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The Habitat Company.


Q4 2015

The Habitat Company Expands Property Management Portfolio 18 Percent with Addition of 3,600 Units in Alabama

CHICAGO (November 23, 2015) - The Habitat Company, a leading multifamily property developer and manager, announced it has been selected by Goff Capital Partners as property manager for seven individual market-rate properties in Birmingham, Alabama and the surrounding area. Chicago-based The Habitat Company also serves as property manager for four other properties owned by Goff Capital Partners, totaling more than 2,000 units located in Ann Arbor, Michigan, St. Louis, Missouri and Tampa, Florida.

The assignment expands Habitat's management portfolio by more than 3,600 apartments, bringing the total number of units under Habitat's management to more than 23,000.

"This engagement demonstrates the importance of long-term, trusted relationships and the value in living up to our commitment to provide excellent service to both property owners and community residents alike, a hallmark of Habitat," said Matt Fiascone, president of Chicago-based The Habitat Company. "Not only does this expanded partnership with Goff grow Habitat's portfolio by nearly 18 percent, it adds 90 members to our team and serves as our entry into the competitive Birmingham market."

The seven Alabama properties are all garden-style communities and include:

  • The Park at Buckingham, 583 units in Homewood
  • The Park at Callington, 604 units in Birmingham
  • The Park at Carlyle, 649 units in Birmingham
  • The Park at Wakefield, 240 units in Hoover
  • The Park at Wellington, 168 units in Hoover
  • The Park at Hoover, 1,080 units in Hoover
  • The Park at Deerfield, 320 units in Hoover

 

"It's an exciting time to be entering the Birmingham real estate market, as Alabama was recently ranked a top state for business, colleges and one of the best places to live for recent graduates," said Sheila Byrne, executive vice president of property management at The Habitat Company. "We look forward to expanding our footprint into such an up-and-coming market, and offering the superior service that Habitat is known for to the residents of these seven communities."

This new assignment from Goff comes on the heels of Habitat's recent receipt of three 2015 CAMME (Chicagoland Apartment Marketing and Management Excellence) Awards, The Habitat Company was recently recognized by the Chicagoland Apartment Association in the categories of Property Excellence, Assistant to Property Manager and Maintenance Team. The CAMME Award is the most honored award given in recognition of superior contributions and exemplary achievements to Chicago's multifamily housing industry.

As part of the change in management, several of the portfolio properties will undergo planned capital improvements ranging from interior unit updates that include kitchen and bath remodels to exterior maintenance and renovation including modernized clubhouses, fitness centers and leasing offices at some communities.

Unit features across the portfolio vary but may include fully equipped contemporary kitchens, spacious walk-in closets and private outdoor space. Select units also feature floating plank flooring and full-size washer/dryer connections.

Various community amenities may include a fitness center, swimming pool with sun deck, lighted tennis court, sand volleyball court, clubhouse, pool table, children's playground, theater room, self-serve coffee bar and on-site laundry facilities.

In the coming weeks, residents of these seven Alabama communities will have access to several programs through habitat@home, which allows residents to make rent payments and request service online, and habitat extras including Habitat on Call, which guarantees service request responses within 24 hours, a Proud to Serve discount of 5 percent for teachers, veterans, mail carriers, police officers and firefighters, Stay with Habitat, a no-fee transition for residents moving from one Habitat community to another, and a resident referral program with incentives for referring a friend to a Habitat community.

 

For leasing information, visit www.habitat.com.


PRESS RELEASES

News page

The Habitat Company Starts Construction of 450-unit luxury high rise in Chicago

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 projects. "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.

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