Beacon Real Estate Group Closes $53.2 Million Multifamily Acquisition in Atlanta Area

53 West is a 266-unit, garden-style community
 located at 1000 Woodacres Road
in the affluent Gainesville/Hall County submarket 

Richard Kulick 

MIAMI, FL and ATLANTA, GA – Commercial real estate firm Beacon Real Estate Group continued its acquisition push in the Atlanta market with the $53.2 million purchase of 53 West apartment community in Gainesville, GA.

 This month, Beacon has closed on two significant multifamily investments totaling $100 million in the area.

The 53 West transaction closed on Aug. 25.

Completed in 2019, 53 West is a 266-unit, garden-style community located at 1000 Woodacres Road in the affluent Gainesville/Hall County submarket – one of Georgia’s fastest-growing areas. The Class A community is 99% occupied.

“This is an exciting acquisition for us - 53 West is a wonderful addition to our portfolio of multifamily assets,” Beacon Managing Partner Richard Kulick said.

“Tenant demand has been incredible, as many successful professionals who work in the urban core are relocating to high-quality suburban communities like 53 West. It is also one of the only Class A options within Hall County.”

The Gainesville/Hall County submarket is a vital economic anchor for the northeast Atlanta metro area.

 It is home to more than 350 companies and manufacturing firms, with more than 100 new and expanded businesses adding 5,500 jobs and $1.2 billion in capital investment since 2015.

Gainesville/Hall County has been particularly resilient during the COVID-19 pandemic, losing only 7.3% of jobs as of May 2020. That ranks 17th out of 338 U.S. MSA’s. The national average was 13.2% through May.

Robert Stickel 

At 53 West, minimal rent deferment has been needed to date. That underscores the submarket’s strong demographics and ability to preserve jobs amid challenging broader conditions. 

Beacon obtained acquisition financing for 53 West from Freddie Mac and Berkadia. Mitch Sinberg and Scott Wadler of Berkadia arranged the financing.

Cushman & Wakefield’s Robert Stickel and Alex Brown marketed 53 West on behalf of seller Varden Capital Properties and Tellus Partners.

Earlier this month, Beacon closed on the $46.1 million acquisition of the 168-unit Domain at Cedar Creek and 164-unit Gateway at Cedar Brook in the Decatur submarket of Atlanta.

Alex Brown 

Beacon continues to aggressively pursue multifamily acquisitions in the market.

“We study the fundamentals of each potential acquisition and closely examine the surrounding area,” Beacon Managing Partner Carlos E. Imery said.

 “Our team does not overreact to short-term trends. The 53 West opportunity checked every possible box for us.”

Beacon owns more than 6,000 multifamily units in the Southeast U.S., with a strong focus on secondary markets. 

The company’s portfolio also includes nearly 1 million square feet of office and retail properties in the region.

 Contacts:

Eric Kalis

 BoardroomPR
ekalis@boardroompr.com

954-370-8999 

Daniel Benjamin

Senior Account Executive

 BoardroomPR

dbenjamin@boardroompr.com

O 954-370-8999

C 954-618-8287

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

www.bcnreg.com.

EagleBridge Capital Arranges $1.6 Million Financing For Salem, MA Bank Building

Salem Bank Building, 253 Essex Street, Downtown Salem, MA

Boston, MA -- EagleBridge Capital, has arranged mortgage financing in the amount of $1,600,000 for the bank building located in Salem, Massachusetts.

The mortgage financing was arranged by EagleBridge principal Ted. M. Sidel who stated that the loan was provided by a leading bridge lender.

The building is located at 253 Essex Street in the heart of Downtown Salem. 

The Classical Revival style brick and steel bank building was originally constructed in 1910 by the Merchants National Bank.  The area features a number of period buildings constructed in the 18^th, 19, and early 20^th centuries. 

 Ted. M. Sidel 

 Essex Street and the nearby surrounding area is home to a variety of retail, restaurant, residential, and office properties as well as historic tourist attractions.  The acclaimed Essex Peabody Museum is also located on Essex Street within a short walking distance.

EagleBridge Capital is a Boston-based mortgage banking firm specializing in arranging debt and equity financing as well as joint ventures for apartment, industrial, office, r & d, and single tenant buildings, shopping centers, hotels, condominiums, and mixed use properties as well as special purpose buildings. 

 EagleBridge Capital is a member of Commercial Real Estate Capital Advisors (CRECA) a national association of independent commercial mortgage banking firms.

 CONTACT:

Stanley J. Sidel

Senior Advisor

EagleBridge Capital

One Boston Place,  Suite 2600

Boston, MA 02108

Tel: 617-292-7177  Ext.12

Fax: 617-292-7575

ssidel@eaglebridgecapital.com

ONE BOSTON PLACE 

  BOSTON, MA 02108   

 TEL: 617.292.7177   FAX: 617.292.7575

                                     www.eaglebridgecapital.com

Ware Malcomb Promotes Sergio Valentini to Director, Architecture

Sergio Valentini

LOS ANGELES, CA– Ware Malcomb, an award-winning international design firm, today announced Sergio Valentini has been promoted to Director, Architecture in the Los Angeles office.

 In this role, Valentini leads the growth and management of the Architecture Studio and oversees all architecture projects for the firm’s Los Angeles office.

A multifaceted design professional, Valentini’s background includes team and project management of complex projects at different scales in a collaborative, creative environment.

His understanding of different markets and strong technical background influence his design approach delivering the highest standard of client service while creating spaces that are sustainable, site specific and enhance the human experience. 

Radwan Madani

“Since joining Ware Malcomb last year, Sergio has successfully taken over the daily management of the Architecture Studio and spearheaded a diverse array of new work including residential adaptive reuse, creative office, entertainment, and industrial projects,” said Radwan Madani, Principal of Ware Malcomb’s Los Angeles office.

 “Sergio’s leadership, work ethic and solid design and technical expertise have established him as a strong leader within our office and among our industry partners. We look forward to his continued contributions and leadership.”

Valentini joined Ware Malcomb in 2019 as Studio Manager, Architecture in the Los Angeles office. Previously he worked at major firms in London, Chicago and Los Angeles.

Valentini brings over 17 years of architecture and design experience to the Ware Malcomb team, including international and domestic projects in high-rise office, mixed-use, entertainment, aviation, residential, and hospitality sectors. 

Valentini holds a Master of Architecture degree from Politecnico di Bari in Bari, Italy. He has been active in industry associations such as the Council on Tall Buildings and Urban Habitat (CTBUH) and is currently Chair of the Los Angeles chapter of the Royal Institute of British Architects (RIBA). 

.

CONTACTS:

Rachel Devany

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

youtube.com/waremalcomb

Prime 1-acre high-rise development site for sale in Atlanta’s Urban Core

The site, at 323 Spring Street, totals just under one acre at Spring (Ted Turner Drive) between West Peachtree Place and Simpson Street with frontage on all three streets

ATLANTA, GA – Drapac Capital Partners has hired commercial real estate firm JLL Capital Markets to market its property located at 323 Spring St. in Atlanta. The site is in the northern section of Downtown Atlanta set among premier high-rise office and mixed-use towers. 

 Scott Cullen

 With zoning that includes Atlanta’s most dense development rights, the property offers a rare opportunity to develop a true mixed-use tower in the heart of Atlanta’s rapidly developing urban core.

The site totals just under one acre at Spring (Ted Turner Drive) between West Peachtree Place and Simpson Street with frontage on all three streets.

Currently utilized as a commercial parking operation, the site provides a solid income stream allowing flexibility on development timing.

Mark Lindenbaum 

 Located within the Downtown Atlanta zoning district, the property allows for a significantly dense development within the existing zoning ordinance with generous FAR and programmatic flexibility allowing for a mix of potential uses.

The site is one block from the mixed-use Allen Plaza project and one block from Atlanta’s museum campus, including the World of Coca-Cola, the Center for Civil and Human Rights, the Georgia Aquarium and Centennial Olympic Park.

The proposed Stitch project is two blocks away and will create a seamless connection for pedestrians and alternative transportation options connecting to the Civic Center MARTA station, as well as Midtown and Downtown.

Possible uses for the site include dense residential, office, hospitality and student housing options.

Allen Plaza

 Scott Cullen and Mark Lindenbaum of JLL’s Capital Markets group will oversee the marketing, developer selection and sales process.

The JLL team has recently brokered other dense development sites in the area, including the MARTA North Avenue Station; 693 Peachtree Street, now the site of the award-winning lilli Midtown; Juniper & 5th, currently being developed for a high-rise residential project by StreetLights Residential; and 505 Courtland Street, planned for a residential tower by Woodfield Development.

 “As growth continues in Atlanta’s urban core, development patterns are leading to the northern part of Downtown,” Cullen said.

The World of Coca-Cola

“The property sits at the nexus of those growth patterns, including the increased development in the southern portion of Midtown and SoNo (south of North Avenue), and the growth of the heart of Downtown.

 Moreover, the dwindling supply of quality dense development sites makes this a rare opportunity for purchase.”  

 Downtown Atlanta is in the midst of a renaissance, with major development projects occurring at the Gulch, South Downtown, Fairlie-Poplar and SoNo.

 Georgia Aquarium

Almost $10 billion worth of development projects have been developed or announced in the past five years, including 8,000 residential units, 4,000 hotel rooms and 14 million square feet of commercial space. 

 “We see the northern section of Downtown Atlanta as the logical place for continued densification of Atlanta’s core, with tremendous amenities, new development projects in the pipeline and the future Stitch project,” Lindenbaum added.

 “The existing street grid and accessibility to the I-75/85 connector make this a strategic location for a dense, mixed-use development project.”

 More information is available at www.323Spring.com.  

For more news, videos and research resources on JLL, please visit our newsroom.

 CONTACT:

 
 Kristen Murphy,

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

Bank OZK provides $21 million construction loan for Chapel Hill, NC development

 Gwendolyn Harrison

CHARLOTTE, NC – JLL Capital Markets announced it has arranged a $21 million construction loan for the development of The Gwendolyn, a four-story office property totaling 106,000 square feet in Chapel Hill, North Carolina. 

JLL worked on behalf of the borrower, Grubb Properties, to secure the loan through Bank OZK.  

The Gwendolyn is part of the first phase of the Glen Lennox redevelopment, a 70-acre planned community that was completed in the 1950s as the center of living, shopping and industry for Chapel Hill residents. 

 Clay Grubb

 Grubb Properties is revitalizing the community through modern design concepts, tasteful architecture and a network of connected green spaces that will foster increased pedestrian and bicycle connectivity to the retail, office and residential options at Glen Lennox.

“Our motto at Grubb Properties is ‘People Who Care, Places That Matter’ and the evolution of Glen Lennox reflects a purposeful effort to honor the legacy of individuals who have contributed to the greater good of the community, the university, our state and the broader society,” Clay Grubb, CEO, Grubb Properties noted.

“The Gwendolyn is named after Gwendolyn Harrison, the first African-American woman to attend the University of North Carolina in 1951.

"I admire her accomplishments and determination to never give up, paving the way for others to follow suit. We hope by paying homage to these strong women through our buildings we will spark curious conversations about who these individuals were and inspire the next generation of diverse trailblazers and change-seekers.”

Hal Kempson

Scheduled for completion later this year, The Gwendolyn is the first-ever Class A office project in Glen Lennox.

The property will offer 25,000-square-foot floorplates in a LEED® certified building, on-site property management, a terrace café on the ground floor, a fitness center with showers and locker rooms, indoor bike racks and on-site parking for 432 vehicles.

The Gwendolyn is within close proximity to some of the Triangle Area’s largest economic drivers, including Downtown Chapel Hill, Downtown Durham, Research Triangle Park and Raleigh-Durham International Airport.

Additionally, the property benefits from a highly educated workforce due to the 12 local colleges and universities situated nearby and has immediate connectivity to the greater Triangle region via all the MSAs’ primary thoroughfares.

The JLL debt placement team leading the financing efforts included Senior Managing Director Hal Kempson and Director John Gavigan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 John Gavigan

 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 our newsroom.

 CONTACT:

 
 Kristen Murphy,

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

www.grubbproperties.com

Falcone Group Hires Anthony Juliano as Chief Investment Officer

  

Anthony Juliano

  

BOCA RATON, FL—The Falcone Group, led by mega-developer Art Falcone, has announced that Anthony Juliano has been hired as Chief Investment Officer.  

In his new role, Juliano will be responsible for working closely with Falcone to assess real estate acquisitions and dispositions, capital markets strategy, as well as assessing how and where the Falcone Group deploys capital across the country.

Juliano most recently was the Co-Founder and Principal of The Perennial Companies, a privately held investment management firm that provided investment management and advisory services to Dubai Group, a UAE-based sovereign wealth vehicle, as well as US investors and operators.  

Art Falcone

Since 2006, he was directly responsible for global equity investment originations and investment management for Dubai Group consisting of $3.8B in global real estate holdings across all asset classes. 

 Juliano has been a trusted investment professional on behalf of Dubai Group by achieving superior performance through some of the most severe global economic cycles.

    

Juliano’s career started on Wall Street with the law firm of Thacher Proffitt & Wood where he specialized in real estate capital markets transactions.  He has also worked at GE Capital Real Estate and with Silverpeak Real Estate Partners. 

 CONTACT:

Laura Burns

Vice President

 BoardroomPR

lburns@boardroompr.com 

O 954-370-8999 

C 617-921-5969

Web | Facebook | LinkedIn | Twitter | Instagram

falconegroup.info

Tauro Capital Advisors Secures $50 Million in Loan Facilities for Three National Triple-Net-Lease Developers

LOS ANGELES, CA — Tauro Capital Advisors, Inc., a fully integrated financial services company with a diverse background in all aspects of commercial real estate, has secured a total of $50 million in revolving debt facilities that will enable Single-Tenant-Triple-Net-Leased developers to expand their portfolios through new site acquisitions and development.  

Stephen Stein, Managing Partner and Tony Festa, Director, Capital Advisor at Tauro Capital Advisors, Inc. worked together to arrange the financings.  

Stephen Stein

According to Festa, there has been an increase in demand for NNN properties regardless of the current environment thus fueling the accelerated pace of NNN development.  

“Single-tenant triple-net-leased product has continued to emerge as a stable asset class of choice for many investors across the country,” explains Festa.

“The industry saw a similar trend out of the 2008 downturn and throughout the last cycle, when single-tenant net-leased properties continued to perform and emerged from the recession relatively unscathed and resistant to market conditions. "

Today, we are seeing a similar shift as an increasing number of investors turn to NNN product rather than more management-intensive alternatives.”  

Tony Festa

As the leader and most active intermediary of financing in the NNN sector nationally, the three most recent facilities arranged by Tauro Capital Advisors, Inc. include:  

$25 Million Facility arranged on behalf of a local developer in Santa Monica, CA, who plans to develop additional NNN properties including national credit tenants 7-Eleven, Starbucks, Dutch Bros. Coffee and Chick-Fil-A.  

•  
• $15 Million Facility arranged on behalf of a western developer who will use the facility for NNN developments for Circle K, O’Reilly’s, AutoZone, Starbucks amongst other national credit tenants.
   
• $10 Million Facility arranged on behalf of a private developer in Northern California to fund future development for a variety of major tenants throughout California including Starbucks, Grocery Outlet, 7-Eleven.  
  All three facilities were secured through private lenders and debt funds offering 100% Loan-to-Cost debt facilities.
•  
• This provides increased liquidity for developers by freeing up otherwise tied up equity allowing them to pursue more opportunities without sharing any profit participation.

•  The use of funds includes reimbursement of all pursuit costs, leasing commissions, and due diligence, as well as land acquisition, financing and construction costs, and a development fee if desired.
•  
•  Tauro’s lending sources can provide single facilities of up to $100 million.  Tauro has arranged other facilities for developers of Chase Bank, ALDI, Dunkin Donuts, Smart & Final and other national credit tenants.  
• 
  
• “While lenders are being understandably cautious, the ability to secure large facilities like these in the current market climate speaks to Tauro’s strength as a financial intermediary and its deep knowledge of this product type,” says Festa.
•  
• “While most construction financing has dried up, our firm continues to source funding that aligns with our clients’ needs. This is largely because we are actively nurturing our capital relationships, so we always know where and how to access capital on behalf of our clients.”  
  
  Tauro’s operational platform includes weekly lender presentations that keeps the entire firm up to date on a vast network of lenders’ specific qualifiers and areas of focus.  
  
  “By knowing what each lender is seeking, we are better able to secure terms that benefit both lenders and borrowers,” says Festa.
•  
•  “In this case, the $50 million in facilities will enable these three developers to acquire parcels with certainty, ramp up development, make faster decisions, and reduce long-term costs while moving their business plans forward.”
• 
  

CONTACTS:

Micaela Fehrenbach/Lexi Astfalk  

Brower Group  

(949) 438-6262  

mfehrenbach@brower-group.com