DALLAS, TX – Noel Management, a leading multifamily housing operator focused on acquiring, managing, upgrading, and selling large-scale multifamily housing assets since 1985, announced today the launch on a new division to oversee all management functions for multifamily owners across select Texas markets.
Noel Management specializes in the full range of property management services, including acquisition, advisory, maintenance, lease-up, and marketing. With professional relationships spanning decades in the multifamily housing space, Noel Management offers apartment owners a competitive advantage through offering vertically integrated services designed to increase revenue and reduce operating costs.
The core leadership team at Noel Management consist of Lenny Licht, CEO and Stephanie Allen, Vice President of Operations, who together bring more than 75-years of industry experience to the table. Mr. Licht started his career with the Henry S. Miller Company, during his tenure as Assistant to the President, and Vice-President of the Multifamily Division for the Henry S. Miller Management, the division grew units under management seven-fold. Mr. Licht funneled this expertise into his own brainchild, Noel Management. Allen is an industry veteran with over three decades of experience in all aspects of property management, including acquisitions, dispositions, new construction, lease-ups, and value add opportunities.
The firm s success lies in its proficiency in anticipating market trends and developing a unique, aggressive strategy of capitalizing on growing in-place cash flows and optimizing expenses. Historically, the company has been successful in operating properties at approximately $300 per unit less than competitive management firms through a formula of reducing controllable expenses. Since its inception, Noel Management and its affiliates have owned, managed, brokered, and financed over 10,000 multifamily units, totaling over 1.1 billion dollars in value.
Noel Management is also leveraging the latest technology to transform cost structures, reduce human intervention and redundant tasks. The firm is deploying a leading edge AI-leasing platform by 365 Connect, which is designed to mitigate time on market for vacant units through automating the entire leasing process, giving the company the ability to deliver leases for signature and collect go-in fees within 60 seconds of an applicant s approval around the clock.
Lenny Licht, CEO of Noel Management, stated, “With our tract record of outperforming competitive properties in the markets we serve through focusing on maximizing revenues and prudently managing expenses, now is the perfect time to bring our services to market, especially with so many multifamily owners struggling to navigate today s changing economic headwinds. We look forward to executing our game plot and delivering exceptional returns for our managed portfolio clients.
Noel Management will start onboarding managed communities starting in March. Management services will include operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing, and resident retention. More information is available at www.NoelManagement.com

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WILMINGTON, NC – Middleburg Communities announced it has closed on an approximately 30-acre land parcel located at the intersection of S 17th Street and Independence Boulevard in the coastal city of Wilmington, where it will develop a dynamic build-to-rent community, Hamlet Barclay West. The 280-unit neighborhood development will be located across the street from The Pointe at Barclay, Midtown Wilmington s premier dining and entertainment destination, and will feature a mix of cottages, duplexes and townhomes.
Wilmington s explosive growth over the years has resulted in strong demand for high-quality, build-to-rent communities like Hamlet Barclay West, stated Alexi Papapieris, Senior Vice President of Development for Middleburg s Carolinas Region. We are excited to break ground on this project and deliver a product that meets the needs of the market and offers a lifestyle that is coveted by individuals and families alike.
Hamlet Barclay West, situated less than 20 minutes from nearly everything Wilmington has to offer, including Historic Downtown Wilmington, Wrightsville Beach, Carolina Beach, the University of North Carolina-Wilmington and all major employers, will offer the benefits of traditional single-family living without the requirement of a down payment or property maintenance. The community will feature a neighborhood-style design that is characterized by tree-lined streets, pocket parks and shared greenspaces, while all units will have spacious layouts, private entries and backyards.
The amenity-rich development will offer a variety of one-, two- and three-bedroom floorplans, with all units featuring high-quality interior finishes, such as quartz countertops, stainless steel appliances, shaker wood cabinets, tile backsplashes, and luxury vinyl plank flooring. What s more, the community will have numerous amenities throughout, including a clubhouse with a resort style pool and fitness center, electric vehicle charging stations, a dog park, a pet spa and more.
Wilmington s strong underlying fundamentals and rapid growth are illustrative of Middleburg s investment criteria and the cities it looks to invest in throughout the Sunbelt. Wilmington s economy is driven by industry leaders in healthcare, education and manufacturing including General Electric, Verizon, Duke Energy, Novant Health, Wilmington Health, UNC Wilmington, Cape Dread Community College, Pharmaceutical Products Development, Corning and The Port of Wilmington.
According to Austin Knapp, Partner and Senior Managing Director of Development, Wilmington is a city that we project will continue to experience robust population inflows and investment activity over the long-term as it offers the charm, quality of life and employment drivers that make it an ideal place to live, work and play.

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PEABODY, MA – Trammell Crow Residential (TCR), the multifamily development platform of Crow Holdings, announced construction has commenced on its latest Alexan community, a 180-unit, luxury multifamily residence in Peabody, Massachusetts. TCR will serve as both the developer and general contractor on the project.
Alexan Peabody, a four-tale, luxury multifamily development, will be located at 128 Newbury Street along Route 1. Construction completion is anticipated for Q4 2025. Alexan Peabody will offer both market-rate and affordable studio, one-bedroom, two-bedroom, and three-bedroom units. Permitted as a 40B development, 25% of the units will be allotted as affordable housing at 80% of Area Median Income.
Each unit will be equipped with stainless steel appliances, wood-style plank flooring, in-unit washers and dryers, and spacious walk-in closets. Additional first-class amenities include a resort-style pool, outdoor courtyards, grilling stations, a state-of-the-art fitness facility, a business center, and a resident event room complete with a gourmet kitchen, gaming room, and library.
Ideally situated along Route 1 just one mile north from I-95/Route 128, Alexan Peabody will provide residents convenient commutes to the region s largest employment corridors in Boston, Cambridge, Burlington, and Waltham. Nearby lifestyle centers including MarketStreet Lynnfield and Northshore Mall which will provide plentiful dining and entertainment options for residents after work and on weekends.
Alexan Peabody provides much-needed market-rate and affordable housing to Boston s North Shore. The development of the site will beautify a previously clear-cut parcel of land, and we re appreciative of the cooperative working relationship with the neighbors and the City of Peabody that helped make this project possible, said Andy Huntoon, Managing Director, Northeast Division of Trammell Crow Residential. We believe there is an incredible opportunity to continue to meet Greater Boston s housing demand while making jobs and providing solid risk-adjusted returns for our financial partners.
Last year, TCR announced the groundbreaking of Alexan Waltham, a 210-unit luxury multifamily community in Waltham, Massachusetts, slated to be completed in Summer 2025. With the addition of Alexan Peabody, TCR s Northeast apartment portfolio has more than 1,600 apartment units in various stages of development.

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