Thursday, November 14, 2024

National Accounting and Business Advisory Firm Relocates to New Class A Office Campus in Las Vegas area

Amy Lance
   

LAS VEGAS, NV — Howard Hughes Holdings Inc., developer of the Summerlin® master planned community and its 400-acre urban core of Downtown Summerlin®, announced Eide Bailly LLP has signed a 25,636-square-foot lease at Meridian, Summerlin’s newest Class A office campus. 


The national accounting and business advisory firm  will occupy the top floor of the recently completed campus’ east suite. Eide Bailly expects to move approximately 80 employees into Meridian by May 2025.

 

Meridian, located at 1 Meridian Vista Drive, consists of a three-story office building totaling 147,602 rentable square feet.


Chris Wilcox

According to Chris Wilcox, Las Vegas Market Leader & Pacific Region Tax Practice Leader for Eide Bailly, the firm chose 1 Meridian Vista Drive primarily for its convenient location and ease of access to the office and freeway. 


Charles Van Geel

“The building has a modern high-quality feeling that we are excited to be a part of. We believe that being in this building and location will help attract future team members to Eide Bailly and be a collaborative work environment for our current staff. We also believe our clients will find it an inviting place to visit.” 


According to Cushman & Wakefield Las Vegas-based brokers, Charles Van Geel, Senior Director, and Amy Lance, Director, who oversee leasing for Howard Hughes’ office portfolio in Summerlin, Meridian offers an innovative campus environment with ample parking and flexibility to accommodate growth.


Meridian, located at 1 Meridian Vista Drive, consists of
a three-story office building totaling
 147,602 rentable square feet

“National, regional, and local businesses are drawn to Meridian for many reasons, including its high visibility and premier Summerlin address in the southwest submarket,” said Van Geel. 


“Meridian is located minutes from Downtown Summerlin with abundant retail, dining, entertainment and sports venues, as well as nearby parks, trails, golf courses and outdoor areas like Red Rock Canyon National Conservation Area – amenities that uplift the quality of the workplace for employees and create an attractive place to do business for clients and patrons.”  

 

Built to LEED Silver standards, Meridian is awaiting final certification from the U.S. Green Building Council (USGBC).

 


CONTACTS:

 

Melissa Warren,

 The Warren Group

702-528-6016;

 melissa@twgpr.com

 Charles.VanGeel@cushwake.com,

 702-688-6966; or

 

Amy Lance

 Amy.Lance@cushwake.com

 702-688-6872.

 

Lee & Associates South Florida Welcomes Garrick Benabe as Principal

Garrick Benabe 

MIAMI, FL (Nov. 11, 2024) – Lee & Associates South Florida significantly strengthened its hospitality brokerage capabilities with the addition of

Garrick Benabe as Principal. Based in Miami, Benabe is a hospitality investment sales specialist with a knack for handling complex transactions.

 

An award-winning power broker, Benabe most recently served as Director of Hospitality Investments at APEX Capital Realty. In that role, he led initiatives in hotel development, acquisitions and dispositions. Benabe’s previous experience includes working with Marcus & Millichap’s National Hospitality Group, further honing his skills in real estate financing, stakeholder management and national account oversight.

 

“Garrick Benabe is a dynamic real estate professional who greatly expands our firm’s ability to serve hospitality investors and developers,” Lee & Associates South Florida President Matthew Rotolante said. “We continue to attract talented, high-performing commercial real estate brokers who understand that we are building an agent friendly culture and environment that allows them to earn the most while still having the top resources and support and a strong national platform to service their customers at the highest level.”


 

Matthew Rotolante 

Benabe is adept at guiding clients through complicated hotel acquisitions, dispositions and development projects. His broad expertise spans strategic deal execution, partnership negotiation and real estate technology, allowing him to provide comprehensive solutions to his clients.


CONTACT

 

Eric Kalis

Senior Vice President

ekalis@boardroompr.com

C 305-794-5123

O 954-370-8999

Web | Facebook | Instagram | LinkedIn

 


Wednesday, November 13, 2024

$45M financing secured by JLL Capital Markets for 225-bed Garden Village student housing in Berkeley, CA

  

 Annie Rice

LOS ANGELES, CA – JLL Capital Markets has secured a $45 million acquisition financing for Garden Village, a 77-unit student housing community in Berkeley, California.

 

JLL represented the borrower, Hawkins Way Capital, in securing the two-year, floating-rate loan through Limekiln Real Estate Investment Management, LP.


Brandon Smith

The property will be operated as the FOUND Study Southside Berkeley and will be managed by FCL Management, as an operator of successful properties across select cities in the U.S., aligning with Hawkins Way Capital’s strategy to maximize value in prime student housing markets.

 

The financing package includes an initial funding of $36 million, with an additional $9 million available for future funding.


Gyasi Edmondson.


 Garden Village, situated just three blocks from the University of California, Berkeley campus at 2201 Dwight Way, offers a prime location for students.

 

Built in 2016, the mid-rise urban apartments offer a mix of two- and four-bedroom floor plans. Spanning 64,301 square feet, the property comprises 18 buildings across 0.62 acres.



Garden Village, a 77-unit student housing community in Berkeley, CA

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Directors Brandon Smith and Annie Rice and Director Gyasi Edmondson.

 

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

  

 

 CONTACT


Gréta Kieras

Senior Associate, Public Relations

JLL Capital Markets

1980 Festival Plaza Drive
Suite 250

Las Vegas, 

NV 

89135

+1 949 930 8498

Greta.Kieras@jll.com

 

Monday, November 11, 2024

Class A luxury multi-housing development in Florida trades hands

Tucker Brooks

JACKSONVILLE, FL – JLL Capital Markets has arranged the new construction sale of The Mark at Wildwood, a 294-unit multi-family complex in Oxford, Florida. The price was not disclosed.

 

JLL represented the seller, Varden Capital Properties and Tellus Partners. The buyer was TriBridge Residential.

 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Directors Cliff Taylor and Joe Ayers, Directors Ryan Hixon and Tucker Brooks and Associate Mike Scott.

 

"The Mark at Wildwood presents a compelling investment in America's fastest-growing metro area," said Taylor. "Its strategic location adjacent to The Villages, coupled with the area's robust demographics and economic growth, positions this luxury development for sustained success in the thriving Central Florida market."

 

 Cliff Taylor

The Mark at Wildwood, located at 3795 Bismark Ct., sits at the northwest corner of The Villages development in Sumter County, Florida, less than an hour north of Orlando.

 

Strategically positioned adjacent to an Aldi grocery store, the property offers convenient access to over seven million square feet of commercial buildings and retail space.

 

Residents benefit from proximity to essential goods and services, as well as major employment centers such as UF Health, The Villages Hospital, HCA Hospital, AdventHealth Emergency Room and a VA Outpatient Clinic nearby.

 

Sumter County, home to The Villages, stands out as America's fastest-growing metro area, boasting a remarkable 62% population surge since 2010. Known as America's Premier Active Adult Community,

 

 Joe Ayers

The Villages houses over 150,000 residents with a median age of 69.3 years and an average household income exceeding $103,000. 


This thriving community contributes to a robust local economy, supported by a highly educated populace, with 65% of residents holding college degrees.

 

The Mark at Wildwood, a Class-A luxury development completed in 2023, is a three-story, garden-style multifamily property offering a mix of one-, two- and three-bedroom flat and carriage home-style units. The community boasts high-end amenities such as a resort-style pool and clubhouse, while individual apartments feature luxury plank flooring, custom cabinetry with soft-closing hinges and stainless steel appliances.


 Ryan Hixon
“The Mark at Wildwood’s location next to the most developed retail corridor in The Villages allows its residents to enjoy a comfortable lifestyle with easy access to various employment centers, great grocery stores like Costco, Sprouts and Fresh Market as well as various healthcare hubs,” said Andy Green, Managing Partner at TriBridge Residential.

 

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.

Mike Scott


About Varden Capital Properties


Varden Capital Properties (VCP), founded in 2011 and headquartered in Atlanta, GA, is a real estate investment firm specializing in acquiring undervalued properties, particularly in the multifamily sector across the Southeast and Texas. 


With a track record of acquiring over 120 apartment complexes and developing thousands of units, VCP leverages its expertise in property management, renovation and strategic relationships to maximize returns for its diverse group of investors. 


The company, led by founding managing partner Trace McCreary, focuses on identifying markets with high growth potential and employs various investment strategies to generate attractive risk-adjusted returns.

 

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

 

CONTACT

 

Gréta Kieras

Senior Associate, Public Relations

JLL Capital Markets


Greta.Kieras@jll.com

CA

 RE license #

02111877

us.jll.com/capitalmarkets

Jones Lang LaSalle Americas, Inc.
a licensed real estate brokerage company.
​CA RE license #01223413

 

 

 

 

 

 

Sunday, November 10, 2024

JLL Capital Markets facilitates the $26 million sale of a 154,000 SF industrial portfolio leased to PODS in Tampa, FL

 

Taylor Osborne

MIAMI, FL – JLL Capital Markets brokered the approximately $25.8 million sale of PODS Tampa, a 154,490-square-foot portfolio comprising three fully leased industrial warehouses in the Tampa, Florida MSA.

 

JLL facilitated the sale on behalf of Ultimate Realty, LLC, who structured a long-term lease at market rents as part of the business plan execution. Institutional investors advised by J.P. Morgan Asset Management acquired the portfolio.

 Luis Castillo

Situated in the sought-after East Side and South Pinellas submarkets, the properties include two buildings totaling 54,390 square feet at 1871 Massaro Blvd. and a 100,100-square-foot facility at 3705 62nd Ave N. 

Built in 2004 and 2007, the properties feature 28- to 38-foot clear heights, eight oversized grade-level doors and climate-controlled warehouses.

Cody Brais

These assets also boast superior connectivity to Tampa's major transportation arteries, situated just off US-301 with direct access to I-275 and I-75.

 The entire portfolio is leased to PODS, one of the largest mobile self-storage companies in the nation. Founded in Tampa Bay in 1998, PODS maintains its headquarters in the area and has grown to employ over 3,000 people, facilitating more than six million moves.


The JLL Investment Sales and Advisory team was led by Managing Director Luis Castillo, Senior Director Cody Brais and Associate Taylor Osborne.


"This sale exemplifies the enduring appeal of strategically located industrial assets in Tampa's supply-constrained market," said Brais.


Castillo added, "The combination of prime infill locations, high barriers to entry and a credit tenant with a long-term commitment made this an attractive investment opportunity."


Joe Sabbagh

“Although Ultimate Realty’s strategy tends to favor longer term holds, we saw this as a compelling opportunity to capitalize on our successful execution of the business plan for this asset and deliver superior risk-adjusted returns to our investors,” said Joe Sabbagh, Founder of Ultimate Realty, LLC. “Per our current portfolio and recent investment activities, we remain bullish on the outlook for (last-mile) industrial properties in Florida.”




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, please visit JLL’s newsroom

 

CONTACT:

Grace Lewis

PR, Capital Markets

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 https://www.ultimaterealtyllc.com/.