ORLANDO - The Orlando office of Hendricks & Partners, the nation’s largest multi-family advisory and research firm, reported it negotiated sales of 10 apartment properties in 2010 that total 3,302 units in the Southeast.
Cole Whitaker, partner who heads the Orlando office of Hendricks & Partners and oversees the firm’s operations throughout the Southeast, said he and associate partner Hal Warren negotiated all 10 multi-family property sales as well as sales of three Florida development sites that total 402 acres.
Multi-family property sales included two student housing properties, Whitaker said.
“We project that transactions involving apartment properties will increase in 2011 as the economy improves,” Whitaker said.
“We don’t foresee significant new construction region-wide,” Whitaker said, “however, in certain submarkets in the southeast, it makes sense to consider new multi-family development and we expect to see some new construction,” he said.
* * *
For more information contact: Cole Whitaker, Southeast Partner, Hendricks & Partners 407-218-8880 cwhitaker@HPAPTS.com; Hal Warren, Associate Partner, Hendricks & Partners 407-218-8881 hwarren@HPAPTS.com
Showing posts with label apartment. Show all posts
Showing posts with label apartment. Show all posts
Friday, February 25, 2011
Tuesday, November 23, 2010
Hendricks & Partners and The Oakley Group Negotiate Sale of Large Birmingham Ala. Apartment portfolio for $32,100,000
ORLANDO - Hendricks & Partners, one of the nation’s largest multifamily advisory and research firms and The Oakley Group co-listed and negotiated the sale of the Highland Multi-Family Portfolio of apartment properties in Birmingham for $32,100,000.
Cole Whitaker, who heads the Southeast region for Hendricks & Partners in Orlando, said Abbey Residential, LLC of Birmingham acquired the portfolio, which includes 1,782 apartment units, and ranks among the largest unit sales in Birmingham history.
The portfolio includes three apartment communities, Highland Peak, with 585 apartments at 114 Aspen Circle in Homewood, Highland View with 644 units located at 700 Aspen Drive in Birmingham and Highland Bluff with 553 apartment units at 200 Robert Jemison Drive in Birmingham
“The Highland Multi-family Portfolio sale points to the strength of the Birmingham market,” Whitaker said. “Market response to this offering was exceptionally strong, and all of us are pleased that the properties were acquired by a Birmingham company,” he said.
“We are very appreciative of the support Hendricks & Partners and The Oakley Group provided in achieving the 30-day due diligence period and contract parameters to close this transaction in 60 days, said J. Frank Barefield, Jr., president of Abbey Residential, LLC. “That is a very difficult task for 1,782 distressed units,” he added.
“Abbey Residential was the perfect fit for this deal,” said David Oakley. “They did exactly what they said they would do throughout the entire process—there were no retrades and no extensions. That goes a long way in our industry and demonstrates the high standards of Abbey Residential,” Oakley explained.
Whitaker headed the Hendricks & Partners team that negotiated the sale along with associate partner Hal Warren of Orlando, and Associates John Clayton, Aaron Hargrove and Tim McKay who work out of Hendricks & Partners south central office. Hendricks & Partners and The Oakley Group represented the seller REDUS Alabama Commercial, LLC (Wells Fargo Bank, N.A.) of Atlanta, Charlotte and Los Angeles.
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For more information, contact: Cole Whitaker, Managing Partner, Hendricks & Partners 407-256-9594; David Oakley, The Oakley Group, Inc. 205-918-0785; Hal Warren, Associate Partner, Hendricks & Partners 407- 256-9594; Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
About Abbey Residential, LLC: Abbey Residential, LLC a privately held multifamily property owner headquartered in Birmingham, Ala., owns 8,000 units in Texas, Alabama, Georgia, Florida and South Carolina valued at over a half billion dollars. Abbey has been in business for over 26 years and is active in acquiring existing properties to be repositioned as well as the construction of new multifamily properties.
About Hendricks & Partners: Hendricks & Partners is the nation’s largest multifamily advisory and research firm. Since its inception, the firm has delivered the industry’s finest marketing and research platform by focusing exclusively on multifamily owners, multifamily properties, and the nation’s apartment markets. This focus allows the firm to create the most efficient apartments-only marketplace, as well as recruit expert advisors, research professionals and support staff to ensure that every innovation, from new marketing techniques to the collection of market data, achieves maximum value for apartment owners, investors, lenders and servicers.
About the Oakley Group:The Oakley Group, Inc. is a commercial real estate firm with a primary focus on multi-family brokerage and management services based in Birmingham, Alabama. With our unsurpassed local market knowledge and relationship network, The Oakley Group strives to provide quality service to both institutional and private investors. Our approach is simple; offer a realistic assessment of property value, provide quality management services to both residents and owners, and work through every detail with honesty and integrity. Because our primary focus is on multi-family we have the capability to deliver brokerage services seamlessly and efficiently by individualizing each client’s goals and objectives.
Cole Whitaker, who heads the Southeast region for Hendricks & Partners in Orlando, said Abbey Residential, LLC of Birmingham acquired the portfolio, which includes 1,782 apartment units, and ranks among the largest unit sales in Birmingham history.
The portfolio includes three apartment communities, Highland Peak, with 585 apartments at 114 Aspen Circle in Homewood, Highland View with 644 units located at 700 Aspen Drive in Birmingham and Highland Bluff with 553 apartment units at 200 Robert Jemison Drive in Birmingham
“The Highland Multi-family Portfolio sale points to the strength of the Birmingham market,” Whitaker said. “Market response to this offering was exceptionally strong, and all of us are pleased that the properties were acquired by a Birmingham company,” he said.
“We are very appreciative of the support Hendricks & Partners and The Oakley Group provided in achieving the 30-day due diligence period and contract parameters to close this transaction in 60 days, said J. Frank Barefield, Jr., president of Abbey Residential, LLC. “That is a very difficult task for 1,782 distressed units,” he added.
“Abbey Residential was the perfect fit for this deal,” said David Oakley. “They did exactly what they said they would do throughout the entire process—there were no retrades and no extensions. That goes a long way in our industry and demonstrates the high standards of Abbey Residential,” Oakley explained.
Whitaker headed the Hendricks & Partners team that negotiated the sale along with associate partner Hal Warren of Orlando, and Associates John Clayton, Aaron Hargrove and Tim McKay who work out of Hendricks & Partners south central office. Hendricks & Partners and The Oakley Group represented the seller REDUS Alabama Commercial, LLC (Wells Fargo Bank, N.A.) of Atlanta, Charlotte and Los Angeles.
* * *
For more information, contact: Cole Whitaker, Managing Partner, Hendricks & Partners 407-256-9594; David Oakley, The Oakley Group, Inc. 205-918-0785; Hal Warren, Associate Partner, Hendricks & Partners 407- 256-9594; Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
About Abbey Residential, LLC: Abbey Residential, LLC a privately held multifamily property owner headquartered in Birmingham, Ala., owns 8,000 units in Texas, Alabama, Georgia, Florida and South Carolina valued at over a half billion dollars. Abbey has been in business for over 26 years and is active in acquiring existing properties to be repositioned as well as the construction of new multifamily properties.
About Hendricks & Partners: Hendricks & Partners is the nation’s largest multifamily advisory and research firm. Since its inception, the firm has delivered the industry’s finest marketing and research platform by focusing exclusively on multifamily owners, multifamily properties, and the nation’s apartment markets. This focus allows the firm to create the most efficient apartments-only marketplace, as well as recruit expert advisors, research professionals and support staff to ensure that every innovation, from new marketing techniques to the collection of market data, achieves maximum value for apartment owners, investors, lenders and servicers.
About the Oakley Group:The Oakley Group, Inc. is a commercial real estate firm with a primary focus on multi-family brokerage and management services based in Birmingham, Alabama. With our unsurpassed local market knowledge and relationship network, The Oakley Group strives to provide quality service to both institutional and private investors. Our approach is simple; offer a realistic assessment of property value, provide quality management services to both residents and owners, and work through every detail with honesty and integrity. Because our primary focus is on multi-family we have the capability to deliver brokerage services seamlessly and efficiently by individualizing each client’s goals and objectives.
Friday, November 19, 2010
Marketplace Advisors, Inc. negotiates the sale of a nine-acre Poinciana site for $1.9 million, rental apartment community planned
ORLANDO - Marketplace Advisors, Inc. of Orlando recently negotiated the sale of a nine-acre Poinciana parcel for $1,900,000.
David Marks, president of Marketplace Advisors, Inc., negotiated the sale representing buyer Fountains at San Remo Court, LTD.
The seller was Avatar Properties, Inc.
Marks said the buyer plans to build The Fountains at San Remo Court, a rental apartment
community, with construction to start shortly.
For more information, contact:
David Marks, Marketplace Advisors, Inc., 407-599-0007, dmarks@cfl.rr.com; Larry Vershel or Beth Payan, LV Communications, 407-644-4142
David Marks, president of Marketplace Advisors, Inc., negotiated the sale representing buyer Fountains at San Remo Court, LTD.
The seller was Avatar Properties, Inc.
Marks said the buyer plans to build The Fountains at San Remo Court, a rental apartment
community, with construction to start shortly.
For more information, contact:
David Marks, Marketplace Advisors, Inc., 407-599-0007, dmarks@cfl.rr.com; Larry Vershel or Beth Payan, LV Communications, 407-644-4142
Wednesday, November 18, 2009
Emerson International starts Preleasing of Emerson Plaza II overlooking Crane’s Roost, Emerson Plaza I fully occupied
ALTAMONTE SPRINGS, Fla. --- Emerson International has started preleasing of luxury apartment homes at Emerson Plaza II, one of two 12-story luxury residential towers overlooking Cranes Roost Park at Center Pointe on the Park in Altamonte Springs.
Eric Emerson, vice president of Emerson International, said Emerson Plaza I is fully occupied.
One, two, three and four-bedroom luxury apartment homes in Emerson Plaza II will lease from $1,200 per month, Emerson said. Altogether, 64 luxury residents are available for lease.
The Twin Towers at Emerson Plaza ranks as one of Central Florida's most prestigious new, gated master-planned communities and is being developed by Emerson International Inc., a member of The Emerson Group a global corporation that is one of the largest privately-owned property development companies in the U.K.
For more information contact:
Eric J. Emerson, Vice President / General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com
Larry Vershel or Beth Payan Larry Vershel Communications 407-644-4142 Lvershelco@aol.com
Eric Emerson, vice president of Emerson International, said Emerson Plaza I is fully occupied.
One, two, three and four-bedroom luxury apartment homes in Emerson Plaza II will lease from $1,200 per month, Emerson said. Altogether, 64 luxury residents are available for lease.
The Twin Towers at Emerson Plaza ranks as one of Central Florida's most prestigious new, gated master-planned communities and is being developed by Emerson International Inc., a member of The Emerson Group a global corporation that is one of the largest privately-owned property development companies in the U.K.
For more information contact:
Eric J. Emerson, Vice President / General Manager Emerson International, Inc. 407-834-9560; ejemerson@emerson-us.com
Larry Vershel or Beth Payan Larry Vershel Communications 407-644-4142 Lvershelco@aol.com
Thursday, April 23, 2009
Melrose-Sovereign Companies Awarded two new Management Contracts at Apartment Communities in Southeast and Southwest Orlando
Melrose-Sovereign Companies Awarded two new Management Contracts at Apartment Communities in Southeast and Southwest Orlando
ORLANDO, Fla. - Melrose-Sovereign Companies, the Orlando-based real estate management firm that specializes in rental apartment communities, condominiums and homeowner associations, was awarded contracts to manage two rental apartment communities in Orlando.
Ellen Lumpkin, LCAM, co-founder and partner at the firm with Jack Hanson, said the new management assignments include:
Waterford Landings, where Melrose-Sovereign will manage 72 of the 200 plus units at the community on Alafaya Trail in southeast Orlando; and at Walden Palms, Melrose-Sovereign will also manage a cluster of 72 apartments in the community of over 200 units located off Conroy-Windermere Road near the Mall at Millennia.
Melrose-Sovereign Companies currently manages properties for more than 150 developers, investors and owners throughout Florida. The firm employs more than 100 property management specialists with offices in Jacksonville, Orlando, Tampa, Palm Harbor, Bradenton/Sarasota, Port Charlotte and Fort Myers.
For more information, contact:
Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, mailto:elumpkin@melrose-sovereign.com%20Jack
Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, Lvershelco@aol.com
Friday, April 17, 2009
Melrose Sovereign Companies appoints new property manager, three new leasing agents
Melrose Sovereign Companies appoints new property manager, three new leasing agents
ORLANDO, Fla. - Melrose Sovereign Companies, the Orlando-based real estate management firm that specializes in rental apartment communities, condominiums and home owner associations, recently appointed a new property manager and three new leasing agents.
Ellen Lumpkin, LCAM, co-founder and partner at the firm, said Belinda Diaz was recently appointed property manager. She has been in the real estate industry for 11 years.
New leasing agents are Kyla Lacey, Yuri Abad and Porsche Merino.
For more information, contact:
Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com
Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, Lvershelco@aol.com
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