Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, announces the acquisition of Appling Lakes, a 312-unit apartment community in Memphis, Tennessee. 

Built in 1997, Appling Lakes features one, two and three-bedroom apartment homes with rental rates currently ranging from $1,163-$1,678. The recently acquired property is 94% occupied and will be managed by Fogelman. Fogelman’s investment plan entails a full renovation of the unit interiors, clubhouse and amenity areas.

“We’re thrilled to announce the acquisition of Appling Lakes in Memphis, Tennessee,” says Mike Aiken, SVP of Investments at Fogelman. “Memphis continues to be one of our top-performing markets and has seen strong in-migration patterns over the past six months. We’re excited to expand our hometown footprint and continue investing in the community.”

Fogelman acquired Appling Lakes through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 36 multifamily communities totaling more than 11,000 apartment homes and $1.5B in asset value. The current Fogelman-DRA portfolio now includes more than 5,600 apartment homes spread across Tennessee, Georgia, Kansas, Florida, Texas and North Carolina.   

Headquartered in Memphis since 1963, Fogelman Properties now manages 96 multifamily communities across the Southeast and Sun Belt regions. The company has grown from a local family-owned business to a leader in the multifamily industry, overseeing more than $5B in asset value. Fogelman and its investment partners aim to acquire $300M+ in multifamily assets in 2022. 

For more information, visit www.applinglakesapts.com. 

About Fogelman 

Fogelman Properties (Fogelman) is one of the country’s largest and most experienced privately-owned multifamily investment and property management companies. As a fully integrated company, Fogelman specializes in multifamily acquisitions, property management, construction management, and asset management. Nationwide, Fogelman operates 96 multifamily communities totaling more than 29,000 apartment homes across 13 states in the Southeast, Southwest and Midwest. Fogelman was recently named a top 10 multifamily property management firm by J Turner Research, based on their Online Reputation Assessment (ORA) score, and a top 30 company by Multi-Housing News. For more information about Fogelman, please visit www.fogelman.com or follow us on Facebook, Twitter and Instagram. 

Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce 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-acquired community is 93% occupied and will be managed by Fogelman.

Fogelman and LIV Development acquired The Edison through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 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.”

About Fogelman

Fogelman Properties (Fogelman) is one of the country’s largest and most experienced privately- owned multifamily investment and property management companies. As a fully integrated company, Fogelman specializes in multifamily acquisitions, property management, construction
management, and asset management. Founded in 1963, Fogelman operates 88 multifamily communities totaling 28,000 apartment homes spread across 10 states in the Southeast, Southwest
and Midwest. For more information about Fogelman, please visit www.fogelman.com or follow us on Facebook, Twitter and Instagram.

Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, announced the acquisition of Fields Waterford Point, a 334-unit multifamily community located in Lithia Springs, Ga.

Developed in three phases from 1989 to 1992, Fields Waterford Point offers one, two, and three-bedroom apartment homes with rental rates ranging from $750 to $1,300. The newly acquired property will undergo a planned rebrand to 670 Thornton in conjunction with community upgrades, including renovations to all unit interiors and community enhancements across the common area amenities. 

Fogelman acquired Fields Waterford Point through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 31 multifamily communities totaling more than 10,000 apartment homes, with an aggregate value of more than $1 billion.

"The asset was previously performing below the market occupancy level. We're now off to a strong start and have experienced meaningful growth in the first 45 days of ownership, despite closing this transaction during the pandemic,” says Mike Aiken, SVP of Investments for Fogelman Properties. “670 Thornton marks our fifth acquisition in the Atlanta market in the last 18 months. It’s another opportunity for our operational team to enhance asset performance as part of the repositioning strategy for the community.”  

Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of two communities: Lakeside at Arbor Place, located in the west metropolitan Atlanta suburb of Douglasville, Ga., and Retreat at Steeplechase, located in Houston, Texas.

Built in two phases in 1988 and 1996, Lakeside at Arbor Place is a 246-unit apartment community located in Atlanta’s most active commercial and logistics hub within minutes from downtown, Cumberland-Vinings and Hartsfield-Jackson International Airport. The community is 96% occupied and offers one, two, and three-bedroom apartment homes. Lakeside at Arbor Place will be managed by Fogelman with rental rates ranging from $904 to $1,385. The community is expected to receive full renovations to unit interiors, the clubhouse and the fitness center, in addition to landscape upgrades.  Lakeside at Arbor Place was acquired in a joint venture with Fogelman and Dallas-based company, Thackeray Partners. The closing marks the third acquisition for the Fogelman-Thackeray partnership in the last year and grows Fogelman’s Atlanta portfolio to more than 4,700 units.  

Built in 1998, Retreat at Steeplechase is a 390-unit resort-style apartment community located in northwest Houston and minutes from FM 1960, Willowbrook Mall and the West Houston Energy Corridor. The community is 94% occupied and offers one, two, and three-bedroom apartment homes. Retreat at Steeplechase will also be managed by Fogelman. As part of the investment plan, Retreat at Steeplechase will receive upgrades to the unit interiors, exteriors, clubhouse and pool area. Fogelman acquired Retreat at Steeplechase through a joint venture with New York-based company, DRA Advisors. The closing marks the third acquisition for the Fogelman-DRA Advisors partnership in the last year and grows Fogelman’s Houston portfolio to more than 1,300 units.  

With the September closings, Fogelman’s 2019 investment activity surpassed 2,000 apartment homes totaling more than $267 million in investment activity.     

“We are thrilled to add both Lakeside at Arbor Place and Retreat at Steeplechase to our growing portfolios with Thackeray and DRA Advisors,” says Mike Aiken, VP of Acquisition at Fogelman. “Both communities are located in prime submarkets with strong economic outlooks and excellent access to sought-after school systems and nearby employment corridors. As active investors and experienced property managers, we look forward to the continued relationship expansion with two long-time partners.”

Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Ashford East Village, a 371-unit multifamily community located in East Atlanta Village.

The community is 95% occupied and offers one, two and three-bedroom apartment homes ranging from $900 to $1,375 per month. The newly-acquired property is expected to undergo a rebranding and a mix of amenity area improvements. In connection with the investment, enhancements will emphasize a modern fitness facility and the continuation of interior unit renovations including the installation of quartz countertops, vinyl plank flooring and upgraded plumbing fixtures.

Fogelman acquired Ashford East Village through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 28 multifamily communities totaling 9,150 apartment homes, with an aggregate value of more than $915 million. This is the third acquisition for Fogelman in 2019, which now totals 1,665 units and more than $184M in investment activity for the year. 

“Investment and revitalization continues to accelerate in the infill East Atlanta neighborhoods as residents are drawn by a mix of urban amenities such as top rated restaurants and entertainment options including the BeltLine.” says Mike Aiken, VP of Acquisitions at Fogelman. “Ashford East Village is uniquely positioned to benefit from the growing residential demand near East Atlanta Village for high-quality housing at a discount to new construction nearby.”    

Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Artesian on Westheimer, a 660-unit multifamily community located in Houston.

Built in two phases between 2006 and 2009, the community is 92% occupied and offers one, two, and three-bedroom apartment homes ranging from $1,066 to $1,719 per month. The newly-acquired property is expected to receive upgrades to unit interiors in connection with the investment and community enhancements across the common area amenities including the creation of a market-leading fitness facility. 

Fogelman acquired Artesian on Westheimer through a joint venture with New York-based DRA Advisors. Since 2003, the Fogelman-DRA partnership has acquired 27 multifamily communities totaling more than 8,800 apartment homes, with an aggregate value of more than $870 million.

“Artesian on Westheimer presents a great opportunity to expand our partnership’s presence in West Houston, particularly within a neighborhood that serves both the Energy Corridor and Westchase employment markets,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties. “The homes are well suited for young families and professionals with distinctive ‘big house’ unit designs including large floor plans and attached garages. The unique layouts often serve as a key differentiator compared to nearby properties.”

About Fogelman

Fogelman Properties (Fogelman) is one of the country’s largest and most experienced privately- owned multifamily investment and property management companies. As a fully integrated company, Fogelman specializes in multifamily acquisitions, property management, construction

management, and asset management. Founded in 1963, Fogelman operates 88 multifamily communities totaling 28,000 apartment homes spread across 10 states in the Southeast, Southwest,

and Midwest. For more information about Fogelman, please visit www.fogelman.com  or follow on Facebook, Twitter and Instagram.

About DRA Advisors

DRA Advisors is an investment advisor specializing in real estate investment and management services for institutional and private investors. DRA has over $9.7 billion in assets under management as of December 31, 2018.  Since 1986, DRA's focus has been consistent: conservative, value-added real estate investments in the office, retail, multi-family and industrial sectors in the United States. DRA's acquisitions since inception include more than 1,600 properties valued at over $30 billion.  For more information about DRA, please visit www.draadvisors.com.