Thursday, April 22, 2021

The Most Beautiful Home in Hollywood Listed for $40 Million

 

The former 15-bedroom, 15-bath Canfield-Moreno Estate,
 now known as 
Paramour Estate overlooking
Silver Lake in East Los Angeles, CA

SILVER LAKE, LOS ANGELES, CA -- In the early 1900s, Southern California became the glamour capital of the world, where some of the world’s most famous movie stars, directors and producers tried to outdo each other with their ritzy mansions.

Mary Pickford 

There was the Louis B. Mayer Estate in Bel Air; a number of mansions designed by Wallace Neff for the biggest celebrities including Charlie Chaplain, Fredric March and Harpo Marx; and the most famous home of all: Pickfair for Mary Pickford and Douglas Fairbanks.

Daisy Canfield

But according to the tabloids of the era, the most beautiful home of them all was the Canfield-Moreno Estate, now known as Paramour Estate. It is now on the open market for the first time, priced at $39.995 million.

Cher

Heiress-and-socialite Daisy Canfield, with the Pan American Petroleum fortune in her back pocket, could have almost anything she wanted, according to TopTenRealEstateDeals.com.

Rachel McAdams

And what she wanted most was the grandest home in Los Angeles. Daisy hired the most famous architect of the time to design and build a monument-mansion where she could overlook Hollywood from the highest ridge in the Los Angeles basin.

Christina Ricci

It was the most opulent mansion of the era and like many of the old L.A. mansions, was full of celebrity connections and intrigue.

Sally Forster Jones

Daisy’s first marriage was to Jay M. Danziger, who was connected to the Mexican Petrol Oil Company. After their divorce, she married silent film star Antonio Moreno in 1923.

 

              Charlie Chaplin

Together they built their mansion overlooking Silver Lake; the home went by various names throughout the years from Crestmount, to the Danziger Mansion, to the Canfield-Moreno Mansion, and finally the Paramour Estate.

Douglas Fairbanks

In addition to their home, Daisy also used the property as a boarding school and academy that educated young-orphaned girls.

Fredric March

 But in 1933, only days after her abrupt separation from Moreno, Daisy’s life came to a tragic end, returning home from a party, when her chauffeur-driven car plunged off a 300-foot cliff along Mulholland Drive.

Harpo Marx

 The home continued to operate as a boarding school, while Moreno stayed in the home until 1948. In 1953, the home was deeded to the Franciscan Sisters of the Immaculate Conception Order, who also used it as a school.

Wallace Neff 

In 1998, designer Dana Hollister purchased the home, renamed it Paramour, and funded a restoration from onsite film shoots, weddings and social events.

Antonio Moreno

Perched on over 4.3 acres, the four-story, walled, 22,000-square-foot home with 15 bedrooms and 15 baths is not anyone’s regular ho-hum mansion.

Tony Curtis

Created by Robert D. Farquhar, the architect to the stars who also did the Owlwood Estate - once owned by both Tony Curtis and Cher, Paramour played host to lavish celebrity parties and was ultimately dubbed by the tabloids as "The Most Beautiful Home in Hollywood."

Robert D. Farquar
(Courtesy photo Santa Monica History Museum)

 Features include ceiling beams painted to match the colors in the home’s fabrics, a bar front covered in zebra skin, a grand ballroom with a 25-foot-high ceiling, gilded mirrors, bold colors, crystal chandeliers, a myriad of places to dine, marble-hand-tiled pool, sunroom, lower-level staff quarters, and 360-degree views that stretch from the Pacific Ocean to the San Gabriel Mountains.

Chris Pine 

There are four guest cottages, two guest suites, lush landscaping with rose gardens, and parking for 50 cars. According to the seller, “Antique and vintage lighting, furniture, and décor are not included in the sale, but may be available at an additional cost."

Pauly Shore

The Silver Lake neighborhood is on L.A.’s east side near Sunset Boulevard, also home to celebrities Rachel McAdams, James Franco, Christina Ricci, Chris Pine and Pauly Shore.

James Franco

The listing agent for the Paramour estate is Sally Forster Jones of Compass, Los Angeles.

Photo credits: Simon Berlyn and Neue Focus

Source: www.compass.com

 

 CONTACT: 

Genelle C. Brown
Content Manager, Media Division

TopTenRealEstateDeals.com
Phone:  336-459-3728

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  


Single-tenant grocery portfolio in Northeast U.S. sells for $295 million

 Lauren O’Neil 

BOSTON, MA, April 22, 2021 – JLL Capital Markets announced today that it has closed the $295 million sale of—and arranged $157.95 million in acquisition financing for—a portfolio of 11 single-tenant retail buildings net leased on a long-term basis to Stop & Shop in densely populated markets throughout Connecticut, Massachusetts and Rhode Island.

Elliott Throne
 JLL marketed the portfolio on behalf of the seller, Winstanley Enterprises and Surrey Equities. The Inland Real Estate Group of Companies, Inc. acquired the assets.

Additionally, working on behalf of the new owner, JLL secured two separate 10-year, fixed-rate loans with a life company and with a CMBS lender.

 

The pandemic-, internet- and recession-resistant retail properties are net leased to Stop & Shop, a division of Ahold Delhaize USA, Inc., the third-largest supermarket operator in the U.S. 


Additionally, Stop & Shop is the No. 1 grocer by market share in Connecticut, Massachusetts and Rhode Island. 

 

The 748,141-square-foot portfolio of irreplaceable, essential retail properties includes:

 

  • 19 Howley St., Peabody, Mass. (Boston MSA)
  • 905 Massachusetts Ave., Arlington, Mass. (Boston MSA)
  • 35 Bedford St, Lexington, Mass. (Boston MSA)
  • 55 Long Pond Dr., South Yarmouth, Mass. (Cape Cod area)
  • 469 Pleasant St., Attleboro, Mass. (Providence MSA)
  • 595 Smithfield Rd., North Smithfield, R.I. (Providence MSA)
  • 446 Putnam Turnpike, Greenville, R.I. (Providence MSA)
  • 333 W. River St., Providence, R.I.
  • 1391 Main St., Willimantic, Conn. (Hartford MSA)
  • 195 West St., Cromwell, Conn. (Hartford MSA)
  • 15 Franklin St., Seymour, Conn. (Hartford MSA)

 

Matthew Tice


According to JLL Research’s recently released U.S. Grocery Tracker 2021 report, grocery-anchored retail centers continue to be investors’ preferred retail property type.

 Single-tenant grocery assets, like the ones represented in this portfolio, along with grocery-anchored retail under 100,000 square feet, will be one of the most sought-after asset classes during the recovery.

 

JLL anticipates there will be significant cap rate compression over the next 12 to 18 months.

 

Matthew Tice, senior vice president of Inland Real Estate Acquisitions, LLC, facilitated the acquisition on behalf of The Inland Real Estate Group of Companies, Inc.

 

Nat Heald 

“This portfolio’s established and necessity-based footprint, combined with 20-year leases at all 11 properties in strong market locations, is an ideal example of the opportunities we seek to acquire as we move further into 2021,” Tice said.


The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Nat Heald and Senior Managing Director Jose Cruz along with Senior Managing Director Chris Angelone and with support from Managing Director Matthew Sherry.


Jose Cruz 


“The demand and ultimate pricing we saw for this portfolio represents a new pricing paradigm within the single-tenant net-lease space,” Heald said.

 “Since the value of these types of assets appreciated throughout the pandemic, we anticipate investors will continue to aggressively pursue these defensive positions within the retail sector and that demand will far outstrip supply for the foreseeable future.”

 

The JLL Capital Markets Debt Placement team representing the new owner included Senior Managing Directors Lauren O’Neil and Elliott Throne.

 

“Entering 2021, lenders were hungry to put out capital, particularly in lower-risk assets, like credit, long-term, net-leased retail,” O’Neil added.

Chris Angelone 

“The two lenders offered the best combination of economic terms and ability to close on a tight timeline. 


"The strength of the Inland acquisition team and process, coupled with the real estate, garnered some of the most attractive terms available.”

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

 

Matthew Sherry

CONTACT

Kimberly Steele

PR, Capital Markets,

Agency Leasing and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com


Alliant National Hires Rayni Scott as Vice President and also as Underwriting Counsel for the Southwest

 

Rayni Scott 

Longmont, CO, April 22, 2021 -- Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position, announces the hiring of Rayni Scott to the position of Underwriting Counsel for the Southwest Region and Vice President.

“We are so pleased Rayni has joined our team of exceptional underwriters in the Southwest Region,” says Margaret Cook, Executive Vice President, General Counsel and Chief Legal Officer.

Margaret Cook

 “She brings a wealth of legal knowledge, industry experience and a spirit of service to the position. Rayni is well-versed in residential, commercial, multi-use and ranch land underwriting. Her depth of knowledge and affable attitude make her a perfect fit for Alliant National.”

Rayni Scott is a highly skilled real estate and title insurance attorney with more than 20 years of experience. She is well-versed in real estate matters, title insurance underwriting and contracts. Rayni is a graduate of University of Mississippi and obtained her J.D. from St. Mary’s University School of Law.

CONTACT:

Cathie Beck
303.241.0805
cathie@capitalcitypr.com


 

Wednesday, April 21, 2021

Two-building New Jersey office complex trades

Kevin O’Hearn
 MORRISTOWN, NJ– JLL announced it has closed the sale of 742 and 746 Alexander Rd, a two-building office complex totaling nearly 110,000 square feet in West Windsor, New Jersey.

 JLL represented the seller, Princeton Insurance Company, and procured the buyer, Strategic Funding Alternatives, LLC (SFA).

 

742 and 746 Alexander Rd. is located within the prestigious Princeton office market, which is home to numerous major corporations and pharmaceutical companies.

 

The properties served as the corporate headquarters of Princeton Insurance Companies from the 1980’s until just recently, when Princeton decided to relocate to a nearby property.


Jose Cruz
The three-story 742 Alexander Rd. property consists of approximately 50,000 square feet.  746 Alexander Rd. is a two-story, approximately 60,000 square-foot building. 

On-site tenant amenities and features currently include a cafeteria, fitness center and atrium lobby.

JLL’s team representing the seller was led by Senior Managing Directors Kevin O’Hearn and Jose Cruz, Managing Director Thomas Romano and Managing Directors Michael Oliver and Steve Simonelli.

“Princeton Insurance is a long-time client, and we’re thrilled to not only handle the disposition of their property, but also the relocation of their Princeton office,” Romano said.

Thomas Romano 
“The Alexander Rd. properties presented a tremendous value add and renovation opportunity for an investor,” O’Hearn added.

“SFA owns similar properties in the region and was attracted to the prime location and flexible floor plates that can accommodate a wide variety of renovation strategies.”

 

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

 

 

About Princeton Insurance Co.

 

Princeton Insurance Company is New Jersey’s leading healthcare liability insurer, continually protecting the assets and reputations of the New Jersey healthcare community since 1976. For more information, please visit: princetoninsurance.com.



Michael Oliver

About Strategic Funding Alternatives, LLC

 

Strategic Funding Alternatives, LLC (SFA) is a privately held commercial real estate investment firm located in Moorestown, NJ.

 

Founded in 2016, SFA has become one of the fastest growing firms in the South Jersey market with 20 properties and 1,400,000+- square feet. 

 

The company’s investment division raises and places equity in undervalued commercial office complexes, optimizing performance through acquisitions and value-add capital improvement opportunities and providing investors with discretion over individual assets, regular quarterly income and long-term capital appreciation. 


Steve Simonelli

For its commercial portfolio, SFA offers full-service property management, including leasing, construction, and comprehensive tenant-related services.

 

SFA embraces its corporate social responsibility and the firm actively supports many local, regional, and national organizations.  For more information, visit sfarealestate.com or call (856) 437-6196.

 

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.

  

 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


Daum Helps Arizona-based company expand with new headquarters in Glendale

Carter Wilson
 PHOENIX, AZ – DAUM Commercial Real Estate Services has recently directed the acquisition of a 9,500 square-foot industrial property in the Phoenix submarket of Glendale, Arizona on behalf of the buyer, American Roofing & Waterproofing.

          The asset will serve as the company’s new headquarters location, according to Carter Wilson, CCIM, Associate at DAUM Commercial, who completed the transaction alongside David Wilson, CCIM, DAUM Executive Vice President.

“As a leading commercial and residential roofing company in Arizona that also works throughout Texas and California, American Roofing & Waterproofing has experienced consistent growth,” says Carter.

         David Wilson

“Based on the firm’s success, business plan, and the strength of the greater Phoenix industrial market, we advised the team to strategically purchase their own location in Glendale, which will position them well for continued success and expansion.”

Carter notes that the property is situated in an ideal location for the buyer, with all of its vendors located within a mile of the asset, as well as a strong client base.

Wilson adds that the Phoenix area saw the best quarter on record for industrial net absorption in Q4 2020, demonstrating the continuing demand from local businesses to remain in and expand within the market.

Doug Haman


“Through close relationships with lenders, we were further able to help move this transaction forward seamlessly by connecting the buyer with Enterprise Bank, where Senior Vice President Doug Haman facilitated the SBA loan process with the buyer and all other parties involved,” Wilson continues.

The property is located at 5210 W. Missouri Avenue in Glendale, Arizona and was purchased for $850,000.

 

 CONTACTS: 

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

Arleeny Escarcega · Account Coordinator 
O 949 438 6262

Brower Group, Inc. 
The Smart Agency™ for Smart Clients who want Smart Work 
220 Newport Center Drive, Suite 22 · Newport Beach, CA 92660

Email · Website · Facebook · Twitter · Instagram

www.daumcommercial.com.