Noel Management and Silverado Interests Form New Partnership to Acquire 5,000 Multifamily Units in Select High-Growth Texas Markets

DALLAS, TX – Noel Management, a well-established property management company that has focused its 40 years in business on acquiring, managing, upgrading, and selling large-scale multifamily housing assets, announced a new partnership with Silverado Interests. The partnership, Silverado Noel Partners, builds upon successful legacies and proven successful histories of the two companies joining together. The partnership will focus on generating more value for investors by acquiring 5,000 multifamily units in select Texas markets, with a focus on Dallas and Austin. 

With their professional relationship spanning over a decade, Noel Management and Silverado Interests recently teamed up on multiple multifamily investment projects across the North Texas region, such as 4343 at The Parkway in Dallas, and Ashford Apartments in Carrollton. These two properties total 504 units valued at over 75 million dollars, with both properties exceeding their initial underwriting proforma. Based upon their success as a team, combined with opportunistic market trends, Silverado Noel Partners, already predicts great potential in their official partnership and plans to acquire substantial additional multifamily units within the next three years. 

Lenny Licht, CEO of Noel Management and managing partner of Silverado Noel Partners, stated, "We are excited to continue to expand Noel Management and Silverado Interests’ industry footprint with this partnership. Our joint venture, Silverado Noel Partners, focuses on maximizing revenues and N.O.I. and prudently managing expenses, resulting in our portfolio outperforming the area’s competition. North Texas is a prime housing market providing residents with unparalleled accessibility to major employers, retailers, nationally ranked schools, key regional suburbs, and so much more. We are very enthusiastic about the future of Silverado Noel Partners.” 

Silverado Interests is a Dallas-based, private equity real estate firm with over 90 years of combined experience across the commercial real estate industry, formed in 2008 by Rick and Dan Slaven. With approximately 100 real estate investments completed and funded, Silverado Interests has been very successful by building relationships, creating value, and transacting decisively. Silverado’s experience enables quick and efficient execution of all real estate transactions, provides timely results to all parties involved, and delivers value to all investors with flexibility, swiftness, and integrity. 

Silverado Interests finds itself in good company with Noel Management, a property management company formed in the mid-1980s by Lenny Licht, who began his career with the Henry S. Miller Company. During his tenure as Assistant to the President, and Vice-President of the Multifamily Division for the Miller S. Miller Management, the division grew from 1,100 units to over 7,000 units. Mr. Licht funneled this expertise to his own brain-child, Noel Management. The firm’s success lies in its proficiency in anticipating real estate trends within the multifamily market and developing a unique, aggressive strategy to capitalize on growing in-place cash flows. The senior management team, which includes industry veteran Stephanie Allen, brings a combined level of over 75 years of experience. Since its inception, Noel Management and its affiliates have owned, managed, brokered, and financed over 10,000 multifamily units, totaling 850 million-dollars in value. 

"As we continue to execute on our strategy of partnering with highly-skilled operators with proven track records, we didn’t need to look any further than Lenny Licht. Lenny has a deep understanding of market trends, combined with immense experience in multifamily housing. We look forward to executing an aggressive acquisition game plan, and delivering exceptional returns to our investment partners,” concluded Dan Slaven, Co-founder of Silverado Interests.

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