Madison Realty Capital Provides $30 Million Inventory Loan for Two Luxury Condominiums at Metropica in Sunrise, FL

 

Melissa Rose

 NEW YORK, NY –– Madison Realty Capital, a fully integrated real estate private equity firm focused on debt and equity investment strategies, announced it has provided a $30 million first mortgage loan to Metropica Development for a luxury condominium tower and a ten-acre development site, which includes plans to develop a second 250-unit multifamily tower.

 The portfolio is part of Metropica, a four million-square-foot master planned community comprised of luxury residences, modern office towers and high-end retail offerings located in Sunrise, Florida.

Joseph Kavana

 Melissa Rose of JLL Capital Markets arranged the financing from Madison Realty Capital.

 Metropica Development, led by Joseph Kavana, began construction of the first 263-unit luxury condominium tower in 2017 and has sold 174 units to date.

 Madison’s loan will be used to support 89 units, representing 101,989 square feet on the upper floors of the first condominium tower as well as the adjacent 250-unit second condominium tower.

Josh Zegen

 In addition to the first tower, the Metropica master planned development will include 500 multifamily units, 550,000 square feet of commercial space for luxury retail, dining and entertainment destinations as well as 246 hotel keys.

 “We are pleased to deliver a customized and flexible financing solution for the remaining condo inventory in the Metropica Development,” said Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital.

Metropica Tower One, Sunrise, FL

 “Madison’s ability to finance residential projects through every stage of development was highly attractive to Metropica, an experienced local development firm, and we look forward to working with Joseph and his team to support this unique and ambitious project.”

 Located at 2000 Metropica Way, adjacent to the Sawgrass Mills shopping mall and BB&T Center, the 28-story Metropica Tower offers luxury residences with an average of 1,034 square feet, top-of-the-line finishes and high-concept designs from Oppenheim Architecture and YOO Studio.

 The tower’s resort-style amenities consist of a saltwater swimming pool, lounges, movie theater, fitness center, massage and yoga centers, and a children’s playroom.

 CONTACTS:

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

            and

 Nathaniel Garnick/Grace Cartwright

Gasthalter & Co.

(212) 257-4170

madisonrealty@gasthalter.com

 Also see Madison Realty on LinkedIn and visit www.madisonrealtycapital.com.

 

M/I Homes to Build 55 Homes in Winter Garden’s Tilden Place

 

Grand Series in Tilden Place at Winter Garden, FL

WINTER GARDEN, FL – M/I Homes started developing 55 homesites in Tilden Place at Winter Garden, a gated community situated between Winter Garden Vineland Road and County Road 429.

As one of the last home-buying opportunities on Tilden Road , sales of new construction  homes on sites with pond views and those backing to private conservation area will begin in June, according to David Byrnes, M/I Homes’ Area President. 

“We’re building two distinct product lines in Tilden Place at Winter Garden, with prices from the mid $400,000s to high $700,000s,” Byrnes said.

Grand Series in Winter Garden’s Tilden Place
priced from the mid $400,000s to high $700,000s

“We offer spacious, flexible floorplans, as well as numerous decor options and exterior features. And, we provide peace of mind in the form of a 15-year transferable structural warranty.”

M/I Homes’ Grand Series – built on 80-foot wide homesites – will allow homebuyers to choose from seven floor plans that range from 2,818 to more 4,500 square feet and boast from three to six bedrooms, three to five baths and either three- or four-car garages.

David Byrnes

The Eco Series will feature six different floor plans – which start at 1,857 square feet – that are comprised of three to five bedrooms, two to four baths and both two- and three-car tandem garages constructed on 50-foot-wide lots.

Many of M/I Homes’ single-level floor plans offer optional bonus rooms, and homebuyers can choose to have the owner’s suite either up or downstairs in some two-story plans, Byrnes said. “Or, you can build your dream home with two full owners’ suites.”

“The architectural style here is a combination of craftsman and traditional Florida design,” Byrnes said, adding that multiple elevations offer front porches, and spacious lanais and balconies. 

  CONTACTS:

Beth Payan

Larry Vershel Communications Inc

2433 Lee Road

Winter Park, FL 32789

407-644 4142 (main)

407-461 3781 (cell)

 

 David Byrnes

 area president,

M/I Homes,

 407-531-5100 

 

www.mihomes.com

 

 

KAI Promotes Michelle Huber to Vice President of Finance

Michelle Huber 

 

 St. Louis, MO --  KAI Enterprises proudly announces the promotion of Controller Michelle Huber to Vice President of Finance. Huber joined KAI in October 2019.

 

In her new leadership role, Huber will provide full financial oversight of both the construction and professional service business units at KAI, plus lead all aspects of the company’s budgeting and forecasting.

Brad Simmons

 

“We are absolutely thrilled to have Michelle take on the newly consolidated role as Vice President of Finance," said KAI Managing Partner Brad Simmons, FAIA. 

 

 "She brings an acute understanding of accounting process and procedures but is able to temper and balance with her experience and background in the A/E/C industry.”

 

Huber has 11 years of industry experience, having previously worked as a Controller at Kaskaskia Engineering Group in Belleville, Illinois and as a Senior Tax Accountant at Brown Smith Wallace in St. Louis.

 Michael Kennedy, Jr.

“Having Michelle step into her new role has been a real boost of energy. She is proactive, brings a holistic understanding of corporate financials, works seamlessly and effectively with our entire leadership team—and most importantly, Michelle is unafraid to challenge and push for answers,” said KAI CEO Michael Kennedy, Jr.

 

 “As CEO, I need a collaborative partner. Someone that tells me what I need to hear, not what I want to hear. Michelle is that partner and has quickly blended in well with our company leadership. We are fortunate to have Michelle at KAI.”

 

She has a Bachelor of Science in Accounting from Southern Illinois University Edwardsville and an MBA from McKendree University in Lebanon, Illinois.

 CONTACT:

 Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

Phillips Nizer New York Adds Four Real Estate Partners from Brill & Meisel

Lisa R. Radetsky

New York, NY (June 1, 2021) – Phillips Nizer LLP is pleased to announce that the partners at Brill & Meisel, a leading New York real estate practice with a specialization in cooperative and condominium law, have joined Phillips Nizer’s New York office.

Amanda Benishai

Allen H. Brill and Elliott Meisel, who founded Brill & Meisel in 1979, partners Mark Axinn and Christopher Aldridge, and associate Amanda Benishai are joining forces with one of New York’s top real estate teams, including real estate practice co-chairs Marc Landis and Lisa Radetsky, real estate partners Jay Kim and Thomas Fuerth and land use and government relations co-chairs Christian Hylton and Kevin McGrath.

 Mark Axinn 

Mr. Landis, the firm’s managing partner, said, “Having worked collaboratively with one another for years, we are happy to welcome the Brill & Meisel attorneys to Phillips Nizer.

"They are highly respected in the real estate and co-op/condo field and allow us to expand our full-service offerings to our current and future clients.”

“Residential real estate in New York continues to be extremely active," said Ms. Radetsky.

  "The representation of cooperatives and condominiums is an integral component of our real estate practice. The Brill & Meisel team is a welcome and valuable addition to our firm.”

Christopher Aldridge

Mr. Axinn, who has been appointed as chair of the cooperative and condominium practice at Phillips Nizer, added, "I am delighted for this opportunity to continue to provide our existing clients with the same high-caliber counsel that they require.

"As members of Phillips Nizer, we now are able to expand the services we provide both to them and to future clients of the firm as well.”

Mr. Axinn represents cooperative and condominium associations, sponsor/developers, holders of unsold shares and individual property owners and businesses.

Allen H. Brill 

A graduate of Columbia College and Fordham Law School, he performs all aspects of cooperative and condominium association practice and also has extensive commercial litigation experience. 

Mr. Brill, a graduate of Columbia College, Columbia Business School and Columbia Law School, represents individuals and businesses in the purchase, sale and leasing of cooperatives, condos, buildings, residential, office and retail spaces.

 His litigation work includes commercial and contract disputes, construction issues, real estate disputes and challenging real estate tax assessments.

Elliott Meisel

Mr. Meisel, a graduate of Cornell University and Yale Law School, represents numerous New York cooperatives and condominiums in all aspects of their operations including financings, alterations, contract negotiations and the development and implementation of policies and shareholder and owner relations.

Mr. Meisel, a nationally recognized authority in cooperative and condo law, has converted many buildings to cooperative and condo ownership and represented tenant associations in connection with the conversions of their buildings sponsored by others.

Marc A. Landis
 

He also represents owners and investors in all aspects of their real estate ownership, including optimizing their portfolios through the sale of air rights, Section 1031 exchanges and Opportunity Zone investments.

Mr. Aldridge represents clients in a broad range of residential and commercial real estate matters, including hundreds of purchases, sales and financing of all types of properties.

A graduate of Hofstra University and Fordham Law School, his experience includes representing boards of associations in general corporate governance, mortgage refinancing, contractor and architect agreements and shareholder and unit owner disputes.

Jay H. Kim

Ms. Benishai, a graduate of Yeshiva University’s Stern College and New York Law School, is a real estate litigator focusing on commercial landlord-tenant disputes and cooperative corporation matters.

About Phillips Nizer LLP 

                                          
Phillips Nizer, founded in 1926, represents domestic and international clients in business; finance and real estate transactions;

Also: intellectual property matters; commercial litigation; labor and employment matters; matrimonial and family law; 

Also: tax and estate planning, with a particular focus on the entertainment, fashion, real estate and technology industries.

  

Thomas L. Fuerth

Phillips Nizer’s principal office is in Manhattan, with additional offices in New Jersey and an international branch office in Geneva, Switzerland.  

The firm is a member of Ally Law, a worldwide network of independent, midsized law firms.

Christian B. Hylton 

Kevin McGrath

CONTACT:

Keith Emmer 

keith@startegixmedia.com

 www.phillipsnizer.com. 

Pendulum Property Partners Acquires 'The Link' in the Heart of Burbank’s Media District

 

Laura Stumm 

 

Los Angeles, CA (June 1, 2021) – Pendulum Property Partners (Pendulum), a fully integrated commercial real estate investment firm based in Southern California, has officially acquired 2901 W Alameda Avenue (“The Link”) in Burbank, California in the nexus of Burbank’s exclusive Media District. 

2901 W Alameda Avenue (“The Link”), Burbank, CA

 

The purchase of this 124,785 square foot property demonstrates the company’s commitment and approach to the region, marking its first Los Angeles acquisition since opening the LA office in September 2020.  

Dan Wagman

“This is a key acquisition for Pendulum in the post-COVID environment and an exciting first deal for our LA office,” said Dan Wagman, Partner of Pendulum Los Angeles.

 

 “The Property is an amazing home for media and post-production users seeking state-of-the-art facilities at main-and-main in Burbank, one of LA’s – and the country’s – strongest submarkets.”

 

The Link is proximate to more than 640 acres of motion picture and television studio lots and 700 media-related companies (including Warner Bros., Disney, Comcast’s NBC Universal, DreamWorks, Netflix, and others).

Kevin Hayes

The property recently underwent an extensive $5.9 million renovation providing an ideal blend of Class A creative office space and best-in-class post-production, broadcasting, screening, and editing facilities.

 

The Property also boasts the following features:

• Enterprise-grade dark fiber optical connectivity, ideal for media companies
• High ceiling heights (13’ to 18’)
• Redundant power and above standard electrical service
• On-site parking at >3.0 / 1,000 square foot ratio
• State-of-the-art lobby
• 2,500 square-foot collaborative outdoor courtyard

Kevin Shannon

“The Link underscores Pendulum’s 2021 strategy to invest in high-quality commercial properties in highly sought-after locations that serve growing industries in need of state-of-the-art collaborative spaces,” says Kevin Hayes, Chief Executive Officer of Pendulum.

 

 “We believe in the Los Angeles market today and long-term and are excited to continue to grow our presence through further acquisitions.”

 

Currently, the Burbank Class A office market is the strongest and most resilient submarket in Southern California.

 

In June 2020, the film and television industry was deemed an essential service and studios ramped up production of streaming content, which rendered the majority of buildings 100 percent occupied.

Rob Hannan

Upon purchase, The Link was 76 percent occupied and Pendulum expects to fully stabilize the Property shortly.

While this is Pendulum’s first LA-based acquisition, the company’s overall acquisitions have totaled more than $850 million and nearly 2 million square feet since its founding in 2016.

 

The Newmark team of Kevin Shannon, Rob Hannan, Ken White, and Laura Stumm helped coordinate the sale, while the Newmark team of David Milestone and Brett Green arranged the financing.   

 About Pendulum Property Partners:

 Pendulum Property Partners (Pendulum) is a fully integrated, privately held real estate firm that owns, operates, develops, and manages commercial and multi-family real estate. 

Ken White

Led by an established team, Pendulum offers a wealth of experience delivered with high-touch, personalized service. Pendulum specializes in creating and executing upon value-add strategies utilizing its extensive real estate operating expertise.

 Pendulum services include: Acquisitions and Dispositions, Asset Management, Property Management, and Construction & Development. Its pricing discipline and keen understanding of the capital markets and market fundamentals enable it to create true investment value for its customers and partners.

 

CONTACT:

Stacey Kaszton Jones

President

STACEY@LAVOZMARKETING.COM 

+1 (213) 925 8177 

717 LIDO PARK DRIVE, SUITE D | NEWPORT BEACH, CALIFORNIA 92663

LAVOZMARKETING.COM | FACEBOOK.COM/LAVOZMARKETING | @LAVOZMARKETING

 

PendulumPP.com