 |
| Melissa Trubatisky |
|
CONTACT:
Cathie Beck
303.241.0805
cathie@capitalcitypr.com
marketing@alliantnational.com
Friday, June 25, 2021
Melissa Trubatisky hired as Underwriting and Escrow Training Coordinator for the Southwest Region at Alliant National
JLL closes the largest single-asset apartment transaction in Colorado history at $435 million
 |
| Pamela Koster |
DENVER, CO – JLL’s Capital Markets team announced it closed the $435 million sale and $282.75 million financing for the Palomino Park Apartments, a 1,184-unit, upscale apartment community in the Highlands Ranch submarket of southeast Denver.
 |
| Matthew Lawton |
JLL represented the seller, Nuveen Real Estate, to complete the sale. JLL also represented an undisclosed buyer to secure the financing.
The purchase price makes the sale the largest single-asset apartment trade in Colorado's history.
The 1,184 apartments are part of a 106-acre master planned community. The apartments are arranged in three separate "villages," Blue Ridge, Green River and Red Canyon, each with its own identity and individual 4,000-square-foot clubhouse.
The purchase also includes access to a 26,000-square-foot recreation center, the Colorado Club, that sits on a 30-acre central park within the community and serves as an amenity for the three apartment villages as well as the two, for-sale owner-occupied villages.
 |
| Jordan Robbins |
In addition, the opportunity exists to upgrade the Colorado Club, offering an ample value-add opportunity for the buyer to continue renovating the property to enhance the unique setting and characteristics of this legacy community.
Located at 6700 Palomino Pkwy., the property is positioned in an extremely sought-after suburban location with strong demographics and a large demand for high-quality rental housing.
Palomino Park also benefits from its close proximity to Colorado’s largest employment concentration, the Southeast Business Corridor, which is comprised of the Denver Tech Center, Greenwood Plaza Business Park, Meridian International Business Park and Ridgegate and collectively contains over 33 million square feet of office space and employs more than 240,000 people.
 |
| Andy Scott |
The JLL Capital Markets team representing the seller was led by Executive Managing Director Matthew Lawton, Senior Managing Director Jordan Robbins and Managing Director Pamela Koster. Financing was led by Senior Managing Directors Andy Scott and Whitaker Johnson and Director Robert Bova.
“With its low-density environment, unique floor plans and unmatched amenities, Palomino Park is truly irreplaceable and represents one of the premier and unique multi-housing assets on the entire west coast,” said Robbins.
 |
| Whitaker Johnson |
The firm's in-depth local market and global investor knowledge deliver 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 JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
 |
| Robert Bova |
JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of March 31, 2021.
JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Natalie Passarelli
JLL Senior Associate
Public Relations
Phone: +1
224 477 7307
Email: Natalie.Passarelli@am.jll.com\
Sunday, June 20, 2021
BLT Enterprises Announces Repositioning of Iconic Hollywood Creative Campus
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| The Hollywood Exchange, previously known as Television Center, includes 11 buildings spanning 6.4 acres in the Hollywood submarket of Los Angeles, CA |
HOLLYWOOD, CA – BLT Enterprises, a multi-faceted commercial real estate development and investment company, has announced the repositioning of its recently acquired 200,000 square-foot creative campus, which the firm has rebranded as The Hollywood Exchange.
 |
| Bernard Huberman |
In conjunction with this repositioning, the firm is upgrading the campus through strategic interior, exterior, and landscape renovations, according to Bernard Huberman, Founder and President of BLT Enterprises.
“This ‘Crown Jewel’ asset, which was the original Technicolor headquarters, embodies rich and iconic Hollywood history while presenting opportunities to improve and modernize the space for today’s ‘techtainment’ tenant needs,” explains Huberman, noting that some office suites were already recently renovated by prior ownership.
“The campus is located within the Hollywood Media District, which is undergoing a revitalization and attracting a range of tech and media companies. The new name we’ve given the property, The Hollywood Exchange, represents the ongoing convergence of these industries in the area.”
 |
| Above: A major renovation of the first two floors of the main building of office suites |
Upgrades include the continued conversion of outdated spaces into modern creative office, a major renovation of the first two floors of the main building of office suites including the lobby and common areas, and new paving, landscaping, lighting, and murals to transform The Hollywood Exchange’s ample outdoor space into unique amenity spaces.
 |
| Brad McCoy |
BLT is also repainting the exteriors with shades of gray to freshen the overall look, while preserving and enhancing the classic, recognizable decorative moulding with accent paint, adds Huberman.
“All of our renovations are strategically aligned with maintaining the tradition of the property, while ensuring we are delivering the quality workspace and state-of-the art amenities today’s TV, film and digital production tenants, as well as innovative tech and design professionals, have come to expect,” continues Huberman.
 |
| Dylan Mahood |
“At The Hollywood Exchange, tenants are able to occupy suites, bungalows, and entire buildings, as well as explore new development opportunities,” says Huberman.
“With many businesses still navigating what workspaces will look like in a post-pandemic world, this is an ideal time for us to begin collaborating with existing and potential tenants to create safe, efficient, inspiring, and flexible spaces to fit their needs.”
 |
| Conor Wiecking |
Brad McCoy, Dylan Mahood, and Conor Wiecking of Lee West LA are the exclusive listing agents and consultants for The Hollywood Exchange. They can be reached at bmccoy@leewestla.com or 310.905.5807.
More details can be found at www.hwexchange.com.
Contact:
Elisabeth Manville
Brower Group
(949) 438-6262
Saturday, June 19, 2021
Apartments in sought-after Portland, OR submarket purchased for $28.2 million
 |
| Carrie Kahn |
PORTLAND,
OR – JLL Capital Markets
announced it has
closed the $28.2 million sale of the Preserve at Sunnyside,
a 108-unit value-add multi-housing community located in the sought-after
Clacakamas submarket of Portland, Oregon.
JLL marketed the property
exclusively on behalf of the seller, Hamilton
Zanze, to complete the
sale to the buyer, RISE Properties Trust.
 |
| Preserve at Sunnyside apartments located at 13300 SE 122nd Avenue in the Clacakamas submarket of Portland, OR |
The JLL Capital Markets team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.
“The
Preserve at Sunnyside’s location in Happy Valley and recent capital
improvements to the property’s exterior make it ideal for a value-add
strategy,” said Virden.
 |
| Frank Solorzano |
“It is no surprise that Happy Valley and Clackamas are seeing high levels of investor demand. The submarket has been a strong performer, even throughout the pandemic. Population growth surpassed 32% over the past five years, while apartment supply increased only 8%.”
“We are glad to pass along this
community to another owner who will benefit from the thriving submarket,
desirable location, and the substantial improvements we made to units and amenities
over our seven years of ownership,” said Anthony Ly, Director of
Dispositions for Hamilton Zanze.
Built in 1991, the Preserve at
Sunnyside comprises nine garden-style residential buildings with a mix of one-,
two-, and three-bedroom units averaging 1,025 square feet.
The pet-friendly community features an outdoor pool and spa,
clubhouse with full kitchen, covered parking, a dog park and a playground.
Anthony Ly
The property has been partially renovated,
leaving an opportunity for new ownership to complete renovations and capitalize
on the submarket’s substantial rent growth.
For more news, videos and research resources on JLL, please visit our newsroom.
CONTACT:
Natalie Passarelli
JLL Senior Associate
Public Relations
Phone: +1
224 477 7307
Email: Natalie.Passarelli@am.jll.com\
Daum Commercial Represents Alere Property Group in Acquisition of Prime Industrial Warehouse Site in Los Angeles County, CA
 |
| 4433 Pacific Boulevard, a 33,400-SF, Class A industrial warehouse, West Vernon, CA |
DAUM represented both the buyer, Alere Property Group, one of the largest and most active developers and investors of industrial real estate in Southern California, and the seller, a private investor, in the off-market transaction.
 |
The distribution warehouse was built in 2005, features a contemporary design and includes 8,800 square feet of mezzanine office space, five dock-high doors and a secured fenced yard. Clear height ranges from 28 to 30 feet. |
“An available property of 4433 Pacific Boulevard’s size and quality is a rare find in west Vernon, a highly-desirable industrial submarket due to its proximity to Downtown Los Angeles and access to the region’s freeway network,” said Jerry Sackler, executive vice president at DAUM Commercial Real Estate Services.
“Alere moved quickly to acquire the asset, which is
occupied by a strong credit tenant and provides immediate cashflow. Our team is
pleased to have facilitated the transaction on behalf of Alere as the firm
continues to bolster its presence in the Los Angeles market and add to its
established portfolio.”
 |
| Jerry Sackler |
“Drawing upon decades of experience working within this market on behalf of the region’s top industrial owners, our team was able to complete a quick close and a smooth transaction for all parties at a satisfactory price point,” says Sackler, who notes industrial vacancy in Vernon was 2.7% in Q1, according to a recent DAUM market report.
“Alere owns several assets in Vernon, and
the qualities of 4433 Pacific Boulevard fit well into our portfolio of
well-located, best-in-class assets that are easily accessible to the ports,”
said Alan Carmichael, senior vice president of investments at Alere.
“With a strong knowledge of the highly-competitive Commerce-Vernon
submarket, our team was eager to invest in this top-tier asset, and we are grateful
to the DAUM team for its swift work in helping us get the deal done.”
CONTACTS:
Arleeny Escarcega / Elisabeth
Manville
Brower
Group
(949) 438-6262
aescarcega@brower-group.com
Harvard Investments Sells Commercial Pads at Cadence at Gateway in East Mesa, AZ to Thompson Thrift Retail Group
 |
| Stephanie Davis |
MESA, AZ – Harvard Investments, an Arizona-based real estate investment and development company is in escrow to sell two commercial pads within its Arrival at Cadence commercial center to Thompson Thrift Retail Group (TTRG), a wholly-owned company of Indianapolis-based Thompson Thrift.
 |
| Ed Beeh |
Cadence at Gateway, a vibrant 444-acre master-planned community in Mesa, Ariz. is located at the southeast corner of Ellsworth and Ray Roads, along the bustling Mesa Gateway corridor.
The two commercial pads are located opposite
each other on the
north and south sides of Cadence Parkway at the main entrance of
the intimate master-planned community.
 |
| Mike Polachek |
“Thompson
Thrift is bringing highly-anticipated retailers to our vibrant community and
responding to Cadence residents’ requests for a variety of high-quality dining
and retail options to enhance their lives,” said Tim Brislin, vice
president of Harvard Investments.
“We are proud to partner with Thompson Thrift
at Cadence as they share our vison for this area’s potential.
 |
| Tim Brislin |
When Arrival at Cadence is fully built out, the
center is planned to have approximately 130,000 square feet of commercial
space consisting of approximately 20-25 diverse businesses.
The first sales at Arrival happened in late 2020
to Mountainside Fitness and QuikTrip (QT). Mountainside is under construction
and intends to open in the fall of 2021.
QT intends to break ground in July 2021.
Additional operators coming to Arrival include Black Rock Coffee Bar, Burger
King and McDonald’s. Approved uses include retail, restaurants including quick
service, sit-down and fast food, medical and offices.
 |
| Chris Hake |
“We’re proud to be 100 percent pre-leased prior
to closing in an area of Mesa that continues to see strong growth as evidenced
by the rapid sales of remaining homes at Cadence at Gateway. We look forward to
adding additional best-in-class retailers to this project.”
This
is the 28th project for TTRG in the Southwest since opening a Phoenix office in
2016. In addition to the Cadence development,
TTRG’s 2021 Southwest pipeline is projected
to include over $200 million in volume across the Phoenix metro area, including
planned projects in Glendale, Gilbert, Tempe, Peoria, Maricopa, Tucson, Casa
Grande and Peoria.
 |
| Planned Arrival at Cadence commercial center East Mesa, AZ |
Cadence at Gateway is 444-acre master-planned
community in Mesa’s magnetic Gateway corridor. Residents enjoy charming
neighborhoods, abundant parks and a trail system that seamlessly connects the
walkable community.
Phase 1 is sold out and Phases 2 and 3 are experiencing enviable success in home sales. Cadence homes surround the community’s newly built elementary school as well as resort-style pools, basketball, tennis and bocce ball courts, all found at The Square, the popular community amenity center which comprises fitness facilities, a game room and meeting spaces.
Find
out more about Cadence at Gateway and what makes it the premier residential
project in Arizona by visiting https://cadenceaz.com/, or
follow us on Facebook, Instagram and LinkedIn.
MEDIA CONTACTS:
Heather Austin – The Ferraro Group Phoenix
(For Harvard Investments)
602-738-9252 cell
Jennifer Franklin – Spotlight
Marketing Communications, Inc.
(For
Thompson Thrift Retail Group)
(949)
307-6331 cell
Heather Miles Austin, Director
The Ferraro Group Phoenix
120 N. 44th St. #310
Phoenix, AZ 85034
c. 602.738.9252
Washington
D.C. – 202.355.9466
Las
Vegas – 702.367.7771
Reno – 775.331.4555
https://www.thompsonthrift.com/
http://www.harvardinvestments.com.
