Thursday, January 2, 2025

JLL Capital Markets secured the $24.5 million sale of vintage Forest Lake community in Forest Lake, MN

Village Apartments, a 252-unit multi-housing community in Forest Lake, MN.

 MINNEAPOLIS, MN,  Jan. 2, 2025 –  JLL Capital Markets has arranged the $24.5 million sale of Village Apartments, a 252-unit multi-housing community in Forest Lake, Minnesota.

 JLL worked on behalf of the seller, Gaughan Companies. Village Apartments marks the 7th property to trade in the broader 800-unit Minnesota Legacy Apartment Portfolio that JLL has been marketing for sale.

 

Situated at 407 11th Ave. SW, Village Apartments offers its residents the convenience of being close to I-35. With easy access to nearby public beaches, walking paths, entertainment options and shopping centers, residents can fully enjoy the vibrant surroundings.

 

Forest Lake is a sought-after Twin Cities suburb located just 30 minutes from Saint Paul, providing residents with easy access to the broader metro while maintaining its small-town charm and natural beauty centered around one of the metro's largest lakes.

 

Josh Talberg


Built in 1969, the community consists of three-floor brick and wood apartment buildings and detached rentable parking garages, as well as surface spaces available for residents.

 

The complex historically has maintained a strong occupancy rate of above 95% and offers residents a variety of living options, including studios, one- and two-bedroom units, some of which include additional dens.

 

 Each unit is cable ready and thoughtfully equipped with carpeting, ample closet space, balconies for enjoying the outdoors, ceiling fans, air conditioning and heating units and scenic wooded national views. The community also offers an array of amenities such as gated access, laundry facilities, picnic areas, a playground, a pool and convenient bike racks.

 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Director Josh Talberg.

  

Contact: 

 

Gréta Kieras

 Senior Associate,

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 gaughancompanies.com.

 

jll.com. 

 

Tuesday, December 31, 2024

Hold-Thyssen Completes New Multi-Year Lease to Therapy Professionals in Tarpon Springs, FL

Theresa Margaris

 Tarpon Springs, FL --- Hold-Thyssen, Inc. has completed a multi-year lease agreement with seasoned therapy professionals expanding from Pasco to Pinellas County at 536 E  Tarpon Ave.  in Tarpon Springs.

 The new tenant in suite 2 with 1,375 square feet of office space at Tarpon Oaks Professional Center is My Tribe Counseling and Coaching Services LLC providing individual, couple and group counseling services.



Paul Ferraro

Transaction Specialist Theresa Margaris at Hold-Thyssen’s West Florida office brokered the transaction representing the landlord Paul Ferraro. 

 

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. 

 

 

For more information, please contact

 

Richard J. Fisher, Vice President/Investor Services, Hold-Thyssen, Inc.

 727-238-3876 

rfisher@HoldThyssen.com

 

Robert P. Hold, Principal, Hold-Thyssen, Inc.

407-691-0505,

 bhold@HoldThyssen.com

 

Larry Vershel or Beth Payan, Larry Vershel Communications Inc.

 407-461-3781

 Lvershelco@aol.com

 

Monday, December 30, 2024

JLL secures $358 million acquisition financing for industrial portfolio spanning four states

Nicole Barba
 

MIAMI, FL – JLL's Capital Markets group has arranged $357.8 million in acquisition financing for MDH F3 Arctic Portfolio, a 5.5-million-square-foot, 100% leased industrial portfolio located in South Carolina, Pennsylvania, Illinois and Texas.

Chris Drew
 
JLL represented the borrower, MDH Partners, to secure the loan through Wells Fargo Bank, N.A. and Capital One, N.A. via a balance sheet execution.

    

The portfolio includes eight assets across 12 state-of-the-art buildings, ranging from 140,300 to 1,034,200 square feet, with an average clear height of 34 feet.

 

The properties feature ample dock doors, trailer parking and car parking to accommodate high-volume distribution operations. 


Tenants are all strongly credit-rated, national household brands, and represent a diverse mix of industries including automotive, e-commerce, food and beverage and home goods.


Michael Cosby

The portfolio spans key metros including Houston, Texas; Austin, Texas; Chicago, Illinois; Greenville, South Carolina; and Middletown, Pennsylvania. These locations offer superior connectivity to major transportation networks and dense population centers, enhancing the portfolio's strategic value for tenants engaged in regional and national distribution.

 

The JLL Debt Advisory team was led by Senior Managing Directors Chris Drew, Michael Cosby and Ryan Ade, Managing Director Brian Gaswirth, Director Jimmy Calvo and Analyst Nicole Barba. Nathan Balmes and Michael Loffredo led the debt execution on MDH’s team. 

Ryan Ade,


"This financing represents a significant milestone for MDH Partners as they continue to expand their industrial footprint across high-growth markets," said Drew. 


"The institutional sponsorship, strong tenant roster, strategic locations and quality of the assets made this an attractive opportunity for lenders in today’s capital markets environment."

 

“The Arctic Portfolio was compiled through five individual acquisitions between August and October, collectively marking the beginning of the investment of MDH Fund 3,” said Nathan Balmes of MDH Partners.


Brian Gaswirth
“JLL has once again facilitated a seamless execution aligning our debt strategy with our portfolio investment strategy, and we are excited to expand our relationship with Wells Fargo and Capital One. We expect to remain active in acquiring and developing in 2025, targeting high-quality industrial assets in dynamic markets.”   

   

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 sales and advisory, debt advisory, equity advisory or a recapitalization.


 

Nathan Balmes
 
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 MDH Partners


MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. 


Jimmy Calvo

Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $7 billion (90 million square feet) of acquisitions, developments, and asset management as an advisor and investor. 

 

 About JLL


For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. 


Michael Loffredo
A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise.

Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 


Contact:

 

 Grace Lewis, JLL PR

Phone: +1 903 520 3478  

Email: grace.lewis@jll.com

 

www.mdhpartners.com.

jll.com

 

Sunday, December 29, 2024

JLL’s Seattle office expands with new Senior Director Casey Zejdlik

Casey Zejdlik

  SEATTLE, WA –  JLL Capital Markets announced Casey Zejdlik has joined the firm as a Senior Director in its Investment Sales and Advisory private capital multi-housing team.

 With over 19 years of experience, Zejdlik has completed more than 290 transactions, including nearly 50 1031 exchanges.

 

"We're excited to welcome Casey to our team," said Corey Marx, Senior Managing Director. "His depth of knowledge and experience in multi-family real estate investment will be an asset to our private capital clients."


Previously, Zejdlik co-founded and served as an advisor at Pilot Ventures and has held senior roles at Northmarq and CPX. Prior to his real estate career, he spent six years as a Nuclear Engineer in the Navy. Zejdlik holds a Bachelor’s degree in Nuclear Engineering Technology and is a recipient of two Navy Achievement Medals.

 

Corey Marx



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

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

jll.com. 

 

 

 

Saturday, December 28, 2024

George Oliver and Ascentris purchase 7272 E. Indian School for $42 million with major renovations planned to Expand Old Town Scottsdale, AZ Office Presence

Virginia (Gigi) Martin

 SCOTTSDALE, AZ – Phoenix-based developer George Oliver, in partnership with Ascentris, has announced the $42.25 million acquisition of 7272 E. Indian School Rd., a 165,220-square-foot office building in Old Town Scottsdale, Arizona.

 The purchase, which follows the partnership’s mid-2024 acquisition of 4141 and 4167 N. Scottsdale Rd., expands the companies’ Old Town Scottsdale footprint to over 350,000 square feet. The properties will be redeveloped into a new trademark George Oliver experiential office campus.

Curt Kremer
JLL’s Ben Geelan, Will Mast, Jack Miller and Gigi Martin represented the building seller. The design and architecture for the new Old Town Scottsdale assemblage is being led by George Oliver Design.

 The Old Town assemblage occupies approximately six acres at the prominent corner of Scottsdale and Indian School Roads. Design concepts for the campus are underway, with renovations slated to begin in 2025.

Final spaces will align with similar George Oliver projects such as Arbor in downtown Tempe, CASA in Phoenix’s Uptown neighborhood, The Alexander and The Johnathan in downtown Chandler, and Bond, which is nearing completion in the Camelback Corridor.

 “Delivering a best-in-class office project in Old Town Scottsdale has been a bucket list item for George Oliver since our inception,” said George Oliver Founder and Managing Partner Curt Kremer. “The purchase of 7272 E. Indian School allows us to execute that goal with a more robust amenity offering inside a campus-style experiential office portfolio.”

Jeff Higgins


 “Ascentris is excited about the acquisition of the 7272 asset, which represents an accretive and complimentary addition to this partnership’s recent acquisition of 4141 and 4167 Scottsdale,” said Ascentris Managing Director Jeff Higgins. “The transformative repositioning of these assets will create a truly unique offering in Old Town Scottsdale.”

 "The Old Town buildings are surrounded by premier restaurants, luxury and boutique retailers, nightlife venues and a robust art scene, alongside hospitality and residential developments. 

"The area offers convenient access through nearby thoroughfares and is situated near a large and diverse workforce, making it an ideal location for businesses seeking vibrant surroundings and a dynamic community."

 

Ben Geelan
Based in Arizona, George Oliver is known for its modern aesthetic design and placemaking catering to the unique needs of a project’s submarket.

In Old Town, George Oliver will cater to a vibrant workforce with award-winning, hospitality-centric amenities such as extensive conference spaces, individual teleconferencing and podcasting areas, on-site concierge services, state-of-the-art fitness centers, yoga facilities, luxury locker rooms, dining and bar areas, mother’s rooms, libraries, recreation spaces, game areas, dog patios and on-site EV chargers.


 About George Oliver

George Oliver LLC is a locally based commercial real estate company that operates on the cutting edge of office and industrial workspace environments.

Will Mast
George Oliver believes your workspace should enhance productivity, improve employee retention, and help your business better compete in an increasingly volatile marketplace. 

Healthy, happy and productive workspaces are giving businesses the upper hand, and unrivaled design, amenities and tenant experiences are front-and-center in every one of our buildings.

Experience the difference yourself at any of our award-winning buildings in Phoenix, Chandler, Scottsdale, Austin, and Denver.

 About Ascentris

Ascentris is a real estate private equity firm based in Denver, Colorado that manages a series of fully discretionary institutional vehicles targeting both value-add and core investments across the major property types and geographic regions within the United States. 

 

CONTACT:

Stacey Hershauer

480.600.0195

stacey@focusaz.com

www.georgeoliver.com

Ascentris.com