BOSTON, MA - West Shore LLC, a fully integrated multifamily real estate investment firm, announced the acquisition of three new properties: the 276-unit Mark at Chatham in Savannah, Georgia; the 301-unit 500 East Apartments in Daytona Beach, Florida; and the 315-unit Broadstone Lake Walk in College Station, Texas. The company completed the acquisitions of all three assets on December 30, 2020. With the addition of these acquisitions, West Shore now owns and operates 30 residential communities with 9,491 apartment units and well over $1.5 billion in value.
"We continue to expand our portfolio of multifamily assets with the addition of these three exceptional properties," said Steven P. Rosenthal, West Shore Chairman. "We are very pleased to grow our presence and leverage our knowledge in these key markets in Texas, Georgia, and Florida, positioning us well for much additional future growth."
"We are particularly proud to report that our growing portfolio continues to deliver superior operating performance." said Lee Rosenthal, President of West Shore. "These new acquisitions provide both location and amenities that offer long term value and are examples of West Shore's commitment to continued expansion."
The Mark at Chatham, located at 1475 Chatham Parkway in Savannah, Georgia, is a multifamily property centrally located minutes from the Savannah College of Art and Design (SCAD), and is proximate to historic Downtown Savannah and Savannah's largest employers. The units at this brand new community feature stainless steel appliances, quartz countertops, wood-style flooring, and designer finishes throughout. Extensive property amenities include a saltwater resort-style swimming pool, outdoor kitchen, game areas, fire pits, a state-of-the-art fitness center with yoga and cycle rooms, and a private pond. In Savannah, West Shore also owns and operates Grand Oaks at Ogeechee River, a 316-unit community, and Walden at Chatham Center, a 236-unit community that was acquired in September.
500 East Apartments, located at 1851 LPGA Boulevard in Daytona Beach, Florida, is a brand new community in the heart of Daytona Beach. The community features state-of-the-art amenities including a resort-style saltwater pool, covered loggia with lounge and TVs, porch swings, outdoor kitchen, fire pit, and ultramodern fitness center. The units have open concept floor plans with kitchen islands, gourmet kitchens with granite countertops and stainless-steel appliances, walk-in closets, USB outlets, and screened-in lanais. The community's prime location is just off of I-95 and is conveniently located near Daytona Beach International Airport, Daytona International Speedway, LPGA International Golf Course, World's Most Famous Beach, and Downtown Daytona Beach.
Broadstone Lake Walk is brand new community located at 8175 Atlas Pear Drive in College Station, Texas. The community will be integrated into the adjacent 8085 at Traditions community (a 657-unit property owned and operated by West Shore since 2018) to become Lake Walk at Traditions Apartments. The newly combined, best in class 972-unit residential community spans four unique luxury properties in Bryan-College Station. The Lake Walk at Traditions Apartments community, noteworthy for its greater regional access, consists of more than 50 one, two, and three bedroom floor plans. Units feature open concept floor plans with spacious 9-foot ceilings, wood-style flooring, chef-inspired kitchens, stainless-steel appliances, washing machines and dryers, spacious walk-in closets, private balconies, and wine refrigerators and beverage centers in select units. The sprawling, gated property also offers residents access to luxury amenities, including four resort-style swimming pools with poolside cabanas, four state-of-the-art 24-hour fitness centers with two virtual fitness and training centers, four clubhouses, an outdoor putting green, four dog parks, electric car charging stations, and outdoor gaming areas. The community is surrounded by world-class businesses, located in the master-planned Traditions Golf Community, in the heart of the Research Valley and Bio Corridor, near Texas A&M University, and next to Lake Walk Town Center. West Shore also owns and operates SoCo at Tower Point, a 318-unit community in College Station.