Pensam Capital acquires 2,690 units in the first half of 2013

Pensam Capital closed on the acquisition of a six property portfolio located throughout the Southeast and Midwest. These acquisitions broaden Pensam’s geographic portfolio by entering into new markets. The properties have been institutionally owned and offer Pensam significant value-add opportunities in stable markets throughout Florida, South Carolina and Iowa.

Additionally, Pensam Capital closed on the acquisition of four properties located throughout Florida, Texas and Indiana.

Lo Garto is a 188-unit garden style apartment community located in Dunedin, Florida. The property, built in 1973, presents a unique opportunity to acquire a well-located, low-density multifamily asset. Pensam is planning property enhancements to amenity areas, clubhouse and interior upgrades.

St. Andrews and Montclair are two garden style apartment communities located in Dallas, Texas. The 312 and 324 unit properties present a great opportunity to acquire Class A, well-located multifamily assets in Dallas. Pensam Capital is planning properties enhancements to amenity areas, clubhouse and interior upgrades.

Carmel Landing, a 296 unit garden style community located in Carmel, Indiana. The property was built in two phases, phase I – 1994, and Phase II – 1996. Carmel Landing broadens Pensam’s geographical portfolio by entering Indiana market. Pensam is planning property enhancements to the property’s amenity areas, clubhouse and interior upgrades.

Michael Stein Speaking at Crittenden Real Estate Finance Conference

Michael Stein, a Principal of Pensam Capital, will be a moderator at the 2013 Crittenden Real Estate Finance Conference in Miami, Florida. Stein’s featured session is titled “Multifamily Investment Opportunities.” The conference will take place September 18 – 20, 2013 at the Ritz Carlton South Beach. The Crittenden Real Estate Finance Conference is a two and a half day event for Real Estate professionals. The event includes educational sessions and networking opportunities to aid in the growth of your business. Each session is facilitated by the industry’s leading executives.

Michael Stein Speaking at Crittenden Multifamily Conference

Michael Stein, Principal of Pensam Capital, will be a moderator at the 2013 Crittenden Multifamily Conference in Dallas, Texas. Stein’s featured session is titled “Creative Value-Add Strategies.” The conference will take place March 17 – 19, 2013 at the Ritz Carlton Dallas. The Crittenden Multifamily Conference is a two and a half day event for Multifamily professionals. The event includes 8 hours of educational sessions and several networking opportunities to aid in the growth of your business. Educational sessions cover a variety of multifamily management, finance, development and investment topics. Each session is facilitated by the industry’s leading executives.

Pensam Acquires Class A Multifamily Community in Fort Worth, TX

Pensam Capital closed on the acquisition of Republic Deer Creek, a 336 unit multifamily community in Fort Worth, Texas. The 2012 built property is located in the dynamic Dallas-Fort Worth metropolitan area. The property has best-in-class residential amenities including a state of the art fitness center, a resort style swimming pool, an executive business center, sand volleyball courts and private yards on select units.

Pensam plans to add value by implementing modest unit interior upgrades including adding wood flooring, landscape improvements and other amenity upgrades. The property is within minutes of major retail centers as well as some of the area’s largest employers such as Miller Brewing Company and Alcon Laboratories.

Michael Stein, a Principal of Pensam Capital comments, “We are pleased to acquire our fourth property in the Dallas-Fort Worth MSA. Deer Creek represented a unique opportunity to acquire a Class A asset well below replacement cost. This acquisition takes Pensam’s portfolio to over 6,000 units in strategic growth markets throughout the United States.”

Pensam Acquires Multifamily Community in Austin, Texas

Pensam Capital closed on the acquisition of The Grove, a multifamily community in Austin, Texas. The Property is centered in the trendy “SoLa” South Central sub-market, one of Austin’s most popular retail and entertainment corridors. The Grove is located minutes from the Central Business District and the University of Texas.

Pensam is planning on continuing a major interior renovation program which includes wood flooring, stainless steel appliances and designer lighting. Exterior improvements include the addition of a community Zen garden, bark park and lounge areas.

Michael Stein, Principal of Pensam Capital comments, “This represents our second acquisition this year in the dynamic Austin market. The Grove is a unique property in an irreplaceable location within the CBD. We continue to acquire multifamily assets throughout the country where we can add value through capital improvements and strong management.”

Pensam Acquires 326 Unit Multifamily Community

Pensam Capital closed on the acquisition of The Ridge, a 326-unit apartment home community in Austin, Texas. The Property is located in an in-fill A location minutes north of downtown Austin and on the University of Texas bus line. The Ridge is an irreplaceable site situated across from a premier retail center and in close proximity to Austin’s major employers including Time Warner Cable, IBM, Dell Computer and National Instruments, among others.

Pensam is planning a major repositioning of the asset including premium interior and exterior enhancements, the addition of a state of the art fitness center and a resort style pool to further solidify the Property’s best in class position in the sub market.

Michael Stein, Principal of Pensam Capital comments, “We are pleased to acquire our first of several properties in the Austin market. This transaction represents a unique opportunity to reposition a 1980′s built property in an A location. This acquisition solidifies our position in the Texas market with properties in all of the major markets including Dallas, Houston, San Antonio and Austin.”

Pensam Acquires 270 Unit Class A Multifamily Community

Pensam acquires Fountains of Conroe, 270 Unit Class A Multifamily property. The Property is conveniently located near major highways providing access to over 1,650 businesses located in The Woodlands, downtown Houston and other major employment centers including Conroe Regional Medical Center and the Conroe Independent School District.

Pensam and its partner BH Management are planning interior and exterior enhancements to strengthen the Property’s position in its submarket.

Michael Stein, Principal of Pensam Capital comments, “The Fountains compliments our portfolio by adding a high quality, stabilized asset in the high growth Texas market.” Pensam continues to grow its 5,000 unit portfolio through acquisitions and redevelopment across the United States.

The Real Deal Journal features Pensam Residential

By Adam Fusfeld –  The Real Deal

Miami-based Pensam Capital closed on its investment in a portfolio of four rental apartment complexes totaling 925 units in Texas and Iowa. The complexes are managed by BH Management, Pensam’s longtime partner in its multi-family investment strategy. BH presented the investment opportunity to Pensam, which now has a stake in more than 2,400 units nationwide. “This investment represented an excellent opportunity to acquire strong income-producing assets with a proven track record of stable returns in markets where our partner has a major management footprint,” said Pensam principal Michael Stein.