Enterprise Mill named 2022’s Best Apartment Complex in Augusta, GA

Stephanie Harrison
 and husband John

AUGUSTA, GA, Aug. 16, 2022 – Beacon Real Estate Group, the Miami-based commercial real estate firm with a vast portfolio in Georgia, and across the Southeast U.S., is commencing a $3 million improvement plan at the Enterprise Mill in Augusta, Georgia.

The former cotton mill is now a vibrant mixed-use complex and considered one of Augusta’s true historic landmarks.

Enterprise Mill, 1450 Greene Street,

 named 2022’s Best Apartment 

Complex in Augusta, GA

 

The Enterprise Mill was recently named Augusta’s “Best Apartment Complex” of 2022 by the Augusta Chronicle. Each year, the publication’s readers vote on the “City´s Best of the Best” in different categories.

 Stephanie Harrison of Harrison Properties oversees management and leasing of Enterprise Mill’s apartments.

C. Ralph Kitchens of Nichols Land & Investment oversees management and leasing of Enterprise Mill’s office space.

Upcoming improvements to the 1450 Greene St. complex include interior renovations to all 60 loft apartment homes; new landscaping; north and south tower beautification and signage upgrades; a fire pit gathering area; tenant buildouts for office users and more.

Carlos Imery

 Beacon previously invested more than $2 million to enhance Enterprise Mill’s amenities, add 24-hour security and address deferred maintenance from before the firm’s 2016 acquisition of the property.

 “Enterprise Mill is a crown jewel for both our firm’s portfolio and Downtown Augusta overall,” Beacon Chief Operating Officer Carlos Imery said. 

“These upcoming enhancements build on the momentum we have created through prior upgrades and modernization of the apartment and office components.”

 Originally constructed in the 1840s, Enterprise Mill is a completely renovated former cotton mill adjacent to the historic Augusta Canal. Its revival symbolizes a new era, where southern heritage blends seamlessly with contemporary urban lifestyle. With unique character and stunning original architecture, the mixed-use complex’s apartment homes and office space stands alone in the area.

Enterprise Mill is located between Augusta’s Downtown District and Medical District, which is home to Augusta University, University Hospital, VA Hospital and Children’s Hospital of Georgia.

 

C. Ralph Kitchens 

Each of Enterprise Mill’s one, two and three-bedroom loft apartments have unique features and design components, including wide plank pine floors, exposed brick walls, ceilings that are at least 15” tall and oversized windows. Amenities include a resort-style fitness center, business center with conference room, on-site ATM, courtyard, grill and picnic area.

 “Our residents love how the apartments combine Augusta’s history with modern aesthetics,” Harrison said. “They also recognize that Enterprise Mill offers a one-of-a-kind downtown lifestyle with convenience, waterfront access, entertainment and outdoor activities. Beacon’s substantial improvements will make the quality of life at Enterprise Mill that much more appealing.”

 The complex’s 215,000-square-foot Class A office facility is popular with law firms, engineers, cybersecurity firms, medical tenants and more. Some professionals who work at Enterprise Mill also rent apartments there – especially nurses, doctors and engineers. The office space is fully equipped with state-of-the-art fiber optic communications.

 Apartment home residents and office tenants have access to shared amenities including the fitness center, conference rooms, and the Starch Room,” a rustic event venue located adjacent to Enterprise Mill.

 For apartment inquiries, contact Harrison at (404) 819-3338 or stephanie@hpatlanta.com. 

For office inquiries, contact Kitchens at (706) 364-3901 or rkitchens@nicholsland.net.

Beacon owns more than 6,000 multifamily units in the Southeast U.S., with a strong focus on secondary markets. The company’s portfolio also includes nearly 1 million square feet of office and retail properties in the region.

  

 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 | Instagram

  

Western Specialty Contractors Hires Debbie Kalck as Chicago Facades Branch Manager

 Debbie Kalck 

 

 St. Louis, MO -- Western Specialty Contractors announces the appointment of Debbie Kalck as Manager of its Chicago Facades Branch.

In her new position, Kalck is responsible for managing sales, daily operations, and field personnel, plus developing new projects within her branch’s territory.

“Debbie’s ability to connect with people, her positive energy and drive for growth made her the perfect fit to lead our Chicago Facades team,” said Justin Berndt, Western Specialty Contractors Midwest Region Operations Manager.

Justin Berndt

“She has an extensive background in finance, construction, sales, restoration, training, and development, and has spent a large part of her career leading successful teams in multiple industries."

Prior to Western, Kalck was Director of Operations for nearly five years at LMC Construction, Inc. During her time with the Chicago masonry contractor, she became a Certified Manager of Community Associations, Certified Lead Renovator and obtained concrete and masonry licenses. 

In addition, she worked for three years as an Account Executive for a large Chicago-based commercial flooring contractor.

Kalck also has more than 24 years of experience managing customer investments and teams in the financial sector, having worked for Morgan Stanley, MetLife, and Merrill Lynch.

 Contact:

Jennifer Beidle
Jennifer Beidle Communications
St. Louis, MO 63129
United States

www.westernspecialtycontractors.com.  

 

iBorrow provides financing for acquisition and renovation of historic Hamptons' boutique hotel on Long Island, NY

 

Brian Good

 

SAGAPONACK, NY – iBorrow, a nationwide private direct lender for commercial real estate, has provided financing to a well-known boutique hotel/inn owner and operator to support the acquisition and renovation of Wainscott Inn, a 30-room boutique inn situated at 3720 Montauk Highway on the east end of Long Island in Sagaponack, NY.

The financing comes at a time when travel is ramping back up post-pandemic and hospitality-sector fundamentals are improving, according to Brian Good, CEO of iBorrow.

“As people return to traveling, the hospitality sector is benefitting from the rebound of the effects of the pandemic,” says Good. “In Q4 2021, hotel occupancies had risen to 63.2% across the nation from 48.9% one year prior. 

"As a result, hotel investors are increasingly placing capital in assets like Wainscott Inn, which is located at a convenient destination for both business and leisure stays.”

iBorrow’s $3.3 million financing of this asset assists the borrower in adding the property to its portfolio and will serve as a bridge loan as the sponsor pursues construction permits and city approvals.

Jon Heoing

“iBorrow has always been a reliable source to assist in funding projects we have invested in over the years,” says Jon Heoing at Atlantic Equity Partners.

“This particular investment shows strong potential as tourism and travel recover. The financing iBorrow helped to secure is structured to assist us in executing our business plan of acquiring the asset and implementing full renovations.”

Wainscott Inn, 3720 Montauk Highway
on the east end of Long Island 
in Sagaponack, NY.

Lenders are likely to be more open to underwriting hotel transactions as sector fundamentals improve, Good explains.

“While hospitality has been one of the slowest asset classes to rebound from the pandemic, it is anticipated to make a full recovery by 2025," says Good.

 "In fact, the year ahead is trending positively, with hotel occupancy rates and revenue per available room (RevPAR) expected to approach 2019 levels. These indicators boost our confidence in the long-term success of this investment.

 Contact:

Katie Haga

The Smart Agency, Inc.

(949) 438-6262
khaga@thesmartagency.com

 

JLL Capital Markets arranges $302 million in debt and equity for a six-property 1,494-unit, multi-housing portfolio located throughout Maryland, Virginia and Alabama

 

Melissa Marcolini Quinn

 TAMPA, FL -- JLL Capital secured $262 million in debt and $40 million in equity for the refinancing of a six-property, 1,494-unit, garden-style multi-housing portfolio scattered across Maryland, Virginia and Alabama.

 JLL represented the borrower, Carter Multifamily, to secure the seven-year, floating-rate loans through Freddie Mac Multifamily.

 The loans will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. JLL also worked to secure the equity through an institutional investor.

 Lee Weaver

The JLL Capital Markets Central Florida Debt & Equity Advisory team represented the borrower and is led by Senior Managing Directors Melissa Marcolini Quinn and Lee Weaver.

 “Despite turbulent debt markets, we were able to facilitate a refinance of the portfolio with favorable senior financing from Freddie Mac, who was attracted to the deal due to the portfolio’s contribution to its mission and the borrower’s strong track record,” said Quinn.

 “The favorable senior loan terms and sponsorship attracted a lot of interest from equity investors, and we are happy to close this deal for the Carter team,” Weaver said.

 The multi-housing portfolio consists of:

·         Park at Kingsview Village, 13414 Daventry Way, Germantown, Maryland

·         Stonecreek Club, 12840 Locbury Circle, Germantown, Maryland

·         Hunt Club, 404 Christopher Ave., Gaithersburg, Maryland

·         Springwoods at Lake Ridge, 12395 Midsummer Ln., Woodbridge, Virginia

·         Windsor Park. 3937 Penshurst Ln., Woodbridge, Virginia

·         Oaks of St. Clair, 5050 Oaks of St. Clair Circle, Moody, Alabama

 

320-unit Park at Kingsview Village, Germantown, MD

Five of the properties are located within the Washington, D.C. suburbs, providing tenants access to the employment opportunities in and surrounding the District.

 The 326-unit Park at Kingsview Village, the 240-unit Stonecreek Club and the 336-unit Hunt Club are set in Germantown and Gaithersburg, Maryland, respectively, which are northwestern suburbs along Interstate 270.

 The 220-unit Windsor Park and the 180-unit Springwoods at Lake Ridge are both within Woodbridge, Virginia, a southern suburb approximately 23 miles from downtown Washington, D.C.

Situated in the Birmingham, Alabama MSA, the 192-unit Oaks of St. Clair is in Moody, Alabama, approximately 20 miles east of downtown Birmingham.

 

 Contacts:

Jenna Sharp, JLL Public Relations

Phone: +1 214 394 3356

Email: Jenna.Sharp@am.jll.com

carterfunds.com and cartermultifamily.com.

Guthrie Development acquires prime multi-tenant industrial asset in Orange County, CA submarket

 

Rob Guthrie

FOUNTAIN VALLEY, CA -- Guthrie Development Company, a full-service commercial real estate investment and management company based in Irvine, California, has acquired a 13,260 square-foot multi-tenant industrial building in Fountain Valley, California from a private seller.

“Our firm focuses on strong-performing asset classes such as industrial, which continues to surpass all other commercial real estate sectors,” says Rob Guthrie, President at Guthrie Development Company.

 “Demand for this product type has skyrocketed recently, especially in the Orange County market. In fact, this region saw its eleventh straight quarter of positive absorption in Q1 2022.

13,260 square-foot multi-tenant industrial building,
Fountain Valley, CA

"Competition for industrial space in Orange County has never been higher, which is driving rental rates to new all-time highs. Through our extensive expertise in the Orange County market, we have observed increasing interest in this sector from both users and investors in the area.”

The property Guthrie Development has acquired consists of seven units ranging from 1,560 square feet to 3,510 square feet and is currently 80% leased. 

Nick Spatafore

CBRE's Nick Spatafore, the broker representing Guthrie in the transaction, will work on behalf of the company to sell the remaining individual condos to small businesses and investors. 

Spatafore represented both the buyer and seller in the transaction

Additionally, Guthrie Development will implement a series of capital improvements as part of its strategy to enhance the property’s overall value, says Dane Rowland, Commercial Property and Business Association Manager at the company.

 Dane Rowland

“As it is rare to find an industrial asset like this with such an exceptional location near the 405 Freeway, we immediately recognized its value potential,” says Rowland.

“With this acquisition, we will perform a complete condo conversion, which will include new landscaping, an outdoor gathering area with seating, interior improvements, among others.”

Acquired for $4.3 million, the property is located at 17330 Newhope Street in Fountain Valley, California. Nick Spatafore with CBRE represented both the buyer and seller in the transaction.

 Contacts:

 

Brooke Belt / Katie Haga

The Smart Agency, Inc.

(949) 438-6262

bbelt@thesmartagency.com

 

JLL Capital Markets closes sale of the 175-unit The Bevy Apartments in Brown Deer, WI

 Amanda Friant

CHICAGO, IL,  Aug. 16, 2022 – JLL Capital Markets has closed the sale of Bevy Apartments, a brand-new, 175-home apartment and townhome community in the fast-growing North Milwaukee suburb of Brown Deer. The price was not disclosed.

Rendering of The Bevy Apartments, 
8600 North Deerwood Drive,
Brown Deer, WI

JLL worked on behalf of the seller, Fiduciary Real Estate Development, Inc. JVM Realty Corp. acquired the asset.

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Director Wick Kirby, Director Amanda Friant and Analyst Jeremy Weinstock, along with Senior Managing Director Jaime Fink.

 Built in 2020, The Bevy Apartments features studio, one-, two- and three-bedroom floorplans with granite countertops, stainless steel appliances, in-unit washers and dryers, large walk-in closets, programmable thermostats, bedroom ceiling fans with lighting controls and an average size of 961 square feet.

Wick Kirby

Select units feature private balconies/patios and private entries and garages. Community amenities include a fitness center, an outdoor terrace with grilling stations, a resident clubroom, an FX gaming system, an outdoor dog park and pet spa and underground parking.

 Located at 8600 N. Deerwood Dr., The Bevy Apartments is just a 15-minute drive to downtown Milwaukee via direct highway access and is walkable to the numerous retail options at the Village, which will include the new Village Square development’s beer garden and farmer’s market. 

Jeremy Weinstock

The property is also accessible to the modernized Bayshore outdoor shopping center.  Additionally, the community is 25 minutes from Milwaukee Airport and 10 minutes from Lake Michigan.

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

 Fiduciary Real Estate Development, Inc

Fiduciary Real Estate Development, Inc.(“FRED”) is an award-winning developer and real estate investment management firm, focused on the market rate multifamily apartment asset class.

 Jaime Fink

Founded in 1985 and based in Milwaukee, Wisconsin, FRED currently owns and manages more than 8,000 market rate apartments across multiple states, and continues to expand throughout the United States.  

JVM Realty Corp.

 Based in Oak Brook, Illinois, JVM operates a $1.4 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Kansas, Missouri and Wisconsin. 

  Contact:

Jenna Sharp

JLL Associate

 Public Relations

Phone: +1 214 394 3356

Email:  Jenna.Sharp@am.jll.com

www.jvmrealty.com.

 

 https://liveatthebevy.com/

 

Stan Johnson Co. brokers $11 million sale of North Carolina assembly and distribution facility

 

Maggie Holmes 

Winston-Salem, NC -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a single-tenant industrial building leased to Collins Aerospace, a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry.

 The 90,499-square-foot manufacturing building is located at 2599 Empire Drive in Winston-Salem, North Carolina. Jonathan Ameen of Stan Johnson Company represented the buyer, a New York-based individual investor who acquired the asset for $11.4 million.

Maggie Holmes of Stan Johnson Company represented the seller, a REIT based in Dallas, Texas.

Jonathan Ameen 

“This represents a generational asset for my client and an attractive disposition for the seller in the midst of interest rate headwinds,” said Ameen, Director in Stan Johnson Company’s Tulsa, Oklahoma headquarters. “Yet another reminder that the market for critical industrial assets is still very strong.”

The well-maintained facility sits on 5.5 acres and features concrete tilt-up construction, 13 loading docks and high ceilings ranging from 28 to 34 feet.

Collins Aerospace has operated the facility for fourteen years and has invested nearly $2.0 million for upgrades and renovations to its assembly and distribution lines.

The lease is fully guaranteed by the tenant’s parent company, Raytheon Technologies, a top three global defense contractor with 2021 annual revenues of $64.6 billion.

 

 Contact:

    David Ebeling

   Ebeling Communications

   (949) 278-7851

   david@ebelingcomm.com

 www.stanjohnsonco.com.

 

CrossMarc Services Names Flavia Kanyago Vice President

Flavia Kanyago

 WINTER PARK, FL – CrossMarc Services, LLC, a real estate investment and advisory firm based in Winter Park, has named Flavia Kanyago, as Vice President.

          CrossMarc CEO John Crossman, CCIM CRX said Kanyago, who brings 10 years of experience in retail commercial real estate to the firm, specializes in landlord and tenant representation, structuring deals and negotiating sale and lease contracts along with new client acquisition.

John Crossman

arc Services, and we anticipate that she will continue to be a leader in the market,” Crossman said.

 Kanyago embraced retail commercial real estate early in her career.  A graduate of Florida A&M University’s School of Business and Industry, she has had the benefit of working with the site selection strategy team of Publix Supermarkets, Inc., and the leasing teams at Front Street Commercial Group and Avison Young. 

Most recently, she was director of leasing at Capital Stack Real Estate Group. 

 In her new role at CrossMarc Services, Kanyago will handle tenant representation and the leasing of all assets owned by the firm.  She will bring in numerous clients and ensure that active retailers and brokers are familiar with the CrossMarc portfolio.

 About CrossMarc Services

Founded in 2020, Winter Park-based CrossMarc Services specializes in commercial real estate services, including advisory, investment, brokerage and property management.   

 Contacts:

John Crossman, CCIM, CRX, President CrossMarc Services, LLC,  1011 N. Wymore Rd. Winter Park, FL 32789 - 407-341-3895 or jcrossman@crossmarcservices.com

 

Flavia Kanyago, Vice President, CrossMarc Services, LLC, 1011 N. Wymore Rd. Winter Park, FL  32789;  850-264-3609 or fkanyago@crossmarcservices.com 

 Beth Payan, Larry Vershel Communications, 2433 Lee Rd., Winter Park, FL 32789;

 407-461-3781 beth@larryvershel.com

 www.crossmarcservices.com