Cozza Realty Group Inc., powered by Cozza Investment Group, has built a team of 20 bilingual and diverse agents, including three new hires

 

Vanessa Pagán

MIAMI, FL -- Cozza Realty Group Inc., powered by Cozza Investment Group, has built a team of 20 bilingual and diverse agents, including three new hires.

The new hires are Anthony Tiljak, Vanessa Pagán, and Andy Molina.

Anthony Tiljak

This incredibly talented group of agents is set to grow with CIG along both coasts of Florida.

 With 20 years of experience, the leading luxury brokerage recently entered the South Florida market. 

Andy Molina

Each agent specializes in luxury homes throughout the Miami metro area, Downtown Miami, Brickell, Wynwood, Coral Gables, and Coconut Grove, with plans to expand to Palm Beach shortly.

 

Brad Cozza

Owner and founder of the investment real estate firm Cozza Investment Group, Brad Cozza, provides education and mentoring to his agents.

 

CIG agents are vetted and, once chosen, are impeccably dressed on the job, learn specific vocabulary, and how to talk on the phone.

 

 All the agents are trained based on Cozza’s experience weathering down and up markets.

 

Contact: 

 

 Claudia Safavi
​Account Coordinator

 

Phone: 917.242.2024

Address: 1666 Kennedy Causeway, Suite 703, Miami Beach, FL 33141

Web: www.taraink.com

 

 

JLL adds industry veterans Michael McDonald and Jonathan Napper to Investment Sales & Advisory platform

 

Mark Gibson

DALLAS, TX – JLL Capital Markets is pleased to announce the addition of Michael McDonald and Jonathan Napper as Senior Managing Directors in its Investment Sales & Advisory business.

 

Michael and Jonathan have worked together as a team for over eight years and established themselves in that time as one of the most accomplished office investment sales teams in the U.S. having completed over $25 billion of office sales transactions in the major Sunbelt markets.

 

Per Mark Gibson, Chief Executive Officer of JLL Capital Markets, “The hiring of Michael and Jonathan evidences JLL’s on-going commitment to grow our national and global capital markets businesses as well as our long-term confidence in the office vertical as a primary asset class within the commercial real estate industry.”

Michael McDonald

Prior to his tenure at Cushman & Wakefield, McDonald spent 18 years at Eastdil Secured and ultimately ascended to a Managing Director on its Management Committee responsible for both the office investment sales platform across the Sunbelt as well as overall direction of the firm and its endeavors on a national and international basis.

 

McDonald has handled more than $70 billion of capital markets transactions during his career, including office, retail, multi-housing and logistics assets in addition to strategic investment banking transactions.

Jonathan Napper

Prior to Napper’s tenure at Cushman & Wakefield, he was with Eastdil Secured, where he opened the firm’s office in Texas and focused on institutional office sales and financing assignments throughout Texas and the Southeast.

 

He spent the early part of his career on the principal side of the business completing more than $3 billion in office, industrial and multi-housing acquisitions and development. 

 

“We are thrilled to welcome Mike and Jonathan to JLL. Their experience and skillsets are excellent complements to our existing teams,” said Andrew Levy, a Senior Managing Director and Co-Head of the JLL Dallas Capital Markets group.

Andrew Levy

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 advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 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 Director

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 

Stos Partners sells 183,000-SF industrial asset in Pomona, CA for $46 million after paying $21 million for the property in July 2021

 

Aerial photo of 182,275 square-foot industrial building
 located at 159 North San Antonio Avenue
 in the infill Los Angeles County
submarket of Pomona, CA

POMONA, CA -- Stos Partners, one of the most active commercial real estate investment and management firms in Southern California, announced its recent disposition of a 182,275 square-foot industrial building located at 159 North San Antonio Avenue in the infill Los Angeles County submarket of Pomona, California for $45.9 million.

CJ Stos

Stos paid $21 million for the property in July 2021.

Stos self-represented itself as the seller in the transaction. Jeffrey Cole, Jeffrey Chiate, Bryce Aberg, Brad Brandenburg, Mike Adey, and Zachary Harman of Cushman & Wakefield represented the buyer in the transaction.

Jeffrey Cole

“As a highly active buyer in Southern California, our firm leveraged its close relationships with local brokers to acquire this asset in 2021,” says CJ Stos, Principal at Stos Partners.

“Upon a successful year of ownership, we were able to capitalize on the strong market demand for industrial space in Los Angeles County and secure a premium sale price for this property.”

Jeffrey Chiate

Demand for well-situated industrial space in the market has skyrocketed since 2021, with warehouse properties commanding a 63.1% higher sales price point in Q2 compared to the previous quarter. Stos Partners took advantage of the limited availability of this space in the market to seek out a buyer.

“This quarter, we have seen vacancy levels an all-time low in Los Angeles,” notes Tanner Jansen, Vice President of Acquisitions at Stos Partners. “At a vacancy rate of 0.9%, the second lowest in the U.S., Los Angeles continues to appeal to both users and owners.

Tanner Jansen

"This asset offers the buyer immediate cash flow and long-term value creation opportunities over the next several years.”

          The project is situated on 8.48 acres of land and is 100% occupied by an in-place tenant, credit-backed manufacturing and distribution company.

“The fact that there is a continuing occupier at this property demonstrates the strong demand for prime industrial space by users in the area,” notes Jason Richards, Partner at Stos Partners.

Jason Richards

“Tenants have been quick to renew leases and secure their spot in the tight Los Angeles market, making this asset especially desirable for investors.”

Amenities at the rail-served property include 18 dock- and 12 grade-level doors, 19’ to 21’-high ceilings, 7,200 square feet of office space, 82 parking spaces, two street entrances, and convenient access to nearby shipping ports and airports to facilitate distribution processes.

Jay Boyle

“Given the fierce competition and scarce inventory available for amenitized, well-located industrial properties in the Los Angeles region, the move to sell this asset was a strategic and well-planned initiative for our firm,” says Jay Boyle, Executive Vice President at Stos.

“We identified an excellent opportunity to benefit from the ongoing growth of this market and the property’s multitude of attributes.”

 

Contacts: 

Arleeny Escarcega / Katie Haga

The Smart Agency, Inc.

(949) 438-6262

aescarcega@thesmartagency.com

 

Mortgage rates nearly doubled since beginning of year, reaching highest levels since 2007

 

John Oharenko

Chicago, IL –  The Real Estate Capital Institute (RECI) notes September delivered challenging news to the real estate capital markets.  

A strong dollar, return to domestic manufacturing, and low unemployment kept the Fed on edge about taming the economy and triggering more interest rate hikes, leading to a 75-basis-point increase. 

John Oharenko, the Real Estate Capital Institute’s® director, recommends, "this fall's real estate capital markets remain in flux, as investors attempt to understand the Fed's plan for taming inflation."

 

The US stock market officially reached a recession.  Also, multifamily investors witnessed apartment rents dropping from record highs across the country for the first time in nearly two years. 

Conversely, millions of apartment dwellers found financial relief after suffering a barrage of rent hikes during the pandemic. 

 

In addition to interest rate hikes and softening demand, debt investors require higher mortgage spreads to cover the uncertain pricing environment. 

 Mortgage rates have more than doubled since the beginning of the year, reaching the highest levels since 2007.  Investors are preparing for more rate hikes in the coming months, showing signs of hawkish rate expectations. 

 Given the expectations of higher rates, overall mortgage pricing favors longer-term debt of ten years or more, as the yield curve remains inverted.   

 Permanent, fixed-rate debt for ten-year mortgages falls within the 120 to 200 basis point range over benchmark treasuries.  

Within this range, 80% LTV loans with a minimum debt service coverage of 1.25X typically cost 40 to 50 basis points more than 65% LTV loans for apartment properties.  Overall rates translate to about 5% to 6%.  

Also, lenders maintain similar underwriting parameters for shorter-term debt, with comparable-term treasuries hovering approximately ten to twenty basis points higher than longer-term debt. 

 

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields.  

 

The Institute posts daily and historical benchmark rates, including treasuries, bank prime, and LIBOR.  

 

Contact:

 

John Oharenko, 

Executive Director

director@reci.com / www.reci.com

^The   Real Estate Capital Institute^® 

Chicago, Illinois USA 60622

JLL Capital Markets arranges the $27 million construction financing for the 61-unit Onyx on Park apartments in San Diego, CA

 

Olga Walsh

SAN DIEGO, CA – JLL Capital Markets has arranged the $26.9 million construction financing for Onyx on Park, a 61-unit, urban infill multi-housing community located in the Hillcrest neighborhood of San Diego, California.

 

JLL represented the borrower, DiversyFund, Inc. with Highland Construction to secure a 74% loan-to-cost fixed-rate financing package consisting of an $18.95 million senior loan and a $7.96 million mezzanine loan. 

Bryan Clark

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Bryan Clark, Director Olga Walsh and Associate Daniel Pinkus.

 

“Even in this unusually volatile market, there was an incredible amount of enthusiasm from lenders for this project. In turbulent times, there’s always a flight to quality, and Onyx on Park will be one of the highest quality apartment communities in Hillcrest,” Clark said.

  

Diversyfund selected this combination of lenders due to their ability to provide competitive proceeds and excellent loan terms, including a fixed interest rate to alleviate any interest rate risk during the loans’ co-terminus five-year term.

Daniel Pinkus

With an anticipated completion of Q4 2023, the seven-story Onyx on Park will feature one- and two-bedroom units with an average size of 912 square feet.

 

Situated at 3922-3932 Park Blvd. the site is located four blocks east of the I-163 Freeway in the Hillcrest submarket at the intersection of Park Boulevard and University Avenue.

 

Residents will benefit from immediate access to over 230 restaurants and bars in the Hillcrest epicenter, walkable neighborhood amenities and major employers, including UC San Diego Medical Center, Scripps Hospital and SPAWAR.

  

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

 

CONTACT:

Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

www.DiversyFund.com