FORT MYERS, FL – Fogelman Properties, one of the country s largest, privately-owned and fully integrated multifamily investment and property management companies, announced the acquisition of The Edison, a brand-new 327-unit A+ multifamily community located in Fort Myers, Fla.
Completed in 2020, The Edison offers one, two and three-bedroom apartment homes with rental rates ranging from $1,395 to $2,095. The newly-bought community is 93% occupied and will be managed by Fogelman.
Fogelman and LIV Development bought The Edison through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has bought 33 multifamily communities totaling more than 11,000 apartment homes, with an aggregate value of more than $1.5 billion.
We re thrilled to further expand our longstanding partnership with both DRA Advisors and LIV Development and enter the Fort Myers submarket with the highest quality multi-family community in the MSA, says Mike Aiken, SVP of Investments for Fogelman Properties. Southwest Florida continues to benefit from national migration patterns favoring the Sunbelt, with the lower cost of living coastal areas seeing outsized growth.

Powered by WPeMatico

SAGINAW, TX – SilverPoint Senior Living, a senior living management company, and Journey Capital, a senior housing development company, have broken ground on the Edition Senior Living, a new, boutique independent living, helped living and memory care community – to the heart of Saginaw, Texas.
The development will offer 93 senior living residences on 6.12 acres. Consisting of 22 Independent Living Cottages, 54 units of Helped Living, and 19 units of Memory Care, this will be the first Helped Living and Memory Care Community within the City of Saginaw.
The will mark the fourth collaboration and partnership between SilverPoint and Journey Capital. Edition of Saginaw will offer deluxe amenities and the maintenance-free lifestyle that today’s active seniors demand. Residents will delight in: Private residences, Resort-quality amenities, Concierge-style services, Chef-prepared meals, and 24/7 professional care.
“We’re thrilled to be the first Senior Living Community within Saginaw,” said Anand Patel, of Journey Capital. “Saginaw is a fantastic thriving city, with lots of exciting developments happening, and we are proud to be a part of it.”
“Our goal at SilverPoint is to make each resident’s day better than the day before. We cannot wait to make a difference in the lives of seniors and their loved ones in Saginaw,” said SilverPoint CEO Shawn Corzine. Passionate about delivering exceptional caregiving in a warm, nurturing environment that feels like home, SilverPoint introduces its distinct Engaged Life Program. The Engaged Life Program ensures memorable experiences, purposeful living, and flourishing physically. “SilverPoint believes that every resident needs to have a sense of purpose that will help them live a more abundant and fulfilled life and give a reason to get up every morning and make a difference,” Corzine said.
“We have a fantastic vision for Edition of Saginaw,” Narayan Patel said of Journey Capital. “The community will provide the lifestyle that seniors deserve – one where moving in feels like a continuation of the life they have built for themselves but with the added benefits of personalized care, community amenities, and unmatched service.”

Powered by WPeMatico

NEW BRAUNFELS, TX – Imprint Property Group (IPG), a premier, boutique developer and operator of active adult communities, today announced it has broken-ground on its third active adult recreational community in Texas.
Larkspur at Creekside, a spacious 184-unit, amenity and activity-rich community being made in the San Antonio suburb of New Braunfels, signifies the first of a series of projects in a joint-venture partnership with Batson- Cook Development Company (BCDC), an Atlanta-based subsidiary of Kajima Corporation, one of the oldest and largest developers in Japan.
We are excited to launch Larkspur at Creekside, our third generation Larkspur 55+ branded community with Batson- Cook Development Company, says Noah Drever, founder and CEO of Tiburon, CA-based IPG. Our vertically integrated partnership is well-positioned to build out our immediate development pipeline and further elevate Larkspur as a premiere boutique 55+ active adult national brand that is a total departure from the senior living sector as we know it today.
The 9-acre community will be a major anchor of the master-plotted New Braunfels Town Centre, a 400-acre community located 32 miles northeast of San Antonio and 48 miles southwest of Austin. Larkspur at Creekside sits directly next to a 1.81-acre green space and is adjacent to the $150 million Resolute Health Hospital and Wellness Center campus, and has direct access to over one million square feet of Class A retail.
Larkspur at Creekside will feature 32 two-bedroom private cottages as well 152 apartments in the main building. Designed for people 55-years-ancient and up who want a carefree lifestyle in a location that s ‘close-to-everything-vital, it is a highly flexible, amenity-rich community that could easily be mistaken for a five-star hotel that also has innovative resident engagement programs that focus exclusively on research-based wellness, health, and enriching social experiences, clarifies Drever.
In line with IPG s Larkspur strategy, the property will boast Class-A finishes and 15,000 square feet of amenity space including a Fantastic Room, a Show Kitchen for weekly food network inspired events, oversized 7-foot wide corridors, three elevator banks, individual fitness center, group fitness center, arts and crafts room, pub, game room, movie theater, salon, conditioned corridors, lap pool with water aerobics section, hot tub, pickleball court, and bocce ball court.
The average unit size is 1,000 square feet and each unit features full kitchens, quartz counter tops, glass walk-in showers, oversize oval tub, décor LED lighting, designer cabinetry, vinyl plank flooring, noise dampening walls to eliminate noise transfer, and a private balcony with a view.
Just 10 miles north of Larkspur is Kissing Tree, Brookfield Residential s luxury, high-end, for-sale 55+ housing development consisting of 3,200 homes. We aim to provide our residents with the same amenity-rich lifestyle but at an affordable rental price for those who no longer want to take on the burden and responsibility of home ownership, property taxes, mortgage, maintenance, landscaping, etc., says Drever.
IPG currently owns and operates two other Larkspur communities in Allen, TX and Pearland, TX which the firm also developed from the ground-up. With an in-house property management team, IPG prides itself on expertise in the niche asset class of active adult rental communities.
We are always searching for the next progressive resident activity to add to our tried, right and tested program. Our goal is simply to provide the most exciting and enriching lifestyle at a financially comfortable price point, Drever adds.
Larkspur communities offer rents that are a percent discount to traditional independent living. Our residents are questioned to choose between continued homeownership and full-service independent living. Larkspur 55+ is the economic option among this realistic set of choices and it also allows them to take advantage of our rich programming, amenities, and activities.
Larkspur at Creekside is expected to open its doors in the summer of 2022. IPG is already in pre-development on its fourth Texas Larkspur community in Round Rock, TX with plans to expand Larkspur communities into New Mexico, Arizona, Nevada, and Georgia.
We at Batson-Cook Development Company are excited about the opportunity to partner with Imprint Property Group in the development of what is to be a special project in New Braunfels, said Litt Glover, president and CEO of BCDC. The Larkspur projects made by IPG are premier 55+ active adult communities and the location for this new offering is perfect for the product. We have been extremely impressed with the professionalism and talent of our new partners, and we look forward to a long programmatic relationship with the IPG team.
Amegy Bank and Quick Preferred Equity are providing financing, along with IPG and BCDC. HEDK Architects of Dallas is the architect, and Godfrey Construction Company of College Station, TX is the general contractor.

Powered by WPeMatico