Friday, August 9, 2024

Subtext Announces Grand Opening of “VERVE West Lafayette,” Its First Student Housing Development Near Purdue University


From left: Brian Satterthwaite, President, Brinkmann Constructors; Jenifer Van Schuyver, Director of Development, City of West Lafayette; Marina Malomud, Partner & Chief Operating Officer, Subtext; Brandt Stiles, Founding Partner, Subtext; and Tim VanMatre, Founding Partner, Subtext, posed at the official ribbon cutting ceremony for VERVE West Lafayette held on August 1, 2024.

 

Photo Credit: Velvet Lotus Photography, provided by Subtext

 

 

 West Lafayette, IN – Subtext, a national student housing and multifamily real estate company, has announced the grand opening of VERVE West Lafayette, a 7-story mixed-use student housing community located just two blocks from Purdue University.

 

The development, at 150 S. Chauncey Avenue, West Lafayette, IN, is Subtext’s first project in West Lafayette and second in Indiana, after VERVE Bloomington.

 

 Subtext is also developing EVER West Lafayette, its second West Lafayette project, which is scheduled to open across the street at 147 West Wood St. in 2025. 

 

The 235-unit, 400,310-square-foot community features fully furnished studio, one-, two-, three-, and four-bedroom apartments, totaling 751 beds.

 

Brandt Stiles

 “Subtext is excited to be in West Lafayette given Purdue’s commitment to growth,” said Brandt Stiles, Founding Partner, Subtext. “We experienced a very collaborative process with the city, which led to architecture that steps down from surrounding buildings and feels super contextual to the neighborhood.

 

"The building has quality, timeless materials, like masonry, and a 20-foot window wall at the street level that gives visibility into the lobby.

 

 "With standout design details from the exterior to the interior, and walkability to campus and to State Street—which is really the epicenter of student activity off-campus—VERVE West Lafayette is here to deliver an unmatched resident experience.”


Timothy VanMatre


“In addition to the amazing features and amenities VERVE West Lafayette offers, residents will get an onsite team that is active, in tune, and responsive,” said Timothy VanMatre, Founding Partner, Subtext.

 

 “They were an integral part of not only creating the community here but helping to put the finishing touches on the property.

 

"The feedback the site team gathered during resident tours resulted in adjustments to our plans along the way, including changing the hot tub to year-round, increasing apartment TV sizes to 65 inches, and adding blackout curtains.”

 

Architecture is by WDG Architecture with interior design by Ankrom Moisan. Other development team partners include Brinkmann Constructors, general contractor; TBIRD Design Services, civil engineer; and PNC, lender.

 

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.”

Tuesday, August 6, 2024

Scott Robins, former Miami Beach Mayor Philip Levine, and Ben Mandell’s Tricera Capital Close on Lincoln Road Retail Asset for $13.6 Million





MIAMI, FL –– Scott Robins from Scott Robins Companies, Inc., former Mayor of Miami Beach Philip Levine, and Ben Mandell’s Tricera Capital, closed on 318-334 Lincoln Road, a ~24,000SF property located in the heart of Miami Beach, for $13.6 million. 


Ben Mandell

The property was sold by RFR Realty, a New York-based real estate investment firm founded by Michael Fuchs and Aby Rosen.


Philip Levine

Scott Robins, known for transforming neighborhoods in Miami Beach, stated, “This part of Lincoln Road has long been the 'Times Square' of Miami Beach. Our acquisition of this asset marks the start of a new chapter in this area. 

Scott Robins 

"My partners and I are excited to restore this iconic location to its former glory, bringing back the bustling energy and allure it once had.”

Current tenants at 318-334 Lincoln include Mr. Jones Miami, South Beach Munchies, and Sweet Life Gelato Italian Ice Cream. Ownership is actively leasing and is currently in discussions with several tenants for the vacant units.

“We are excited to enter this market at such a unique time,” said Tricera Capital CEO Ben Mandell. “This part of Lincoln Road has seen strong performance over the last few years and continues to be a service-oriented and convenient staple for travelers to Miami Beach.”

The timing of this purchase aligns perfectly with the broader revitalization efforts on Lincoln Road, especially in the 100, 200, and 300 blocks. A significant investment of approximately $12 million—contributed equally by the State, the City, and the Ritz-Carlton South Beach—is being dedicated to enhancing infrastructure, implementing art and landscaping, creating pedestrian-friendly streets to harmonize with the rest of Lincoln Road.

“With major capital improvement projects on the horizon, including the construction of a beautiful, pedestrianized streetscape, enhanced public beach access, and the addition of new hotels, restaurants, and retail stores, Lincoln Road is poised to regain its splendor of years past," said Levine.


 

 Contacts:


 Eric Kalis/Daniel Benjamin

954-370-8999

ekalis@boardroompr.com/dbenjamin@boardroompr.com

 

 www.triceracap.com.


Illustrated Properties Linda Bright Stars in Television Show The Bright Life of the Palm Beaches

  

Linda Bright 

 Palm Beach, FL, Aug. 6, 2024 – Illustrated Properties’ premier luxury real estate professional, Linda Bright will be the host of The Bright Life of The Palm Beaches, a new television show to air on Fox 29 and WSFL -TV locally in Palm Beach.


The lifestyle show features destinations and attractions in the most sought-after places to live across the county.

The show aims to promote the best of the Palm Beaches, focusing on luxury, relaxation, and rejuvenation.

Bright is a real estate veteran with over 30 years of experience. She is a Platinum Producer year after year, a member of the top Best of Best with Illustrated Properties, the #1 Luxury Broker in Palm Beach County and a member of exclusive REALM Global. She is a member of the Realtor Association.

  

CONTACTS:

 

Eric Kalis and Daniel Benjamin,

 BoardroomPR

ekalis@boardroompr.com

dbenjamin@boardroompr.com

954-370-8999

 ipre.com.

CrossMarc Services Names Real Estate Finance and Investment Veteran Joshua Harris as Senior Vice President

Joshua A. Harris
 

Winter Park, FL --- CrossMarc Services LLC, one of the fastest growing real estate investment and advisory firms in the Southeast, brought 

Joshua A. Harris, Ph. D on board as Senior Vice President.

 

Harris, who also serves as Executive Director of Fordham Real Estate Institute at Fordham University, will oversee several aspects of CrossMarc’s operations in the region, and will become integral to CrossMarc’s strategic vision and continued growth.

               

CrossMarc CEO John Crossman, CCIM, CRX said Harris is a prominent real estate economist and investment strategist.  He brings more than 20 years of experience that also encompasses research and market analysis, business development and management. 

 

He earned his undergraduate degree magna cum laude from University of Central Florida as well as his MBA and PhD in Finance.  He also received the Counselor or Real Estate (CRE), Certified Commercial Investment Member (CCIM), and Chartered Alternative Investment Analyst (CAIA) designations.

 

He has been named a Distinguished Fellow by the NAIOP Research Foundation and serves as the Chair of the Economic Advisory Council for the Counselors of Real Estate.

 

Harris was formerly vice president of investment strategy for the New York-based US commercial development division of Skanska AB – the global construction and development firm based in Stockholm – where his focus centered on development of high-rise office, multifamily and mixed-use projects from coast to coast. 


John Crossman

Prior to joining Skanska, he established and operates his own boutique real estate finance and economic consultancy, Lakemont Group based in Orlando. 

 

“CrossMarc Services is expanding its scope in the southeast and we are delighted Josh has joined our team as a leader to share his integrated academic and leadership experience,” said Crossman. “Harris is a highly regarded and widely known real estate professional and he brings a new level of expertise to our company that will have a significant impact on our future growth.”

 

About CrossMarc Services

 

Founded in 2020, Winter Park-based CrossMarc Services specializes in commercial real estate services, including advisory, investment, brokerage and property management.  

 

CONTACTS:

 

John Crossman, CCIM, CRX, President CrossMarc Services, LLC,  1011 N. Wymore Rd. Winter Park, FL 32789 -

 407-794-9393 or

 jcrossman@crossmarcservices.com

 

Beth Payan, Larry Vershel Communications;

407-461-3781 

beth@larryvershel.com

 

www.crossmarcservices.com

 

Saturday, August 3, 2024

DXD Capital completes development of new 88,620 SF storage facility in Bristol, Rhode Island

                   New, Class A, climate-controlled storage facility 

located at 180 Mount Hope Avenue in Bristol, RI


   BRISTOL, RI—DXD Capital, a private equity investor and self storage developer, announced the opening of a new, Class A, climate-controlled storage facility in Bristol, RI.

 

 The facility, located at 180 Mount Hope Avenue, has 750 individual storage units totaling 61,600 net rentable square feet and features one-of-a-kind design elements that mimic New England townhomes meant to blend in with the surrounding neighborhoods.

 

Extra Space will manage this facility. Jayeff served as the general contractor, and Centreville Bank was the construction lender.

 

The property was acquired in November 2022 through DXD’s first fund, DXD Self Storage Fund I, which launched in November 2020 and closed in November 2021 with $63 million in capital commitments. The company launched its second fund in June 2022 and has since invested in ten self storage projects across the United States.

Drew Dolan

"This facility is unique as we designed it to look more like townhomes than traditional self storage because of the uniqueness of the market,”  said Drew Dolan, Principal and Fund Manager. 

 "We knew that if we were going to get storage built in a market like Bristol with such high barriers to entry, we had to make a real investment in the community. We are happy to have done that and expect ours to be the last storage facility built on the peninsula."

 

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.”

 www.dxd.capital

 



www.dxd.capital

STOS PARTNERS ACQUIRES 279,233-SQUARE-FOOT INDUSTRIAL COMPLEX IN SALT LAKE CITY FOR $35 MILLION

CJ Stos


SALT LAKE CITY, UT Stos Partners, one of the most active commercial real estate investment and management firms, has announced that it has entered the Salt Lake City industrial market, acquiring a three building 279,233-square-foot industrial complex located on 14.53 acres at 900 W 2900/2950/3100 S in Salt Lake City, Utah for $34.99 million ($118 per square foot) in an off market transaction.

Led by Principal and Founder CJ Stos, Partner Jason Richards, Executive Vice President Jay Boyle and Vice President of Acquisitions Morgan Hill, the company will immediately implement a capital improvement program, stabilizing and re-tenanting the asset.

Jason Richards
Eli Priest, Jeff Heaton, and Kyle Roberts of Newmark have been retained to oversee leasing at the industrial complex.  Alex Harrold of Mathews Real Estate represented Stos Partners in the acquisition.

“With the growth of ecommerce, logistics, and manufacturing, Salt Lake City continues to strengthen as a key market for industrial users,” says CJ Stos, Principal at Stos Partners.

 “Despite this property not being on the market, our team identified this asset and immediately began working to acquire it.  In addition to the prime location and functionality of the park, we were attracted to the opportunity due to the wide range of suite sizes and tenant diversification.

 Jay Boyle
“The Salt Lake City industrial market saw leasing activity exceed 2.5 million square feet in the second quarter of this year with logistics and distribution accounting for 81 percent of that total, according to JLL’s Q2 Salt Lake City Industrial Report,” said Hill.  

“Small to mid-sized industrial tenant requirements in Salt Lake City make up the majority of the of leasing activity throughout the market, which should continue to drive strong leasing activity in the second half of 2024.”

Morgan Hill

900 West 2900/2950/3100 South is ideally located near the I-15, I-80, I-215 and SR-201 Freeways, providing convenient access to neighboring communities and accessibility for transport and logistics.  It is also located approximately 10 miles from Salt Lake City International Airport.

Competitive building features include 22-foot clear height, 49 dock high doors and 18 drive-in ground level doors.


About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors. 


 Alex Harrold
With a track record spanning over $1.7 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through value-add acquisitions and strategic repositioning of industrial and multifamily assets of both institutional and small-to-mid-cap commercial properties.

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably. More information is available at www.stospartners.com.

 Contact:

David Ebeling

Ebeling Communications

(949) 861-8351

david@ebelingcomm.com

Ware Malcomb Names Smita Gupta Regional Director in San Diego

  

Smita Gupta

SAN DIEGO, CA Ware Malcomb, an award-winning international design firm, today announced that Smita Gupta has joined the firm as Regional Director to lead the San Diego offices. In this role, she will work closely with San Diego's existing leaders to continue the firm's growth and diversification in the region.

Smita brings more than 30 years of architectural experience and international leadership to Ware Malcomb, including in principal roles incubating and growing the India practice and advising clients across Asia Pacific and the Middle East at another international design firm. Most recently, Smita served as the firm’s regional sciences practice area leader for the southwest United States, demonstrating her versatility and expertise across sectors. 

Previously, Smita was a senior member of Genentech’s in-house design and engineering team. Her instrumental role in expanding the California-based biotech firm's real estate portfolio demonstrated her strategic planning and execution capabilities.

Matt Brady

“With her rich blend of design and real estate experience, coupled with her extensive leadership acumen, Smita brings a unique perspective to the firm,” said Matt Brady, Executive Vice President, Ware Malcomb. “We are pleased to welcome her to the Ware Malcomb team and look forward to her contributions.” 

Smita earned her Bachelor of Science degree from Westbrook College in Portland, ME, and Master of Architecture degree from Virginia Tech University. Beyond her professional achievements, Smita is an active member of the UC San Diego Real Estate and Development (RED) Advisory Board, showcasing her commitment to advancing industry knowledge and best practices in San Diego. 


CONTACTS:

Rachel Devany

VP Public Relations, KCOMM for Ware Malcomb

Maria Rodgers, Director, PR & Communications, 949.660.9128, mrodgers@waremalcomb.com

Sean Boswell, PR Specialist, 949.660.9128, sboswell@waremalcomb.com


Thursday, August 1, 2024

Ware Malcomb Promotes Brian Price to Director, Regional Business Operations in Dallas, TX

 Brian Price
 
 DALLAS, TX  – Ware Malcomb, an award-winning international design firm, today announced that Brian Price has been promoted to Director, Regional Business Operations in its Dallas office. In this role, he is responsible for overseeing and coordinating business operations in the Phoenix, Houston and Dallas markets. 

 "Brian has become an integral leader of Ware Malcomb's Southwest region since joining us in 2022," said Kevin Evernham, Regional Vice President, Ware Malcomb. "His collaborative nature, combined with his solid business and operations acumen, make him a true asset to the firm."

Kevin Evernham

Price brings 24 years of industry experience to his role with the firm. Before his promotion, he served as Operations Manager in the Dallas office, managing clients and notable projects with the architecture team.

 CONTACTS:

Rachel Devany

VP Public Relations,

KCOMM for Ware Malcomb

 Maria Rodgers,

Director, PR & Communications,

 949.660.9128, 

mrodgers@waremalcomb.com


 Sean Boswell, PR Specialist, 949.660.9128,

 sboswell@waremalcomb.com