JLL Capital Markets hires Jacksonville multi-housing professionals Cliff Taylor and Joe Ayers

  

Melissa Quinn

JACKSONVILLE, FL –  JLL Capital Markets announced today that Managing Directors Cliff Taylor and Joe Ayers have joined the firm’s Jacksonville, FL office to lead its multi-housing investment sales advisory efforts across northern Florida and South Georgia.

 

Cliff Taylor 

 Bringing a combined industry experience of 40 years, the duo will be a part of the firm’s unified North-Central Florida Multi-Housing Investment Sales Advisory team.

Joe Ayers

Taylor and Ayers will work alongside their North-Central Florida counterparts in Orlando, Directors Ted Taylor and Kyle Butler, as well as Managing Director Zach Nolan and Director Drew Jennewein in Tampa.

Ted Taylor

They will report to Senior Managing Directors Melissa Quinn and Lee Weaver, who serve as the North-Central Florida leads for JLL Capital Markets.

 

Taylor and Ayers’ primary markets of focus will include the Jacksonville metro, Gainesville and Tallahassee, as well as the Florida Panhandle and Brunswick and Savannah, Georgia.

 

“We are thrilled to announce the addition of Joe, Cliff and their team to our North-Central Florida Multi-Housing group,” said Quinn. “Their extensive knowledge and experience within the region make them invaluable resources in rounding out our presence throughout North-Central Florida.”

 Kyle Butler

Prior to joining JLL, both Taylor and Ayers were Senior Vice Presidents within CBRE’s Jacksonville, FL office, serving as co-leads of the firm’s Jacksonville Multifamily Investment Properties group. 

Since joining CBRE in 2003, Taylor has represented REIT's, hedge funds, private equity firms, private syndicators, developers and individual investors throughout several southeast markets. 

Ayers joined CBRE’s Jacksonville multi-housing team in 2017 and has most recently focused on the execution of disposition strategies for institutional and private clients throughout North Florida, Florida’s Panhandle and southeast Georgia.

Ryan Hixon

“We are honored to be part of an organization of JLL’s caliber and to continue to execute the business needs of our clients.

 JLL is an incredibly collaborative organization with world-class professionals across both the debt and sales platform, and our ability to work alongside them all, for the betterment of our clients, is both exciting for and critical to our business,” said Taylor.

“Our main priority is serving our clients, and we are excited to join a platform like JLL that will enable us to do so at the highest level,” added Ayers.

 

Tucker Brooks 

Alongside Taylor and Ayers, Directors Ryan Hixon and Tucker Brooks have also moved to JLL Capital Markets’ Jacksonville multi-housing team from CBRE. Hixon will also focus on multi-housing investment sales advisory in northern Florida and South Georgia, while Brooks will continue his specialized concentration on land sales within the multi-housing sector throughout North-Central Florida.

“We are very excited to have Cliff, Joe and their team join us to further enhance our North-Central Florida Team and bolster our presence within the largest transaction volume market in the country,” said Executive Managing Director and Investment Sales Advisory Platform Leader Matthew Lawton.

 

Matthew Lawton

Additionally, Associate Mike Scott and Production Associate Elizbeth Pippin have also joined the JLL Capital Markets team in Jacksonville from CBRE.

 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.

Elizbeth Pippin

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 

 

CrossMarc Services Acquires Grocery-Anchored Shopping Center on U.S. 17 in Crescent City, FL

Flavia Kanyago

 

 

 CRESCENT CITY, FL -- CrossMarc Services, LLC of Winter Park purchased Crescent City Plaza, a 47,945 square foot grocery-anchored shopping center in the heart of Crescent City, Fla. 

Christie Alexander

The $2,700,000 sale included the eight-unit storefront shopping center on 7.57 acres at 915-925 N. Summit St. (U.S. Hwy. 17).  

 

Built in 1974 and remodeled in 2019, the center’s tenants include Save-A-Lot  and Family Dollar. The large parcel provides for future outparcel development.  

Jaidyn Smith

The seller, Jimmy and Leo Island Properties, was represented in the transaction by Jaidyn Smith, senior advisor for Legacy Real Estate Advisors.  

 

“We are thrilled with this opportunity and we are seeking more value-add centers like this one,” said Christie Alexander, senior vice president at CrossMarc Services  “Working with professionals like Jaidyn Smith makes deals like this happen seamlessly.” 

 

CrossMarc Services will handle leasing and management functions for the retail center.

“We have more than 11,400 square feet currently available and we look forward to adding some high credit tenants to the mix,” said Flavia Kanyago, CrossMarc Services’ vice president who will be leasing the center.

 

CrossMarc Services, based in Winter Park, Fla. at 1011 N Wymore Rd., is a real estate investment and advisory firm. Clientele ranges from private clients and corporations to large institutional companies. 

Legacy Real Estate Advisors headquartered in Southfield, Michigan, specializes in assisting buyers and sellers in the acquisition and disposition of commercial real estate properties. 

 

 Contacts: 

Flavia Kanyago, Vice President, CrossMarc Services LLC 

407-794-9393 or

 Fkanyago@crossmarcservices.com

 

Beth Payan, Managing Director, Larry Vershel Communications, Inc.

 407 461-3781

 beth@larryvershel.com

 www.crossmarcservices.com

www.Legacycrea.com

LA Downtown Medical Center Wins Multi-Million Dollar Tax Dispute with LA County Assessor

 

Vicki Rollins

 Los Angeles, CA, Nov 15, 2023 - A Los Angeles County hospital, committed to serving the city's homeless and disadvantaged communities, has emerged victorious in a significant multi-million dollar tax dispute with the LA County Assessor's office.

 

In 2019, LA Downtown Medical Center acquired the property at 1711 W. Temple Street in a court ordered bankruptcy sale for $36 million. 

However, the hospital's vision to expand its vital services for underserved communities faced a considerable setback when the Assessor's office appraised the property at an astonishing $114 million, potentially subjecting them to an annual tax increase of nearly $850,000.

 

Wes Nichols, the Founder & CEO of Paramount Property Tax Appeal, who represented the hospital in its appeal against the assessment, expressed the significance of this victory.

Wes Nichols

"LA Downtown Medical Center plays a crucial role in providing healthcare solutions to the city's underserved, including mental health patients and the homeless population in downtown Los Angeles," says Nichols. "An adverse judgment, imposing hundreds of thousands in added annual capital expenditures, affects their capacity to deliver essential services."

 

Vicki Rollins, President of The LA Downtown Medical Center, is grateful for this significant tax savings victory. Rollins said, “This outcome will allow us to allocate more resources where they are needed most, directly benefiting our patients and the city we serve."

 

The sale of the property was conducted on the open market as part of bankruptcy proceedings against its previous owner.

 

 Bankruptcy sales often result in discounted sale prices as the trustee’s primary aim is to recover money for debtors through an auction of property.

 

 In this case, the property was marketed to the healthcare industry and generated several offers among which LA Downtown Medical Center was the winning bid.

 

According to Nichols, the property tax assessment should have reflected the purchase price paid on the open market. However, the Assessor valued the property under foreclosure guidelines, where the trustee is selling to regain the debt owned on the property to the bank.

 

“By enrolling the property under foreclosure guidelines at more than three times what was paid for it, the Assessor made the investment unfeasible,” said Nichols.

"We were able to show that the open market transaction and a verified depreciation of the property reflected the true value.

 "Our approach to property tax valuation and preparation for the tax appeal hearing using reliable data, expert witnesses and comparable property sales allowed us to maximize the tax reduction for our client.”

 

The outcome was highly favorable for LA Downtown Medical Center, as their property received a new assessment value of $44.5 million, marking a significant reduction of $70 million. 

This achievement promises substantial tax savings, providing the hospital with valuable financial relief for as long as they own the property.

 

 

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.”

JLL Capital Markets brokers the sale of a two-building infill industrial portfolio in the Great Southwest (GSW) submarket of Dallas

Pauli Kerr

  

 DALLAS, TX –  JLL Capital Markets has arranged the sale of a two-asset, industrial portfolio totaling 144,500 square feet in the GSW submarket of Dallas. The price was not disclosed.

 

JLL represented the seller, Oxford Properties, and procured the buyer, Berkeley Partners.

Brooke Petzold

The portfolio consists of two, fully leased buildings. Key features include clear heights ranging from 17 to 29 feet, front- and rear-load configurations, 29 dock doors and 153 car parking spaces.

Trent Agnew,

The DFW Infill Portfolio properties are located at 1375 Avenue S. and 1169-1171 113^th St. in Grand Prairie, Texas. 

The properties benefit from proximity to I-30, SH 161, and SH 360 and direct major regional trade corridors and local distribution hubs.

The JLL Capital Markets Investment Sales team was led by Senior Managing Director Trent Agnew, Director
Pauli Kerr, Senior Director Charlie Strauss, Director Lance Young and Analyst Brooke Petzold.

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

Charlie Strauss

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, please visit JLL’s newsroom.

 

About Oxford Properties

 

Oxford Properties Group (“Oxford”) is a leading global real estate investor, developer and manager.

Lance Young

Established in 1960, Oxford and its portfolio companies manage approximately C$85 billion of assets across four continents on behalf of their investment partners.

 

 Oxford’s owned portfolio encompasses logistics, office, retail, multifamily residential, life sciences, credit and hotels in global gateway cities and high-growth hubs. A thematic investor with a committed source of capital,

 

Oxford invests in properties, portfolios, development sites, debt, securities and real estate businesses across the risk-reward spectrum.

 

Together with its portfolio companies, Oxford is one of the world’s most active developers with over 70 projects currently underway globally across all major asset classes.

 

Oxford is owned by OMERS, the Canadian defined benefit pension plan for Ontario's municipal employees.

 

 

Contact: 

 

Alli Semans,

Public Relations, Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

  jll.com.

iBorrow provides $12.7 million to finance sales-leaseback of former Stellantis industrial facility in Toledo, OH

Brian Good

 

 Toledo, OH– iBorrow, a nationwide private direct lender for commercial real estate, announced the closing of a $12.7 million loan to finance the sale-leaseback of a 208,968 square foot warehousing and distribution facility in Toledo, OH.

The facility was previously owned by a subsidiary of Stellantis, the multinational manufacturer of leading automotive brands including Jeep, Chrysler and Dodge.

 To facilitate the transaction, iBorrow customized the financing package to accommodate potential re-leasing activities, including a future funding component for light capex and other costs, and incorporated the ability for the borrower to refinance with long-term debt in the future.

Stellantis manufacturing facility

“The pullback of regional and community banks from lending in the commercial real estate space has continued to accelerate in recent months, making it difficult for even strong borrowers to obtain financing for critical transactions,” says Brian Good, CEO of iBorrow.

 “In this transaction, which involved unique structuring considerations to facilitate the sale-leaseback of the facility, the borrower knew they needed a creative partner with experience in developing flexible funding options. With our depth of expertise and rapid underwriting process, we were able to provide them with a customized financing package that met their needs on an expedited timeline.”

The industrial facility supports warehousing and logistics operations for a 3 million square foot Stellantis manufacturing facility, which is also located in Toledo.

 It features 34-foot clear heights, 102 truck doors, and roughly 292 parking spaces. The single-tenant facility is 100% leased and located in a very strong industrial submarket with a ~ 4.1% vacancy rate and positive net absorption.

The borrower is an experienced owner and operator of industrial real estate properties nationwide, and has a longstanding relationship as a repeat client of iBorrow.

“As this announcement demonstrates, private direct lenders like iBorrow are playing an increasingly central role in facilitating complex transactions that are critical for both borrowers and large manufacturers across the country,” concludes Mr. Good.

“iBorrow will continue to seek out opportunities to proactively deploy our capital to help borrowers and investors successfully execute their business plans while fueling our own continued growth and profitability.”

 Contact:

Chris Clemens

The Smart Agency, Inc.

(949) 520-6714

cclemens@thesmartagency.com

BCLP’s Tax Practice gets boost with new partner Bryan Cave

 

David Holmberg 

Janessa Griffin

New York, NY, Nov.13, 2023 – International law firm Bryan Cave Leighton Paisner (BCLP) announced today that Partner David Holmberg has joined the firm in the New York office. David joins the global Tax Practice.

David’s tax practice focuses on private equity real estate, direct lending and distressed strategies with respect to same.

David advises clients on tax aspects of complex commercial real estate transactions including joint ventures, mergers and acquisitions, debt workouts and restructurings, and has significant experience with public and private REITs and cross-border engagements.

 Elizabeth Bradley

“David adds depth and breadth to our global real estate tax team, joining Janessa Griffin and Frank Crisafi. We are excited to welcome David to the team and share his background and experience with our colleagues and clients,” said Elizabeth Bradley, partner and leader of the Global Tax Practice.

David joins from Akin Gump.

About Bryan Cave Leighton Paisner

With over 1,275 lawyers in 31 offices across North America, Europe, the Middle East and Asia, Bryan Cave Leighton Paisner LLP is a fully integrated global law firm that provides clients with connected legal advice, wherever and whenever they need it.

Frank Crisafi

The firm is known for its relationship-driven, collaborative culture, diverse legal experience and industry-shaping innovation and offers clients one of the most active M&A, real estate, financial services, litigation and corporate risk practices in the world.

 

 

CONTACTS:

John Garger

 516-405-3113 

jgarger@rippmedia.com 

 

Brian Kiefer

 312-602-5121 

brian.kiefer@bclplaw.com

 

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