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QUAD PROPERTY GROUP ENTERS DENVER WITH VALUE-ADD PLAY

By qpgadmin,

The Thornton community traded for $25 million.

New York-based Quad Property Group has acquired a 100-unit community in suburban Denver for $25 million. The purchase of Oxford Pointe marked the company’s first transaction in Colorado. Crossbeam Capital was the seller, having acquired the property for $19.9 million in 2019, according to Yardi Matrix data.

Marcus & Millichap First Vice President of Investments Jason Hornik and Senior Associate Greg Parker from the company’s Denver’s office worked on behalf of the seller.

The property will go through a renovation plan and, according to Quad Property Group principal Jariel Bortnick, the company is planning to upgrade the interiors and to add a swimming pool and an outdoor kitchen.

READ ALSO: Top Western Markets by Investment Activity

Oxford Pointe is located at 300 Russell Blvd. in Thornton, Colo., and comprises one-, two- and three-bedroom units between 740 and 980 square feet. The property was 99 percent occupied at the time of the acquisition, according to Quad Property Group.

The nine-building asset was completed in 1973 and is situated on a 5-acre lot. Common-area amenities include a clubhouse, a swimming pool, playground area, laundry facilities, a pet park and 166 parking spots. The property is situated close to Interstate 26, less than 10 miles north of downtown Denver. The North Suburban Medical Center, Sunrise Village Shopping Center and other points of interest are located nearby.

According to a recent Yardi Matrix report, Denver rents are once again accelerating after a seasonal slowdown. On the investments side, some $1.5 billion in rental assets traded across the metro in the first four months of the year, on par with 2021’s volume.

CategoriesPress Release

QUAD PROPERTY GROUP SELLS AUGUSTA-AREA APARTMENT COMPLEX

By qpgadmin,

FOR IMMEDIATE RELEASE

Date: 12/28/21

Contact: Jariel Bortnick, jariel@quadpropertygroup.com, (646) 362-3284

Quad Property Group Sells Augusta-Area Apartment Complex.

The Boundary at Silver Bluff sold for a 95% premium in just over two years

New York, NY – An affiliate of Quad Property Group, a New York-based real estate investment firm, has sold The Boundary at Silver Bluff in Aiken, South Carolina. The $15,000,000 sale, which was 95% higher than the 2019 purchase price, closed on December 23rd.

Berkadia’s Carolinas Investment Sales Team, consisting of Managing Director, Mark Boyce, and Director, Blake Coffey, assisted the seller with the transaction.

“In just over two years, we were able to execute our business plan and significantly enhance the Property’s position in the market,” said Jariel Bortnick, a principal at Quad Property Group. “We are pleased to capitalize on The Boundary at Silver Bluff’s transformation, along with the robust investor demand for multifamily in the Augusta/Aiken area.”

The 126-unit complex was previously purchased for $7,700,000 in September, 2019. Located at 749 Silver Bluff Road, The Boundary at Silver Bluff was built in 1976 and sits on 9 acres in south Aiken, less than 20 miles from downtown Augusta, GA. It contains a mix of 1, 2 and 3-bedroom apartments, along with a leasing office, resident clubhouse, swimming pool, pet park and sport court.

Quad Property Group, which owns apartment communities throughout the Sunbelt, performed numerous upgrades to the property during its ownership. The upgrades included enhancements to the property’s common areas, amenity spaces and unit interiors.

Michael Kashan, also a principal at Quad Property Group, stated that, despite the sale, the company expects to expand its presence in the Augusta metro area. “We remain excited about the present and future of the area and plan to add to our multifamily portfolio locally,” said Kashan.

Quad Property Group is a real estate investment firm that specializes in the ownership, redevelopment and management of multifamily property.  The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value. For more information, visit the company’s website at www.quadpropertygroup.com.

CategoriesPress Release

QUAD PROPERTY GROUP ACQUIRES WARNER ROBINS APARTMENT COMPLEX

By qpgadmin,

FOR IMMEDIATE RELEASE

Date: 12/9/21

Contact: Jariel Bortnick, jariel@quadpropertygroup.com, (646) 362-3284

Quad Property Group Acquires Warner Robins Apartment Complex.

The Lory of Warner Robins, a 102-unit apartment complex, is located just off Highway 96

New York, NY – An affiliate of Quad Property Group, a New York-based real estate investment firm, has acquired The Lory of Warner Robins, a 102-unit apartment community in Warner Robins, Georgia, for $16,150,000. The transaction closed on December 8th and represents the company’s fifth apartment complex acquisition in Georgia.

The property, which is being rebranded as Element at Warner Robins, is located at 109 Latham Drive in Warner Robins. It contains a mix of 1 bedroom, 2 bedroom and 3 bedroom apartments, all in 1-story buildings with private entrances. The complex also features a resident clubhouse, swimming pool and playground, along with other resident amenities. Built in 2001, it was 100% leased at the time of the sale.

Jariel Bortnick, a principal at Quad Property Group, stated that the acquisition of complex was an ideal opportunity to acquire a well-located, fully-leased property in a burgeoning part of Middle Georgia.

“With the explosive growth in Warner Robins, we are excited by the opportunity to enter the market and further enhance an already well-positioned apartment community,” Bortnick said.

Bortnick stated that the company plans to improve the amenity spaces and common areas at the property, including an expansion of the clubhouse to accommodate a new fitness center for residents.

According to Michael Kashan, also a principal at Quad Property Group, the company owns a number of apartment communities throughout the Southeast and is eager to bring their brand to Middle Georgia.

“We are certainly pleased to expand our portfolio into the Warner Robins area and look forward to growing our presence in the region.”

Quad Property Group is a real estate investment firm that specializes in the ownership, redevelopment and management of multifamily property.  The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value. For more information, visit the company’s website at www.quadpropertygroup.com.

CategoriesPress Release

QUAD PROPERTY GROUP EXPANDS CAROLINAS PRESENCE WITH PURCHASE OF 192-UNIT APARTMENT COMPLEX

By qpgadmin,

FOR IMMEDIATE RELEASE

Date: 6/30/21

Contact: Jariel Bortnick, jariel@quadpropertygroup.com, (646) 362-3284

Quad Property Group Expands Carolinas Presence with Purchase of 192-unit Apartment Complex.

Ambassador Court is located in High Point, NC

New York, NY – An affiliate of Quad Property Group, a New York based real estate investment firm, has acquired Ambassador Court, a 192-unit apartment community in High Point, North Carolina, for $17.55 million. The transaction closed on June 30th and represents the company’s fourth acquisition in the Carolinas. The seller was Charlotte-based Greystone Capital LLC.

Ambassador Court, located at 2501 Ambassador Court in High Point, is comprised of a mix of 1, 2 and 3 bedroom apartments. The complex also features numerous resident amenities, including a clubhouse, swimming pool, playground and soccer court. Built in 1984, it was 99% leased at the time of the sale.

Jariel Bortnick, a principal at Quad Property Group, stated that the acquisition of Ambassador Court was a compelling opportunity to enter the dynamic Piedmont Triad area and acquire a well-located, well-maintained property with tremendous upside.

“Being located in High Point and just minutes from both Greensboro and Winston-Salem is highly appealing,” Bortnick said. “With our value-add plan to make improvements to the community and renovate apartment interiors, the property should appeal to a broad base of prospective tenants.”

Specifically, Bortnick mentioned that they plan to enhance and expand the amenity spaces and common areas at Ambassador Court, to include the addition of a fitness center and pet park.

According to Michael Kashan, also a principal at Quad Property Group, the company is aiming to acquire additional apartment communities in the Piedmont Triad.

“We are drawn to the significant growth in the region,” Kashan said. “We want to be a part of the story and hope to continue expanding our portfolio in the Triad.”

Quad Property Group is a real estate investment firm that specializes in the ownership, redevelopment and management of multifamily property.  The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value. For more information, visit the company’s website at www.quadpropertygroup.com.

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CategoriesNews Press Release

QUAD PROPERTY GROUP ACQUIRES SUBURBAN ATLANTA APARTMENT COMPLEX

By qpgadmin,

Date: 5/13/19

Quad Property Group Enters Atlanta Market with Purchase of Apartment Complex.

Summit Avondale, a 156-unit apartment complex, is located in suburban Avondale Estates

New York, NY – An affiliate of Quad Property Group, a New York based real estate investment firm, has acquired Summit Avondale, a 156-unit apartment community in suburban Atlanta, for $12.48 million. The transaction closed on April 30th and represents the company’s first acquisition in the Atlanta metro area.

Summit Avondale is located at 3548 Rockbridge Road in Avondale Estates, adjacent to I-285. With its location along the perimeter and being situated just east of Decatur, the complex is proximate to major employment centers, universities, shopping and entertainment venues throughout metro Atlanta.

Composed entirely of two bedroom, two bathroom apartments, Summit Avondale also features a swimming pool, fitness center, clubhouse, playground and sports court, along with other resident amenities. The complex, which was built in 1985, was 97% occupied at the time of the sale.

Jariel Bortnick, a principal at Quad Property Group, stated that the acquisition of Summit Avondale represents an ideal entry for the company into the Atlanta market. 

 “With its location next to I-285, in a rapidly improving stretch of Avondale Estates, the property is poised to capitalize on the incredible population and job growth in Atlanta,” Bortnick said.

Bortnick also noted that the company plans extensive upgrades for Summit Avondale, to include significant modernization of the facades, along with enhanced amenity spaces and updated unit interiors. “We plan on making significant investments at Summit Avondale that will considerably improve the property and the resident experience, both inside individual apartments and throughout the community.”

According to Michael Kashan, also a principal at Quad Property Group, the company expects to acquire additional Atlanta-area apartment complexes.

“Atlanta’s growth and innovation are incredibly impressive and show no signs of slowing down,” Kashan said. “We want to be a part of the area’s exciting future and expect to make additional acquisitions shortly.”

Quad Property Group is a real estate investment firm that specializes in the ownership, redevelopment and management of multifamily property.  The company’s extensive experience and hands-on, proactive approach to real estate challenges makes the company uniquely suited to add significant value. For more information, visit the company’s website at www.quadpropertygroup.com.