JLL arranges $262 million financing for the development of luxury condominium tower in Miami, FL

 

E11EVEN^® Residences Beyond, 
a 65-story condominium
development in Miami, FL

 

Christopher Peck

 NEW YORK, NY – JLL’s Capital Markets group has secured the $262 million construction financing for E11EVEN^® Residences Beyond, a 65-story condominium development in Miami, Florida.

The project will include over 550 luxury condominium units, 13,861 square feet of retail and 204 parking spaces.

 

JLL worked on behalf of the borrower, Property Markets Group, to secure the 3.5-year, floating-rate loan through Madison Realty Capital.

 

Chris Drew

JLL’s Capital Markets Debt Advisory Team was led by Senior Managing Directors Christopher Peck and Chris Drew, Managing Director Brian Gaswirth, Director Alex Staikos and Associate Jimmy Calvo.

“This is an exciting time in District 11, and despite market turmoil, lenders were eager to work with a best-in-class developer like PMG on a project that will stand out in an exhilarating new neighborhood that appeals to residents and visitors alike,” said Peck.

 

Brian Gaswirth

“The transaction is further evidence that attractive financing is available for sophisticated projects in the right location, and we were thrilled to work with both parties to close this loan.”

 

With an anticipated completion of 2026, E11EVEN^® Residences Beyond will feature private resort-style amenities, such as an expansive gym, spa, rooftop lounge, pool, private rooftop helipad and a 150-foot bridge connecting the project with E11EVEN^® Hotel and Residences.

Alex Staikos

Located in the heart of Downtown Miami’s District 11 at 50-90 N.E. 11th St., the project benefits from direct access to I-395 and I-95, providing ease of travel to Miami Beach, Wynwood, Brickell, Miami International Airport, the Port of Miami and a multitude of other prime local destinations.

 

The community will provide residents an urban, walkable lifestyle with instant access to Adrienne Arsht Center for the Performing Arts, the Perez Art Museum and the Frost Museum of Science, as well as the Miami Worldcenter, a 27-acre, mixed-use development with 300,000 square feet of newly built retail, dining, shopping and entertainment venues.

Jimmy Calvo

JLL’s Capital Markets group 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.

 

CONTACT:

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

EverWest Continues Atlanta Investment Push with Infill Industrial Buy

 

Tyler Williams

 ATLANTA, GA – Within weeks of completing an industrial buy in Ellenwood, Georgia, leading real estate investment advisor EverWest Real Estate Investors (“EverWest”) has announced another metro Atlanta industrial acquisition, totaling 21.1 acres of land and two recently completed, fully speculative state-of-the-art distribution buildings.

Britton Burdette

The purchase continues EverWest’s investment push in the Atlanta market, with a focus on strategically located warehouse product and low-coverage land sites for Industrial Outdoor Storage (IOS).

The JLL team of Britton Burdette, Dennis Mitchell, Matt Wirth, Mitchell Townsend and Jim Freeman brokered the transaction between EverWest and InLight, the project’s developer.

The new EverWest asset is located at 9485 Highway 42 North in Rex, Georgia, directly fronting Highway 42 and less than one mile from I-675, which offers quick access to I-75, I-285 and the Hartfield-Jackson International Airport.

Dennis Mitchell

It includes two brand new, Class A industrial distribution buildings totaling 268,400 square feet and situated on a large site zoned for light industrial use.

“This property offers tremendous flexibility and upside through the lease up of space at current market rents,” said Tyler Williams, EverWest Managing Director of Southeast Acquisitions.

“The buildings were delivered in turnkey condition with spec office suites available to quickly accommodate tenant demand, and with features that make them ideal for small and midsize users.”

Matt Wirth

Totaling 130,000 square feet and 138,400 square feet, the Rex distribution buildings offer 32’ clear height, LED lighting, ESFR sprinklers, wide columns and 72 dock-high and four drive-in doors in a rear-load configuration.

They also have features attractive to small and midsize users such as 200’ building depths, above-market dock ratios and various storefronts to provide flexibility for single or multiple tenants.

“Most new construction in the I-675 and Airport corridor has been bulk facilities greater than 500,000 square feet, and existing inventory consists of Class B space with lower clear heights,” said Williams.

Mitchell Townsend 

“Our buildings capitalize on the supply-demand imbalance for high-quality, modern infill product servicing smaller tenants.”

 EverWest currently has $5.2 billion in assets under management, invested through separately managed accounts and commingled funds.

 It provides investment management services including acquisitions, asset management, development and property management for assets throughout the U.S.

CONTACT:

Stacey Hershauer

focusAZ 

 

P 480.600.0195

www.focusaz.com

 

HVMG Appoints Bryan Gatzemeyer to Vice President of Business Intelligence

 

 

Bryan Gatzemeyer 

 

 ATLANTA, GA — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced the appointment of Bryan Gatzemeyer as vice president of business intelligence.  He will report to Cory Chambers, chief commercial officer.         

 

 Gatzemeyer will lead  HVMG's  data and analytics strategy. 

 

Cory Chambers

“Our business intelligence strategy is all about developing insights that will help our owners, corporate team leaders and general managers more effectively predict what is going to happen in their business, but also prescribe strategies that deliver the most profitable mix of business and drive bottom line performance," said Robert Cole, president and CEO, HVMG. 

 Robert Cole

“Bryan’s experience developing and deploying prescriptive analytics makes him an excellent leader to spearhead this vital component of our business.”

 

Gatzemeyer has several certifications in revenue management specific to the hospitality industry, including CHRM (AHLEI), CHIA (AHLEI) and CRME (HSMAI).  He graduated from the University of South Dakota with a bachelor’s degree in business administration.

 

 CONTACT:

 

Chris Daly

Daly Gray, Inc.

703-435-6293

chris@dalygray.com

 

www.hvmg.com 

JLL Capital Markets handles the $23 million construction loan and $15 million joint venture equity for a speculative industrial development in Casa Grande, AZ

 

 Kelly Royle

 PHOENIX, AZ, June 8, 2023 –  JLL Capital Markets announced today that it arranged $15 million in joint venture equity and $23 million in financing for the development of KV Casa Grande, a state-of-the-art, industrial development totaling 314,453 square feet in Casa Grande, Arizona.

Rendering of KV Casa Grande,
 a state-of-the-art, industrial project
 totaling 314,453 SFin Casa Grande, AZ

JLL worked on behalf of the borrower, Kentwood Ventures, to secure the loan through CrossFirst Bank and equity through Blue Vista Capital Management.

Jason Carlos

 KV Casa Grande will sit on an 18.68-acre parcel at the corner of Thornton Rd. and Lawrence St.

Key building features will include 32-foot clear heights, a 175-foot concrete truck court, 28 dock-high doors, 14 grade-level doors and 339 parking spaces.

The project broke ground in April 2023 and is projected to be completed over the next year. 

The development is centrally situated in Casa Grande’s expanding industrial submarket, an extension of Phoenix’s Southeast Valley industrial market, which includes Tempe, Mesa, Chandler, Gilbert and Sky Harbor International Airport.

Tony Lydon

Casa Grande has an industrial vacancy rate of 1.3% and limited speculative construction. The pro-growth community is positioned at the crossroads of the I-8 (San Diego), I-10 (Phoenix/Tucson/Los Angeles) and SR85 (Mexico), providing efficient transportation options throughout the Southwest Region.

Additionally, the project is located within Pinal County, one of the fastest growing counties in the country with 500,000 residents and growth projections to more than double by 2045.

John Lydon

The JLL Capital Markets Debt and Equity Advisory team was led by Senior Director Jason Carlos and Associate Jarrod Howard. Leasing will be spearheaded by Tony Lydon, John Lydon, Hagen Hyatt and Kelly Royle.

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.

Hagen Hyatt

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

About Kentwood Ventures

 

Kentwood Ventures is a private real estate development and investment company focused on superior risk/return opportunities. 

 Jim Zemezonak

Together the principals, Kevin Dretzka and Jim Zemezonak, bring a combined 70 years of experience and have completed $8 billion in transactions both locally and nationally.

 

About CrossFirst Bankshares, Inc.

CrossFirst Bankshares, Inc. (Nasdaq: CFB) is a Kansas corporation and a registered bank holding company for its wholly owned subsidiary CrossFirst Bank, a full-service financial institution that offers products and services to businesses, professionals, individuals, and families. CrossFirst is headquartered in Leawood, KS.  

 

CONTACT:

 

Alli Semans

 Public Relations, Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

 jll.com

https://bluevistallc.com/

 

JLL closes $80 million land recapitalization and vertical equity capitalization for mixed-use development in Brooklyn, NY

 

 NEW YORK, NY, June 7, 2023 – JLL Capital Markets has closed an $80 million land recapitalization and arranged the equity capitalization for the development of a mixed-use community located at 499 President Street in Gowanus, Brooklyn.

 

 The community will feature 350 luxury apartments and approximately 20,000 square feet of ground-floor retail.

Christopher Peck

JLL arranged the joint venture that will develop and operate the property. The joint venture is a partnership between The Brodsky Organization, Avery Hall Investments and Battery Global Advisors.

 

Upon completion in 2025, the nine-story development will feature 262 (75%) market rate units and 88 (25%) affordable apartments and be one of the final New York City developments constructed under the Affordable New York Program.

  

499 President Street is located at the border of Gowanus and Park Slope, which is surrounded by the brownstone neighborhoods of Boerum Hill and Carroll Gardens.

 

The JLL Capital Markets Advisory team was led by Senior Managing Director, Christopher Peck, Director, Nicco Lupo, and Vice President, Jonathan Faxon.

“The recent rezoning has paved the way for the transformation of Gowanus from a predominantly industrial neighborhood to a vibrant new community of homes, open space and dynamic retail,” said Peck.

 

Nicco Lupo

“499 President Street sits at the heart of that transformation, which positions the development to benefit from positive tailwinds in the multifamily housing market.”

About The Brodsky Organization

 

The Brodsky Organization is one of Manhattan's most established developers, owners, and managers of residential and commercial spaces in New York City.

The company has developed over 10,000 apartments in more than 85 rental, condominium, and co-op buildings.

 

The neighborhoods span from West and Greenwich Village to Chelsea, Midtown West to Morningside Heights, and Midtown East to Carnegie Hill and Downtown Brooklyn.

 

 

Contact

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

Illustrated Properties Adds High-Volume Realtor Jill Stone to Jupiter, FL Office

 

Jill Stone 

Jupiter, FL, June 07, 2023 – Illustrated Properties continues to build out its team of high-powered luxury Realtors, adding Jill Stone as a Sales Associate in its Jupiter office.

  Stone brings over 10 years of real estate knowledge and experience to the firm as a $20 million producer.

 

Stone began her career as a Realtor in Western Massachusetts in 2014. After moving to Florida, she spent two years expanding her local knowledge as a Senior Real Estate Advisor with Compass, specializing in luxury real estate.

 

In her new role, Stone will be creating her own real estate group named Stone & Co. and continue to focus on luxury real estate as an agent, relocation specialist, consultant and advisor to her many clients.

 

Daniel Dennis

"Jill brings immense energy as a realtor and we are excited to welcome her to our Jupiter office," Illustrated President Daniel Dennis said. "We look forward to assisting her continued success with our industry-leading real estate tools and technology."

 

Stone is an active member of the National Association of Realtors and was named a Top Jupiter Agent in Top Agent Magazine in Aug 2022. She received her bachelor's degree from the University of Massachusetts Amherst.

 

Illustrated's Jupiter office is located at 300 W Indiantown Rd, Jupiter, FL 33458.

 

  

CONTACTS:

Eric Kalis and Daniel Benjamin,

 BoardroomPR

ekalis@boardroompr.com

dbenjamin@boardroompr.com

954-370-8999

 ipre.com.

 

Tom Sullivan joins JLL’s Boston Capital Markets team

 

Tom Sullivan

BOSTON, MA, June 7, 2023 -JLL Capital Markets announced it has hired Tom Sullivan as a Senior Managing Director in its Boston office. Sullivan, who will be part of the Capital Markets group, will focus on debt and equity advisory transactions throughout the Northeast.

 

Sullivan joins JLL from a global commercial real estate firm where he spent the last six years building and leading the structured finance advisory group for its New England region.

 

 During this time, he successfully advised on more than $3 billion in debt and equity transactions for institutional clients, as well as regional/local operators and developers.

 

Prior to his tenure there, Sullivan spent 14 years as a lender working on heavily structured CMBS, mezzanine and balance sheet loans with a focus on the Mid-Atlantic through New England corridor.

 

Sullivan has handled more than $12 billion of debt and equity transactions across all asset types during his career, including multi-housing, industrial, office/biotech, retail and development sites/land.

Brett Paulsrud

“In today’s environment, our clients are relying on us more than ever for expert advice in navigating the capital markets space,” said Brett Paulsrud, Senior Managing Director and co-lead of JLL’s Boston Capital Markets team.

 

“We’re thrilled to onboard Tom, who is an industry veteran with a varied background from both the lending and intermediary aspects of the business. Tom will undoubtedly be an immediate value-add to JLL as a firm and our client-base.”

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