Tuesday, October 10, 2023

JLL Capital Markets advised on the purchase of 245 Alvord Park Road., the fourth acquisition in Sendero Capital and Angelo Gordon’s programmatic joint venture

  

 

 

Mindy Berman

BOSTON, MA,  Oct. 10, 2023 –  JLL Capital Markets announced today that it advised Sendero Capital and Angelo Gordon on the acquisition of 245 Alvord Park Rd. in Torrington, Connecticut, which includes a 37,854-square-foot ambulatory surgical center and outpatient medical building.

 

The price was not disclosed.

 

The JLL Capital Markets team was led by Managing Director Brannan Knott, Senior Managing Director Mindy Berman, Director Anthony Sardo and Associate Landon Weaver.


Brannan Knott

The transaction represents the fourth acquisition in Sendero Capital and Angelo Gordon’s programmatic joint venture, which allows for up to $300 million in investments in outpatient healthcare real estate.

 

The joint venture is focused on value-add and core plus outpatient medical office and surgery center assets throughout the Northeastern United States – a region with high barriers to entry, strong growth, and one of the largest concentrations of healthcare businesses in the U.S.

 


Anthony Sardo


The property is fully leased to complimentary tenancy, with Litchfield Hills Orthopedic as a long-term tenant – with approximately 56% of the building, which includes the Litchfield Hills Surgery Center – as well as endoscopy and physical therapy tenants. 

 

Hartford HealthCare recently acquired a majority stake in the Litchfield Hills Surgery Center business and plans to make a $2.75 million capital investment to fund renovations, equipment, and technology upgrades.

Landon Weaver

 Hartford HealthCare’s growth in Litchfield County has continued since its affiliation with Charlotte Hungerford Hospital in 2017.

 

245 Alvord Park Rd. is located just off Route 8 in Torrington, which has a population of 35,563 residents according to 2022 Census data and is situated in northwestern Connecticut – 42 miles north of New Haven and 29 miles west of Hartford.

  

 

CONTACT:

 

Alli Semans

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

 

Tricera Capital & Merrimac Ventures Complete 7,200 SF of New Leases at Soleste Seaside in Dania Beach, FL

 

Soleste Seaside development, Dania Beach, FL


MIAMI, FL –– Tricera Capital, the Miami-based commercial real estate owner and developer led by Ben Mandell, and Merrimac Ventures secured two tenants at the new Soleste Seaside development in Dania Beach.

Ben Mandell

Memorial Healthcare System leased 4,700 square feet on the project’s ground floor, while Antonio’s Pizza signed a lease for 2,500 square feet. 

“We enthusiastically welcome Memorial Healthcare System and Antonio’s Pizza to Soleste Seaside,” said Tricera President and Head of Leasing Dustin Ballard.


Dustin Ballard.

“Memorial has been a fixture in the South Florida community for seven decades and continues to find creative ways to expand its patient services. Antonio’s has a passionate local following and further strengthens this project.” 

 

“Memorial is expanding the primary care services we offer Dania Beach residents, and we’ll do that with a new and easily accessible, patient-centered medical home,” said Memorial’s Chief Community Officer Melida Akiti. “It will feature space for additional exam rooms and clinicians and include a multi-specialty hub for in-demand services like cardiology and endocrinology. 


 

Melida Akiti

 

"This will enable us to better meet the needs of the population and have everything under one roof that individuals need to proactively maintain their health and receive care.”   


Kaley Tuning 

Antonio’s Pizza entered the South Florida market in 1978 and is known for its high-quality Italian food and family atmosphere. The Soleste Seaside location joins Antonio’s existing restaurants in Fort Lauderdale and Hollywood. 



Elizabeth Metott 


 

Donald VanBeach, Kaley Tuning and Elizabeth Metott of Native Realty represented Tricera in the lease with Antonio’s. 

 

Merrimac Ventures is developing Soleste Seaside in partnership with The Estate Companies. Tricera and Merrimac are forward-purchasing over 13,700 square feet of ground-floor retail and restaurant space.

 

Donald VanBeach

Native Realty is representing Tricera in leasing the remaining retail and restaurant space at Soleste Seaside.  

 

The mixed-use development also includes 340 upscale rental units. Tricera is scheduled to close on the acquisition and take possession of Soleste Seaside’s ground-floor space in the first quarter of 2024. 

 

  

CONTACT:

 

Daniel Benjamin

Senior Account Executive,

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 

www.triceracap.com.   

 

Sunday, October 8, 2023

Kruse GWS Auctions makes history with ground-breaking auction business in Dubai; first international base in over 100 Years

Brigitte Kruse

 United Arab Emirates, Dubai –– Kruse GWS Auctions, a world-record-breaking auction house and leading innovator in the industry has announced the launch of Kruse GWS Auctions in Dubai, UAE.

 After 5 years of careful planning and development, Kruse GWS Auctions will bring the company’s exceptional service to the vibrant, ever-evolving market of Dubai beginning with the first luxury goods and entertainment memorabilia auction in the fourth of 2023.


Kruse GWS Auctions will also be the first auction house to auction positions to purchase real estate at auction due to the overwhelming demand for properties in Dubai.

This is also the first time the generational auction house has opened in a foreign country in over 100 years.

“We are excited to bring Kruse GWS Auctions to Dubai. Our commitment to excellence and investment in new technologies is part of the reason we chose Dubai to further our global expansion including establishing relationships with builders such as Emar & Damac Properties," said Brigitte Kruse, Founder & Lead Auctioneer, Kruse GWS Auctions.

 

Dubai skyline

 "We truly look forward to becoming a valuable asset to all of the great developers in the region and continuing to serve Royal Families in the region as well.

"We take great pride in catering to consumers wherever they may be and our launch in Dubai will only further our commitment to the UAE community. We are looking forward to serving the UAE.”

Contact:

Caroline Galloway

440-591-3807

caroline@m2mpr.com

 

 

 

 

Loyola Medicine Burr Ridge outpatient medical center trades for $60 million in suburban Chicago

  

Mindy Berman

 BOSTON, MA –  JLL Capital Markets has arranged the $59.95 million sale of Loyola Medicine Burr Ridge, an outpatient health center totaling 104,912 square feet in Burr Ridge, Illinois.

 

Sam DiFrancesca
JLL represented the seller, Healthcare Realty Trust, and procured the buyer, Sila Realty Trust.


The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Director Mindy Berman, Senior Directors Sam DiFrancesca and Pat Shields and Analyst Matt Sykes.

“Real estate investors have keen interest in outpatient medical properties with major healthcare providers that offer advanced specialty care to patients close to their homes,” says Berman. “Loyola’s sizeable investment in infrastructure at this location means its tenancy should continue for a long time.”

Pat Shields
The three-story property was built in 2010 and is fully leased and occupied by Loyola University Medical Center. The Chicago academic medical center is an affiliate of the large national health system, Trinity Health, and is one of the most prominent and highly awarded health systems in Illinois.

Loyola Burr Ridge is Loyola’s largest ambulatory care location and is home to the most advanced specialties and services in orthopedics, cancer care, neurology, cardiology, dermatology and more with academic faculty physicians.

Burr Ridge is an affluent village situated just 20 miles southwest of downtown Chicago. The facility is highly visible and accessible at an interchange of Interstate 55 which provides easy access to downtown Chicago.

Matt Sykes
The property benefits from proximity to Loyola Medicine’s two largest hospitals including the flagship 547-bed Loyola University Medical Center and the 374-bed MacNeal hospital, both approximately eight miles from Burr Ridge.

For more news, videos and research resources, please visit JLL’s newsroom.

 

 Contact:

 

Alli Semans

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

Saturday, October 7, 2023

Seyfarth Shaw Launches New Servicing/Special Servicing Practice Group

 

 Katie Schwarting

Charlotte, NC - Seyfarth Shaw LLP has launched a new Servicing/Special Servicing practice group. The new practice will be chaired by Katie Schwarting, who recently joined the international law firm and is based in the firm’s Charlotte, NC office.

Seyfarth’s Servicing & Special Servicing team is positioned to help clients adeptly navigate intricacies within today's dynamic and constantly evolving real estate and financial markets, while steadfastly safeguarding their interests. It starts with 16 lawyers.

 Paul Mattingly

“The addition of this significant practice group with a highly-accomplished team of lawyers led by Katie Schwarting positions Seyfarth to lead the market in loan servicing and special servicing,” said Paul Mattingly, partner and national chair of Seyfarth’s Real Estate department.

Schwarting, as the group chair, focuses primarily on CMBS and Freddie Mac securitizations, regulatory issues impacting securitization, asset management, and workout and foreclosure strategies and the sale of servicing rights.

 CONTACT:

 

John Garger

516-405-3113

 jgarger@rippmedia.com

 

JLL Capital Markets welcomes Samantha Kupersmith as a Senior Director to its multi-housing team in the firm’s Philadelphia office

 

Samantha Kupersmith

 PHILADELPHIA, PA –  JLL Capital Markets announced Samantha Kupersmith has joined the firm’s multi-housing team as a Senior Director in the Philadelphia office.

 

Kupersmith will focus on multi-housing investment sales throughout the Philadelphia MSA and will work alongside Carl Fiebig, Fran Coyne and Tyler Margraf.


Fran Coyne

“Samantha joins us with a very impressive track record that she has built in a short period of time, and we are thrilled to welcome her to our team,” said Coyne.

 

“We are excited to add Samantha to the JLL family,” added Fiebig. “Samantha brings an aspirational personality and tireless work ethic that connects with a vast array of clients.”

 

Prior to assuming her new role, Kupersmith spent almost five years with CBRE on the firm’s multi-housing capital markets team.

 

She focused on the sales of boutique new construction apartment buildings and development opportunities in Philadelphia County. Throughout her time with CBRE, she executed over $300 million in transactions.

Tyler Margraf

In 2021, Kupersmith received the Philadelphia Business Journal’s Rising Star Award. In addition, she earned her degree from Lehigh University.

 

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.

Carl Fiebig
For more news, videos and research resources, please visit JLL’s newsroom.

 Contact:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

JLL Capital Markets secured $33.5 million financing for the 10-industrial property portfolio for Wharton Industrial in the Philadelphia, PA metro area.

Michael Klein
 MORRISTOWN, NJ –  JLL Capital Markets has arranged $33.5 million in financing for a portfolio of 10 industrial properties totalling 443,488 square feet

 JLL represented the borrower, Wharton Industrial, to secure the 5-year, fixed-rate loan from Securian Asset Management on behalf of the lender, Minnesota Life Insurance Company.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Michael Klein, Steven Klein and Ryan Ade and Associate Ryan Carroll.

The properties within the portfolio are situated across several of the premier industrial submarkets within the Philadelphia MSA, including Southern New Jersey, Suburban Philadelphia and the Lehigh Valley industrial submarkets.

Steven Klein 
The 10 properties feature clear heights ranging from 16 to 22 feet, a total of 82 dock-high doors, 15 drive-in doors and 768 parking spaces (1.73 / 1,000).

The properties are fully occupied to an expansive and diverse tenant mix of local and national tenants, including Boeing and Fiserv.

The Philadelphia Metro Industrial Market is one of the strongest industrial markets in the country. The respective submarkets each boast equally strong market fundamentals including climbing NNN direct rents and low vacancy rates all of which are consistently less than 5.00%.

Ryan Carroll

 CONTACT:

 

Alli Semans

PR, Hotels & Hospitality,

 Capital Markets

JLL
M +1 330 329 6750