Affordable Housing Tax Credit Coalition Awards WNC Founder and Chairman Will Cooper Sr. with David Reznick Lifetime Achievement Award

  

Will Cooper Jr.

IRVINE, CA (June 27, 2016) – WNC Founder and Chairman Will Cooper Sr. has been awarded the David Reznick Lifetime Achievement Award by The Affordable Housing Tax Credit Coalition.

 The award was presented to Cooper Sr. by Senator Mike Crapo (R-IA) and Congressman Xavier Becerra (D-CA) at the 22nd annual Charles L. Edson Tax Credit Excellence Awards.

Held at the U.S. Capitol Visitors Center in Washington D.C., the event honors low-income housing tax credit (LIHTC) developments at the forefront of creating stronger, healthier communities in urban, suburban and rural areas nationwide.

“Will Cooper Sr. is appropriately known as a pioneer of the affordable housing industry, having been at the forefront of the LIHTC program since its creation by Congress in 1986,” said Senator Crapo.

Sen. Mike Capro

“He is a key member of the affordable housing industry who has helped show many how the low-income housing tax credit provides essential capital to underserved communities and provides key financing for small and rural affordable housing developments. Will is a nationally recognized leader and this lifetime achievement celebrates his remarkable career and work.”

The David Reznick Lifetime Achievement Award recognizes Cooper Sr.’s longtime commitment to supporting the work of the affordable housing and community development industry on the federal, state and local levels. He has testified before both the U.S. Senate and House of Representatives and has worked tirelessly for decades to create and preserve affordable homes for low-income families across the country.

“David was a friend of mine, as he was to so many in the affordable housing industry,” said Cooper Sr. “He was also a member of WNC’s Advisory Board and provided us with excellent insight. I’m very thankful to the board of the Tax Credit Coalition for honoring me, and for the incredible work the organization does on Capitol Hill to support the low-income housing tax credit program. And thank you to everyone in our industry who help to make our nation’s housing better and more affordable.”

Sen. Xavier Becerra

Cooper Sr. founded WNC, a national investor in real estate and community development initiatives, in 1971 in Irvine, California. Over time, he built the company’s investor base to include Fortune 500 companies, insurance giants, and multinational banks, helping to bring private investment into the affordable housing sector. In 1997 he cofounded the California Housing Consortium to unite the businesses and organizations working to support affordable housing in the state in a nonpartisan advocacy effort, to great success.

  

David Reznick was co-founder and Chairman of the Board of Reznick Group, P.C. before the firm combined with J.H. Cohn in 2012 to form CohnReznick LLP. The success of CohnReznick is due, in large part, to the formidable presence David established in the affordable housing industry more than 40 years ago. An industry legend and visionary, he was known for his tireless work to create and protect affordable housing.

“Our founder, my father, has dedicated much of his life to ensuring the delivery of quality, safe homes to individuals and families in need throughout the country,” said Will Cooper Jr., president and chief executive officer of WNC. “He has not only helped lead the low-income housing tax credit industry over the past 30 years, but has also played a significant role in ensuring its success.”

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

Julie Leber

Spotlight Marketing Communications

949.427.5172 ext. 703

julie@spotlightmarcom.com

www.wncinc.com.

HFF closes $35.225 million sale of two premier office properties within Regency Park in Raleigh-Durham, NC

  

100 and 200 Regency Forest Drive within Regency Park, Cary, NC

 

Scot Humphrey

CHARLOTTE, NC – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the $35.225 million sale of 100 and 200 Regency Forest Drive, two premier office properties totaling 207,347 square feet within Regency Park in Cary, North Carolina.

HFF marketed the offering on behalf of the seller, a joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners, and procured the buyer, True North Management Group, LLC.

100 & 200 Regency Forest are situated on 42.12 acres within the prestigious Regency Park office park in the Raleigh-Durham suburb of Cary.  Positioned along the U.S. Highway 1 corridor, the properties have regional access to Raleigh and Apex as well as the executive neighborhoods of Regency, MacGregor Downs, Lochmere and Prestonwood Country Club.

 Completed in the late 1990’s, 100 & 200 Regency Forest feature brick and tinted glass exterior construction, two-story atriums and parking ratios of up to 4.35/1,000 rentable square feet.  

The tenancy is dominated by credit tenants focused in STEM industries including Cadence Design, MicroMass Communication, MercuryGate International, Crown Castle and Garmin International. 

Ryan Clutter

The HFF investment sales team representing the seller was led by Scot Humphrey, Ryan Clutter, and Chris Norvell.

“Regency Forest is one of many recent transactions in the Carolinas that was aggressively sought after by investors, many of whom still feel like the area is priced favorably compared to some of our peer markets such as Austin and Nashville,” said Humphrey. 

“The HFF Carolinas office currently has more than 2.8 million square feet of office buildings in escrow with buyers, illustrating the healthy amount of capital targeting the region.”

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.trinitycapitaladvisors.com.

www.starwoodcapital.com.

HFF arranges joint venture equity for recapitalization of River Oaks District in Houston, TX

 

River Oaks District, Houston, TX

Trey Morsbach

DALLAS, TX – June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged joint venture equity for the recapitalization of River Oaks District, a 650,000-square-foot, luxury mixed-use development in Houston, Texas.

HFF worked exclusively on behalf of the developer, OliverMcMillan and its equity partner, to arrange joint venture equity for the recapitalization of the property from institutional investors advised by J.P. Morgan Asset Management.  HFF previously arranged construction financing on behalf of the developer in 2013.

Completed in late 2015, River Oaks District is on the northeast corner of Westheimer Road and Westcreek Lane in Houston’s Inner Loop (Interstate 610).  Situated on 14.5 acres, the property is adjacent to the Galleria office and retail district and River Oaks neighborhood, which is the city’s most exclusive residential area.

  The luxury project encompasses 302,000 square feet of retail, fine dining and entertainment space leased to high-end tenants, including Hermès, Cartier, Dior, Chopard, Tom Ford, Patek Philippe at deBoulle, Dolce & Gabbana, Harry Winston, Diptyque, Bruno Cucinelli, iPic Theaters, Equinox, Flow Juice Bar, Hopdoddy Burger Bar, Le Colonial, Steak 48, Taverna and Toulouse Café and Bar. 

Bill Fishel

The project is also home to 66,000 square feet of state-of-the-art boutique office space and the Grey House at River Oaks District, a 279-unit, two-building contemporary residential community.

  Visually inspired by the grey hues used in the design of Renzo Piano’s renowned Menil Collection building in Houston’s Museum District, Grey House features luxury finishes and amenities, including two lap pools, fitness center, yoga room, clubhouse, screening rooms, conference room and concierge service.

The HFF equity placement team representing the developer was led by senior managing director Trey Morsbach and director Bill Fishel.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.am.jpmorgan.com/us/institutional/investment-strategies/alternatives-global-real-assets.

www.olivermcmillan.com

www.riveroaksdistrict.com

Griffin-American Healthcare REIT IV Enters Agreement to Acquire Rochester Hills Medical Office Building Near Detroit

  

Danny Prosky

DETROIT, MI – American Healthcare Investors and Griffin Capital Corporation, the co-sponsors of Griffin-American Healthcare REIT IV, Inc., announced the REIT has entered into an agreement to acquire Rochester Hills Medical Office Building, an approximately 30,000-square-foot medical office building in the Detroit suburb of Rochester Hills, Michigan, from an unaffiliated third party.

The acquisition is subject to customary closing conditions and the satisfaction of other requirements as detailed in the agreement. 

“Strategically located in close proximity to two major hospitals, in an affluent community and anchored by the state’s largest health system, Rochester Hills Medical Office Building is an ideal acquisition for Griffin-American Healthcare REIT IV,” said Danny Prosky, a principal of American Healthcare Investors and president and chief operating officer of Griffin-American Healthcare REIT IV.

 “Excellent location and exceptional tenants are the keys to successful real estate investment, and we couldn’t be more pleased to move forward with the acquisition of Rochester Hills Medical Office Building.”

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

Damon Elder

SVP, Marketing & Communicatons

American Healthcare Investors, LLC

18191 Von Karman Ave., Third Floor

Irvine, California 92612

(949) 270-9207 direct

(714) 356-1460 mobile

delder@ahinvestors.com

www.AmericanHealthcareInvestors.com

NAI Realvest Closes on Acquisition of Two Industrial Buildings for Investment Buyer in Longwood, FL totaling $1.45 Million

         

Paul P. Partyka

 LONGWOOD, FL. --- NAI Realvest recently represented the investment buyer of two industrial buildings totaling 28,300 useable square feet purchased for $1,450,000, located on Timocuan Way off of Ronald Reagan Blvd. in Longwood.

 

Paul P. Partyka, Partner at NAI Realvest and Associate Juan Jimenez negotiated the sale representing the local Buyer, Norelli Properties, LLC.   

 Partyka said Norelli Properties is expanding their investment holdings in anticipation of increased real estate values along the 17-92 corridor with approaching commercial development.

The 1640 Timocuan Way building with 14,025 square feet was built in 1999 and the 1644 Timocuan Way building, with 14,275 square feet was built in 1988.

The seller was represented by Mark Harkins of Harkins Commercial, LLC.

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

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com

  

Bayer Properties Places Alabama Land Across from The Summit Birmingham Under Contract

 

Jeffrey Bayer

BIRMINGHAM, AL — Bayer Properties announced today that it has placed an approximately 125-acre tract of land along Highway 280 across from The Summit Birmingham under contract. 

A significant portion of the tract is being sold by AT&T in connection with its plan to relocate various offices within Birmingham.

“We will be working with local officials and doing the necessary due diligence prior to formalizing plans for the site located across Hwy 280 from The Summit,” said Jeffrey Bayer, President & CEO at Bayer Properties.

David Silverstein, principal at Bayer Properties, added, “We certainly understand the sensitivity around development in this location, and our goal is to create a project that will be complementary to The Summit and surrounding areas and will be a true amenity for the community.”

In addition to this new site, Bayer Properties is also redeveloping The Pizitz in downtown Birmingham. The historic former department store is being transformed into apartments, creative office space and a food hall.

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

Savannah Durban

The Wilbert Group

 Tel: 404-343-0870

sdurban@thewilbertgroup.com

www.bayerproperties.com

Charles Dunn Co. Completes $2.4 Million Sale of 12-Unit Apartment Property in East Hollywood Submarket of Los Angeles

  

4351 Normal Avenue, East Hollywood, Los Angeles, CA

LOS ANGELES, CA – Charles Dunn Company, one of the largest full-service regional real estate firms in the western United States, has completed the nearly $2.4 million sale of a fully occupied 12-unit apartment property located at 4351 Normal Ave. in the East Hollywood submarket of Los Angeles.

Bryan Glenn, senior director with Charles Dunn Company, represented the seller, a private Los Angeles-based investment company. The 1031 exchange buyer, a Los Angeles-based private investor, was represented by Nourmand & Associates. The closing cap rate was 5.4 percent and the price per unit was approximately $200,000.

Bryan Glenn

“The East Hollywood neighborhood has been seeing a strong amount of gentrification recently, attracting young Millennials who are seeking updated apartments like this one,” observed Glenn.

 “This trend allowed the seller to achieve favorable rental rates and therefore he decided to take advantage of the elevated property value created by these rents by selling the asset.  We attracted a buyer who liked the great condition of the property and cash flow, and believes growth trends for the area will continue.” 

Built in 1918, the renovated property includes four studio units, two one-bedroom units, and six two-bedroom units. It is located in a prime location near the 101 Freeway and is just four blocks from the Red Line Metro station.

It also offers easy access to Silver Lake and Koreatown and is walking distance to LA City College, which is undergoing significant campus improvements such as a new and advanced technology learning facility, expanded athletic/fitness, and child development centers.

  

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

Darcie Giacchetto

949.278.6224

www.charlesdunn.com

Del Webb Stone Creek in Ocala, FL to Unveil New RV / Boat Storage Facility Grand Opening July 7

Sean Strickler

OCALA, FL --- Del Webb Stone Creek will host a Grand Opening Thursday July 7 at the active adult community’s new RV and boat storage parking facility which will include live music, gourmet food truck, frozen treats and tours of luxury RVs.

Sean Strickler, division president for Del Webb in the West Florida region, said the event, which is open to the public from 10 a.m. to 1 p.m., will showcase the newly completed facility to house residents’ RVs and boats.  Discounts will be offered on America Choice RV Sales and Rentals at the event, he added

Strickler said 53 spaces are available at a cost of $125 to $250 per year depending on size.  Spaces are being allocated initially by random drawing of residents’ names along with information including space size needed. A limit of one type of each vehicle per household is permitted.

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

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-461-3780 or 407-644-4142; www.lvershelco@aol.com

877-333-5932

 www.delwebb.com.

 www.delwebb.com/Stonecreek.

For more information about PulteGroup, Inc. and PulteGroup brands, go to www.pultegroupinc.com

www.pulte.com

www.centex.com

www.delwebb.com

.

Bull Realty Brokers $6.2 Million Office Building in Duluth, GA

 

Paul Zeman

 ATLANTA, GA (June 23, 2016) — Healthcare Real Estate Services at Bull Realty brokered the sale of Satellite Place Building 2200, a 56,903 SF office building located in Duluth, GA. The sale closed on June 21, 2016 for $6.2 million.

The property is 100% occupied by National Vision, Inc. Paul Zeman with Bull Realty was chosen to market the property exclusively by the seller, TCG Commerce Holdings, LLC. The buyer was Stage Acquisitions, an affiliate of Skokie, IL based Stage Equity Partners. 

"This property serves as the corporate headquarters for National Vision and will prove to be an outstanding long term hold for Stage," said Zeman.

Healthcare Real Estate Services (www.HealthcareRealEstateServices.com) are specialty brokers with Bull Realty, Inc. (www.BullRealty.com), a U.S. commercial real estate brokerage and advisory firm headquartered in Atlanta, licensed in nine states providing acquisition, disposition, leasing and advisory services.

The firm also produces and hosts the nationally-syndicated Commercial Real Estate Show (www.CREshow.com). The popular weekly show is broadcast on radio stations nationwide, iTunes, YouTube and CREshow.com.

  

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

Melissa Henry

Communications Manager

Bull Realty, Inc. 

404-876-1640 x 110

RealtyTrac Reports 18 Percent of U.S. Housing Markets Less Affordable Than Historically Normal Levels in Second Quarter 2016

Daren Blomquist

IRVINE, CA, June 23, 2016 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Q2 2016 Home Affordability Index, which shows that 18 percent of U.S. county housing markets were less affordable than their historically normal levels in Q2 2016, up from 5 percent of markets in the previous quarter but down from 20 percent of markets exceeding historically normal home affordability levels a year ago.

 “Although nearly one in five U.S. housing markets was not affordable by historic standards in the second quarter, the good news is that affordability is improving compared to a year ago in the majority of markets thanks to a combination of slowing home price appreciation and accelerating wage growth, along with falling interest rates,” said Daren Blomquist, senior vice president at RealtyTrac.

“The average interest rate on a 30-year fixed rate mortgage is down 37 basis points from a year ago, while annual wage growth accelerated compared to a year ago in 72 percent of the markets we analyzed and annual home price growth slowed compared to a year ago in 68 percent of the markets, including bellwether markets such as Los Angeles County, Miami-Dade County, Brooklyn, Dallas County, and San Francisco County.”

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

http://www.realtytrac.com/

Jennifer von Pohlmann

Sr. Public Relations Manager

Office: 949.502.8300 ext 139

jennifer.vonpohlmann@realtytrac.com

HFF arranges financing totaling $46.2 million for two multi-housing communities in Plano, TX

  

Mona Carlton

DALLAS, TX, June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged financing totaling $46.2 million for Summer Meadows and Summers Crossing, two garden-style multi-housing communities totaling 683 units in Plano, Texas.

HFF worked exclusively on behalf of the borrower, an affiliate of Milestone Apartments Real Estate Investment Trust (Milestone), to place two 10-year, fixed-rate loans with Lincoln Financial.  Loan proceeds were used to refinance existing debt on the properties.

Summer Meadows is situated on 21.62 acres at the southeast corner of Spring Creek Parkway and Ohio Drive, just east of the $2 billion Legacy West mixed-use development. 

Situated on 15.71 acres, Summers Crossing is located at the corner of Preston Road and Dexter Drive to the north of the President George Bush Turnpike.  Both properties provide convenient access around the Dallas-Fort Worth Metroplex via major transportation arteries, including State Highway 121, Dallas North Tollway, President George Bush Turnpike and U.S. Highway 75.

Michael Cosby

 Both garden-style assets offer a mix of one- and two-bedroom floor plans with a combined occupancy of approximately 95 percent.  

In addition to a prime location in one of Greater Dallas’ best school districts, the communities offer amenities such as clubhouses, swimming pools, hot tubs, fitness centers and covered parking.

HFF’s debt placement team representing Milestone was led by senior managing director Mona Carlton and associate director Michael Cosby.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

www.milestonereit.com

HFF closes $8.42 million sale of Las Vegas Sprouts Farmers Market store

David Zacharia

 NEWPORT BEACH, CA, June 23, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $8.42 million sale of a single-tenant, 57,794-square-foot building fully leased to Sprouts Farmers Market in Las Vegas, Nevada.

HFF marketed the property on behalf of the seller, Haggen Property Holdings, LLC.  ValueRock Realty Partners out of Irvine, California, purchased the asset.  This is now the second Sprouts location owned by ValueRock.

Situated on 7.14 acres at 7530 West Lake Mead Boulevard, the location provides easy access to Interstate 95 and is set between the affluent Summerlin community and the Las Vegas Strip.

 The property benefits from a dense population of more than 410,000 residents within a five-mile radius and it has frontage along Lake Meade Boulevard, which sees approximately 39,805 vehicles per day.

The HFF investment sales team representing the seller was led by Nick Foster in conjunction with local Nevada broker David Zacharia of DZ Net Lease Realty, LLC.

“This was an exceptional opportunity to own an extremely well-located retail property leased to one of the nation’s top-performing grocery operators on a long-term basis,” Foster said.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com

29th Street Capital Expands Into Orlando; Firm Hires Bill McConaghy to Seek Value-Add Apartment Deals in Central and South Florida

Bill McConaghy

Orlando, FL (June 23, 2016) – Bill McConaghy has joined 29th Street Capital (29SC) as Vice President of Multifamily Acquisitions for Florida.

 McConaghy is responsible for all facets of the privately-held real estate investment and advisory firm’s multifamily acquisitions and asset management strategies in the state.

His first task will include helping 29SC expand into the Orlando market, acquiring value-add apartment communities there, and in Central and South Florida.

“We are extremely excited to have Bill join us and expand our national footprint by opening our tenth office,” said 29th Street Capital Managing Director Robert Bollhoffer.

“Bill has many years of experience in the Florida market and a great fundamental understanding of the multifamily acquisition and management process. 

"We look forward to growing our platform in Florida with him and bringing our investors the types of transactions that they have come to expect from our group.”

McConaghy is a 13-year veteran of Florida’s commercial real estate market. Most recently, he was President of his own consulting and brokerage firm, Strategic Acquisition Initiatives, Inc.

His duties included serving as Vice President of Economic Development at consulting firm Strategic Development Initiatives, Inc., or SDI, where he worked on CRA economic policy and Public Return on Investment (PROI) model development and underwriting analysis.

Robert Bollhoffer

 He also led a multi-million dollar industrial acquisition fund for another client. Before that, he spent two years as Assistant Vice President of Acquisitions for private equity fund Laramar, where he was instrumental in creating a Florida acquisition strategy resulting in the addition of almost $200 million of multifamily properties and bank notes to the firm’s portfolio. 

“What an amazing opportunity to join this emerging entrepreneurial team,” McConaghy said. “29th Street Capital is focused primarily on value-add multifamily acquisitions. We are starting with Central Florida and surrounding areas and are open to all major and secondary Florida markets for the right opportunity.”

In addition to sourcing and completing acquisitions, his responsibilities at 29SC will include complete oversight of the projects inclusive of selecting third-party management, overseeing all capital projects, marketing/design and dispositions.

Formed in 2009, 29SC is a privately-held real estate investment and advisory firm that employs a value-added investment strategy on properties that are below the radar of institutional peers. 29SC’s current portfolio consists of 6,000 units and it has acquired over 7,400 units across its nine offices in the U.S. Investments typically require approximately $2 to $12 million of equity per deal, and involve the acquisition or recapitalization of real estate assets, portfolios or platforms.

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

Terri Thornton

Partner, Thornton Communications

p:404-932-4347 | e:Terri@TerriThornton.com | w:www.TerriThornton.com

www.29thstreetcapital.com.

Richard Stanard Joins Capital Square 1031 as Chief Financial Officer

Richard Stanard

RICHMOND, VA (June 23, 2016) - Capital Square 1031, LLC, a leading sponsor of replacement property for Section 1031 exchanges, announced today that Richard Stanard has joined the firm as chief financial officer.

Stanard joins Capital Square 1031 from HITT Contracting Inc., located in the Northern Virginia/D.C. area, where he spent 13 years as chief financial officer and treasurer.

During his tenure, he was responsible for finance, accounting and treasury operations during a period of quick growth, raising annual revenue to $1 billion from $200 million. Additionally, he helped create a privately-owned commercial real estate portfolio with a total capitalization in excess of $700 million.

“Rick is a consummate professional with more than three decades of real estate experience in finance, capital and treasury operations,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.

 “Rick joins Capital Square 1031 during a period of rapid growth, when key systems are being development for the acquisition, finance, management and ultimate sale of upwards of a billion dollars of real estate. Rick has established a long and successful track record of success throughout his career.  I couldn’t be happier to welcome him to the Capital Square team.”

Louis Rogers

Prior to HITT, Stanard served as vice president of financial services at The Robert Martin Company, a private real estate owner, developer and manager with more than seven million square feet of mixed New York commercial property.

While with the firm, Stanard supervised accounting, finance and IT operations. Previously, Stanard was a treasurer with First Winthrop Corporation (FWC) in Boston, responsible for a six-million-square-foot acquisition and syndication valued at $757 million, and $336 million of private equity.

Prior to FWC, Stanard was the project controller and regional director at Urban Investment and Development in Boston, where he was responsible for a $600 million mixed-use real estate development project, among others. Stanard also spent time as a senior management consultant with Arthur Young & Co., now Ernst & Young.

He earned dual bachelor’s degrees with honors in accounting and finance from Southern Illinois University.

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

Julie Leber

Spotlight Marketing Communications

949.427.5172, ext. 703

julie@spotlightmarcom.com

www.CapitalSquare1031.com.

Lexington Homes Kicks Off Sales At Park Ridge Reserve, A Gated Townhome Community In Park Ridge, IL

 

Park Ridge Reserve, Park Ridge, IL

 CHICAGO (June 23, 2016) — Following on the heels of quick sales at Park Ridge Place, its gated community of 16 townhomes in the upscale suburb of Park Ridge, Lexington Homes has announced it will begin pre-construction sales on 25 additional townhomes at Park Ridge Reserve. 

Construction will begin in July with first deliveries scheduled for early 2017.

Located at 1200 W. Elm Street, Park Ridge Reserve is conveniently located less than a mile from downtown Park Ridge, a thriving retail district that consists of a variety of restaurants, shops, the Park Ridge Public Library, Metra station and the historic Pickwick Theatre. 

Jeff Benach

Park Ridge Reserve will offer buyers upscale new-construction townhomes with up to three bedrooms priced from the $370,000s. By comparison, many single-family homes in the suburb are priced well over $1 million.

Only 15 miles from downtown Chicago, Park Ridge offers small-town charm with the convenience of city living. It’s consistently ranked high in the best places to live and recently tied for first place in Movoto’s “10 Best Chicago Suburbs To Live In.”  

“Park Ridge is one of those rare Chicago suburbs that is close to just about everything,” said Jeff Benach, co-principal of Lexington Homes.

“Not only is Park Ridge Reserve within walking distance to Park Ridge’s bustling downtown, but you also can be at O’Hare International Airport in less than 10 minutes. The shopping and entertainment destinations in the Rosemont entertainment district and downtown Chicago are also just a short drive.”

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

Kelly Shumaker, kshumaker@taylorjohnson.com, (312) 267-4519

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527