Investor acquires 19-acre site in Los Angeles area for $30 million; will develop a luxury senior housing community

Bryan Lewitt

  LOS ANGELES, CA, Jan. 24, 2024 – JLL announced California Commercial Investment Group has acquired a 19-acre site adjacent to the iconic Motion Picture & Television Fund campus in Woodland Hills, California for $30 million. 

California Commercial Investment Group will develop a luxury senior living life cycle community encompassing approximately 300 units on the site.  Construction is scheduled to begin 2026 with completion planned for 2028.

 The new luxury senior living community will feature beautiful and spacious apartment homes, penthouses, and villas, ranging from one to three bedrooms with multiple configurations, and underground parking. 

Michael Slater

It will also include a resort style pool and spa, gourmet restaurants, athletic courts, outdoor games, movie theatre, wine bar and roof top lounge, longevity fitness center, learning center, and nature trails.

 “This is a great opportunity for a premier developer in California Commercial Investment Group to acquire and develop a much-needed luxury senior living community in a pristine location,” said Bryan Lewitt, JLL Managing Director.

The 19-acre site is ideally located on Mulholland Drive in the Santa Monica Foothills.  It is just steps from the Calabasas farmers' market adjacent to the Motion Picture & Television Fund campus.

 JLL’s Bryan Lewitt represented the seller, Motion Picture & Television Fund. The buyer was represented by Michael Slater of CBRE.

 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.”

 

URS Secures Wood Partners nearly a Half Million Dollar Refund from City of Longwood, FL; Numerous Requests About High Water Bills and Overpayments Went Unanswered

 

 Tim Bonenberger

Dublin, OH  -- Utility Revenue Services (URS) , a national leader in seamless utility management for developers, real estate owners and management companies has  secured Wood Partners a refund of $436,802 for overpayment of water and sewer services for its Alta Longwood Property. 

 URS determined that improper meter reading by the water district and incorrect application of rates caused the mix up.

According to Wood Partners VP and property controller, Tim Bonenberger, there had been a situation of high water costs at its Alta Longwood property for many months.  Inquiries made to the City of Longwood were unanswered, so Wood Partners turned to their utility billing vendor for an investigation.

The billing company determined the master water meter was the problem and persuaded the city to change it, yet the problem persisted.

Upon request by Wood Partners’ management, URS examined the situation.  URS found from  past utility bills there were serious issues: consumption was out of line for the number of apartments and the rate application was incorrect.

URS reviewed two years of water/sewer invoices for progression of usage and determined the meters were not faulty, they were being read incorrectly by the water district.

URS recalculated the charges based on the correct rates to determine the overpayment was $436,802.01.  Upon receipt of the documentation the City of Longwood refunded the full amount.

“When neither our utility billing vendor nor our staff could get to the bottom of the problem with the water district, we turned to URS. 

 In a matter of weeks, URS identified the problem and  secured a refund of nearly a half million dollars for the community,” said Bonenberger.   

“URS is a trusted partner that goes above and beyond to service our properties.  We are grateful for their work and dedication to Wood Partners.”

 

About URS

Since 2007, URS has been a national leader in providing seamless utility management services to real estate owners, developers, and management companies. By optimizing the intersection of development, construction, and utilities, URS maximizes net operating income and streamlines all utility operations.

URS' services include utility auditing, developer assistance, sustainability services, expert guidance in gas and electric procurement, and dry utility consulting.

 

 

 

Contact:

 

 Amy Gorin Grossman

Grossman Public Relations

amygrossmanpr@gmail.com215-805-0299 

 

 

JLL Capital Markets brokers sale of the 103-unit / 297-bed Oso Verde Student housing community at Baylor University in Waco, TX

 

 Teddy Leatherman

 DALLAS,TX, Jan. 24, 2024 – JLL Capital Markets has closed the sale of Oso Verde, a 103-unit / 297-bed student housing community located near Baylor University in Waco, Texas.

 

JLL worked on behalf of the seller, Bullseye Development, and Versity Invest, LLC, who acquired the asset.

Oso Verde, a 103-unit / 297-bed student housing community located near Baylor University in Waco, TX

Oso Verde features one-, two-, four- and five-bedroom, fully furnished units with 10-foot ceilings, vinyl plank wood flooring, walk-in closets, HD flat screen televisions, granite countertops, stainless steel appliances, luxe finishes, washers and dryers, private bathrooms for all bedrooms and patios and balconies.

 

 Community amenities include a shuttle bus service, a resort style pool with a lounge deck, a fitness center, volleyball and basketball courts and putt putt golf. 

Scott Clifton

Situated at 2501 S University Parks Dr., the property is less than one mile from campus, just off Brazos River, and is a five-minute drive to McLane Stadium.

 

Students benefit from proximity to downtown Waco and the Waco Riverwalk, offering shopping, dining, and nightlife. Additionally, the community offers easy access to I-35.

 

The JLL Capital Markets Advisory Team was led by Managing Directors Teddy Leatherman and Scott Clifton, as well as Director Kevin Kazlow.

Kevin Kazlow

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:

 

 Jenna Sharp

JLL, Public Relations

 Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

Hotel Industry Veteran Carmen Almos Launches Ashburton Hospitality Advisors

  

 Carmen Almos

ATLANTA, GA —Industry veteran Carmen Almos has launched Ashburton Hospitality, a full-service consultancy firm focused on asset management. 

 

 The firm began initial operations in 2023 and already has amassed a portfolio that includes nine hotels across brands such as Hilton, Marriott and IHG.

 

            “As a female- and minority-founded business whose leadership brings ownership and operational experience to the table, Ashburton brings its own, unique perspective to asset management,” Almos said. 

 

“In just 90 days of oversight, our hotels have improved gross operating revenue by 7.3 percent, reduced labor costs by 5.7 percent (through reduced overtime and increased housekeeping efficiencies) and raised hotel RevPAR index (RPI) by 3.2 percent, demonstrating our ability to attain strong results. 

 

"We look forward to improving these numbers as we further implement our proprietary strategies and sharing similar results with new clients.”

                        “It is important to me to help create acquisition opportunities that pave a pathway to women and minorities within the sector,” Almos added. 

“Though women make up more than half the workforce, they account for a much smaller percentage of ownership.  I am delighted to see those numbers improving annually and look forward to helping them grow even further.”

            In addition to Ashburton’s advisory services, the firm is actively pursuing acquisition opportunities to grow the portfolio.  With headquarters in Atlanta, Ga., the firm provides services throughout the country with a particular focus on select- and limited-service hotels along the Eastern Seaboard.

Prior to founding Ashburton, Almos was senior vice president of strategic operations for Mission Hill Hospitality. 

Dubai travel by camel

Previously, she served as senior vice president of acquisitions and asset management for Investra Capital, Inc., a Dubai-based private equity firm.

 

Her early career began as an asset and feasibility manager overseeing Africa and the Indian Ocean for South Africa-based IFA Hotels & Resorts listed on the Kuwait stock exchange.

                                                                                                               

Contact:

 

  Chris Daly, media

  chris@dalygray.com

  (703) 864-5553.

 

JLL Capital Markets arranges sale of the 543,378-square-foot, Target-anchored open-air retail portfolio located in the Toledo, OH MSA

  

Keely Polczynski

PHILADELPHIA, PA – JLL Capital Markets has closed the sale of the Monroe Street Portfolio, a 543,378-square-foot collection of three, adjacent, open-air shopping centers located in Toledo, Ohio. The price was not disclosed.

 

 Jim Galbally

JLL represented the seller

 and procured the buyer, Triple BAR Group. The deal was managed by J.C. BAR Properties, along with Triple Crown Corporation.

The 94%-occupied portfolio includes Franklin Place, Monroe Street Marketplace and a Fresh Thyme Market-anchored center.

 

The properties feature an excellent credit profile and stable, predictable revenue stream with high-performing credit and anchor tenancy that includes Target, Golf Galaxy, Gabe’s, Bob’s Discount Furniture, Marshalls, HomeGoods, PetSmart, Five Below, Fresh Thyme and more.

 

The portfolio is one of the dominant, center-of-gravity open-air shopping centers in the extended trade radius along the Monroe Street Corridor (+22,000 VPD), ranking as the 3rd most visited property within a 30-mile radius with over 5.0 million visits over the last 12 months.

Michael Nieder

The property has enjoyed excellent leasing momentum since 2020 with over 45,200 square feet of new leases signed and 83,000 square feet of renewals executed.

 

The JLL Retail Capital Markets team that represented the seller was led by Senior Managing Director Jim Galbally, Senior Director Michael Nieder, Managing Director Keely Polczynski and Director Patrick Higgins.

 

“Investor interest for the portfolio was robust during the marketing process despite challenging macroeconomic conditions, underlining the strength of fundamentals and the durability of cash flows in the retail asset class,” said Higgins.

 

Patrick Higgins.

 

“The Monroe Street portfolio enjoys excellent positioning within the market and an excellent national credit and tenant lineup, which makes it a destination for high-performing retailers and consumers alike,” added Nieder.

 

“We continue to see robust investor demand for large format retail centers due to the high yield premium compared to other asset classes, as well as the excellent fundamentals in the retail asset class,” said Galbally.

 

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Contact:

 

Jenna Sharp

JLL, Public Relations, Capital Markets

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

Hospitality Ventures Management Group (HVMG) Names Mike Woodward Executive Vice President and Chief Growth Officer

  

Mike “Woody” Woodward 

ATLANTA, GA — Hospitality Ventures Management Group (HVMG), an Atlanta-based, privately-owned third-party hotel operator and investor, announced that Mike “Woody” Woodward has been named executive vice president and chief growth officer.

 

  In his new role as a member of HVMG’s executive team, Woodward will lead the organization’s growth and investment team and be responsible for strategies that lead to both third-party management agreements and property acquisitions.  In addition, he will have a strong focus on owner and investor relationships.

“From the restaurant industry to hotels, Woody has been a rising star and thus far has had a phenomenal hospitality career, implementing highly successful sales and growth strategies across multiple brands and companies,” said Robert Cole, CEO, HVMG. 

 

Robert Cole

 “With an extensive track record of success sourcing new opportunities, building teams and both cultivating new and maximizing existing relationships, his ingenuity and tenacity have led to almost unprecedented growth with the two hospitality companies he had been with over the past 18 years. 

"Woody's expertise, enthusiasm, authenticity and competitive nature are just a few of his key attributes that we thought would be ideal and a great fit as we ambitiously pursue our growth objectives in the coming years, and I am thrilled to welcome Woody to our team.”

Prior to joining HVMG, Woodward was senior vice president of franchise development for Focus Brands, a developer of global food service brands such as Schlotzsky's, Carvel, Cinnabon, Moe's Southwest Grill, McAlister's Deli and Auntie Anne's.   

Previously, Woodward was senior vice president of franchise development for Wyndham Hotels and Resorts, where he was promoted several times during his 16-year tenure and ultimately responsible for the growth of 20 hotel brands. 

  During his 20-year career, he has received multiple RVP of the Year, All-Star and President's Club awards.  Woodward earned his Bachelor of Arts in economics from the University of Connecticut while playing all four years for the Men’s basketball team.

                                                                                                               

Contact:

           

Chris Daly

Daly Gray, Inc.

703-435-6293

chris@dalygray.com

 

Hold-Thyssen Closes Last Lease at Southwest Orlando’s Phillips Place in Orlando, FL, Boosting Occupancy to 100 Percent

ORLANDO, FL --- Darby Hold, Senior Director at Hold-Thyssen, Inc., a full-service real estate services firm headquartered in Winter Park, leased the last available space at the end of 2023 to an established sales and management firm at Phillips Place, 7575 Dr. Phillips 

-- Darby Hold

Blvd.

Bob Hold

The multi-year lease to Gustin Group, LLC brings the 56,000 square foot Phillips Place to 100 percent occupancy.

 Hold-Thyssen, the leasing and management representative at the upscale office/retail campus in southwest Orlando, completed Q4 leases there for a total of 5,772 square feet of space, bringing Hold’s total leased space for 2023 in the Orlando market to 31,519 square feet valued at more than $3,500,000.00.

Phillips Place, 7575 Dr. Phillips Boulevard,
southwest Orlando, FL

Besides Gustin Group, tenants completing recent lease agreements include First Mover Finance;  Patten Law; Real Asset Investors; A&P International and American Concept & Design. 

 

Hold negotiated all of the transactions representing the Cincinnati, Ohio-based Landlord, Financial Way Realty, Inc.  

 

Hold-Thyssen provides commercial property brokerage and leasing and management services to institutional and private investor clients nationwide.  The 40-year old firm’s current portfolio includes more than 100 commercial properties throughout the United States.

                                                                                                               

Contacts:

           

Anthony Fisher

 Vice President

 Hold-Thyssen Real Estate Services,

 407-691-0505 

afisher@HoldThyssen.com 

 

Robert P. Hold

Principal

Hold-Thyssen, Inc.

 407-691-0505

 bhold@HoldThyssen.com

 

Beth Payan

 Larry Vershel Communications Inc.

407-461-3781 

beth@larryvershel.com.