EverWest Acquires Core Development Site

4400 South Wood Avenue, Linden, NJ

April 10, 2018

EverWest, in partnership with Accordia Realty Ventures, is pleased to announce the acquisition of a 20 acre development site located in Linden, NJ approximately 6 miles from the port of Newark. Construction of a 130,000 square foot warehouse/distribution facility is projected to commence in May 2018 with delivery anticipated for Q1 2019.

"The purchase of this site has been a 2.5 year long process so it is very gratifying to start work on a new state of the art facility that will deliver functional infill warehouse space that the market is clamoring for." said EverWest's Head of Acquisitions, Mark Bigarel, who oversees the company's acquisition activity in the U.S.

EverWest acquired 4400 South Wood Avenue on behalf of an institutional separate account.

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EverWest Acquires Core Development Site

220 York, Bensenville, IL

March 9, 2018

EverWest, in partnership with Distribution Realty Group (DRG), is pleased to announce the acquisition of a 10 acre development site located in DuPage County in the O'Hare submarket of Chicago.  The site, just north of the intersection of York and Irving Park Roads, is directly across the street from O'Hare Airport.  Construction of a 190,217 square foot Class A industrial building is projected to commence in April 2018 and deliver in February 2019.

"This is a great project and the team at DRG has done a masterful job of corralling multiple sellers in assembling this well located site that only gets better with the impending completion of the Elgin O'Hare Western Access Project," said EverWest Managing Director-Portfolio Manager, Tom Karbowski, who oversees the company's acquisition activity in the U.S. midwest region.

EverWest acquired 220 York on behalf of an institutional separate account with a Fortune 500 telecommunications company.

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EverWest Acquires Core Office Building


Barton Ridge, Austin, Texas

EverWest, in partnership with Frontal Trust Real Estate USA, is pleased to announce the acquisition of Barton Ridge, a 108,320 square foot office building located at 4544 South Lamar Boulevard, Building 600 in Austin, Texas.   Positioned in Austin's high performing Southwest Submarket, the property offers convenient access to Downtown, Austin-Bergstrom International Airport and upscale residential and retail areas.

The project represents an infill Austin, Class A office product that features large floor plate designs and a parking ratio of 5.2:1,000 NRSF; open concept with exposed ceiling suited for Austin's creative tenants.

"EverWest continues to be a big believer in the growth of the Austin market and particularly have a high opinion of the infill South Lamar location, which has been one of the fastest growing corridors for development and redevelopment in the market over the past 10 years.  We are excited to obtain another investment in the highly competitive market of Austin for our investors," said EverWest Senior Vice President-Head of Acquisitions, Mark Bigarel, who oversees the company's acquisition activity on a national basis.  
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EverWest Closes on Preferred Equity for Multi-Family Project

Ascent Westminster Westminster, CO

EverWest Real Estate Partners is pleased to announce the closing of a Preferred Equity investment supporting the development financing of a 255-unit, 5-story apartment project located in Westminster, CO (part of the Denver MSA).  The project is part of a new Westminster downtown master plan and the site is adjacent to the Flatiron Flyer express bus stop, which is one-stop from downtown Denver's vibrant Union Station train terminal.  The site is also adjacent to Westminster's future light rail station, making this a Transit-Oriented Development. 
 
The Sponsor, Minneapolis-based Sherman Associates, is a very experienced multifamily developer, having completed close to 10,000 residential units, and has been working closely with the City of Westminster to ensure the project design and execution is in line with their long term vision of the broader Westminster Town Square. 
 
EverWest advised one of its investment clients on the investment.  The senior construction loan was provided by Natixis bank. Baxter Fain led JLL's Capital Markets team in Denver on the transaction.
 
Joe Chickey, Senior Director at EverWest said, "The location of the project, which is roughly equidistant between downtown Denver and Boulder, coupled with the increasing Denver population and employment drivers, will ensure a successful lease-up once completed.  Also, the quality of the Sherman development team as well as the support from the City of Westminster, will further enhance the success of this project."
 
Zi Chong, Associate at EverWest said "We are excited to be part of the creation and development of a new downtown for the City of Westminster and we are impressed by the commitment of Sherman Associates and the City of Westminster on this long term plan." 
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