Evergreen Real Estate Group Expands National Apartment Management Portfolio with Addition of 1,900-Units Across Multiple Markets

CHICAGI, IL - Chicago-based Evergreen Real Estate Group, a leader in the acquisition, development, rehabilitation and management of both affordable and market-rate multifamily housing, announced it has been retained over the past several months to manage 14 multifamily communities comprising a total of 1,931 units in Florida, Illinois, Minnesota, Vermont and Wisconsin. The assignments include a mix of market-rate homes and affordable residences for families, seniors and disabled individuals, expanding Evergreen’s national management portfolio to more than 11,500 units.

“We’re thrilled to welcome the residents and associates of these communities to the Evergreen family,” said John Kennedy, executive vice president of operations at Evergreen Real Estate Group. “The new additions to our portfolio include our first-ever properties under management in Florida and Vermont, continuing the geographic expansion of our platform, which now spans 11 states.”

The new management assignments include the following properties:

Florida

  • Sunrise Apartments – 160-unit affordable housing community in Pensacola, Fla.
  • The Moorings – 200-unit affordable housing community in Pensacola, Fla.

Illinois

  • Ann Rainey Apartments – 60-unit affordable senior housing community in Evanston, Ill.
  • Barwell Manor Apartments – 142-unit affordable housing community in Waukegan, Ill.
  • Ike Sims Village – 200-unit affordable senior and family housing community in Chicago
  • New Vistas II – 154-unit affordable housing community in Chicago
  • Schiller Place Apartments – 48-unit mixed-income housing community in Chicago

Minnesota

  • Blooming Glen Townhomes – 50-unit affordable housing community in Bloomington, Minn.
  • Cedar Hills Townhomes – 50-unit affordable housing community in Minnetonka, Minn.

Vermont

  • Eagle Crest and Falcon Manor Apartments – 125-unit mixed-income housing community in Williston, Vt.
  • Hawks Nest – 66-unit affordable senior housing community in St. Albans, Vt.

Wisconsin

  • Aspen Crossing Apartments and Townhomes – 365-unit affordable housing community in Milwaukee
  • Maplewood Commons – 82-unit affordable housing community in Fond De Lac, Wis.
  • New Hampton Gardens – 229-unit affordable senior housing community in Milwaukee

“These communities range from third-party fee management assignments to affiliated new-construction properties like Ann Rainey Apartments, which was developed by Evergreen and executed by our in-house construction team, Evergreen Construction Company,” said Kennedy. “Evergreen will also oversee substantial capital improvements at most of the other newly managed properties, in which owners will utilize Low-Income Housing Tax Credits (LIHTC) and other subsidies. These new projects represent a mix of unit types, including traditional apartments and rental townhomes. We look forward to working with our clients to deliver the exceptional residential experience for which Evergreen is known.”

About Evergreen Real Estate Group: Founded in 1999, Chicago-based Evergreen Real Estate Group is a fully integrated multifamily company that develops, acquires and manages affordable and market-rate multifamily apartments for both seniors and families across 12 states. Evergreen specializes in thoughtful, creative residential development solutions. From adaptive reuse of historic buildings to new development in cities and towns facing a shortage of affordable housing, Evergreen is led by a passionate, cross-disciplinary team of developers, architects, urban planners and attorneys who have come together to create high-quality apartment communities, often in collaboration with local municipalities and financial partners who share its vision of investing not just in real estate, but also the people who call our communities home. Evergreen currently owns and manages more than 11,500 units of multifamily housing. For more information on the company, visit www.evergreenreg.com

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