JLL welcomes two industry veterans to New York Capital Markets 

NEW YORK, N.Y., July 29, 2021 — JLL Capital Markets announced today that it has hired 12-year industry veteran Michael Zaremski and 10-year industry veteran Michael Shmuely as Managing Directors with the firm’s New York Capital Markets team. Zaremski and Shmuely will focus on multi-housing debt advisory, working alongside Michael Gigliotti and Christopher Peck, Senior Managing Directors and Co-heads of the New York Capital Markets team.

Zaremski and Shmuely, both former Senior Directors with a commercial services firm, bring a deep understanding of bridge financing, GSE financing, debt brokerage and mortgage originations across all property types with a specialized focus on multifamily. In addition to their industry leading expertise in agency lending, they have experience creating financing solutions for clients by utilizing third-party capital sources, including life insurance companies, CMBS, banks and debt funds. 

Zaremski graduated with a Bachelor of Science from Indiana University and earned his certificate in Real Estate Finance and Investment from New York University Schack Institute of Real Estate.

Shmuely graduated with a Bachelor of Arts in economics from the University of Michigan. He has also served as a board member for Friends of Israel Disabled Veterans and UJA’s Real Estate Division as chair on the Friends of Israel Disabled Veterans Youth Leadership Group and as vice chair for the American Society for Yad Vashem Young Leadership. 

“We are pleased to welcome these two industry leaders to the JLL team,” Gigliotti said. “Their wide-ranging knowledge and expertise will provide a powerful asset to our clients. Most important, they are an exceptional cultural fit for JLL, and we look forward to working with them to expand our market share in the multi-housing debt space.”

“I am excited to bring my experience to the JLL platform,” Zaremski added. “The company’s full suite of services enables it to structure comprehensive solutions for complex projects.” 

“We hope to expand on JLL’s collaborative and client-centric approach to capital advisory,” Shmuely said. “Increasing the team’s multi-housing deal flow elevates the platform and our ability to navigate, develop and execute post-pandemic market strategies.”

 

JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Alexan Earl, a 333-unit, trophy-quality, multi-housing community in the suburban Washington, D.C. community of Arlington, Virginia.

 

JLL marketed the property on behalf of the seller, Trammell Crow Residential and a leading global real estate investment advisor. A private company acquired the property. Additionally, working on behalf of the new owner, JLL secured the five-year, floating-rate loan with Mesa West Capital, LLC.

The Alexan Earl is a brand new, best-in-class community featuring studio, one- and two-bedroom residential units averaging 827 square feet across two buildings and 3,396 square feet of retail. In-home features include stylish kitchens, quartz countertops with full-height tile backsplashes, decorative kitchen lighting with dimmable island pendants and undercabinet lighting, movable and fixed islands, undermount sink with stylish pull-down faucet, hard-wood inspired laminate tile flooring and custom closets. Additionally, units have stainless steel appliances with hooded ranges, full-size washers and dryers and a tech-rich home with USB outlets and managed WiFi system. Building amenities include a heated rooftop pool with an indoor/outdoor bar; lush ground-level courtyard; two state-of-the-art fitness centers; social clubroom with bar, tv, billiards and a music room; complimentary WiFi in all shared spaces, 24/7 concierge services and co-working space with private offices and collaboration booths.

Located just off Wilson Boulevard at 1122 North Hudson St., the Alexan Earl is a short walk to the Clarendon Metro Station (Silver and Orange Lines – with less than a 10-minute connection to the D.C. CBD and all of Northern Virginia) in Northern Virginia’s premier live-work-play-learn neighborhood. The property, with a 96 Walk Score®, is surrounded by 28 million square feet of office and 3.3 million square feet of retail within a two-mile radius, bookended by the Rosslyn office employment hub, the nightlife, popular bars and restaurants in Clarendon, as well as the revitalized Market Commons and the resurging Ballston submarket redevelopments. The Rosslyn-Ballston (“R-B”) Corridor is an ideal dual-commuter or roommate location, providing direct metro access (Orange/Silver Lines) to downtown DC CBD, R-B Corridor, Reston and Tysons Corner within a 20-minute commute.

The JLL Capital Markets Investment Advisory team representing the seller included Senior Managing Directors Walter Coker and Brian Crivella and Directors Robert Jenkins and Bill Gribbin.

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Directors Michael Cosby and Jimmy Conley and Senior Managing Directors Jamie Leachman and Andy Scott.

“The sale of Alexan Earl represented a unique opportunity for our buyer to get to an asset located in the coveted Rosslyn Ballston Corridor of Arlington,” Coker said. “The sale and debt placement show a true team effort by both JLL debt and sales professionals to get this asset over the goal line, and we are very grateful to the seller and buyer teams for trusting us with such a high profile sales and debt assignment.”

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

JLL Capital Markets announced today that it has arranged $43 million in structured construction financing for the development of Winslow Crane Apartments, a 203-unit, Class A, garden-style multi-housing community in the Denver-area community of Englewood, Colorado.

JLL represented the developer, Saunders Commercial Development Company, to secure a $34.40 million senior construction loan through a local bank. Additionally, JLL placed $8.55 million in preferred equity through an insurance company.  

Winslow Crane Apartments will feature unparalleled amenities and finishes. Once completed in 2022, the three-story property will consist of one- and two-bedroom units ranging from 546 to 1,573 square feet along with 92 garage parking spaces and 219 surface parking spaces. 

Located at 3002 South Huron St., the community offers easy access to a wide variety of nearby amenities, including more than 490,000 square feet of local and national retailers, some of the area’s top restaurants, popular entertainment venues, and outdoor areas such as the Gothic Theatre and the South Platte River Trail. The Englewood submarket offers residents an affordable, value-oriented alternative to downtown Denver, and the area has consistently ranked among the top-performing submarkets throughout the metro area. Winslow Crane Apartments is just north of the convergence of US-85 and Hampden Avenue, allowing for phenomenal visibility and access to both the broader southern metro area and downtown Denver. The property is also just a few minutes’ walk from the Englewood RTD Light Rail Station, providing residents unrivaled optionality for a commute to the greater Denver area. 

The JLL Capital Markets debt and equity team that represented the developer was led by Managing Director Leon McBroom and Senior Managing Director Eric Tupler.

“We had numerous local, regional and national banks show interest on the bank senior,” McBroom said. “We also had a deep pool of groups interested in the preferred equity. The Denver multi-housing market fundamentals are on fire, and lenders are very active lending on multi-housing construction opportunities.” 

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

JLL Capital Markets announced that it has assisted in arranging equity and construction financing for the development of Preserve at Ridgeville Apartments, a 240-unit, mid-rise, garden-style multi-housing community in the Charleston-area community of Ridgeville, South Carolina.

JLL represented the development team of Piedmont Private Equity and Ecstatic Properties, which is lead by John Cattano, in arranging the equity partnership with American South Real Estate Fund; local Charleston equity with Material Capital Partners and Altriarch Capital; and the construction loan with Churchill Stateside Group, LLC.

Once completed, the three-story property will feature top-of-the-market unit amenities and best-in-class community amenities, including a resort-style pool, state-of-the-art health club with virtual classes by Fitness on Demand, a Bark Park with pet washing area and a putting green.

Located at 1050 Old Gilliard Rd., it is the closest multi-housing property to the Santee Cooper industrial park Camp Hall featuring the Volvo Car US plant and is poised to capitalize on the rapid job growth in the submarket. 

The JLL Capital Markets debt and equity team that represented the developer was led by Director John Gavigan.

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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

JLL Capital Markets closed the sale of the 274-unit mid-rise Vim + Vigor

CHICAGO, July 28, 2021 – JLL Capital Markets announced today that it has closed the $53 million sale of Vim + Vigor, a new, 274-unit, mid-rise multi-housing community in the Brewery District of Milwaukee, Wisconsin. 

JLL marketed the property on behalf of the seller, Milhaus Development and The Davis Companies. Weidner Apartment Homes acquired the property. 

Vim + Vigor was completed in 2019 and was over 90 percent leased at closing. The property comprises two buildings with apartment studio, one-, two- and three-bedroom units ranging from 376 to 1,340 square feet, as well as 7,050 square feet of ground-floor retail, a 237-space parking garage with additional surface parking and an expansive building amenities package. The apartments feature a range of floor plans, 9-to-100-foot ceiling heights, stylish kitchen designs with stainless steel appliances and quartz countertops, high-end bathroom finishes, wood- and concrete-style flooring, abundant in-unit storage spaces, patios and balconies and full-sized in-unit washers and dryers. The community offers a courtyard with grills and fire pit, conference rooms, home brewing studio, and 24/7 fitness center with yoga and Pilates studio. The buildings are enhanced with key-fobbed access and new technology systems throughout. 

Located at 1303 North 10th St. and 926 West Juneau Ave., Vim + Vigor is in Milwaukee’s thriving Brewery District, the site of the former Pabst Brewing Company. Situated between I-43 and Fiserv Forum and the Deer District, the now vibrant mixed-use neighborhood embraces a celebrated past, sustainability and modern urbanism to create an authentic live-work-play neighborhood radiating old world charm. Residents enjoy a fully walkable neighborhood, with easy access to surrounding universities, sporting/concert venues, employers, major highways and some of the best local shopping, dining and entertainment in Milwaukee. Everything in Milwaukee’s sought-after Whitestown neighborhood is within a 20-minute walk of the property.

The JLL Capital Markets investment sales advisory team that represented the seller was led by Senior Director Wick Kirby and Director Amanda Friant, along with Senior Managing Director Jaime Fink.

 

JLL Capital Markets announced today that it closed the sale of The Preserve at Clearwater, an assisted living and memory care property located in Clearwater, Florida. 

JLL represented the seller, a joint venture between Solera Senior Living and Elkco Properties, to complete the sale to an experienced institutional investor. The buyer plans to retain Solera as property manager post-closing. 

The Preserve at Clearwater is a 2012-vintage, 82-unit property that sits on a scenic 11.4-acre parcel of land. The building is LEED Silver-Certified and is highly amenitized, including a private dining lounge, bistro lounge, beauty and barber shop, library, business center, auditorium, arts and cooking studio and fitness and rehabilitation centers. Outdoor amenities include a pond viewing area with a fire pit, walking paths and a heated swimming pool with additional therapeutic whirlpool features. 

The memory care and assisted living community features include three chef-prepared meals a day, concierge services, housekeeping, laundry service, scheduled transportation and 24-hour assistance from staff. 

“Our team members at The Preserve have worked hard to provide a top-tier community and experience for the residents of Clearwater and the surrounding markets,” said Stephen F. Elken, President of Elkco Properties.

Adam Kaplan, CEO of Solera, stated, “Solera is excited to continue operating the building. We also appreciate our relationship with JLL. They ran an excellent process, helped us select a quality buyer at great terms, and ushered the deal towards closing.”

The JLL Capital Markets team representing the seller was led by Senior Director Joel Mendes and Managing Directors Mike Garbers and Cody Tremper. 

“The Preserve at Clearwater has performed admirably over the last 18 months, which is a testament to the strength of Solera and Elkco, as well as the onsite staff,” said Mendes. “It’s a pleasure to close this transaction with Solera and Elkco, and we feel confident the property remains in good hands.” 

According to JLL’s latest Seniors Housing & Care Investor Survey and Trends Outlook, investors and operators are increasingly bullish as they collectively prepare for the influx in demand driven by population growth in the older demographic.

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 deliver best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement, or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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