WASHINGTON, DC – Arcapita, the global investment management firm, announced that it has bought a privately-held portfolio of three senior living communities for a total transaction value of approximately $110 million in the metropolitan areas surrounding Washington D.C. and Atlanta. The properties will be managed by an affiliate of The Arbor Company, an experienced manager specializing in this sector.

The transaction follows Arcapita’s acquisition of three senior living communities for a total transaction value of approximately $87 million in Colorado earlier this year, building an approximately $200 million portfolio in the senior living sector in the United States.

The senior living sector is a strategic focus for Arcapita given its long-term investment return potential. In addition, Arcapita’s management team has significant experience in the sector, having previously bought, managed and exited from a series of senior living investments with a total transaction value in excess of $1.7 billion in the United States and United Kingdom.

Arcapita’s current US Senior Living portfolio now consists of six independent living, helped living and memory care communities offering a total of 506 units in the metropolitan areas surrounding Washington D.C., Atlanta, Denver and Colorado Springs. The properties are located in affluent suburbs of major US cities and are located in some of the largest and most economically attractive cities in the United States.

Atif A. Abdulmalik, Arcapita’s Chief Executive Officer, commented, “We see a lot of potential in the senior living sector. Our team has extensive experience investing in the senior living sector, having managed and successfully exited five senior living portfolios, consisting of over 74 properties, in the past. Previous investments both in the United States and United Kingdom have returned attractive IRRs and cash-on-cash multiples to investors. We are excited about the prospects of the latest addition to the portfolio and about working with The Arbor Company, a reputable senior living management company operating in this sector.”

Martin Tan, Arcapita’s Chief Investment Officer, added, “The senior population is the fastest growing demographic in the United States and the 65+ age group is expected to double in size by 2050. The supply of senior housing remains limited in certain sub-markets and the senior housing industry as a whole has outperformed multifamily, office and retail real estate sub-sectors to date. Through its experience in this sector, Arcapita has selected The Arbor Company, an Atlanta-based manager of senior living communities, to oversee the management of its latest acquisition given its over 30 years of experience in the Eastern and Southeastern regions of the United States.”

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ARLINGTON, TX – Eagle Property Capital Investments announced the acquisition of Central Park, a 331-unit multifamily property located in Arlington, Texas within the Dallas / Fort Worth Metropolitan Area. The Property was bought by EPC Multifamily Partners III, a private investment vehicle raised and managed by EPC. The Property represents the fifth acquisition for Fund III. 

DFW has one of the strongest fundamentals in the United States in terms of population, job, household income, and economic growth. The Property is in close proximity to abundant employment, recreation, shopping and entertainment venues. It is conveniently located less than 1.8 miles from the Arlington medical cluster, 2.0 miles from Arlington’s retail hub (which includes Arlington Highlands and Parks at Arlington Mall), 1.6 miles from University of Texas at Arlington and just 20 miles from the major employment centers of Downtown Fort Worth and Downtown Dallas.

EPC will do its proprietary professional management standards to reposition the property as “best in class” and plans to make improvements and additional capital investments to exteriors, implement a thorough interior upgrade program with superior finishes and appliances and improve amenities. EPC will rebrand the community as Montecito Club Apartments within the first three months of ownership in conjunction with the plotted investments and Property repositioning.

The acquisition was partially financed by an agency mortgage loan with a ten-year fixed interest rate, utilizing an innovative green financing program where EPC commits to reducing water or electricity consumption at the Property by implementing green initiatives.

“The acquisition of Central Park, soon to be Montecito Club Apartments, is another example of the opportunities we have seized this year to add quality, well located assets to our portfolio at prices well below replacement cost”, said Gerardo Mahuad, Partner at Eagle Property Capital Investments. “We are excited to be offering a variety of high quality apartments and price points in different areas of DFW “, Mr. Mahuad continued.

Fund III buys repositions, rents and manages a portfolio of quality class B and C multifamily apartment communities in top growth metropolitan areas of the southern United States. With the acquisition of the Property, Fund III now has a portfolio of 1,434 apartment units.

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ATLANTA, CA – Emma Capital Investments announced the completion of the acquisition of The Chelsea Apartments (formerly Steeple Chase), a 306–unit garden style multi-family apartment community located at 5940 Singleton Road, Norcross, (submarket of Atlanta), Georgia at a buy price of $26,010,000. This is Emma Capital’s 20th buy in the United States and brings Emma Capital’s total number of units bought to date to approximately 5,000 apartment units.

The Chelsea Apartments community is located in South Gwinnett on Singleton Road, 0.5 miles northeast of Jimmy Carter Boulevard and 1.5 miles from I-85, which provides seamless access to all of Gwinnett County and metro Atlanta.  The Property enjoys more than 1,700 feet of frontage on Singleton Road with brilliant drive-by traffic and visibility.  Gwinnett County is the second most populous county in Georgia with over 860,000 people as well as one of the fastest growing counties evidenced by an nearly 50% population increase since 2000.

The Property was built in 1984 and is situated in 23.15 acres featuring a mix of 306 residential units in 20 two-tale buildings. It offers 6 different floor plans made up of 113 One-bedroom units, 169 Two-bedroom units, and 24 Three-bedroom units, averaging 956 square feet per unit. The community features a resort-like swimming pool, clubhouse, business center, fitness Center, clothes care Center, picnic/grill Area, sport court and gorgeous landscaping. The property has a strong history of stable occupancy. 

“We are pleased to add The Chelsea Apartments to our growing portfolio in the Greater Atlanta Area,” stated founding Partner and Co-Owner Haya Zilberboim. “We are rebranding the property and will be updating its brilliant amenity package. The property has seen strong organic rent growth over the past two years, with only 25% of the units being renovated. We see the potential to further increase unit rents through a comprehensive unit renovation program in the remaining units.  We aim to continue to deliver a strong value proposition to all of our current and potential tenants.”

“This is our 11th acquisition in the Atlanta area in the last 24 months,” added Partner and Co-Owner Oz Cohen. “Our ownership of approximately 3,000 units in MSA Atlanta, provide us with a very strong base to continue our rapid expansion.  We are ending 2016 on a very strong note and look forward to further expansion in 2017 and beyond.”

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