EDEN Living to Develop New Build-to-Rent Project near Florida’s The Villages

Jay Massirman 

WILDWOOD, FL – EDEN Living, with the mission to redefine an underserved segment of the rental population, is about to start construction of a new horizontal-apartment project just south of Florida’s The Villages community.

EDEN Living will develop 130 build-to-rent units on 15 acres it just acquired in Wildwood, FL.

 EDEN plans to break ground in June 2022 and expects to complete the project in September 2023. It closed on the site at 2072 County Road 501 on April 11.

 This new project is part of a recently formed venture between EDEN Living and an investment fund managed by Morgan Stanley Real Estate Investing (“MSREI”).

Jay S. Jacobson

EDEN previously finalized an agreement for MSREI to invest up to $180 million in its developments. The venture currently has several horizontal-apartment projects under construction in Florida.

 The 130 units include a mix of 799-square-foot one-bedroom, one-bathroom apartments and 1,268-square-foot two-bedroom, two-bathroom apartments. Class A amenities at the project include a clubhouse, fitness center, pool, BBQ area, pickleball courts and a park with walkways and seating areas.

 The development is conveniently located on the east side of I-75 and immediately west of Florida’s Turnpike. It is also just five miles from Brownwood Paddock Square, the downtown hub of The Villages.

 “This high-end build-to-rent project complements the tremendous growth occurring in The Villages area,” said Jay Jacobson, CEO of EDEN Living.

“The project site is surrounded by large-scale developments, many golf courses and an abundance of commercial and retail space. We are filling a void for new multifamily product in the area.”

 The Villages is one of Florida’s largest master-planned communities. It is experiencing substantial growth in the medical sector, as evidenced by HCA Healthcare’s recent $18.8 million purchase of a Trailwinds Village property in Wildwood. HCA plans to build a large medical facility on the site.

Sergio G. Socolsky

 Jacobson and fellow experienced multifamily developers Jay Massirman and Sergio Socolsky formed EDEN Living in February 2021. In addition to the MSREI agreement, EDEN Living has also secured a $22 million general partner equity raise through the Capital Advisors Single Family US 1 fund.

 The venture develops one-story living environments (and two-story townhomes in some locations) that provide enhanced privacy, exterior living space, courtyards and private landscaped backyards.

Residents will be able to access their homes with no sharing of breezeways or elevators. Projects will include amenities that are on par with what is found in traditional Class A multifamily communities.

 EDEN Living is actively seeking new development sites between 10 and 30 acres throughout its target markets.

 For direct inquiries, contact EDEN Living Director of Land Acquisition Jacky Sasson at jacky@edenmultifamily.com.

 

Jacky Sasson 

About EDEN Living:

EDEN Living is a partnership between EDEN Multifamily principals Jay Jacobson and Jay Massirman and America’s Capital Partners (ACP) Principal Sergio Socolsky. The partnership was formed to develop for rent, single-story detached horizontal apartment homes and two-story townhomes around the State of Florida and the Southeast, with future plans to expand the platform nationally.

 Contact:  

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

Bank of America Plaza | 1776 N Pine Island Road

Suite 320 | Fort Lauderdale, FL 33322

Web | Facebook | LinkedIn | Twitter | Instagramhttp www.edenliving.net.

 

 

 

 

Truliant Appoints Kielbasa Chief Compliance Officer

Rik Kielbasa

 

 WINSTON-SALEM, NC – Truliant Federal Credit Union has appointed Rik Kielbasa to the role of chief compliance officer. Previously, he was chief digital officer.

In this role, Kielbasa adds responsibility for policies, procedures, improvement and new programs in Truliant’s compliance area.

 He reports to Truliant President and CEO Todd Hall.

“Rik’s successful work with leaders across many different organizational areas will be essential to creating greater vision around compliance as we grow,” Truliant’s Hall said.

 “His knowledge of the digital landscape, our partners, and our members’ needs will help better position Truliant for the future.”

Todd Hall

 Kielbasa joined Truliant in 2009 as the Vice President, Member Contact Center. In 2013 he was promoted to Senior Vice Present, Member Experience and led the credit union’s branch network. Kielbasa was named Chief Digital Officer in 2017.  

Contact: 

 Heath Combs
(o) 336.293.2054

 

 

GTIS Partners Completes Sale of Infinity Tower, the Largest Single Asset Property Sale in Brazil

 

Triple-A Corporate Building, Brazil

SÃO PAULO and NEW YORK, May 20, 2022 /PRNewswire/ -- GTIS Partners, a global real estate investment firm that manages over $4.3 billion in gross assets with a focus on residential and industrial investments, today announced the sale of 62% of the Triple-A Corporate Building, Infinity Tower.

The property, valued at $277 million, is the largest single asset property sale in Brazil's history.

With a strategic location in the Faria Lima region in São Paulo, 233,500 square feet of the 376,700 square foot property was sold by GTIS Partners for $172 million.

Infinity Tower, Brazil

"We are pleased to have completed this transaction, which reaffirms that high quality real estate in Brazil remains attractive to investors," said Tom Shapiro, President and Chief Investment Officer at GTIS Partners. 

"Despite several economic cycles and the current debate about the need for office space, Infinity Tower has remained fully leased for almost a decade to some of the largest multinational corporations."

Tom Shapiro

Infinity Tower began its operations in 2012 and GTIS Partners has managed all stages of the project development process, including construction, leasing, and asset management.

The development is a landmark among AAA buildings with its architectural design, advanced technological resources and high constructive standards.

The acquisition was carried out by the companies Lucio, Omar Maksoud and AMY, which have participated in the venture since 2007 and now own 100% of the asset.

CBRE acted as advisor in development, leasing, and property management and was exclusively responsible for the building's sales process. Itau BBA acted as financer and exclusive financial advisor for the acquisition.

About GTIS Partners

GTIS Partners is a leading real estate investment and development firm headquartered in New York with offices in São Paulo, San Francisco, Los Angeles, Atlanta, Paris and Munich.

Thomas Feldstein

The firm was founded in 2005 by Tom Shapiro and is managed by President Tom Shapiro and Partners Thomas Feldstein, João Teixeira and Rob Vahradian.

The firm manages $4.3 billion in gross assets as of Q3 2021 and is active across a wide range of real estate sectors including single family and multifamily housing, office, industrial/logistics and hospitality as well as renewable energy infrastructure and opportunity zone investments.

João Teixeira

The firm invests at various points in the capital structure including credit, common equity and structured equity.

In the US, GTIS has invested in over 130 assets across 40 unique markets including growth areas such as Tampa and Charlotte. as Phoenix, Dallas, Houston, Denver and Atlanta.

Rob Vahradian

In Brazil, GTIS is among the largest real estate private equity firms with holdings including office, residential, logistics, hospitality and renewable energy investments.

Marquee assets in São Paulo include the Infinity office building and Palácio Tangará, a five-star resort style hotel.

GTIS also manages in Brazil the listed Real Estate Investment Fund – FII (GTLG-11), launched in 2021.

 Contacts: 

Angélica Consiglio, Beatriz Imenes and team – www.planin.com
 (11) 2138-8900

gtis@planin.com

www.gtispartners.com and gtisinvest.com.br.

Mary Beth Grover / Keely Gispan
ASC Advisors
(203) 992-1230
mbgrover@ascadvisors.com / kgispan@ascadvisors.com

SOURCE: GTIS Partners

 

Good Investment Partners acquires Boulder industrial and office portfolio financed with a $27 million loan

 

Hannah Cope

DENVER, CO, May 20, 2022 – JLL Capital Markets announced today that it has arranged $27 million in acquisition financing for a light industrial and office portfolio comprising six value-add properties totaling 184,462 square feet in Boulder, Colorado.

 JLL worked on behalf of the borrower, Good Investment Partners (GIP), to place the floating-rate acquisition loan with Argentic Investment Management LLC.

Jason Carlos 

Following their acquisition, GIP plans to enhance the properties within the portfolio and provide best-in-class space for small-to-mid size companies in the market.

 Spanning a total of 13.1 acres, the portfolio is in the heart of Boulder County approximately 10 minutes from downtown.

Boulder is experiencing tremendous growth with the recent entry of institutional investors attracted by an educated workforce and university that helps drive innovation and advancement.

The city is currently experiencing the largest volume of venture funding growth in the nation, which is helping to fuel the area into becoming an innovation hub.

William Haass

The buildings are all within the Gunbarrel Industrial submarket, which continues to maintain low vacancy rates and high demand, and directly off the Diagonal Highway, which connects Boulder to the maturing city of Longmont. 

 The portfolio comprises a mix of six single- and multi-tenant buildings at 6797, 6837 and 6899 Winchester Circle (Gunbarrel Technical Center) and 4695, 4697 and 4699 Nautilus Court (Twin Lakes Business Park).

Completed between 1982 and 2001, the 87.8-percent-leased portfolio offers its 23 diverse tenants cost alternative flex space that is proximate to the rapidly growing Boulder MSA.

 

Ryan Good 

The portfolio features clear heights ranging from 13.6 to 20.5 feet slab to deck and high office finish, along with a total of 21 grade-level doors, 19 dock-high doors and ample parking.

 The JLL Capital Markets team that represented the borrower included Directors Jason Carlos and William Haass. Good Investment Partners Managing Partner Ryan Good and Vice President and Partner Hannah Cope led the transaction on behalf of GIP.

 “It is no secret that Boulder’s strong historic fundamentals have been successful in attracting tech companies and a diverse talent pool, all while offering a high quality of life,” Cope said.

“Boulder’s continued economic growth has put it at the fore front nationally and internationally as a leader in R&D, technology, biotech, manufacturing and other mission-critical operations.

"We’re confident this portfolio will benefit from a disproportionate share of economic growth as demand continues to outstrip supply across the industrial sector.” 

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

 Contact: 

Kimberly Steele

 JLL Manager

 Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

jll.com.

goodinvestmentpartners.com.

 

Dream Finders Homes Now Selling at New Cordova Palms Development in St. Augustine, FL

 

ST. AUGUSTINE, FL – Dream Finders Homes has started sales at Cordova Palms, its newest single-family home community at 95 Chasewood Drive in St. Augustine. 

Prospective homebuyers are choosing from 13 of the homebuilders’ popular floorplans.

 

New homes in the centrally-located community – which start in the low $500,000s – will range from approximately 1,716- to more than 3,500-square feet and offer up to five bedrooms and three bathrooms, according to Division President Brad Muston. 

   Brad Muston 

We have a beautiful collection of flexible one- and two-story floor plans for the 43- and 53-foot homesites at Cordova Palms,” Muston said. 

“We’ve listened to our buyers and are delivering by offering numerous structural and design options, as well as beautiful preserve views.”

 

The community – which eventually will have 750 single-family homes at build out – is just minutes from outlet malls on Interstate 95, a mix of dining options in historic downtown St. Augustine, and it’s only a few miles from a relaxing day at the beach.

 

Muston said numerous planned amenities like a zero-entry lap pool, kids’ playground, a bark park, play lawn, splash pad, fitness center, covered pavilion and party room, provides many reasons to stay home in the community.

Tours of Cordova Palms currently are by appointment and sales are being handled onsite. The homebuilder plans to start a couple of models sometime this summer for opening by late September or early October.

 

Photos courtesy of Dream Finders Homes. 

 

CONTACTS:

 

 

Beth Payan, Larry Vershel Communications,

 407-461-3781 or beth@larryvershel.com 

 

Brad Muston, Division President Dream Finders Homes, brad.muston@dreamfindershomes.com

 

Ashlynn Wombolt, Marketing Manager, Dream FindersHomes, ashlynn.wombolt@dreamfindershomes.com or Lakewood Park Sales Consultant 888-208-7736   

 

www.dreamfindershomes.com or call 888-214-1164. 

 

After a Successful 2021 Launch, Seminole County, FL Couple Eyes Second Beauty Mall

 

Natasha Martinez and husband Carlos

CASSELBERRY, FL – With beauty in her blood and a desire to give clients what they want, Natasha Martinez is realizing her dream of being a salonplex entrepreneur.

Martinez and her husband, Carlos, opened Salon Empire – a 4,000 square-foot health and beauty mall with 19 furnished individual units in a retail plaza at 1750 Sunshadow Drive in Casselberry, FL in 2021 and are moving forward with plans for a second Seminole County endeavor later this year or early in 2023.

“This is the age of the entrepreneur, where everybody wants to be their own boss,” Natasha said, adding that salonplexes offer just that to tenants who provide a variety of health and beauty services including hair, nails, makeup, waxing, tanning, tattoo, yoga, massage, acupuncture and chiropractic,

 “And it’s really one-stop shopping for their clients.”

In the beauty industry for nearly 25 years, Martinez, 38, also owns Oh La La Brow Bar off of Michigan and Bumby Avenues in downtown Orlando.

Martinez, who began her career at the age of 14 by helping at her mother’s salon, received a degree in interior design while working in the brow and lash industry, and started her own company with a $2,000 tax return when she was a single mother.

Fast forward to 2022: Martinez – the epitome of perseverance – has a nine-year-old son and a three-year-old son, is married to a contractor, owns two companies and hopes to eventually franchise Salon Empire.

Martinez said they spent nearly $200,000 on the project, which had revenue of about $50,000 in less than six months.

“I’m projecting a return closer to $200k this year, since we will be operating at full capacity,” she said. Only three of the 19, 100-square-foot suites currently are available.

Salon Empire has a logo put on the door for tenants, provides a ribbon-cutting opening party, pays for all utilities and towel service, and many tenants don’t even need a license, Martinez said. 

They work off of Salon Empire’s beauty license unless they need a license for another specialty.  “Otherwise, just come with your box of stuff and set up.”

Martinez said they spent nearly $200,000 on the project, which had revenue of about $50,000 in less than six months.

“I’m projecting a return closer to $200k this year, since we will be operating at full capacity,” she said. Only three of the 19, 100-square-foot suites currently are available.

The couple has been scouting Seminole County for their second Salon Empire and is negotiating to lease a 2,000- to 3,000-square foot facility west of Interstate 4 in Altamonte Springs. 

Photos courtesy of Salon Empire

  

CONTACTS:

 

Natasha Martinez or Carlos Martinez

Co-Owners Salon Empire 321-331 5846

 ohlalawaxstudio@icloud.com

 

Beth Payan, Larry Vershel Communications,

 407-461-3781 or beth@larryvershel.com 

 

Garden State Logistics Park in Pennsville, NJ slated for Fall 2023 completion

 

Garden State Logistics Park,
 a planned 1.7 million-square-foot,
 state-of-the-art center in Pennsville, NJ.

Pennsville, NJ and Dallas, TX –– CT Realty, in joint venture with PGIM Real Estate, the real estate investment and financing business of PGIM, the $1.5 trillion global asset management business of Prudential Financial (NYSE: PRU), has acquired 282 acres of industrial land for the development of Garden State Logistics Park, a 1.7 million-square-foot, state-of-the-art logistics center in Pennsville, NJ.

 Development is already underway on the site, with delivery of the project slated for the third quarter of 2023.

 

Rob Huthnance

“This is an exceptionally rare opportunity to assemble a critical mass of land and create a top-flight logistics project in the second largest industrial market in the country,” said Rob Huthnance, who oversees CT’s development activity in the Eastern U.S.

 

“This project is at the gateway to Southern New Jersey and will serve as a distribution hub for the entire Northeast, able to serve 66 million consumers in a single day’s truck drive."

Brian Fuimara

The land sale was represented by Brian Fuimara at CBRE, though the terms of the transaction are undisclosed. CBRE will also represent the buildings for lease or sale through its New Jersey and Philadelphia offices.  

 

Garden State Logistics Park is located at the former Deepwater property next to the Delaware Memorial Bridge at I-295 in Pennsville, NJ, and is minutes from I-95 and access to the entire regional logistics transportation network.

 

 

NOTE: Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

 

CONTACTS:

 

Stacey Hershauer | 480-600-0195

stacey@focusaz.com

 

Randy Hall | 714-263-8723

randy@ideahall.com

 

ctrinvestors.com.

pgim.com.

pgimrealestate.com.