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Month: August 2021

Wood Partners Breaks Ground on New Luxury Property in Austin, Texas

Written by Baylee Snead on . Posted in News. No Comments on Wood Partners Breaks Ground on New Luxury Property in Austin, Texas

Austin, TX (August 26, 2021) – Wood Partners, a national leader in multifamily real estate development, announced the groundbreaking of its latest luxury property in Austin, TX. Located at 8528 Burnet Road, the yet-to-be-named property is being developed in partnership with ParkProperty Capital. The first phase is targeted to open in Q4 2022.

The property will take its inspiration from the vibrant and eclectic history of the North Burnet Road corridor, combining Austin-inspired design elements with a refined, fresh aesthetic that Wood Partners’ properties are known for. The project will offer 261 luxury units with one, two and three-bedroom floorplans. The units will include high-end finishes, appliances, and technology packages. The amenity-rich design will feature unique spaces, both indoors and out, including a clubroom, fitness center, business center, micro-offices, conference and entertainment spaces, outdoor kitchen, outdoor exercise and yoga area, dog park, and a resort-style swimming pool. The property will also include a dedicated parking garage, and an indoor/outdoor sky lounge with expansive views of the surrounding area.

“This project reinforces Wood Partner’s commitment to developing market leading assets in top tier locations throughout Austin,” said Bart Barrett, Managing Director for Wood Partners. “8528 Burnet is a strategic step forward in solidifying Wood Partners’ presence as a preeminent multifamily development group in Austin and central Texas. We have delivered or are currently building approximately 1,200 residences in this market, and we continue to pursue additional opportunities.”

“We are excited to plant our flag in Austin with such an established developer as Wood Partners,” said Brendan Whalen, Managing Director of ParkProperty Capital. “This will be our first investment in Austin, and we strongly believe in the long-term prospects due to the business-friendly environment and quality of life that the city has to offer. This is our fourth investment with Wood Partners as we continue to target similar development opportunities throughout the major markets in the US Sunbelt.”

The location will place residents in one of Austin’s most distinct areas, offering access to major employment, entertainment, and activity centers, including The Domain and Parmer Austin. Key employers include Apple, Amazon, Facebook, and GM’s IT Innovation Center. Up-and-coming bars and restaurants, as well as established favorites, dot the community. Nearby shopping includes The Arboretum, Gateway Shopping Centers, and Shops at Arbor Walk. Residents will also benefit from the property’s proximity to the newly opened Q2 Stadium, home to FC Austin, Austin’s Major League Soccer team.

About Wood Partners
Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. The company has been involved in the acquisition and development of nearly 90,000 multifamily homes with a combined capitalization of $16.5 billion. The company currently owns 70 properties across the United States representing more than 20,000 homes. Headquartered in Atlanta, Wood Partners has offices in 21 major markets across 14 states nationwide. The company also operates Wood Residential, an award-winning, full-service property management group that proudly operates both properties developed by Wood Partners and communities owned by third parties. For two years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III). For more information, visit woodpartners.com.

Contact: Nick Fisher, 678-997-7928, nick.fischer@bcw-global.com

Wood Residential Retains Top Online Reputation Honor in J Turner’s 2021 Division ORA™ Power Rankings

Written by Baylee Snead on . Posted in Awards, News. No Comments on Wood Residential Retains Top Online Reputation Honor in J Turner’s 2021 Division ORA™ Power Rankings

Atlanta, GA (August 11, 2021) – Wood Residential, a national leader in multifamily real estate management, has earned the No. 1 ranking for online reputation for the second straight year in the 2021 Division ORA™ Power Ranking. The management company officially achieved this distinction within Division III (10,000 to 19,999 units), but also posted the highest overall score across the top three divisions (all companies managing 10,000+ units).

The Division ORA™ Power Ranking was introduced by J Turner Research in 2019 to recognize companies that manage over 2,000 units for excellence in online reputation. Companies are ranked based on their Online Reputation Assessment (ORA™) score—the multifamily industry standard to measure and benchmark a property/company’s online reputation. The unit cut-off for each Division was determined based on portfolio data obtained from ALN Data Services in June 2021.

“Wood Residential has taken a very deliberate path in how it has focused on customer service and reputation management,” said Steve Hallsey, Managing Director for Wood Residential. “Everything we do revolves around our culture, from building value for our clients and investors to ensuring our properties perform at an industry-leading standard. At the heart of all we do is a continual focus on our residents. We’re delighted to gain this top designation from J Turner once again, which highlights how our efforts are paying off.”

This impressive recognition is the latest victory for Wood Residential in 2021 after earning numerous individual property honors from J Turner Research earlier this year. In January, 17 Wood Residential properties earned the Elite 1% ORA™ Power Ranking for finishing among the top 1% of properties nationwide for online reputation, including 11 properties that placed in the 99.9th percentile. Additionally, Wood Residential was featured in April’s ranking of the Top Properties by Online Reputation in the 50 States and D.C., with seven of its properties appearing in the state rankings.

“With its stellar online reputation, Wood Residential has earned the top ORA™ distinction among all companies in Division III for 2021. Wood Residential has focused on winning over its residents in person, which is evident in its high ORA™ score. ORA™ is a single score that represents a company’s online reputation across a variety of review platforms,” said Joseph Batdorf, president of J Turner Research.

Developed by J Turner Research, the ORA™ Power Ranking is a monthly, independent ranking of apartment properties and management companies based on their ORA™ scores. The ORA™ score is an aggregate compilation of a property’s ratings across various review sites and ILSs and serves as a benchmark to compare a company’s properties and portfolios nationally, regionally and against the competition. Each month, J Turner Research monitors the online ratings of more than 123,000 properties nationwide to inform the rankings published by media partner Multifamily Executive.

About Wood Residential
Wood Residential is an award-winning, full-service, property management company that proudly operates communities developed both by Wood Partners and third-party developers. For two years running, Wood Residential has ranked No. 1 nationally for online reputation in the J Turner ORA™ Power Rankings (Division III). Wood Residential is an affiliate company of Wood Partners, a group of limited liability companies. Wood Partners is a national leader in the development, construction, and management of multifamily communities across the United States. Wood Partners has been involved in the acquisition and development of nearly 90,000 multifamily homes with a combined capitalization of $16.5 billion nationwide. The companies currently own over 70 properties across the United States with a combined total of more than 20,000 multifamily homes. Headquartered in Atlanta, GA, Wood Partners has offices in 21 major markets across 14 states nationwide. For more information, visit woodpartners.com.

About J Turner Research
J Turner Research is the leading full-circle online reputation management firm that empowers clients with data to drive revenue. Its unique 360-degree process enables companies to enhance resident satisfaction, increase closing ratios, and improve online reputation. J Turner’s Online Reputation Assessment™ (ORA™) score serves as the industry standard for measuring a property’s online reputation. For more information, please visit jturnerresearch.com.