Ware Malcomb Announces Construction Completed on Loloi Rugs Showroom and Distribution Center in Atlanta, GA

Jason Dooley

ATLANTA, GA – Ware Malcomb, an award-winning international design firm, announced construction is complete on a new office, showroom and distribution center for Loloi Rugs located at 840 Cassville White Road in Cartersville, Georgia. 

Ware Malcomb provided architecture and interior design services for the project.

“This new, innovative facility for Loloi Rugs will enable this dynamic company to fulfil its potential for continued rapid growth,” said Jason Dooley, Regional Director of Ware Malcomb’s Atlanta office. 

“Our design addressed the company’s logistical needs as a warehouse and distribution center, but also captured their distinct brand and aesthetic throughout its offices and showroom. The result is a facility that enhances every aspect of their business.”  

Loloi Rugs is a leading textile brand that designs and crafts distinctive rugs, pillows, and throws for the thoughtfully layered home. 

The General Contractor for the project is Alston Construction.

CONTACTS:

Rachel Devany

VP Public Relations

 KCOMM for Ware Malcomb

Rachel@kcomm.com 

Maureen Bissonnette,

Associate Principal, Marketing, 

949.660.9128

mbissonnette@waremalcomb.com

JLL closes $11 million sale of West Hartford, CT industrial facility

Jordan Avanzato 

MORRISTOWN, NJ – JLL Capital Markets announced  it has closed the $11.2 million sale of a 111,507-square-foot, fully leased light industrial warehouse in West Hartford, Connecticut.

 JLL marketed the property on behalf of the seller, LM Real Estate Partners.  A private investor purchased the asset.

 The light industrial warehouse is situated on 7.36 acres at 141 South St. in West Hartford in an infill location with access to major roadways, including Interstates 84 and 91, which serve densely populated and affluent local and regional submarkets.

Marc Duval

Completed in 1990, the property is home to nine tenants and features a 22-foot ceiling height, 16 loading docks, 10 drive-in doors and a 20% office finish.

The property has attracted tenants by offering well-maintained, mid-size suites with flexible unit sizes, great access and a deep workforce.

The JLL Industrial Capital Markets team representing the seller was led by Directors Jordan Avanzato and Marc Duval, Senior Managing Director Jose Cruz and Associate Nicholas Stefans along with Vice Chairman Rob Kossar and Executive Vice President James Panczykowski.

 “We continue to see demand for well-positioned light industrial warehouses with a focus on transportation/logistics services,” Avanzato said. “Going forward, we see a strong tailwind behind e-commerce as demand has increased, which will further fuel the industrial sector.

Jose Cruz 

“This specific offering provided a unique blend of stability and rent growth potential with a strong and diverse tenant roster featuring a mix of both local and national corporations,” he added.

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.

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

Nicholas Stefans

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

  

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Contact

Kimberly Steele,

 JLL Senior Associate,

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

JLL completes the sale of 101 South Marengo in Pasadena, CA

Michael Leggett

LOS ANGELES, CA – JLL Capital Markets announced it has completed the sale of 101 S. Marengo, a 315,000-square-foot, Class A office asset in Pasadena, California.

JLL represented the seller and procured the buyer in this transaction.

101 S. Marengo Avenue is located on a 2.88-acre transit-oriented site just one block from the LA Metro Gold line and in close proximity to numerous freeways, including the Pasadena (110), Ventura (134) and Foothill (210) Freeways that provide east and west access to the greater Los Angeles area.

Andrew Harper

 Originally built in 1974, 101 S. Marengo was occupied for many decades by a single tenant that vacated in 2019, and now offers the potential to fully renovate the building and create one of the premier office buildings in the Tri-Cities.

Additionally, with a Walk Score® of 98, 101 S. Marengo is steps from Old Town Pasadena, a 22-block area with numerous dining, retail and entertainment outlets, as well as Paseo Colorado, an outdoor lifestyle destination with top-tier shopping, dining and entertainment featuring Archlight Cinemas, Equinox, Yard House and P.F. Changs, among others.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Michael Leggett, Managing Director Andrew Harper, Director Will Poulsen and Managing Director Patrick Church with the JLL leasing team.

Will Poulsen 

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.

 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.

Patrick Church

  

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Contacts

Andrew Harper, JLL Managing Director

CA Lic.: #01319640

Phone: +1 310 407 2139

Email: Andrew.Harper@am.jll.com

Kristen Murphy, JLL Senior Manager, Public Relations

Phone: +1 617 848 1572

Email: Kristen.Murphy@am.jll.com

JLL completes sale of 3 East Texas apartment properties

Summer Brook Apartments, Longview, TX

DALLAS, TX,  May 6, 2020 – JLL Capital Markets announced today it has closed the sale of Summer Brook, Summer Green I & II and Summer Lake, three workforce multi-housing communities totaling 884 units in the East Texas community of Longview.

 JLL marketed the properties on behalf of the seller, BSR Real Estate Investment Trust.

Summer Green Apartments I and II, Londgview, TX

Monarch Investment & Management Group purchased Summer Brook and Summer Green I & II and Saxony Capital Management (“Saxony”) purchased Summer Lake.

JLL’s debt placement team also worked on Saxony’s behalf to secure a floating-rate loan for the acquisition of Summer Lake through Freddie Mac. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Freddie Mac Optigo℠ lender.

 Summer Brook is located at 2300 Bill Owens Parkway in the desirable North Longview submarket near major retail amenities, including Longview Mall and Longview Towne Crossing.

Summer Lake Apartments, Longview, TX

The 12.25-acre property includes a mix of 208 one-, two- and three-bedroom units averaging 855 square feet. 

Summer Brook features a resort-style swimming pool, grilling/picnic area, business center, 24-hour fitness center, reserved covered parking and available private garages, and direct access to the adjacent Paul G. Boorman Running Trail.

 Summer Green I & II is situated on 19.11 acres at 110 E. Hawkins Parkway. The two-phase community features a mix of 164 one-bedroom and 260 two-bedroom units averaging 905 square feet.

Greg Toro 

Community amenities include two resort-style swimming pools, a grilling/picnic area, basketball court, 24-hour fitness center, clubhouse, children’s playground, bark park with pet washing station, and a total of 720 parking 

Summer Lake is located at 3100 McCann Road on a 12.6-acre site adjacent to Longview Mall and Loop 281. Units include a mix of studio, one- and two-bedroom floor plans averaging 852 square feet.

Summer Lake features two resort-style pools, grilling area with pergolas, stocked fishing lake, lighted sports court, clubhouse, dog park and reserved covered parking.

 The JLL Capital Markets team representing the seller included Senior Director Greg Toro and Director Steven Hahn, Jr.

 JLL’s Capital Markets debt placement team assisting Saxony with acquisition financing for Summer Lake was led by Senior Managing Director Mark Brandenburg and Associate Chad Russell.

 Steven Hahn, Jr.

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

About BSR Real Estate Investment Trust

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. 

The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary and secondary markets in the Sunbelt region of the United States.

Mark Brandenburg 

About Monarch Investment & Management Group:

Monarch Investment and Management Group ("Monarch") specializes in the acquisition and management of income-producing real estate, particularly multifamily apartment communities. 

Through these real estate investment vehicles, Monarch provides investors with the opportunity for quarterly income as well as an excellent long-term return on investment.

Unlike investment brokers or REITs (Real Estate Investment Trusts), Monarch remains part of the process all the way through conclusion. 

Chad Russell

The same people who approve the project are the ones who are actively involved in managing the property every day. 

Monarch is personally invested and highly committed to the success of the project at every phase. 

It is this unique and continuous involvement that separates Monarch from the competition and drives superior returns for its investors.

About Saxony Capital Management, LLC:

Saxony Capital Management was formed in 2016 as a boutique real estate investment and advisory firm based in Dallas, Texas. 

Saxony specializes in acquiring real estate assets that provide opportunity for value enhancement through reposition, market displacement, capital improvements and asset management expertise. Since formation, Saxony has purchased more than 2,100 units. 

Contact

Caroline Payan
Lee & Associates
(951) 276-3617
cpayan@lee-associates.com

jll.com.

Experienced broker Melissa Rose joins JLL Capital Markets in its Miami, FL office

Melissa Rose 

MIAMI, FL,  May 5, 2020 – JLL Capital Markets announced today that it has expanded its debt and equity placement team with the addition of Melissa Rose in its Miami office.

 Ms. Rose joins JLL as a Managing Director focused on securing debt and joint venture equity financing for a broad range of property types.

Over the course of her 18-year career, she has closed more than $2 billion in capital through first mortgages, mezzanine loans, bridge loans, acquisitions and preferred equity for a variety of asset types throughout the U.S.

She spent the last three years as a Managing Director at Ackman-Ziff and prior thereto she held acquisitions and in-house capital markets roles at Maxwelle Real Estate Group in Aventura, Florida; as well as Eretz Group in New York City.

 Ms. Rose graduated from the University of Miami Coral Gables with a dual major in Marketing and Political Science.  She sits on the Real property Development Advisory Board at The University of Miami School of Law and serves on the Board of Directors at CREW Miami.

 “We are ecstatic to welcome Melissa to the JLL family,” said Chris Drew, Senior Managing Director and co-head of JLL Capital Markets in Miami.

Chris Drew

“I have known her for several years, and she is an extremely accomplished capital markets advisor with a wide breath of experience capitalizing various asset classes throughout the country. 

"Her deep relationships with family offices coupled with her extensive structured finance experience, made her a natural fit for our team.” 

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

 CONTACTS:

Kristen Murphy

Senior Manager, Public Relations

JLL Capital Markets

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@am.jll.com

us.jll.com/capitalmarkets         

Brazilian Developer Obtains $58.5 Million Construction Loan for Under-Construction 18-Story, 70-Unit, $35 Million, Full-Floor Penthouse Condominium in South Miami Beach, FL

57 Ocean condominium,
under construction
in south Miami Beach, FL

MIAMI BEACH, FL – Miami Beach’s 57 Ocean, an ultra-luxury seaside condominium on the iconic Millionaire’s Row, announced  it has obtained a $58.5 million construction loan from Bank OZK, arranged by JLL Capital Markets. 

Brazilian developer Dr. José Isaac Peres

The financing will support completion of the 18-story project, which is now more than halfway complete (having reached the 11^th floor this week) and on schedule for next fall’s projected delivery date. 

 In total, 57 Ocean, which is being developed by Multiplan Real Asset Management (MultiplanREAM), will feature 70 units, including 18 flow-through Sky Residences and a $35 million, full-floor penthouse.
 

Greg Newman

To date, more than half of the units have sold to buyers from high income tax states, including New York and California, as well as high-net-worth individuals from Latin America.

 Already, MultiplanREAM, which was founded by internationally revered Brazilian developer Dr. José Isaac Peres, has invested approximately $150 million in cash into the project, ensuring that each benchmark has been met with swift precision and efficiency. 

The added financing underscores the well-documented success of the project and its strength in the market -- especially in the midst of the current COVID-19 pandemic.

Marcelo Kingston

 “57 Ocean is not only delivering a unique, healthful-living lifestyle for buyers, but also providing another reassurance for their real estate investment,” said Marcelo Kingston, Managing Partner of MultiplanREAM. 

 “We are extremely proud to work with Bank OZK, the nation’s preeminent construction lender of marquee properties.  We have confirmed that we will top out this August and deliver the building in September 2021, as we had originally promoted.”

Edgardo Defortuna

 “Bank OZK is pleased to be financing the final phases of 57 Ocean’s construction and to be working with such a reputable developer,” said Greg Newman, Managing Director of Originations at Bank OZK. 

“The strong financial capacity of MultiplanREAM, coupled with such a unique real estate asset, exemplify the high standards Bank OZK consistently seeks in its project financings.”

Bernardo Fort-Brescia 

 The JLL Capital Markets debt placement team representing MultiplanREAM included Executive Managing Director Manny de Zárraga and Director Jesse Wright.

 “We are delighted to be working with MultiplanREAM in supporting the capitalization of this outstanding product,” said de Zárraga.  “This liquidity will enable the developer to pursue new opportunities that may emerge during moments of the current global crisis while expanding its footprint in the State of Florida.”

Patricia Anastassiadis

 Adding to the momentum, MultiplanREAM and 57 Ocean’s exclusive residential brokerage, Fortune Development Sales, have reported a string of back-to-back transactions at the property. 

In just 45 days, 11 units totaling $46 million have gone under contract -- an average of 1.3 sales per week.  One of the top sales was a four-bedroom, four-and-a-half-bath residence (No. 1702) for $7.3 million to a New York-area buyer. 

Sofia Joelsson

Buyers have singled-out the project for its unparalleled location, contemporary designs, and robust assemblage of holistic “Blue Wellness” amenities and services.

 “The excitement surrounding this development continues to build among ultra-luxury homebuyers worldwide -- a testament to MultiplanREAM’s tremendous vision and subsequent success,” said Edgardo Defortuna, CEO of Fortune Development Sales. 

 “We are now looking forward to the next big milestone – 57 Ocean’s topping off later this summer.”

Manny de Zárraga

 Designed by award-winning architect Bernardo Fort-Brescia of ARQUITECTONICA, with interiors by Brazilian designer Patricia Anastassiadis of Anastassiadis Arquitetos, 57 Ocean will offer two to four-bedroom residences -- starting at $1.5 million -- with sizes ranging from 1,200 to 3,600+ square feet. 

The well-appointed homes will feature expansive terraces, each stretching up to 12 feet deep, as well as contemporary Italian kitchens and baths by Poliform. 

In addition to the 10 Sky Residences, which start at $6.95 million, 57 Ocean’s last-remaining penthouse -- designed by Sofia Joelsson of Sofia Joelsson Design -- is priced at $35 million.

Jesse Wright

 Five-star amenities will include a holistic spa with treatments by One Ocean Beauty and a wellness pavilion with a thermal suite and a relaxation and meditation area -- as well as poolside treatment cabanas, a state-of-the-art fitness center with top-of-the-line MyIsle training equipment by MyEquilibria, and an indoor Technogym fitness center.

 There will also be a children’s activity room, 24-hour concierge services, pool and beachfront concessions and attendants, direct access to the adjacent Miami Beach Walk, and more. 

 For additional information about 57 Ocean, call 305.800.5775 or visit www.57ocean.com.

CONTACTS:

Sissy DeMaria

 Caroline Underwood

 Kreps DeMaria

                                                                                                             305.663.3543

  sdemaria@krepspr.com 

  cunderwood@krepspr.com

www.fortuneintlgroup.com

jll.com.