Two multi-housing communities in the Atlanta-MSA trade for $257.54 million

 Amalia Londono

ATLANTA, GA, Oct. 27, 2022 – JLL Capital Markets announced today that it has closed the $162.54 million acquisition of and the $104.90 million dollar financing for Abberly Skye, as well as the $95.0 million acquisition of and the $61.40 million financing for Abberly Onyx.

fAbberly Skye, a five-story, 405 unit wrap-style
 apartment community located  at 2550 Blackmon Drive, within the Atlanta MSA in Decatur, GA

Both Abberly Skye and Abberly Onyx are five-story, wrap-style apartment communities located within the Atlanta MSA in Decatur, Georgia.

 JLL represented the buyer, HHHunt, in these transactions, and secured the floating-rate, bridge loan financing on behalf of the new owner. Northwood Ravin was the seller for both transactions.

Five-story, 250 unit Abberly Onyx apartments,
 located at 2532 N. Decatur Road, Decatur, GA

 The 405-unit Abberly Skye (formerly known as Scott Crossing) was developed in 2020, and the 250-unit Abberly Onyx (formerly known as Point on Scott) was developed in 2017.

Matthew Lawton

Both properties offer studio, one-, two- and three-bedroom options and feature state-of-the-art community amenities, including, fitness centers, pools, golf simulators, saunas, dog parks, lounge areas outdoor courtyards and more.

 

Abberly Skye is situated at 2550 Blackmon Dr., and Abberly Onxy is located at 2532 N. Decatur Rd. The properties are both set seven miles from Midtown Atlanta, nine miles from Buckhead and eight miles from downtown Atlanta.

 

The JLL Capital Markets Investment Sales team that represented the buyer was led by Matthew Lawton, Vic Ciancetta, John Weber, Bill Shippen, Amalia Londono and Nick Brown, and the Debt Advisory team that arranged the financing was led by Travis Anderson.

Vic Ciancetta 

“It has been a pleasure working with the entire HHHunt Team on these unique assignments to redeploy significant capital on a strategic basis, building on the already solid foundation that HHHunt has built over many decades,” said Lawton.

 

“The team truly offers a vertically integrated platform that is best-in-class.”

 

JLL was exclusively retained by HHHunt this year to represent them on an exclusive buy-side representation for a large capital placement of a 1031 transaction, where they sold a significant asset in the Southeast to strategically redeploy into strong, long-term growth markets in the Sunbelt.

 John Weber

There will be a total of five, Class A multi-housing assets acquired in Nashville, Atlanta and Charlotte. HHHunt intends to continue to acquire assets on a strategic basis going forward.

 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.

Bill Shippen

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 JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. 

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

Nick Brown

JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

CONTACT:

 Jenna Sharp

JLL

M +1 214 394 3356

JLL.com

 

Construction of world's tallest interactive water fountain completed at Klyde Warren Park in Dallas,TX

Nancy Best Fountain, Klyde Warren Park, Dallas, TX

 

DALLAS, TX (OCTOBER 10, 2022) – Outside the Lines (OTL), a design-build construction company that specializes in creating one-of-a-kind water features, fountains, rockwork and themed environments, in conjunction with the City of Dallas and Woodall Rodgers Park Foundation, has announced the completion of the Nancy Best Fountain, an interactive water fountain at Klyde Warren Park, located at 2012 Woodall Rodgers Freeway in Dallas, TX.

 J. Wickham Zimmerman

The one-of-a-kind show fountain, which was designed by Fluidity Design Consultants and built by OTL, is an extension of several existing interactive fountain experiences at Klyde Warren Park. According to J. Wickham Zimmerman, Chief Executive Officer for OTL, an iconic water feature had always been envisioned for the north end of the park.

“While the interactive deck and park have always extended to the north end of the park at Pearl Street, a phased approach was taken regarding the water features,” says Zimmerman. “The fountain is now complete and is the crowning gem of the project.”

Barry Caylor

Since its opening in 2012, Klyde Warren Park has been a popular destination for visitors. The completion of the tallest interactive water feature in the world will draw in both locals and tourists alike, ultimately increasing foot traffic and time spent at the park, adds Barry Caylor, Vice President of Business Development for OTL.

Typically shooting jets up to 55 feet in the air, the Nancy Best Fountain has the ability to shoot jets 95 feet into the air during occasions and special events.

 

             Nancy and Randy Best
(Photo courtesy The Dallas Morning News)

The fountain was named after longtime Klyde Warren Park board member and philanthropist, Nancy K. Best after she and her husband Randy donated $10 million to the interactive water fountain project.

According to Jim Garland, AIA NCARB, Hon ASLA, President of Fluidity Design Consultants, the high-powered air canons are encircled by custom-fabricated stainless steel sculptural “trees,” which will keep people away from the high-velocity water and provide a vertical art element to the park’s Pearl Street Entrance.

James A. (Jim) Garland

The fountain will be illuminated with over 250 programmable color-changing LED lights, creating a variety of sequences and effects.

"The success of Dallas’ Klyde Warren Park is celebrated in the design of its next-generation Nancy Best Fountain, which interprets an artistic fusion of nature and music,” says Garland.

 “All the fountain’s animated and color-illuminated jets are patterned after trees, leaves and flowers, which are woven into a composition in repose.”

In the heart of the fountain, three abstract, highly polished and sparkling tree sculptures establish the scene's monumental scale, superlative quality, and memorable iconography. And the design’s specially selected, cross-cultural musical score—over which the dynamic jet action plays—generously provides an all-inclusive invitation to enjoy the park’s new theatrical experiences, he adds.

John Cunningham

OTL coordinated very closely with the project designers, the park’s management team, and the general contractor, McCarthy Building Companies, Inc., to facilitate construction of the fountain as efficiently as possible, says John Cunningham, Vice President of Operations based in the Dallas office at OTL and project manager of the Nancy Best Fountain.

“The pipe routing required careful study to the limited space available and the importance of running the pipes in the right sequence to avoid additional cross-overs that could necessitate unnecessary elevation changes. Those could lead to the creation of air pockets and traps, which might compromise the system’s functionality,” says Cunningham.

While the project did not come without challenges, including constructing a large-scale fountain within an open park in the middle of a busy downtown area, elevated above a busy freeway and working on an extremely tight deadline to minimize any disruptions to the park’s visitors, all players involved within the construction of this project were able to collaborate and develop creative solutions to each obstacle.

Klyde Warren Park, Dallas, TX

“It has been a pleasure working with Outside the Lines in the construction of the unique Nancy Best Fountain. We have worked with OTL on several major commissions and know them to be experienced, energetic and fully committed to first-class results," says Garland.

Privately operated and managed by the Woodall Rodgers Park Foundation, Klyde Warren Park serves as a central gathering space for the city of Dallas and its visitors. The urban green space is a 5.2-acre deck park built over the recessed Woodall Rodgers Freeway in downtown Dallas.

 

 

Contact: 

KATIE HAGA Senior Account Manager The Smart Agency, Inc.   O 949 438 6262 Ext. 7 | C 714 209 2334 E khaga@thesmartagency.com   W thesmartagency.com HQ 220 Newport Center Drive, Suite 22, Newport Beach, CA 92660

www.otl-inc.com.

 

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