JLL Capital Markets completes $203 million construction takeout financing for the 442-unit Vive Luxe apartments in the Kearny Mesa submarket of San Diego, CA

  

Mariah Feghali

SAN DIEGO, CA – JLL Capital Markets has closed the $203 million construction takeout financing for Vive Luxe, a Class A, 442-unit, multi-housing community in the Kearny Mesa submarket of San Diego, California.

Aldon Cole

JLL represented the borrower, Sunroad Enterprises, to secure the five-year bridge loan.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Aldon Cole and Tim Wright, Associate Bharat Madan and Analyst Mariah Feghali.

 “This financing concludes the final capitalization on one of the most high profile, infill developments in San Diego’s recent history,” said Cole.

 “The debt market aggressively pursued the opportunity and held terms through a volatile time in the market, which emphasizes the long-term, irreplaceable nature of this marquis development.”

Tim Wright

Built in 2022, Vive Luxe offers studio, one-, two- and three-bedrooms units with fully equipped gourmet kitchens, top-of-the-line stainless steel appliances, distinctive wood-style flooring, quartz countertops and open-concept living spaces.

Additionally, the common areas include a pool clubroom, resort-inspired pool and spa, 24-hour fitness center, a resident wine lounge and a sky deck and ocean lounge.

 Situated at 4890 Sunroad Centrum Ln., the property offers residents convenient highway accessibility with CA-163, I-805, CA-52 and I-163 less than four miles away.

 Bharat Madan

In addition to Kearny Mesa, the property is also proximate to other major employment centers, such as the University Towne Center/La, Sorrento Valley/Sorrento Mesa, Mission Valley and downtown San Diego.

 Residents benefit from the nearby Montgomery Field airport and the San Diego International Airport.

 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 and sales 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:

Kimberly Steele, JLL Manager

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

JLL Capital Markets Closes Sale on Four-Property Medical Office Portfolio in Milwaukee, WI and Green Bay, WI

Mindy Berman

CHICAGO, IL – JLL Capital Markets has closed the sale of a four-property, Class A medical office portfolio totaling 111,827 square feet in Milwaukee and Green Bay, Wisconsin. The price was not disclosed.

Evan Kovac

JLL marketed the properties on behalf of the seller, Stage Equity Partners, a leading private owner of medical office buildings, headquartered in Chicago.

The portfolio was acquired by Big Sky Medical via a competitive process that yielded extremely strong interest from a range of institutional investors.

The JLL Healthcare Capital Markets team representing the seller was led by Senior Managing Directors Evan Kovac and Mindy Berman, Managing Director Tim Joyce, Director Matt DiCesare and Vice President Trent Jemmett. Local support was provided by Senior Managing Director Jamie Fink.

Tim Joyce

“We acquired the properties over a period of three years, with the notion that the aggregation would ultimately set up for a portfolio sale” said Brian Howard, President of Stage Equity Partners.

 “Two of the properties required additional lease up as well as long-term building upgrades. Once we completed the work, we determined it was the right time to evaluate an exit.

 "The JLL team did a phenomenal job running a process and overseeing the sale. Big Sky is acquiring a terrific portfolio with a great tenant mix.”

 Matt DiCesare

The portfolio is 98% leased overall, with 85% of the tenancy with market-leading, investment grade-rated hospitals, including Children’s Wisconsin, Hospital Sisters Health System, Ascension and Advocate Aurora Health Care. 

The medical office portfolio consists of:

• 4655 N. Port Washington Rd., Glendale
• 8375 South Howell Ave., Oak Creek
• 8800 Washington Ave., Mt. Pleasant
• 1727 Shawano Ave., Green Bay

 “We’re very happy to add these assets to our growing portfolio and thankful to JLL and Stage Equity Partners for facilitating a smooth transaction,” Jason Signor, Managing Partner at Big Sky. 

Jason Signor

“This is our second successful purchase from Stage Equity Partners, and we’re happy that Big Sky and the tenants in the buildings will benefit from their continued management of the properties. We hope to have opportunities to work with Brian and his team again.”

Trent Jemmett

Three of the four properties are in suburban Milwaukee, the largest city in Wisconsin and ranking as the 39^th largest MSA in the country. 

Milwaukee is convenient to Chicago and boasts massive public and private investment in infrastructure, a vibrant and economically diverse employment base and a rich historical culture.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Jamie Fink

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.

 

About Stage Equity Partners, LLC

Stage Equity Partners is one of the nation’s leading owners of healthcare real estate properties, including medical office buildings and surgery centers. 

Brian Howard,

Stage acquires, develops and manages top medical office buildings across the country, with a focus on the Midwest and Southeast, including Texas.

 

About Big Sky Medical

Big Sky Medical is an investment manager focused on commercial real estate across the United States with an overweight focus on the medical office sector. 

Over the past 15 years, its principals have invested in nearly 6 million square feet of healthcare property coast to coast, representing $1.6 billion of total cost.

 CONTACT:

Cierra Lacasse

 JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra Lacasse@am.jll.com

Milwaukee-area grocery-anchored retail center sells for $15 million

 

Amy Sands

CHICAGO, IL – JLL Capital Markets has closed the $15.15 million sale of Whitnall Square, a 133,421-square-foot shopping center anchored by Pick ‘N Save in the Milwaukee-area community of Saint Francis, Wisconsin.

Clinton Mitchell

JLL represented the seller, Newport Capital Partners, and procured the buyer, Savitar Realty Advisors. 

 

The JLL Retail Capital Markets Investment Sales Advisory team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Senior Managing Director Jaime Fink.

 

Constructed between 1989 and 1991, Whitnall Square is anchored by a high-performing Pick ‘N Save, the largest supermarket chain in Wisconsin, which recently demonstrated its commitment to the property by extending its lease through 2034.

Michael Nieder

The 96-percent-leased center is also home to Petco, Plant Fitness, Harbor Freight Tools, Metro PCS, Dollar Tree, Subway, H&R Block, Bangkok House Restaurant, Hariport, Papa Murphy’s Pizza and P.T. Nails.

 

 Additionally, the 14.17-acre site has room for a future outparcel development. 

 

Whitnall Square is at 4698 S. Whitnall Ave. in Saint Francis, which is seven miles southeast of downtown Milwaukee and proximate to Interstate 794, facilitating easy access to the center.

 

The center pulls from a dense, infill trade area with a population of 211,000 and an average annual household income of $65,000 within a five-mile radius.

 

Jaime Fink

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:

 

Kimberly Steele

PR, Capital Markets,

Agency Leasing

 and Valuation Advisory 

JLL

T +1 713 852 3420

M +1 832 244 9994

JLL.com

 

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