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Debi Kroger
|
IRVINE, CA – JLL Capital has closed
a $245 million portfolio financing for an iconic Napa Valley hotel
property; three, Class A coastal Orange County retail centers; one, Class A
multi-housing community located in San Diego’s Little Italy submarket; and a
single-tenant showroom and restaurant space in downtown Yountville.
JLL marketed the portfolio on behalf of the
borrower and secured permanent financing from four lenders. Boardwalk
Investments Group is led by Owner Gary Jabara and Senior Vice President Debi
Kroger.
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Gary Jabara
|
“Boardwalk was able to rate lock attractive,
fixed-rate financing earlier this year, and we were pleased with the
competitiveness of the real estate debt markets and smooth execution by our
lending partners despite the volatile rate environment," said Kroger.
 |
| John Chun |
"After a record period of
acquisitions in 2021 and 2022, we will continue to look at additional core
investment opportunities in the next 24 months.”
The properties include:
· The
Estate, a 22-acre hospitality and destination retail complex in downtown
Yountville, CA with 193 luxury guestrooms across Hotel Villagio, Vintage House,
and the five-bedroom Villa at The Estate
·
Aliso Creek Shopping Center, a
49,149-square-foot, 92-percent-leased, trophy retail center located within Laguna
Beach and anchored by CVS
·
Flower Hill Promenade, a 168,249-square-foot,
95.6-percent-leased, neighborhood retail center that is anchored by Whole Foods
and located in Del Mar
·
The Landing, a 44,289-square-foot,
100-percent-leased, Pavilions-anchored shopping center located on the Balboa
Peninsula in Newport Beach
·
1810 State Street, a 99-unit, Class A, highly amenitized,
mid-rise apartment complex in Downtown San Diego’s premier neighborhood of
Little Italy
·
Restoration Hardware Yountville, a single-tenant,
Class A showroom, wine vault and restaurant space in downtown Yountville
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| John Marshall |
The JLL Retail Capital Markets Debt Advisory
team was led by Managing Director John Chun, Senior Director John
Marshall and Analysts Jordan Leake and Spencer Seibring.
“The deep lender pool in dislocated market
conditions highlighted the irreplaceability of Boardwalk’s portfolio, and
Boardwalk’s exceptional vertically integrated asset management platform.
"We’re excited to see Boardwalk continue to
deepen its presence in California’s most coveted submarkets,” said JLL.
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| Jordan Leake |
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.
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
CONTACT:
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356
Jenna.Sharp@jll.com
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