News release

Pair of Orlando office properties receive $32.7M in financing

JLL Capital Markets led financing efforts for 100 E. Pine St. and the GAI Building in Downtown Orlando

May 17, 2022

Kristen Murphy

Capital Markets, Hotels & Hospitality and Value & Risk Advisory PR
+1 617 848 1572

ORLANDO, May 17, 2022 – JLL Capital Markets announced today that it has arranged $32.7 million in financing for two Downtown Orlando office properties: the GAI Building, a trophy office property totaling 106,966 square feet and 100 E. Pine St., an 80,010-square-foot office building.

JLL worked on behalf of the borrower, Denholtz Properties, to secure the five-year financing through Ameris Bank. Loan proceeds were used to acquire the GAI Building and recapitalize 100 E. Pine St. JLL was also involved in the sale of the GAI Building to Denholtz.

Completed in 2011, the GAI Building is one of Orlando’s newest office properties and was downtown’s first privately developed LEED-certified office building. The GAI Building is fully leased to six tenants, including GAI Consultants who operates its southeastern headquarters at the property. The property is located at 618 East South St., adjacent to and visible from SR 408 East-West Expressway, one of Orlando’s primary roadways.

100 E. Pine St. is a six-story property that was extensively renovated in 2018/2019. The 90-percent-leased asset has a diverse tenant roster and offers tenants a recently renovated lobby and ground floor retail space. 100 E. Pine St. is located at the intersection of East Pine St. and South Magnolia Ave. convenient to major transportation nodes, including Interstate 4 and SR 408.

Both properties benefit from the growing Downtown Orlando office market, which has seen rents and demand steadily increase. In addition, Downtown Orlando has evolved into a true live-work-play environment with a population increase of more than 70% since 2000.

JLL’s Debt Advisory team representing the borrower was led by Senior Managing Directors Michael Klein and Jon Mikula, Senior Director Maxx Carney and Associate Ryan Carroll.

The Ameris Bank team was led by Senior Vice President Jen Pollock, CCIM.

“The competitiveness of this financing process was emblematic of lenders continued demand to finance well-located, high-quality office assets for experienced, hands-on operators like Denholtz Properties,” stated Carney. “The leasing velocity at the properties showcased continued tenant demand to occupy this same profile of product throughout the state of Florida.”

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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Denholtz Properties

Denholtz Properties is a privately held, vertically integrated commercial real estate investment and development company with a diversified portfolio of assets in strategic markets. Based in Red Bank, N.J. with a regional headquarters in Orlando, Fla., Denholtz Properties specializes in the acquisition and development of ground-up multifamily, industrial/flex and office properties. Driven by an entrepreneurial spirit and a commitment to excellence, Denholtz Properties has continuously provided outsized investment returns over its 70-year history. Additional information for Denholtz Properties is available online at