29SC Acquires 193-Unit Dwell Apartment Homes near Old Town Scottsdale, Arizona

Dusty Eddy

 

 Scottsdale, AZ, Feb.  2023  –29th Street Capital (29SC), a privately held real estate investment firm, acquired Dwell Apartment Homes, a 193-unit property located in Scottsdale, Arizona. This asset marks the firm’s 20th multifamily acquisition in the Phoenix Metro.

 The transaction closed Feb. 14, 2023. The sale price and seller were not disclosed. Haven Residential, the 29SC-owned property management company, will oversee management and leasing.

 “The acquisition of Dwell reinforces 29SC’s strategy of acquiring high-quality assets, in desirable locations, where we can add value to residents through upgrades and improvements,” said Dusty Eddy, Senior Vice President of Acquisitions of the Southwest Region for 29SC.

 “Residents will be able to enjoy upgraded apartments with modern amenitieswhile taking advantage of Dwell’s proximity to Old Town Scottsdale with its many entertainment options, retailers, and major employment center.”

193-unit Dwell Apartment Homes, Scottsdale, AZ

Developed in 1963/1975, Dwell is a C+ asset positioned in a Class A location. The amenity-rich community offers residents a comfortable lifestyle, with 3 swimming pools, a fitness center, a business center, a dog park, and an outdoor grilling and picnic area. 29SC plans to renovate both interior units and exterior amenities.

 Plans include converting the garden to an outdoor game area and dog park, upgrading the gym and pool areas, and enhancing the interiors by renovating units.

  Updates to the interiors involve adding smart home tech packages and upgrading kitchen appliances, countertops, backsplashes, new cabinet faces and hardware, flooring and baseboards, bathroom mirror frames, ceiling fans, and lighting packages.

Rendering of Old Downtown Scottsdale, AZ

Dwell is located behind the northwest corner of McDowell and Scottsdale Road and offers unmatched reach to several of the Valley’s most prominent employment centers, including Downtown Scottsdale, Tempe Town Lake, ASU, Midtown & Downtown Phoenix, and the Camelback Corridor.

 The city of Scottsdale is committed to attracting and retaining high-profile corporate names, including General Dynamics, HonorHealth, Vitalant, Yelp, Indeed, Banner Health, and Opendoor.

 As these employers continue to attract well-educated residents, the city continues to be the most sought-after destination in the state for those looking to capture an all-inclusive, live, work, and play lifestyle.

 

Camelback Corridor, Phoenix, AZ

Formed in 2009, 29th Street Capital is a privately held real estate investment firm with 16 offices nationwide.

 Its current portfolio consists of more than 20,000 existing units and a development pipeline of over 3,800 units. In the last year, 29SC has acquired over 21 multifamily assets across the United States that contain over 6,200 units. The firm continues to actively pursue new opportunities.

 Contact:

  Julia Eich

Director of Marketing and Communications

+1.847.977.0876

julia.eich@havenresidential.com

  29SC.com

 

Forinvestmentinquiries, please contact:

 Robb Bollhoffer,

ManagingPrincipal

29thStreetCapital

 312-933-2668|

rbollhoffer@29thstreetcapital.com

HEI Hotels & Resorts Names Cindy Murphy Regional Vice President of Operations

 

Cindy Murphy 

Norwalk, CT, Feb. 14, 2023 – Officials of HEI Hotels & Resorts, a leading hospitality investment and management company, today announced that Cindy Murphy has been named regional vice president of operations. 

 “A hospitality expert with nearly thirty years of experience, Cindy is the ideal candidate to help HEI achieve its growth goals by providing invaluable support to our general managers in the field,” said Anthony Rutledge, managing partner and CEO, HEI Hotels & Resorts. 

 

Anthony Rutledge

 “She has worked at virtually all levels of the industry, from property level positions with Embassy Suites by Hilton to corporate roles with IHG and Sonesta.

 "This vast experience provides her with a unique perspective that will benefit our entire portfolio.  Throughout her career, Cindy has demonstrated an uncanny ability to find the best in her teams. 

 "Cindy brings something ‘extra’ to the table, and we look forward to her working her magic at HEI.”

 

Prior to joining HEI, Murphy was vice president of operations and head of the Sonesta Select brand for Sonesta Hotels where she was responsible for 224 company managed hotels that generated $750 million annually. 

  She also held similar roles with IHG as vice president of franchise performance support and Trust Hospitality, LLC, as vice president of operations and technical services. 

 Murphy worked at Marriott International as senior director brand management for Marriott’s Autograph Collection and played a key role in the growth and long-term viability of Marriott’s collection of unique independent luxury and upper upscale hotels. 

 

Additionally, Murphy held leadership roles with Choice Hotels and Hilton Hotel Corp.  She is an AHLEI Certified Hotel Administrator (CHA) and is certified in hotel real estate investments and asset management by Cornell University. 

  Murphy received her Bachelor of Science in business administration with a concentration in hospitality management from DeVry University and her Master of Business Administration from Emory University Goizueta Business School.

 

 CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

www.heihotels.com.

$106 million sale of multi-housing development closes in Nashville, TN

 

Matthew Lawton

NASHVILLE, TN – JLL Capital Markets  has closed the $106 million acquisition of and the $62 million financing for Abberly Riverwalk (formerly known as a Alta Riverwalk), a 304-unit, three-story, apartment community in Nashville, Tennessee.

 JLL represented the buyer, HHHunt, in this transaction, and secured the floating-rate, bridge loan financing on behalf of the new owner.

 

With an anticipated completion of July 2023, Abberly Riverwalk will feature studio, one- and two-bedroom offerings with an average size of 799 square feet.

 Brian Dawson 

 

Community amenities will include direct access to the Greenway Riverside Parkway, sundeck courtyard, outdoor firepit, co-working space, outdoor kitchen and grills, golf simulator, putting green, pet spa, 24/7 fitness club and more.

 

Abberly Riverwalk is positioned off of Highway-12 (15,000 VPD) and the highly trafficked I-65 (53,000 VPD), allowing residents easy connectivity to the rest of the submarket, as well as employment nodes like Downtown Nashville.

Nick Brown

In addition to premier connectivity, the property is positioned along the Cumberland River and also offers an entrance to The Greenway, a 200-mile interconnected trail throughout the metro area.

 

The JLL Capital Markets Investment Sales team that represented the buyer was led by Matthew Lawton, Brian Dawson and Nick Brown and the Debt Advisory team that arranged the financing was led by Travis Anderson and Warren Johnson.

 

“It has been a pleasure working with the entire HHHunt Team on this unique assignment 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 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 Northeast to strategically redeploy into strong, long-term growth markets in the Sunbelt. 

 

 There are 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.

 

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.

 

 

 

 

CONTACTS:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

www.hhhunt.com.   

Veritas Development Introduces Lively Hotel: a new hotel experience by Hilton™, coming to OAK, a vibrant mixed-use district rising in Oklahoma City

 

Sarah Pickard 

OKLAHOMA CITY, OK, Feb. 13, 2023 -- Ryan McNeill of Veritas Development announced Lively Hotel, a 132-key boutique hotel concept by Hilton™, will join the community at OAK, the mixed-use destination rising in Oklahoma City. Vertical construction on the site is underway.

 Ryan McNeill 

Designed as OAK’s “living room,” Lively Hotel is an original concept and part of the Tapestry Collection by Hilton™, a gathering of original upscale hotels.

As Oklahoma’s first Tapestry Collection hotel, Lively Hotel will feature 132 rooms; a 3,050-square-foot bar and restaurant; an elevated amenity deck with a 2,400-square-foot outdoor bar and activated pool area; a fitness center; and over 2,600 square feet of meeting space.

Rendering of OAK Lively Hotel, Oklahoma City, OK

Recently announced retailers for OAK include RH Design Gallery, Arhaus and Capital Grille – with more being announced this spring.

 The scissortail, the state bird of Oklahoma, is the leading design inspiration for the hotel.

Penn Collins

“Lively Hotel is a testament to our belief in a ‘new luxury’ that defines itself with ease and energy,” said Penn Collins, President and CEO for Gatehouse Capital.

 “Historically, Gatehouse’s most successful projects have been lifted by both brand affiliations and partnerships.

 Michael Nagy

"The firm’s work in concert with Hilton, Veritas, and OAK’s tenants promises to bring not only a new hotel product to Oklahoma City, but an entirely new experience to the region.

 

"Benefitting from the amenities provided by this placemaking development, Lively promises to offer both an elevated destination for visitors and a fabulous perch atop OAK for local guests as well.”

 

Chris Speciale

At the ground floor, the hotel will feature 13,500 square feet of retail space. Open Realty’s Michael Nagy and Chris Speciale are already in talks with several new-to-market brands for the retail space, with plans to announce concepts in the coming months.

 

Nelson Worldwide is the hotel architect; Sarah Pickard of Pickard Design Studio is the interior designer. Vincit Constructors, the general contractor, and Valor Bank, the lending partner, are both based in the Oklahoma City area.

Kenny Thomas

 "Valor is excited to be leading the financing for the project,” said Kenny Thomas, Chief Lending Officer. “Lively Hotel will be the first of its kind in Oklahoma and is just one part of the exciting redevelopment of this area of Oklahoma City.

 

"We are honored to be a part of this endeavor and look forward to watching the creative vision come to life over the next 24 months.”

 

The hotel news comes on the heels of several major retail announcements, including RH’s Design Gallery, a new concept encompassing three levels and featuring a Rooftop Restaurant and Garden, Wine Bar, in-house Interior Design Firm and more. Arhaus, a premium home furnishing brand known for its globally inspired, artisan-crafted furniture and decor, will open a 17,000-square-foot space to showcase its products and design services. 

Zac Craig

Upscale steakhouse Capital Grille will open its first location in Oklahoma in a 10,000-square-foot space. Additional retail announcements are planned for later this spring. 

“Within the past two years, Oklahoma City has seen an impressive tourism rebound,” said Zac Craig, President of Visit Oklahoma City. “In 2021, we welcomed 21.4 million visitors with an economic impact of $3.8 billion.

 

"We're excited for OAK to begin taking shape, and know that the mix of top-tier retailers, restaurants, and now, Lively Hotel, will be a significant draw for new visitors, further enhancing Oklahoma City's offerings as a destination.”

Everett Dobson

The OAK community also encompasses 320 multifamily homes, developed in partnership with luxury multifamily housing developer Mintwood Real Estate.

McNeill is joined by Everett Dobson and the Dobson family as partners in the multi-phase project.

 

To learn more, please visit oakokc.com and follow the project on Facebook, Twitter and Instagram.

 

CONTACTS:

 

Michael Nagy - michael.nagy@openra.com

Chris Speciale - chris.speciale@openra.com 

 

The Wilbert Group

Raechel Blitchington

Vice President

www.thewilbertgroup.com

912.432.0858

rblitchington@thewilbertgroup.com

 

www.oakokc.com and follow on Twitter, Facebook and Instagram.

www.mintwoodre.com.    

 

Banesco USA Hosts Grand Opening of its New Corporate Headquarters in East Doral, FL

 

Alina Mayo Azze

Miami, FL, Feb.13, 2023) — Banesco USA, an independent Florida state-chartered bank with $3 billion in assets and six locations between South Florida and Puerto Rico, celebrated the opening of its new corporate headquarters on Thursday, February 9, 2023.

 The complex is located at 3155 NW 77^th Avenue in East Doral.

Banesco USA new corporate HQ
3155 NW 77^th Avenue,
East Doral, FL

 More than 300 guests comprised of community leaders, clients from South Florida, Puerto Rico and multiple Latam countries, and Banesco USA’s Board and executive management members attended the commemoration.

 The program included remarks by Banesco USA Chairman of the Board Carlos Palomares and President & CEO Calixto (Cali) Garcia-Velez. Miami-Dade County District 6

Carlos Palomares 

 
Miami-Dade County District 6 Commissioner  Kevin Marino Cabrera presented Banesco USA with a proclamation congratulating the bank on their grand opening. Alina Mayo Azze, former news anchor on Univision Channel 23, served as the master of ceremonies.

 

Calixto (Cali) Garcia-Velez

“The grand opening event was the culmination of strategic priority that began in 2020 when the former industrial facility was purchased,” stated Garcia-Velez. “This investment reflects our long-term commitment to service business, professional, and commercial clients with a relationship-focused banking model.”

 Kevin Marino Cabrera

 The bank’s new headquarters is a three-story thoughtfully designed building with 60,000-square-feet of dedicated office spaces plus a full-service branch with state-of-the-art amenities.

The ultra-modern headquarters boast an interactive training room, café with in-house chef, an outdoor terrace, and numerous meeting rooms named after famous areas in South Florida and Puerto Rico, for over 300 employees.

 To encourage team collaboration and workflow efficiencies, employees have the freedom to work anywhere in the facility with upgraded technology.

  After all, the heart of Banesco USA is about bringing employees, clients, and the community together for the greater good of all. 

 For more information, visit 

 

CONTACTS:

 

Marianna La Riva

 Account Executive

JWI PR

MIAMI & NYC

Cell +1.954.471.0759

marianna@JWIpr.com

Facebook, Instagram and Twitter @JWIpr

 

Jessica Wade Pfeffer

 305-804-8424

 jessica@jwipr.com

 

Tyler Sminkey

 786-390-8510

 tyler@jwipr.com

 

 BanescoUSA.com.