Monday, October 5, 2020

Cadence at Crown apartments in Gaithersburg, MD acquired by JRK Property Holdings

Cadence at Crown multi-housing property located at 113 Ellington Boulevard in Gaithersburg, MD.

WASHINGTON, DC –-  JLL Capital Markets announced it has closed the sale of the 538-unit Cadence at Crown multi-housing property located at 113 Ellington Blvd. in Gaithersburg, Maryland.

 JLL represented the seller and completed the sale to the buyer, JRK Property Holdings. 

Walter Coker

 The property consists of studio, one-, two- and three-bedroom apartments averaging 863 square feet.

Unit amenities include stainless steel appliances, quartz countertops, sleek finishes, and oversized windows. The asset was also built to LEED standards with energy-efficient appliances, water-saving fixtures and overall sustainability in mind.

 Community amenities include a resort-style pool and sun deck with canopies, 24-hour fitness center, Internet cafĂ©, conference room, gaming lounge, contemporary library, font-desk concierge, pet spa, bike racks, electronic vehicle charging stations and more.

 Cadence at Crown is positioned in the I-270 Biotechnology Corridor, a 15-mile stretch of leading scientific and research organizations and also located near the I-270 Technology Corridor, which is home to prominent technology companies such as the National Institutes of Health and National Institutes if Standards and Technology.

 The JLL Capital Markets team representing the seller was Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.

Brian Crivella

JLL 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.

 About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Robert Jenkins

For further information, please visit jll.com.

 CONTACT:

Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email: Natalie.Passarelli@am.jll.com

 

Stadium Village student housing property in Minneapolis bought for $25 million

Theodora (Teddy) Leatherman

MINNEAPOLIS, MN, Oct. 5, 2020 – JLL Capital Markets announced today that it completed the $25 million property sale for the Stadium Village Apartments student housing property located at 1015 Essex St., S.E. in Minneapolis, just steps away from the University of Minnesota.

Stewart Hayes 

 JLL represented the undisclosed seller to complete the property sale to the buyer. The redevelopment opportunity is perfectly positioned on a 1.32-acre site, originally constructed in 1960.

 Stadium Village contains 121 apartments, totaling 75,000 square feet, with floorplans that include studios, one-, and two-bedroom units for students.

 For the last decade, student housing has retained steady occupancy rates of 95-100%, with a recent surge in demand for more student-centric communities. 

 Riley McChesney

Stadium Village offers the ultimate student experience, centrally positioned with walkability to campus and the university’s sports venues, more than 75 bars, restaurants and retailers, and multiple rail and bus stops for easy access to Downtown Minneapolis.

 Josh Talberg,

 JLL’s Capital Markets team representing the seller was led by Director Stewart Hayes and Senior Director Josh Talberg, along with Senior Directors Dan Linnell and Mox Gunderson, Director Scott Clifton and Teddy Leatherman and Associate Riley McChesney. 

 A leader in the sector, JLL has closed over $12.6 billion in student housing transactions since 2011.

 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.

 Dan Linnell 

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.

 About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

 Mox Gunderson

JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 Scott Clifton


For further information, please visit jll.com.


 CONTACT:

Natalie Passarelli

JLL Senior Associate

 Public Relations

Phone: +1 224 477 7307

Email: Natalie.Passarelli@am.jll.com

 


Easton & Associates Arranges Four Industrial Leases Totaling 60,000 Square Feet in September

Edward W. Easton


Doral, FL Easton & Associates, the brokerage division of The Easton Group, recently completed three recent lease deals in Miami-Dade County.

Jim Armstrong

 All Pharma LLC signed a new lease for 18,196 square feet at 14240 Palmetto Frontage Road, Miami Lakes. Easton’s Jim Armstrong and Mike Waite represented the landlord, Seagis Palmetto 14240 LLC.  Danny Cook of Cook Commercial Realty, Inc. represented the tenant.

 Bluegate Inc. leased 18,500 square feet of warehouse space at 1175 NW 159th Drive, Miami Gardens. Easton’s Armstrong and Waite represented the landlord, 1175 NW 159th DR LLC.  

 Designers Tops Inc. leased 11,425 square feet at 4725 NW 36th Avenue in Miami.  Brandon Careaga represented the landlord, Victoria’s Armoire Inc. 

 Atlantic Rack and Shelving Inc. signed a lease extension for 11,500 square feet at 5205 NW 161 Street in Miami Gardens.  Easton’s Armstrong and Waite represented the landlord, Seagis PLIP LLC.

 Mike Waite 

 “With COVID-19 restrictions becoming more reasonable and realistic, South Florida businesses are starting to pick up where they left off which is causing the industrial leasing market to pick up steam,” said Waite.

 “I only expect it to get stronger over the next couple of months as we head into the busy winter season.”

 About The Easton Group:

Edward W. Easton is founder and chairman of The Easton Group, a family-owned, boutique commercial real estate firm with over 45 years of experience and an exceptional track record.

The group is broken down into four business units consisting of commercial real estate investment, development, brokerage, and property management. 


 Brandon Careaga

 The Easton Group is headquartered at International Corporate Park in Doral, Florida.

  

 CONTACT:

Todd Templin

Executive Vice President

BoardroomPR

ttemplin@boardroompr.com

O 954-370-8999

C 954-290-0810

Web | Facebook | LinkedIn | Twitter | Instagram

www.theeastongroup.com.

 

Sunday, October 4, 2020

Tricera Capital and LNDMRK Development Acquire Walgreens-Leased Building in Miami Shores, FL

Jamie Maniscalco 

MIAMI, FL – Tricera Capital, the Miami-based real estate investment firm, and Alex Karakhanian’s LNDMRK Development teamed up to acquire a Walgreens-leased retail building in Miami Shores. The joint venture closed the off-market purchase of the 9020 Biscayne Blvd. property on Sept. 30.

Scott Sherman 

 For the venture, the $4 million acquisition is a particularly desirable long-term investment. Walgreens is signed to a long-term single-tenant lease for the 14,850-square-foot building.

Tricera and LNDMRK purchased the property at an attractive land basis, offering significant upside through future redevelopment or re-leasing the existing building.

Ben Mandell

 The property is adjacent to a Publix supermarket on a stretch of Biscayne Boulevard that generates substantial traffic.

 “We are thrilled to partner with Alex and LNDMRK once again on this new investment,” said Tricera Co-Founders and Managing Principals Scott Sherman and Ben Mandell. “This acquisition underscores our firm’s unique ability to identify and execute on off-market opportunities in urban core neighborhoods.”

 Walgreens-leased building, 9020 Biscayne Boulevard, Miami Shores, FL

 The venture obtained a $2.5 million loan from First National Bank of South Miami for the acquisition.

 Miguel Pinto and Jamie Maniscalco of APEX Capital Realty represented both the buyer and seller in the off-market transaction.

Miguel Pinto

 Tricera and LNDMRK are collaborating on several investments and developments.

 The Related Group is partnering with the companies to develop The Dorsey, a 12-story apartment building with a parking garage and nearly 95,000 square feet of office and retail space in Wynwood. The joint venture acquired the project site, a former Coca Cola plant, in September 2019.

Alex Karakhanian

 Tricera and LNDMRK are also jointly developing a luxury retail project in Miami’s Design District.

 “It is exciting to expand on our successful partnership with Tricera,” Karakhanian said. “This new acquisition adds a strong asset with in-place cash flow and long-term upside to our growing portfolio.”

   CONTACT:

Eric Kalis

Vice President

 Boardroom PR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

  www.triceracap.com

 

JLL signs CommonSpirit medical office lease in Scottsdale, AZ, expanding COVID-19 testing

 

Mari Lederman 

SCOTTSDALE, AZ – Medical office experts in the Phoenix office of JLL have completed a 9,727-square-foot, long-term lease that brings a CommonSpirit Health Reference Lab to Scottsdale, Arizona.

The lab will more than triple the COVID-19 testing capacity for CommonSpirit Health’s 137 hospitals and more than 1,000 care sites nationwide, including Dignity Health clinics and hospitals across Arizona.

 The Reference Lab is located at 19001 N. Scottsdale Rd., just north of the Loop 101. It sits on the ground floor of Ilume Innovation Center, a 317,937-square-foot, state-of-the-art medical building featuring office, wet lab and research/development space.

 Katie McIntyre

 JLL Vice Presidents Mari Lederman and Katie McIntyre represented CommonSpirit Health in the lease negotiations. Vince Femiano from Transwestern represented Ilume Innovation Center owner, Stockdale Capital Partners.

 “JLL was tasked with finding move-in ready lab space in Arizona with close access to an airport and freeways for national COVID-19 testing,” said McIntyre. “Ilume Innovation Center has all of these advantages, and that has enabled CommonSpirit to stand up the Reference Lab in a matter of weeks.”

Vince Femiano

 “Ilume Innovation Center’s infrastructure suited this project very well, and Stockdale Capital Partners worked expeditiously – along with the equipment vendors and contractor – to have the lab up and running as soon as feasibly possible,” said Lederman.

 The CommonSpirit Reference Lab has the capacity to process up to 10,000 molecular tests per day, with an expected maximum 36-hour turn time from when the test was received at the lab.

 The Illume Reference Lab opened last week and testing has begun at the facility.

About CommonSpirit Health

CommonSpirit Health is a nonprofit, Catholic health system dedicated to advancing health for all people. It was created in February 2019 through the alignment of Catholic Health Initiatives and Dignity Health.

Ilume Innovation Center, Scottsdale, AZ

CommonSpirit Health is committed to creating healthier communities, delivering exceptional patient care, and ensuring every person has access to quality health care.

With a team of approximately 150,000 employees and 25,000 physicians and advanced practice clinicians, CommonSpirit Health operates 137 hospitals and more than 1000 care sites across 21 states.

Ilume Innovation Center entrance, Scottsdale, AZ

In FY 2019, Catholic Health Initiatives and Dignity Health had combined revenues of nearly $29 billion and provided $4.45 billion in charity care, community benefit, and unreimbursed government programs.

Contact:

 Stacey Hershauer

Phone: +1 480 600 0195

Email: stacey@focusaz.com

www.jll.com.

 

Arbor Funds $177.8 Million Loans in Southeastern U.S.


                                          Alexander Kaushansky



UNIONDALE, NY– Arbor Realty Trust, Inc. (NYSE:ABR), a leading multifamily and commercial mortgage lender, closed 18 deals totaling $177.8M in the Southeastern U.S.

 

Alexander Kaushansky of Arbor’s New York City office originated the loans.

 

“Providing our clients certainty of execution while tailoring optimum terms is what we do best at Arbor,” Kaushansky said. “We take pride in our ability to service our clients’ needs on diverse loans utilizing different products.”

 

Crestview Manor Apartments in Paris, TN, received $10.5M in refinancing through the Fannie Mae Multifamily Affordable Housing program in the second quarter of 2020. The pet-friendly community consists of 52-units with one-, two- and three-bedroom floorplans.

 

Concord View Townhomes in Concord, NC, received $10.5M in refinancing through the Freddie Mac Conventional program in the second quarter of 2020. The complex offers one, two- and three-bedroom units with granite countertops and stainless steel appliances. It also features basketball and tennis courts, a business center and clubhouse.

 

The following three properties located in the Carolinas were refinanced through the Fannie Mae DUS® program:



                                    Villas at Garden Way in Rock Hill, SC

 Villas at Garden Way in Rock Hill, SC, received $6.8M in the third quarter of 2020.The 96-unit complex offers studio, one-, two- and three-bedroom floorplans, and is within walking distance to historic downtown Rock Hill. Winthrop University and Piedmont Hospital are just minutes away.

 

Crown Point at Sunset in Salisbury, NC, received $8.3M in the third quarter of 2020. Built in 2002, the 108-unit property features granite countertops, stainless steel appliances and hardwood floors. The community also has a fitness center, pool, playground and game room.

 

Crown Point Townhomes in Charlotte, NC, received $20M in the second quarter of 2020. The newly renovated community includes two-bedroom units that boast large living spaces, walk-in closets and private patios. Shopping, dining and entertainment are nearby.

 

Four additional properties in South Carolina received refinancing through the Fannie Mae Small Loan program in the third quarter of 2019:

 

Country Club Apartments in Rock Hill received $5.4M. The beautiful garden-style multifamily property offers two- and three-bedroom townhomes with modern kitchens and large bedrooms. It features a playground, basketball area and pool, and is located 30 minutes from Uptown Charlotte.

 

Fort Mill I - Bollin Circle in Fort Mill received $4.4M. The townhome community has one- and two-bedroom units with hardwood floors and features a fitness center, fire pit, playground and picnic area.  

 

Fort Mill II - Drane Circle in Fort Mill received $3.6M. The property includes one- and two-bedroom floor plans and outside living space. It is conveniently located with shopping, dining and entertainment nearby.

 

Fort Mill III - Banks Road in Fort Mill received $3.2M. The pet-friendly complex offers one- and two-bedroom garden-style townhomes with hardwood floors and central air conditioning.

 

Bridge acquisition funding was secured for the following nine additional properties:



Crown Point Townhomes in Charlotte, NC


 

Capital Square Apartments in Savannah, GA, received $15.8M during the first quarter of 2020. The complex is made up of spacious one-, two- and three-bedroom apartments with patio and balcony options, and central air conditioning. Quaint local shops, market and boutiques are nearby.

 

Edge Townhomes in Charlotte, NC, received $3.6M in the fourth quarter of 2019. The two-bedroom community features a dog park, fitness, center and swimming pool. It is conveniently located halfway between Downtown Charlotte and the University of North Carolina at Charlotte.

 

The Edge at Noda in Charlotte, NC, received $17.5M in the fourth quarter of 2019. The 208-unit property includes one- and two-bedroom upscale floorplans with views of the skyline. It offers a dog park, fitness center, pool and courtyard for residents. 

 

Sage Point Apartments and Townhomes in Charlotte, NC, received $9.6M in the fourth quarter of 2019. The 144-unit community consists of one- and two-bedrooms with hardwood floors and granite kitchen countertops. Shopping and the city bus line are nearby.

 

Doral Apartments in Charlotte, NC, received $11M in the fourth quarter of 2019. The newly updated property features one-, two- and three-bedroom options with a 24-hour fitness center, outdoor pavilion, fenced dog park and pool. It is just five minutes to Central Piedmont Community College.

 

Tryon Forest Apartments in Charlotte, NC, received $10.8M in the fourth quarter of 2019. The 169-unit complex is made up of one-, two-, and three-bedroom apartments with spacious floor plans. Local shopping is nearby.

 

Bradford Commons in Charlotte, NC, received $5.6M in the fourth quarter of 2019. The garden-style property offers one- and two-bedroom units with spacious living rooms, walk-in closets, a community pool and pet park. Evergreen Nature preserve is a short driving distance away.  

 

Ponderosa Apartments in Charlotte, NC, received $5.7M in the fourth quarter of 2019. The property features one- and two-bedroom units with walk-in closets and a new breakfast/coffee bar. Local shopping is within walking distance.

 

Forestbrook and Sunset Village in Charlotte, NC, received $25.5M in the third quarter of 2019. These two properties offer a total of 360-units comprised one-,two-, and three-bedrooms and is pet-friendly. Downtown Charlotte is just minutes away.

 Contact:

 Bina Handa

Tel: 516.506.4229

bhanda@arbor.com