Saturday, June 1, 2013

Atlantic | Pacific Companies Announces New Property Management Assignments in South Florida

Apogee Beach Hollywood Apartments
Hollywood, FL

MIAMI, FL  – Atlantic|Pacific Management (A|P Management), leasing and management platform under Atlantic|Pacific Companies (A|P), is pleased to announce the additions of Apogee Beach Hollywood, The Wave Condominium, and The Whitney Condominium to its property management portfolio. A|P Management will begin managing these luxury condominiums on June 1, 2013.

Apogee Beach Hollywood, located at 4053 S. Surf Rd in Hollywood, Florida, is an ultra-luxury living property. The property houses 49 units, available with two, three, and four bedroom floor plans, as well as penthouses within its 22nd floor.

All Apogee Beach Hollywood residences include floor-to-ceiling windows, large balconies, and first class amenities. Residences were inspired by Carlos Ott and designed by Cohen Freedman Encinosa, with social spaces envisioned by world-renowned Rockwell Group. Every detail is accounted for at the property, including an impressive two-story lobby, oceanfront pool deck, and beachfront cabanas.

The Whitney Condominium
West Palm Beach, FL
The Wave Condominium is located at 2501 South Ocean Drive in Hollywood, Florida. The Wave Condominium has 550 residential units, offering studio, one, and two bedroom floor plans. The property also houses 23 retail and professional spaces.

The Whitney Condominium is a luxury high rise condominium located at 410 Evernia Street in West Palm Beach, Florida. In the heart of the city, 
The Whitney is minutes away from Clematis Street and City Place with plentiful options for museums, dining, and shopping experiences. The property consists of 210 units, ranging from one to three bedroom floor plans, all with access to amenities such as a roof top heated lap pool, sun deck, and fitness center.

Luis Alicea
Luis Alicea, Director of Business Development at A|P Management, says “A|P Management has grown exponentially in the last five years, as evident by its expansion into Palm Beach and Broward Counties. A|P has become a property management contender.”
For a complete copy of the company’s news release, please contact:

Jessica Wade Pfeffer / Jessica Wade Inc.

Snyder Langston Names Steven Gabbert, CBCP, LEED™ AP as Director of Sustainability

Pelican Hill Resort, Newcoast, CA

IRVINE, CA— Snyder Langston, one of Southern California’s largest and most respected builders, has named Steven Gabbert, CBCP, LEED™ AP as Director of Sustainability.

Steven Gabbert
In his new role, Gabbert is responsible for leading the development and execution of Snyder Langston’s sustainability initiative. A passionate green building advocate, Gabbert will be a valuable in-house expert in demonstrating the value of sustainability to the firm’s clients. He will also proactively work with them to integrate sustainability into their projects and into their corporate platforms.

Over his nine-year tenure at Snyder Langston, Gabbert has held other positions including: project engineer, senior project engineer, and most recently served as project manager. He has been involved with significant Southern California projects including: Broadcom’s headquarters, The Pelican Hill Resort, and the new Hyundai North American Headquarters, among others.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto
Spaulding Thompson & Associates

The Metro @ Hollywood in Hollywood, CA is the newest affordable senior housing community from Meta Housing Corp


The Metro @ Hollywood Apartments, Hollywood, CA
LOS ANGELES, CA  – Meta Housing Corporation has completed a $43.8 million transit-oriented mixed use development in Hollywood, Calif. The Metro @ Hollywood includes 5,500 square feet of ground floor retail space, and is made up of 120 one-and two- bedroom apartments which will provide new, affordable housing to seniors aged 55+. 

John Huskey
The property is located in a walkable Hollywood neighborhood within 200 yards of the Los Angeles County Metro’s Hollywood/Western Red Line subway station, which connects Hollywood with Downtown Los Angeles, according to John Huskey, President of Meta Housing Corporation.

“Transit-oriented development continues to emerge as a smart growth solution for urban cities throughout the U.S.,” explains Huskey.  “By strategically placing our properties in pedestrian-friendly neighborhoods and utilizing public metro and bus systems, we have identified a viable and environmental solution to many of the traffic and parking issues which are typical in an urban neighborhood.”

The Metro @ Hollywood was completed with support from the State of California’s Department of Housing and Community Development, the Community Redevelopment Agency of Los Angeles, and the Los Angeles Housing Department.

For a complete copy of the company’s news release, please contact:

Jenn Quader/ Corynne Randel
Brower, Miller & Cole
(949) 955-7940


Post Properties Announces Development of Buckhead, GA Luxury High-Rise and Acquisition of Houston, TX Development Site

Post Alexander Phase 2 Apartments, Buckhead, GA

ATLANTA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, announced today that it has commenced the development of its Post Alexander™, phase II, luxury high-rise community, located in the Buckhead submarket of Atlanta.

Post Midtown Square Phase 3, Houston, TX
The project will include 340 units, with an average size of 830 square feet, on 19 residential floors, built over seven levels of parking, with rents averaging approximately $1,790 per month.

The project’s luxury apartments will be complemented by amenities that include a roof-top terrace and elevated pool deck, fully-equipped fitness center and clubroom. 

The project is located adjacent to Phipps Plaza and near Lenox Square®, two of the Southeast’s leading high-end shopping venues, and benefits from proximity to the Buckhead commercial office district and high-end Buckhead and Brookhaven residential neighborhoods.

Post South Lamar Apartments, Austin, TX
The project’s total cost is expected to be $75.5 million, and the Company estimates that its unlevered, stabilized yield on cost will be 6 percent, after adjusting for a 3 percent management fee and $300 per unit replacement reserves.

The Company expects to fund the project out of its available cash balances, operating cash flow and borrowings, as needed, under its unsecured lines of credit. The Company expects to break ground on the project in the next several months.

Dave Stockert
The Company also announced today the acquisition of a 3.9-acre development site, located at the intersection of Richmond Avenue and Loop 610 in the Galleria submarket of Houston, where the Company expects to be able to develop approximately 390 luxury apartment units. The purchase price of the site was $13.1 million, which was funded out of available cash balances.

Finally, the Company announced today that its 124-unit Post Midtown Square®, phase III development, located in Houston, and 298-unit Post South Lamar™ development, located in Austin, have each achieved at least 95 percent apartment leasing.

Said Dave Stockert, Post’s CEO, “Creating value, by developing exciting new communities, is one of the most important drivers of our business. Today’s announcements reflect our focus on creating high-quality, well-appointed apartment homes, located in the places our customers want to be.”

For a complete copy of the company’s news release, please contact:

Post Properties, Inc.

Chris Papa, 404-846-5000

Post Properties Announces Acquisition of Orlando, FL Luxury Apartment Community

         Crosswater at Lakeside Village apartments, Windermere, FL

ATLANTA, GA--(BUSINESS WIRE)-- Post Properties, Inc. (NYSE: PPS), an Atlanta-based real estate investment trust, today announced the closing of its acquisition of Crosswater at Lakeside Village, located in the affluent Windermere submarket of Orlando, Florida.

The 300-unit community, which has been renamed Post Lakeside™, was recently completed in 2013, and is in the late stages of its initial lease-up (currently 86 percent leased).

 The community has units averaging 1,070 square feet, with resort-style amenities oriented to maximize the impact of the lake and associated conservation area. The community is also located adjacent to a recently developed Publix-anchored shopping center, providing walkable retail amenities to residents.

The purchase price of the community was $48.5 million, and was paid out of the Company’s available cash balances. 

The Company expects the first-year stabilized yield on its investment to be approximately 5.2 percent, after deducting a 3 percent management fee and $300 per unit replacement reserve.

In connection with this acquisition, the Company expects to commence the sale of one of its older Atlanta apartment communities, with the intent to complete a reverse like-kind exchange. That sale and exchange is expected to be completed by the fourth quarter of 2013.

For a complete copy of the company’s news release, please contact:

Post Properties, Inc.

Chris Papa, 404-846-5000