REAL ESTATE TECHNOLOGY
prnewswire | November 05, 2020
Hilco Redevelopment Partners (HRP), the real estate development unit of Hilco Global that remediates and redevelops complex and obsolete industrial properties, announced today it has hired George Needs to the position of Vice President – Mixed Use Development. Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA.
Township Capital | February 17, 2022
Township Capital and Epic Investment Services ("Epic") announce the acquisition of Urban 188 and Urban 96 ("Urban Phoenix"), two adjacent residential rental properties in Phoenix, Arizona, as part of Township's GP Value-Add Fund I. ("the fund") The fund aims to acquire garden-style multifamily properties in select markets targeting strong demographics, durable employment, and other value-add characteristics.
This marks the third and fourth acquisitions within the value – add partnership with Epic. Last year Township participated in Epic's U.S. Multifamily Fund I as lead investor with $60 million of total equity commitments.
We are proud to be a part of another acquisition with Epic. Township has aligned with the strategy backing Fund I and experienced the results of sourcing the right product for the fund firsthand, The value creation model delivers exceptional results, which is important to Township's role as a lead investor in Epic's U.S. Multifamily Fund I. We've continued to seek opportunities in the multifamily sector given how resilient it has remained through the pandemic."
Matthew Gorelik, CEO at Township Capital.
About Urban Phoenix
The 188-unit and 96-unit garden-style buildings, total 132,675 square feet and 4.42 acres located in central Phoenix. Positioned in a high rent-growth area near well-established employment hubs and in proximity to the Valley Light Rail system and Highway I-17. Providing convenient access to surrounding high profile neighborhoods of Arcadia, Biltmore, Scottsdale, and Tempe. Both have a combined occupancy rate of 92%. The acquisition offers a unique opportunity to implement a value-add program focused on modernizing finishes and improving common-area amenities.
About Township Capital, LLC
Township Capital, LLC is a leading co-GP real estate investment firm headquartered in Beverly Hills, CA. Founded by CEO Matthew Gorelik in 2014, the firm has experience investing across all major property types with a specialty in student housing, senior living, multifamily, and industrial.
About Epic Investment Services
Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Epic's Canadian head office is located in Toronto, Ontario and its U.S. head office is located in Denver, Colorado. Epic's portfolio comprises over 30 million square feet and $17.5 billion in assets under management in office, retail, industrial and multi-family residential properties.
REAL ESTATE INVESTMENT
prnewswire | October 28, 2020
New York Life Real Estate Investors ("REI") today announced the final closing of its Madison Square Structured Debt Fund ("Fund"), a commingled, high yield real estate debt vehicle. With nearly $500 million of committed capital, this closed-end fund will originate bridge loans collateralized by institutional-quality office, multifamily, industrial, retail, and other niche sector assets in primary and secondary markets in the United States. The vehicle will originate roughly $1 billion of senior bridge loans in total. John Lippmann, an industry veteran and head of structured debt at REI, serves as the portfolio manager for the Fund. Mr. Lippman and his team have originated nearly $5 billion of structured loans since 2012 and have established a very strong track record and pipeline.