JLL Capital Markets closes sale of the 197,553-square-foot Lake Worth Marketplace in Lake Worth, TX

Erin Lazarus

DALLAS, March 18, 2024 – JLL Capital Markets announced today that it has closed the sale of Lake Worth Marketplace, a 197,553-square-foot, Kohl’s-anchored retail power center located in Lake Worth, Texas.

 JLL represented the seller in the transaction. Vista Property Company, based in Dallas, acquired the asset.

Barry Brown 

Built from 2005 to 2007, the 93-percent-occupied Lake Worth Marketplace possesses a tenant mix made up of nearly 100% investment-grade credit and national retailers. 

In addition to anchor Kohl’s, the property is leased to Marshalls, Burlington Coat Factory, pOpshelf, Lane Bryant and Bath & Body Works. The property boasts an average tenant tenure of 14.7 years and a 4.5-year WALT. Over the last twelve months, the Property has seen over 1.5 million customer visits.

Chris Gerard

Located just west of Fort Worth at 6034 Azle Ave., in Lake Worth, Texas, the property is just a 15-minute drive along Jacksboro Highway to Downtown Fort Worth. 

Keenan Ryan

The center benefits from demand drivers, such as Texas Christian University (TCU), the Fort Worth Culture District, the Fort Worth Stockyards, Dallas-Fort Worth International Airport and the Lockheed Martin Campus, as well as the eclectic residential neighborhoods of Greenfield Acres, Sansom Park and North Beverly Hills. 

The five-mile radius surrounding the property is home to approximately 176,000 residents with an average household income of $91,378 and $5.38 billion in consumer spending power.

 

The JLL Retail Capital Markets Investment Sales Advisory team was led by Senior Managing Directors Barry Brown and Chris Gerard, Director Erin Lazarus and Analysts Keenan Ryan and Ben Pollack.

 Ben 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 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.

 CONTACT:

 Jenna Sharp

JLL, Public Relations, Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

Cemvision raises €10M ($10.86 million U.S.) in landmark climate tech seed round

  

Susanne Najafi

 STOCKHOLM, SWEDEN -- Sweden, the leading climate tech ecosystem in the EU by investment volume in 2023, is up for this year too. In the largest known green cement seed round to date, Swedish Cemvision joins forces with its compatriot investors Polar Structure and BackingMinds, and SF-based Zacua Ventures.

 

The news comes soon after Cemvision announced its first official customer contract and is part of a plan to accelerate the company’s short-term momentum. The cement industry accounts for 8% of global CO2 emissions and is an estimated $400B market globally.

Oscar Hållén

“This investment will accelerate our near-future operations, right before we make the next jump, which is not too far away, says Oscar Hållén, CEO of Cemvision.

 

 "Having met and retained interest from VCs worldwide, we concluded some of the very best ones were right around the corner, and we are delighted to have them doubling down on Cemvision.

 

"Furthermore, Zacua’s global understanding of the green transition of the built environment is the most impressive we’ve ever come across,” says Hållén.

Cemvision Team

BackingMinds and Polar Structure invest the lion’s share of the €10M ($10 million U.S.), with Zacua contributing an additional amount.

 

BackingMinds is a VC investing in the blind spots of venture capital. The firm has made more than 20 investments in Europe including innovative technologies and circular business models solving the big global challenges.

 

”Cemvision is addressing a $400 billion market, precisely meeting the increased environmental and regulatory needs of the industry," says Susanne Najafi, founding partner of BackingMinds VC

Tobias Emanuelsson

"With the overwhelmingly positive market response, we're thrilled to keep backing the Cemvision team as they pioneer global sustainable construction.”

 

Polar Structure is a green transition partner in infrastructure development, providing the public and private sectors a way to develop, manage, and finance necessary investments to upgrade or build new, critical infrastructure. The firm’s other green transition portfolio investments include freight mobility unicorn Einride.

 

“We are constantly in search of innovations that can help us develop and scale the essential solutions required to achieve net zero emissions," says Tobias Emanuelsson from Polar Structure.

 

 "Cemvision's technology to produce fossil-free cement, backed by their exceptional team, exemplifies our commitment to such innovations.”

 

Juan Nieto

Zacua is an early-stage, sector-specific venture fund tackling the world's biggest challenges in sustainability, productivity and urbanization. It has offices in San Francisco, New York, Singapore, Madrid, and Mexico City – and is led by partners with deep-running experience of investing in construction tech.

 

Commenting on the investment, Juan Nieto, General Partner, at Zacua Ventures, added: "Cemvision's potential is nothing short of extraordinary – it's poised to lead the net-zero cement game.

 

"With a top-notch team bringing serious industry chops and a fresh take on decarbonisation of cement, they're primed to shake things up big time. We are beyond excited to take this journey together with the team and our esteemed co-investors.”

 

Cemvision’s products offer an alternative to traditional Portland cement, reducing CO2 by more than 95% while retaining durability and performance.

 

It is produced using raw materials recycled from industrial waste and kilns powered by green electricity at much lower temperatures. Cemvision’s cement builds early strength up to 5 times faster than Portland, allowing for increased productivity.

 

The company was founded by three experienced leaders from global cement industry incumbents.

 

 

CONTACTS:

 

Oscar Hållén,

Chief Executive Officer,

 oscar.hallen@cemvision.se

 

Max Larsson von Reybekiel CMO/CCO,

 max.reybekiel@cemvision.se, 

+46722334486

www.cemvision.tech and press@cemvision.se

 

 

 

JLL Capital Markets arranges sale of the 183-unit Creekview Crossing apartment community in Sherwood, OR

  

Carrie Kahn

PORTLAND, OR –PORTLAND, OR – JLL Capital Markets has closed the sale of Creekview Crossing, a 183-unit, garden-style community located in the Portland suburb of Sherwood, Oregon. The price was not disclosed.

 

JLL worked on behalf of the seller, and procured the buyer, a fund managed by LaSalle Investment Management.

 

Ira Virden

Built in 2009, Creekview Crossing offers spacious one-, two- and three-bedroom floorplans with attached garages, nine-foot ceilings, granite countertops and central HVAC, as well as community amenities, including a 24-hour fitness center, a playground, a pool and picnic tables. 

 

As part of the transaction, the buyer assumed the below-market financing.

 

Situated at 21759 SW Cedar Brook Way, Creekview Crossing is positioned less than 25 minutes from downtown Portland.

Frank Solorzano

The property’s location offers residents exceptional transit connectivity with the proximate Highway 99, SW Tualatin-Sherwood Road, and Interstate 5, allowing access to the region’s top retail destinations, employers and Sherwood’s highly regarded school district.

 

Nearby employment hubs include the 15-million-square-foot Tualatin-Sherwood Industrial Hub, the Legacy Meridian Park Medical Center, LAM Research, Willamette Valley Wine Country, Providence Sherwood and Tonquin Employment Area.

Creekwood Crossing, a 183-unit, garden-style community
located  at. 21759 SW Cedar Brook Way
in the Portland, OR suburb of Sherwood

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

 

“This is another example of institutional buyers still being very interested in the Portland market. We had excellent interest in the offering and continue to see a tremendous amount of capital looking at Portland,”  said Virden.

 

 

 

CONTACT:

 

 Jenna Sharp

JLL, Public Relations

 Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

us.jll.com/education    .

 

Tuskegee University selects JLL as its facilities maintenance provider for HBCU’s 100 buildings on the 5,000-acre campus in Tuskegee, AL

  

Allysia Kizzee

CHICAGO, IL, Mar.18, 2024 – JLL announced today that Tuskegee University, a private, historically black land grant university, has selected JLL to provide integrated facilities management (IFM) services for its 5,000-acre campus in Tuskegee, Alabama.

 

Tuskegee University is the only Historically Black College and University (HBCU) designated a National Historic Site. As of March 1, JLL’s Education IFM team is responsible for maintaining and preserving the university’s grounds and 100 buildings housing more than 1.7 million square feet.

De’Von Williams, Executive Director, Solutions Development, and Reginald Adams, Senior Vice President, Education Operations, with JLL worked with Tuskegee University during the selection process, and Allysia Kizzee Director of Facilities, leads the on-site JLL team.

De’Von Williams

“We are thrilled to embark on this transformative journey with Tuskegee University,” Williams said. “Our new relationship is not just a contract; it’s a dynamic alliance that propels us into the future of innovation, collaboration and shared success.”

  

JLL’s goal is to provide a best-in-class, holistic equipment system and maintenance program on which Tuskegee’s approximately 2,800 students, 807 employees and numerous visitors can rely.

 

 To achieve this, JLL is deploying cutting-edge technology, including Corrigo, to efficiently manage and monitor tasks while simultaneously driving savings for the university.

 Reginald Adams

The services JLL is providing includes building engineering; electrical, elevator and HVAC maintenance; fire and life safety; landscaping and grounds maintenance; and janitorial, waste disposal, and recycling services. 

 

JLL will also implement a pilot training program with the city of Tuskegee and Macon County School District, resulting in a pathway to employment, along with committing 100% of proposed subcontracted dollars to minority business enterprises.  

Marcus Dean

“Tuskegee University is excited to partner with JLL in providing full-service, comprehensive and professional building management services to maintain and to preserve the grounds and buildings on the campus of Tuskegee University,” said Marcus Dean, Associate Vice President of Facilities and Construction with the university.

 

JLL is the premier provider of strategic real estate advisory for local, state, national and federal governments as well as public and education institutions.

 

 Its national team covers the entire real estate lifecycle from strategy, public-private partnerships, facilities management and sustainability services to transaction and project management.

 

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

 

CONTACT:

 

 Kimberly Steele
PR, Work Dynamics

and Industries
JLL
T +1 713 852 3420
M +1 832 244 9994
JLL.com

 

 

 us.jll.com/education.

 

Oakley closes sale of 96-unit luxury apartment community in Gulf Shores, AL

 

Marbella, a 96-unit luxury apartment community
 situated on 4.77 acres at 1910 East First Street
in Gulf Shores, Baldwin County, AL

BIRMINGHAM, AL and GULF SHORES, AL. --  An affiliate of Birmingham-based Oakley Group, one of the Southeast’s most active multifamily real estate investment firms, closed on the sale of Marbella, a 96-unit luxury apartment community situated on 4.77 acres at 1910 E. First Street in Gulf Shores, Baldwin County, AL. 

The price was not disclosed.

 Andrew Brown 

Seller OG Marbella, LLC, previously acquired the property in April 2021.  After adding professional onsite property management, improvements and enhancements to community amenities, they refinanced the property in August 2022 with a HUD loan, which the buyer now has assumed with the purchase. 

Atlanta-based Arcan Capital, LLC purchased the property that was listed and marketed by Cushman & Wakefield’s Andrew Brown and Craig Hey who ran a competitive bid process.  

 

Marbella features 99,600 square feet of rentable space comprised of 96 one- and two-bedroom residences.  A clubhouse, pool, outdoor gathering spaces and grill stations are among the amenities that were upgraded by the seller, increasing lifestyle value. 

 

Craig Hey

 The community is walkable to Gulf Shores Elementary School and is less than two miles to the beach

 

“Mobile-based Mitchell Group did an excellent job managing the asset for us,” Oakley said, adding that Berkadia’s commercial loan servicing experts seamlessly handled the HUD loan refinance.”

 

Since 2007 Oakley Group and its affiliates has built a track record of successfully investing in multifamily communities and has holdings in various markets throughout the Southeastern U.S.

 

  

CONTACTS:

 

 

David Oakley, OG Capital, 205-913-4632 or  David.Oakley@og.capital

Beth Payan, Larry Vershel Communications Inc. 407-461-3781 (direct) or Beth@LarryVershel.com