Tuesday, November 2, 2021

Trion Properties Strengthens Foothold in Denver, CO Market with Acquisition of 418-Unit Multifamily Community

Loft 9 Apartments,
 
 a 418-unit multifamily community
 in Denver, CO
 

 DENVER, CO – Trion Properties, a private equity real estate firm based in West Hollywood, California and Miami, Florida specializing in multifamily investments, along with equity partner, PCCP, LLC, an investment manager, has acquired Loft 9 Apartments, a 418-unit multifamily community in Denver, Colorado, for $82.5 million.

 The acquisition more than doubles the firm’s holdings in the Denver metro area, bringing its portfolio to over 700 units since entering the market last year, and over 1,100 in the state of Colorado, according to Max Sharkansky, Managing Partner at Trion Properties.

 

Max Sharkansky

 “This was an exceptional opportunity to acquire a well-located community off market, which we were able to secure based on our established broker relationships and a unique situation that presented itself,” explains Sharkansky

 Loft 9 Apartments consists of five buildings and features spacious one- and two-bedroom homes.

 Commuity amenities include a resort-style pool, state-of-the-art fitness center, business center, resident clubhouse, resurfaced sport courts, and upgraded outdoor areas.

 The property is located at 11100 Dartmouth Avenue in Denver, Colorado.

 

Contacts:

 

Lara Sassounian / Elisabeth Manville

Brower Group

(949) 438-6262

lsassounian@brower-group.com

KAI Hires Director of Electrical Engineering Tobin Ezekwesili in Dallas-Fort Worth Office

Tobin Ezekwesili
 

 St. Louis, MO -- KAI is excited to announce the hiring of Tobin Ezekwesili, MBA, PE as Director of Electrical Engineering at its Dallas-Fort Worth office.  

 As Director of Electrical Engineering of the DFW office, Ezekwesili is responsible for the overall economic well-being of assigned projects.

 

He comes to KAI with more than 15 years of engineering experience, having successfully completed projects in commercial, healthcare, K-12 and higher education markets.


“We are thrilled to have another senior industry talent like Tobin join our KAI Engineering team,” said KAI Managing Partner Brad Simmons, FAIA. 

Brad Simmons

“Tobin’s broad range of project experience, his background and portfolio of highly-complex technical projects—coupled with his personal energy and passion to produce great engineering design are a homerun for KAI. He’s a wonderful fit for our culture and already making a difference.”

 Prior to KAI, Ezekwesili was a Senior Associate Engineer at Syska Hennessy in Dallas. He also previously worked as Electrical Project Manager at B&H Engineers in Irving, TX and Electrical Engineer at Summit Consultants in Dallas.

 

He has a Bachelor of Science in Electrical Engineering and a Master of Business Administration with emphasis in Engineering Management from the University of Texas at Arlington and is a licensed Professional Engineer in both Texas and Arizona.


Ramona Nicula
 

“Tobin is a natural leader who works hard to help everyone in the group succeed. His technical and interpersonal abilities are a great fit, and our electrical team has only gotten stronger with his addition,” said KAI Engineering Design Principal Ramona Nicula, PE.

 

Originally from Nigeria, Ezekwesili enjoys playing soccer and basketball, working out and reading during his spare time. He is also passionate about volunteering at local shelters during the holidays.

 

Contact:

 

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

 

www.kai-db.com.

 

KAI Enterprises Recognized for Diversity and Inclusion by Associated General Contractors of America

 Michael Kennedy, Jr.

 St. Louis, MO -- The Associated General Contractors of America (AGC) has honored minority-owned design and build firm KAI Enterprises for championing a diverse workforce and inclusive environment with its 2021 Diversity & Inclusion Excellence Award in the Mid-Size Contractor Category. 

 

KAI CEO Michael Kennedy, Jr. accepted the award at the organization’s national convention on Sept. 23 in Orlando, FL.


“KAI is and has been an advocate for creating inclusive communities and is clearly dedicated to increasing diversity in their staff and workforce. KAI’s D&I efforts are a part of their core values and can be seen in their corporate processes,” according to statements from the D&I Awards judges.

 “It is exciting to see companies like KAI continue to embrace and implement D&I efforts as not the ‘right thing to do’ but rather as a key element for the organization's success.”

 

The AGC Diversity & Inclusion Excellence awards honor AGC members that are champions in advancing diversity and fostering a culture of inclusion within their workforce, supply chain and in the communities they serve

 

CONTACT:

 

Jennifer Beidle

314-607-9459

jennifer@jbeidlepr.com

Three-property core medical office portfolio in Charlotte,NC trades for $31.4 million

Mindy Berman
  

BOSTON, MA – JLL Capital Markets has closed the $31.4 million sale of a three-property, core medical office portfolio totaling 72,499 square feet in Charlotte, North Carolina.

 JLL marketed the portfolio on behalf of the seller, The Keith Corporation (TKC), a privately held, full service commercial real estate firm headquartered in Charlotte, North Carolina.


Pete Pittroff
TKC is a preeminent healthcare developer in the Southeast, developing more than 35 healthcare related projects.

The purchaser is Chicago, IL-based Remedy Medical Properties (“Remedy”), the largest private owner of medical properties in the United States.


 The portfolio consists of Mission Hospital McDowell Medical Office Building at 430 Rankin Dr. in Marion; Steele Creek Medical Office Building at 13425 Hoover Creek Blvd. in Charlotte and Tryon Medical Partners – Matthews at 630 Matthews Township Pkwy in Matthews.

The two single-tenant and one multi-tenant facility are 97% leased overall to leading regional and national healthcare providers, including health systems, Novant Health and Mission Health (HCA), and major area physician practice groups, Tryon Medical Partners and Charlotte Radiology.

Brannan Knott 
Two of the three properties were recently constructed or renovated by The Keith Corporation and offer state-of-the-art medical facilities such as surgery centers and advanced diagnostics; the Steele Creek property was jointly developed by The Keith Corporation and Sportsmed Properties.

 

The portfolio is located throughout high growth submarkets of Charlotte, which have seen upwards of 20% population growth since 2010, which is driving outsized demand for healthcare services through the region.

  More than $1 billion in new hospital facility construction in Charlotte illustrates this demand for services and is paralleled with expansion in outpatient care in key locations throughout the region.

Daniel Flynn
The JLL Capital Markets team representing the seller was led by Senior Managing Director and Co-head of the Healthcare Practice Group Mindy Berman, Senior Managing Director Pete Pittroff, Senior Director Brannan Knott and Director Daniel Flynn.

 


“The Keith Corporation offering was highly-sought after by investors given the swell in investment appetite for medical properties during the global pandemic,” said Berman.

“The Charlotte properties exemplified the most appealing qualities that institutional investors seek – solid tenancy from dominant healthcare providers, location in a desirable high-growth U.S. metro and new construction with nearly 13 years of average remaining lease term.”

 

Mission Hospital McDowell Medical Office Building 

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 and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 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

JLL Senior Manager

 Public Relations

Phone: +1 617 848 1572

Email:  Kristen.Murphy@am.jll.com

 

Saturday, October 30, 2021

Jackson State University Receives First-Ever Endowed Real Estate Studies Scholarship in History of Institution Established by Commercial Real Estate Executives John Crossman and John Michael Holtmann

ENDOWMENT:

 From left:  John Michael Holtmann, Mississippi Governor Tate Reeves, Thomas K. Hudson, J.D., President of JSU and John Crossman, CCIM CEO of Crossman Career Builders.

 

Jackson, MS --  Jackson State University is the recipient of the first-ever real estate scholarship at the HBCU established by esteemed commercial real estate executives and business leaders John Crossman and John Michael Holtmann, who also have long family histories in Mississippi.


John Crossman

 Qualifying students will have an equal opportunity to pursue a real estate education by applying for funds from the $25,000 endowed scholarship that will help cover the cost of tuition, fees, books, supplies, and other expenses without a heavy student loan burden.

John Michael Holtmann

 Holtmann is a Mississippi State University alumnus and principal of Holtmann Properties in Jackson .

 Crossman is an alumnus of Florida State University and CEO of Crossman Career Builders, which he founded last year to continue the mission he started two decades ago as CEO of one of Orlando 's most successful Commercial Real Estate firms.

Thomas K. Hudson

 That mission was to provide more opportunities for minorities in the Commercial Real Estate industry. 

 "Working in commercial real estate can help a person develop skills to buy property, which can build personal wealth, but a real estate education has been traditionally hard to access for minorities who haven't been given opportunities to own property," Crossman explained.

 Holtmann shared his appreciation for the people that he learned from when he initially started in the industry. "They helped shape my business.  Now I'm excited to give back to the next generation by helping equip them to make a difference," he said.

Mississippi Gov. Tate Reeves

  "The Holtmann Crossman Endowed Fund is a game-changer for our students now and future generations.  We are very fortunate to benefit from the vision, support and commitment of these two business leaders," said Thomas K. Hudson, president of JSU.  

 JSU marks the fourth HBCU Crossman, his family and firms have supported. They also have minority-focused real estate endowed scholarships at FSU, UF, and Valencia College for students from diverse demographic and socioeconomic backgrounds. 

Jackson State University entrance, Jackson, MS

 Holtmann is also a Partner in Concord Capital, a real estate investment company which owns assets in three states as well as being an affiliate broker with Duckworth Realty, a brokerage in Jackson where he manages the company's retail division.

 "An education in commercial real estate will not only provide these scholarship recipients a pathway to rewarding careers in a limitless industry but will also open doors for positive impact in their communities," Holtmann said.

 Mississippi Governor Tate Reeves, who is in full support of the endeavor, stated, "The Holtmann Crossman Endowed Scholarship at JSU embodies the promotion of diversity in higher education needed by the business community in Jackson and throughout the State. It's a win-win for Jackson and all of Mississippi ."   

 

 CONTACTS:

 

John Michael Holtmann, Principal Holtmann Properties and Duckworth Realty

 601-500-7476 

or JohnMichael@duckworthrealty.com;

 

John Crossman, CCIM, CRX, CEO Crossman Career Builders 407-341-3895 

or Jcrossman@crossmancb.com

 

Beth Payan, Larry Vershel Communications Inc. 

(office)407-644-4142; (cell/text) 407-461-3781  or beth@larryvershel.com

 

 

JLL Capital Markets arranges the sale and acquisition loan for Seven West at the Trails apartments in Beaverton, OR

 

 Carrie Kahn

PORTLAND, ORE. – Oct. 26, 2021 – JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Seven West at the Trails (“Seven West”), a 423-unit, garden-style multi-housing community in the Portland suburb of Beaverton, Oregon.

Ira Virden

 JLL marketed the property on behalf of the seller, a separate account managed by LaSalle Investment Management. Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing acquired the property.


Additionally, working on behalf of the new owner, JLL secured the loan through a global financial institution.

 Seven West comprises one-, two- and three-bedroom units averaging 821 square feet. Units feature stainless steel appliances, walk-in closets, balcony/patio and washer and dryers.

Frank Solorzano
The community offers a clubhouse, two outdoor pools, a 24-hour fitness center, dog park, playground and barbeque area.

 Located at 14790 SW Scholls Ferry Rd., Seven West is within the Portland MSA near some of the areas largest employers, including Columbia Sportswear and Providence St. Vincent Medical Center.

 In addition, dozens of high-tech companies call the Beaverton-Hillsboro area home. Within a three-mile radius of the community, residents have access to over 6.1 million square feet of retail amenities including Washington Square Mall and Progress Ridge TownSquare.

Charles Halladay
Residents also have access to outdoor recreational areas such as Summerlake City Park, Cooper Mountain Nature Park and Greenway Park.

 The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.

 The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Charles Halladay and Andy Scott, Senior Director Jamie Kline and Analyst Charlie Vorsheck.

 

Andy Scott
“Beaverton continues to be a preferred submarket amongst investors due to outstanding fundamentals fueled by the growth of top employers such as Nike, Intel and a plethora of growing technology and healthcare companies situated just minutes away. 

Seven West is a unique opportunity to acquire significant scale with a proven value-add component,” said Virden.

 JLL delivers multi-housing investors a full range of solutions through one diverse, integrated platform.

The division employs approximately 400 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors.

 Charlie Vorsheck
JLL is also one of the nation’s largest affordable and conventional multi-housing and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

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

 

 CONTACT:

 

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Friday, October 29, 2021

JLL Capital Markets arranges $20.44 million loan for 510 Main Apartments in East Haven, CT

Mona Carlton

 NEW YORK, NY – JLL Capital Markets has arranged a $20.44 million refinancing for 510 Main Apartments, a 214-unit multi-housing community in East Haven, Connecticut.

 JLL worked on behalf of the borrower, Beachwold Residential LLC, to secure the 10-year, fixed-rate loan through Freddie Mac.

Amit Kakar

The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

 510 Main Apartments comprise studio and one-bedroom units ranging from 425 to 482 square feet.

Units feature air conditioning, balcony/patio, dishwasher, walk-in closets and extra storage. The community offers picnic area with barbeque, Wi-Fi resident lounge, fitness center, coffee bar and package acceptance.

Elliott Throne


The community is strategically located in proximity to various retail and shopping nodes.

 As a result of the 510 Main Apartments being located directly off of Main Street, one of the major throughfares in East Haven, the property is directly across from Hobby Lobby, Big Lots, TJ Maxx & HomeGoods. 

Additionally, the property is located approximately 1.5 miles west of the Trolley Square Shopping Center which is home to tenants such as: People’s United Bank, Stop & Shop, Subway, Supercuts, Koi Sushi and the United States Postal Service.

 The JLL Capital Markets debt team that represented the borrower was led by Senior Managing Directors Elliott Throne, Mona Carlton, Vice President Alex Staikos and Director Amit Kakar.

Alex Staikos

“Beachwold has experienced tremendous success with this asset through continued re-investment and excellent management, enabling them to significantly add value to the property over a 10-year-plus period,” said Kakar.

 “This refinance with Freddie Mac enables them to capitalize on historically low interest rates and positions the property well for continued success on a go-forward basis.”

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

  CONTACT:

Cierra Lacasse

PR, Capital Markets

JLL

T +1 602 648 8701

M +1 408 318 8021

JLL.com

 

Ryan Companies Hires Eric Nordeen as Vice President of Development

 

Eric Nordeen

 

 MILWAUKEE, WI– Ryan Companies US, Inc. (Ryan), a national leader in commercial real estate services, today announced that Eric Nordeen has joined the firm as vice president of development to continue the rapid growth of its Milwaukee office.

 

This key addition expands Ryan’s ability to pursue development, construction and build-to-suit opportunities in Milwaukee, Madison, and Southeastern Wisconsin and installs a trusted leader to represent Ryan in local business communities.

 

“Milwaukee is an important target market for our Great Lakes Region,” said Jim McDonald, regional president.


Jim McDonald

“Eric has cultivated a stellar reputation in the Milwaukee area as a creative real estate developer who is unafraid of a challenge.

 

"His expertise across property types and execution strategy aligns perfectly with our business goals for expansion in value-add, re-use and ground-up construction throughout Southeast Wisconsin.”

 

A 22-year real estate industry veteran, Nordeen most recently was principal of Ascendant Holdings, a company he cofounded in 2010.

 

Nordeen holds a bachelor’s of business administration in real estate and urban land economics from the University of Wisconsin-Madison.

 

 CONTACTS:

Paula Widholm, pwidholm@taylorjohnson.com, (312) 267-4525

 Gretchen Muller, gmuller@taylorjohnson.com, (312) 267-4511