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| Rick Fogelman |
MEMPHIS, TN -- Fogelman
Properties, one of the country’s largest, privately-owned and fully integrated
multifamily investment and property management companies, is pleased to
announce that is acquisition activity grew more than 100% from 2018 to 2019,
including more than 2,000 units across six multifamily communities over the
past 12 months.
The Memphis, Tenn.-based
company recently closed $135M in the first quarter of 2019 with the acquisition
of Artesian on Westheimer, in Houston with DRA Advisors, and Crestmark
Apartments in Atlanta with Thackeray Partners.
“This year we focused
efforts on several key markets including Atlanta, Central Florida and major
Texas metro areas” says Mike Aiken, VP of Acquisitions at Fogelman.
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| Mike Aiken |
“Specifically, we elevated our
portfolio with acquisition targets that allowed our company to leverage its
vertically-integrated operating team and long-term, local presence in these
markets.”
With the expanded
portfolio and target of an additional $200M in acquisitions for the remainder
of 2019, Fogelman is one of the most active buyers in the country.
Fogelman currently manages
more than 28,000 units across 10 states, totaling more than $4B of managed
assets. The company’s national portfolio has experienced an average occupancy
of 95% in 2018 and projected revenue growth of 3%.
CONTACT:
Brittanie Price,
BCENE Public
Relations
703.967.477
www.fogelman.com or follow on Facebook, Twitter and Instagram.
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