JLL Capital Markets announced today that it is exclusively marketing for sale a luxury rental property at 840 Fulton St. in Brooklyn’s Clinton Hill neighborhood. The newly constructed property, which comprises 39 residential units and one retail unit, seeks $34.5 million.

Constructed in 2019, the seven-story, 39,266-square-foot property features a retail space occupied by Wholesome Farms Market. The building offers superior amenities, including a gym, lounge, game room, bike room and a rooftop terrace, and boasts views of the New York City skyline. The building is conveniently located near the Clinton-Washington subway station, which provides direct Manhattan access via the C line. The property stands in a dynamic neighborhood with a wide array of nearby restaurants, nightlife, shopping and attractions.

The JLL Capital Markets team marketing the property on behalf of the seller is led by Vice Chairmen Stephen Palmese and Brendan Maddigan; Managing Directors Winfield Clifford, Michael Mazzara and Ethan Stanton; Senior Director Steven Rutman and Vice President Patrick Madigan. Managing Director Peter Rotchford and Senior Director Jillian Mariutti are the financing leads. 

“This is an investment opportunity for a well-located rental property with a long-term tax abatement,” Palmese said. 

“The building is perfectly positioned to accommodate renters seeking condo-quality space with abundant in-building and neighborhood amenities,” Clifford added.

JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for The Remington, a 200-unit, garden-style multi-housing community in the central Texas city of Killeen, Texas.

JLL marketed the property on behalf of the seller, NALS Apartments Homes. JLL worked on behalf of GPI Real Estate Opportunity Fund to originate the Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

The Remington comprises one- and two-bedroom units ranging from 450 to 1,100 square feet. Units feature a ceiling fan, separate dining area and private patio/balcony with storage closets. Select units feature a full-size washer and dryer, upgraded faux wood flooring and wood-burning fireplace. Community amenities include a seasonal swimming pool and sundeck, fitness center, off-leash dog park, car wash area, barbeque grills, business center and laundry facility. 

Located at 1001 North Twin Creek Dr., The Remington is approximately 60 miles north of Austin, 50 miles southwest of Waco and 10 miles southwest of Temple in central Texas. The property is just north of heavily traveled thoroughfares Highway 190 and Interstate 14, providing residents ease of access throughout Killeen and to nearby employment hubs. Just 15 minutes from the property is Killeen’s western neighbor, Fort Hood, the largest U.S. Army base in the world. There are currently 45,000 military personnel assigned to Fort Hood, with a civilian workforce over 20,000. Other major employers in the Killeen-Temple-Fort Hood MSA include the Scott & White Memorial Hospital, McLane Company, Killeen ISD, Texas A&M University-Central Texas, Metroplex Health System, City of Killeen, Atmos Energy, Westar Aerospace, Bell Glass, L-3 Communications, Pactiv Corporation and Wilsonart International.

The JLL Capital Markets Investment Sales Advisory team representing the seller included Senior Managing Director Sean Sorrell, Senior Director Steven Hahn Jr., Director Art Barnes and Senior Directors Ryan McBride and Joe Dowdle. Analysts for the JLL team included Nicole Fontaine and Sam Nichols.

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Director CW Sheehan and analysts Matthew Ctvrtlik and Scott Dickey.

JLL Capital Markets announced today it secured a $49 million acquisition financing for the Aspire 7th & Grant, a newly constructed, luxury multi-housing property with ground-floor retail located in the Capitol Hill submarket of Denver, Colorado.

JLL represented the borrower, an institutional fund, to secure the seven-year, fixed-rate loan through Northwestern Mutual Real Estate Investments.

The Aspire 7th & Grant apartments were completed in 2020 and total 178 studio, one- and two-bedroom units, averaging 882 square feet. The apartment units are currently 74% leased and the 3,898-square-foot attached retail is 47% leased, with the remaining commercial space currently available for lease. Units feature modern finishes, like high ceilings, oversized window and grand balconies, and high-end community amenities, including a sky terrace with an outdoor fireplace, chef-inspired kitchen with a dining area, 8th floor club area, rooftop business center, 2nd floor garden deck with a resort-style pool, state-of-the-art fitness center, yoga studio, indoor pet spa and grilling lounge.

The Class A property is situated in the Governor’s Park neighborhood of Capitol Hill at 670 N. Grant St., an area boasted for its premiere fining scene. Some of Denver’s most prominent restaurants led by renowned chefs are just steps away from the property. The property is also proximate to Speer Boulevard, Broadway and 6th Ave., Denver’s primary arteries, and allow access to Downtown Denver, Cherry Creek and Washington Park.

The Aspire 7th & Grant apartments are positioned in the densest submarket in Denver. According to JLL’s latest Multi-Housing Outlook, the Denver market held resilient, with today, rents around the same level as they were 18 months ago. For developers, opportunity is striking, with the report also stating that transaction activity is continuing upward momentum from Q4 2020, as investors acquired $1 billion of multi-housing assets in Q1 2021.

The JLL Capital Markets team representing the borrower was led by Managing Director Leon McBroom.

“This was an off-market acquisition and the property was still a ways from stabilizing to qualify as an agency financing,” says McBroom. “We were able to engage with insurance companies to underwrite and size proceeds based on stabilized metrics. As such, we were able to successfully secure the necessary acquisition financing that aligned with the borrower’s hold strategy.”

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.

For more news, videos and research resources on JLL, please visit our newsroom.

JLL Capital Markets announced today that it has arranged $4.95 million in acquisition financing for Lightner Creek Village Apartments, a 35-unit multi-housing community in Durango, Colorado.

JLL worked on behalf of the borrower, Trailbreak Partners, to secure the fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender. 

Lightner Creek Village Apartments comprises studio, one-, and two-bedroom units ranging from 496 to 881 square feet. The apartment units feature open concept living areas, large windows, walk-out private decks and in-unit washer and dryer. Community amenities include outdoor gathering spaces, garages, on-site storage units and secured access to the building. 

Located at 20310 US Highway 160 W., Lightner Creek Village Apartments is near Twin Buttes biking and hiking trails and Durango Off Leash Dog Park. Residents enjoy turn-of-the-century hotels, the historic railroad, frontier museums and more gourmet restaurants per capita than San Francisco. Durango is in southwestern Colorado near the New Mexico border and has both a vibrant, unique downtown shopping district and large chain and grocery stores for convenience. Area residents enjoy distinct four seasons and a milder climate for Colorado, which makes it perfect for a variety of outdoor activities. Outdoor enthusiasts can explore multiple city parks and open space, along with several lakes and three ski resorts located within 100 miles of the city.

The JLL Capital Markets debt team that represented the borrower was led by Director Rob Bova.

Agency/GSE lending and loan servicing are performed by JLL Real Estate Capital, LLC, a wholly owned indirect subsidiary of Jones Lang LaSalle Incorporated. Loans made or arranged in California are pursuant to a California Financing Law license.

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 closed the sale of Parallax, a 66-unit, Class A, luxury multi-housing community in the Boise-Eliot neighborhood of Portland, Oregon.

JLL marketed the property on behalf of local sellers, VWR Development and Holt Group Inc. A California-based private investor acquired the property.

Completed in June 2020, Parallax comprises studio, one- and two-bedroom units ranging from 377 to 742 square feet. Additionally, there are 3,444 square feet of retail space. Units feature nine- to 14-foot ceilings, floor-to-ceiling windows, stainless steel appliances, gas range, modern cabinetry, tile backsplash, luxury vinyl plank flooring, solar shades, a washer and dryer and air conditioning ports. Community amenities include a rooftop terrace with fire pit and barbecue, paid gated parking, controlled access, 24/7 package lockers and a community lounge. 

Located in the Boise-Eliot neighborhood, the community benefits from immediate access to three of Portland’s most well-known retail, dining and entertainment corridors – North Williams Avenue, North Mississippi Avenue and Northeast Alberta Street. In addition, Parallax is surrounded by the city’s largest employers, including expanding Adidas and Daimler North American Headquarters. Over the last 10 years, the area's resurgence has transformed it into a walkable, bikeable, mixed-use lifestyle and leisure activity hub that attracts highly paid and educated renters. 

The JLL Capital Markets investment sales team that represented the seller was led by Senior Managing Director Ira Virden, Senior Director Carrie Kahn and Associate Frank Solorzano.

“The quality of construction, strong urban location and improving market fundamentals, combined with a substantial decline in the multi-housing development pipeline over the next 18 months make Parallax an extremely attractive investment opportunity today,” Kahn said. “Additionally, its strong performance during an extraordinarily challenging time in the market highlights the resilience of well-located, high-quality apartment properties.”    

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 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.”