Multi-housing brownstone on New York City’s Upper West Side sold for $5.2 million

 

103 West 75^th Street, a 7,225-square-foot
multi-housing property located in
 the Central Park West Historic District
on New York’s Upper West Side.

 

NEW YORK, NY— JLL Capital Markets announced it has completed the $5.2 million sale of 103 West 75^th St., a 7,225-square-foot multi-housing property located in the Central Park West Historic District on New York’s Upper West Side.

JLL worked on behalf of B.I.G.G., LLC to complete the sale to the 103 West 75^th Street LLC.

 Paul Smadbeck 

The Renaissance revival-style building is currently divided into five expansive, fair-market, floor-through apartments. 

Layouts include two-, three- and four-bedroom units, with ground-floor units including direct access to a bright outdoor garden.

The top-floor four-bedroom unit features a rooftop penthouse and two outdoor terraces.

Located between Columbus and Amsterdam Ave., 103 West 75th St. is near the area’s best restaurants, bars, shopping and attractions, including the American Museum of Natural History.

The property is steps from Central Park and subway service on the 1, A, B, C and D lines.

The JLL Capital Markets team representing the seller was led by Managing Directors Paul Smadbeck and Hall Oster, Vice Presidents Teddy Galligan and Conrad Martin, and Associate Braedon Gait.

 Hall Oster

“This investment property offers remarkable versatility in one of the most popular neighborhoods in New York City,” said Smadbeck. 

“It provides the opportunity for single-family occupancy, with a live-plus-income option, or it can continue as a prime income-producing asset with five highly attractive floor-through apartments.”

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.

Teddy Galligan 

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

Conrad Martin

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

 

CONTACTS:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 us.jll.com/investorservices

Braedon Gait

George Shea, Rachel Tate

Company: Shea Communications

Phone: +1 212 627 5766

Email: rachel@sheacommunications.com

 

 

 

Coakley & Williams Hotel Management Company Selects Hotel Investor Apps (HIA) for New Accounting Platform

Charlie Fritsch

 GLENWOOD, MD, Dec. 18, 2020 -- Hotel Investor Apps (HIA), the provider of the only hotel-specific Enterprise Resource Planning (ERP) platform and state-of-the-art, next generation accounting software, today announced that Coakley & Williams Hotel Management Company (C&W), a leading, nationwide, full-service hotel management company, has converted to its new platform to reduce hotel expenses and gain greater flexibility for its owners and property level management. 

            

“HIA is disruptive technology. Having all of your business programs on one platform, integrating data and eliminating many hours of wasted time every week with built-in automations is like leaping from floppy disks to the cloud,” said Charlie Fritsch, CEO of Hotel Investor Apps.

Stephen Hahn

 “In the current economic and travel climate, hotel owners increasingly want time- and money-saving options to reduce expenses and improve profitability. 

"Our technology provides the only true-cloud, Enterprise Resource Planning platform built specifically for hotels, as well as the only full functionality mobile app, which provides more accounting services to clients with easier access than any other software. 

"One literally can review P&Ls and budgets and analyze real-time data for an entire hotel portfolio all from the convenience of a handheld device.”

“It might seem counterintuitive to purchase and convert to new software during the worst hotel downturn in the last 50 years,” said Stephen Hahn, Coakley & Williams vice-president of corporate services/CIO. 

               Chris Daley

 “However, this software gives our operators and owners the latest technology which allows a more efficient workflow, while giving us easier access to data. 

"This allows us to manage revenues and expenses more accurately and rapidly. This software makes us and our hotels more competitive.”

 

CONTACT:

CHRIS DALY

PRESIDENT

DG Public Relations, LLC

42806 Oatyer Court

Broadlands, Va. 20148

Main: 703-435-6293

Mobile: 703-864-5553

 chris@dalygray.com | www.dalygray.com

$16.96 million equity raise secured for Arkansas student housing community

 Teddy Leatherman

 

 DALLAS. TX, Dec. 18, 2020 – JLL Capital Markets announced today that it has arranged $16.96 million in joint venture equity for Ozark Villas, a 670-bed student housing community serving the University of Arkansas (U of A) in Fayetteville, Arkansas.

Ozark Villas, a 670-bed student housing community at 870 South Beechwood Avenue, serving the University of Arkansas (U of A) in Fayetteville, AR

 JLL worked on behalf of Fountain Residential Partners to secure the equity through a partnership between CrowdStreet, Inc. and a family office.

 Brent Little

Proceeds were used to acquire the property and fund a complete renovation, upgrade and rebranding of the property to Ozark Villas, formerly named Beechwood Village.

The student housing property will benefit from building and unit upgrades, cosmetic enhancements, a complete amenity upgrade, new fitness equipment, and unit furniture package upgrades that will position Ozark Villas as the premier cottage-style community in the market.

 Ozark Villas is located at 870 S. Beechwood Ave. immediately southwest of the U of A campus, which serves more than 27,000 students and is the largest university in Arkansas. 

The property is proximate to numerous retail, dining and nightlife offerings and is just east of Interstate 49 providing connectivity throughout the state.

Scott Clifton 

 Completed in 2015, Ozark Villas consists of 213 units offering one-, two- and four-bedroom floorplans.

Units are fully furnished with modern pieces, offer private bathrooms for each bedroom, in unit washer/dryers, oversized walk in closets, private balconies and patios and modern kitchens.

 Community amenities at the LEED® certified property include a resort-style pool with outdoor kitchen, community green space with firepit, sand volleyball court, lighted basketball court, modern clubhouse, 24-hour fitness center and collaborative and private study spaces.

Ozark Villas is also located along the University bus route and has direct access to the Razorback Greenway.

 Brent Little, President of Fountain Residential, says, “When completed in 2015, Beechwood Village was the top performing asset in the Fayetteville market. 

Jeremy Sain

 For the first few years we were able to lease up over 100%.  Under new ownership and with fresh, new capital behind us, we are going to bring the property back to a new construction level and create the best in class property for our residents and investors.”

The JLL Capital Markets team representing Fountain Residential Partners was led by Managing Director Jeremy Sain and Directors Teddy Leatherman, Scott Clifton and Stewart Hayes.

 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.

Stewart Hayes

 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 Fountain Residential Partners

Fountain Residential Partners, LLC is a privately held Dallas-based multifamily real estate development, acquisition, and asset management company.  

Fountain Residential is managed by seasoned real estate professionals that have a combined experience of over 60 years in the industry having completed over $1.5B in student housing projects.

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

Kristen.Murphy@am.jll.com

 www.jll.com

Ware Malcomb Announces Completion of TruStile Headquarters in Denver, CO

 

Matt Chaiken

DENVER, CO – Ware Malcomb, an award-winning international design firm, announced construction is complete on the new headquarters of TruStile located at 1111 E 71st Avenue in Denver. Ware Malcomb provided architecture, interior design, and civil engineering services for the project.

“TruStile previously operated out of 4 buildings in north Denver," said Matt Chaiken, Principal of Ware Malcomb’s Denver Office.

"This new headquarters brings all of TruStile’s operations together under one roof, doubling their square footage and giving them plenty of room for future growth."

Chris Strawn, Principal, Civil Engineering, added: “Working closely with TruStile we created a unique design - from the civil engineering to the architecture and interior design - which reflects their commitment to innovation and technological advancement, and supports long-term success."

Chris Strawn

 The General Contractor for the project was Ryan Companies, Inc.

Founded in 1995, TruStile is an industry leader and innovator in interior doors. 

The company’s new 310,000 square foot headquarters is comprised of approximately 50,000 square feet of office space and 260,000 square feet of manufacturing/production space with a large outdoor amenity deck.

 Every door throughout the facility showcases a different model designed and manufactured by TruStile, creating a walking showroom of the brand.

All glazing, both interior and exterior, was designed and manufactured by TruStile’s parent company, Marvin Windows & Doors.

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

 For more information, please visit http://www.waremalcomb.com/news and view Ware Malcomb’s Brand Video at youtube.com/waremalcomb.

 waremalcomb.com

Oasis-inspired NOVEL Research Park apartments sold for $69.5 million in Charlotte, NC

 

Andrea Howard

CHARLOTTE, NC – JLL Capital Markets announced it has closed the $69.5 million sale of the luxury, garden-style NOVEL Research Park, by Crescent Communities, a multi-housing community within University Research Park in Charlotte, North Carolina.

 JLL marketed the property on behalf of the seller, Crescent Communities. RK Properties purchased the property.

Allan Lynch

 Developed by the seller in 2019 in a joint venture with Phoenix Capital Holdings, LTD, the community sits on 19.3 acres and totals 271,600 square feet and consist of one-, two- and three-bedroom units.

The apartments are also equipped with fenced-in pet yards, quartz countertops, eat-in kitchen islands, LED ceiling lighting, double sink vanities and various unit finish options.

Community amenities include a hammock garden, grilling station, outdoor shuffleboard court, saltwater pool, poolside bar, fitness center featuring top-of-the-line equipment such as a Peloton bike, oversized pet park and coworking booths and micro-offices.

 Charlotte’s vibrant University Research Park submarket is home to 23 Fortune 500 company offices and are home to more than 75,000 employees.

The area continues to soar as a burgeoning employment hub, and to keep up with the growing population, various local expansion projects are in the works including the Light Rail expansion project to increase accessibility from UNC Charlotte to South End and everywhere in between, and over $215 million in other infrastructure and construction projects underway.

Caylor Mark

 In addition, Charlotte is consistently recognized as a top place to live and work and for its vibrant entertainment and dining scenes.

 The JLL Capital Markets team representing the seller was led by Allan Lynch, Caylor Mark, Andrea Howard, John Currin and Jeff Glenn.

 "Investors continue to target the best in suburban apartments, particularly those of Crescent's high-quality caliber and proximate to job centers like Research Park and Centene's future East Coast Headquarters," said Mark.

 “It was a privilege to work on behalf of Crescent Communities, whose clear vision and leading site selection prowess ultimately led to robust investor interest,” added Lynch.

“On that note, Crescent demonstrated prescient thinking once again with its three University-area developments already underway when Centene announced plans for an East Coast headquarters, bringing 6,000+ employees to the neighborhood.”

 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.

John Currin 

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 Crescent Communities

Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. 

We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. 

Since 1963, our development portfolio has included more than 59 multifamily communities, 21 million square feet of commercial space and 60 single family master-planned communities. 

Headquartered in Charlotte, Crescent Communities has regional offices in Washington, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our multifamily communities are branded NOVEL by Crescent Communities.

 Jeff Glenn

 About RK Properties

Rance King Properties Inc. has specialized in multifamily property investments since 1976. It is a national company with current and previously owned properties acquired throughout the United States. 

RK Properties has served over 7,000 investors in the last 43 years since inception. 

Its current portfolio has a current market value of just under $1 billion. The skills and experience of RK professionals have combined to produce a consistent, successful record of performance in apartment investing.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL is a Fortune 500 company with annual revenue of $18.0 billion, 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.

 CONTACT:

Natalie Passarelli
Public Relations

Jones Lang LaSalle Americas, Inc.

200 E. Randolph St.
Chicago, IL 60601

M +1 224 477 7307

natalie.passarelli@am.jll.com

 us.jll.com/investorservices

crescentcommunities.com.

jll.com.

rkprop.com 

 

Marcus & Millichap Brokers $2.6 Million sale of DaVita Dialysis Building in Tavares, FL

DaVita Dialysis Building, 1971 Salk Avenue, Tavares, FL

Joe Powers

 TAVARES, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of DaVita Dialysis, an 8,300 square foot net-leased property located at 1971 Salk Avenue in Tavares, FL, according to Joe Powers, regional manager of the firm’s Chicago Downtown office, and Ryan Nee, regional manager of the firm’s Fort Lauderdale office and Broker of Record for the State of Florida .

 The asset sold for $2,600,075.

   The buyer, a private investor, was secured and represented by Mitchell Kiven, an investment specialist in Marcus & Millichap’s Chicago Downtown office.

Ryan Nee

 After conducting a market rent analysis of the submarket, Mitchell determined that the DaVita property was an ideal fit for his client, due to the rent structure, as well as the fact that this is a relocation clinic scheduled to open in the next month.

  These factors, combined with DaVita credit, made this opportunity an ideal fit for the buyer, and a sought-after opportunity for the market writ large. There were multiple offers and the transaction closed at full asking price.

Mitchell Kiven

CONTACTS:

Joe Powers

Regional Manager,

Chicago Downtown

(312) 327-5400

 

Daniella Aragon

Marketing Coordinator/ Certified Agent Support Specialist

5201 Blue Lagoon Drive, Suite 100, Miami, FL 33126

O: (786) 522-7122 C: (786) 454-0094 E: Daniella.Aragon@marcusmillichap.com

NYSE: MMI