Latest acquisition marks completion of $190M in multifamily acquisitions across 5 markets in first half of 2022

CHARLESTON, June 15, 2022: Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, announces the acquisition of Westbury Mews, a 132-unit apartment community in Summerville, South Carolina, a Charleston submarket.

Built in 1988, Westbury Mews features one, two and three-bedroom apartment homes with rental rates currently ranging from $975-$1,420. The recently acquired property is 97% occupied and will be managed by Fogelman. The company’s investment plan entails a full renovation of the unit interiors, signage, landscaping, clubhouse and amenity areas.

“We’re pleased to announce the acquisition of Westbury Mews with our longtime partner, Thackeray. The property is prominently situated on a major road artery, with a variety of major employers in the healthcare, aerospace, and advanced manufacturing sectors all nearby,” says Mike Aiken, SVP of Investments at Fogelman. “With one of the largest inbound migration percentages in the country, Charleston is a proven, top-performing market and we’re thrilled to expand our footprint in the area.” 

Fogelman acquired Westbury Mews through a joint venture with Thackeray Partners. Together, the Fogelman and Thackeray partnership has acquired 16 multifamily communities now totaling more than 3,000 units.

Since January 2022, Fogelman and its investment partners have acquired five multifamily communities totaling more than 1,100 units for an aggregate cost of $190 million. Fogelman’s newly-acquired communities add to its growing portfolio in the Southeast. 

“We’re excited to continue expanding our investment portfolio in one of the strongest and most

vibrant regions of the country,” Mark Fogelman, president of Fogelman Properties. “We are grateful for our investment partners and look forward to substantial growth throughout the year.”

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. 

For more information, visit www.westburymews.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 the Serene at Creekstone apartment community in Athens, Ga.

Built in 2001, Serene at Creekstone has a total of 158 apartment units. The community is 96% occupied and offers one and two-bedroom apartment homes with rental rates starting from $984. Serene at Creekstone will undergo community upgrades including renovations to all interior units, fitness center improvements and updates to the outdoor grilling area and pavilions. 

Fogelman acquired Serene at Creekstone through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the 13th acquisition for the Fogelman-Thackeray partnership, now totaling more than 2,500 units.

“Serene at Creekstone represents a move for Fogelman into a new product type with the SFR-style housing, which continues to gain in popularity with prospective residents,” says Mike Aiken, SVP of Investments at Fogelman. “We are excited to expand our portfolio with Thackeray and enter the Athens-Clarke County market, which was recently named one of the ‘100 Fastest-Growing Counties’ by the U.S. Census Bureau.” 

For more information, visit www.sereneatcreekstone.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. Founded in 1963, Fogelman manages 21 properties in the Atlanta market, totaling 6,000 units. Nationwide, Fogelman operates 94 multifamily communities totaling more than 28,000 apartment homes 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, is pleased to announce the acquisition of Legacy at Lanier apartments in Gainesville, Ga.

Built in 2004, Legacy at Lanier is a 150-unit multifamily community that offers one, two and three-bedroom apartment homes. The newly acquired property is 98% occupied with rental rates ranging from $850 to $1,275. Legacy at Lanier will undergo community upgrades including the addition of a new fitness center, renovations to the clubhouse, pool area and all unit interiors.

Fogelman acquired Legacy at Lanier through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the 12^th acquisition for the Fogelman-Thackeray partnership, now totaling more than 3,000 units.

“We are thrilled to expand our partnership with Thackeray and add Legacy at Lanier to our growing Atlanta portfolio, which now totals 21 communities and 6,000 units,” says Mike Aiken, SVP of Investments at Fogelman. “As active investors and experienced property managers in the local market, we’re bullish on Atlanta, and in particular the submarket of Gainesville. Legacy at Lanier is well-positioned for the future with the tremendous regional growth, an expanding local employment base and our upcoming property enhancements.”

For more information, visit www.legacyatlanier.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 Legacy at Lanier apartments in Gainesville, Ga.

Built in 2004, Legacy at Lanier is a 150-unit multifamily community that offers one, two and three-bedroom apartment homes. The newly acquired property is 98% occupied with rental rates ranging from $850 to $1,275. Legacy at Lanier will undergo community upgrades including the addition of a new fitness center, renovations to the clubhouse, pool area and all unit interiors.

Fogelman acquired Legacy at Lanier through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the 12^th acquisition for the Fogelman-Thackeray partnership, now totaling more than 3,000 units.

“We are thrilled to expand our partnership with Thackeray and add Legacy at Lanier to our growing Atlanta portfolio, which now totals 21 communities and 6,000 units,” says Mike Aiken, SVP of Investments at Fogelman. “As active investors and experienced property managers in the local market, we’re bullish on Atlanta, and in particular the submarket of Gainesville. Legacy at Lanier is well-positioned for the future with the tremendous regional growth, an expanding local employment base and our upcoming property enhancements.”

For more information, visit www.legacyatlanier.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 Legends of Chatham apartments in Savannah, Ga.

Developed in 2015, Legends at Chatham is a 255-unit garden-style community that offers one, two and three-bedroom apartment homes. The newly acquired property is 90% occupied with rental rates ranging from $1,035 to $1,475. In conjunction with the acquisition, the community is expected to receive renovations to the unit interiors, the clubhouse and the fitness center, in addition to landscape upgrades and a redesign of the pool area.

Fogelman acquired Legends of Chatham through a joint venture with the Dallas-based company, Thackeray Partners. The closing marks the 11^th acquisition for the Fogelman-Thackeray partnership, totaling more than 2,900 units, with an aggregate value of more than $380 million.   

“We are excited to add Legends at Chatham to our expanding portfolio with Thackeray,” says Mike Aiken, SVP of Investments at Fogelman. “Migration patterns since the pandemic have accelerated in favor of southeastern cities like Savannah, and this property is located in a submarket with strong accessibility to the growing set of demand drivers in the region.”

HOUSTON – JLL announced today that it has closed the sale of Steeplecrest, a 260-unit, garden-style apartment community in Northwest Houston’s Jersey Village submarket.

JLL marketed the property exclusively on behalf of a joint venture between Willmax Multi-family Investors, L.P. and Thackeray Partners, and procured the buyer, ClearWorth Capital.

Steeplecrest is located at 11220 West Road near major roadways, including Highway 290, Beltway 8 and F.M. 1960. Completed in the 1990’s, the well-maintained property consists of 13 two- and three-story buildings that house a variety of one- and two-bedroom units averaging 845 square feet. Apartment home amenities include features such as stainless steel appliances, refinished countertops, glass backsplashes, custom cabinetry, kitchen pantries, built-in bookshelves, walk-in closets, in-unit washers and dryers, and private patios and balconies. Common area amenities include resort-style pools with water features, poolside gazebos with grills and bar seating, a modernized clubhouse, 24-hour fitness center, business center and covered parking.

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Chris Curry and Todd Marix and Analyst Estee Ibáñez. 

“The Jersey Village/Cypress submarket is very popular with workforce housing buyers because there are limited Class A options and no new supply,” Curry said. “Class B assets like Steeplecrest offer Class A performance with rent levels above its peers elsewhere in the city. The demographics and schools in the area are strong as well, which drives healthy and sustained demand for the apartments.”