Thursday, October 19, 2023

Kieran Miller, MAI, and Justin Perkins join JLL Value and Risk Advisory multi-housing team in New York and Los Angeles

  

Justin Perkins
NEW YORK, NY,  Oct. 19, 2023 – JLL’s Value and Risk Advisory platform announced today that it has hired two multi-housing experts in key gateway markets.

 Kieran Miller, MAI, joined the firm as a Senior Director in New York City and Justin Perkins has joined as a Director in Los Angeles.

 

Miller and Perkins will focus on multi-housing value and risk advisory assignments and will report to Peter Rastetter, MAI and Aaron DeCollibus, MAI, CCIM, AI-GRS, Executive Directors for the national multi-housing practice in New York and the West Coast, respectively.

 

Kieran Miller
“We’re excited to add Kieran and Justin to the team, especially in these key gateway cities that are critical markets for our institutional clients,” said Kai Pan, Executive Managing Director and the National Head of the Multi-Housing Property Sector for JLL Value and Risk Advisory.

 

“Multi-housing remains a preferred asset class for investors and our clients are demanding insights into the current value of their assets, as well as the risk due to natural disasters, rising insurance costs and more.

 

 "The addition of valuation experts, Kieran and Justin, will help our clients evaluate their asset’s value and risk positions in the dynamic markets of New York and Los Angeles.”

 

Kai Pan
Miller has more than five years of experience in commercial real estate with a background in analysis and appraisal. 


He was a Senior Commercial Real Estate Appraiser most recently at AEI Consultants and previously at BBG. His experience includes valuation for bank financing and estate and litigation purposes. 


Miller is a graduate of St. Lawrence University in Canton, New York.

 



Aaron DeCollibus
Perkins joins JLL from BBG, Inc. where he was a Senior Appraiser involved in the valuation of a variety of investment-grade properties across the U.S.

 In addition to his valuation background, he spent time at James Capital Advisors as a Senior Associate working with loan originators to underwrite loans for commercial properties and at CIT Group as an Assistant Vice President Portfolio Management/Underwriting.


Peter Rastetter


 Perkins has a Bachelor of Arts and a Masters in Real Estate Development from New York University.

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

  

U.S. property valuation and tax consulting services are performed by JLL Valuation & Advisory Services, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated.

 

CONTACT:


Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@jll.com

 

jll.com

Wednesday, October 18, 2023

JLL arranges sale of SLS Brickell in Miami

SLS Brickell, a 124-room luxury and lifestyle hotel
located in Miami’s Brickell submarket 
 

 MIAMI, FL JLL’s Hotels & Hospitality group announced on behalf of Constellation Hotels Holdings that the firm has arranged the sale of SLS Brickell, a 124-room luxury and lifestyle hotel located in Miami’s Brickell submarket for the second time.


Michelle Kelban

The Kastrati Group acquired the hotel for $53.5 million and was represented by Jordan Karp and Disruptive Real Estate. The sale did not include the restaurant space formerly known as Bazaar Mar by Jose Andres, as JLL had sold it in a separate transaction to Black Lion Investment Group in Q1 of 2023.


 Jordan Karp 
Managing Director Andrew Dickey and Senior Vice President Maciej Polek led the JLL team on the transaction. This team also led the financing and sale of the SLS South Beach in 2015.

 

 The seller was also represented by Latham & Watkins in the disposition, led by Michelle Kelban, Global Co-Chair of the firm’s Real Estate Practice, and Aaron Friberg counsel in the firm’s San Diego office.

 

“This transaction was a great opportunity to work with the Constellation team again and to continue our global relationship,” said Dickey.

Andrew Dickey

“This asset was highly sought after with several bidders, which reflects the quality of the asset, its improving location within Brickell, and the long-term view of Miami’s growth.”

 

The SLS Brickell was developed by the Related Group, designed by Philippe Starck and Arquitectonica, opened in 2016 and is located within the SLS Tower, one of Brickell’s most successful mixed-use projects.

 

Amenities include nearly 58,000 square feet of indoor and outdoor event space, an upscale three-meal restaurant, three bars and lounges, and an expansive rooftop pool and spa.


Aaron Friberg
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years and has sold/financed 60% of all hospitality transactions in the state of Florida since 2010. 

 

Our hotel valuation, brokerage, asset management, and consultancy services have helped more hotel investors, owners, and operators achieve high returns on their assets than any other real estate advisor in the world.JLL’s Hotels & Hospitality Group  


 Maciej Polek
For more news, videos and research resources on JLL Hotels & Hospitality, please visit the firm’s U.S. media center web page: https://www.us.jll.com/en/industries/hotels-and-hospitality.

 

 

 Contact:


Kristen Murphy

Director, Public Relations, Americas

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

T +1 617 848 1572

M +1 617 543 4873

Kristen.Murphy@jll.com

 

jll.com

 

Tuesday, October 17, 2023

McCullough Landscape Architecture Expands in Los Angeles

  

Kira Becker

Los Angeles, CA – McCullough, an award-winning landscape and urban design firm, announced that it has expanded its presence in the Los Angeles Area with the investment in expanding its workforce and capabilities.


Olivia Wax

While the San Diego-based firm has offered services via its presence in Los Angeles, this operational investment marks an expansion of the McCullough team and an affirmation of the firm’s commitment to the Los Angeles area and greater Southern California.

 

Bianca Zeto

On the heels of its recent Bay Area office expansion, McCullough announced the growth of its Southern California office with five new hires and enhanced capabilities serving the Los Angeles area.


Haya Abboodi 


 McCullough welcomes rising star Associate Landscape Designer Kira Becker onto the Los Angeles team. In addition, the San Diego office additions include Olivia Wax as Junior Associate, Bianca Zeto as Project Accountant, Lindsey Bonjean as Office Administrator, and Haya Abboodi as Intern.

 

Lindsey Bonjean

“By hiring a dedicated landscape designer in Los Angeles and expanding our team, we will be better positioned to collaborate with owners, developers, architects and other stakeholders, and share our knowledge and expertise even more effectively,” observed David McCullough, ASLA, PLA, Principal Landscape Architect at McCullough.

 

David McCullough

New team member Kira Becker is a recent graduate of University of California, Los Angeles’ Landscape Architecture extension program, holds a B.S.in Industrial Engineering from Southern Methodist University, and an ASLA Honor Award Recipient

 

Her portfolio includes projects in sectors such as residential, commercial, and multifamily projects around Southern California, focused on Los Angeles-based regional projects.

 

The company’s previous work in the Los Angeles Area includes projects for One South, Peninsula Pointe, and Red Car Properties. Student housing projects include at Mt. San Antonio College, Crafton Hills College, and Oxnard College.

 

Contact:


David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

Monday, October 16, 2023

South Carolina's Kristie Anderson named Agent of the Year at National Real Estate Summi

Kristie Anderson and Lake Homes Realty CEO Glenn Phillips
 who recognized Anderson with the national real estate honor
 
  

Birmingham, AL– Kristie Anderson  of South Carolina has been a finalist for Agent of the Year from Lake Homes Realty for multiple years and came home with the top prize  the Splash Award.


The Splash Award is given to the company’s overall top-performing agent/agent of the year. Anderson is a lake real estate specialist who was born and raised on Lake Marion, South Carolina, where she specializes in lake real estate.  She also sells properties on Lake Moultrie.

Lake Homes Realty CEO Glenn Phillips recognized Anderson with the national real estate honor.  

"We have wonderful lake real estate agents across the country and I am still in awe of the honor,” said Anderson.  

“I’m honored, surprised, and thankful for winning this year’s Splash Award because it recognizes my relationships I have with my clients,” she says.

 “My philosophy is to help guide clients through the process of selling or buy a lake property and offer them local lake expertise,” she says.

Anderson joined Lake Homes Realty as an agent in 2015 with the encouragement of her husband Russell. Russell has joined Lake Homes Realty as an agent. The  couple have two children.

In addition to winning Agent of the Year, Anderson also received a “Big Wave Award” which is given to Lake Homes Realty agents selling between $10 million and $25 million in the past year.

 Lake Homes Realty offers lake real estate services in 34 states across the country. The Agent Summit took place from Oct. 10 to 12, 2023 in Birmingham, Alabama, where the company is headquartered. The awards were presented on Thursday, October 12 at 11 a.m.

 Kristie Anderson serves secretary on the Sumter MLS Board of REALTORS and will move into Vice President roll in 2024. Anderson has been attending the South Carolina REALTORS Leadership Academy in 2023 and will graduate on October 19. She acquired her real estate brokers license in 2022. 

. For more on Kristie Anderson and Lake Homes Realty, please visit  www.lakehomes.com.

 

CONTACT:

 

Bill Lang  

Director of Public Relations  

blang@lakehomes.com  

Office:  866-525-3466  

Cell:      205-218-3561   

500 Corporate Parkway, Suite 400  

Hoover, AL 35242  

www.LakeHomes.com  

www.Beach-Homes.com

The Nation’s Largest Lake-Focused Real Estate Brokerage 

 

Sunday, October 15, 2023

Daum Commercial completes $16 million sale of 43,540 SF warehouse in Compton, CA

Elizabeth Capati
 COSTA MESA, CA – DAUM Commercial Real Estate Services has completed the sale of an industrial warehouse asset totaling 43,540 square feet in the South Bay submarket of Compton in Los Angeles County, California.

Anthony Bergeman, SIOR, an Executive Vice President and Principal at DAUM Commercial, represented the buyer, a private investor. The seller was represented by Jeff Smart and Elizabeth Capati of Colliers. The property at 1303 West Walnut Parkway in Compton sold for $16 million.

Anthony Bergeman

According to Bergeman, the team—part of DAUM’s Investment Division, based in Costa Mesa, California—leveraged their experience to overcome the challenges being felt in the current financing market to deliver a deal that was a win-win for the seller and buyer.

The South Bay market is in extremely high demand coupled with the very tight availability of properties for sale.

“The South Bay communities of Carson, Compton, Rancho Dominguez and Gardena are at the nexus of the huge population center of southern Los Angeles County.

The scarcity of new available space means investors looking for industrial property in this market need a well-connected broker to help identify and close on the deal,” comments Bergeman.

 “Though there has been a slowdown in deal volume thus far in 2023, the closing of this transaction bodes well for the rest of 2023 with CRE deal flows accelerating into 2024.”

 Jeff Smart
Though overall vacancy rates have increased since record lows in 2022, industrial asset vacancies in the South Bay area are still less than 4% in the Carson, Rancho Domiguez, and Compton subsections.

 Last-mile access to large populations continues to drive investor demand for well-located industrial space. 

According to Prologis research, e-commerce’s total share of consumer spend is expected to increase to 25% by 2025, which will continue to drive demand for warehouse space as e-commerce requires three times the logistics space compared to brick-and-mortar retail.

The property sits on 1.8 acres within a highly active industrial hub, and is located blocks away from the 91 Freeway, 20 minutes from LAX, and 30 minutes from the Ports of Long Beach and Los Angeles.

 

Long Beach, CA port

There are two drive-in loading areas and six dock-high doors with ample turning radius for 53-foot truck loading. The site has 93 parking spaces and a fenced yard.

New ownership plans to meet the needs of today’s last mile logistics users by removing the excess mezzanine office space and implementing extensive renovations to reduce and modernize the onsite office footprint.

CONTACTS:


Hanna Kokuashvili / Kiera Moran  
The Smart Agency, Inc.
(949) 438-6262 
hkokuashvili@thesmartagency.com

www.daumcommercial.com. 

Saturday, October 14, 2023

JLL arranges $84 million in post-close acquisition financing for Azusa Industrial Center in Azusa, CA

FINANCED: Azusa Industrial Center,
Azusa, CA, has  received 
$84 million
                   in post-close acquisition financing  

 

LOS ANGELES, CA  –  JLL Capital Markets   a three-building industrial park totaling 432,500 square feet located in Azusa, California has arranged $84 million in post-close acquisition financing for Azusa Industrial Center.

 

Jace Bertges

JLL worked on behalf of the borrower, IDS Real Estate Group, to secure the four-year, floating-rate loan through PGIM Real Estate’s debt fund focused on transitional bridge lending.

 The PGIM Real Estate team was led by Vice President Jace Bertges.


The JLL Capital Markets team was led by Managing Director Matt Stewart, Associate Ace Sudah and Analyst Daniel Skerrett.


 

Matt Stewart


Despite continued market volatility, we are finding there is ample liquidity for well-located infill industrial properties with strong fundamentals and institutional sponsorship,” said Stewart.

 Built between 1986 and 1987, this 432,500 square foot, three-building industrial property is 100% leased to four tenants and features institutional-grade industrial specs. 


Spanning 23.6 acres, the Property features a total of 73 dock doors, seven grade-level doors, truck courts ranging from 130 to 160 feet, and clear heights ranging from 24 to 30 feet.

 

Ace Sudah

Azusa Industrial Center offers a ground-zero industria logistics location with close access to Southern California’s robust freeway network, located minutes from the I-210 and I-605 Freeways. 


The Property is also located near other key nodes of transit, such as Ontario International Airport, the Los Angeles & Long Beach Ports, and Los Angeles International Airport.

 

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


Daniel Skerrett
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, please visit JLL’s newsroom.

 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

 

Contact: 


Alli Semans,

 Public Relations, Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

 jll.com.

pgimrealestate.com.