Native Realty Expands Team of Property Enthusiasts, Promotes Kaley Tuning to Sales Director

 

Kaley Tuning

 

Dino Flora 

FORT LAUDERDALE, FL – March 30, 2021 – Native Realty, the pioneering Fort Lauderdale-based commercial real estate firm led by Jaime Sturgis, bolstered its team of Property Enthusiasts with the addition of Real Estate Agents Dino Flora and Spencer Scalzitti. Both are based in Native’s Flagler Village headquarters.

The firm also has promoted Kaley Tuning to Sales Director. She first joined Native as a Sales Associate in fall 2019.

Spencer Scalzitti

 A longtime resident of South Florida, Flora comes to Native with nearly two decades of leadership, strategic management and customer service experience. He spent 17 years serving in various leadership roles at JM Family Enterprises.

 Scalzitti has several years of real estate experience in Florida and New York. At Native, he is focusing on the firm’s substantial portfolio of investment sales and leasing offerings in Flagler Village.

 “We are thrilled to welcome Dino and Spencer, two talented and dedicated professionals who share our collective passion for the neighborhoods we are actively placemaking,” Sturgis said. 

“It is also exciting to have Kaley take on this new role. She has been a valuable member of the Native team since her arrival.”

Jaime Sturgis

Tuning has more than 15 years of industry experience, including nearly a decade at Fort Lauderdale-based Stellar Homes Group.

 Notable recent transactions completed by Tuning include:

 Representing New Jersey-based Asbury Ale House in a 9,263-square-foot lease for its first South Florida location at Society Las Olas in downtown Fort Lauderdale

• Brokering a 7,193-square-foot office lease with Fairway Independent Corp. at a Fort Lauderdale building owned by prominent real estate investment firm Elion Partners
• Arranging a 3,000-square-foot lease with “paint and sip” concept Strokes Art Bar in the emerging 13th Street neighborhood

Native Realty is headquartered at 719 NE Second Ave. in Flagler Village.

  

 CONTACT:

Eric Kalis

Vice President

BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagram

 www.nativerealty.com. 

Cara Leonard-Munn joins Bellwether Asset Management to lead Debt Team

Cara Leonard-Munn

 

 LOS ANGELES, CA March 30, 2021 - Bellwether Asset Management, Inc. (“Bellwether”) announced today that it has hired Cara Leonard-Munn as Senior Vice President, Debt Asset Management.

 In her new role, Mrs. Munn will be responsible for leading the Bellwether debt asset management team which oversees a wide variety of real estate debt investments, inclusive of private loans and public securities.

Dennis Grzeskowiak

 Mrs. Munn joins Bellwether from CBRE where she provided structured finance advisory services and Savills plc. where she led the Global Hotel Group investment banking platform’s expansion into the US.

 Previously, Mrs. Munn led the Structured Investments platform at Lowe Enterprises Investors and was a member of the real estate principal investment team at Canyon Capital. Mrs. Munn started her career as an attorney at Cox, Castle & Nicholson.

Joe Mossotti

 "Bellwether Asset Management is extremely pleased to add Cara to lead our Debt Asset Management group" said Dennis Grzeskowiak, Bellwether Co-Founder and Principal.

 "Our outsourced asset management services are viewed as best in class, and Cara’s addition to the team bolsters our capabilities and reputation.”

 Joe Mossotti, Bellwether Co-Founder and Principal, commented further “Cara’s significant experience in structured finance in addition to her legal background is the perfect fit to grow and manage our debt asset management platform, which continues to see significant demand from both new and recurring client engagements.”

 CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

 http://www.bellwetheram.com/

 

Upper East Side multi-housing development site in New York City sells for $32 million

 

SOLD: 1303-1309 Third Avenue, Upper East Side, New York City

 Guthrie Garvin

NEW YORK, NY,  Mar. 29, 2021 — JLL Capital Markets announced today that it has completed the $32.325 million sale of 1303-1309 Third Ave., a premier corner development site on New York City’s Upper East Side.

 JLL worked on behalf of the seller Gastonia, LLC to complete the sale to the buyer, EJS Group.

 The assemblage, located at the southeast corner of Third Ave. and E. 75^th St., provides a unique development opportunity with more than 150 feet of wraparound frontage.

 Jonathan Hageman

The site is ideally positioned for a developer seeking to build in the heart of one of Manhattan’s most desirable and established neighborhoods.

The property is within walking distance to major attractions and amenities, including Central Park, world-class museums, leading hospitals, premier schools, fine dining and shopping.

 It is located in close proximity to the Q, 4, 5 and 6 subway lines, providing direct access to Midtown and the rest of Manhattan.

 The JLL Capital Markets team representing the seller was led by Managing Directors Guthrie Garvin, and Jonathan Hageman; Directors Jack Norton and Solomon Michailow; and New York Investment Sales Chairman Bob Knakal.

 Jack Norton 

“1303-1309 Third Ave. is a unique development opportunity with extraordinary potential,” said Garvin. 

“Its location within one of Manhattan’s most sought-after neighborhoods offers developers the chance to create a stand-out residential property.”

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

Solomon Michailow

 

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.

 CONTACTS:

 George Shea and Rachel Tate

Shea Communications

Phone: +1 212 627 5766

Email: rachel@sheacommunications.com

 

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

 

Hampton Inn & Suites in the Florida Panhandle sold

Hampton Inn & Suites I-10 North hotel, Pensacola, FL

 

Steve Leslie 

MIAMI, March 29, 2021 – JLL Hotels & Hospitality announced today that it has closed the sale of the Hampton Inn & Suites I-10 North hotel located in Pensacola, Florida.

 JLL represented the seller in completing the transaction to the buyer, Omega Hotel Group.

 The Hampton Inn & Suites I-10 North was built in 2006 and is located at 7050 Plantation Road and totals 85 keys.

The Property is strategically positioned near the junction of Interstates 10 and 110 and proximate to Pensacola International Airport, Port of Pensacola, Pensacola Beach and the Naval Air Station.

The Florida Panhandle is continuously demonstrating positive market fundamentals, with drive-to leisure located hotels showing one of the fastest paces of industry recovery.

Gregory Rumpel

The market has shown tremendous resilience with Q4 2020 RevPAR significantly outpacing prior year (up 31 percent YOY).

The JLL Hotels & Hospitality team representing the seller was led by Vice President Steve Leslie and Senior Managing Director Gregory Rumpel.

 “We experienced a tremendous amount of interest on the sale of the Hampton Inn & Suites Pensacola with a buyer pool that has even expanded from pre-Covid-19 levels motivated by strong branding, improving RevPAR fundamentals and a revived focus on drive-to-markets,” said Leslie.

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

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

 

 

Redevelopment opportunity sold in high-growth Los Angeles, CA market of Koreatown

 

SOLD: Redevelopment opportunity on 0.21 acres at 513 Western Avenue on the southwest corner of West 5th Street and South Western Avenue,  just north of Wilshire Boulevard
in Koreatown, Los Angeles, CA

NEWPORT BEACH, CA, March 29, 2021 – JLL Capital Markets announced today that it has closed the $2.9 million sale of a covered land play consisting of a 3,600-square-foot value-add retail building with future development potential in the heart of Koreatown, one of the most active and emerging neighborhoods in Los Angeles, California.

 JLL marketed the property on behalf of the seller, a private family office based out of Los Angeles. A private investor purchased the asset.

 Completed in 1920, the one-story building is currently fully leased to Ace Hardware on a month-to-month basis, providing the new owner with an income stream while they go through the re-entitlement process with the city.

Adam Friedlander

Based on current zoning, the new owner could eventually redevelop the property into a multi-housing asset with between 23 and 41 units, depending on if they take advantage of Los Angeles’ Transit Oriented Communities (TOC) program that would allow for a larger unit count.

 The property consists of 0.21 acres at 513 Western Ave. on the southwest corner of West 5th Street and South Western Avenue just north of Wilshire Boulevard in Koreatown, one of the most impressive growth submarkets in Los Angeles.

This central Los Angeles location puts the site between Downtown LA, Hollywood, Miracle Mile and Hancock Park, making it ideal for retail or multi-housing uses.

Additionally, the property has near immediate access to the Purple Line’s Wilshire / Western Station and is 2.8 miles from both the 101 and Interstate 10, providing quick, convenient and affordable access to the majority of Los Angeles’ robust employment and cultural hubs.

 The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Director Adam Friedlander (Ca. Lic. #1806555).

Los Angeles' Purple Line’s Wilshire / Western Station 

 “The ACE Hardware investment offering was a unique opportunity to acquire a single-tenant storefront retail building at a below market rent,” Friedlander said. “In addition, the ACE Hardware lease was month to month.

 “Opportunistic buyers were attracted to the property and understood the future development potential of the site,” he added. “Dense, in-fill locations of Los Angeles continue to be highly sought after by developers looking to redevelop commercial properties into its highest and best use.”

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

 

$220 million construction loan secured for National Real Estate Advisors to build Jefferson Health’s new ambulatory clinic in Center City, Philadelphia

 

Rendering of planned Jefferson Health,
452,000-square-foot, specialty care pavilion,
 at 1101 Chestnut Streetin Center City, Philadelphia.

PHILADELPHIA, PA – JLL Capital Markets announced t it has arranged $220 million in construction financing for the new Jefferson Health, 452,000-square-foot, specialty care pavilion to be constructed at 1101 Chestnut St. in Center City, Philadelphia.

 Serving as exclusive advisor to the joint venture partnership between National Real Estate Advisors, LLC on behalf of a client (“National”), Joss Realty Partners, SSH and Young Capital, JLL secured the construction financing through a syndicate of banks.

 Located at the corner of 11^th and Chestnut Streets, the 19-story, specialty care pavilion will also include a three-story underground garage, access to loading docks and parking for some 320 vehicles.

Chad Orcutt 

The build-to-suit project is being developed by National Real Estate Development, LLC, a subsidiary of National.

 The contemporary design features a curved glass façade set in a podium to reflect both the state-of-the-art nature of the facility and the integration of the building into the East Market development. Occupancy is scheduled for the 1^st quarter of 2024.

 The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Chad Orcutt and Jim Galbally. 

 “The project represents a transformative moment for Jefferson’s Health’s future and a significant investment in Center City Philadelphia,” Orcutt said.

 “The new Jefferson medical office building will centralize an array of clinical services into a specialty care pavilion.”

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

Jim Galbally

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.

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

 jll.com

natadvisors.com.

jll.com.

 

Grossman Company Properties Selects Mike Pedulla as New President; John Grossman Remains as CEO and Matt Crow will Join the Board of Directors

 

 Mike Pedulla

 PHOENIX, AZ — Grossman Company Properties has selected a new president to guide the company’s future growth.

 Mike Pedulla will become president of the pioneer real estate development company effective March 30, and will oversee operations of the company’s extensive real estate portfolio.

Acditionally, John Grossman will remain as CEO, and Matt Crow will join the company’s board of directors.

John Grossman 

 Pedulla has more than 20 years of experience in commercial real estate-related investment, development, asset management and finance.

 Since 2003, he has worked with DLJ Real Estate Capital Partners, an institutional real estate private equity investment and development firm based in New York. 

Pedulla has worked on a variety of projects across many markets and property types including hospitality, mixed-use, multifamily, office and land development. 

Matt Crow

 Most recently, Pedulla served as Managing Director and Co-President of Cityline Partners, a DLJ subsidiary, on a large scale mixed-use and land development investment in Northern Virginia. 

 “We are very pleased to welcome Mike to GCP and look forward to the impact he will have on our future,” Grossman said. “His expertise in development and planning will serve us well as we look to enhance and maximize our overall portfolio.”

Pedulla’s educational background includes a Master of Business Administration in Real Estate and Finance from the Wharton School, University of Pennsylvania and a Bachelor of Science from Cornell University, School of Hotel Administration. 

                                          Sam Grossman

 “I look forward to becoming part of Grossman Company Properties and continuing the company’s legacy of quality development and hospitality operations,” Pedulla said.

“The company has a reputation for being a leading force in the real estate and hospitality industries and its properties have an extremely bright future moving forward.”

 Grossman Company Properties currently owns and operates extensive real estate holdings.

The company was started by Sam Grossman in the early 1960s and has been involved in many of the Valley’s signature developments.

 For more information, visit grossmancompany.com.

 

CONTACT:

Tom Evans 

 Partner

 Public Relations & Event Strategies

Cel: 602-448-5483 | Direct: 480-482-7360 | Main Office: 480-705-6623

101 North 1st Avenue, Suite 2000  |  Phoenix, AZ 85003

ONAdvertising.com

 

Chatham Lodging Announces Sale of Its Innkeepers Joint Venture Interest

 

 Jeffrey H. Fisher

WEST PALM BEACH, FL —Chatham Lodging Trust (NYSE: CLDT), a lodging real estate investment trust (REIT) that invests in upscale, extended-stay hotels and premium-branded, select-service hotels, announced the sale of its 10.3 percent interest in the Innkeepers joint venture with Colony Capital for $2.8 million.

 “This sale culminates a very successful joint venture investment for Chatham since we partnered with Cerberus to buy the Innkeepers portfolio out of bankruptcy in 2011,” highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer.

  “Originally investing $37 million for our interest, this has proven to be a very profitable investment for Chatham and our shareholders.

 "Alongside Cerberus, our investment returned profit of approximately $80 million by the time Cerberus sold its interest to Northstar Realty Finance (which ultimately merged with Colony) in 2014.

 "Since then, we received distributions of $22.2 million, bringing total returns to over $100 million.”

  CONTACTS:

Chris Daly                                                            

Daly Gray Public Relations                                   

 (Media)                                                                

chris@dalygray.com  

(703) 435-6293                                                    

 

Dennis Craven

Chatham Lodging Trust

(cumpany)

 dcraven@cl-trust.com

(561) 227-1386  

chathamlodgingtrust.com.