ORLANDO, Dec. 7, 2021 – JLL Capital Markets announced today that it has closed the sale of Falcon Square at Independence, a 379-unit, three-story, garden-style community in Winter Garden, Florida.

JLL marketed the property on behalf of the seller, Venterra Realty. Cortland acquired the asset.

Built in 2008 and consisting of 11 three-story, concrete block buildings, Falcon Square features units with full-sized washers and dryers, walk-in closets, breakfast bars, screened-in private balconies, nine-foot ceilings, hardwood-style vinyl flooring and average floorplan sizes of 1,122 square feet. Community amenities include a resort-style pool, two basketball courts, a dog park, detached garages, a resident business center, hiking and biking trails, a fitness center, a poolside grilling station, playground, a resident game room and tennis courts.

Falcon Square is located within the Independence PUD in the heart of Horizon West, a 2,100-acre premier master-planned community, made up of five unique villages that were carefully designed to ensure convenient access to top-tier schools, vibrant retail centers and public parks for its residence. Situated at 14600 Ave. of the Groves, the property offers immediate accessibility to State Road 429, which provides superior freeway connectivity throughout the Orlando MSA. 

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Jay Ballard and Ken DelVillar.

“Falcon Square received strong institutional investor interest due to the location of the asset, it’s concrete block construction, and the opportunity to implement a true value-add investment program, since the interiors were all original.” said Ballard. “The property’s location within the Independence PUD and proximity to A-rated elementary and middle schools also created strong interest.”

MORRISTOWN, N.J., Dec. 9, 2021 – JLL Capital Markets announced today that it has closed the sale of Southpoint at Massapequa, a 214-unit, luxury, multi-housing community located in Massapequa, New York.

JLL represented the seller, JRK Property Holdings. Fairfield Properties acquired the asset.

The property possesses an attractive unit mix that consists of large one-, two- and three-bedroom units some of which are townhouse style.  These units average 987 square feet.  Select units feature stainless steel appliances, newly renovated kitchen and baths, granite countertops, private entry, oversized closets bay windows and patios and balconies. Community amenities include a resort-style pool, sundeck, fitness center, “bark park”, outdoor BBQ area and valet trash collection.

Situated on the South Shore of Long Island in Nassau County, the community benefits residents with its proximity to coastal locations such as Jones Beach and Fire Island as well as various restaurants, parks, schools, grocery stores and shopping. The property is also located off of NY-27 providing connectivity to all major Long Island highways and offering unmatched accessibility to Suffolk County and the greater Tri-State area. In addition, Southpoint is less than two miles from the Amityville and Massapequa Park train stations, allowing convenient transportation to New York City by public transit or car.

The JLL Capital Markets Sales and Advisory team representing the seller was led by Managing Director Steve Simonelli, Senior Managing Director Jose Cruz, Managing Director Michael Oliver, Senior Managing Directors Kevin O’Hearn and Andrew Scandalios and Analyst Josh Stein.

“Interest in Long Island multi-housing communities continues to be at an all time high. The quality of the property and location, along with the upside in rents at Southpoint drew interest from national institutional investors as well as the local and regional private investors,” stated Simonelli.

CHICAGO, Dec. 8, 2021 – JLL Capital Markets announced that it has closed the sale of 1717, a 175-unit, mid-rise apartment building in Evanston, Illinois.

JLL represented the seller, Invesco Real Estate, a global real estate investment manager. CBRE Investment Management acquired the asset on behalf of the CBRE Strategic Partners U.S. Value 9 fund.

Built in 2013, 1717’s units feature stainless steel appliances, granite countertops, recycled glass tile backsplashes, designer kitchen cabinet hardware, wood-style vinyl flooring, nine-foot ceilings and full-size washers and dryers. Community amenities include a resort-inspired pool and sundeck, a private terrace with a fire pit, grilling stations, picnic area, a state-of-the-art fitness center, a resident lounge, a business center with workstations and a cybercafé with televisions and sun terrace views.

Located at 1717 Ridge Ave., the community is conveniently situated just south of the convergence of Green Bay Road and Ridge Avenue in Chicagoland’s northern suburbs. The location offers both a suburban lifestyle with parks, green space and outdoor recreation, as well as an urban environment with direct access to top employers, retail centers, restaurants, bars and entertainment. Residents have a variety of transportation options, as the building is close to US-41, I-94 and the Davis Street Station Metra UP-N and CTA Purple Line. Additionally, residents are proximate to the Chicago CBD, Lake Michigan’s beaches, Northwestern University and O’Hare International Airport.

The JLL Capital Markets team representing the seller was led by Senior Director Kevin Girard, Executive Managing Director Matthew Lawton and Managing Director Mark Stern.

“This was a fantastic opportunity to work with two very important institutional clients on a deal in a dynamic location,” Girard said. “Evanston as a market has experienced extraordinary rent growth due to outsized demand and unique qualities with urban/suburban amenities, proximity to Northwestern University, Lake Michigan and both Metra and CTA train lines.”

JLL Capital Markets announced today that it has arranged $53.566 million in acquisition financing for Glenview House, a 146-unit, midrise multi-housing community with a ground-floor Walgreen’s location in Stamford, Connecticut. 

JLL worked on behalf of the borrower, Beachwold Residential LLC, to secure the three-year, floating-rate loan through MetLife Investment Management.

Glenview House consists of one-, two- and three-bedroom units averaging 1,280 square feet that offer lofts, vaulted ceilings, walk-in closets, wood-style floors, kitchen islands, double vanities in primary suites, GE stainless steel appliances and full-sized washer and dryers. The community features a courtyard with pool and barbeque area, fitness center, club room with bar, kitchen, billiards room, and business center. The ground-floor Walgreen’s provides tenants an invaluable, convenient retail amenity. 

Located at 25 Glenbrook Rd., Glenview House is located on the edge of Stamford’s CBD and is surrounded by numerous major employers, retail amenities and entertainment options within walking distance. Additionally, Midtown Manhattan is only 50 minutes away via Metro North. Residents can also easily access Interstate 95 and Route 1 within minutes from their homes.

Fairfield County experienced a 357 percent increase in address changes of people relocating from New York City from March through December 2020, compared to the same period in 2019. Since 2010, Stamford’s CBD has experienced 82.6 percent growth in overall population.

The JLL Capital Markets Debt Advisory team that represented the borrower was led by Senior Managing Directors Elliott Throne and Mona Carlton, Directors Alex Staikos and Amit Kakar, and Associate Kenny Cutler.

“MetLife Investment Management provided a thorough financing solution that allows Beachwold to execute their business plan with exceptional flexibility,” said Kakar. 

“Beachwold is adding another well-located Class A asset in Stamford to their portfolio with this acquisition, as they double down on growing Connecticut cities,” added Staikos. 

Acquisition of 216-unit Eagle Point Apartments is the ninth and final acquisition of Monument Opportunity Fund IV

MINNEAPOLIS, MN  –  Monument Capital Management, an A-Rod CORP company and one of the country’s premier fully integrated real estate investment firms, announced the $30.250 million acquisition of Eagle Point Apartments, a 216-unit multifamily community located at 2044 Oakdale Avenue, West St. Paul, Minnesota.

The acquisition of Eagle Point closes out Monument Capital Management’s Monument Opportunity Fund IV, and represents the fund’s ninth acquisition. It is Monument’s fifth overall acquisition in Minnesota, inclusive of existing joint ventures.

Jones Lang LaSalle (JLL) represented the sellers, Timberland Partners XXXIV, LLP; Timberland Partners III, LLP, and Michael A. Nelson, LLC.  Monument represented itself in the transaction.

Built in 1972, Eagle Pointe is a fully-amenitized apartment community on 11.5 acres, comprised chiefly of two-bedroom residences. It offers a broad range of amenities, among them a fitness center, indoor and outdoor pool, tennis court, and more.

Monument will be upgrading the unit interiors and the building exterior, as well as enhancing the amenities and the community’s overall curb appeal.

“We are extremely bullish on Minnesota as a whole, and very pleased with this particular acquisition,” said Stuart Zook, Principal and CIO of Monument Capital Management. “It ideally fits our acquisition criteria, that of being in a strategic location, near a major employment hub.”

“Workforce housing is one of the most compelling housing needs,” adds Erin Knight, President of Monument Capital Management. “We look forward to exploring additional opportunities within Minnesota.”

For more information, please visit http://www.mcmgmtllc.com/.

About Monument Capital Management

Monument Capital Management (MCM), an A-Rod CORP company, is one of the country’s premier fully integrated real estate investment firms. Specifically targeting markets with a strong demand for workforce housing, MCM has acquired over or more than $900 million of real estate assets across 14 states through opportunity funds and joint ventures. The organization strategically identifies assets in markets with attractive demographics at a deal size where competition is limited, and its seasoned team can immediately leverage its operational expertise. The firm has excelled at its mission of investing in real estate assets where it can add value and deliver superior, risk adjusted returns, while protecting capital and mitigating downside risks.

Vanderpoel will co-lead the platform with Senior Managing Director Steve Henderson

CHICAGO – Sept. 22, 2021 – JLL announced today that Luke Vanderpoel has been appointed Senior Managing Director and co-lead of the company’s Freddie Mac platform alongside Senior Managing Director Steve Henderson.

Vanderpoel has nearly 20 years of experience in commercial real estate with a specialization in Agency debt and Freddie Mac loan programs. Over the course of his career, he’s been involved in more than $25 billion of commercial real estate transactions, including Freddie Mac originations. He began his career as a Production Analyst with HFF, which was acquired by JLL in 2019. 

For the sixth consecutive year in a row, JLL was ranked the #1 Freddie Mac Affordable Housing Lender in 2020. JLL also ranked the #3 Freddie Mac Multi-housing Lender by volume in 2020 with year-end transaction volume totaling $9.9 billion.

“As we continue to focus on our multi-housing business and growing our agency lending platform, it was a natural progression for Luke to move into a leadership role within the group,” said Gerard Sansosti, Executive Managing Director and Co-lead of JLL’s Debt and Loan Sale platform. “His knowledge, relationships and affable professionalism make him a valuable teammate for our JLL team as well as our multi-housing clients.”