The Bainbridge Companies to Develop 220-Unit Apartment Community in Newark, Delaware

NEWARK, DE - National multifamily housing developer The Bainbridge Companies, in association with real estate private equity firm Pinecrest Partners, is expanding its footprint with development of Bainbridge Delaware, offering 220 apartments located within walking distance of the City of Newark’s vibrant Main Street corridor and the University of Delaware.

Based in Wellington, Florida with additional offices on the East Coast, Bainbridge has developed, acquired, and repositioned multifamily properties in Florida, North Carolina, New York, Maryland, Virginia, and Washington, DC. In 2012, the company delivered Campus Circle Tallahassee near Florida State University, and later won a Multi-Family Executive community of the year award.

Bainbridge’s latest development not only expands its geographical footprint into a new state, but also launches an innovative, highly-amenitized, technology-driven community designed to appeal to anyone who wants to live within walking distance of a major university.

“We believe that there is strong demand for full-service rental housing with pedestrian access to larger universities,” said Thomas J. Keady, President and Chief Operating Officer of The Bainbridge Companies. “This dynamic location offers myriad opportunities for employment, learning, culture, recreation, social interaction, and personal growth. To appeal to potential residents, we are incorporating a wide range of amenities that reflect how people live today and the increasing importance of technology in their lives.”

Located at 230 East Main Street, Bainbridge Delaware will be the only Class A full-service rental community within walking distance of the City of Newark’s vibrant Main Street retail and restaurant corridor and the nearby University of Delaware. Designed in an edgy, urban aesthetic, Bainbridge Delaware is scheduled to deliver beginning in early 2016. 

About The Bainbridge Companies: Founded in 1993, Bainbridge is a fully-integrated family of real estate companies engaged in the development, construction, management, acquisition and disposition of residential and commercial real estate. With more than 100 years of combined experience, the Bainbridge principals have developed, redeveloped, and/or repositioned more than 35,000 multifamily units. The firm’s full service real estate platform includes asset and property management, leasing, sales, marketing, renovation, construction and development. Based in Wellington, Florida, Bainbridge also has offices in Orlando, FL, North Carolina, the Washington, D.C. metro area, and NY tri-state area. For more information, visit www.bainbridgecompanies.com.

About Pinecrest Partners: Pinecrest Partners was formed in 2013 to provide a focused investment program targeted towards housing in close proximity to colleges and universities.  Pinecrest is an affiliated company of Perlmutter Investment Company (www.Perlmutter.net), a multi-disciplined real estate investment company established in 1998. The Company follows a “value added” strategy, supplying capital and expertise to create high-quality, purpose-built housing located adjacent or in close proximity to colleges and universities with good demographic and income metrics. Pinecrest executes its strategy through both joint ventures with highly qualified developers and operators, as well as through its own direct investment in housing developments. For more information, visit www.pinecrestUS.com