JLL Capital Markets handles construction financing for Denton Point III, IV and V, a to-be-built, Class A industrial park in Denton, TX

 

Campbell Roche

 

DALLAS, TX, Aug. 19, 2024 – JLL Capital Markets has secured construction financing for the development of Denton Point III, IV and V, a to-be-built, Class A industrial park located in Denton, Texas. Financial details were not disclosed.

 JLL worked on behalf of the borrower, Holt Lunsford Commercial Investments, to secure a five-year loan from First United Bank.

 

The JLL Debt Advisory team was led by Senior Managing Director Campbell Roche, Senior Directors Will Mogk and Tom Weber, Associate Luke Rogers and Analyst Jordan Buck.

Will Mogk

Totaling 451,856 square feet, the three industrial buildings will feature rear-load configurations, 28-foot to 32-foot clear heights, 114 total dock doors, bay depths ranging from 160 feet to 280 feet, ample parking and brand-new public road infrastructure surrounding the development.

 

      Jordan Buck

The development site is situated within the Denton industrial submarket, one of the most in-demand submarkets in the Dallas-Fort Worth metroplex.

                                                                 

Upon completion, the properties will be conveniently located just 1.8 miles from the convergence of I-35E and I-35W, providing direct trucking routes to both Dallas and Fort Worth.

Tom Weber

Additionally, the development’s proximity to Highway 380 rounds off its excellent access to the entire metroplex.

  

According to JLL’s Q2 Dallas-Fort Worth Industrial report, the market’s demand from leasing activity experienced a 25.1% increase quarter-over-quarter, totaling over 12 million square feet.

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.

 Luke Rogers

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 First United Bank

Established in 1900, First United Bank has more than 85 bank, mortgage and insurance locations throughout Texas and Oklahoma. 

 It is among the largest privately held community banking organizations in the U.S. with assets of more than $16 billion.  First United Bank provides a full range of financial services including banking, mortgage, insurance, and investment products and services, and is dedicated to inspiring and empowering others to Spend Life Wisely®.

 

CONTACT:   

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 

firstunitedbank.com.

 

Forman Capital Provides $8 Million Bridge Loan to Dan Kodsi’s Royal Palm Companies

Scott Mehlman

 .MIAMI, FL and PALM BEACH, FL  – Forman Capital, a leading private direct real estate lender, funded an $8.36 million pre-development bridge loan secured by a Miami residential development site. 

The borrower, Dan Kodsi’s Royal Palm Companies (RPC), plans to develop a condo-hotel project on the properties.

 

The transaction closed on Aug. 16. Chief Investment Officer/Partner Scott Mehlman and Vice President Ty Regnier closed the financing on behalf of Forman Capital.

Ty Regnier 

“Forman Capital is excited to collaborate with a sponsor we have a longstanding relationship with,” Mehlman said. 

“Given Miami’s continued population growth and year-round tourism, this branded condo-hotel development should be extremely successful. We are particularly bullish on the product type and Miami’s urban core overall.”

 

The site, which consists of two contiguous parcels totaling 0.49 acres just north of downtown Miami, is entitled for the development of up to 245 residential units. RPC is working with the City of Miami to increase the site’s density to accommodate up to 360 units.

 

RPC was founded by Kodsi in 1978 and has delivered over 9,500 units with $4.7 billion in real estate investments. The project site, located at 1317-1353 N. Miami Ave., is less than a mile from the I-95/I-395 interchange and near museums, parks, shopping, dining, Kaseya Center - the Miami Heat’s home arena, PortMiami and much more. 

Two existing commercial buildings operated by two restaurant supply tenants are currently located on the overall project site.

 

“This is one of the more attractive undeveloped sites in the Greater Downtown Miami market,” Forman Capital Partner Ben Jacobson said. “The combination of the site’s appeal, the developer’s track record and pent-up demand for additional high-end condo-hotel inventory bodes well for the project’s sales activity.”

 

About Forman Capital:

 

Palm Beach-based Forman Capital is a provider of private commercial real estate debt and equity financing for transactions ranging from $5 million to $100 million.  Company principals Brett Forman and Ben Jacobson have closed more than $2.8 billion in commercial real estate transactions since 2004. For more information, visit 

 

 

 

CONTACT:

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

 

www.formancap.com.

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 

Industry Veteran Beth Barris Named Executive Vice President of Sales & Marketing to Lead New Department at Elevat3

 

Beth Barris

HOUSTON, TX —Officials of ELEVAT3, a leading revenue management consultancy firm, has launched a new sales & marketing division to provide tailored branding solutions for hoteliers, naming industry veteran Beth Barris as executive vice president of sales & marketing to lead the new offering.

             “With more than two decades of direct hospitality sales and marketing experience , Beth is the ideal candidate to lead ELEVAT3’s new division,” said Nilesh Patel, partner and co-founder, ELEVAT3.  “These new offerings are a natural outgrowth for our company and will provide a valuable service to our clients to help them enhance asset performance and boost sales.”

Nilesh Patel,

 Prior to joining ELEVAT3, Barris was chief sales officer of Barris Hospitality Consultancy, where she was contracted by hotel sales and marketing teams, owners and management companies to provide superior services to help expand existing properties’ sales revenues and market shares. 

 

  Previously, she held multiple roles with Marshall Hotels & Resorts culminating in executive vice president of sales and marketing.

 

For more information about Elevat3 Revenue Management or Sales and Marketing, please visit www.elv3.com or contact Nilesh Patel at nilesh@elv3.com or Beth Barris at beth.barris@elv3.com.

 

CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

 

Avion Hospitality Appoints Dan Peterson Senior Vice President of Operations

 

Dan Peterson

 

 PLANO, TX, Aug. 20, 2024 — Avion Hospitality, a leading, third-party, national hotel operator, announced the company has appointed

Dan Peterson senior vice president of operations.  Most recently, he served as executive vice president of operations with Minneapolis-based CSM Corporation.

 

“Dan’s wealth of experience and proven track record in operations make him a valuable addition to the Avion team,” said Robert Burg, CEO/president of Avion Hospitality. 

 

“His owner-centric expertise, experience and respect from national brands will be key to supporting Avion’s continued growth, as we embark on this exciting expansion phase.

Robert Burg

"I am confident that Dan’s leadership will enhance our operations and support for our assets, and his addition to the leadership team underscores Avion’s commitment to continuing to put infrastructure in front of growth.”

 

A 25-plus year hospitality operations veteran, Peterson has extensive experience overseeing third-party management company teams and portfolios with such brands as Hilton, Marriott and Hyatt in the full-service, resort, lifestyle and select-service segments. 

 

Peterson currently serves on multiple advisory boards. He received his Bachelor of Arts in Hotel and Restaurant Administration from Washington State University.

 

CONTACT:

 

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.avionhospitality.com.

 

Steel Peak acquires industrial outdoor storage property in San Diego, CA area for $3.75 million

  

Industrial outdoor storage (IOS) property
located at 2213 Meyers Avenue
in Escondido, CA

 SAN DIEGO, CA, Aug. 19, 2024 —Steel Peak, a commercial real estate investment firm focused on industrial outdoor storage (IOS) properties, announced today it has acquired an industrial outdoor storage (IOS) property located at 2213 Meyers Avenue in Escondido, California for $3.75 million.  

Pasha Johnson,

The IOS property features an 8,000-square-foot industrial building and large secured fenced yard on 1.69 acres. 

 Earlier this year, the firm acquired a four-building, 12,000-square-foot IOS property located on 2.5 acres in El Cajon for $6.3 million. 

 IOS properties are within a sub-segment of the Industrial asset class that serve the needs of the transportation, logistics, and construction sectors.

Blake Rodgers

“This type of property is in high demand as there is a constant need for a 5,000-15,000 square foot warehouse building with over one acre of excess paved yard that is zoned for outdoor storage,” said Pasha Johnson, Steel Peak Principal and Co-Founder.

 “We are seeing extremely low supply of industrial properties with outdoor storage in San Diego County, especially in North County which serves as a strategic location to service the San Diego, Orange County, and Inland Empire markets."

Mike Erwin

Blake Rodgers, Steel Peak Principal and Co-Founder, continued by saying “Steel Peak plans to lease the property very quickly with minimal improvements needed as the property is in great condition.

 "The target tenants are contractors and heavy industrial users that need the zoning that allows for outdoor storage to operate their business.”

Steel Peak will continue to seek IOS investment opportunities throughout the Western U.S. with capitalized values ranging from $5 million to $50 million. The firm invests directly and in partnership with institutional and high net-worth investors. 

Tucker
Hohenstein

Our goal is to is to become the most active buyer of IOS sites in the Western States this year.”

2213 Meyers Avenue is ideally located with immediate access to California State Route 78 and Interstate 15, providing convenient access to neighboring communities.  The property features 18-foot clear height, six oversized ground-level loading doors, abundant power and office space.

              Mike Erwin, Tucker Hohenstein and Hank Jenkins of Colliers San Diego resented the seller, ACT PROPERTY ACQUISITION PARTNERS II LLC as well as Steel Peak in the transaction.

Hank Jenkins

About Steel Peak

Steel Peak is a Southern California based real estate investment firm that specializes in unlocking value in industrial outdoor storage (IOS) properties.

Steel Peak’s relationship driven investment strategy focuses on sourcing hidden opportunities that translate to outsized returns. 

 

 

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.steelpeakproperties.com.