REAL ESTATE INVESTMENT
Bell Partners | December 21, 2021
Bell Partners Inc., one of the nation's leading apartment investment and management companies, today announced it has acquired Routh Street Flats, a 208-unit apartment community located in Dallas, Texas. The property, to be renamed Bell Katy Trail, was acquired on behalf of a separate account venture between Bell Partners and HANSAINVEST Real Assets GmbH, a leading institutional investment firm based in Hamburg, Germany.
Located in the heart of Uptown Dallas, Bell Katy Trail offers residents access to dining, entertainment, shopping, and recreation opportunities. Bell Katy Trail is minutes from the West Village, a premier shopping and dining center, putting residents within walking distance of grocery and retail needs. The property is also near popular cultural and recreation spots, including the Arts District, Katy Trail and the Turtle Creek Greenbelt. Bell Katy Trail is also a short walk from the McKinney Avenue Trolley, connecting the property to a range of destinations in the city.
Completed in 2015, Bell Katy Trail features a mix of studio, one- and two-bedroom units. Common area amenities include a rooftop terrace with a fire pit and views of the city, an infinity saltwater pool and a fitness center. Apartment interiors include granite surfaces, stainless appliances and full-size washers and dryers.
As apartment residents increasingly seek well-located housing offering convenient, walkable access to employment, retail and cultural offerings, the acquisition of Bell Katy Trail reflects Bell Partners' targeted investment in urban submarkets like Uptown, With approximately 70,000 units currently under management, including over 7,700 units in Dallas, we will leverage our local experience and extensive operating platform to maximize performance."
Nickolay Bochilo, EVP of Investments at Bell Partners.
Bell Katy Trail follows the company's acquisition in August of Bell CityLine, a 435-unit community located in the Dallas suburb of Richardson. In June, Bell Partners acquired Lenox Springs and Lenox Meadows in Austin, merging operations with an existing Bell property, Bell Southpark, to form a combined 949-unit multifamily community. The company has completed $4.8 billion in transactions in 2021 and is actively investing in 14 target U.S. markets located in the Northeast, Mid-Atlantic, Southeast, Texas and West Coast.
About Bell Partners Inc.
Established in 1976, Bell Partners Inc. ("Bell Partners" or the "Company") is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily rental communities throughout the United States. With approximately 70,000 units under management, Bell Partners is one of the largest apartment operators and renovators in the United States. The Company has over 1,600 associates and ten offices (including its headquarters in Greensboro, N.C.) and offers an extensive and full-service platform containing expertise in acquisitions and dispositions, construction, financing, property operations, accounting, risk management, and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $22 billion of apartment transactions since 2002.
About HANSAINVEST Real Assets
HANSAINVEST Real Assets GmbH stands for long-term experience and sustainable investments in the real estate and infrastructure sector. In total, more than 90 employees manage assets of over EUR 6.6 billion. In the real estate segment, the internationally positioned experts manage office, retail, hotel, logistics and residential properties in 19 countries. In addition to portfolio management, the areas of acquisitions and sales, asset management and project development are also covered. In the infrastructure segment, the international portfolio of infrastructure investments is managed with a volume of more than EUR 1.1 billion. Other services include the acquisition of assets and continuous portfolio management.
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REAL ESTATE INVESTMENT
Storage Post | February 23, 2022
Storage Post Self Storage added a 92,470 square foot self-storage property to its brand and business structure. The multi-story facility is located in heart of Alphabet City in lower Manhattan's East Village.
Storage Post Self Storage now acts as third-party management of the storage facility at 444 East 10th Street. The self-storage building offers a broad range of storage units, from small 4' x 4' x 4' locker storage units to extra-large 20' x 22' full sized storage units, and features a large multi-bay interior loading area. Storage Post and its experienced management team will incorporate the asset into Storage Post's robust and transformative operating platform and advanced sales and marketing strategies, and will leverage Storage Post's strong brand presence within the New York City MSA.
This is an exciting time for Storage Post as we bring new locations into our brand. As a team, both in the field and at the corporate office, we are working toward optimal property performance and expanding our consumer markets, We feel we can deliver tremendous value to the ownership group with our multi-faceted operating system."
Dylan Delaune, Storage Post Chief Operating Officer.
The self-storage industry is in a great place right now with increasing occupancy and strong demand, not to mention great investing opportunities. Many storage companies are expanding and buying properties. We expect to add many more locations in 2022 to bring the Storage Post name to more regions and increase our market share."
Storage Post's director of acquisitions, Jack Giannola.
Storage Post-East Village is one of many properties Storage Post will add in 2022 as the company moves forward with its aggressive acquisitions and growth strategies. Storage Post is actively pursuing self-storage real estate in dense submarkets and either single or portfolio transactions. The company also selectively considers self-storage management opportunities for owners seeking increased operational value and investment returns.
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REAL ESTATE INVESTMENT
Cresset Partners | August 12, 2021
CressetEstate Partnersesset Real and Clarius Partners have closed on the land acquisition for 303 Crossroads, a 1,758,410 square foot logistics development in Glendale, Arizona.
The project will consist of two buildings to be built across two phases on land fronting Loop 303 and Northern Parkway in Glendale. Building one will be 1,023,610 square feet and is scheduled to be completed in 2022. Building two will be 734,800 square feet and is slated for completion in 2023. Groundbreaking is scheduled for October 2021.
The 98-acre 303 Crossroads project consists of two buildings totaling 1,758,410 square feet.
Both buildings will be built to stringent modern design standards and will target e-commerce, distribution, and warehousing users. Features of the buildings will include cross-dock configuration, 40-foot clear height, above-market parking ratios, and direct frontage on both Loop 303 and Northern Parkway.
"Cresset Real Estate Partners is pleased to partner with Clarius Partners on this project for a multitude of reasons. The Phoenix industrial market has continued to see high levels of growth, with more than 6 million square feet of absorption through the second quarter of 2021. The bulk of this activity has occurred in the Southwest Valley. This market's population growth and the relatively low existing inventory of modern big-box industrial buildings has created a significant opportunity for developments of this type," said Dominic DeRose, Director for Cresset Real Estate Partners.
"Clarius Partners is excited to announce the 303 Crossroads Industrial Project in conjunction with Cresset Real Estate Partners," said Mark Balcius, Senior Vice President for Clarius Partners. "This project will enable the partnership to expand its footprint of Class A - Industrial space in the rapidly growing West Phoenix/Loop 303 market. The project team of Butler Design Group, Hunter Engineering, Layton Construction and representation by CBRE, along with the support of the City of Glendale and Epcor, have advanced the project rapidly to enable late 2021 construction commencement."
About Cresset Partners
Cresset Partners is a private investment firm focused on providing its investors with direct access to investment opportunities in private companies, real estate, and sponsor products. We focus on building outstanding, lasting partnerships by investing permanent capital, resources, and expertise to create sustainable value. We believe that long-term investing creates better alignment and reduces risk and inefficiencies, leading to better outcomes for all shareholders.
About Clarius Partners
Clarius Partners, L.L.C. is a full-service real estate investment and development company whose mission is to provide customized service to a select group of clients and partners. Clarius is headquartered in Chicago, IL, with approximately 10 million square feet of industrial, office, and medical projects totaling over $1.3 billion in various stages of development in Illinois, Arizona, California, Pennsylvania, Utah, North Carolina, and South Carolina. Through its deep industry knowledge and extensive network, the Clarius team aspires to deliver exceptional development results with quality, clarity, and integrity.
Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC are SEC registered investment advisors.
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