Author: Baylee Snead

Atlanta, GA – February, 2017 –Wood Partners, a leading national multifamily real estate developer, announced today that Matt Trammell has been named its new Chief Financial Officer.

Trammell has worked for Wood Partners for over eight years, where he most recently served as Senior Vice President of Finance and Asset Management.

“Matt has made a significant impact on our organization during his tenure at Wood and we are confident that he will continue to excel as he moves into the CFO role,” said Joe Keough, CEO of Wood Partners.

In his role, Trammell will continue to oversee Wood Partners’ asset management group and corporate finance functions while supporting Keough and Patrick Trask, Wood Partners’ President, with the management of equity and debt relationships.

“Joining the executive leadership team at Wood Partners, particularly at this moment of growth at the company, is incredibly exciting,” said Trammell. “I am proud to be a part of the strong team and culture here and privileged to contribute to the communities we are building across the country.”

Trammell started in his role in October 2016.

ATLANTA–(BUSINESS WIRE)–Wood Partners, a national leader in multifamily real estate and development, today announced the hiring of Steve Hallsey as Executive Vice President of Operations of its property management company, Wood Residential Services (WRS). Hallsey brings over 30 years of experience in real estate management and property operations, and has worked for some of the nation’s largest and most successful multifamily housing companies.

“Hiring an industry leader with a proven track record adds considerable strength to the ongoing success and growth we’re experiencing with WRS”

“Hiring an industry leader with a proven track record adds considerable strength to the ongoing success and growth we’re experiencing with WRS,” stated Joe Keough, CEO of Wood Partners. “Steve’s background and wealth of operational experience makes him an invaluable addition to Wood Partners.”

In his role, Hallsey will run Wood Partners’ operating company—WRS—that oversees the management, leasing and operations of Wood’s multifamily assets. This includes marketing, personnel development, maintenance and operations of the properties and the 350-plus personnel who work for WRS.

“Wood Partners is a company I have always admired and I am inspired to be a part of such an innovative organization at this exciting time in our industry,” said Hallsey. “The level of current talent combined with the tremendous culture of Wood Partners makes WRS very well-positioned for both our near and long-term success.”

Previously, Hallsey was the President and CEO of AMLI Management Company, based in Chicago, for thirteen years. Prior to that he oversaw operations for Archstone–Charles E. Smith in Washington D.C. that managed properties in New York, Washington D.C., Southern Florida and Illinois.

Originally from American Fork, Utah, Hallsey is a graduate of University of Utah. He currently lives in Atlanta, GA with his wife. He has two children and six grandchildren. Hallsey started in his role on December 1, 2016.

TEMPE, AZ – Wood Partners, a national leader in multifamily real estate development based out of Atlanta, Georgia, announced the sale of Alta Tempe, a 296-unit multifamily community in Tempe, Arizona. The community went on the market in August of this year and sold for $67.9 million.

Located 12 miles East of downtown Phoenix, Alta Tempe is situated in the growing Tempe community and offers easy access to the Phoenix airport and Central City. The complex is located at 1260 E University Drive at Dorsey Lane.

“The success of Alta Tempe is a testament to the continued strength of the real estate market in Arizona and the need for housing in easily accessible, transit-oriented locations,” said Todd Taylor, development director for Wood Partners in Arizona and Colorado. “Alta Tempe is an example of a unique and beautiful asset that has been highly popular due to its ideal location in the booming Phoenix suburbs and, at the time of sale, was nearly 96 percent leased.”

Wood Partners built the property in early 2015, with first move-ins in April 2015. The Class A complex features an 8,000 square-foot clubhouse with a vertical garden and observation deck, a resort-style pool with private cabanas, an outdoor fire pit, cyber café, and 24-hour fitness center. The units boast granite countertops, stainless steel appliances, high-tech NEST thermostats, and 10-foot ceilings in some homes.

Miami — Wood Partners announced it has acquired the Midtown 8 development site for $25 million from Midtown Miami investor Alex Vadia.

Wood Partners filed plans earlier this year with the city of Miami for a 28-story, 387-unit building on the 2-acre site, which was owned at the time by Vadia’s Midtown Opportunities. As part of the deal, Midtown Opportunities will keep ownership of the ground floor retail space at the mixed-use project, according to a press release.

As planned, the building at 2901 and 2951 Northeast First Avenue would have the ground floor retail space and a total of close to 30,000 square feet of commercial space, an amenity deck above the attached 519-space garage, 27 bike parking spaces, and a clubhouse. Units will range from studios, one-bedrooms and two-bedrooms to three-bedroom penthouses with high ceilings.

The 390,000-square-foot development would back up to Florida East Coast Industries’ train tracks, so the developer proposed design “enhancements” on the ground level to activate what it describes as dark and unsafe space, Stantec architects previously told The Real Deal. Those include a landscaped linear park with a dog park, Citi Bike rack and an art wall, all open to the public.

Wood Partners plans to break ground on Midtown 8 early next year, Stantec said in July. Records show Midtown Opportunities Vib LLC paid nearly $6 million for the Midtown 8 land in 2011.

PHOENIX–(BUSINESS WIRE)–Alta Paradise Ridge, a 278-unit luxury community located between Phoenix and Scottsdale, hosted a unique animal-focused fundraiser last week benefitting the Maricopa County Animal Shelter.

The highly attended event was held at Wood Partners’ Alta Paradise Ridge clubhouse on Friday, December 2 where community members could interact with animals, donate pet supplies and learn about the shelter. The purpose of the event was to raise awareness for rescued and abandoned animals, and give residents and neighbors an opportunity to learn more about pet adoption.

“Alta Paradise Ridge is committed to making a positive impact in our community, and the incredible turnout demonstrates the love for pets and the desire to give back to the places where we live and work,” said Todd Taylor, development director for Wood Partners in Arizona and Nevada. “We are proud to have collaborated with so many great organizations to give these animals better lives.”

Alta Paradise Ridge is a unique and sophisticated community nestled in northern Phoenix. The property is pet friendly and includes a dog park and dog wash. The property opened in April 2016 and is currently leasing its loft-style 1-, 2- and 3-bedroom units.

The event included support, donations and raffle prizes from local organizations including Cox Communications, JB Graphics, Lunchbox Was Salon, Hyatt Gainey Ranch, Bentley’s Biscuits, Protein House, Tattle Tail Trinkets, Funny Bone Photography, Maintenance Supply Headquarters, Bourbon Jacks, BJ’s Restaurant and Brew House, and Elite Restaurant Group. The raffle raised nearly $2,000 for Maricopa County Animal Shelter.

Numerous community members completed adoption applications and several pets were adopted. Hundreds of dollars in pet toys, food and supplies were also donated to the Animal Shelter as part of the event.

At any given time, the Maricopa County Animal Shelter has hundreds of animals in search of loving homes. All donations go directly to the care of its animals in its shelters and its spay and neuter programs, vaccinations and microchip clinics. To learn more about the Maricopa County Animal Shelter, visit www.maricopa.gov/pets.

Dallas—Wood Partners has sold Alta Farmers Market, a 313-unit community in Dallas to Mindful Capital Group.

The 4.7-acre community at 1110 S. Cesar Chavez Blvd. is within walking distance of the recently redeveloped Dallas Farmers Market, as well as music venues, restaurants and other entertainment in Deep Ellum. Construction on Alta Farmers Market began in January 2015 and was just completed this February, and is located in the southeast portion of the Dallas central business district.

The four-story Alta Farmers Market features one-, two- and three-bedroom units, with stainless steel appliances, quartz countertops, in-unit washers and dryers, walk-in closets and private balconies/patios. Community amenities include a swimming pool with grills, a roof deck with bar and downtown views, a courtyard with a fire pit, a 24-hour fitness center with personal training and group fitness, a resident lounge with game area, a business center, and a pet walk and wash area.

When Wood Partners began construction on Alta last year, development associate Ryan Miller said, “with the revitalization of the Dallas Farmers Market next door and a resurgence in Deep Ellum, our residents will have great access to restaurants and entertainment in the area, all while being in close proximity to the downtown office market.”

ATLANTA, GA – This signature high-rise residential tower will be located in the heart of the Buckhead neighborhood of Atlanta. Gilbane Building Company, a leader in construction services and multi-unit construction, is serving as the construction manager for Wood Partners, a national leader in multifamily real estate development, based in Atlanta.

The 27-story luxury tower will offer 267 units of apartments and four stories of parking with podium-level parking deck and private garage options. The tower will offer a mix of one-, two- and three-bedroom units. The high-end, upscale finishes feature European-style cabinets with granite counters, undermount stainless steel sinks, plank flooring, modern lighting fixtures throughout, and ceramic tile tub surround. Community amenities include an elevated outdoor terrace and pool deck and a residential club and Sky Lounge on the 27th floor with a covered terrace, and a state-of-the-art fitness center.

“We are truly excited to have the opportunity to work with Wood Partners on such a high profile project,” said Jim Pritchett, Senior Project Executive Gilbane Building Company. “It is especially significant to Gilbane since when we completed the adjacent residential tower in 1999, the expectation was we would build the next tower shortly thereafter. Little did we know it would take 17 years to begin construction.”

The project, designed by Reese Vanderbilt & Associates is anticipated to complete in May of 2018 and will be located adjacent to the Phipps Plaza. The structure is a post-tensioned frame and is neighbors with the Park Avenue and Park Regency Condominium projects Gilbane Building Company completed many years ago.

CHICAGO — Vantage Oak Park, a 21-story, 270-unit high rise at 150 Forest Avenue, has welcomed its first residents according to the development group consisting of Atlanta-based Wood Partners, Chicago-based international real estate development firm Golub & Company, and the Village of Oak Park. The new luxury apartment tower, which is now Oak Park’s tallest building, offers incoming residents stylish design and superior amenities right in the heart of all that Oak Park’s walkable downtown has to offer.

“Oak Park offers residents a high quality of life in one the country’s most desirable suburbs along with easy access to Chicago,” commented Oak Park Mayor Anan Abu-Taleb. “Vantage brings the lifestyle of a downtown high-rise to the thriving local dining, shopping and cultural scene of Oak Park.”

“We’re thrilled to become part of the vibrant community of Oak Park with the opening of Vantage,” added Michael Newman, President and CEO, Golub & Company. “The livability of Oak Park’s downtown will be enhanced by the addition of residences that fit the needs of Millennials, young families and empty nesters alike, all of whom are looking for homes offering both convenience and luxury.”

The building, designed by the Chicago office of architectural firm Gensler, showcases stunning views of Oak Park and the iconic downtown Chicago skyline with floor-to-ceiling windows in the residences. The dynamic and inspired studio, one- and two-bedroom floor plans also feature plank flooring, stainless steel appliances, granite countertops, and in-apartment washer and dryer sets.

Residents will have access to shared amenities intended to promote collaboration, including a roof-top terrace with grills and fire pit, a fitness center, lounge, clubroom, and business center and conference room. Additionally, 24-hour self-service package pick-up, a smartphone video intercom system and a self-service pet wash are included to match the desires of targeted audiences.

“When envisioning Vantage Oak Park, we wanted to create a luxurious home for our future residents that encourages a sense of community and enhances our residents’ living experience,” said Wood Partners Chicago-based Director Clay Iman. “We’re pleased the combination of Vantage’s exceptional location and our whole team’s collaborative effort has resulted in a unique and beautiful asset that fully immerses residents in the culture of Oak Park.”

Vantage includes 25,000 square feet of retail space on the ground level and second floor fronting Lake Street, as well as a structured parking garage with 288 private and 300 public parking spaces, which are owned by the Village of Oak Park.

Atlanta–Admiral Capital Group and Wood Partners have announced that they successfully completed the sale of 3833 Peachtree, a 222-home community located in Atlanta’s Buckhead submarket. The Connor Group acquired the property for $38.6 million, roughly $182,311 per unit ($170 per square foot) with KeyBank providing a $32.6 million loan, with a maturity date ending in 2021. Both the buyer and seller were represented by JLL’s Atlanta team.

Admiral Capital and Wood Partners acquired the community (209 units) in the broken condominium conversion project in 2012, and during their hold period, the joint venture purchased an additional 13 units. Currently, the community has a total of 240 units, but 18 units of the original total are held by individual owners.

Built in 1985, 3833 Peachtree is a 16-story building with one- and two-bedroom residences averaging 1,066 square feet. Each apartment features hardwood floors, while property amenities include a fitness center, business center, clubhouse, tennis court, swimming pool and spa, rooftop terrace, laundry facilities and 480 parking spaces.

During its ownership, Admiral upgraded the property with a new outdoor pool and cabana area, and outdoor lounge areas. Additionally, the lobby, fitness center, and conference areas were renovated to complete the “live, work, play” environment tenants were seeking.

“We are thrilled with the execution of our business plan on 3833,” said David Robinson, Admiral co-Founder. “It has been very rewarding to be a part of transforming this property into such a high quality community for the residents.”

“We are proud of our work to breathe new life into 3833 Peachtree. From adding unique design features to buying back condo units, the team executed a complex plan for a successful investment,” said Curtis Walker, director, Wood Partners.

Atlanta — Wood Partners has announced that its community of 266 luxury apartments is slated to open its doors in 2017 as part of a mixed-used development under construction on a 12-acre site at the corner of Atlanta and Spring roads.

The development will include retail shops and Wood Partners’ community is tentatively-named Alta Jonquil, reports Marietta Daily Journal.

Atlanta Business Chronicle recently reported that Wood Partners purchased almost 5 acres within the former Jonquil Plaza in Smyrna, where the company plans to develop the apartments.

The first phase of Alta Jonquil is scheduled to open in spring 2017, the MDJ reports.

A 60,000-square-foot shopping center anchored by a 45,600-square-foot Publix grocery store, is expected to bring 100 new jobs, the paper adds.

Andover, MA — Wood Partners, a national leader in real estate development and acquisition, is now leasing units at its new multifamily community, The Slate at Andover. The 224-unit property, which was built on the former Rolling Green Golf Course, is located in the highly-desirable town of Andover. The site includes two four-story buildings, one which is now open for leasing and the other which will complete construction this summer.

“The Slate is a unique community situated just three miles from the heart of downtown Andover, offering residents a distinct communal feel where they can live, work and play,” said Carolyn Zern, vice president of development for Wood Partners. “From empty-nesters to young families to working professionals, The Slate at Andover was designed to appeal to a range of residents looking for a luxury living experience that stands out within the region.”

Interior finishes include granite countertops, subway tile backsplashes, stainless steel appliances and wood cabinets in the kitchens, upgraded lighting and plumbing fixtures, and wood-plank style flooring, offering residents a sophisticated backdrop for living. Bedrooms include expansive walk-in closets with custom organization systems, and both residential buildings include a fitness center with cardio and weight-training equipment.

 Designed to foster a strong sense of community, the property includes a separate clubhouse with a clubroom, business rooms and gaming area, a heated salt-water swimming pool, and an expansive patio with outdoor grills and fireplace. The property also has a dog run, a custom-built playground and sports courts.

 Located 2.7 miles from central Andover and less than 45 minutes from downtown Boston, The Slate offers quick access to I-93, connecting residents to excellent local schools, several major employers and surrounding dining and retail in the greater Andover region.

 “Given its excellent location, top-grade interiors and superior amenities, we are consistently attracting a range of audiences from singles who value top-of-the-market finishes and amenities and easy access to Boston, to young families who are looking for a sense of community and space, as well as empty nesters who are ready to downsize from their houses, but still desire to stay in the beautiful environs of Andover,” said Zern.

Construction of the second residential building is scheduled for completion by summer 2016.