REAL ESTATE INVESTMENT
Vesta Capital LLC | December 30, 2021
Vesta Capital LLC, one of the nation's fastest growing multifamily operators, has acquired four Oklahoma apartment communities this month. The transactions are the result of a successful year for Vesta after powering through the pandemic crisis.
Vesta Capital LLC purchased Riverpark at Kensington (Tulsa), Drexel Flats (Oklahoma City), The Ridge (Midwest City), and The Lofts at North Penn (Edmond). The total purchase price was $100.4M for the 1,270 units combined.
Vesta Capital LLC continues to grow despite the Coronavirus crisis. The company has confidence in the lasting strength of the apartment industry.
Historically multi-family, particularly in markets like Oklahoma City & Tulsa have performed well even during recessions. In our mind, there will always be a need for people to provide quality housing and we are honored to help meet that need."
Marc Kulick, Founder and Managing Member of Vesta Capital and Vesta Realty.
In 2021 Vesta acquired over 3,600 units resulting in 74% growth to the business. This momentum is on track to carry over into the new year as the company is already under contract to close on three multi-family communities in the first quarter.
About Vesta Capital LLC
Vesta Capital is a privately held real estate investment firm that focuses on the acquisition and management of multifamily properties in Oklahoma and Arkansas. We purchase properties that pass our strict underwriting standards and that are positioned to perform well in a variety of market conditions. Vesta Capital LLC was founded in 2017 by Marc Kulick and has grown to operate over 8,500 units. Vesta Capital LLC is open to new investors.
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REAL ESTATE TECHNOLOGY
Rubenstein Partners | April 04, 2022
On April 1st, premier vertically integrated real estate advisor announced the acquisition of its first property in the Dallas market. Rubenstein acquired 5600 Headquarters Drive in Plano’s legacy section. The announcement was made by Founder and Senior Managing Principal, David Rubenstein. Rubenstein Partners specializes in value-added property equity and debt opportunities.
David Rubenstein stated, "Favorable market dynamics have created compelling opportunities in several of the western and southern MSAs, includingDallas. We believe that 5600 Headquarters Drive is an exciting step that will engage our vertically integrated platform while taking us beyond our traditional markets."
The property is an office building spanning 250,000 square feet with multi-level corridors connecting three pods. Cresa, a leading tenant advisory firm, facilitated the sale.
The Legacy micro market location is a magnet for corporate relocations, offering excellent access to a highly educated employee base. We look forward to executing our business plan to modernize this property into a high end, experiential office property to best capitalize on local office demand."
Read Mortimer, Senior Vice President and Regional Director, Sun Belt at Rubenstein Partners
5600 Headquarters Drive offers unmatched access to coveted residential neighborhoods as well as schools and primary transportation arteries in Dallas. It is located at the intersection of the Sam Rayburn Tollway and the Dallas North Tollway. It also offers convenient access to the DFW Airport, residential areas in the North and South, and Uptown Dallas.
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REAL ESTATE INVESTMENT
Starboard Realty Advisors | April 18, 2022
On April 15th, Starboard Realty Advisors announced the acquisition of Arden Woods, a highly amenitized, class A, garden-style apartment community in Spring, Texas. The seller was represented by Tonya Chaffin, John Carr, and Ben Fuller of Cushman & Wakefield.
Arden Woods is a community of 1-, 2-, and 3- bedroom apartments that offer a contemporary living experience. Each apartment comes with stainless steel appliances, faux-wood flooring, ceiling fans, granite countertops, and an in-unit washer and dryer. An attached garage is a feature in some units. Amenities like a resort-style swimming pool with pavilions, a fire pit, BBQ grills, storage units, a dog park, and a fitness center are part of the property’s offering. The property provides easy accessibility to North Houston, Conroe and the Woodlands.
The Arden Woods property is an excellent investment due to the projected 16.8% population increase in the surrounding area by 2026. We look forward to the opportunity it presents our investors."
Bill Winn, CEO of Starboard Realty Advisors, LLC
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