ReportWire

Tag: multi-family development

  • Allen Harrison Company Hires Embrey Management Services to Launch Los Robles

    Allen Harrison Company Hires Embrey Management Services to Launch Los Robles

    [ad_1]

    Press Release



    updated: Nov 13, 2018

    Embrey Management Services has been hired by developer Allen Harrison Company to launch its new multi-family development “Los Robles” located in the Stone Oak community. Los Robles is an upscale, 306-unit apartment complex that promotes suburban living in a Hill Country setting.

    “Allen Harrison Company went through an extensive selection process to hire their onsite management company, and we are obviously very pleased to be their new partner,” said Cindy Ash, Embrey Management Services president. “Our company is a standalone enterprise separate from Embrey Partners which does its own multi-family development. We handle leasing and management services at all of Embrey Partners communities, so we have extensive experience in new construction. Allen Harrison Company is a well-respected organization in the industry, and we are really looking forward to developing a great working relationship with them in the years ahead.”

    We believe our service to residents is unmatched. That combination of market expertise and attention to detail for residents has helped us be very successful in property management of contemporary and luxury apartment communities.

    Cindy Ash, Embrey Management Services

    Los Robles is located at 20838 Blanco Road and will be open for leasing by the end of 2018. There are six different unit types in either one- or two-bedroom options. Amenities on the beautifully landscaped property include a resort style swimming pool with in-pool cocktail tables; a 24-hour strength and cardio fitness center; resident clubhouse with a lounge, library, and pub; a natural preserve Biergarten; dog park; and, available covered carports and private storage. The units themselves feature granite countertops and tile backsplashes, stainless steel appliances, wood-style flooring, spacious walk-in closets, private patios and balconies, and much more.

    “We already have our onsite management team in place for Los Robles, and so we’ll be ready for the opening day when the finishing touches on the property are wrapped up,” Ash noted. “We’ve had great success in leasing apartment communities like this to near capacity in relatively short timeframes. Plus, we believe our service to residents is unmatched. That combination of market expertise and attention to detail for residents has helped us be very successful in property management of contemporary and luxury apartment communities.”

    While this is Embrey Management Services first venture with Allen Harrison Company, they have other third-party property management agreements with developers outside of Embrey Partners. Currently, the company is managing 5,000 units in Texas, Arizona, and Tennessee.

    Allen Harrison Company is privately owned and based in Houston, Texas. Founded in 2010 by Paul Forbes and Will Harper, the company has acquired and developed approximately 15,000 multi-family units in various Texas markets. Allen Harrison’s leadership team has also transacted or completed more than $5 billion in multifamily transactions across mixed-use, high-rise, mid-rise, and low-rise multi-family complexes. Its current portfolio consists of 15 properties for a total of 3,789 units. www.allenharrisonco.com. Contacts: Jason Espejo, Managing Director, jespejo@allenharrisonco.com, or Mitchell Hanzik, Managing Director, mhanzik@allenharrisonco.com.

    ###

    San Antonio-based Embrey Partners, Ltd., is a real estate investment company that owns, develops, builds and manages market-rate multifamily and commercial assets in targeted markets across the United States. Since 1974, Embrey has developed more than 39,000 apartments and over 6 million square feet of commercial property. Embrey continues to be one of the leading developers in the multifamily sector, with approximately 6,000 units under construction or in development. www.embreydc.com.

    Source: Embrey Management Services

    [ad_2]

    Source link

  • Travel Apartment Pioneer Stay Alfred Raises $47 Million in Series B Funding

    Travel Apartment Pioneer Stay Alfred Raises $47 Million in Series B Funding

    [ad_1]

    Alternative accommodation leader Stay Alfred to continue rapid expansion of its travel apartments with Series B funding.

    Press Release



    updated: Oct 5, 2018

    Stay Alfred, the hospitality startup that pioneered the travel apartment concept in the alternative accommodation space, announced Wednesday it has secured Series B funding totaling $47 million. Led by Nine Four Ventures, a Chicago-based, vertically integrated real estate technology fund, the new investment will support Stay Alfred’s ongoing rapid expansion in current and future markets. The latest round brings the company’s total funding to date to $62 million.

    “Stay Alfred is leading the emerging wave of companies driving the evolution of the real estate industry and defining a new hospitality segment. Combine that with a tenacious, always-do-better culture and we believe they’re building something special,” said Nine Four General Partner Kurt Ramirez.

    Stay Alfred is leading the emerging wave of companies driving the evolution of the real estate industry and defining a new hospitality segment. Combine that with a tenacious, always-do-better culture and we believe they’re building something special.

    Kurt Ramirez, General Partner, Nine Four Ventures

    Founded in 2011, Stay Alfred has grown to nearly 2,000 travel apartments across 28 top U.S. markets, has hosted nearly 500,000 guests, and has a projected 2018 run rate of $110 million. While the alternative accommodation space continues to spawn new players in response to increased traveler demand, this three-time veteran of Inc. Magazine’s 500 and 5000 lists has established a unique and rapidly scalable foothold in downtown neighborhoods through its distinctive multi-unit model.

    “We recognized that most options in our industry lacked the consistency that travelers still seek, even as those travelers pursue alternatives to the bland shoeboxes of the traditional hotel offering,” said Jordan Allen, CEO of Stay Alfred. “We’ve focused on developing the infrastructure and expertise to deliver not only a consistent, high-end experience for our guests, but for our developer partners as well.”

    Stay Alfred holds full building and multi-floor long-term partnerships with leading developers and property management companies across the country. Allen credits Stay Alfred’s success to its superior operational experience, in-house regulatory expertise, next-generation hospitality tech platform and ability to design flexible short-term rental programs to meet the needs of each building.

    Allen predicts that the travel apartment model will become a core component of multifamily properties in every major travel destination, with traveler demand sufficient to support tens of thousands of units. Under the Stay Alfred model, multifamily property owners enjoy a boost to net operating income, and an added amenity to their buildings.

    “Stay Alfred is led by a fantastic team that understands what travelers want and how to provide them the best, most consistent travel experiences. The company is executing on an extensive, thoughtful roadmap, and we’re thrilled to be involved,” said Nine Four Ventures and Laramar Group founder Jeff Elowe.

    For additional information, contact:
    Jeanne Ryan
    Email: jeanne.ryan@stayalfred.com
    Mobile: 509-842-0150

    ###

    ABOUT STAY ALFRED

    Stay Alfred offers upscale travel apartments in the walkable downtown neighborhoods of 28 U.S. cities and counting. Our next-generation booking process, 24/7 customer service and professional housekeeping staff provide guests with the reliability of a hotel stay, while our spacious accommodations with a kitchen, laundry and private bedrooms give guests the convenience of an apartment. We live to offer travelers “Your place in the city.” For more information or to book, visit StayAlfred.com.

    ABOUT NINE FOUR VENTURES

    Nine Four Ventures is a vertically integrated venture capital fund that invests in technology companies impacting real estate and the built world. Nine Four partners with the Laramar Group, a national real estate owner and manager with 30 years of multi-asset investment experience, to provide portfolio companies with an environment where they gain access to the counsel, relationships, tools, and capital needed to succeed. The Nine Four Ventures Laboratory empowers companies with an expansive portfolio of properties to test, develop and refine their concepts and services for today’s rapidly evolving real estate market. For more information, visit ninefour.vc.

    Source: Stay Alfred

    [ad_2]

    Source link