Estate Group and Koch Real Estate Investments (KREI). Financial details were not disclosed.

 In addition, JLL worked on behalf of the new owner to secure a five-year, interest-only, fixed-rate loan with a national balance sheet lender.

Peter Merrion

 “210 University is the gateway to Cherry Creek North.  The partnership is thrilled to succeed to ownership of this high performing asset in this high performing submarket, especially in Corum’s backyard” added Jane Fletcher, Executive Vice President of Corum, who spearheaded the acquisition.

Kristian Lichtenfels

 210 University is 89.4%-leased to a variety of tenants, including Baird, US Bank, Cherry Creek Imaging and Western Veterinary Partners among others.

 The building includes two ground-floor retail spaces occupied by Little Ollie’s and Paradise Cleaners. The property also includes one of the largest parking garages in the parking constrained Cherry Creek North district.

William Haass

 210 University prominently sits 10 minutes from downtown Denver at the most trafficked intersection in all of Cherry Creek North, a 16-block business improvement district known for being home to Denver’s best restaurants, shops and hotels.

Leon McBroom

 The property is flanked by University Blvd. and Josephine Street, two of the area’s major commuter and pedestrian arterials.

 The property is surrounded by Denver’s most affluent neighborhoods, attracting a strong tenant demand and employee base to the area.

 Cherry Creek North boasts exceptional neighborhood demographics with 78% of the area’s 7,800 residents holding a bachelor’s degree or higher and household incomes averaging $178,000.

Mark Katz

Cherry Creek North has the lowest vacancy rates and highest office, retail and multi-housing rents in the entire Denver Metro, making the market highly desirable to investors and lenders alike.  

 The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Peter Merrion, Senior Managing Director Mark Katz and Senior Director Hilary Barnett.

“Cherry Creek is one of the best performing submarkets in the country, and 210 University's location at Cherry Creek's front door drove substantial interest from both buyers and lenders,” said Merrion.

 A mixed-use development with office
and retail space totaling 140,832 SF
 in the Cherry Creek North district
 of Denver, CO

“The new ownership's long-term strategy in this premier market is very exciting, and JLL is grateful to have worked with all parties on this opportunity."

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Kristian Lichtenfels, Director William Haass and Senior Managing Director Leon McBroom.

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

 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

 

Stan Johnson Co. brokers $15 million sale of Silver Lake Village north of Tulsa, OK

 

 Margaret Caldwell

 Bartlesville, OK --Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of Silver Lake Village, an 87,750-square-foot shopping center located at 2311 Southeast Adams Boulevard in Bartlesville, Oklahoma.

 Anchored by T.J. Maxx, Ross Dress For Less, Petco and ULTA, the center was fully leased at the time of sale to 12 tenants.

 Stan Johnson Company’s Margaret Caldwell and Patrick Kelley represented the seller, GBT Realty Corporation based in Brentwood, Tennessee.

A Florida-based 1031 exchange private buyer acquired the asset for approximately $15.3 million.

Patrick Kelley 

 “Silver Lake Village was the perfect investment opportunity for this 1031 exchange investor who submitted a pre-emptive offer shortly after we hit the market,” said Caldwell, Managing Director and Partner in Stan Johnson Company’s Atlanta, Georgia office.

                The property is situated on 9.41 acres and shadow-anchored by the only Lowe’s within 30 miles. 

 

The shopping center boasts a signalized intersection with excellent visibility from Adams Boulevard and the adjacent recreational area, Lee Lake. Non-anchor tenants include Maurices, Kay Jewelers, Verizon, and other national retailers.

 Silver Lake Village shopping center,  Bartlesville, OK

“With the top-quality tenant lineup and minimal competition, Silver Lake Village is the premier center in the region and was highly sought-after by investors,” said Kelley, Associate Director in Stan Johnson Company’s Atlanta, Georgia office.

“We are very pleased to have been part of the Bartlesville community for the last seven years,” a representative from GBT Realty Corporation added.

 

CONTACT:

David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com

Real Estate Partner Jason Polevoy Joins Seyfarth’s New York Office

 

Jason Polevoy

NEW YORK, NY — Seyfarth announced the arrival of partner Jason Polevoy to the firm’s Real Estate practice in New York.

 Polevoy is a broad-based real estate practitioner with comprehensive transactional experience in virtually all practice areas, and first chair acquisition/disposition, leasing, and financing experience.

“Jason is a well-rounded real estate lawyer who guides clients in complex transactions in our highest demand areas—leasing, joint ventures, development, acquisition, sales, and much more,” said Paul Mattingly, partner and chair of the firm’s Real Estate department.

Paul Mattingly

“His experience closely aligns with the core of Seyfarth’s real estate practice, making Jason an incredibly valuable addition to a very busy department. We are excited to have him on the team and look forward to his contributions.”

Lorie Almon 

“Jason will play a major role in our New York-centric leasing practice,” said New York office co-managing partners Lorie Almon and John Napoli in a joint statement.

 “With Jason's arrival, we are continuing the strategic expansion of our thriving New York real estate practice, which has become a recognized market leader in providing holistic solutions to our clients.”

John Napoli 

Polevoy joins Seyfarth from Patterson Belknap. He earned his JD from the University of Pennsylvania School of Law in 1998 and a BA from the University of Pennsylvania in 1994.

Notably, Jason is the immediate past chair of the Real Property Law Committee of the New York City Bar Association.

Polevoy is the latest addition to Seyfarth’s growing New York office, which has added over 40 attorneys since the beginning of 2021, including nine new partners. Seyfarth operates one of the largest commercial real estate practices in the country, with more than 30 lawyers in New York.

 

CONTACT:

Allan Ripp, Ripp Media,

 (646) 285-1779, 

aripp@rippmedia.com

 

 

RKW RESIDENTIAL Adds Over 2,800 Apartments to Growing Portfolio in Asheville, NC and Huntsville, AL Markets

 

Marcie Williams

Charlotte, NC -- RKW Residential, one of the nation’s fastest-growing multifamily management firms, expanded its portfolio with 13 new community assignments totaling more than 2,800 apartments.

The assignments include RKW’s first communities under management in Asheville, North Carolina and Huntsville, Alabama.

In Asheville, RKW is overseeing leasing and management of McCall Capital’s Enclave Piney Mountain, a brand-new luxury community.

In Madison, Alabama, which is just west of Huntsville, RKW was retained by i3 Interests to lease and manage the newly constructed Highfield Madison community.

RKW’s recent expansion also includes five new assignments from existing client Bluerock Real Estate: Galleria Village, Greylyn Estates and Harrison Trace Apartments in Charlotte, Wayford at Concord in Concord, North Carolina and Glenwood at Grant Park in Atlanta.

 

Other new assignments include:

 

• LM Sandler & Sons Inc.’s The Lorrel in North Myrtle Beach, South Carolina and The NinetyNine in Raleigh, North Carolina
• Existing client Spectrum Properties’ Wellen community in Charlotte
• Zach Tran-led Diamondback Investment Group’s The Point at Caldwell Station in Huntersville, North Carolina
• Armada Hoffler’s Chronicle Mill, a unique adaptive re-use project in which a Belmont, North Carolina textile mill is being reimagined with apartments and shops
• Cherner Development’s 511 Queens in Charlotte

 

“Asheville and Huntsville are two markets experiencing incredible growth and development activity,” RKW CEO Marcie Williams said.

 “It is exciting to debut in both areas with a pair of stunning new apartment communities. We are also thrilled to significantly expand our presence throughout the Carolinas.”

 

Founded just eight years ago, RKW is one of the multifamily industry’s most compelling entrepreneurial success stories in recent memory.

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

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

 

 

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

 

JLL Capital Markets arranges $63 million financing for the development of Phase I of Logistics 16 at Ottawa Farms in Savannah, GA

 

Melissa Rose

 

ATLANTA, GA – JLL Capital Markets has arranged $62.83 million in construction financing for the development of Phase I of Logistics 16 at Ottawa Farms, a three-building, Class A industrial facility totaling 1,007,800 square feet in Savannah, Georgia.

Michael DiCosimo

JLL worked on behalf of the borrower, McCraney Property Company, to secure the three-year construction financing.

The JLL Capital Markets team representing the borrower was led by Managing Director Melissa Rose, Director Michael DiCosimo and Analyst Mateo Bolivar.

 The entire project will comprise nine buildings totaling over 4.5 million square feet of Class A industrial space.

Mateo Bolivar

The first phase of the project consists of three front-load buildings and will feature 225 loading doors of various sizes, 185’ deep truck courts, 330 car spaces and 305 trailer spaces.

 Phase I of Logistics 16 at Ottawa Farms is located on an 85.6-acre site at 702 Bloomingdale Road. The property has strong expressway access to the Port of Savannah, the Savannah/Hilton Head International Airport and Interstates 16 and 95.

 

 Port of Savannah

The site is within four-hours of major Southeast markets, including Atlanta, Orlando and Charlotte.

 The Port of Savannah is a core economic driver in this market, with a record 5.76 million TEUs processed at the port in 2022, an 8% increase over 2021 figures.

By 2030, the port is projected to have over 9 million TEUs of capacity driven by over $2.5 billion of public investment through the Georgia Ports Authority.

 This level of activity and investment will continue to cement this submarket as one of the strongest industrial clusters in the nation.

 

 

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 closes sale of the University of Missouri's The Wylder student housing community in Columbia, MO

Teddy Leatherman

 

 DALLAS, TX – JLL Capital Markets  has closed the sale of The Wylder, a 172-unit / 656-bed student housing community near the University of Missouri in Columbia, Missouri. The price was not disclosed.

 JLL worked on behalf of the seller, Trimont Real Estate Advisors. Tailwind Group acquired the asset.

Stewart Hayes

The JLL Capital Markets Investment Advisory team representing the borrower was led by Senior Directors Teddy Leatherman, Stewart Hayes and Scott Clifton and Executive Vice President Henry Voges.

Built in 1989 and renovated in 2000, The Wylder features fully furnished two- and four-bedroom units with black appliances, washers and dryers, faux wood flooring, double vanities and vaulted ceilings. Community amenities include a swimming pool, a study room, a computer room, a fitness center, a basketball and tennis court, a volleyball court and a bonfire area.

 

 Scott Clifton

Situated at 301 Campusview Dr., the property is positioned adjacent to Highway 163, one of Columbia’s main north-south thoroughfares that leads directly to campus.

 Located approximately 1.7 miles south of campus, students have convenient access to all the university’s retail, restaurant and entertainment attractions.

The community is well-positioned to attend the Mizzou Tigers’ state-of-the-art Memorial Stadium via S. Providence Road.

 Additionally, residents are proximate outdoor recreation with the nearby Corporate Lake and Hinkson Creek Trail.

Henry Voges

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:

 

 Jenna Sharp, JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

 

JLL’s Hotels & Hospitality Group closes sales of the Marriott-branded Fairfield Inn hotels in Woburn, MA and Portsmouth, NH

Emily Zhang

 

 BOSTON, MA – JLL’s Hotels & Hospitality Group announ has closed the sale of two Marriott-branded, select-service hotels in New England.

 

The hotels include Fairfield Inn Boston Woburn/Burlington in Woburn, Massachusetts and Fairfield Inn Portsmouth Seacoast in Portsmouth, New Hampshire.The sales prices were not disclosed.

 

JLL marketed the property on behalf of the seller, a joint venture of funds managed by Contrarian Capital Management and Waramaug Hospitality. The hotels were offered unencumbered by management.

 Alan Suzuki

The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Alan Suzuki, Director Matthew Enright and Analysts Emily Zhang and Miranda Guajardo.

 

Fairfield Inn Boston Woburn/Burlington (126 keys) and Fairfield Inn Portsmouth Seacoast (102 keys) both underwent significant renovations in 2015 and 2016.

 

Both hotels offer a standard mix of traditional guest rooms, complimentary breakfast, a business center, fitness center, seasonal outdoor pool and sundry store, as well as free on-site parking.

 

Fairfield Inn Boston Woburn/Burlington is located 10 miles northwest of Boston at the intersection of Interstate 95/Route 128 and I-93.

Fairfield Inn Boston Woburn/Burlington, Woburn, MA

In addition, Logan International Airport is located 20 minutes from the property, which is also near the Anderson/Woburn station serviced by the MBTA Lowell Line Commuter Rail and the MBTA Route 134 bus.

 

 Aside from being a short distance from the attractions offered in downtown Boston, the hotel is in the business district of Woburn near local attractions such as the Lexington Battle Green, Horn Pond Reservation, Forest Park and Shaker Glenn.

 

Fairfield Inn Portsmouth Seacoast is 50 miles north of Boston and is proximate to I-95 and U.S. Route 1.

 Matthew Enright

The hotel is centrally located just minutes from Pease International Tradeport, Liberty Mutual and the Portsmouth Naval Shipyard.

 

Additionally, the property is proximate to the city’s waterfront, Portsmouth Music Hall, 3S Artspace, Prescott Park, the Kittery Mall Outlets and more.

 

The city is often featured on various “best places to live lists” and has been named by Forbes Traveler as one of America’s Prettiest Towns.

 

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