JLL Capital Markets secures the $10.68 milion refinancing of the 127-unit The Valencia Apartments in Phoenix, AZ

 

Elle Miraglia

 PHOENIX, AZ – JLL Capital Markets has arranged a $10.68 million loan for the refinance of The Valencia Apartments, a 127-unit, two-story, garden-style multi-housing community located in Phoenix, Arizona.

 

Brad Miner

JLL worked on behalf of the borrower, CALCAP Advisors, to secure the fixed-rate, five-year Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

 

Originally built in 1983, The Valencia Apartments recently underwent value-add renovations, enhancing unit fixtures, hardware, exteriors and common areas.

Units feature breakfast bars, patios, full-size washer and dryer connections, walk-in closets and upgraded vinyl wood flooring, and community amenities include two pools, a sundeck and covered parking.

 

Situated at 3450 West Missouri Ave., the property is located two miles West of Interstate 17 and is within walking distance of Grand Canyon University (GCU).

 

Frank Choumas

Additionally, Bethany Square Shopping Center, Bethany Towne Center and Palm Glen Shopping Center are all within a five-minute drive.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Brad Miner, Associate Elle Miraglia and Analyst Frank Choumas.

 

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

 

Contact:

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com 

 

JLL Capital Markets arranges GP equity placement for FRP’s growing pipeline of student housing developments

 

Teddy Leatherman

 

 DALLAS, TX – JLL Capital Markets has arranged a commitment in programmatic co-GP equity for Fountain Residential Partners’ (“FRP”) growing pipeline of planned and future student housing developments.

 Jeremy Sain

JLL represented FRP and secured the equity commitment from FrontRange Co-GP Property Fund, an affiliate of FrontRange Capital. FrontRange Capital is a real estate private equity firm that focuses on strategic partnerships with leading middle-market real estate companies.

 

The JLL Capital Markets team that represented FRP was led by Senior Managing Director Jeremy Sain, Managing Director Teddy Leatherman, Associate Ryan Pollack and Analyst Danielle Rice.

Danielle Rice

Dallas-based Fountain Residential Partners specializes in the development of purpose-built student housing located across national markets, and since 2010, FRP has developed nearly 7,400 beds with a total valuation of over $1 billion.

 

FRP has a current development pipeline planned for seven projects, totaling more than 3,200 beds, near premier university campuses in strategic growth markets across the United States. The deliveries of these Class A student housing communities are projected to deliver in the 2026 timeframe.

Ryan Pollack

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 

 

Veteran real estate executive Anthony Marten re-joins JLL to lead healthcare sales

 

 Anthony Marten 

 CHICAGO, IL – JLL has hired Anthony Marten as a Principal and Healthcare Division Sales Lead for its Solutions Development team.

 

 In this new role, he is responsible for developing sales strategies, strengthening relationships with clients’ executive teams and leading solutions opportunities.

Alison Flynn Gaffney

Marten’s impressive career in project management, lease administration, integrated facilities management, transaction management and strategic planning spans 25 years and two continents.

 

He began his commercial real estate career with JLL in 1998 and served in various roles until 2007, gaining experience in sectors, including healthcare, life sciences, financial services and manufacturing.

Jessica Pernicone

Marten re-joins JLL from Cushman & Wakefield, where he was an executive vice president with their Enterprise Solutions team.

 

Through their expertise and deep understanding of the healthcare industry, JLL's Healthcare Solutions Development team, which is part of JLL’s Work Dynamics division, helps organizations transform their real estate and facilities management practices to support their strategic objectives. 

Marten will work in partnership with Alison Flynn Gaffney, FACHE, President, Healthcare Division, Work Dynamics, JLL, to grow JLL’s Healthcare division. Based in Chicago, he reports to Jessica Pernicone, Head of Americas Sales, Work Dynamics, JLL.

 

Contact:

Kimberly Steele

PR, Occupier

JLL

T +1 713 852 3420

M +1 832 244 9994

 

JLL Capital Markets closes sale of the 125,826-square-foot, multi-anchored Aurora Commons in Aurora, IL

  

Caity Tirakian

CHICAGO, IL – JLL Capital Markets has closed the sale of Aurora Commons, a 125,826-square-foot, open-air retail center located within the Chicago MSA in Aurora, Illinois. The price was not disclosed.

 

JLL represented the seller, IRC Retail Centers, and Sperry Equities acquired the asset.

 

The JLL Capital Markets Investment Sales and Advisory team was led by Michael Nieder, Keely Polczynski and Caity Tirakian.

Keely Polczynski

Built in 1988, the 75-percent-occupied center is anchored by Ross Dress for Less and DD’s Discounts. Additional tenants include Five Below, Dollar Tree, T-Mobile, H&R Block, and more.

 

The property also benefits from its high-performing shadow anchor, Cermak Fresh Market, which serves as one of two grocers within a three-mile radius.

 

Situated at 1272 N. Lake St., Aurora Commons is located at the intersection of Illinois Route 31 (Lake Street) and Indian Trail Road. The center is just 40 miles west of downtown Chicago and 12 miles west of downtown Naperville.

Michael Nieder

The property benefits from nearby retail centers, including Chicago Premium Outlets, Lake Plaza, and North Aurora Towne Center, as well as numerous healthcare centers, such as Ascension Mercy Hospital, Rush Copley Medical Center and Advocate Health Care.

 

Within a three-mile radius is a population of 108,848, an average household income of $87,717 and an overall buying power of $3.4 billion.

 

 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

 jll.com

iBorrow provides $47 million in refinancing for a 2.16 million SF multi-state industrial portfolio

 

Brian Good

Los Angeles, CA – iBorrow, a nationwide private direct lender for commercial real estate, has closed a $46.58 million refinancing of a 2,166,600 square-foot, six-property industrial portfolio owned by an institutional fund with more than $1.5 billion in commercial real estate assets.

The properties in the collateral pool are located across New York, South Carolina, Alabama and California, and collectively feature an occupancy of 91.2%. The properties currently feature a diverse mix of fifteen tenants with a favorable rollover schedule.

Approximately 9.51% of the properties’ NRA (or 206,000 square feet) is leased to five credit tenants. The six properties also have a weighted average lease term of 5.18 years.

“Conditions in the commercial real estate market have changed dramatically in the past 18 months, as a result of which private direct lending is an increasingly important option for borrowers facing loan maturities,” says Brian Good, Managing Partner of iBorrow, who also notes that $2 trillion of CRE debt is expected to mature in the next two years.

Riley Manke

“The borrower on this transaction is sophisticated, has a strong track record and needed a relatively quick and flexible funding solution”, explained Good.

“One unique aspect of this transaction is a structure that includes release provisions, enabling the sponsor to comfortably exit each property, while supporting a successful full-cycle execution of the portfolio business plan.

"This environment, while challenging, gives borrowers and investors the opportunity to be selective. This loan is attractive to us and we believe this borrower has the capability to successfully execute on their business plan.”

The transaction was completed in conjunction with leading national CRE finance and advisory service firm Walker & Dunlop’s Riley Manke and Andrew Westling.

Andrew Westling

“As we approach the end of 2023, it’s increasingly clear that adverse conditions will likely persist in the CRE space for the next 12 months or so,” concludes Good.

“While this means that regional banks and other traditional financial institutions will continue to hang back, iBorrow is fully committed to providing borrowers, investors and entrepreneurs with the flexible, innovative funding solutions they will need in 2024 and beyond.”

Contact:

Chris Clemens

The Smart Agency, Inc.

(949) 520-6714
cclemens@thesmartagency.com

Graycor Hires Brianna Nessler as Business Development Lead, Southwest Division, Phoenix, AZ

  

Brianna Nessler 

PHOENIX, AZ – Leading general contractor Graycor Construction Company has hired Brianna Nessler to lead its business development efforts in the Southwest. Based out of the company’s Phoenix office, 

 Tim Hanifin

“Brianna is extremely knowledgeable about the Southwest commercial real estate landscape, is a skilled strategist and a highly respected member of our industry,” said Martin.

 “She is an excellent choice to represent Graycor among our clients and prospects, and has already become a valuable contributor as we evolve new opportunities not only for Graycor but also for the regional business community and economy.”

Nessler plays a critical role in Graycor’s growth strategy, with a focus on key growth sectors including the advanced manufacturing, retail and medical spaces.

As Business Development Manager, Nessler is particularly responsible for identifying new client opportunities and expanding existing relationships.

Rusty Martin
 

As part of the company’s executive leadership team, she will work in tandem with Graycor Construction Company President Tim Hanifin, Southwest Division General Manager Rusty Martin and Project Executive Brian Bea to apply Graycor’s national scope of expertise to the needs of the region.

Nessler’s experience includes executive leadership, director and manager positions in marketing, strategy and client services.

Brian Bea

Across her career she has been recognized as a Phoenix Business Journal Landmark Leaders Emerging Leader of the Year, ENR Southwest Top Young Professional and AZ Big Media Young Commercial Real Estate Leaders to Watch.

She holds a bachelor’s degree in Psychology from the University of Louisville and is an active leader and a mentor, with memberships in AZCREW, ACE Mentorship Program, NAIOP, Phoenix Community Alliance, Pinal Partnership and Urban Land Institute.

Contact:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

 

Central Florida Builder Supplier Blackton Celebrates Grand Opening of New 17,000 Square Foot Facility for Leesburg, FL Expansion

 Michael (Micky) Blackton

LEESBURG, FL and ORLANDO, FL – Blackton, Inc., a family-owned homebuilding materials supplier recently celebrated the grand opening of a  new 17,000 square foot building in the industrial park at the Corner of CR 468 and Main Street in Leesburg.

Clay Weaver

The Orlando-based supplier first opened operations in Leesburg in 2020 with a 15,000 square foot building in the heart of the city on Park Center Street. Less than a year later they needed more room to serve their customers and expanded by another 10,000 square feet. 

“By the end of 2021 we realized our business would soon outgrow that location and business would continue to increase along with our existing and new builder clients throughout Alachua, Lake, Marion and Sumter counties,” said Michael (Micky) Blackton, chairman and CEO of the Orlando-based firm.

By early this year Blackton had purchased seven acres in the industrial park and construction got underway immediately on their new building that was designed and situated for customers to benefit from drive-thru access.

Company Leadership Photo from left: Micky Blackton, CEO; Sean Monett, President; Michael Walmer, Customer Relations Manager; Erica Costa, Vice President and Clay Weaver, Leesburg Branch Manager.

The new location also includes an acre of paved, secured storage.

Blackton currently employs a staff of 20 in Leesburg, led by Leesburg Branch Manager Clay Weaver, (far right in photo) who has been with the firm for more than 20 years.

Future plans include as many as four or five more buildings, as the company has already purchased several more parcels in the industrial park.

Headquartered just north of downtown Orlando with additional locations in southwest Orlando and Holly Hill in east Volusia County, Blackton Inc. is one of Florida’s largest and most active suppliers of roofing and flooring to homebuilders. 

The company has been supplying builders from Jacksonville to Tampa since it was founded nearly seven decades ago.

CONTACTS:

Michael “Micky” Blackton,

Chairman/CEO,

Blackton Inc.

407-898-2661 

Micky@Blacktoninc.com

Beth Payan,

Larry Vershel Communications

407-461-3781

 Beth@LarryVershel.com