Ware Malcomb New York Office Announces Completion of New Rimowa Retail Store in Las Vegas, NV

                                                                                           Photo by Pablo Enriquez

The newest retail location of RIMOWA, a leading global manufacturer of premium travel and carry-on luggage, at The Forum Shops at Caesars Palace in Las Vegas, NV

NEW YORK, NY – Ware Malcomb, an award-winning international design firm, announced construction is complete on the newest retail location of RIMOWA, a leading global manufacturer of premium travel and carry-on luggage, at The Forum Shops at Caesars Palace in Las Vegas.

Ware Malcomb served as Architect of Record for the project.

Bill Sotomayor

RIMOWA’s new Las Vegas store is one of six projects that Ware Malcomb is working on for the high-end luggage and travel accessory retailer, which is a subsidiary of LVMH Group.

Ware Malcomb also served as Architect of Record for the newly opened RIMOWA retail store in San Francisco and one currently underway in Honolulu.

In addition, the firm provided interior architecture and design services for two stores in New York City and RIMOWA’s Client Care Facility in Long Island City, New York. 

The Las Vegas store at The Forum Shops at Caesars Palace is comprised of 1,500 square feet in a new in-line casino promenade location.

RIMOWA’s sleek and contemporary aesthetic was conveyed with a bright, clean pallet of colors. The design called for the extensive use of illuminated polycarbonate in the all-new perimeter millwork, as well as translucent acrylic for the freestanding fixtures.

Anthony Simon 

 The Las Vegas store also features RIMOWA’s illuminated ‘conveyor belt’ that travels up the walls, across the ceiling, and morphs into shelving in the center of the space. A new second entrance was installed in the store to facilitate greater foot traffic and visibility.

“This striking new retail store design conveys the high quality and innovation that are key aspects of the RIMOWA brand,” said Bill Sotomayor, Regional Director of Ware Malcomb’s New York office. 

“We look forward to continuing to roll-out this new retail concept for RIMOWA stores opening in key markets throughout the United States and Canada”, added Anthony Simon, Director, Retail Architecture & Design.

The General Contractor for the project was Alain Hirsch Construction Corp.

CONTACTS:

Rachel Reenders

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maria Rodgers, Public Relations Manager, 949.660.9128, mrodgers@waremalcomb.com

Maureen Bissonnette, Associate Principal, Marketing, 949.660.9128, mbissonnette@waremalcomb.com 

Passco Cos. and Avenida Partners Break Ground on Two Active Seniors Developments in California and Tennessee

Renderindg of plannedAvenida Palm Desert development
Palm Desert, CA

Irvine, CA — Passco Companies, a privately held California-based commercial real estate company that specializes in acquisition, development, and property and asset management throughout the U.S., has collaborated with Avenida Partners, a real estate firm focused on the development and management of high-quality apartment communities for adults age 55-plus, to deliver two state-of-the-art active-adult seniors development projects in Palm Desert, California and Germantown, Tennessee.

The communities will be located at 40445 Portola Ave in Palm Desert, California and 7900 Wolf River Boulevard in Germantown, Tennessee. Construction for both projects is expected to be complete in summer of 2020.

Avenida Watermarq, Germantown, TN

“Avenida is pleased to partner with Passco on these quality projects,” says Steve Duffy, a partner of Avenida Partners. “Passco’s reputation for high-integrity and high-quality projects in strong markets was a great match for us.”

Each community will feature 161 apartment homes and feature resort-inspired amenities, as well as offer an ideal mix of enriching programs and services, according to Carey P. Levy, President of Passco Companies Development.

Carey P. Levy

 “We are thrilled to participate with Avenida Partners on these high-quality development endeavors as Passco establishes its footprint in the active seniors housing sector,” says Levy.

“Based on our deep experience, the Passco team recognized the strength of Avenida’s development and property management platform.

"This is a synergistic partnership that will provide the in-demand lifestyle desired by today’s 55-and-up residents, who value activity, luxury, and convenience.”

The Palm Desert, California development, called Avenida Palm Desert, features mid-century modern architecture and over 1.5 acres of resort style grounds including a 70’ pool for water aerobics and lounging, indoor yoga room and outdoor shaded yoga lawn, an olive garden for alfresco dining and a separate courtyard with a desert sculpture garden.

Stephen J. (Steve) Duffy

The Germantown, Tennessee community, called Avenida Watermarq at Germantown, sits on the banks of Lake Nashuba which is part of the Wolf River greenway trail system connecting to the Mississippi River.

The community will feature a lakeside entertainment cabana, elevated view pool deck, fitness center, yoga room, creative arts center, theatre, club room, entertainment deck, lawn sports, dog park, yoga lawn, and community gardens.

Contacts:

Elisabeth Manville / Micaela Fehrenbach

Brower Group

(949) 438-6262

emanville@brower-group.com

JLL arranges $29.8 million financing for Oak Brook, IL office property

Christopher Carroll

CHICAGO, IL– JLL announced  it has arranged a $29.8 million financing for 2001 York Road, a 184,525-square-foot office asset in Oak Brook, Illinois.

JLL worked on behalf of the borrower, an affiliate of Pembroke IV, LLC, to secure the 36-month, floating-rate loan.

2001 York Road is positioned within the Oak Brook submarket of eastern suburban Chicago.  

The affluent community is centrally located in DuPage County and is home to more than 10 million square feet of office space as well as the area’s primary economic driver, Oak Brook Center Mall, which is the largest open-air shopping center in the Midwest.  

Tenants have convenient access to both Interstate 88 and 294, connecting the property to Chicago’s CBD and greater Chicagoland.  The five-story office property has 33,000-square-foot average floorplates and is currently fully leased with Comcast occupying the majority of the building.

2001 York Road, Oak Brook, IL

The JLL Capital Markets team representing the borrower was led by Managing Director Christopher Carroll.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.                                                                                                                                                                                             

  

Contact: 

Kristen Murphy

JLL Director

 Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

jll.com.

Financing of Gateway Centre office campus in Aurora, CO arranged by JLL

Gateway Centre, Aurora, CO

DENVER, CO – JLL announced  it has arranged financing for Gateway Centre, a four-building office campus totaling 299,614 square feet in the Denver-area community of Aurora, Colorado.

JLL worked on behalf of the borrower, an affiliate of Equus Capital Partners, Ltd. (“Equus”), to place the five-year, floating-rate acquisition loan through the Pennsylvania office of Citizens Bank. 

Eric Tupler

 JLL also arranged the sale of the property to an affiliate of Equus on behalf of a confidential client.

Gateway Centre’s four buildings feature high ceilings, rectangular floorplates, tall windows with mountain views and substantial natural light. 

Completed between 1998 and 2001, the portfolio is 82% leased to a diversified tenant base that includes several credit tenants. 

Situated on 19.33 acres along Interstate 70 and Pena Boulevard, Gateway Centre is visible to approximately 108,000 daily commuters. 

Additionally, the property location provides easy access to Interstate 225 and E-470 along with the Gateway Park light rail station, which provides a direct link to Downtown Denver and Denver International Airport and is just east of the property. 

Leon McBroom

Buckley Air Force Base is five miles from the property, and more than 10 restaurants and 12 hotels are within walking distance.

JLL’s Capital Markets team representing the borrower was led by Senior Managing Director Eric Tupler and Senior Director Leon McBroom.

"The market around Gateway Centre is showing tremendous growth, with an influx of residential development, hotel activity, job growth and continued infrastructure investment, and Gateway Centre was well positioned to take advantage of this dynamic area,” Tupler said.

  

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

Contact:

 Kristen Murphy

 JLL Director, Public Relations

Phone: +1 617 848 1572

Email: kristen.murphy@am.jll.com

https://equuspartners.com. 

jll.com

Arbor Funds $7 million in Fannie Mae Small Loans Across the U.S.

                                    

Sam Schwass 

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded three loans totaling $7M under the Fannie Mae Small Loans program.

Sam Schwass of Arbor’s New York City office originated the loans and stated, “This portfolio demonstrates our leadership role in the Fannie Mae Small Loans market. 

"It’s also a good example of how we are satisfying the unique needs of a wide range of borrowers across the country with diverse properties and locations.”

The properties include:

·        Spanish Viento Apartments, Little Rock, AR – This 109-unit community features scenic, tree-lined homes and a pool. It’s close to local shopping and attractions such as the Little Rock Zoo, Central Arkansas Nature Center, and the Museum of Discovery. Built in 1972 and renovated in 2018, the property received $3.5M in acquisition funding.

   Spanish Viento Apartments, Little Rock, AR 

·        Santos Villas, Tampa, FL – This 40-unit, two-story complex features amenities such as balconies, smoke-free options, on-site parking and high speed internet access. Convenient to shopping centers, recreation and local transportation, Santos Villas received $1.8M in acquisition funding.

·         Treetop Haven Luxury Apartments, Milcreek, UT – These spacious new apartments feature amenities ranging from smart home technology to valet trash pickup to stainless steel appliances and hard wood style floors. Located near a variety of shopping, restaurant and entertainment alternatives, the property received $1.7M in refinance cash-out funding.

Contact: 

Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

JLL secures $40.5 million refinancing for Denver-area office complex

Ptarmigan at Cherry Creek office property, 3773 Cherry Creek North Drive, Denver, CO

DENVER, CO – JLL announced it has secured a $40.5 million refinancing for Ptarmigan at Cherry Creek, a two-building office property totaling 435,011 square feet in the Cherry Creek submarket of Denver, Colorado.

Josh Simon

JLL worked on behalf of the borrower, a joint venture between Titan Investments and Hamilton Partners, to secure the seven-year, 3.51% fixed-rate loan with a correspondent insurance company lender.  

The loan was structured with full-term, interest-only amortization and flexible prepayment.

Ptarmigan at Cherry Creek comprises two, 10-story, octagon-shaped buildings that are currently 88% leased to a diverse mix of tenants in the financial services, legal and professional services industries.  

The Energy Star and LEED Silver-rated buildings feature suites averaging 6,969 square feet each, a newly renovated lobby and plaza, fitness center with showers and lockers, common conference and training facilities, on-site property management and panoramic views of the Rocky Mountains. 

 Located on 5.44 acres at 3773 Cherry Creek North Drive, the properties are positioned within one of the most amenity rich submarkets in the Denver metro-area with more than one million square feet of retail within walking distance, including Cherry Creek Athletic Club, Cherry Creek Shopping Center, Whole Foods and SuperTarget. 

Cherry Creek Neighborhood, Denver, CO

 Additionally, Ptarmigan at Cherry Creek is convenient to Interstates 25 and 70 connecting the property to Downtown Denver just 15 minutes away as well as the Greater Denver metro area.

The JLL Capital Markets team representing the borrower was led by Managing Director Josh Simon.

  

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.                                                                                              

  

Contact: 

Kristen Murphy, JLL Director, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

Song Writer Irving Berlin’s East End Penthouse in New York City Going for $4 Million

Former East End duplex penthouse in New York City where
song writer Irving Berlin and wife Ellin lived for 13 years
in the 1930s and 1940s

Photo credit: Warburg Realty

NEW YORK CITY, NY -- One of the most prolific and important songwriters of the 20th century, Irving Berlin lived in this East End duplex penthouse in New York City with his wife, Ellin, which they bought in 1931 when he was 43.

Irving Berlin and wife Ellin
(Photo credit: Alamy)

According to TopTenRealEstateDeals.com, they lived there for the next 13 years and no doubt inspired by its exceptional views over the East River and the city, it was where he wrote I’ve Got My Love to Keep Me Warm, Say It Isn’t So and introduced God Bless America, which he had written years earlier.

Now on the market, it is priced at $3.995 million.

Occupying a duplex penthouse in a building built in 1929, it is located in the East Side’s Yorkville neighborhood advantageously situated overlooking the greenery of Carl Schurz Park with wide river and city views from the terraces and large windows that surround three sides of the home.

Debra Messing

 The main floor opens to a foyer with circular stairs, a living room with 28-foot ceilings and five large windows framing the view, a wood-burning fireplace and access to the wraparound terrace.

There is also a formal dining room that opens to a four-season sunroom with access to the terrace.

Ricky Martin

The lower level also contains the kitchen and one bedroom and bath formerly used as staff quarters. Upstairs is a large library with a wall of windows that opens to the top terrace, two bedrooms including the master, and two baths, all with mesmerizing views.

New York’s hidden Yorkville neighborhood has attracted the monied elite for years and has drawn celebrities such as actress Debra Messing, singer Ricky Martin, baseball-star Johan Santana and many other 20th-century notables.

Living in this apartment represented a major achievement for Berlin, who was born in Siberia and whose parents immigrated to New York when he was a child.

Johan Santana

 He forged a living from the only thing he could think of to do - singing in local establishments and writing songs he thought the locals would enjoy.

 By the time Berlin and his wife moved into this apartment, he had written hundreds of songs and was fast becoming known as the songwriter who represented the soul of America with songs and lyrics that appealed to the average American.

In his lifetime of 101 years, Berlin’s songs have become a large part of the Great American Songbook.

 Already a legend at age 30, by his death in 1989 he had written over 1,500 songs, the scores for 20 Broadway shows and 15 films with eight of those songs nominated for Academy Awards.

Berlin’s passion for his adopted country was evident through his music and the way he assigned royalties in order to give back to organizations like the Girl and Boy Scouts and the World War II war effort, which accrued millions.

Irving Berlin in a playful mood

Throughout his life he returned to the neighborhoods where he struggled to survive as a young boy reminding himself of the gift of opportunity that the United States had provided.

The Upper East Side duplex penthouse is listed by Jane Andrews

with Warburg Realty, Madison Avenue in New York City.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504
Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

JLL arranges equity for Tysons Corner apartment development in Northern Virginia

Rendering of planned Hanover Co. apartments at Tysons Corner
in Northern Virginia

HOUSTON, TX – JLL announced  it has arranged joint venture equity for The Hanover Company’s 412-unit apartment development with ground-floor retail in Northern Virginia’s Tysons Corner submarket.

Cortney Cole

JLL worked on behalf of The Hanover Company to arrange the joint venture equity partnership with PCCP, LLC.

The property will be situated on a 5.86-acre site at 1500 Westbranch Drive near major area employers and more than six million square feet of retail in the surrounding area.

 In addition, the transit-oriented development will provide access to the Capital Beltway, the 495 Express Lanes, the Dulles Toll Road and Metrorail’s Silver Line. 

Brian Crivella

The six-story property will encompass a mix of 343 market-rate and 69 affordable units, which will average 889 square feet, along with nearly 3,000 square feet of ground-floor retail and 596 residential parking spaces. 

The project will feature best-in-class unit finishes and common area amenities, including a professionally landscaped courtyard with resort-style pool, firepit and grilling area; clubhouse with demonstration kitchen and multimedia area equipped with a cinema with stadium seating, gaming activities and televisions; fitness center and business/conference rooms. 

Completion is expected in late 2021.

The JLL Capital Markets team representing the sponsor was led by Managing Directors Cortney Cole, Brian Crivella and Walter Coker.

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 advisory, debt placement, equity placement or a recapitalization. 

Walter Coker

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.

  

Contact: 

Olivia Hennessey
JLL Public Relations Specialist 

Phone: +1 713 852 3403

Email: Olivia.Hennessey@am.jll.com

jll.com.

www.pccpllc.com.

MC Real Estate Partners Acquires Executive Plaza Office Complex in Rockville, MD

Executive Plaza, Rockville, MD

Sue Carras

ROCKVILLE, MD  –– MC Real Estate Partners LLC (“MCRE”) and an institutional partner have acquired Executive Plaza, in Rockville, Maryland. 

Chris Hew

 This is the second office acquisition for the recently formed company founded by Andy Nathan and Steve Grant as the successor to their predecessor firms Meritage Properties and ClearRock Properties. 

Andrew (Andy) Nathan

 The 327,000 sf property, which has been significantly renovated over the past several years, sits a short walk from the dynamic Pike and Rose mixed use development and the White Flint Metro station.

“MCRE is thrilled to have made our first D.C. area acquisition so soon after our formation,"  said Nathan, managing principal of MCRE.   

"Steve and I have each been active locally for over 20 years and see Executive Plaza as an ideal addition to our portfolio. The Property has all a tenant could ask for – outstanding amenities, great light throughout and flexible floorplates – ideally located near highways, mass transit, retail and housing. 

Steve Grant

"Angelo Gordon and Monument did a wonderful job repositioning Executive Plaza and we look forward to guiding the asset through its next level transformation.” 

MCRE has retained The Polinger Company to provide on-site property management services and Bob Dickman from Avison Young as its leasing Agent.

Jim Meisel and Matt Nicholson of Jones Lang LaSalle (“JLL”) represented the seller and sourced the buyer for this transaction with mortgage brokerage services provided by JLL’s Sue Carras and Chris Hew.

CONTACT:

Kristen Murphy

Director, Public Relations

JLL Capital Markets

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 338 0990

M +1 617 543 4873

Kristen.Murphy@am.jll.com

us.jll.com/capitalmarkets