JLL Capital Markets brokers $135 million first lien financing for the 122,324-square-foot Cross Creek Ranch in Malibu, CA

 

 

Allie Black

IRVINE, CA – JLL Capital Markets has closed the $135 million first lien financing for Cross Creek Ranch, a 122,324-square-foot, trophy, Class AA mixed-use property in Malibu, California.

 

The property consists of 71,605 square feet of retail and 50,719 square feet of creative, modern office space.

Bryan Gordon

JLL worked on behalf of the borrower, Pacific Equity Properties, to secure the five-year loan from Torchlight Investors.

 

Located in the heart of Malibu, the property consists of 10 one- and two-story buildings, and a subterranean parking garage. Tenants include a mix of luxury retail, chic boutiques, eclectic eateries, as well as creative, modern office users. 

 

Cross Creek Ranch is located at 23465 Civic Center Way in the renowned beach community of Malibu, which boasts an estimated 15 million tourists per year.

 

 Strategically positioned on 13 acres, it is directly adjacent to a Whole Foods Market in the core of Malibu’s shopping district, which also includes Malibu Country Mart, Malibu Village, and Malibu Lumber Yard. The center is approximately 13 miles from the Santa Monica pier and 21 miles northwest of Los Angeles International Airport.

Jon Stein

Pacific Equity Properties, a developer and owner of shopping centers and mixed-use properties, was founded in 1986 and is owned by Bryan Gordon.

 

“Malibu remains as one of the most thoughtful municipalities in the U.S. for community-focused and environmentally sensitive design," said Gordon.

 

"We were enthused by the debt capital market’s demand for the property, fueled by the irreplaceable location and exceptional retail and office leasing velocity prior to certificate of occupancy.”

John Marshall

The Torchlight Investors team was led by Jon Stein, Partner and Co-Head of Private Acquisitions.

 

“Torchlight looks forward to the new relationship with Pacific Equity Properties and seeing the asset through stabilization. We continue to pursue exciting opportunities to extend credit to well-capitalized sponsors in large markets for core-plus and value-add opportunities,” said Stein.

 

The JLL Capital Markets Debt Advisory team was led by Senior Director John Marshall, Associate Spencer Seibring and Analysts Allie Black and Tim Donald.

 

“Retail and mixed-use property is one of the most in-demand asset classes today. We were not surprised that best-in-class sponsorship and a 2024 award-winning design were able to attract multiple compelling bids in an evolving capital markets landscape,” said Marshall.

Tim Donald

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, or equity advisory. 

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

  

JLL Capital Markets represents the joint venture between Vitrian and Koelbel and Company for a conversion for biomanufacturing/advanced manufacturing facility in Boulder County, Colorado

  

Ginna Wallace

WASHINGTON, DC, Mar. 14, 2024 –  JLL Capital Markets announced today that it represented the joint venture between Vitrian and Koelbel and Company to raise equity for the Centennial Valley Innovation Center, the conversion of a vacant, former home improvement store into a state-of-the-art biomanufacturing/advanced manufacturing building totalling 134,393 square feet in Boulder County, Colorado.

 

Hilary Barnett

A fund managed by DRA Advisors LLC provided joint venture equity for the acquisition and conversion of the project for a conversion for biomanufacturing/advanced manufacturing facility in Boulder County, Colorado

Scott Nudelman.

The project is located at 1171 West Dillion Rd. in Louisville, Colorado, a 15-minute drive from Boulder and 30 minutes outside of Denver. 

The venture will reposition the former home improvement store into a state-of-the-art GMP/advanced manufacturing facility to cater to the Denver/Boulder life science and advanced manufacturing markets.

The project is located in the Centennial Valley Business Park, a highly-amenitized established life science and advanced manufacturing node, with many retail/restaurants accessible within walking distance.

 

Upon completion of the conversion, 1171 W Dillon Rd will offer the closest dedicated biomanufacturing and advanced manufacturing capable space to Boulder, home to the University of Colorado’s main campus and the largest life science R&D hub in the Intermountain West. The project will be ready for interior build within six months.

Rendering of planned biomanufacturing/advanced
 manufacturing facility at 1171 West Dillion Road
 in Louisville, CO

Boulder County benefits from an existing manufacturing labor pool, providing access to skilled workers. The region is a top five market for research jobs, and the No. 1 market for chemical engineers, No. 4 market for biological scientists, and No. 6 market for biological technicians.

Jim Meisel 

Additionally, the proximity to a major research university and hospital system venture arm offers access to grant funding opportunities.

 

“Vitrian, Koelbel and DRA have deep roots in the Colorado marketplace and in the Centennial Valley in particular,” said Co-Founder of Vitrian Scott Nudelman. 

“As biomanufacturing and non-pharma advanced manufacturing expands beyond the coastal markets, Boulder County will continue to benefit. 

"We look forward to collaborating with companies and stakeholders in the region, including the Colorado Bioscience Association and Institute, Front Range Community College and non-profit organizations focused on STEM workforce development.”

Peter Merrion

The JLL Capital Markets team was led by Senior Managing Directors Jim Meisel and Peter Merrion, Senior Director Dave Baker and Associate Ginna Wallace, as well as Senior Managing Directors Mark Katz, Andrew Weir and Matt Nicholson, Senior Director Hilary Barnett and Director Kevin Byrd.

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. 

Dave Baker

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. 

 

 

 

CONTACT:

 

Alli Stent

PR, Hotels & Hospitality

 Capital Markets

Chicago | JLL

M +1 330 329 6750

James Escarzega joins JLL’s San Francisco office as Managing Director

  

James Escarzega

SAN FRANCISCO, CA –  JLL’s Hotels & Hospitality group is pleased to announce the addition of James Escarzega as a Managing Director in its San Francisco office.

John Strauss

Escarzega will collaborate closely with John Strauss, who leads JLL’s west coast hotel efforts, and Charles Halladay, Executive Managing Director and co-head of JLL’s Capital Markets group in San Francisco, as well as Senior Managing Director Rob Hielscher to spearhead strategic initiatives and drive growth, focusing on hotel investment sales and advisory in the western U.S.

Escarzega brings over 20 years of experience in the commercial real estate industry, having previously worked at a global private equity firm and HFF. He holds a degree in Hotel Administration from Cornell University.

 

"We are thrilled to welcome James to our San Francisco office,” said Halladay. “James's background and expertise in the hotel sector will greatly enhance our capabilities and strengthen our position as a market leader.

 

Charles Halladay

"I am confident that his fresh perspective and strategic approach will drive tangible value for our clients.”

 

Kevin Davis, Americas CEO of JLL’s Hotels & Hospitality group, also shared his thoughts on Escarzega's appointment, stating,

 "We recognize the immense value James brings to the JLL team. His proven success in the commercial real estate industry and deep industry expertise will undoubtedly contribute to our ability to deliver comprehensive, client-focused solutions. 

"We are excited to have James on board and look forward to the impact he will have on our firm's continued growth."

Rob Hielscher 

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. 

The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. 

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.

 

Kevin Davis

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

 

CONTACT:

Alli Stent

PR, Hotels & Hospitality

 Capital Markets

Chicago | JLL
M +1 330 329 6750

JLL Capital Markets brokers $160 million construction financing for the 95-unit Caretta oceanside condominium development in Juno Beach, FL, JDL Corp.’s first project in Florida

 

Caretta, a 95-unit, luxury, boutique
condominium development located
in Juno Beach, FL

 MIAMI, FL – JLL Capital Markets has closed the $160 million construction financing for Caretta, a 95-unit, luxury, boutique condominium development located in Juno Beach, Florida.

 Matthew Lawton,

JLL worked on behalf of the borrower, JDL Development and Wanxiang America Real Estate Group, to secure the loan through Bsafal Inc.

 

The JLL Capital Markets Debt Advisory team was led by Executive Managing Director Matthew Lawton, Managing Director Brian Gaswirth, Associate Paul Adams and Analyst Shane Ciacci.

 

 "We are thrilled to collaborate with JDL, a highly regarded developer with an impressive portfolio of projects that have left an incredible mark on Chicago's skyline," said Gaswirth. "Their entry into the Juno Beach condo market presents a tremendous opportunity for them to create a similar legacy in South Florida."

 Brian Gaswirth

With an anticipated completion of 2025, Caretta will offer 95 expansive two-, three- and four-bedroom units, averaging 3,137 square feet.

 

Designed by Hartshorne Plunkard Architecture, Caretta will feature elegant finishes, 10-foot ceilings, European oak wood floors, quartzite countertops and large terraces, and select ground-floor units will offer private lawns and pools.

Additionally, eastern facing, upper floor units will have expansive ocean views given the low-rise nature of the properties to the east.

 

 Community amenities will include a rooftop deck with an infinity edge pool, a fitness center, a sauna, a catering kitchen, a card room, a wine storage room and lounges, in addition to a dog park, bike storage, a 24/7 concierge, dedicated beach service and more.

Paul Adams

The property will also feature ground-floor retailers and a restaurant, offering residents exceptional amenities to enjoy while creating an urban atmosphere.

 

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.

 Shane Ciacci.

 

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

 

jll.com.

 

 

Hold-Thyssen Completes New Multi-Year Lease Agreement for Relocation of Luxury Vacation Club’s Orlando Branch

Darby Hold 

WINTER PARK, FL -- Hold-Thyssen, Inc., a full-service commercial real estate services firm recently completed a multi-year lease agreement with Holidays Lounge, LLC  at 1031 W. Morse Blvd. in Winter Park.

 

The vacation and leisure lifestyle club leased a 1,686 square foot suite in the Class A office building to relocate its Orlando office.     

 

Senior Director, Darby Hold negotiated the agreement on behalf of Morse Boulevard Development Associates, LLC, landlord at the 47,852 square foot three-story office building that is currently 90 percent leased.

  

Rhonda Chesmore

Holidays Lounge provides its members with access to over 3,000 luxury resort destinations in more than 80 different countries.  Rhonda Chesmore of Kelly Price & Company represented the tenant in this transaction.

 

The 1031 W. Morse Blvd. building is also home to Seacoast Bank, Timber Resorts and Carr, Riggs and Ingram.

 

Hold-Thyssen, Inc. 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:

 

-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