DEAL MAP

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 four senior-affordable apartment communities in Buffalo. 

The communities – Hertel Park, Walden Park, Trinity Tower and Parkview Apartments – are located within four miles of each other and contain a combined 373 apartment homes. Residents will enjoy expedient access to Buffalo-Niagara International Airport, Walden Galleria and several additional area attractions. 

“We’ve always been a proponent of quality, affordable housing and we’re thrilled to be a part of the Buffalo market,” said Leticia Palillero, acquisitions associate for CAPREIT. “Each of these four communities possesses a charm of its own, and we’re eager to implement our management strategies and help the fight for affordable housing in one of the largest cities in New York.”

The communities offer prime connectivity to attractions such as the Buffalo History Museum, Albright Knox Art Gallery and Buffalo Museum of Science. Walden Galleria, located in the nearby Cheektowaga neighborhood, provides a vast array of shopping, dining and entertainment options. The communities also are within a short drive of Interstates 90 and 190, which serve as the gateways to the metropolitan area. 

Hertel Park is situated at 1625-1643 Hertel Avenue and contains 138 apartment homes. Consisting of primarily one-bedrooms and 12 two-bedroom units, the community features three laundry rooms, a community room, library and pool table. 

Walden Park, located at 101 Bakos Boulevard, features a total of 126 one- and two-bedroom homes ranging in square footage from 550 to 650. Common-area amenities include a fitness center, business room, community room, lobby with fireplace and four laundry rooms. 

Trinity Tower is situated at 33 Linwood Avenue and consists of 83 studio, one- and two-bedroom homes ranging from 475 to 800 square feet. Community amenities include a large community room, social room with flat-screen television, library/meeting room, onsite laundry facility and elevators. 

Parkview Apartments is a smaller community consisting of 26 units. Based at 769 Best Street, the community features one-, two- and three-bedroom homes. 

 

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 acquisition of Timber Ridge, an affordable apartment community in northern Virginia. 

The community, which features 184 townhome-style homes, is situated just north of State Route 17 and within a short drive of Interstate 95. The latter serves as the gateway to metropolitan Washington, D.C. to the north and Richmond to the south. CAPREIT is implementing upgrades to select interior spaces while preserving the affordability of the community for working-class residents. 

“We’re thrilled to join the thriving Fredericksburg submarket and deliver a comfortable living experience without the overwhelming price tag, and we believe our upgrades to Timber Ridge will contribute to that cause,” said Jay Tucker, acquisitions associate for CAPREIT. “The community is surrounded by a healthy array of employment options and a sizable contingent of retailers, and the prime highway access puts all of that at the fingertips of our residents.”

Fredericksburg and the surrounding area continue to grow, as the high-cost D.C. market has pushed working-class citizens and several businesses beyond the edge of the urban core. Within Fredericksburg, residents will be situated nearby the Rappahannock River, the University of Mary Washington and several odes to the city’s rich Civil War History, including the four battlefields of Fredericksburg and Spotsylvania National Military Park. 

Situated at 3500 Goldenfield Lane, Timber Ridge is a two-story community adjacent to Lee’s Hill Golf Club. CAPREIT’s upgrades to many homes will include new appliance packages, revamped kitchen cabinets and countertops, and new bath, plumbing and lighting fixtures. 

Timber Ridge consists of two- and three-bedroom homes ranging from 1,156 to 1,440 square feet. Apartments are equipped with large floor plans, walk-in closets and full-size in-home washers and dryers. Community amenities include a business center, fitness center, clubhouse, swimming pool, children’s playground and laundry facilities. 

 

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. 

 

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