JLL Capital Markets leAds the $52 million refinancing effort with MidCap Financial providing loan for the 168-unit Atria Newport Beach in Newport Beach, CA

  

Atria Newport Beach, a 168-unit senior living
community in Orange County, CA.

SAN DIEGO, CA –  JLL Capital Markets announced today that it arranged a $52 million refinancing for Atria Newport Beach, a 168-unit senior living community located in the Newport Beach enclave of Orange County, California.

 

JLL represented the borrower, a partnership between a national REIT and Atria Senior Living. MidCap Financial, a leading commercial finance company focused on middle market transactions, provided the floating-rate first mortgage loan.

 

Atria Newport Beach is located at 393 Hospital Rd. in a prime location with high visibility off of Newport Boulevard and in close proximity to Hoag Hospital. The Newport Beach area is one of the most affluent communities in Southern California and provides the property with exceptional surrounding demographics.

Aaron Rosenzweig

The Class A property was built in two phases with the North Building fully renovated in 2023, while the South Building was purpose-built and opened in 2021. The three-story buildings are home to independent living, assisted living, and memory care units offered in studio, one- and two-bedroom layouts. 

Community amenities include 24-hour support staff, all-day dining, valet and concierge services, fitness classes, car service, housekeeping, salon and spa, yoga studio, theatre, library, game room and an underground parking garage.

Dan Baker

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Aaron Rosenzweig and Director Dan Baker.

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, please visit JLL’s newsroom.

CONTACT: Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com

 

CA  RE license # 02111877

us.jll.com/capitalmarkets

Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413

Viewpoint Development acquires iconic restaurant building in San Diego’s Old Town area for $9 million

  

SAN DIEGO, CA – Confirming the demand for well-located real estate, JLL and Flocke & Avoyer Commercial real estate announced that Viewpoint Development has acquired a 4,000-square-foot restaurant building located on 1.74 acres at 4620 Pacific Highway in San Diego, California for $9 million. 

 Brian Quinn

 

Viewpoint Development will develop residential housing on the site recently occupied by the iconic Perry’s Café restaurant with a portion of the historic cafe repurposed as part of the project. The company is still going through design approvals with the city for the new development.

JLL’s Brian Quinn and Steve Avoyer of Flocke & Avoyer Commercial Real Estate represented the seller, Georgakopoulus Family LLC, as well as Viewpoint Development in the sale.

 Steve Avoyer 

“Despite the economic and real estate challenges of this type of deal, we were able to work with both sides to get the closing to the finish line,” said Quinn, JLL Senior Vice President. “This was a collaborative effort by all parties to find the right buyer while overcoming environmental and historic issues.”

 

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)

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JLL Capital Markets facilitates $70 million bridge loan for Atlantica at Town Center, a Class A apartment community in Davenport, FL

 

Atlantica at Town Center– Phase I, a Class A,
360-unit apartment community in Davenport, FL

 MIAMI, FL –  JLL Capital Markets has secured a $69.57 million refinancing for Atlantica at Town Center – Phase I, a Class A, 360-unit apartment community in Davenport, Florida.

 

JLL worked on behalf of the borrower, Sovereign Properties and Invest Capital Group, to secure the two-year, floating-rate bridge loan through Timbercreek Capital.

Gregory Nalbandian

Completed in December 2022, the property features 14 three- and four-story residential buildings, comprising of one-, two- and three-bedroom units ranging from 683 square feet to 1,435 square feet, which are some of the largest units in the area. 

Additionally, this garden-style community offers residents numerous sought-after amenities, such as a large resort-style pool, gaming lawn, dog park, pet spa, fitness center, yoga and spin room, demonstration kitchen and coworking space.

Kenny Cutler 

Located at 1121 Loblolly Lane, Atlantica at Town Center offers residents effortless access to a diverse array of cultural and entertainment destinations, including regional shopping centers, Posner Park, Orlando International Airport and Downtown Orlando. 

Furthermore, the property is less than 15 miles away from Walt Disney World and Universal Studios as well as major employers such as Advent Health, Orlando Health, Amazon, FedEx, Darden, Wyndham and Walmart.

Josh Odessky

The JLL Debt Advisory team was led by Senior Managing Director Gregory Nalbandian, Director Kenny Cutler and Director Josh Odessky.

 

“Timbercreek Capital did an exceptional job meeting all of the client’s objectives and understanding this property’s competitive position within the Orlando MSA which is currently experiencing a number of new projects coming online,” stated Nalbandian.

CONTACT:

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877

us.jll.com/capitalmarkets

Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413

JLL Hotels & Hospitality group welcomes Tony Muscio as Senior Managing Director

 

Tony Muscio 

LOS ANGELES, CA –  JLL’s Hotels & Hospitality group announced Tony Muscio will be joining as a Senior Managing Director for its JLL Hotels & Hospitality group, leading the Western region.

 

With over 20 years of experience in the real estate industry, including 18 years at JLL, Muscio brings a wealth of knowledge and expertise to his new role. Specializing in the sale of luxury resorts and trophy hotels, Muscio has been involved in over $12 billion worth of hospitality transactions over the course of his career.

Kevin Davis

 Based out of JLL’s Los Angeles office, Muscio will report to Kevin Davis, Americas CEO for Hotels & Hospitality, and will work closely with Jeff Bramson and Jeff Sause, who co-head JLL’s Los Angeles Capital Markets team.

Jeff Bramson 

"We are thrilled to welcome Tony back to JLL to lead our Western region," said Davis. "Tony’s appointment is a commitment to growing our business in California, Hawaii, Arizona and Colorado, which are among the largest hospitality markets in the country. His leadership and expertise will play a pivotal role in driving business with our largest clients in this key region. I’m extremely excited to welcome Tony back."

Jeff Sause

Muscio’s career started at PKF Consulting, where he conducted hotel feasibility studies and appraisals. He later joined JLL in 2004, where he spent nearly two decades, most recently as a Managing Director in the Hotels & Hospitality Group, covering the West Coast and working on some of the largest sales in the region, including the Four Seasons Resort Hualalai, Four Seasons Resort Bora Bora, Montage Beverly Hills (now The Maybourne Beverly Hills) and the recapitalization of Sunset Tower Hotel. Muscio’s latest role was as a Managing Director at KBC Advisors.

 

Muscio holds a bachelor’s degree from Cornell University’s School of Hotel Administration, where he is also a recurring guest lecturer.  

 

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

.

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

mdhpartners.com.

 

 

Class A industrial project, KV Buckeye 10, trades hands for $51 million in Buckeye, AZ

 

Kelly Royle

PHOENIX, AZ   – JLL Capital Markets brokered the $51 million sale of KV Buckeye 10, a new 249,600-square-foot industrial complex that is 60% leased. The project is located in Buckeye, Arizona, which has been ranked as the fastest-growing city in the U.S. over the past five years.

Greer Oliver 

JLL worked on behalf of the seller, Kentwood Ventures, to facilitate the sale to MDH Partners, LLC. KV Buckeye 10, completed in August 2023, is situated on an 18.7-acre site and consists of two buildings: one spanning 115,200 square feet and the other covering 134,300 square feet.

John Lydon 

The project was designed to seamlessly accommodate tenants of various sizes, from mid-bay to large enterprises, with optimal efficiency.

Additionally, the project is the only existing Class A industrial project in Buckeye with spaces available below 50,000 square feet.

Strategically positioned off the I-10 Freeway and Verrado Way, KV Buckeye 10 offers unparalleled access to the West Valley. Tenants benefit from high visibility along the I-10 Freeway, with convenient proximity to the Inland Empire, the Ports of Los Angeles and Long Beach, all within a travel time of 4.5 to 5.5 hours.

 Jim Zemezonak 

“Kentwood was fortunate to benefit from locating early in the robust I-10 corridor, dependable backers in ICM and CIBC and reliable support from the City of Buckeye,” said Jim Zemezonak at Kentwood Ventures.

 

The JLL Investment Sales and Advisory team was led by Senior Director Greer Oliver and Associate Connor Nebeker-Hay, who represented the seller in this transaction. JLL’s Managing Director John Lydon and Vice Presidents Hagen Hyatt and Kelly Royle were also retained by MDH to continue serving as the project’s leasing team.

Connor Nebeker-Hay

"KV Buckeye 10 is a rare investment opportunity," said Oliver. "It offers stable cash flow with 60% of the project already leased, and there is potential to create value by leasing the remaining space.

 

"The demand for small and midbay tenant sizes in Buckeye has remained robust, as there are no available spaces for tenants requiring less than 50,000 square feet. This strong demand is evident in the project being 43% pre-leased prior to completion."

 

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

Hagen Hyatt 

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. 

 

About Kentwood Ventures

 

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

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

mdhpartners.com.