Speaker: Amy Skicki, Bay Tran
Author: Sarah
August 18 2022 BACREN Meeting | Speaker Erica Balaban, President
Erica Balaban (BACREN president with KW Commercial), Amy Skicki, our speaker, with Bay Tran) and Kelly Hutchinson (BACREN secretary with Colliers.)
August 2022 BACREN Social Honoring Partners
Four-building Industrial Portfolio in the El Paso MSA Sells
JLL Capital Markets has closed the sale of a four-building industrial portfolio totaling 326,166 square feet in El Paso, Texas and Santa Teresa, New Mexico.
JLL marketed the portfolio on behalf of Blue Road Investments. STAG Industrial acquired the portfolio.
The portfolio comprises four-buildings of infill distribution space that is 100% leased to a dynamic tenant roster of diverse industries.
The buildings are located at 150 Earhardt Way, 9494 Escobar Drive, 9555 Plaza Circle and 9571 Pan American Drive within the North American borderplex, a combination of the Las Cruces and El Paso MSA’s in addition to Cuidad Juarez, Mexico. The borderplex is home to more than 2.7 million residents with one of the largest bilingual workforces in the world and the seventh largest manufacturing hub in North America, employing more than 275,000 individuals in the region. The portfolio features premier, infill logistics locations with immediate access to vital local and regional highways infrastructure including Interstates 10 and 25, Loop 375, UP Intermodal, Ysleta-Zaragoza International Bridge and the Santa Teresa Port of Entry. As a result, the properties are well positioned to ship across the U.S. within two to three business days.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Directors Dustin Volz and Trent Agnew, Directors Dom Espinosa and Zach Riebe, Associate Josh Villarreal and Analyst Jack Copher.
ProActive Commercial Lending Group, LLC, Offers Rehab Loans to Commercial Real Estate Investors in South Texas
SAN ANTONIO, TEXAS, UNITED STATES, August 17, 2022 /EINPresswire.com/ — ProActive Commercial Lending Group, LLC, a private lending company, has offered rehab loans to provide investors quick and easy capital for financing profitable real estate investment deals. The rehab loans come under the company’s “Fix & Flip” programs, designed to help investors apply and receive funds quickly for turning low-priced homes into high value properties for sale in the hot real estate market of South Texas. ProActive makes these loans possible by partnering with the country’s top private lenders and taking risks that no other bank or institution does.
ProActive’s Texas rehab loans enable investors to fund both the purchase and renovation of a ‘fixer-upper’ through a single mortgage, eliminating the need for multiple loans. The rehab loans have interest rates that range between 9.9% to 12% depending on certain conditional factors. The loans include interest-only mortgages in which the borrower is required to pay only the interest on the loan for a certain period. Their terms range from 6 to 12 months with provisions for extension on request. The loan-to-value of the rehab loans are set up to 80% after including repair value (purchase price + renovations budget combined). If borrowers work out their finances sooner than the terms of the loans, they can pre-maturely pay off the amount without incurring prepayment penalties.
Over the years, Texas has cemented its reputation as one of the best places in America for the rehab business, and this is what ProActive aims to promote with its ‘Fix & Flip’ program. With consistently low home prices, a healthy economy, increasing job opportunities, and a good rental market, South Texas rehab loan opportunities are very appealing for commercial real estate investors. Click to read more at www.einnews.com.
Eleven-property Self-storage Portfolio Sells
JLL Capital Markets announced today that it has closed the sale of an 11-property, best-in-class self-storage portfolio totaling 6,550 units in three high-performing real estate markets, the San Francisco Bay Area; Portland, Oregon; and Austin, Texas.
JLL marketed the portfolio with Pegasus Group, on behalf of the seller, Pegasus Group sponsored investments and facilitated the sale to SecureSpace Self Storage.
Operating under the Central Self Storage brand, the institutional-quality portfolio includes the following properties:
2100 A St., Antioch, CA
2721 Shattuck Ave, Berkeley, CA
324 S. Main St., Milpitas, CA
6880 Santa Teresa Blvd., San Jose, CA
900 Lonus St., San Jose, CA
13760 E. 14th St., San Leandro, CA
355 W. Hedding St., San Jose, CA
1323 NW 16th Ave., Portland, OR
8200 South I-35 Service Road, Austin, TX
14635 West SH-71, Bee Cave, TX
8327 S. Congress Ave., Austin, TX
Primarily concentrated within the San Francisco Bay Area, the portfolio was a truly unique aggregation of best-in-class real estate in a market that rarely sees scale of this type come up for sale, coupled with more recently built Class A facilities in the highly desirable growth markets of Austin and Portland. Comprising over 650,000 square feet, the portfolio was highly sought after by a mix of capital sources as investors continue to push allocations in real estate and particularly alternatives such as self-storage.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Directors Brian Somoza and Steve Mellon, Directors Matthew Wheeler and Adam Roossien, and Analyst Jake Kinnear.