![]() Ken is a member of the Institute for Real Estate Management (IREM) and is a Certified Property Manager (CPM) candidate. Primary responsibilities include tenant and owner relations, supervision of building maintenance and administrative staff, vendor contracts and tenant build out. Ken’s experience includes being a leasing agent providing property management accounting services for single family residential rental homes, apartment communities, community associations and commercial properties including office, retail and medical buildings and overseeing the management of over 450 units. The firm has acquired more than 7,400 units since the start of the COVID-19 pandemic, including a 12-property portfolio that closed in December and totaled 3,662 units.Ken Gross III has been with DLP Realty since 2013. Ken joined the DLP Property Management team with 24 years of property management experience in South Eastern Pennsylvania. Ken is responsible for the day to day operations of the DLP Property Management portfolio. Prior to the TransCoastal 21 portfolio acquisition, RREAF had been busy within the multifamily sector in recent months. including Texas, Arkansas, Alabama, Florida, Mississippi, South Carolina, Tennessee and Georgia. The portfolio totals more than 14,000 units throughout the Sun Belt region of the U.S. Sowden also said in prepared remarks that the closing of the 21-property portfolio increases RREAF’s affordable housing portfolio to more than 50 communities. Building up a Sun Belt portfolio 2626 Park. RREAF’s in-house property management company, RREAF Residential, was also put in charge of 16 of the 21 communities, while DLP Real Estate Management will manage the other five. In general, RREAF’s renovation strategy includes upgrading the units by installing new floors, appliances and fresh paint alongside upgrades to the common area amenities, Sowden told MHN. Sowden told MHN that RREAF will implement unit renovations and improvements to the common areas and amenities, with specific renovation plans for each property. The entire 21-community portfolio totals more than 4,000 units in Mississippi, Alabama, Florida, Texas, Arkansas, Louisiana, Georgia and North Carolina with vintages that range from the 1960s to new construction. The acquisition of the final tranche in November includes two communities, one in Florida and one in North Carolina, Sowden told MHN. Sowden told MHN that the September acquisitions were followed by October’s acquisition of the second tranche that included three communities in Arkansas and three in Houston. ![]() ![]() The partnership acquired the portfolio in a three-phase transaction, with the acquisition of the first tranche of 13 communities in September. Kip Sowden, CEO of RREAF, told Multi-Housing News that the three partnering firms acquired the portfolio for a total of $534 million from Carter Funds, Southwest Resources and Seuba USA Corp. RREAF Holdings LLC, alongside DLP Capital and 3650 REIT, have closed on the final communities as part of a 21-property portfolio acquisition. ![]()
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