The Habitat Company's CEO and President Mark Segal talks about the CAA and The Habitat Company's committement to residents, including amenities, surrounding area and finishes in the apartments. "Convenience and service are what sets The Habitat Company apart."
CHICAGO (January 12, 2012) - The Habitat Company announced the
start of construction of a 43-story, 450-unit luxury high rise in
Chicago in a joint venture with Multi-Employer Property Trust
(MEPT) and a major institutional investor. This luxury
multifamily community will be located at 360 W. Hubbard Street in
Chicago's vibrant River North neighborhood, across the street from
the iconic East Bank Club. This latest project adds to the more
than 17,000 residential units developed by The Habitat Company in
its 40 year history. Bentall Kennedy, one of the
largest North American real estate advisors, represents its
clients, an institutional investor and MEPT, a $5.4 billion real
estate equity fund, in the transaction.
"We are pleased to begin our latest project which builds on our forty years of experience and understanding of the market to create what we believe will be our finest apartment development," said Daniel Levin, Founder and Chairman of The Habitat Company.
The rental residences will be smoke-free and will include top-of-the-market finishes, amenities, and services, including 29,000 square feet of indoor and outdoor amenity space to accommodate year round activities. The development will be seeking LEED Silver certification under the Leadership in Energy and Environmental Design (LEED) system of the U.S. Green Building Council.
The project's architect is Solomon, Cordwell, Buenz &
Associates which has designed many distinctive residential
buildings around Chicago, including The Habitat Company's Kingsbury
Plaza development located across the street. The general
contractor for the development is James McHugh Construction Company
which has built some of the most recognized properties in the
Chicago skyline, including many of The Habitat Company's prior
"For The Habitat Company, there are many exciting aspects to this development, not the least of which is our partnership with Bentall Kennedy, one of the most respected North American institutional real estate advisors, a major institutional investor and MEPT," said Matt Fiascone, Senior VP of Finance and Investment for The Habitat Company.
Upon its completion in late 2013, the development will be managed by The Habitat Company. The Habitat Company currently manages for its own account and for third parties over $2 billion of assets comprised of more than 20,000 residential units of market rate, affordable, condominium, student and public housing units in Illinois and four other states.
When combined with its recent acquisition of 480-unit and 360-unit multifamily assets in Ann Arbor, Michigan, The Habitat Company concluded transactions in December having a total value of close to one-quarter of a billion dollars.
CHICAGO (January 12, 2012) - The Habitat Company LLC announced
the acquisition of two Class A multifamily assets in Ann Arbor,
Michigan, in a joint venture with Goff Capital Partners, L.P.
for an aggregate purchase price of more than $85
The 360-unit Lake Village of Ann Arbor Apartments and the 480-unit Windemere Park Apartments represent two of the premier assets in the strong Ann Arbor market. The Habitat Company has managed both assets for its client, Northwestern Mutual Life Insurance Company, since 1999 and 2004, respectively.
"Given our knowledge of these assets and their competitive position in the strong Ann Arbor market, we recognized the great investment opportunity that they present," said Matt Fiascone, Senior VP of Finance and Investment for The Habitat Company. "These acquisitions fulfill our objective of pursuing investment opportunities that can benefit from our management platform," continued Fiascone.
"We are pleased to be partnering with The Habitat Company, whose strong capabilities in the multifamily space are well-known," said Conrad Suszynski, Managing Principal of Goff Capital Partners, L.P. Goff Capital Partners is a Fort Worth based private equity firm that concentrates on real estate related assets.
The Habitat Company currently manages for its own account and for third parties over $2 billion of assets comprised of more than 20,000 residential units of market rate, affordable, student and public housing units in five states. When combined with the commencement of construction of its 43-story, 450-unit luxury high rise in Chicago, The Habitat Company concluded transactions in December having a total value of close to one-quarter of a billion dollars.
Seasoned real estate professional joins leading Chicago-based
multifamily development and management firm and makes immediate
This fall The Habitat Company LLC appointed Matthew Fiascone as its Senior Vice President of Finance and Investment to direct the creation and implementation of its investment and financing strategies for its acquisition and development activities. In December, The Habitat Company concluded development and acquisition transactions having a total value of close to one-quarter of a billion dollars.
"We brought Matt onto our team to help us to drive the growth of our company through both development and acquisitions, leveraging our experience and operating platform," said Mark Segal, President and CEO of The Habitat Company LLC. "We are thrilled to have him onboard and realize the immediate impact of his joining us."
In December, The Habitat Company began construction of a 43-story, 450-unit luxury high rise in Chicago's vibrant River North neighborhood, across the street from the iconic East Bank Club. This latest project adds to the more than 17,000 residential units developed by The Habitat Company in its 40 year history.
That same month, The Habitat Company closed on its acquisition of two Class A multifamily assets, the 360-unit Lake Village of Ann Arbor Apartments and the 480-unit Windemere Park Apartments, in Ann Arbor, Michigan for an aggregate purchase price of more than $85 million. The Habitat Company currently manages for its own account and for third parties over $2 billion of assets comprised of more than 20,000 residential units of market rate, affordable, student and public housing and condominiums in five states.
"I am pleased to have joined an organization with the strong team, experience and operating platform as The Habitat Company," said Fiascone. "These resources enabled us to quickly execute these investments. We have a solid foundation from which we can build relationships to carry our growth strategy forward," he continued.
Prior to joining The Habitat Company, Mr. Fiascone (48) served as Senior Vice President for Inland Real Estate Development Corporation where he was principally involved in over 150 real estate transactions involving properties valued at over $750 million, and where he also negotiated and managed over $350 million in joint ventures. In addition, Mr. Fiascone was named to Real Estate Chicago's inaugural "40 under 40" list of the most influential people in the real estate community under the age of 40.
Mr. Fiascone has a Bachelor's degree in Business and Economics from Bradley University. He is a member of Lambda Alpha (a Land Economics Honorary Society), the Urban Land Institute, and the Chicago Association of Realtors. Mr. Fiascone has been a frequent speaker and panelist for industry events.
The Habitat Company is pleased to announce that it has been selected as the property management company for 1225 Old Town, a 16-story, 250-unit luxury apartment building that is currently under construction at 1225 N. Wells Street in Chicago's Old Town neighborhood. Habitat was selected by developer Hines Interests in a joint venture with The Northwestern Mutual Life Insurance Company.
Development is underway for this first-class residential development which is slated to be delivered in late summer of 2012. The 1225 Old Town apartments will include many sophisticated amenities, including an expansive landscaped terrace with a pool, hot tub and fire pit, social lounge complete with demonstration kitchen and fireplace, as well as a 12-seat theatre room. Appealing finishes include hardwood floors in the living area, clean steel appliances and beautiful quartz kitchens. The apartments will have multiple layouts, ranging from studios to three bedroom/three baths. The average floor plan for a studio will be 550 square feet and a three bedroom/ three-bath unit will have up to 1,667 square feet of living space. An additional amenity is the 35,000 square feet of prime retail space located on the ground floor that will expand Wells street shop fronts and capitalize on this pedestrian-friendly neighborhood.
With an average of 24 years of experience in property
management, Habitat's Market-Rate Management Team, led by Sheila
Byrne, currently manages more than 5,500 market-rate apartments in
Chicago, Detroit, Ann Arbor and Oklahoma. For 40 years, the
property management company has focused on exceptional
responsiveness, customer service and drawing upon their rich
internal resources to address a wide range of property-related
matters - all of which they will apply to the management of the
1225 Old Town apartments.
"The Habitat Company is thrilled to partner with Hines on this exciting development," said Mark Segal, president and CEO of The Habitat Company. "We look forward to applying our deep market knowledge and bringing our proven best practices and innovation to the successful lease up and management of 1225 Old Town."