Trending Multifamily News
CAPREIT, a fully-integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the promotions of two associates, Dawn Coggins and Danielle Cooney.
Coggins was elevated to Senior Vice President of Property Management and Cooney to Vice President of Operations, both effective at the start of 2018. Coggins previously served as Vice President of the Mid-Atlantic Region and Cooney as an Assistant Vice President.
“Dawn and Danielle are invaluable pieces to CAPREIT, and each one brings a wealth of knowledge, experience and innovation to their duties within our company, as well as our communities,” said Andrew Kadish, president of CAPREIT. “We couldn’t think of two better, more deserving associates for these promotions. They have far exceeded expectations as strategic company leaders and managers, and I’m very pleased Dawn and Danielle will be taking on more responsibilities.”
In her new role, Coggins' responsibilities will include executing the oversight and operation management of CAPREIT’s entire portfolio. One of her main goals will be to promote optimal performance among property managers nationwide while providing strategic leadership and guidance for property operations, financial planning, product marketing and staff selection and management.
Coggins has been with CAPREIT for 24 years. Her former responsibilities as VP of the Mid-Atlantic Region included management and oversight of CAPREIT’s property management operations and activities within the specific market. She also has a CAPS (Certified Apartment Portfolio Supervisor) designation from the National Apartment Association.
As part of her new role, Cooney will further leverage her strategic leadership and operational oversight to design and deliver strategies to improve performance of the business. She will work diligently to uphold CAPREIT’s core principals and ensure the company practices uphold CAPREIT’s mission and unique brand to maximize asset performance. She will also oversee a portfolio of properties and have responsibility for maximizing property and team performance.
After joining CAPREIT in 2015, Cooney brought her expertise in senior management positions in multifamily property management to her Assistant Vice President property management role, where she flexed her firm grasp of site operations, portfolio management and compliance. Her multifamily accreditations, among others, include Certified Property Manager with the Institute of Real Estate Management (IREM), where she also previously served as a chapter president.
CAPREIT, a fully integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the grand opening of Nelson Kohl, a luxury apartment community in the Charles North neighborhood of downtown Baltimore.
CAPREIT will manage the 103-unit community, which was developed by partner SAA Ernst Valery Investments. Actor Wendell Pierce, best known for his roles on Suits and The Wire, is also a partner of Ernst Valery and participated in the ribbon cutting ceremony.
“Nelson Kohl’s design and presence are distinctive in a St. Charles neighborhood that is already brimming with culture and an artistic flare,” said Andrew Kadish, president of CAPREIT. “We’re ecstatic for the opportunity to manage this wonderful community in a wonderful city, and we look forward to providing an unmatched resident experience in the area. The location is incredible with its multitude of options within walking distance.”
As part of the Station North Arts and Entertainment District, the community sits within minutes of a wide variety of art galleries, music venues, movie theaters, cafés, restaurants and cultural options. Nationally prominent Maryland Institute College of Art is within a half-mile, and additional neighborhood attractions include Charles Theatre, Milk & Honey Market, yoga outlet Asana Roots, and distinctive cuisine options such as Bottega, Pen & Quill and Tapas Teatro.
Situated at 20 East Lanvale Street across from Penn Station, the community will feature a gallery wall highlighting local artists on the first floor. The art will reflect the neighborhood by incorporating themes from Charles North’s storied cultural past. In addition, many of Nelson Kohl’s resident events will be geared toward arts, music and theater. The community will also be in the center of the action for the annual Artscape Baltimore Festival each summer.
Nelson Kohl consists of studio, one- and two-bedroom homes with various floor plans. Community amenities include a rooftop terrace with breathtaking views of Baltimore, sky lounge, library, contemporary lobby and gallery, fitness center, digital package room, onsite parking and dog run. Residents also have access to bike storage.
Apartment interiors feature open floor plans with plank-style flooring, oversized windows, quartz countertops, stainless steel appliances, 42-inch custom cabinetry, in-unit washers and dryers, spacious closets, free cable/high-speed internet and tile flooring and brushed-chrome fixtures in bathrooms.
CAPREIT, a fully-integrated real estate operating company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has taken over management responsibilities of Barclay and Fairfax Court, a pair of garden-style apartment communities with prime access to Washington D.C.
Located in the Chevy Chase neighborhood near Downtown Bethesda, the communities feature a combined 175 apartment homes contained within three- and four-story midrises. The communities are flanked by meticulous landscaping and provide near-immediate connectivity to a vast array of dining, retail and cultural options.
“With a firm mission and track record of providing affordable housing across the country, CAPREIT is excited to manage the Barclay and Fairfax Court apartments with the goal of taking resident service to the next level and creating a place residents are proud to call home,” said Jay Wilson, asset manager for CAPREIT. “We’re fans of the Washington, D.C., metro area, as it continues to be one of the strongest markets in the country. Bethesda and the surrounding cities have experienced phenomenal growth, which we anticipate to continue.”
Situated at 4716 Bradley Boulevard, residents will have expedient access to Trader Joe’s, Landmark Theaters and The Shops at Wisconsin Place, an open-air retail destination anchored by Bloomingdale’s and Whole Foods. Barclay and Fairfax also are approximately two miles from Walter Reed National Military Medical Center, one of the most prominent military hospitals in the country. It employs a wide variety of medical professionals and boasts a building larger than 43,000 square feet.
The communities also sit near Interstate 495 and within minutes of the Metro, which both provide connectivity to Washington, D.C. and the employment sectors within and surrounding the metropolitan area. Although known for its prominence of government-related jobs, the D.C. area features a diverse job market with a steadily growing tech sector.
Barclay and Fairfax Court consist of studio, one- and two-bedroom homes. Community amenities include business center, fitness center, laundry facilities and high-speed internet access. Apartment interiors include walk-in closets, ample storage space and ceiling fans. Select homes at the smoke-free, pet-friendly communities feature private balconies.
CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced it has taken over management responsibilities of Rochester Highlands, a 504-unit affordable apartment community in southern Rochester.
Located at 47 Green Knolls Drive, Rochester Highlands is surrounded by some of northeastern New York's most notable and impactful economic drivers, such as Eastman Business Park, Rochester Institute of Technology, University of Rochester and Strong Memorial Hospital. The community also sits across from CityGate, a recently developed 45-acre mixed-use destination center.
"We are extremely excited to add Rochester Highlands to our third-party management portfolio, and this community has an excellent location that makes it very easy to get around the city and beyond," said Stephen Catarinella, vice president of acquisitions for CAPREIT. "Rochester is a great submarket for families, and the locale is one of the most commuter-friendly in the northern portion of the state."
Strong Memorial Hospital is within a half-mile of Rochester Highlands and employs 9,500 physicians and staff members. The community also offers convenient access to Interstate 390, which serves as a five-mile gateway to Greater Rochester International Airport, and connectivity to major thoroughfares such as Interstate 90 and Interstate 490.
The locale provides everyday-life convenience with nearby restaurants, RTS public bus transportation and stores, including a Costco and Walgreens. Nearby attractions include Highland Park, Rochester Museum of Art and Science, Seabreeze Amusement Park and Strong National Museum of Play. The shores of Lake Ontario and Finger Lakes Wine Country can be accessed within a one-hour drive.
Rochester Highlands consists of studio, one-, two- and three-bedroom apartment homes ranging from 451 to 875 square feet. Apartment interiors feature cable-ready setups, vinyl-plank flooring in living areas, linen closet and ceiling fans.
Existing community amenities include community clubhouse, on-site leasing office, laundry facilities and playground.
CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the acquisition of Madison Cypress Lakes, a 1,002-unit apartment community in the Tennessee suburbs of Memphis. The community will be rebranded as Waterview Apartments.
Situated less than 25 miles from downtown Memphis, the community offers easy access throughout the metro area via Interstate 240 and 69, and is a short drive from the Nonconnah Technology Corridor, the Poplar Class A Office Corridor and Memphis International Airport. CAPREIT will renovate the community and implement upgrades to the townhome-style homes.
“Waterview will provide the Germantown/Collierville area with quality affordable housing that is much needed in the submarket, and we plan to invest a significant amount of capital into upgrading the community,” said Brendan Majev, a senior acquisitions associate for CAPREIT. “Our intention is to contribute to the continued growth of one of Memphis’ top submarkets with updated, reputable homes. We are excited about the opportunity to provide renovations in a growing area, and are confident these upgrades will make an already affluent submarket even more desirable.”
CAPREIT’s planned renovations include asphalt and sidewalk repairs, exterior painting, landscaping, pool refinishing, siding replacement, new fitness equipment and an upgraded clubhouse. Existing amenities at the spacious, 22-acre community include multiple lakes with some including stocked fish, indoor and outdoor pools, three resident clubhouses, a spa, business center, fitness center and indoor sports courts.
Located at 6860 Quince Road, Waterview is situated moments from the Bill Morris Parkway, which has transformed the area into a burgeoning technology hub. In addition to the Nonconnah Technology Corridor, the site is within close proximity of professional employment opportunities throughout the Memphis metro area, including major employers such as AutoZone, World Technology Center and the world headquarters of FedEx. The site is located three miles south of the Poplar Class A Office Corridor, home to seven million square feet of office space.
The community also is within 1.5 miles of 800,000 square feet of vibrant shopping, dining and entertainments options. Additional nearby attractions include Elvis Presley’s Graceland home, Beale Street and the FedEx Forum, home of the NBA’s Memphis Grizzlies. An eclectic mix of specialty stores at The Shops of Saddle Creek is conveniently located within a five-mile drive, and outdoor enthusiasts can access Shelby Farms Park with a quick drive on I-240.
Waterview consists of 1- and 2-bedroom apartment homes ranging from 533 to 1,160 square feet. The community features diverse floor plans, spacious kitchens with white appliances, washer and dryer connections, wood-burning fireplaces, vaulted ceilings, built-in bookshelves, ceiling fans and private patios or balconies with scenic views.
SOUTHAVEN, Miss. – June 29, 2017 – CAPREIT, a national real estate development and investment company responsible for the ownership and management of more than $5 billion of multifamily assets, today announced the acquisition of Legacy Crossing, a 430-unit apartment community in the Mississippi suburbs of Memphis.
Situated less than 30 minutes from downtown Memphis, the community is close to the city’s primary thoroughfares and within a 15-minute drive of Memphis International Airport. CAPREIT will renovate the community and implement upgrades to select apartment homes.
“Legacy Crossing is an affordable community positioned on excellent property that is ripe to be improved,” said Brendan Majev, a senior acquisitions associate for CAPREIT. “We intend to invest a significant amount of money in order to better serve the local community. In doing so, it is our hope and belief that the company’s improvements to the property will make a positive impact on the local schools and children who attend them.
“A desirable community creates increasingly friendly surroundings, and our acquisition of Legacy Crossing allows a clear opportunity to improve the lives of our residents, which is CAPREIT’s core mission.”
CAPREIT’s planned renovations for Legacy Crossing include new cabinets, appliances and sheet vinyl flooring in living areas, kitchens, entryways and bathrooms, and upgraded countertops in select homes. Existing amenities at the pet-friendly community include a clubroom, three pools, multiple laundry facilities and complimentary parking.
Located at 7560 Chesteridge Avenue, Legacy Crossing is within minutes of Route 51, which is adjacent to Southaven Middle and High School. Nearby transportation arteries, including Route 61, Interstate 40, and Interstate 69 offer convenient access to professional employment opportunities throughout the Memphis metro area. Major employers include AutoZone, International Paper Co. and Federal Express (more commonly “FedEx”), Memphis’ largest company, with 30,000 local employees. The community is also a short drive from Interstates 55 and 240, the gateways to downtown Memphis.
Nearby attractions include the Southaven Towne Center, Arena at Southaven Expo Center, Casino Tunica, Snowden Grove Amphitheater, Tanger Outlet Mall, FedEx Forum and Landers Center (where the Memphis Grizzlies’ NBA Development League will launch in the fall of this year). Legacy Crossing is also a short drive from the historic Graceland and Mississippi River Park, which offers a bevy of various outdoor recreation activities.
Legacy Crossing consists of 1-, 2- and 3-bedroom patio-style apartment homes ranging from 711 to 1,063 square feet. The apartments feature vaulted ceilings with lighted fan, washer and dryer connections, central heating and air conditioning, spacious closets and extra outside enclosed storage area.