JLL Capital Markets closed the sale of the 200-unit The Remington multi-housing community to GPI Investment LLC and arranged acquisition financing in Killeen, TX

 

 Nicole Fontaine

AUSTIN, TX – JLL Capital Markets announced it has closed the sale of and arranged acquisition financing for The Remington, a 200-unit, garden-style multi-housing community in the central Texas city of Killeen, Texas.

The Remington, a 200-unit, garden-style
 multi-housing community in the
central Texas city of Killeen, TX

 JLL marketed the property on behalf of the seller, NALS Apartments Homes. JLL worked on behalf of GPI Real Estate Opportunity Fund to originate the Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

Sean Sorrell

The Remington comprises one- and two-bedroom units ranging from 450 to 1,100 square feet. Units feature a ceiling fan, separate dining area and private patio/balcony with storage closets.

Select units feature a full-size washer and dryer, upgraded faux wood flooring and wood-burning fireplace. Community amenities include a seasonal swimming pool and sundeck, fitness center, off-leash dog park, car wash area, barbeque grills, business center and laundry facility.

 

Located at 1001 North Twin Creek Dr., The Remington is approximately 60 miles north of Austin, 50 miles southwest of Waco and 10 miles southwest of Temple in central Texas.

Steven Hahn Jr.

The property is just north of heavily traveled thoroughfares Highway 190 and Interstate 14, providing residents ease of access throughout Killeen and to nearby employment hubs. 

Just 15 minutes from the property is Killeen’s western neighbor, Fort Hood, the largest U.S. Army base in the world.

 There are currently 45,000 military personnel assigned to Fort Hood, with a civilian workforce over 20,000.

 Other major employers in the Killeen-Temple-Fort Hood MSA include the Scott & White Memorial Hospital, McLane Company, Killeen ISD, Texas A&M University-Central Texas, Metroplex Health System, City of Killeen, Atmos Energy, Westar Aerospace, Bell Glass, L-3 Communications, Pactiv Corporation and Wilsonart International.

Art Barnes

The JLL Capital Markets Investment Sales Advisory team representing the seller included Senior Managing Director Sean Sorrell, Senior Director Steven Hahn Jr., Director Art Barnes and Senior Directors Ryan McBride and Joe Dowdle. Analysts for the JLL team included Nicole Fontaine and Sam Nichols.

 The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Director CW Sheehan and analysts Matthew Ctvrtlik and Scott Dickey.

 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.

Ryan McBride

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.

  

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

About GPI Real Estate Opportunity Fund

 

GPI Real Estate Opportunity Fund is a private equity real estate investment fund focused on acquiring value-add and distressed assets.

Joe Dowdle

Through active management, the Fund will seek to invest in assets that provide the Fund with stable rental income and substantial capital appreciation.

 

The Fund is sponsored by GPI Capital which has over 12 years of experience in commercial real estate investment.

 

GPI Capital has invested in over 6,900 units of multifamily properties, one full-service hotel and three student housings.

 

Headquartered in Houston, Texas, GPI Capital is a vertically integrated real estate investment and management firm with complex understandings of acquisitions, asset management, and property management.

 

Sam Nichols

About NALS Apartments Homes

NALS Apartment Homes is a fully integrated real estate investment firm engaged in the acquisition, ownership, management, and rehabilitation of multifamily apartment communities. 

Headquartered in Santa Barbara, Calif., NALS owns and manages over 15,000 apartment homes geographically dispersed across 15 different markets.

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

CW Sheehan

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 $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021.

JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 

 

 

  

CONTACT:

  Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

gpi-investment.com.

 

Two New Communities, Vista at Everest and Vista at Interpark, Address Critical Need for Opportunity Housing in San Antonio, TX

 

Olivia Travieso

 

SAN ANTONIO, TX  – The San Antonio Housing Authority (SAHA), in partnership with OCI Development and an affiliate of Atlantic Pacific Communities (A|P Communities), announces the groundbreaking of two new affordable housing communities in San Antonio: Vista at Everest and Vista at Interpark.

 

 The properties will address a critical need for affordable housing in their neighborhoods, where more than 45 percent of renter households are paying more than 30 percent of their income on housing costs.

Timothy Alcott

The two communities will offer a combined 128 affordable apartment homes and construction is expected to be completed by Fall 2022.

 “The San Antonio Housing Authority is proud to partner with Atlantic Pacific to provide opportunity housing to residents working on the frontline,” said Timothy Alcott, Chief Legal and Real Estate Officer of The San Antonio Housing Authority.

 

“Opportunity housing at these two developments means rent is affordable for our teacher assistants, our customer service representatives, our construction laborers — the workforce backbone of our community.”

 

 "I recognize the value of having housing options available for retirees and working families," said Councilman John Courage, City Council District 9 for the City of San Antonio.

 "I will continue to utilize all available tools to increase housing affordability for both homeowners and renters. We look forward to welcoming Vista at Interpark to the community,” 

John Courage

“Vista at Everest is a step toward serving our need for high quality affordable housing in District 1. 

"I’m excited that construction is underway and look forward to the grand opening,” said Councilman Mario Bravo, City Council District 1 for the City of San Antonio.

 

“Advancing economic mobility in our community has long been a priority for Bank of America. One way we are able to support this mission is through intentional investments in affordable housing initiatives,” said Ventura Perez, President at Bank of America San Antonio.

 

 “Last year, the bank invested $124 million in affordable housing developments in the market, and we look forward to expanding that footprint through the Vista at Everest and Vista at Interpark communities.”

Ventura Perez

“Our families have been San Antonians for generations, and it gives us great pride to be contributing to the economic and housing development in our hometown," said Olivia Travieso, Partner and Co-Founder of OCI Development

 

"Our partner, A|P Communities, shares our same commitment to community-focused and relationship-based development, and desire to increase access and equity throughout the city.”.

Dan Wilson

“These two communities are a reflection of our steadfast commitment to bring high quality affordable housing to San Antonio,” said Dan Wilson, Senior Vice President of A|P Communities.

 

“It’s an honor to work with SAHA and OCI Development to make Vista at Interpark and Vista at Everest a reality and we look forward to the significant positive impact these communities will have on local residents and the surrounding neighborhoods.”

 

  

  CONTACTS:

  

Jessica Wade Pfeffer

 jessica@jwipr.com | 305.804.8424

 

Marianna La Riva

marianna@jwipr.com | 

954.471.0759

 

www.apcompanies.com.

Bank of America newsroom 

 

JLL exclusively marketing sale of historic Drake Hotel, offering unparalleled mixed-use redevelopment opportunity along Chicago’s prominent Magnificent Mile retail corridor

  

Drake Hotel is located at the intersection
 of two of Chicago's most prestigious
 shopping and entertainment districts,
North Michigan Avenue and Oak Street

CHICAGO, IL, Aug. 11, 2021 – JLL announced today that it has been retained to market for sale the iconic Drake Hotel in Downtown Chicago, Illinois, which offers a once-in-a-generation opportunity to redevelop one of Chicago’s most recognizable and prestigious landmarks.

 Amy Sands

 

 This is the first time in over 100 years that the controlling fee simple interest in the property has been offered for sale.

 

The property is owned by four separate entities subject to a tenant in common (TIC) ownership agreement.

Adam McGaughy

JLL’s Hotels & Hospitality and Capital Markets groups are representing the two majority TIC members which, combined, own a 90% fee-simple interest in the Hotel. 

The remaining 10% interest is being concurrently marketed by another advisor. 

 

The Drake Hotel is being offered unencumbered of brand and management, offering maximum flexibility to reposition one of Chicago’s most sought after sites into its highest and best use.

 

The historic hotel, which opened in 1920, features unobstructed views of Lake Michigan and is located at the intersection of two of the city’s most prestigious shopping and entertainment districts, North Michigan Avenue and Oak Street. 

 Jeffrey (Jeff) Bramson

The 535-room hotel boasts nearly 220 feet of linear retail frontage along North Michigan Avenue, 36,900 square feet of flexible meeting space and various food and beverage options, including Coq D’Or, Café on Oak, Palm Court and a coffee bar.

 

The renovation and redevelopment of this historic asset would restore the hotel to its former glory, allowing it to, again, compete with the city’s most luxurious hotels while creating or enhancing ancillary uses like the retail space and the potential creation of residential units.

 

The JLL Hotels & Hospitality and Capital Markets team representing the seller is being led by Senior Managing Directors Adam McGaughy, Jeff Bramson and Danny Kaufman; Managing Directors John Nugent, Mark Stern, Amy Sands and Tom Kirschbraun; and Vice President Mark Jindra. 

Daniel (Danny) Kaufman

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide.

The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.

 Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 

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

 

John Nugent

 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 $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021.

 JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Mark Stern

 

 CONTACT:

 

Natalie Passarelli

JLL Public Relations

Phone: +1 224 477 7307

Email:  Natalie.Passarelli@am.jll.com

 

 

 jll.com.

 

KAI Design Hires Project Architect Morgan Robinett

 

Morgan Robinett

 

St. Louis, MO, Aug. 10, 2021 -- KAI Design is excited to announce the hiring of Project Architect Morgan Robinett, AIA, NCARB, at its St. Louis office.  

 

As Project Architect, Robinett is responsible for producing construction documents through collaboration with a multi-discipline team to maximize the use of resources to enhance design and build collaboration, in turn improving the value-added building strategies.

Brad Simmons

“Morgan is a terrific addition to our Architectural team in St. Louis. She brings a diverse portfolio and wonderful enthusiasm for design excellence,” said KAI Managing Partner Brad Simmons, FAIA “Morgan has hit the ground running, and we already see her solid work ethic and collaborative approach with colleagues. 

 

"KAI is excited to add talent like Morgan to our fast-growing design studios.”

 

Robinett has a Bachelor of Science in Interior Design from the University of Missouri in Columbia and a Master of Architecture from the University of Kansas. 

 

During her spare time, Robinett enjoys volunteering for Lead to Read KC, painting, pottery and woodworking.

 

CONTACT:

 

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

Peachtree Hotel Group Acquires More Than $1 Billion of Stressed and Distressed Assets

Greg Friedman

 ATLANTA, GA, Aug. 10, 2021 – Peachtree Hotel Group (“Peachtree”), a real estate private equity investment firm, announced that it had acquired more than $1 billion in stressed and distressed real estate assets since June 2020. 

“We have capitalized on the dislocation created by the pandemic with investments in assets at a lower cost basis than pre-pandemic pricing,” said Greg Friedman, Peachtree’s CEO.

“Our strategy of opportunistically pivoting as the markets change allows us to capitalize on investments during any cycle.”

Peachtree has focused on investing in opportunistic real estate in distressed, under-capitalized or underperforming hospitality assets throughout the U.S. because of the disruption in the economic environment brought on by the pandemic.

The company acquired, operated and disposed of equity interests during this period and invested in preferred equity, debt or debt-like positions in primarily premium-branded, limited- and select-service hotels.

“We have been able to draw on our team’s deep experience, longstanding relationships and ability to navigate changing dynamics to source investment opportunities," Friedman said.

"The current landscape has potentially widened our opportunities for attractive undercapitalized assets and assets within the hospitality sector experiencing increasing demand.”

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

 

 

Charles Talbert

678-823-7683

ctalbert@peachtreehotelgroup.com

 

 

www.peachtreehotelgroup.com.