Dealmaker: JLL Arranges More than $250M

(Abberly NoDa Vista, Charlotte, N.C.)

JLL Capital Markets announced multiple transactions totaling at least $246.5 million for multifamily, office and hospitality properties across the U.S.

JLL Capital Markets closed $91 million acquisition and $60.3 million financing for Abberly NoDa Vista (formerly known as Live at NoDa), a 261-unit, five-story, wrap-style apartment within the NoDa neighborhood of Charlotte, N.C.

JLL represented the buyer, HHHunt, and secured the floating-rate, bridge loan financing on behalf of the new owner. There were no seller representations, and JLL was the sole intermediary in this transaction.

Completed in 2019, Abberly NoDa Vista offers studio, one-, two- and three-bedroom units with average unit size of 892 square feet. Community amenities include an elevator, a barbecue grill and picnic area, a community gas grill, EV charging stations, private balconies and patios, a resort-style pool, sun deck and gym.

Situated at 2120 N. Brevard St., the property is set across the street from the 25th Street Lynx Blue Line station, allowing residents access to the University, Uptown,and South End. The property also benefits from its location on N. Brevard St., a main artery in the NoDa neighborhood. In addition to premier connectivity, Abberly NoDa Vista is within proximity to numerous lifestyle amenities, entertainment centers and top jobs in the city.

The JLL Capital Markets Investment Sales team that represented the buyer was led by Matthew Lawton, John Gavigan, John Mikels and Nick Brown and the Debt Advisory team that arranged the financing was led by Travis Anderson and Warren Johnson.

JLL Capital Markets also arranged $57.5 million in financing of EVO, a 220-unit, newly built, luxury multi-housing property in downtown Englewood, N.J.

JLL represented the sponsorship, a joint venture of Claremont Development, Cypress Equity Investments and Battery Global Advisors, to secure the eight-year, fixed-rate loan through The Guardian Life Insurance Group of America.

EVO features studio, one- and two-bedroom residences with ceilings reaching nine feet, chef-inspired kitchens with stone countertops, tiled backsplashes, stainless-steel appliances, plank flooring, oversized windows, walk-in closets, washers and dryers and private outdoor space in select homes. Community amenities include a resident lounge, co-working lounge, fitness center, yoga studio, outdoor swimming pool, outdoor bar and barbecue lounge seating, club room, fire pits and a pet spa.

The community is at 40 Bennett Rd. within the inner ring of the New York Metropolitan area, offering highway access to New York City, as well as New Jersey’s most traveled commuter thoroughfares. Situated on the westbound side of Route 4, EVO provides direct connections to the George Washington Bridge, I-80, Route 17 and the Garden State Parkway in just five minutes. The entrance to the New Jersey Turnpike (I-95) is located just over one mile from the property, and the Palisades Interstate Parkway and Interstate 80 are within five minutes of the property. In addition to highway accessibility, EVO is also set in a walkable location in downtown Englewood’s restaurants and parks.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Michael Klein and Jon Mikula, Associate Gerard Quinn and Analyst Benjamin Morgenthal.

JLL Capital Markets announced also arranged sale and financing of the Sabre Headquarters building, a 265,942-square-foot, five-story office building in Southlake, Texas.

JLL represented the seller, a joint venture of Cawley Partners, Staubach Capital and PCCP LLC, and procured the buyer, BDP Holdings. Additionally, JLL worked on behalf of the buyer to secure the 10-year, acquisition financing through Wells Fargo & Co.

Sabre, which is a leading software and technology company in the travel industry, has occupied the property as their headquarters since 2002. The LEED-certified building was renovated in 2021 and offers a full-service cafeteria, outdoor courtyard, fitness center and structured/surface parking for more than 1,100 vehicles.

The Sabre Headquarters is located at 3150 Sabre Dr. in the Westlake/Grapevine office submarket of Dallas. This submarket boasts affluent demographics with an average household income of $270,000, an educated workforce where more than 67% of residents hold a bachelor’s degree or higher and proximity to Dallas Fort Worth International Airport. Rents in the Westlake/Grapevine office market continue to climb, seeing an increase of more than 14% since 2017.

JLL’s Hotels & Hospitality Group announced arranged $40 million in construction financing for Graduate Auburn, a 177-key hotel in Auburn, Ala.

JLL worked on behalf of the sponsor, Adventurous Journeys Capital Partners, in securing the five-year, floating-rate loan with Southern States Bank.

Upon completion, the hotel will offer a mix of traditional guestrooms and suites, 10,000 square feet of flexible meeting and event space and two food and beverage outlets, including a rooftop lounge with an outdoor terrace featuring panoramic views of the Auburn campus. Graduate Auburn, designed by Hartshorne Plunkard Architects and AJ Capitals’ in-house interior design team, will reference the storied history of Auburn University and provide a unique aesthetic that will appeal to university visitors and locals alike. Graduate Auburn will join a collection of 35 other Graduate Hotels and will be the brand’s seventh location in the SEC conference.

Graduate Auburn will be located on Magnolia Avenue across from the 1,800-acre Auburn University Campus and steps away from College Street and the historic Toomer’s Drugs.

The JLL Hotels & Hospitality team representing the sponsor was led by Executive Vice President Jeff Bucaro and Senior Managing Director Danny Kaufman.

JLL Capital Markets also closed sale and acquisition financing of Veranda La Mesa, a 406-unit, garden-style apartment community located in La Mesa, Calif.

JLL represented the seller. JLL also worked on behalf of the new owner to secure the seven-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender.

The two- and three-story, 27-building Veranda La Mesa features studio, one- and two-bedroom units with an average size of 733 square feet. Select units feature hardwood flooring, energy efficient appliances, quartz countertops, spacious closets and private balconies or patios. Community amenities include four swimming pools, multiple clubhouses, six spas/hot tubs, a game room, a co-working lounge, a fitness center and a tennis court.

Situated at 5353-5511 Baltimore Dr., the property is nine miles east of downtown San Diego. The community is located at a crossroads of three major highways, connecting residents to the largest employment centers in San Diego with 620,000 jobs and 48.5 million square feet of office space within a 10-mile radius. Veranda La Mesa is also just four miles from San Diego State University and is proximate to Mission Trails Regional Park and the Lake Murray Recreation Area.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Director Darcy Miramontes and Senior Director Kip Malo. Additionally, Senior Managing Director Danny Kaufman, Senior Director Jamie Kline, Senior Director Zane Sweet and Associates Mike Halbach and Charlie Vorsheck led the JLL Capital Markets Debt Advisory team that represented the borrower.

JLL Capital Markets announced also arranged a $39.7 million refinancing for Bridgepoint Plaza I and II, a two-building office complex totaling 178,061 square feet in Austin, Texas.

JLL worked on behalf of the sponsor, Spire Real Estate Partners LLC, an affiliate of Spire Realty Group LP, to secure the two-year loan through Argentic. The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Wally Reid and Director Jayme Nelson.

Bridgepoint Plaza I and II is located on an 8.78-acre site at 5918 Courtyard Dr. just northwest of Loop 360 and West Courtyard Rd. The property is positioned on the bluffs above Pennybacker Bridge providing views of Lake Austin and proximity residential neighborhoods in West Austin, including the under construction Four Seasons Lake Austin Private Residences. Additionally, the property is surrounded by an amenity base, including the Arboretum and the Domain.

Overall, Bridgepoint Plaza I and II is 78% leased to a diverse tenant roster. The buildings are highly amenitized with a fitness center, rooftop basketball court and pickleball court, new outdoor seating area, a conference center and structure parking for 580 vehicles.

JLL Capital Markets also arranged $11.8 million in construction financing for 6116 Harrison and $6.5 million in permanent refinancing for the Madison in West New York, Hudson County, N.J.

JLL represented a private developer to secure a three-year, floating-rate construction loan through Cathay Bank for the financing of 6116 Harrison. Additionally, JLL represented the borrower to secure a 10-year, fixed-rate loan through TD Bank for the refinancing of The Madison.

Upon completion, 6116 Harrison will feature 48 units, consisting of one- and two-bedroom units with an average unit size of 847 square feet. Completed in December 2021, The Madison consists of one, four-story building with 26 studio, one- and three-bedroom units with an average unit size of 793 square feet. Both communities offer luxury units with hardwood-style flooring, quartz countertops, stainless-steel kitchen appliances and in-unit washers and dryers and provide community amenities, such as fitness centers and garage parking.

The properties are located within a half-mile of each other at 6116 Harrison Place and 529 61st St. The communities are one mile from the Bergenline Avenue NJ Transit Station and all the local shops, bars, and eateries on the “Miracle Mile.”

The JLL Capital Markets Debt Advisory team representing the borrower was led by Matthew Pizzolato, Max Custer, Gerard Quinn and Salvatore Buzzerio.