Real estate, Housing, Apartment, Property rights | September 27, 2020
Raising equity for commercial real estate projects is still very possible in this economic climate says Jared Cobert of Diligence Capital Advisors, the well established capital solutions firm based in Philadelphia, PA. Mr. Cobert sourced and closed on an equity transaction this past Friday September 25th for a 6 unit lavish apartment project in the coveted University City District of Philadelphia, PA. Philadelphia's "University City" is located at the easternmost portion of West Philadelphia directly across the Schuylkill River from Center City, and encompasses several Philadelphia universities such as the University of Pennsylvania, Drexel University, the University of the Sciences and the Restaurant School at Walnut Hill College. University City is Philadelphia's bustling, culturally diverse academic heart with cutting-edge exhibitions at the Institute of Contemporary Art, swanky eateries and casual bars that attract hip crowds.
REAL ESTATE TECHNOLOGY
Embrey | May 18, 2022
Embrey, a diversified real estate investment company based in San Antonio, Texas, has acquired the Arboretum Oaks apartment community. Located in Austin, Texas, the 252-unit property built in 1984, marks the first acquisition, and 25th asset that Embrey has either developed, owned, or operated in the greater Austin area. Embrey's nationally recognized, award-winning Embrey Management Services will take over property management duties at the community.
Located less than 15 minutes northwest of downtown Austin and five minutes west of The Domain, Arboretum Oaks offers numerous competitive advantages in terms of its accessibility, community amenities and walkable proximity to retail. Through the purchase of Arboretum Oaks, Embrey will be leveraging the explosive, pent-up demand for rental properties in a market that has added more than 80,000 jobs since 2016. Despite continued in-migration, low housing supply, and strong job creation, Austin's Arboretum area has seen only one apartment community developed since 2000.
This is a beautiful community with great access to the Arboretum, The Domain, downtown Austin, and a number of highly sought-after employers such as Apple, Amazon, and Facebook, to name just a few. We plan to fully renovate the property to bring it up to current market standards and renter expectations. Combining the property's prime location and remarkable bones with the red-hot rental demand of Northwest Austin makes this a terrific investment for our company."
Alex Sampson, Vice President of Acquisitions at Embrey
Fueled by the nation's leading job and population growth, the Austin area has one of the hottest apartment markets in the country. Asking rents are now up roughly 25 percent since the start of the pandemic, well ahead of the national average. Most recently, as of the first quarter of 2022, occupancy in Austin increased three percent to 96.4 percent according to Witten Advisors.
"This acquisition signifies another step in expanding Embrey's acquisition platform and capital base," says Sampson. "As a vertically integrated, diversified real estate investment company, we continue to seek acquisition opportunities like this to create value for our capital partners."
Embrey partnered with Black Salmon Capital on this acquisition with debt being funded by an affiliate of Heitman LLC, a global real estate investment management firm. Embrey and its partners were assisted in this transaction by Walker & Dunlop investment sales brokers Matt Pohl and Spencer Roy, as well as debt brokers Patrick Short and Tom Toland.
San Antonio-based Embrey is a diversified real estate investment company that owns, develops, builds, acquires and manages multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 44,000 apartments and over 6 million square feet of commercial property. Embrey is a leading developer in the multifamily sector, with more than 6,000 units under construction or in development.
REAL ESTATE TECHNOLOGY
businesswire | December 22, 2020
Berkshire Hathaway HomeServices Toronto Realty, a land financier intended for the present market and the group that carried Berkshire Hathaway HomeServices to Canada, is satisfied to report the expansion of Heather Hadden to its authority group. Heather and the Hadden Homes Team have joined Berkshire Hathaway HomeServices Toronto Realty viable Thursday, December 17, 2020, and will source office space to dispatch a Berkshire Hathaway HomeServices Toronto Realty office in a midtown area by Spring of 2021.
“Our goal has been to grow our leadership team with a focus on creating a motivational culture for our realtors,” said Mark Wadden, Co-Founder and CEO of Berkshire Hathaway HomeServices Toronto and West Realty. “Industry experts like Heather excel in every aspect of their business all while maintaining integrity and commitments to their clients. I am very excited to have Heather continue to grow her team under the Berkshire Hathaway HomeServices network and provide support and leadership to our Realtors.”
Heather Hadden has driven a noteworthy direction all through her profession and has withdrawn Chestnut Park Realty in the number two recognize this (year to date). Hadden keeps on driving the city as one of the most elevated netting Realtors in the Greater Toronto Area, with different back to back a long time in the top 0.1% on the Toronto Real Estate Board positioning of Realtors.
“I have worked with a few different top-level brokerages across Toronto during my career but never have I seen a brokerage as innovative and supportive as that of Berkshire Hathaway HomeServices Toronto Realty,” said Heather Hadden. “The leadership’s vision and execution of what a brokerage should be are impressive, to say the least, and I have never seen such a commitment to continuous improvement. I know this is where my team will call home moving forward and throughout our career.”
“Heather is one of the most decorated and respected agents in Toronto amongst her colleagues, with years of being a top performer,” said David Binns, Partner and VP of Professional Development. "The entire team at Berkshire Hathaway HomeServices Toronto Realty is elated to have Heather in the network and cannot wait to see what she does for the brokerage in 2021.”
“Both Mark and Blair have created an exciting and innovative formula to rapidly expand across the Ontario region," said Michael Jalbert, EVP of Global Business Development, Berkshire Hathaway HomeServices. “Their plan creates unique opportunities for top realtors to be part of something bigger in their career. They have already built one of the most respected leadership teams in the industry and I am sure this is just the start.”
Chris Stuart, CEO of Berkshire Hathaway HomeServices, applauded the addition. “This is a great move for both Berkshire Hathaway HomeServices Toronto Realty and Heather,” he said. “Heather is a skilled and experienced leader who is also a terrific mentor – guiding and inspiring real estate professionals. As important, her team is talented, dedicated and ready to serve the region.”
About Berkshire Hathaway HomeServices Toronto Realty
Founded in 2015, Berkshire Hathaway HomeServices Toronto Realty provides the most innovative and valuable services in the industry both for their clients as well as their Realtors. With a rapidly expanding team and the addition of Berkshire Hathaway HomeServices West Realty, the company has more than 120 real estate professionals and has earned a reputation for leveraging cutting-edge technology and modern marketing to provide the most valuable customer experience in real estate. Currently, the company services the Greater Toronto Area and has growth plans spanning most of Southern Ontario.