Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the promotion of Mike Aiken to Senior Vice President of Investments.

Aiken has more than 13 years of real estate experience and is responsible for leading the effort of Fogelman’s multifamily acquisition, through sourcing, evaluation, and closing of Fogelman’s real estate investments.

“Since joining our team in early 2018, Mike has done a tremendous job spearheading the growth of Fogelman’s investment holdings and enhancing our transactional platform,” says Mark Fogelman, President of Fogelman Properties. “We’re thrilled to recognize Mike’s success and look forward to his leadership under his expanded responsibilities.”

Before joining Fogelman in 2018, Aiken served as both the Director of Investments and Investment Manager in leading acquisition sourcing and disposition efforts at Bell Partners. During his time at Bell Partners, Mike completed more than $1B in acquisitions and dispositions within the Atlanta, Austin, Baltimore, Boston, Central Florida, Dallas-Fort Worth, Nashville and Washington, D.C. markets.

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 appointment of Peter Miklius as Acquisitions Manager.

Miklius will be based in the Atlanta corporate office and brings a demonstrated history of multifamily investment management experience to the newly created role at Fogelman Properties. The new acquisition manager will also work closely with the VP of Acquisitions and the transaction team in securing new investment opportunities throughout the Southeast, Sunbelt region and Midwest, as well as assisting in due diligence and closing transactions.

“Expanding the acquisition team with Peter’s exceptional experience and proven track-record made perfect sense for Fogelman,” Mark Fogelman, President of Fogelman Properties. “We’re thrilled to welcome our newest team member to the Atlanta corporate office as we grow investment holdings and enhance our transactional platform.”

The real estate professional joined Fogelman after serving on the investments team for Cortland Partners, where he oversaw the acquisition efforts for more than 2,600 units and $450M across the Atlanta metro market. Prior to Cortland Partners, Miklius served as an associate at Gabriel Holdings, an investment company focused on hospitality asset acquisitions. Miklius earned his bachelor’s from Purdue University and his MBA from Emory University.

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 that is acquisition activity grew more than 100% from 2018 to 2019, including more than 2,000 units across six multifamily communities over the past 12 months.

The Memphis, Tenn.-based company recently closed $135M in the first quarter of 2019 with the acquisition of Artesian on Westheimer, in Houston with DRA Advisors, and Crestmark Apartments in Atlanta with Thackeray Partners.

“This year we focused efforts on several key markets including Atlanta, Central Florida and major Texas metro areas” says Mike Aiken, VP of Acquisitions at Fogelman. “Specifically, we elevated our portfolio with acquisition targets that allowed our company to leverage its vertically-integrated operating team and long-term, local presence in these markets.”

With the expanded portfolio and target of an additional $200M in acquisitions for the remainder of 2019, Fogelman is one of the most active buyers in the country. Fogelman currently manages more than 28,000 units across 10 states, totaling more than $4B of managed assets. The company’s national portfolio has experienced an average occupancy of 95% in 2018 and projected revenue growth of 3%.

Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the appointment of Drew Taylor as the Senior Vice President of Asset Management.

Taylor brings more than 25 years of multifamily asset management and property management experience to the newly created role at the Memphis, Tenn.–based multifamily real estate services company. He will be a key player in driving the implementation of investment plans, tracking and maximizing the investment portfolio and collaborating across the property management, investment management and construction management teams. The new SVP of Asset Management will work closely with the executive team in overseeing Fogelman’s real estate investments and maximizing the returns of holdings.

“With the rapid growth of the Fogelman real estate investment portfolio over the past several years, we are thrilled to add Drew to our senior leadership team,” says Rick Fogelman, CEO of Fogelman Properties. “Drew offers the complete package with a deep understanding of the multifamily industry and decades of experience in asset management.”

The real estate professional joined Fogelman after serving as the SVP of Asset Management for LEDIC Realty and previously the EVP and Director of Asset Management for Mid America Apartment Communities (MAA). Taylor earned his bachelor’s from Vanderbilt University and MBA from Trevecca Nazarene University.