MEMPHIS, TN – Fogelman Properties, one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce that is acquisition activity grew more than 100% from 2018 to 2019, including more than 2,000 units across six multifamily communities over the past 12 months.
The Memphis, Tenn.-based company recently closed $135M in the first quarter of 2019 with the acquisition of Artesian on Westheimer, in Houston with DRA Advisors, and Crestmark Apartments in Atlanta with Thackeray Partners.
“This year we focused efforts on several key markets including Atlanta, Central Florida and major Texas metro areas,” says Mike Aiken, VP of Acquisitions at Fogelman. “Specifically, we elevated our portfolio with acquisition targets that allowed our company to leverage its vertically-integrated operating team and long-term, local presence in these markets.”
With the expanded portfolio and target of an additional $200M in acquisitions for the remainder of 2019, Fogelman is one of the most active buyers in the country. Fogelman currently manages more than 28,000 units across 10 states, totaling more than $4B of managed assets. The company’s national portfolio has experienced an average occupancy of 95% in 2018 and projected revenue growth of 3%.
About Fogelman: Fogelman Properties (Fogelman) is one of the country’s largest and most experienced privately- owned multifamily investment and property management companies. As a fully integrated company, Fogelman specializes in multifamily acquisitions, property management, construction management, and asset management. Founded in 1963, Fogelman operates 88 multifamily communities totaling 28,000 apartment homes spread across 10 states in the Southeast, Southwest, and Midwest.