Blackton Inc. Will Supply Up to 8,000 Homes for Maronda at Indian Lakes Estates in Poinciana, FL

Michael (Micky) Blackton,

 

 ORLANDO, FL and POINCIANA, FL  --- Blackton, Inc., one of Central Florida’s largest and most active suppliers of materials for the homebuilding industry was awarded a contract from national builder Maronda Homes to provide flooring for new single-family homes at Indian Lakes Estates in Polk County.

Michael (Micky) Blackton, chairman of the firm, said the contract – valued at nearly $50 million through buildout --  is for supply of up to 8,000 single-family homes Maronda  plans to build at Indian Lakes Estates, a resort-style community located within master planned Poinciana.   

Work started in early October on more than a half-a-dozen of Maronda’s new homes under construction, he said.   

Indian Lakes Estates, Poinciana, FL

“There’s no slowdown in homebuilding in Polk County, especially for one of our oldest customers, Maronda Homes,” said Blackton. 

The family-owned business headquartered on Alden St. north of downtown Orlando – with branch locations in Leesburg, Daytona and South Orlando, has been supplying the home building industry from Jacksonville to Tampa for more than six decades.

 

 

Contacts: 

 

Michael “Micky” Blackton,

 Chairman,

Blackton Inc.

407-898-2661

 Micky@Blacktoninc.com

 

Beth Payan, Larry Vershel Communications

 407-461-3781

 beth@larryvershel.com 

 

Trion acquires 160-unit community in Savannah, GA submarket for $$38 million

David Moghavem

 

·   POOLER, GA – Trion Properties, a multifamily investment sponsor and private equity real estate firm based in West Hollywood, California and Miami, Florida, has announced two key strategic initiatives to bolster the firm’s growth in the Southeast.

They are  Pooler Station, a 160-unit multifamily community located at 100 Oglethorpe Drive in the Pooler submarket of Savannah, Georgia for $38.45 million, and the promotion of industry veteran David Moghavem to Director of East Coast Acquisitions.

  Moghavem previously served with Trion as Director of Acquisitions in Colorado and will now command the new position of Director of East Coast Acquisitions.

“This is a pivotal moment in our industry,” says Max Sharkansky, Managing Partner of Trion Properties.

 “Despite the climate of growing economic skepticism, we recognize the opportunity at hand to capitalize in the Southeast and continue to aggressively seek value-add assets in this environment.

 Max Sharkansky

 "Simultaneously, as a testament to Trion’s depth of experience and innovative team, we hold great value in the strong leaders within our firm who play a critical role as we continue to expand and achieve results on behalf of our investors, tenants, and the greater community.”

 Constructed in several phases between 2009 and 2016, Pooler Station comprises 22 two- to three-story wood-framed buildings containing 160 two- and three-bedroom apartment units averaging 1,067 square feet.

 Trion was able to acquire Pooler Station through an off-market transaction with a repeat private seller, with whom the firm had recently transacted, and secure a below-market purchase price of $38.45 million by leveraging extensive personal networks within the region, notes Sharkansky.

Pooler Station, a 160-unit multifamily community
 located at 100 Oglethorpe Drive in the
Pooler submarket of Savannah, GA

 

 "We were able to leverage this connection and close the deal off-market to everyone’s satisfaction. It was a win-win situation for both parties, and the property serves as a strategic addition to our Georgia portfolio.”

 Along with Pooler Station, Trion currently owns the 297-unit The Bluffs Portfolio in Savannah, which consists of Osprey on The Bluffs and Heron on the Bluffs, two multifamily properties located less than one mile apart in the Southside Savannah submarket; and the recently acquired Azure at Riverside, a 267-unit multifamily community in the Atlanta submarket of Austell, Georgia.

 

Alex McDermott

 Alex McDermott, in addition to the Capstone team, represented both Trion and the seller in the transaction.

Contacts: 

Hanna Kokuashvili / Elisabeth Manville  
The Smart Agency, Inc.
(949) 438-6262 
hkokuashvili@thesmartagency.com

 

Hospitality Ventures Management Group (HVMG) Names Sameer Nair Senior Vice President of Acquisitions and Development

 

 Sameer Nair

ATLANTA, GA,  Oct. 11, 2022—Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced that Sameer Nair has been named senior vice president of acquisitions and development.

“An industry expert with more than a decade of hospitality real estate experience, Sameer immediately brings a wealth of knowledge and industry relationships he’s acquired during his decorative career thus far," said Robert Cole, president & chief executive officer, HVMG.  

 Robert Cole

“Prior to joining HVMG, he was vice president of investments and capital markets for Delray Beach-based Kolter Hospitality where he oversaw more than $600 million in transactions. His presence immediately augments and broadens our already strong bench strength, and we look forward to Sameer playing an important role in helping HVMG and our owners and investors achieve their growth goals.” 

Over the course of his eleven-year career, Nair has sourced and closed more than $350 million across Hilton-, Hyatt-, IHG-, Marriott-franchised hotels, as well as negotiating and restructuring $1 billion of existing debt.  In his previous role as vice president of hotel investments for Banyan Investment Group, Nair led or assisted in more than $125 million of closed transaction volume. 

Brian Young

He also held analyst positions with such well-respected firms as Aztec Group, Inc., Starwood Property Trust and HotelAVE.  Nair founded Culture to Culture Pals, a non-profit organization that provides computers to underserved children in Jamaica.  Nair received his Bachelor of Science degree from Cornell University’s School of Hotel Administration. 

“Sameer has been pivotal in the growth of multiple, well-respected hospitality companies, and we fully expect him to have continued, similar successes here,” said Brian Young, executive vice president and CIO, HVMG. 

 “The breadth and depth of his industry relationships and knowledge is expansive, assets we plan to put to use immediately.”

  

.

 CONTACT:

Chris Daly

Daly Gray, Inc.

703-435-6293

chris@dalygray.com

 

 

Patti Fitzgerald of Illustrated Properties Named Chair of Florida Real Estate Commission

 

 Patti Fitzgerald

Jupiter, FL – Illustrated Properties applauds Jupiter-based real estate broker and manager Patti Fitzgerald on her appointment as the new Chair of the Florida Real Estate Commission (FREC).

 An accomplished broker with a long history of real estate involvement, Fitzgerald is set to continue her positive impact on the industry in this new role.

Daniel Dennis 

FREC was created to educate and regulate real estate licenses. The commission has seven members appointed by the Governor and confirmed by the Florida Senate. Members are appointed for four-year terms.

“We congratulate Patti Fitzgerald on her prestigious FREC appointment,” IPRE President Daniel Dennis said. “Her decades of service to our firm and the industry inspires all of us at IPRE.”

Fitzgerald has served as a FREC Commissioner since 2016, most recently as Vice-Chair.

“I am humbled to take on this important position with FREC and further advance the educational opportunities for Florida real estate brokers,” Fitzgerald said.

 “With so much incredible real estate activity occurring throughout our state, this is a pivotal time to ensure best practices are being taught and applied by industry professionals. I greatly appreciate the support of my IPRE family.”

Fitzgerald has been with IPRE since 2010, when she sold her own successful real estate firm.

At IPRE, she mentors, educates and supports the Jupiter team while serving the broader industry in many ways.

Henry Blakiston

Fitzgerald’s involvement has included the Executive Women of the Palm Beaches, Leadership Palm Beach County, Women of the Moose and active memberships with Miami Realtors, Florida Realtors and the National Association of Realtors.

A longtime Jupiter resident, Fitzgerald and her husband, Henry Blakiston, a principal at Proctor, Crook, Crowder and Fogal CPAs, enjoy precious time with their three children and seven grandchildren.

For more information about the FREC, please visit http://www.myfloridalicense.com/DBPR/real-estate-commission/.

.

 CONTACTS:

 

Eric Kalis and Daniel Benjamin,

 BoardroomPR

ekalis@boardroompr.com

dbenjamin@boardroompr.com

954-370-8999

 

JLL Capital Markets arranges $9 million financing on six industrial properties in Minneapolis, MN for Buligo Capital Partners

 

Britta Lund

 MINNEAPOLIS, MN – JLL Capital Markets has arranged $9.37 million in acquisition financing for six industrial buildings totaling 191,986 square feet in Minneapolis, Minnesota.

 

JLL worked on behalf of the borrower, Buligo Capital Partners, to secure the five-year, fixed-rate loan through Justin Adducci of North American Banking Company.

 

 Loan proceeds for future funding were also committed by the bank.

 

 Trent Niederberger

The buildings are fully occupied by a variety of tenants, including StreetFactory Media, Children’s Theatre, CenturyLink, Brownstone Distributing, Guthrie Theater and more.

 

Occupying a full city block, the properties are located at the intersection of East Hennepin Avenue and Harrison Street Northeast.

 

The buildings are a five-minute drive from downtown Minneapolis, 12 minutes from downtown St. Paul and 15 minutes from the Minneapolis-St. Paul International Airport.

 

 The portfolio is positioned to service 21,122 businesses and 477,365 residents within a five-mile radius. In addition, the properties are near Interstates 35W and 94, connecting them with the greater Minneapolis-St. Paul region.

Justin Adducci 

The JLL Capital Markets team representing the borrower was led by Managing Director Trent Niederberger and Director Britta Lund.

 

“Demand remains strong for infill industrial buildings with outdoor storage, and we were able to really lean into this great value-add asset to source an exemplary financing solution for Buligo’s first acquisition in the Twin Cities market,” said Lund.

 

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

           PENDING SALE: Six industrial buildings 

                  totaling 191,986 square feet 

                       in Minneapolis, MN

 

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:

Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com

 

JLL Capital Markets closes $9 million sale of a 180-unit multi-housing development site in Sarasota, FL

Rendering of planned180-unit apartment
development site at 3045 Broadway
 Avenue in Sarasota, FL

 

 TAMPA, FL – JLL Capital Markets has closed the $9 million sale of an off-market, shovel-ready, 180-unit apartment development site in Sarasota, Florida.

Noah Leon

JLL represented the seller, a joint venture between Defined Companies, co-founded and led by Noah Leon and Steven Guasch, and Nadeb Investment Group, led by President Eben Mensah. Arlington Properties, Inc. acquired the asset.

Steven Guasch

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Director Simon Banke and Managing Director Zach Nolan.

 Prior to the sale, Defined and Nadeb secured all entitlements, approvals and permits for the development of a five-story 180-unit apartment community.

The project will feature one- and two-bedroom floor plans, as well as an expansive amenity base that includes a double-volume resident clubhouse and leasing center, an indoor/outdoor fitness center with a dedicated yoga room, resort-style pool deck with an outdoor pavilion, an indoor/outdoor gaming area, resident coworking spaces and private offices, a dog park, a Zen courtyard with lush landscaping and a calming water feature and an intimate gazebo overlooking the pond and conservation area.

Simon Banke

Situated at 3045 Broadway Ave., the property allows residents convenient access to U.S. Route 301, University Parkway and I-75.

Additionally, the site is less than five miles from downtown Sarasota and less than three miles from Sarasota Bradenton International Airport.

“This project was very special to us as it aligned with our core values of being socially and environmentally conscious developers," according to a statement by Leon and Guasch of Defined. 

Zach Nolan

"Our team worked alongside the respective governmental agencies to identify and propose creative solutions to a multitude of unique site constraints, creating value on land once considered ‘undevelopable’ by others. 

Eben Mensah

"We were able to accomplish the preservation of wetlands and incorporation of attainable housing, while maintaining our high-quality design standards. 

"It is with great pleasure that we pass the torch to Arlington Properties, and we look forward to their success,”

 CONTACT:

Jenna Sharp

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

www.DefinedCos.com.

www.arlingtonproperties.net.

jll.com.

 

JLL Capital Markets arranges $32 million construction financing for the 143-unit The Rail at Bound Brook apartments located in an Opportunity Zone in Bound Brook, NJ

Rendering of The Rail at Bound Brook,
 a planned 143-unit, mid-rise apartment
 community in Bound Brook, NJ

 

 MORRISTOWN, NJ – JLL Capital Markets has arranged $32.45 million in construction financing for The Rail at Bound Brook, a to-be-constructed, 143-unit, mid-rise, transit-oriented, Class A apartment community located within an Opportunity Zone in Bound Brook, New Jersey.

 JLL represented the sponsorship, a joint-venture between Denholtz Properties and Redwood Real Estate Group, to secure a three-year, floating-rate loan through Citizens.

Michael Klein 

 The six-story The Rail at Bound Brook will feature studio, one- and two-bedroom floorplans with designer kitchens, large windows, walk-in closets, nine-foot ceilings, stainless steel appliances, in-unit full-size washers and dryers, balconies and large terraces in select units and an average size of 811 square feet.

Community amenities will include a large lobby, a resort-style furnished courtyard with lounge areas, an upscale 4,030-square-foot club suite, a game room, yoga studio, a co-working space and garage parking. Additionally, the property will offer 650 square feet of retail space and 149 parking spaces.

 Located at 100 Hamilton Street within Somerset County, the site is in downtown Bound Brook across the street from the Bound Brook Train Station, adjacent to the Brooks Art Center and proximate to numerous shops and restaurants.

Jon Mikula

 The community will offer exceptional access to Central and Northern New Jersey via nearby highways, including I-287, I-78 and Route 22.

Additionally, the site is approximately 34 miles west of New York City and is walkable to commuter rail service to Manhattan.

 The Rail at Bound Brook’s location is further enhanced with downtown’s designation as a Transit Village by the New Jersey Department of Transportation.

 The JLL Capital Markets team representing the seller was led by Senior Managing Directors Michael Klein and Jon Mikula and Vice President Michael Lachs.

 “Bound Brook has experienced a resurgence of new multi-housing development as demand continues to outweigh supply. The Rail at Bound Brook will provide best-in-class amenities and luxury,” said Mikula.

 

 Michael Lachs.

“JLL is pleased to have secured construction financing for the sponsorship.  

"This is a transformational project for the market, and we look forward to watching the development progress,” added Klein.

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

thorequities.com. 

www.denholtz.com.