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.

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 Crestmark Apartments in Douglasville, Ga.

 

Developed in two phases in 1992 and 1994, Crestmark Apartments is a 334-unit garden-style community that offers one, two and three-bedroom apartment homes. The newly-acquired property is 98% occupied with rental rates ranging from $800 to $1,400. Crestmark Apartments is expected to receive enhancements to common area amenities and upgrades to unit interiors in connection with the investment.

 

Fogelman acquired Crestmark Apartments through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the fourth acquisition for the Fogelman-Thackeray partnership in the last six months and grows Fogelman’s Atlanta portfolio to more than 4,500 units. Since 2015, the Fogelman-Thackeray partnership has acquired nine multifamily communities totaling more than 2,400 units, with an aggregate value of more than $300 million.

 

“Crestmark fits nicely within our partnership’s strategy: to acquire properties in middle tier price point submarkets with strong fundamentals, and limited supply,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties. “The community is located just minutes from downtown, Cumberland-Vinings and Hartsfield-Jackson International Airport in Atlanta’s most vibrant commercial and logistics hub on the west side.”

 

Crestmark Apartments offers a host of desirable features including spacious fully-equipped kitchens, washer and dryer connections, bay windows, garden-style tubs and generous walk-in closets. The community also features two outdoor swimming pools, a resort-style clubhouse, a business center, a fitness center, running and walking trails and covered parking.  

 

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.

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 Crestmark Apartments in Douglasville, Ga.

 

Developed in two phases in 1992 and 1994, Crestmark Apartments is a 334-unit garden-style community that offers one, two and three-bedroom apartment homes. The newly-acquired property is 98% occupied with rental rates ranging from $800 to $1,400. Crestmark Apartments is expected to receive enhancements to common area amenities and upgrades to unit interiors in connection with the investment.

 

Fogelman acquired Crestmark Apartments through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the fourth acquisition for the Fogelman-Thackeray partnership in the last six months and grows Fogelman’s Atlanta portfolio to more than 4,500 units. Since 2015, the Fogelman-Thackeray partnership has acquired nine multifamily communities totaling more than 2,400 units, with an aggregate value of more than $300 million.

 

“Crestmark fits nicely within our partnership’s strategy: to acquire properties in middle tier price point submarkets with strong fundamentals, and limited supply,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties. “The community is located just minutes from downtown, Cumberland-Vinings and Hartsfield-Jackson International Airport in Atlanta’s most vibrant commercial and logistics hub on the west side.”

 

Crestmark Apartments offers a host of desirable features including spacious fully-equipped kitchens, washer and dryer connections, bay windows, garden-style tubs and generous walk-in closets. The community also features two outdoor swimming pools, a resort-style clubhouse, a business center, a fitness center, running and walking trails and covered parking.  

 

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.

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 Earl E. Williams Jr. as Chief Financial Officer.  

Williams brings more than 30 years of real estate experience to his new role at the Memphis, Tenn.–based multifamily real estate services company. The new CFO will be responsible for Fogelman’s corporate finances, banking relationships, risk management, tax compliance and long-term planning for Fogelman-related entities.  

“Earl brings significant experience in real estate and a deep understanding of multi-generational and family-owned organizations,” says Rick Fogelman, CEO of Fogelman Properties. “We look forward to his contributions on the leadership team at Fogelman Properties.”

Prior to joining Fogelman, the financial professional served as CFO for 18 years at Loeb Properties, a Memphis-based real estate development company. Prior to Loeb, Williams spent 14 years as the corporate controller at Belz Enterprises, another multi-generational, family-owned real estate organization. Williams began his career as a tax manager at Arthur Andersen.

 Williams is a graduate of the University of Arkansas at Little Rock and is a Certified Public Accountant (CPA). Williams is a member of the Lambda Alpha real estate fraternity and an advisory board member for the Urban Land Institute within the Memphis district. He is also a board member and finance chair of the Memphis Leadership Foundation, where he previously served as board chair.  

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 Reserve Bartram Springs Apartments in Jacksonville, Fla.  

Developed in 2006, Reserve Bartram Springs is a 268-unit garden-style community that offers one, two, and three-bedroom apartment homes. The newly-acquired property is 96% occupied with rental rates ranging from $950 to $1,440. Reserve Bartram Springs is expected to receive enhancements to the common area amenities and upgrades to unit interiors in connection with the investment.

Fogelman acquired the community through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the second Jacksonville acquisition for the Thackeray partnership in the past 120 days and grows Fogelman’s Jacksonville portfolio to more than 1,900 units. Since 2015, the Fogelman-Thackeray partnership has acquired eight multifamily communities totaling more than 2,000 units, with an aggregate value of over $260 million.

“The community was a great fit for our partnership as it sits directly within the path of growth in southeast Jacksonville and is located within one mile of the Pavilion at Durbin Park, a 2.4M square foot mixed-use development which is currently under construction,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties.

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 Reserve Bartram Springs Apartments in Jacksonville, Fla.  

Developed in 2006, Reserve Bartram Springs is a 268-unit garden-style community that offers one, two, and three-bedroom apartment homes. The newly-acquired property is 96% occupied with rental rates ranging from $950 to $1,440. Reserve Bartram Springs is expected to receive enhancements to the common area amenities and upgrades to unit interiors in connection with the investment.

Fogelman acquired the community through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the second Jacksonville acquisition for the Thackeray partnership in the past 120 days and grows Fogelman’s Jacksonville portfolio to more than 1,900 units. Since 2015, the Fogelman-Thackeray partnership has acquired eight multifamily communities totaling more than 2,000 units, with an aggregate value of over $260 million.

“The community was a great fit for our partnership as it sits directly within the path of growth in southeast Jacksonville and is located within one mile of the Pavilion at Durbin Park, a 2.4M square foot mixed-use development which is currently under construction,” says Mike Aiken, Vice President of Acquisitions for Fogelman Properties.