JLL Capital Markets brokers 191 million loan for Fenton, a premier mixed-use urban village project in Cary, NC

  

Kelsey Bawcombe

ATLANTA, GA –  JLL Capital Markets has secured a $191 million senior mortgage for Fenton, a premier mixed-use development located in Cary, North Carolina.

 

JLL represented the borrowers, a partnership consisting of Hines, Affinius Capital and Columbia Development, in securing the loan from New York Life Real Estate Investors.

 

JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Directors Chip Sykes and Vice President Kelsey Bawcombe.

Chip Sykes

"This financing underscores Fenton's standing as a transformative development within Cary and the broader Triangle area," said Sykes. "The commitment reflects confidence in the project's best in class mixed-use place making and the development teams unmatched execution abilities."

 

 Fenton is strategically located near the intersection of Cary Towne Blvd. and I-40, which offers exceptional connectivity to the wider Raleigh-Durham-Chapel Hill area. This vibrant mixed-use development benefits from proximity to prominent employment hubs such as the Research Triangle Park and is just 15 minutes west of Downtown Raleigh.

Downtown Fenton, Cary, NC

The Raleigh-Durham Triangle area, formally known as the Research Triangle Region, is a vibrant and rapidly growing metropolitan hub home to over two million residents.

 

Fenton is an experiential mixed-use urban village, featuring over 246,000 square feet of retail space housing 42 diverse tenants, 183,000 square feet of modern office space and 357 multifamily units delivered in 2022-2023. The commercial component is complemented by The Allison at Fenton, a premier residential community situated atop the dynamic urban streetscape of Fenton.

 

Contact:

 

 Gréta Kieras

 Senior Associate

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 

 

JLL Capital Markets represented DLC Management Corp. in arranging $44 million financing for Ohio-based retail centers Taylor Square and Tuttle Crossing

Claudia Steeb

  NEW YORK,  NY –  JLL Capital Markets has secured a $30 million and $13.65 million financing for Taylor Square in Reynoldsburg and Tuttle Crossing in Dublin, Ohio, respectively.

 

Scott Aiese 

JLL represented the borrower, DLC Management Corp, in arranging the five-year, fixed-rate loan through TriState Capital Bank for Taylor Square and the five-year loan through Dollar Bank for Tuttle Crossing.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Directors Scott Aiese and Claudia Steeb and Director Alex Staikos.

 

"These financings highlight the continued strength of well-positioned retail assets in growing markets like Columbus," said Aiese. "Both Taylor Square and Tuttle Crossing feature strong anchor tenants, diverse retail mixes and locations in high-traffic corridors, making them attractive investment opportunities in the current retail landscape."

 

Alex Staikos

Taylor Square is a 378,102-square-foot shopping center anchored by the nation’s largest big-box retail chain, located at 2793 Taylor Rd. in Reynoldsburg. Built in 2000 and renovated as recently as 2023, the property sits on 48.3 acres with prime visibility from I-70, which sees 97,000 vehicles per day.

The center boasts 99.7% occupancy across its 34 tenants, featuring a diverse mix of national retailers including Marshalls, JoAnn, Dollar Tree and Bath & Body Works.

                                                                                      

 

Tuttle Crossing is a 226,718-square-foot shadow grocery-anchored center located at 5800 Britton Pkwy. in Dublin. Built in 1996 and renovated in 2022, the property sits on 18.66 acres with prime visibility from I-270, which sees 117,360 vehicles per day.

Tuttle Crossing shopping center, Dublin, OH

 

 

 

Contact:

 

 Gréta Kieras

 Senior Associate

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 

 

Bryant Square retail center in Oklahoma City metropolitan area trades hands

Erin Lazarus.

DALLAS, TX  –  JLL Capital Markets has secured the sale of Bryant Square, a 272,135-square-foot retail center in Edmond, Oklahoma, part of the Oklahoma City metropolitan area. The price was not disclosed.

 JLL represented the seller, TriGate Capital, in arranging the buyer, Mazaheri Properties. Phillip Mazaheri with Price Edwards & Company represented the buyer.

 

Bryant Square, a 272,135-square-foot retail center
in Edmond, OK, part of the Oklahoma City metropolitan area. 

Bryant Square, located at 308 S Bryant Ave., enjoys a strategic position in the affluent Oklahoma City suburb of Edmond. The center's prime location provides exceptional visibility and access, situated just west of I-35, the largest North-South thoroughfare in Oklahoma City.

 

The greater Oklahoma City area continues to see strong population growth, particularly in its suburban areas. Edmond itself has experienced significant expansion, with the five-mile radius around Bryant Square showing an average household income of $138,000 and consumer spending power of $6.75 billion.

 

 Chris Gerard

Bryant Square, originally constructed in 1978 and renovated in 2018, boasts a robust 96% occupancy rate with a diverse tenant mix including Ross Dress for Less, Burlington Coat Factory and Old Navy.

 

 The retail center offers significant value with an average tenant tenure of 8.8 years and a weighted average lease term of 4.6 years, ensuring a stable and attractive investment.

 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Directors Chris Gerard and Barry Brown and Director Erin Lazarus.

 

"Bryant Square offered investors a high-quality retail asset in one of Oklahoma City's fastest-growing submarkets," said Gerard. "With its strategic location in affluent Edmond and potential for increased income, this transaction demonstrates continued investor appetite for well-positioned retail properties in high-growth suburban markets."

 

Barry Brown

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. 

 

JLL Capital Markets arranges sale of The District by Windsor in Denver, CO

The District by Windsor, a 276-unit multi-housing community
 in Denver, CO

  

DENVER, CO –  JLL Capital Markets has arranged the sale of The District by Windsor, a 276-unit multi-housing community in Denver, Colorado.

 

JLL represented the seller, GID, in facilitating the buyer, Mesirow Financial. The price was not disclosed.

Jordan Robbins

The District by Windsor, located at 6300 E Hampden Ave., enjoys a prime position with immediate access to I-25 and close proximity to I-225, offering residents seamless connectivity throughout the Denver metro area.

 

The community’s strategic location near Belleview Station and RTD Southmoor Station provides convenient public transit options, while its proximity to shopping centers and major employment hubs, including the Southeast Business Corridor.

 

Denver is a thriving metro area known for its strong economy, highly educated workforce and exceptional quality of life. The region boasts robust job growth that attracts young professionals with an average of 89 new residents moving to the metro area daily.

 

Wick Kirby

Within a three-mile radius of The District by Windsor, the average household income is $137,197 and the average home value is $826,899, reflecting the area's affluence and desirability.

The District by Windsor, constructed in 2007, is a mid-rise apartment community situated on a spacious 7-acre plot. This well-maintained property offers 247,811 square feet of residential space, complemented by 16,622 square feet of commercial space creating a vibrant mixed-use environment.

 

 With a high occupancy rate of 95%, The District caters to a diverse range of residents seeking modern comfortable living spaces. The community boasts an impressive array of amenities including a year-round spa and hot tub, a resort-style swimming pool, a state-of-the-art fitness center and EV charging stations, reflecting its commitment to providing a luxurious and sustainable lifestyle for its residents.

Alasdair Cripps

"We are pleased to partner with JLL Capital Markets and GID in the purchase of The District by Windsor,” stated Alasdair Cripps, CEO of Mesirow Institutional Real Estate Direct Investments.

 “Going forward, our vision for the property includes additional capital for modern amenities and enhancements to interior units and the exterior appearance. 

"With these changes, we will be rebranding the property as The District at Hampden South and look forward to serving the community.” 

Alex Possick 

JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Senior Managing Director Jordan Robbins, Managing Director Wick Kirby, Director Alex Possick and Associate Seth Gallman.

 

"The sale of The District by Windsor demonstrates the continued investor appetite for well-located, value-add multi-housing assets in the Denver metro area," said Robbins.

 "The property's strategic location near major employment centers and its potential for unit interior upgrades made it an attractive investment opportunity in today's market."

 

 

Seth Gallman

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

Contact:

 

Gréta Kieras

 Senior Associate

 Public Relations

Phone: +1 949 930 8498  

Email: greta.kieras@jll.com

 

JLL raises over $1 billion of construction financing in Northern Virginia for data center developer, The BlackChamber Group

Jamie Leachman

WASHINGTON, DC – JLL’s Capital Markets group has arranged over $1.2 billion in construction financing throughout 2024 on behalf of The BlackChamber Group (“BlackChamber”). The financings will facilitate the development of four hyperscale powered shell campuses located across Northern Virginia collectively totalling over 740 megawatts of capacity.  

 JLL worked on behalf of BlackChamber to arrange the financings as part of BlackChamber’s Northern Virginia development portfolio, which includes eight campuses with the prospective capacity to yield nearly 1.5 GW of gross power capacity across more than six million square feet.

 Drake Greer

BlackChamber was advised by JLL’s Capital Markets Debt Advisory team led by Jamie Leachman, Senior Managing Director and Co-Head of the Washington, D.C. office and Drake Greer, Senior Director and member of JLL’s National Data Center Capital Markets team.

 

“Against a dynamic and challenging market backdrop, JLL leveraged their relationships, creativity and expertise to drive seamless and unrelenting execution with a variety of different lenders, ultimately delivering value-accretive and strategically beneficial financing solutions,” BlackChamber Managing Partner Conley Patton said.

Conley Patton

Northern Virginia is the largest data center market in the world, comprising more than 4.6 GWs of power capacity as of 1H 2024. In 2024, Northern Virginia saw more than 1.3 GWs of absorption, ending the year with a vacancy rate of just 0.4%. Currently, in Northern Virginia there is more than 5.8 GWs of planned data center development.   

 

“We are seeing incredible demand for data centers with the consistent appetite from Cloud, AI and Enterprise tenants and this in turn has created a larger focus from various capital sources,” Leachman said.

 

“What was once a small alternative segment of the commercial real estate industry is now a large segment of equity and debt deployments. BlackChamber’s recent construction loan closings are evidence of the diverse capital chasing data centers.

 

"Our recent closings include capital from bank balance sheets, both commercial real estate and infrastructure verticals, but also private credit vehicles funded with insurance company capital,” Greer added.

 

JLL’s dedicated Capital Markets group is a full-service global provider of capital solutions for real estate and infrastructure investors and occupiers. The group’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 National Data Center Capital Markets team is run by Senior Managing Director Carl Beardsley.

 

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

 

 

 

Contact:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

JLL expands Sustainability services with dedicated energy practice led by Josephine Tucker

Josephine Tucker

 CHICAGO, IL – JLL announced it is boosting its existing Sustainability services by forming the Energy Advisory and Sustainability practice. Led by clean energy expert

Josephine Tucker, the team works across JLL’s business lines and industries to serve real estate investors and commercial and public sector clients.

 

 The next few years are essential for building owners and occupiers to leverage the net-zero transition. According to JLL, successfully decarbonizing buildings depends on three main elements: energy efficiency, electrification and clean energy sources – all areas of specialty for the Energy Advisory and Sustainability practice.

 

 Sanjay Rishi

“In response to accelerating demand, we have established a dedicated practice for energy advisory services to expand our sustainability offerings,” said Sanjay Rishi, CEO, Work Dynamics, Americas. “Josephine is a recognized authority in the clean energy field, and I’m excited that more of our clients can now benefit from her leadership and the expertise of her team.”

 

As Americas Head of Energy Advisory and Sustainability, Tucker reports to Rishi. She joined JLL in 2022 to lead JLL’s Clean Energy and Infrastructure Advisory services to address aging infrastructure and provide renewable transaction services to clients.

 

Prior to joining JLL, she amassed more than 15 years of experience in energy, real estate and transportation, with a focus on strategy, finance and economic analyses.

 

“Market demand for clean energy and infrastructure is at an all-time high,” Tucker said. “More and more companies are seeking to reduce their carbon footprint while, at the same time, we see this rapid acceleration of power demand from data centers, reshoring of manufacturing and the electrification of everything from buildings to cars to infrastructure. 

"This fundamentally changes how businesses own, operate and lease spaces. As a leading real estate management and consulting company, JLL can play a huge role in servicing energy demands and reducing emissions. I’m thrilled to lead that effort.”

 

For more information, visit JLL’s Occupier Services page.

 

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

 

 

 

Contact:

 

Kimberly Steele
Director, Global Occupier Public Relations
Work Dynamics and Industries, JLL
T +1 713 852 3420
M +1 832 244 9994
JLL.com