Greystar picks up pair of multi-housing assets in Charlotte, NC MSA

Andrea Howard

.

Andy Scott 

                                                                     CHARLOTTE, NC – JLL Capital Markets announced it has closed the sale of Barrington Place and Waterlynn Ridge, Class A multi-housing communities totaling 660 units in the Charlotte, North Carolina MSA.

 JLL marketed the property on behalf of the seller, Waypoint Real Estate Investments, and procured the buyer, Greystar.

 Barrington Place is located at 2410 Allerton Way in the University City submarket of Charlotte, home to major business parks University Research Park, Innovation Park, and University Executive Park, and over 11 million total square feet of office and 75,000 jobs.

 Barrington Place, 2410 Allerton Way, University City submarket,
Charlotte, NC

The UNC system’s fastest growing campus UNC-Charlotte, which produces 6,000 graduates annually with engineering, tech, and health sciences concentrations is 5 minutes from the property.

Cory Fowler 

Additionally, North Carolina’s largest ever corporate incentives relocation will be within 10 minutes when Centene (NYSE: CNC) opens its 6,000+ job mega-campus in 2022.

 Waterlynn Ridge is situated 25 miles north of Charlotte in the Lake Norman community of Mooresville. Located at 123 Waterlynn Ridge Road in a primarily residential area, the property is minutes from Lowe’s Companies (NYSE: LOW) 4,000+ job corporate headquarters and the Lake Norman Regional Medical Center.

The property has convenient access to the newly completed Interstate 77 express lanes that have reduced commute times into Uptown Charlotte and the University City submarket tremendously.

Waterlynn Ridge, 123 Waterlynn Ridge Road, situated 25 miles north of Charlotte in the Lake Norman community of Mooresville.

The JLL Capital Markets team representing the seller was led by Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn. Financing efforts were led by Andy Scott and Cory Fowler of JLL.

 “The successful sale of Barrington Place and Waterlynn Ridge, during an unprecedented time of market uncertainty given the global pandemic, speaks to the confidence investors have in the Charlotte growth story,” said Howard.

John Currin

 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 sales 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.

About Waypoint Real Estate Investments

Waypoint is a vertically integrated real estate investment firm specializing in rental housing. 

 Allan Lynch

With four offices nationwide, the company acquires and develops multifamily rental properties throughout the United States.

 Founded in 2011, Waypoint’s total real estate investment activity exceeds $4 billion across more than 28,000 units.

 To learn more, visit waypointrei.com.

 About Greystar

Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. 

Headquartered in Charleston, South Carolina, Greystar manages and operates over an estimated $200 billion+ of real estate in nearly 200 markets globally including offices throughout the United States, United Kingdom, Europe, Latin America, and the Asia-Pacific region. 

Caylor Mark 

Greystar is the largest operator of apartments in the United States, managing approximately 693,000 units/beds, and has a robust institutional investment management platform with approximately $35.5 billion of assets under management, including over $15 billion of assets under development. 

Greystar was founded by Bob Faith in 1993 with the intent to become a provider of world-class service in the rental residential real estate business. To learn more, visit greystar.com.

 About JLL

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

Jeff Glenn

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 in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. 

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

 

CONTACT:

Kristen Murphy

Senior Manager

 Public Relations, Investor Services JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

 

JLL Capital Markets Nashville expands debt and equity practice; Anthony Magnano joins the firm as a Director focused on debt and equity placements

 

Anthony Magnano

ATLANTA, GA – JLL Capital Markets announced Anthony Magnano has joined JLL Capital Markets as a Director in the firm’s Nashville office. Mr. Magnano will be responsible for sourcing debt and equity placement opportunities in the Nashville area and greater Southeast market. 

“We’re excited to have Anthony as a part of the team,” said Ed Coco, senior managing director and co-head of JLL’s Atlanta Capital Markets group who also oversees the Nashville market.

Ed Coco

 “Anthony brings with him a solid background on the debt side with experience in distressed assets and middle-market transactions, both of which are in demand in today’s current environment.”

 Mr. Magnano has more than 10 years of experience in the commercial real estate financing sector. 

CONTACT:

Kristen Murphy

Senior Manager

 Public Relations, Investor Services JLL

One Post Office Square, Suite 3500

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

 

Hold-Thyssen Leases New Location for Top NY MedSpa at Tampa ’s Covington Professional Park

Theresa Margaris

  

Tampa, FL --- Hold-Thyssen, Inc. recently completed a long-term lease agreement at Covington Professional Park with a top ageless skin and body treatment spa moving out of Long Island , NY .    

 The new tenant, who will be opening their doors in early 2021, is a successful business relocating to Florida that selected the high-end medical/professional office campus with a dynamic tenant roster in a well-established area to grow. 

 The owner who currently employs a staff of five is also moving permanent residence out of NY to Florida.

Covington Professional Park, 13648 West Hillsborough Avenue, Tampa, FL

 Transaction specialist Theresa Margaris at Hold-Thyssen’s Clearwater office brokered the multi-year lease of the 1,250 square foot suite at 13648 W. Hillsborough Ave. representing both the Landlord, Biji, Inc. and the tenant.   

 Covington Professional Park is located on the south side of W. Hillsborough Ave. approximately one-quarter mile east of Race Track Rd.

 Hold-Thyssen, Inc. provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more that 100 commercial properties throughout the United States . 

* * *

Contacts:

 

Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc. 813-880-7100 ext303 

rfisher@HoldThyssen.com

 

Robert P. Hold, Principal, Hold-Thyssen, Inc.

407-691-0505, bhold@HoldThyssen.com

 

Beth Payan, Larry Vershel Communications Inc.

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

 

20 Guest Street in Boston Landing receives $44 million loan

        

Lauren O’Neil 

BOSTON, MA, Nov.2, 2020 – JLL Capital Markets announced today that it has arranged $44.03 million in financing for 20 Guest Street, a 228,912-square-foot creative office building located adjacent to the Boston Landing neighborhood in Boston, Massachusetts.

 JLL worked on behalf of a partnership between Griffith Properties, LLC and Artemis Real Estate Partners to secure the five-year, floating-rate acquisition loan with MetLife Investment Management.

 20 Guest Street is located adjacent to Boston Landing, one of the city’s newest and most dynamic neighborhoods that is considered by many to also be Boston’s premier wellness hub.

Martha Nay

Highlights of the neighborhood include the new Boston Bruins practice facility and Warrior Ice Arena, The Auerbach Center, the Boston Celtics practice facility and the soon-to-be home of The Track at New Balance, a world-class indoor hydraulic track, field and entertainment venue.

20 Guest Street boasts a transit-oriented location adjacent to the Massachusetts Turnpike as well as the MBTA Boston Landing station providing convenient access to the affluent western suburbs as well as Fenway, Back Bay and Downtown.

Completed in 2000 and designed by ADD, Inc., the state-of-the-art creative office building features expansive views through its generous window line, column-free floorplates with exposed ceilings and flexible tenant areas. 20 Guest Street is fully leased to seven tenants, including Harvard Business School of Publishing.

20 Guest Street, a 228,912-SFcreative office building
located adjacent to the Boston Landing neighborhood in Boston, MA

The JLL Capital Markets team representing the borrower included Senior Managing Director Lauren O’Neil and Senior Director Martha Nay.

 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

griffithproperties.com.

www.artemisrep.com.

Levin Johnston Directs $39 Million Apartment Acquisition in Haltom City, TX

 

380-Unit Spring Lake Apartments, 5301 Springlake Parkway
 situated on nearly 18 acres in Haltom City, TX

Adam Levin

BAY AREA, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has directed the acquisition of Spring Lake Apartments, a 380-unit multifamily property at 5301 Springlake Parkway situated on nearly 18 acres in Haltom City, Texas, located just minutes from Downtown Fort Worth.

 Executive Managing Director Adam Levin, Senior Managing Director Robert Johnston and Investment Associate Eymon Binesh represented the buyer, a California-based private investor, in the acquisition.

 “While Bay Area multifamily remains one of the best investments, diversifying into different regions when it makes sense for the Clients’ long-term wealth management goals is where we thrive,” explains Levin.

Robert Johnston 

  “In this case, we were able to source an exceptional largescale apartment community for an attractive price in the Dallas/Fort Worth region, which is experiencing strong growth and some of the highest leasing activity in the country.”

 Because there is less construction in the pipeline in Fort Worth submarkets compared to other areas of the metro, assets like Spring Lake Apartments are extremely well positioned to benefit from economic expansion, Levin notes.

 Johnston adds that the transaction was a rare opportunity for the buyer to expand his portfolio in a desirable market outside of California with minimal deferred maintenance.

 The community is ideally situated near several shopping, dining, and entertainment options. North East Mall, which is located four miles east of the property, offers residents more than 1.7 million square feet of retail and is anchored by Nordstrom, Macy’s, Dillard’s, and Dick’s Sporting Goods.

Eymon Binesh 

 The property is also in close proximity to Tarrant County College, the sixth largest college in Texas in terms of enrollment, as well as Dallas/Fort Worth International Airport, which supports approximately 228,000 full-time employees.

 “Spring Lake Apartments is situated near several major employers, up-and-coming residential neighborhoods, and planned commercial developments which are expected to further drive resident demand in the immediate area,” says Johnston.

 The apartment community, which offers an attractive mix of one-bedroom/one-bathroom and two-bedroom/two-bathroom units, was built in 1985 and strategically upgraded by the seller in 2017 through interior and exterior renovations.

  Contacts:

Alex Caswell / Elisabeth Manville  

Brower Group

(949) 438-6262

acaswell@brower-group.com

 

Replay Destinations Acquires Prime Development Parcels Adjacent to The Phoenician®, a Luxury Collection Resort in Scottsdale, AZ

Ascent at The Phoenician® golf villas, Scottsdale, AZ

 Gary Raymond

SCOTTSDALE, AZ – Replay Destinations (‘Replay’) announced  it has acquired real estate development parcels at The Phoenician®, a Luxury Collection Resort in Scottsdale, Arizona. 

The planned private residential community will sit at the foot of Camelback Mountain, overlooking the Phoenician® Golf Club. 

Known as Ascent at The Phoenician®, the project will become a true legacy property in one of Arizona’s most celebrated locations. 

Replay has acquired the development parcels from affiliates of Host Hotels & Resorts, Inc. (‘Host’), owner of The Phoenician®, a Luxury Collection Resort, which is consistently recognized as one of the world’s finest luxury resort destinations. 

“Designed as a luxurious desert sanctuary in the heart of Scottsdale, Ascent at The Phoenician® will offer buyers the rare opportunity to live at one of the region’s most prestigious addresses. 

"At this time when home is more important than ever, we have incorporated contemporary design, spacious indoor/outdoor living spaces, and private entrances in a world-class location to enjoy the beautiful desert,” said Gary Raymond, Managing Director, Replay Destinations.

Replay Destinations has acquired real estate development parcels at The Phoenician®, a Luxury Collection Resort in Scottsdale. Known as Ascent at The Phoenician®, the project includes a planned private pool and fitness amenity tucked up against Camelback Mountain. 

Ascent at The Phoenician® will consist of approximately 195 properties, including condominiums at the base of Camelback Mountain and Ascent Golf Villas along the first fairway of the Phoenician® Golf Club. integrating warm, natural materials, expansive windows and large outdoor living areas.

Replay’s Ascent at The Phoenician® will consist of approximately 195 properties. With views overlooking the new Phoenician® Golf Club and Camelback Mountain, home designs will feature contemporary architecture integrating warm, natural materials, expansive windows and large outdoor living areas.

 Priced from $1,785,000, the Ascent Golf Villas offer private two-car garages with additional storage. Generous outdoor living areas include spectacular upper level patio decks opening to views of the golf course and Camelback Mountain. 

“Host Hotels and Resorts is thrilled that Replay Destinations is acquiring these real estate development parcels at The Phoenician®, a Luxury Collection Resort for this legacy project,” said Linda Laniado, Vice President of Investments at Host. 

 Paul Jorgensen

“Replay is known internationally for creating one-of-a-kind projects in storied resort locations across the globe.

 "It was their understanding and design approach to creating the ultimate luxury resort lifestyle that intrigued our team. 

"We strongly align around the vision for this place and look forward to seeing it become a reality.”

“Scottsdale, Arizona continues to be recognized as one of the most desirable areas in the U.S. to own a home and experience everything Scottsdale and the surrounding Phoenix area offers. 

"We could not be more pleased to be creating a residential community in such a storied location,” said Paul Jorgensen, CEO of Replay Destinations in Vancouver, British Columbia.

 “The market fits very well with our growing portfolio of destination real estate developments in sought after locations like Hawaii, Sonoma Wine Country, Cabo San Lucas and the Caribbean.”

Replay Destinations has acquired development parcels from affiliates of Host Hotels & Resorts, Inc. (‘Host’), owner of The Phoenician®, a Luxury Collection Resort, which is consistently recognized as one of the world’s finest luxury resort destinations.

“The Phoenician®, a Luxury Collection Resort is one of the premier resort destinations in the United States, and we are honored to work in conjunction with Host in creating a special residential community,” Raymond said. “With The Phoenician®, a Luxury Collection Resort’s recent renovation including new restaurant concepts, a fitness facility,"

Ascent Golf Villas will be located along the first fairway of the Phoenician® Golf Club. Replay Destinations, which has properties in some of the world’s most sought-after settings, is now accepting reservations for the first release of luxury homes within the Ascent community – a limited collection of 30 golf villa homes situated adjacent to the golf clubhouse and new Phoenician® Tavern Restaurant.

Leslie Jenkins

Nathan And Associates Inc. was hired by Host to represent them in the marketing of the development parcels and were also responsible for marketing 51 finished lots on behalf of Replay.

Joe Bushong and Leslie Jenkins of Russ Lyon Sotheby’s International Realty are the listing agents for Ascent at The Phoenician®. 

For more information on real estate opportunities, call 480-534-4086 and to register for updates, please visit, ascentatthephoenician.com.

Current Projects

In addition to Ascent at The Phoenician®, Replay’s current development projects include: 

Half Moon Bay Antigua, an ultra-luxury destination that includes a Rosewood hotel, estate lots and branded residences; Ka‘upulehu in Hawaii, a private residential community on the Kohala Coast; Lift Park City, prime ski-in, ski-out residences at the base of the largest ski destination in the United States;

Joe Bushong 

 Mar a Cielo, resort condominiums within Cabo del Sol, one of the top destinations in Los Cabos; Mill District Healdsburg, a mixed-use development in the heart of Sonoma wine country that includes a boutique hotel, retail and luxury condominiums; 

One Ocean Bahamas, a luxury condominium high rise community overlooking Nassau Harbour;  and YOTELPAD Park City, a new concept in condominium living at the base of Park City Mountain in Utah.



 Contacts:

Michelle McGinty, DRA Collective
Tel: (310) 704-7834
michelle@dracollective.com

Rachael Myer Curley
 Account Director  
717 E. Maryland Ave., Suite 110 | Phoenix, AZ 85014 
Dir: 602.424.8645| 

Ph: 602.956.8834 | C: 480.560.3255

www.dracollective.com

www.replaydestinations.com 

Voit Real Estate Services Announces Collaboration with Tangerine Energy to Provide Battery Storage Energy Solutions to the California Grid

Todd Holley

San Diego, CA  –– Voit Real Estate Services, a privately held, broker-owned Southern California-based commercial real estate firm has announced an exclusive collaboration with Tangerine Energy, an energy development company that is working to positively impact the environment and provide grid stabilization to local geographies in California. 

 The new venture aims to lease and/or acquire as many as 50 industrial warehouse and/or land sites per year over the next five years to house battery storage centers in population-dense geographies that experience significant price volatility.

 “This strategy is a win-win for commercial property owners seeking stability in the current market” said Todd Holley, SIOR, senior vice president in Voit’s San Diego office.

  “Each industrial warehouse or land site will be either acquired or fully leased by a credit tenant for up to a 15-year term.  This delivers stabilized, cash flow assets – a welcome addition to most investors’ portfolios in uncertain times.”

 Michael Mossmer

 Holley, who co-leads collaboration initiatives alongside Voit senior vice president and partner Michael Mossmer, SIOR notes that this marks one of Voit’s first formal expansions into the energy sector.

 “Battery storage sites require significantly less space than solar farms and can be integrated throughout high density areas, to serve the needs of local markets,” Holley explains.

  “Our partnership with Tangerine is a great fit for the Voit network, as we are drawing on our  statewide network of offices and demonstrating the strength of our commercial reach while sourcing assets that can positively impact the California energy grid.”

Miriam Weber Miller, President of Tangerine Energy, notes, “Tangerine Energy made a decision more than a year ago to take a whole market approach to battery storage in the state of California.

 "This meant we needed a real estate partner with extensive experience and reach, and the professional resources to move swiftly in a rapidly evolving market.

 "We have found all of these things in our team at Voit and look forward to advancing the core Tangerine mission with Voit as our partner.”

    Contacts:

Katie Haga / Elisabeth Manville  
Brower Group  
(949) 438-6262 
khaga@brower-group.com 

 www.daumcommercial.com.

www.voitco.com.