CURRENT ASSETS UNDER MANAGEMENT

  • SOUTH BAY PARK PORTFOLIO

    Properties: 3

    Buildings: 91

    Units: 506

    Acquired: June 2017

    Location: Torrance, CA


    Acquired in June 2017, the South Bay Park Portfolio is a 506-unit apartment portfolio consisting of 3 separate properties throughout 91 total buildings. The properties run over a mile long in Torrance, California, a rental market in high demand. Prior to acquisition, the properties within the portfolio were underutilized, as effective rents were over 50% below market. In order to move rents in-line with the market, SHP plans to enhance the portfolio by preserving the well-maintained outdoor pools and attractive exteriors while renovating the outdated interiors. The renovation scope for the unit interiors includes new kitchens with quartz countertops, waterfall edges and full slab quartz backsplashes, contemporary subway-tiled bathrooms, in-unit washer/dryers, and wood-inspired vinyl plank flooring throughout. In a location with very few renovated multifamily products and growing demand, the South Bay Park Portfolio is a rare offering in its market.


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  • Marathon Towers

    Units: 94

    Acquired: March 2017

    Location: Los Angeles, CA


    Located in Hollywood, California, Marathon Towers is a 94-unit apartment complex purchased in March 2017. Acquired at a price well below market value, the property presented an excellent value-add opportunity. Strategic Housing Partners, LLC (“SHP”)’s redevelopment plan includes complete exterior and interior renovation, as well as the addition of a number of desirable amenities including an outdoor pool and lounge, fitness center, game room, and on-site leasing office. Designed by the well-known KFA architects, the facade will feature a distinctive black and white modernist pattern, making the building a standout in the area and appealing to the young, creative community in Hollywood.


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  • SAN FERNANDO VALLEY PORTFOLIO

    Properties: 14

    Units: 592

    Acquired: July - December 2016

    Location: San Fernando Valley, CA


    Comprised of 14 apartment buildings, the San Fernando Valley Portfolio is located in Panorama City, North Hills, Van Nuys, and Canoga Park; all within Los Angeles County. Acquired off-market between July-December 2016, the portfolio represents an excellent opportunity to reposition the properties through interior and exterior renovation. The Interiors will feature upscale finishes such as new kitchens with granite countertops, and wood-inspired vinyl plank flooring throughout, while the exteriors will feature wood cladding, which is unique in this market. Designer paint schemes complement the engineered wood cladding, offering a distinctive and memorable exterior style. Each newly landscaped garden-style community is oriented around a central pool or recreational area.


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  • STERLING PORTFOLIO

    Properties: 6

    Units: 71

    Acquired: May 2016

    Location: Brooklyn, NY


    Constructed between 1908-1925, the Sterling Portfolio is comprised of six pre-war properties located in the Park Slope, Prospect Heights, and Ditmas Park neighborhoods of Brooklyn, New York. The portfolio encompasses 71 total units acquired off-market in May 2016. Leverage was built-in from the strength and desirability of the market, based on Brooklyn’s average 8.5% year-over-year growth in residential rents during the preceding 5 years. The value creation proposition was enhanced by the fact that rents were priced well below market at acquisition. The preservation of the pre-war facades combined with the modern interior renovations has resulted in a unique product, increasing demand and maximizing returns.


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  • 1836 NORTH GRAMERCY PLACE

    Units: 28

    Acquired: January 2016

    Location: Los Angeles, CA


    Acquired in January 2016, 1836 Gramercy is a vintage 28-unit apartment building located in Hollywood, California. Rents were well below market value at acquisition, presenting the opportunity to convert 1836 Gramercy into a boutique luxury apartment building. Unit interiors have been completely renovated with modern finishes such as new kitchens with quartz countertops and subway-tiled backsplashes, freestanding showers, in-unit washer/dryers, and wood-style vinyl plank flooring throughout. Amenities include a pool centered around an outdoor lounge, and unique to the area, the facade features grey stucco with vertical wood cladding accents, matte black windows and horizontal wood-cladded balconies.


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  • 1425 NORTH CRESCENT HEIGHTS BOULEVARD

    Units: 24

    Acquired: September 2015

    Location: West Hollywood, CA


    Located at the corner of North Crescent Heights Boulevard and Sunset Boulevard, 1425 Crescent Heights is a 24-unit apartment building situated on one of the most iconic streets in Los Angeles. Prior to acquisition in September 2015, this vintage property had never been updated, creating an excellent repositioning opportunity due to its location and the local demand for luxury apartment homes. To maximize the proposition, the renovation plan for the exterior, interiors, and amenities are extensive. Designed by the well-known PSL Architects, the facade will feature tan horizontal wood cladding, a black and white design accent, and wood- cladded balconies. The interiors will feature new layouts to create more open and upscale floor plans while the amenities will include a modernized pool, outdoor lounge and barbecue, and fully equipped fitness center. Views from the interiors and balconies encompass the Hollywood Hills, downtown LA, and the Chateau Marmont.


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  • CLINTON GRAND PORTFOLIO

    Properties: 4

    Units: 126

    Acquired: April 2015

    Location: Brooklyn, NY


    Acquired in April 2015, the Clinton Grand Portfolio consists of a city block of apartment buildings in Brooklyn, NY totaling 126 units. 80% of the units had never been renovated and were renting at a price exponentially below market value, creating an instant value-added proposition at acquisition. The historical facades were preserved while interior renovations included quartz countertops, bathrooms with custom tilework, in-unit washer/dryers, and French oak finished floors. Conveniently located with unbeatable access to major commuter and rail lines, the location is one of Brooklyn’s most desirable. The buildings are walking distance to major neighborhood attractions such as Barclays Center, Brooklyn Cultural District, Pratt University, and Prospect Park.


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  • 409 PALM DRIVE

    Units: 17

    Acquired: May 2014

    Location: Beverly Hills, CA


    Located within the renowned 90210 zip code, blocks away from Beverly Hills’ iconic Golden Triangle, 409 Palm Drive is a 17-unit apartment building acquired in May 2014. The interior renovation plan included double door unit entry, Italian carrera waterfall countertops, custom- tiled bathrooms, and in-unit Bosch washer/dryers. Exterior renovation focused on preserving the building’s historical French facade while its Italian carrera marble entry and custom wood- panelled interior corridors communicate the opulence and sophistication of both the design and location.


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PAST RELEVANT RESIDENTIAL PROJECTS

  • THE BIARRITZ

    Units: 22

    Acquired: June 2013

    Location: Santa Monica, CA


    Located on the highly sought-after San Vicente corridor, moments from Ocean Avenue and the Santa Monica stairs, The Biarritz is a 22-unit apartment building acquired in June 2013. The interior renovation features luxurious finishes such as Italian carrera waterfall countertops and mosaic carrara marble bathroom tiles. The exterior renovation preserved the historic facade and included an updating of the existing garden style pool and addition of an expansive outdoor lounge.


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  • 53 GREENE

    Units: 5 and retail

    Acquired: April 2013

    Location: New York, NY


    Located in SoHo’s Cast Iron District and converted with meticulous attention to detail, 53 Greene is a high-end, 22,000 square foot residential condominium with ground floor retail. Acquired in April 2013, 53 Greene offers a modern take on the traditional loft offering, with five full-floor residences including a duplexed penthouse. Amenities include a virtual doorman and private storage.


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  • GARDNER APARTMENTS

    Units: 17

    Acquired: February 2012

    Location: West Hollywood, CA


    Located in the affluent and hip neighborhood of West Hollywood, this 17-unit building was acquired in February 2012. Exterior renovation included custom cladded balconies and exterior walls, a stamped wood concrete common area, and acrylic subway wall at the building entrance. Amenities include a fully equipped fitness center featuring a spin room while interior upgrades include luxurious finishes, such as wood-accented fireplaces and loft floorplans with private rooftop patios.


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  • EDGEMONT APARTMENTS

    Units: 42

    Acquired: February 2012

    Location: Los Angeles, CA


    Centrally situated at the nexus of Silverlake, Los Feliz, and Hollywood, The Edgemont Apartments has undergone complete renovation and is now positioned as one of the few multifamily residential properties in the area to provide residents with a modern, yet elegant residence at a highly competitive price point. The renovation plan for this 42-unit complex consisted of creating a 40-foot engineered wood exterior facade, a custom 12x24 tile entry and wood-cladded entry wall, and adding an on-site leasing office with multicolored mosaic wall. Common area improvements include Bolyu carpet tiles in hallways and amenities such as a fitness center, and a rooftop deck. Unit interiors feature sleek design including Honde black granite countertops, lucite mosaic backsplashes, and custom finished cabinetry doors. Located within walking distance of the Metro Red Line, Edgemont Apartments is a short bike ride away from LA’s most eclectic areas, including Los Feliz Village, Sunset Junction, and Franklin Village.


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  • WINDERMERE

    Units: 375 and retail

    Acquired: 2010

    Location: New York, NY


    Windermere is 375-unit, pre-war apartment building located on the Upper West Side of Manhattan, acquired in 2010. The unit interiors feature luxurious modern finishes while the amenity spaces include two expansive roof-decks, Sky Garden and Sky Terrace, and an indoor Sky Lounge. Also featuring a doorman-attended lobby, concierge services, an oversized lap pool, fitness center, and private massage rooms; the Windermere offers the best in upscale residential living.


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  • GREYSTONE

    Units: 363

    Acquired: 2007

    Location: New York, NY


    Greystone is a historic 363-unit apartment complex bringing boutique hotel-style sensibility to residential rental living on the Upper West Side of Manhattan. Acquired in 2007, the elegant building features a doorman-attended lobby, landscaped rooftop terrace with tenant gardens, private lounge, and fitness center. The preservation of the original 1922 facade combines with the contemporary, renovated unit interiors to create a highly desirable residential asset.


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  • THE ELEMENT

    Units: 198

    Acquired: 2006

    Location: New York, NY


    Acquired in 2006, The Element is a lavish, 34-story glass tower condominium composed of 198 luxury units, located in the heart of Manhattan’s Columbus Circle West. Offering an unprecedented array of services and amenities, The Element includes a landscaped circular drive, valet parking garage, spacious spa and pool, fitness center, yoga studio, and indoor basketball and squash courts. With approximately 12,000 square feet of outdoor space, The Element boasts its own Great Lawn, social lounge, and sundeck. The children’s playroom with adjoining outdoor playground is outfitted with toys and accessories from FAO Schwartz and weekly activity classes hosted by Jodi’s Gym.


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  • 15USW

    Units: 36 and retail

    Acquired: 2006

    Location: New York, NY


    15USW is a 112,000 square foot redevelopment of a previously 80,000 square foot commercial building. Acquired in 2006, 15USW is now a 36-unit condominium with luxury retail space. The reconstruction of the facade into a sleek, tinted glass tower with black zinc accents fronts 6 floors of unique penthouses featuring oversized terraces and gas fireplaces. The 36 residences and amenity spaces are custom designed by renowned interior designer Vincent Wolf, with artisan kitchen and bathroom fixtures manufactured by Sherle Wagner. 15USW’s amenities include a 24-hour doorman, onsite concierge services by Luxury Attaché, valet parking, spa, 50’ lap pool with oversized whirlpool, fitness center, and yoga studio.


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  • AXIS

    Units: 718 and retail

    Acquired: 2005

    Location: Miami, FL


    Located in the heart of Brickell Village in downtown Miami, AXIS is a 1,550,000 square foot, two-tower high-rise luxury residential condominium complex. The project was acquired in 2005 and includes 718 luxurious condominium units and 20,000 square feet of retail space. Amenities include a full-service concierge, valet parking, a residents’ lounge, media room, and children’s playroom. Recreational offerings include two resort-style infinity pools, spa, and fitness center.


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  • THE OLCOTT

    Units: 162

    Acquired: 2004

    Location: New York, NY


    With over 225,000 square feet of land, The Olcott is a full-service pre-war condominium building located on the most iconic street of the Upper West side of Manhattan. Built in 1924 as a hotel, The Olcott was acquired in 2004 and converted into a 162-unit luxury condominium. The landmark building features a beautifully restored grand lobby and includes amenities such as a private resident’s dining room, children’s playroom, cold storage, fitness room, and garage. Apartments at The Olcott are a blend of tastefully restored and preserved pre-war architectural details with modern finishes.


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  • 90 WEST

    Units: 409 and retail

    Acquired: 2003

    Location: New York, NY


    90 West is a historic conversion of an office building to a 409-unit luxury apartment complex located in NYC’s financial district, just south of One World Trade Center. The original property, built in 1907, was destroyed by the 911 terrorist attacks but was meticulously restored upon acquisition in 2003. Designed by Cass Gilbert, the renowned designer of the Woolworth and New York Life Building, the property features a unique granite and terracotta facade, with elegant archways and a vaulted lobby. The ground floor of the property consists of approximately 9,000 square feet of retail space on West Street, facing the 9/11 Memorial.


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