DXD Capital to launch self-storage project in Miami’s Allapattah submarket

Martha Hargrove

 

 MIAMI, FL, Feb. 27, 2023 -- DXD Capital, a data-driven real estate and private equity firm based in Albuquerque, NM, will launch on March 1st its latest self-storage project in the Allapattah submarket of Miami, Florida.

 

The proposed self-storage facility will be a five-story, fully climate-controlled building with 865 units, with a total cost of $18.7 million, and is located in an area with strong rental growth. The location was selected using DXD’s unique, data-driven site selection process.

According to DXD, Allapattah is a prime market for self-storage, due to its high multifamily occupancy of 96.79%, with 4,913 multifamily units planned for delivery.

 

 Apartment dwellers are three times more likely to use self-storage, and their preferred self-storage units are typically within 3 miles – or roughly a 10-minute drive – away from their residence.

 

Allapattah’s median income is expected to rise by 2% annually until 2025, with higher income residents increasingly moving into new multifamily units around the area.

 

 It is also close to the proposed $1 billion mixed-use soccer complex project for soccer team Inter Miami, which is co-owned by David Beckham.

 David Beckham

The plans include a 25,000-seat soccer stadium, 750 room hotel, restaurants, retail, and a 50+ acre park. The proximity of the project is expected to increase economic opportunities in the area and the planned multifamily deliveries point to an accelerated gentrification in the Miami Allapattah sub-market.

 

The Allapattah project is part of DXD’s continued investment in self-storage development. Self-storage experienced strong rental rate growth through the pandemic and represents one of the fastest growing investment opportunities in the United States.

“DXD reverse-engineers that process,” says Martha Hargrove, DXD Capital Managing Director - Investor Relations.

 

“Real estate professionals have a rough understanding of land costs, construction costs, property taxes, and many different metrics. From there, we can determine what rental rates we must achieve to deliver our investors outsized returns.”

 

According to Hargrove, DXD’s specialization in self-storage gives it an edge over other developers in the space.

 

“We’ve assembled a team of experts to be the best investor in self-storage. Our 25-person team has developed over 200 facilities nationwide. They now select sites and build self storage facilities with DXD from the ground up across the US.”

 

Hargrove added that DXD’s investments have been performing well in today’s self-storage-friendly climate.

 

“One of our projects in Litchfield Park, Arizona, just outside of Phoenix, has outperformed our pro forma leasing expectations by more than 150%, despite opening in November, which is typically the slowest leasing month for self-storage.”

 

Contact:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

Legacy of Creativity and Innovation Foundation for Newly Branded Clayworks District in Golden, CO

 

The Coors Family’s 5-block downtown Golden property will be
transformed into a ultra-sustainable mixed-use new district

 Golden, CO. Feb. 27, 2023 – AC Development announced today the launch of Clayworks, the new brand for the planned mixed-use district in downtown Golden previously known as the CoorsTek 9^th Street Redevelopment.

Clayworks will be an extension of downtown Golden, welcoming the community back to this historic site for the first time in well over a century.

Dan Cohen

The Clayworks vision and plan were unanimously approved by the Golden City Council last year.

The deeply sustainable new district will be located on over 12 acres of land owned by the Coors family.

The site has been home to CoorsTek’s technical ceramics manufacturing and research facilities since 1910, but AC Development will soon transform this area into a dynamic five-block district with cutting edge office spaces, a boutique hotel, distinctive apartments, and outstanding food and beverage — all rooted in the beautiful context and lifestyle of Golden, Colorado.

Michael Coors

“We are excited to re-envision and transform this significant property, while ensuring it remains reflective of the Golden community and the Coors Family legacy,” said Dan Cohen, AC Development president.

“At a time when people are seeking connection and collaboration, Clayworks offers an exceptional place in a one-of-a-kind location, featuring unmatched amenities, striking architecture, beautiful outdoor spaces, cutting edge sustainability, and a unique collection of companies and people.”

Construction on the project’s first phase will start later this year.

Rendering CoorsTek, Colden, CO

Clayworks is a name inspired by the rich history of ceramics innovation and production on the site, which was purchased by the Coors Family in 1886 for use initially as a glass works to support their nearby growing brewery.

 In 1910, the property became home to a new porcelain company (later to become CoorsTek), which located here because of the area’s naturally occurring high quality clay deposits that produced first-rate ceramics.

“The name is deeply connected to our guiding principles of innovation and discovery, history and legacy, craft and quality,” continued Cohen.

 “And it represents the entrepreneurship, technological advancements, and global impact that have occurred and certainly will continue to originate on this site. At once illuminating the past while also shining a light on a very bright future.”

“Clayworks will give way to the next generation of innovation and creativity as the location of CoorsTek’s new global headquarters and as a space for leading edge companies and other groups who share our commitment to craft, sustainability, and community,” said Michael Coors, CoorsTek Co-CEO.

“It will be part of the next 100 years of our company’s history, while adding more compelling experiences to the already special quality of downtown Golden.”

 

 Contacts:

 Devan Crean

dcrean@novitascommunications.com

303-947-7724

 www.acdevelopment.com.

www.clayworksgolden.com.

 

JLL Capital Markets brokers $27 million sale and acquisition financing for the 168-unit Meadowland Apartments in Portland, OR

 

Carrie Kahn

 PORTLAND, OR – JLL Capital Markets has closed the $26.85 million sale and arranged acquisition financing for Meadowland Apartments, a 168-unit, garden-style apartment in Portland, Oregon, which will now be known as Township Eastside.

Township Eastside,
 formerly Meadowland Apartments,
 a 168-unit, garden-style property,
 in Portland, OR

JLL marketed the property on behalf of the seller, NBP Capital. Glencrest Group acquired the asset.

 

Additionally, JLL worked on behalf of the new owner to originate the 10-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.

Ira Virden

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Ira Virden, Managing Director Carrie Kahn and Director Frank Solorzano.

 

The JLL Capital Markets Debt Advisory team representing the borrower included Senior Managing Directors Charles Halladay and Peter Smyslowski, Director Jonah Aelyon and Analyst Elijah Lax.

Frank Solorzano

Built in 1991, Township Eastside features two-bedroom and two-bathroom units with an average size of 986 square feet plus in-unit laundry and a patio or balcony. 

 

 The majority have not been renovated.  Current amenities include a clubhouse, swimming pool, playground and detached garages.

 

“We are thrilled to add Township Eastside to our growing portfolio,” said Glencrest Group’s Managing Partner John Adair. “Glencrest will invest in this quality asset to improve resident experience and looks forward to helping the neighborhood thrive.”

Charles Halladay 

Situated at 17310 SE Naegeli Dr., Meadowland Apartments is set within the East Portland submarket of Gresham.

 

The property is 20 minutes from Downtown Portland and less than an hour from Mt. Hood, offering residents access to the region’s largest employers and most sought-after recreational destinations.

 

Gresham features 200 acres of parks, 840 acres of natural areas and eight miles of trails. Additionally, 4.4 million square feet of retail space is within a three-mile radius, including Gresham Station Shopping Center and Historic Downtown Gresham.

Peter Smyslowski

Residents also benefit from proximity to Interstate 84, Highway 26 and Interstate 205.

 

JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform.

 

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

 

JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

Jonah Aelyon

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

Loans made or arranged in California are pursuant to a California Financing Law license.

About NBP Capital

Founded in 2008, NBP Capital is a privately held commercial real estate fund, focusing on its vertically integrated commercial real estate investment platform along the West Coast. 

Elijah Lax.

NBP Capital is committed to four core businesses: investment management, development, construction and hospitality. 

As investment managers, NBP Capital delivers compelling risk-adjusted returns to its investors through long-term investment opportunities in growing, urban markets and their surrounding localities.  

Through its development and construction arm, NBP Capital positively contributes to the urban landscape, while controlling its development costs.

John Adair

 As hospitality providers, NBP Capital creates community and delivers place-making experiences. 

 

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, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

The Keyes Company Adds Ilonka Castillo to Coral Gables, FL Office

Ilonka Castillo 

 

MIAMI, FL – The Keyes Company, Florida’s largest independent brokerage, announces the addition of Ilonka Castillo to the company’s Coral Gables office. She specializes in distinctive, high-end properties as a leading advisor for both buyers and sellers.

 Prior to joining Keyes, Castillo was a top producing real estate advisor and Realtor with Compass Florida. She brings over 25 years of experience to the Keyes Coral Gables office, located at 2423 Le Jeune Road.

 

Castillo previously served as President of the Dominican Republic Real Estate Association and as President of the Dominican Republic Chapter for FIABCI (International Federation of Real Estate Professionals).

 

Additionally, she is active with Florida Realtors, Miami Association of Realtors and Coral Gables Chamber of Commerce, and as a speaker with the National Association of Realtors.

 

Carlos Villanueva

“Ilonka has unique capabilities and knowledge as a speaker, author and industry professional who will bring diverse new clients to our office,” Keyes Coral Gables District Sales Manager Carlos Villanueva said.

“Her expertise and connection to a portfolio of Latin American clientele is extremely valuable in serving the Miami market.”

With dedication to her clients, Castillo has amassed a portfolio totaling more than $200 million in sales over her career.

Castillo earned a degree in Economics from the Technological Institute of Santo Domingo and went on to earn a master’s degree in International Business and Finance from George Mason University. She is fluent in English, Spanish, French and Italian. 

 

 

CONTACTS:

 

Eric Kalis and Daniel Benjamin

 BoardroomPR

ekalis@boardroompr.com or

 dbenjamin@boardroompr.com

954-370-8999

 

Ware Malcomb Announces Erica Godun as new Director, Sustainability

Erica Godun

 

NEWARK, NJ – Ware Malcomb, an award-winning international design firm, announced Erica Godun has been named Director, Sustainability.

  In this newly created position, Godun will be responsible for developing and supporting the firm’s sustainability-focused service offerings and be a resource for clients and team members on the application of project-appropriate green integration.

She will create tools that enhance the firm’s internal training platform and delivery of environmentally responsible design solutions.

Godun brings more than 25 years of experience in various phases of architecture and design to Ware Malcomb.

 She is a LEED accredited professional and was one of firm’s first WELL accredited professionals. She joined the firm in 2015.

“We are excited about introducing this new position to our firm and the value that Erica brings to the role, as sustainable design is becoming more crucial to the built environment” said Matt Brady, Executive Vice President, Ware Malcomb.

 

Matt Brady

“Over the last seven years, she has demonstrated tremendous leadership and advanced several critical sustainability initiatives for the firm.”

Godun is a licensed architect in the states of New Jersey and New York.

 She received bachelor’s degrees in Architecture and Fine Arts from the Rhode Island School of Design. In addition to her LEED BD+C and WELL professional credentials, she completed the Fitwel Ambassador course.

 CONTACTS:

 Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

rachel@kcomm.com

 

Maria Rodgers,

 Director, PR & Communications

 949.660.9128

 mrodgers@waremalcomb.com

 

Maureen Bissonnette,

 Principal, Marketing, 

949.660.9128, 

mbissonnette@waremalcomb.com

 

waremalcomb.com

Fifield Companies Promotes Two Senior Leaders as Firm Expands Into New Markets

 

Lindsey Senn

CHICAGO, IL, Feb. 22, 2023 — Developer Fifield Companies today announced the promotion of Lindsey Senn to chief development officer, and Jim Clementi to senior vice president of construction, based on their contributions to the firm’s continued success and recent expansions to the greater Miami and Denver areas.

 

 Jim Clementi

“Lindsey and Jim have been invaluable to our growth at Fifield Companies, demonstrating exceptional leadership on several of our firm’s most high-profile projects,” said Steve Fifield, founder and CEO of Fifield Companies.

Steve Fifield

“Each has mastered the ability to integrate multiple aspects of development and construction, respectively, in turning our visions into realities. And they do it all while bringing out the best in our partners and internal teams.”

Erin Spears

Senn has led several highly complex Chicago development deals for the firm from the entitlement phase through to completion, including Logan Apartments, the 220-unit mid-rise, mixed-use building in Logan Square, and Westerly, the 188-unit, 11-story apartment building in River West, both of which opened and achieved stabilization during the pandemic.

 

 Logan Apartments, Chicago, IL

She was also instrumental in raising capital for the firm’s inaugural general partner fund. Named to Crain’s 40 Under 40 list and the recipient of several other industry honors, Senn has been a rising star in real estate since joining Fifield 10 years ago.

 Westerly apartments, Chicago, IL

During his 10-year tenure at Fifield, Clementi has overseen construction of some of Fifield’s most intricate buildings, such as Logan Apartments, a transit-oriented development (TOD) with a ground floor Target, and the 390-unit, mixed-use Gold Coast development, The Sinclair, which not only brought new rental units and an improved and expanded Jewel grocery store to the neighborhood, but also spurred the revamp of the nearby Clark and Division Red Line CTA station.

The Sinclair apartments, Chicago, IL

 Clementi is leading the construction of the firm’s first project in the greater Miami area, Avida Aventura, a 266-unit TOD near the new Aventura Brightline high-speed rail station.

 

“The last few years have been transformational for Fifield with the launch of our first general partner fund and our expansion into new markets, among other opportunities, in which Lindsay and Jim have played essential roles,” said Erin Spears, president of Fifield Companies.

Avida Aventura apartments, Miami, FL

“Their promotions are a reflection of the talent and passion they bring to the work we do, as well as the excitement they share for the future of our firm as we continue to grow.”

Arden Englewood apartments, Englewood, CO

In addition to topping off Avida Aventura in greater Miami, Fifield Companies is developing an eight-story, mixed-use residential building in Miami’s Wynwood neighborhood near the proposed Wynwood Brightline station, expected to begin construction later this year.

 

The firm also recently broke ground on the 302-unit Arden Englewood, a TOD in the Denver suburb of Englewood.

 

 

CONTACTS: 

 

 Traci Failla,

 tfailla@taylorjohnson.com

 (312) 267-4516

Kim Manning,

 kmanning@taylorjohnson.com

 (312) 267-4527

 www.fifieldco.com