The Habitat Company Acquires Two Multifamily Assets in St. Louis

CHICAGO (November 13, 2012) - The Habitat Company announced the acquisition of two assets in the Creve Coeur submarket of St. Louis, Missouri in a joint venture with Goff Capital Partners, L.P. for an aggregate purchase price of $30 million.  These acquisitions mark the third and fourth assets in which Habitat has partnered with Goff Capital Partners in the past year.  In addition, The Habitat Company is the managing agent for Goff Capital Partners at a 500+ unit asset in Tampa, FL.
 
The 254-unit Edgewater Court Apartments and 105-unit Tuscan Villas Apartments are prime assets located in one of the most sought after submarkets in St. Louis.   These assets offer a value-add opportunity through both management improvements and renovations.    "By combining the location of these assets in a premier submarket and having healthcare as its economic driver with Habitat's industry leading operations platform, we create value for our investors.  These properties offer Habitat a perfect opportunity to continue to methodically expand our geographic footprint," said Matt Fiascone, Senior VP of Finance and Investment at The Habitat Company.  The assets were built in the late sixties and seventies and were renovated from 2005 to 2008.   Sitting on 23.5 acres, the properties share extensive amenities including private entrances, three outdoor pools, sand volleyball courts and a fitness center.  Additionally, the properties have great visibility, directly off a major thoroughfare and are close to transportation arteries and downtown St. Louis.

"We are pleased to continue to expand our partnership with The Habitat Company," 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 in assets comprised of more than 20,000 residential units of market rate, affordable, student, condominium and public housing units in six states.  Since December 1, 2011, The Habitat Company's total transaction value for acquisitions and development is approximately $260 million.  

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.