Hearst-Davies Estate in Beverly Hills Listed at $125 Million

Built in 1927, Beverly House features 18 bedrooms, 25 bathrooms, 12 fireplaces, two swimming pools, exquisite formal water gardens and six separate structures.

Photo credit: The Agency       Source: www.theagencyre.com

BEVERLY HILLS, CA -- As Southern California’s ultra-luxury housing market has gone bananas this year, mega-mansions that have been sitting on the fence for the last few years are again selling for unfathomable amounts - making it a good time to list the historic Beverly House.

William Randolph Hearst

As the former estate of newspaper magnate William Randolph Hearst and actress Marion Davies, it became memorable in its own right in the films The Godfather and The Bodyguard.

Marion Davies

The epitome of Old World elegance, Hollywood history and drama, it has recently been listed at $125 million, according to TopTenRealEstateDeals.com.

Petra Stunt

Proving that the luxury market is quite well in Los Angeles, the fabulous Chartwell estate, where the Beverly Hillbillies intro was filmed, has sold for $150 million.

Aaron Spelling

 The former estate of deceased television-producer Aaron Spelling, previously purchased by racing heiress Petra Stunt in 2011 for $85 million just sold for $120 million.

Jeff Bezos

 But the winner of the most expensive purchase so far is Jeff Bezos, who just closed the deal on the home of David Geffen for an ungodly price of $165 million.

David Geffen 

 With one more mansion on the market in Bel Air stratosphere-priced at $225 million, the elegant Beverly House’s price tag of $125 million might be a bargain.

Jacqueline and John F. Kennedy stayed at the Beverly House in 1953 as one of the stops on their three-week honeymoon; it was also the West Coast presidential election headquarters for JFK.

Jacqueline and John F. Kennedy

 The home features 18 bedrooms, 25 bathrooms, 12 fireplaces, two swimming pools, exquisite formal water gardens and six separate structures.

Gordon Kaufmann

Designed by Gordon Kaufmann, the architect behind the Hoover Dam and some of the most important estates in the Beverly Hills area, the Beverly House stands as an emblem of Hollywood’s Golden Era.

Mauricio Umansky

Built in 1927, the estate is well known in the architectural world for its H-form design characterized by long colonnades, wide balconies, arched floor-to-ceiling windows and its spaciousness:

---a stunning two-story library with hand-carved paneling and a wraparound walkway; a formal living room with its 22-foot-high, hand-painted arched ceiling;

 Santiago Arana 

 ---a state-of-the-art spa; and a billiards room with herringbone parquet floors and an intricately designed ceiling and carved fireplace - both from the Hearst Castle in San Simeon.

 The main-level hallway is a staggering 82 feet, seven inches up to the 32-foot billiard room, which is open to the main hallway, for a total of 114 feet and 7 inches visible upon walking into the entry.

The grand upstairs hallway is more than 102 feet long and features a 40-foot wide, nearly 9-foot-tall Dennis Abbe mural. A substantial addition was made in the 1990s expanding the size of the building as seen in The Godfather.

Located only three blocks from Sunset Boulevard and the Beverly Hills Hotel, the Beverly House is situated on approximately five acres of landscaped flat land in the heart of Beverly Hills.

It offers extreme privacy and security with four security gates and several perimeter housing structures.

 The listing agents are Mauricio Umansky and Santiago Arana of The Agency, Beverly Hills.

CONTACT:

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

Dream Finders Homes Started Construction on Model with Bonus at Ardmore Reserve near Lake Minneola, FL

The 2,945-square-foot Arlington with Bonus model at 1300 Blarney Street in Minneola, FL features a spacious second-story bonus room and a three-car garage

MINNEOLA, FL – Dream Finders Homes recently started construction on the Arlington, a four-bedroom, four-bath model planned for completion by this summer at the Ardmore Reserve community in the peaceful rolling hills of Lake County.

The 2,945-square-foot Arlington with Bonus model – at 1300 Blarney St. in Minneola – features a spacious second-story bonus room and a three-car garage, according to Gerry Boeneman, president of Dream Finders Homes’ Central Florida division.

“Prospective buyers will love the open floor plan of the Arlington with Bonus,” he said, “along with the number of upgrades and beautiful design features we offer to customize the homes.”

Gerry Boeneman

Four- to eight-bedroom homes are available at Ardmore Reserve with prices starting at $339,900. 

This community offers floor plans that range from 2,510 to more than 5,000 square feet on oversized 70-foot homesites.

Boeneman said only 30 homes will be built in the development, giving it a sense of real community.

“With so few residences, buyers will be able to get to know their neighbors as they enjoy the amenities like the covered playground and picnic areas, the spectacular sunsets on Lake Minneola and other nature views,” he said. 

The community is located in a top-rated school district, and is close to the scenic seven-mile South Lake Trail, downtown Winter Garden and main arterial highways (US 27, Hwy 50, Turnpike) providing easy access to dining, shopping and theme parks.

For more information about the Arlington and other models offered at Ardmore Reserve, please call 888-208-0483.

CONTACTS:

Gerry Boeneman, division president, Dream Finders Homes, 

888-214-1164 or Gerry.Boeneman@dreamfindershomes.com

Jassy Friddle, director of marketing, Dream Finders Homes, 

888-214-1164 or Jassy.Friddle@dreamfindershomes.com

Beth Payan, Larry Vershel Communications, 

407-644-4142, 407-461-3781 or beth@larryvershel.com

Arbor Funds Five Fannie Mae Loans in Alabama, Arkansas and California

Jonathan Chaim 

Two Arkansas housing properties, totaling 111 units, receive $5.4 million in acquisition funding 

Jefferson Court Apartments
 Pine Bluff, AR

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a Fannie Mae portfolio in Arkansas. 

The two housing properties, totaling 111 units, received $5.4M in acquisition funding. The loans have 12-year terms, one year of interest only payments, followed by a 30-year amortization period.

Jonathan Chaim of Arbor’s New York City office originated the loans.

“At Arbor, relationships are the foundation of our business,” Chaim said. “Through our trusted partnership with Fannie Mae, we were able to secure the best customized solution for each of these properties to align with our borrower’s needs.”   

Country Estates Manor White Hall, AR

Jefferson Court Apartments, located in Pine Bluff, Arkansas, received $2.9M through the Fannie Mae Small Green Rewards Loan program. 

The 63-unit multifamily property was built in 1971 and includes one- and two-bedroom apartments. It features a pavilion building with storage rooms, a central laundry facility, picnic area and underground parking for residents.

Country Estates Manor, located in White Hall, Arkansas, received $2.5M in financing through the Fannie Mae Small Loan program. The 48-unit complex was built in 1999. The property includes a swimming pool and a clubhouse.

Matt Norman

Homewood, AL Multifamily Property Receives 
$15.2 MillionFannie Mae DUS® Loan

UNIONDALE, NY -- Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently financed a Fannie Mae DUS® loan in Homewood, AL. The multifamily property received $15.2M in cash-out refinancing with a 12-year fixed rate.

 Matt Norman of Arbor’s Bloomington, Indiana, office originated the loan. 

 "Arbor provided for the refinance of a terminating Fannie Mae loan, which afforded the sponsor an opportunity to secure additional funds for future improvements to the property, while maintaining its place as a workforce housing leader in the submarket," Norman said.

The Crescent at Lakeshore Apartments
 Homewood, AL,

 The Crescent at Lakeshore Apartments in Homewood, AL, was built in 1967 and renovated in 2013. The 220-unit garden style property includes spacious modern living areas, crown moldings and walk-in closets.

 It also features a fitness center, swimming pool and playground. Retail shopping and the Birmingham Zoo are nearby.

$19M Fannie Mae Streamlined Rate Lock Loan Completed in

Santa Monica, CA

UNIONDALE, NY – Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, recently funded a $19M Fannie Mae Streamlined Rate Lock (SRL) loan in Santa Monica, CA. 

Garth Davis

The refinance cash-out deal for this 34-unit luxury apartment complex features 10 years full term interest only.

Garth Davis of Arbor’s San Francisco office originated the deal.

“This deal was unique in several ways, but mainly that it is a brand new build in Santa Monica, which is quite rare,” said Davis. “We were able to accomplish this transaction swiftly by negotiating with our long-term Fannie Mae partners to replace the borrower’s construction loan with an attractive permanent solution.”

Pico Eleven Luxury Residences
Santa Monica, CA

Built in 2019, Pico Eleven Luxury Residences offer amenities such as spacious, brightly lit open floor plans and top-of-the-line appliances. 

Outdoor features include large private decks and three ocean view community lounge areas with barbecues, firepits and WiFi access.

 The complex is also conveniently located near shopping venues, local parks and beaches, as well as the Santa Monica Pier Aquarium.

Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com

Berger Commercial Realty Brokers Five-Year, 4,760-SF Lease Deal with Bank OZK at 550 Building in Downtown Fort Lauderdale, FL

The seven-story building at 550 South Andrews Avenue is adjacent to the new County Courthouse and features six floors of office space, ground floor restaurant patio space, and storefront retail space in the SOLO District of Downtown Fort Lauderdale, FL

Joseph Byrnes 

FORT LAUDERDALE, FL (March 11, 2020) – Bank OZK has become the latest tenant in Downtown Fort Lauderdale’s new 550 Building with a five-year lease for 4,760 sq. ft. of ground floor bank space brokered by Berger Commercial Realty.

“The 550 Building location rose to the top the list for Bank OZK as they recognized the value of this prime location in the burgeoning SOLO District of Downtown Fort Lauderdale,” Berger Senior Vice President Joseph Byrnes explained. 

 “Its building lobby position affords Bank OZK high exposure, easy access, and the luxury of having the highest parking ratio available in Downtown Fort Lauderdale with a 634-car parking garage.”

 Jonathan Thiel 

Byrnes, together with Berger Senior Sales Associate Jonathan Thiel and Sales Associate John Forman, handled the transaction for the 550 Building landlord, Blackhawk Properties & Investments.   

Led by Clinton Casey and Bill Rotella, The Rotella Group represented Bank OZK. 

The seven-story building at 550 S. Andrews Avenue is adjacent to the new County Courthouse and features six floors of office space, ground floor restaurant patio space, and storefront retail space.  

For more information about Berger Commercial Realty’s leasing services, please call 954-358-0900.

John Forman

About Berger Commercial Realty/CORFAC International:

Berger Commercial Realty/CORFAC International is a regional, full service commercial real estate firm based in South Florida. 

Independent and privately owned since its founding in 1998, the firm is a member of CORFAC International, a global network of independently owned commercial real estate brokerage firms.

 The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more. For more information, visit 

Clinton Casey

About CORFAC International:

CORFAC International (Corporate Facility Advisors) is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail real estate leasing and investment sales, multifamily property acquisitions and dispositions, property management and corporate services. 

In association with global affiliates, CORFAC International has 60 North American offices and 20 offices in global markets.

Bill Rotella

Founded in 1989, CORFAC firms completed more than 11,000 lease and sales transactions totaling approximately 500 million square feet of space valued in excess of $8.5 billion in 2015.

 For more information on the CORFAC network, please call 224.257.4400 or visit www.corfac.com.

CONTACT:

Jennifer J.H. Pierce

 Account Director

Pierson Grant Public Relations

6451 N. Federal Highway   Suite 1200

Fort Lauderdale, FL   33308

T:  (954) 776-1999, ext. 232

E:  jpierce@piersongrant.com

www.bergercommercial.com.

Alter Launches $750 Million, 641-Acre, 1.4 Million-SF Cornerstone Mixed-Use Development for Medline's Suburban Chicago Campus in Grayslake, IL

Michael Alter

CHICAGO, IL – Alter (www.altergroup.com), one of the nation’s premier commercial real estate developers, announces the launch of Cornerstone, a $750 million, 641-acre mixed-use development at Peterson Road and Route 83 in Northwest suburban Grayslake, Illinois a near suburb of Chicago. 

The park’s inaugural facility will be a LEED-certified 1,400,000 SF facility for the medical supply company, Medline Industries, Inc. 

At completion, it will be the 5th largest warehouse in the world.

“This innovative development in central Lake County will be one of the largest master-planned projects in the United States,” said Michael Alter, President of Alter.  “The area has become a hub for biotech, pharmaceutical, and packaged goods industries. 

Grayslake Mayor
 Rhett Taylor

"The development will leverage the growth of Northern Cook and Lake Counties to be a powerful revenue generator for local and county government and schools throughout the life of the development. 

Cornerstone will enhance the quality of life, protect the environment and mitigate road congestion in central Lake County.”

The mixed-use development will include approximately 3,000,000 SF of light industrial, research-and-development and office space.  

Cornerstone will be built over 12 years in multiple phases in cooperation with the Village of Grayslake, including utility extensions and road enhancements.  

The initial phase will be a 310-acre parcel north of Peterson Road, which will be developed over the next five years.

Medline, headquartered in Northfield, plans to relocate its Libertyville operations to the new facility. 

In addition, the new facility will add 250 more jobs to the operations. The building will be completed in early 2021.

“Cornerstone will allow for opportunities that add significant benefits to the local economy such as jobs and growth in the local property tax base for schools and other taxing districts,” said Grayslake Mayor Rhett Taylor.

 Kevin Considine

“This is a great win for Lake County and Illinois,” said KevinConsidine, 

President & CEO of Lake County Partners. 

“Medline chose Cornerstone over major parks in Indiana and Wisconsin because of the quality of our labor force, our lower taxes, and our transportation infrastructure. 

"As I see it, the planning that has gone into this project will pay huge dividends to Lake County, especially Grayslake, Mundelein, Libertyville, and the Round Lake communities,” Considine said.  

“It will create 9,000 high-quality jobs close to where people live, and it will do so with minimal impact.  Traffic impact outside of the actual development will be mitigated, thanks to Cornerstone’s self-contained nature and its proximity to existing population centers and planned road improvements.” 

William A. Alter 

Winner of NAIOP’s National Developer of the Year, Alter is a national corporate real estate development firm of office, industrial, and healthcare facilities.  

Founded by William A. Alter in 1955, the company has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users.  This year, Alter has 2,500,000 SF of space under development in national markets.  

Contacts:  

 Tom Silva, for Alter

(847) 778-9628

KAROLYN RAPHAEL president karolyn@wingermarketing.com 312.494.0422      www.altergroup.com.