TAMPA, FL - Robbins Property Associates, along with their investor partner Electra America of Palm Beach, FL, has acquired 12 multi-family residential communities to add to their rapidly expanding portfolio. This brings the number of properties under ownership and management to 57, with 16,689 total apartment homes.
The properties will benefit from multi-million dollar makeovers, providing upgraded living environments including new kitchens and baths, fixtures, lighting and flooring.
“This is an important step in growing our portfolio in the best locations in North Carolina and Virginia,” said Joe Lubeck, CEO of Electra America and a partner in REM. “We are excited to begin work on the fantastic improvements we have planned, and we look forward to giving our residents first class homes, amenities and service.”
Berkadia Commercial Mortgage, LLC, arranged for attractive financing through Freddie Mac. For more information, visit www.robbinspropertyllc.com
About Robbins/Electra America: Robbins/ Electra America, LLC, (REM) is a joint venture between Robbins Property Associates and Electra America. REM is a private owner-operator, providing services including apartment management, in-house due diligence, property acquisition and disposition, and construction project management. Founded in 2009 with the objective to provide superior service, it has become a leader in the multi-family housing management industry. Along with their equity partners, the company currently owns 57 communities with over 16,680 units in Georgia, Florida, Maryland, North Carolina, Texas and Virginia.
Based in Tampa, FL, and active throughout the Southeast and Texas, REM prides itself on both customer and employee satisfaction. They have been named a top employer by the Tampa Bay Times four consecutive years since 2013. The combined experience of onsite and corporate staff is what provides REM with its competitive edge, and why REM is a leader in the apartment management and investment industries. For more information about Robbins/Electra America, visit www.robbinspropertyllc.com