ATLANTA, GA – CF Real Estate Services, a leader in the investment, development, and management of multifamily properties across the country, has been awarded property management of the 484-unit Moncler Isles by the purchaser a unit of Royal Imperial Group of Chicago.
Upon the completion of the sale, Moncler Isles was rebranded as Atwater at Westchase. The asset, located at 6158 Beacon Isles Drive Tampa, FL, is a high-demand location in Tampa s sought-after Westchase neighborhood.
The property s location offers superior connectivity to all of Tampa s major economic drivers. Westchase is one of Tampa s prime locations and offers connectivity to Downtown Tampa CBD, University of South Florida, Citrus Park, Westshore Business District, and MacDill Air Force Base.
The new addition of Atwater at Westchase to the CF portfolio complements our strategy of managing high-quality assets in rapid growth markets. According to Bloomberg, the Tampa market has consistently been ranked top in the Southeast for net migration and is ranked third in the Southeast for 10-year job growth in the United States. Continued growth in this market, places us at an advantage and allows us to expand our footprint in the Florida marketplace, states Brett Finkelstein, CEO, of CF.
Atwater at Westchase presents a unique value-add opportunity; the renovation scope includes upgraded appliances, the addition of in-unit microwaves and washers/dryers, countertops, upgraded lighting package, and new flooring throughout. Additional amenity enhancements include the expansion of the two Club Houses, Fitness Center, Summer kitchen/fire pits the addition of a Business Center, and a new Pet Park. Atwater at Westchase offers studios, one-bedrooms, and two-bedroom apartments and spans more than 27 acres.

Powered by WPeMatico

WATERSOUND, FL – The St. Joe Company and HomeCorp announce the construction of an additional 120 apartment homes at Pier Park Crossings in Panama City Beach, Florida. These apartment homes are currently under construction and once complete will bring the total number of units in Pier Park Crossings to 360.
In June of 2018, St. Joe and HomeCorp started the construction of the first phase of apartment homes at Pier Park Crossings located on North Pier Park Drive adjacent to Frank Brown Park. Plans for the initial phase called for 240 apartment homes. Currently, 192 of these units are complete and nearly 100% leased. Plans call for the remaining units to be completed in December.
Demand for high quality apartment homes at Pier Park Crossings has been extremely strong since we announced the first phase of the project, said Dan Velazquez, Senior Vice President of Commercial Real Estate for St. Joe. We chose to commence construction on a second phase while the initial 240 units are being finished in order to keep up with the demand.
Pier Park Crossings offers one, two and three bedroom units featuring nine-foot ceilings, screened balconies, a washer/dryer and granite countertops. Community amenities include a zero-entry saltwater swimming pool, 24-hour health and fitness center, a theater room and children s playground. Included in the plans for the second phase of construction are an additional zero-entry saltwater swimming pool and an amenity center.
The response that we ve seen at Pier Park Crossings from prospective tenants has been very positive, said Herbert Scheuer, Principal of HomeCorp. Given the demand for high quality apartment homes in Panama City Beach, now is the right time to start construction on these additional 120 units as leasing activity continues to be very strong.
Site work on the second phase is currently underway. Plans call for these apartment homes to be available for lease in late 2020.

Powered by WPeMatico

PHILADELPHIA, PA – Owned and controlled by Christian Dalzell and Mukang Cho, Counter Capital Management announced that it closed the buy of the Shirt Corner Apartments. Ideally located on the northeast corner of Market Street and 3rd Street in the heart of the Historic Ancient City, Counter Capital bought the Property for $22 million.
The buy of the Shirt Corner Apartments represents our next, more refined, step in a methodical process of constructing a best-in-class portfolio of residential properties throughout Center City, said Christian Dalzell, Managing Partner at Counter Capital. In less than 30 months, we have constructed a portfolio of nine newly built or re-developed properties located in the middle of second largest central business district in the US. With the closing of Shirt Corner, Counter Capital will resume leveraging its relationships to identify new acquisition opportunities in Philadelphia as well as in other urban centers that meet our proprietary investment criteria.
The Property, which underwent a complete ground-up redevelopment, was delivered in July 2015. The recently built property is comprised of 62 well-appointed apartments and one 1,300 square foot retail unit leased to Snap Kitchen on a long-term basis. All apartments feature open floor plans, large windows to accommodate an abundance of natural light, high-end kitchens with stone countertops and subway tile backsplashes, stainless steel appliances, modern bathrooms and ample closet space. Counter Capital plans to unlock incremental value by enhancing the Property s operations, lowering costs and improving the amenities offered at Shirt Corner by pursuing strategic capital improvement projects.
This acquisition further advances Counter Capital s strategy of acquiring a cluster of high-quality, exceptionally well-located multifamily and mixed-use properties throughout Center City – a submarket defined by strong employment and demographic fundamentals, said Mukang Cho, Managing Partner at Counter Capital. The Property benefits from its attractive location in the middle of Ancient City s vibrant live-work-play environment and in close proximity to the 2nd Street subway station and several attractions and landmarks including Penn s Landing, Christ Church, Independence National Park and the Liberty Bell, to name a few. Moreover, the lack of new apartment supply coming online is a net positive for the Property.
Since August 2017, Counter Capital has deployed approximately $109 million acquiring nine properties located in Center City, making it one of the of the area s most active buyers of multifamily and mixed-use properties. In addition to the Shirt Corner Apartments, Counter Capital s Center City portfolio includes 1501 Locust, The Bradford, Queens Village Lofts, 1311 Spruce Street, 1310 Spruce Street, Keppoch House (formerly known as Waverly Court), 514 South Street and 1430 South Street.

Powered by WPeMatico