Kodiak Properties Provides Short-Term Housing Assistance to Residents Affected by East Palestine Train Derailment
Youngstown, OH, USA – WEBWIRE – Sunday, January 28, 2024
As members of the greater Youngstown community, we believe it is our responsibility to lend a helping hand to our neighbors in times of need.
Kodiak Properties, a locally owned real estate investment company based in Youngstown, Ohio, stepped up this past year to support residents affected by the 2023 train derailment in East Palestine by providing short-term housing assistance to those in need.
The train derailment, which occurred on February 3, 2023, resulted in the evacuation of several neighborhoods and left many residents displaced from their homes due to safety concerns and damage to surrounding properties. Recognizing the urgent need for shelter and support, Kodiak Properties quickly mobilized resources to offer temporary housing solutions for affected individuals and families at their Boardman Township locations.
Our hearts go out to the residents of East Palestine who have been impacted by this tragic event, said Kyleigh Haynes, media spokesperson for Kodiak Properties. As members of the greater Youngstown community, we believe it is our responsibility to lend a helping hand to our neighbors in times of need. Providing short-term housing assistance is just one way we can offer support and comfort to those affected by the derailment.
Key highlights of Kodiak Properties short-term housing assistance initiative include:
1. Immediate Response: Kodiak Properties acted swiftly in response to the train derailment, working closely with local authorities and relief organizations to identify individuals and families in need of temporary housing assistance.
2. Provision of Safe and Comfortable Accommodations: The company offered fully furnished, move-in ready apartments and rental properties to displaced residents, ensuring they had access to safe and comfortable accommodations during the recovery process.
3. Flexible Leasing Options: Kodiak Properties provided flexible leasing and payment options for affected residents, alleviating financial burdens and making it easier for individuals to transition into temporary housing solutions.
4. Community Collaboration: Kodiak Properties collaborated with local nonprofits, government agencies, and community leaders to coordinate relief efforts and ensure a coordinated response to the needs of displaced residents.
5. Ongoing Support and Assistance: Beyond providing temporary housing, Kodiak Properties remains committed to supporting residents affected by the derailment by offering additional resources and assistance with relocation.
As the recovery and rebuilding process continues in East Palestine, Kodiak Properties reaffirms its commitment to standing with the community and providing assistance to those still in need as we approach the one-year anniversary of this tragedy.
For more information about Kodiak Properties and its community initiatives, please visit www.KodiakPropertiesLLC.com or contact (724) 698-2700.
About Kodiak Properties:
Kodiak Properties is a Youngstown-based real estate investment company dedicated to making a positive impact in the communities it serves. With a focus on integrity, compassion, and community engagement, Kodiak Properties is committed to supporting local residents and contributing to the well-being of neighborhoods throughout the region.
Anchorage Square is LA-based real estate firm’s second major Bay Area acquisition in 45 days. Anchorage Square SAN FRANCISCO – Aug. 7, 2023 – PRLog — BH Properties has acquired Anchorage Square, a 322,000 mixed-use property in the center of San Francisco’s famed Fisherman’s Wharf. At 2.6 acres, Anchorage Square is one of the largest privately held mixed use retail sites on the Wharf. Encompassing an entire city block, Anchorage Square’s components include a 128-key Courtyard by Marriott, 28,800 square feet of office space, 63,000 square feet of retail space and a 685-stall parking garage, one of the largest parking structures in the submarket. The retail space, which includes 435 linear square feet of frontage along Jefferson Street, the main thorofare along the Wharf, is anchored by the only In-N-Out burger restaurant in San Francisco. “Anchorage Square has long been an important part of the fabric of Fisherman’s Wharf and one of the top performing properties in all of San Francisco,” said BH Properties President Jim Brooks. “We see positive signs of tourism in Fisherman’s Wharf returning to its pre-Covid levels and the property’s location between Pier 39 and Ghirardelli Square will be a key demand driver.” One of those signs, is that the on-site hotel reports that average daily rate (ADR) and revenue per available room (RevPAR), two of the most important metrics to measure hotel performance, continue to improve. Additionally, at more than 80%, the hotel exceeds the market’s overall average occupancy rate of 70%. BH Properties plans an extensive capital improvement program that will include a complete upgrade of the property’s façade, tenant spaces and common areas, new landscaping, lighting, signage and way finding. The Los Angeles-based firm will also evaluate alternative uses for the existing office space which may include restaurant and entertainment options. The firm has engaged CBRE’s San Francisco-based retail team led by Laura Barr to advise on the repositioning of the property and lead the leasing efforts. This is the second major real estate investment in the San Francisco Bay area by BH Properties in the past 45 days. In June, the firm acquired the 60-acre Holy Names University in Oakland, which ceased operations in May. “We see this as an opportunity to add a marquee asset to our growing Bay Area portfolio,” Brooks added. Built in 1974, Anchorage Square is bounded by Jones, Leavenworth, Beach and Jefferson Streets. It’s location is adjacent to the famed San Francisco Cable Car Fisherman’s Wharf turnaround at Hyde and Beach Streets. Eastdil Secured brokered the transaction. About BH Properties Contact Bill Stoll, BH Properties LOS ANGELES – July 5, 2023 – PRLog — BH Properties (“BH”) has launched a new investment initiative into affordable housing with a goal of ultimately building a $1 billion portfolio of assets. The new initiative will be led by veteran affordable housing executive William “Bill” Stoll who joins the firm as Managing Director, announced company President Jim Brooks. An adjunct to the firm’s value-add multifamily platform, the new platform will focus on low-income housing tax credit (LIHTC), Section 8 and age-restricted housing throughout the United States. For the Los Angeles-based real estate investment firm, which manages a 10 million-square- “As long-term investors, our affordable housing strategy is driven by the annuity-like nature of the income stream and not the assumption of tax credits where most investors play,” said Brooks. “We will be looking at assets with 100 or more units, typically following the expiration of the 15-year compliance period, where we can then hold them for as long as a decade. We believe we can benefit from the durable and consistent cash flow that a professionally managed asset can generate.” “Our goal is to build scale relatively quickly,” added Andy Van Tuyle, Senior Managing Director Investments. “The addition of Bill, his contacts, reputation and experience will help expedite this effort.” Stoll, who will work closely with Van Tuyle, brings to BH more than $6 billion dollars in transaction experience over his nearly 14-year career at Steadfast Companies. Stoll, a graduate of San Diego State University, joined the Public Non-Traded REIT in 2009 as manager of a Southern California portfolio of 10 LIHTC properties, eventually rising to Executive Vice President of Acquisitions. In addition to completing the acquisition and disposition of nearly 150 multifamily, LIHTC and Section 8 properties, Stoll played an integral role in construction, financing and property management during his tenure at Steadfast. “It’s bittersweet to be leaving Steadfast, but Jim and Andy offered me an opportunity to lead and grow their new affordable housing platform,” said Stoll. “I was impressed with BH Properties’ well capitalized balance sheet, and their track record of making investment decisions quickly. This has allowed me to hit the ground running and we are already looking at potential investments in Texas, California, Arizona and Colorado.” About BH Properties Contact ASHEVILLE, N.C. – May 16, 2023 – PRLog — Quartz Properties, a residential real estate development company specializing in offsite construction, is proud to announce the addition of two senior leaders to its team: Doug Wilson, Executive Vice President of Quartz Modular, and Jarrett Sullivan, General Manager of Quartz Transport. Quartz Properties (https://quartzproperties.com/) Doug brings over 25 years of senior construction management and operations experience to Quartz Modular. He has held leadership positions in several organizations across the country, including Senior Vice President of Construction at Bettr Homes, General Manager for Zillow Offers, and National Director for IFM Restoration. He also served as Senior Director of Invitation Homes, a portfolio company of The Blackstone Group, where he oversaw the rehab, turns, and maintenance of over 16,000 homes. He is a licensed General Contractor in multiple states and a veteran of the Armed Forces. Doug’s wealth of knowledge and proven leadership will be an invaluable asset to Quartz Modular. Jarrett brings over 15 years of leadership in finance, logistics and operations to Quartz Transport. He has held various managerial roles aimed at optimizing operational efficiency, automation, and scaling operations for growth. Most recently he served as Mortgage Operations Manager with fintech firm Credible, and Sales Operations Manager at tech-driven real estate services company, Spruce. Jarrett’s expertise will help Quartz Transport optimize its operations and deliver exceptional customer service. “I am thrilled to welcome Doug Wilson and Jarrett Sullivan to the Quartz team in our Asheville office,” said Quartz Properties CEO, Joanna Schwartz. “Their extensive experience and impressive skillsets will undoubtedly enhance our operations, drive growth, and move Quartz closer towards achieving our goals. We remain committed to bringing attainably priced housing to market in Western North Carolina and beyond.” Quartz Properties has several communities under development including Padgett Place in Black Mountain, NC, Cascade Ridge in Fairview, NC, and Belle Meadow in Asheville, NC. The company has several other projects in the pipeline and a development in Colorado, Quartz at Poncha Meadows. Quartz Modular serves as the General Contractor for Quartz Properties’ North Carolina projects. Quartz Transport launched operations in spring 2022. The company services both Quartz Modular and third-party clients, including retailers, manufacturers, homeowners, and builders by transporting and setting manufactured and modular homes. Quartz Transport fills a gap in the current market and is poised for rapid growth. About Quartz Properties Quartz Properties is a modular-centric homebuilder that develops communities of attainably priced, modern residences in growth markets utilizing offsite construction. Launched in 2017, Quartz is expanding quickly and currently has several Build-For-Sale and Build-For-Rent projects under development in two states. Quartz is fully committed to realizing the cost, time, labor and environmental benefits of modular homes and strives to become the only national homebuilder who is exclusively focused on off-site construction. Lexington Apartments BOSTON – Sept. 12, 2022 – PRLog — Intercontinental Real Estate Corporation in joint venture with MG Properties has acquired The Lexington Apartments, a 178-unit apartment community in the Southern California community of Agoura Hills for $87.3 million. Built in 1986, The Lexington offers a unit mix of one- and two-bedroom apartment homes housed in 11 two-story residential buildings on a 15-acre-site at 30856 Agoura Road. 100% of the unit interiors have been renovated over the past five years by the seller. Agoura Hills is in the heart of the Conejo Valley, an affluent region 35 miles west of Downtown Los Angeles and encompassing northwest Los Angeles County and southeast Ventura County. It includes the cities of Agoura Hills, Oak Park, Westlake Village, Newbury Park and Thousand Oaks. The area has been a magnet for families wanting to benefit from the strong school systems, vigorous park and outdoor recreational programs and growing regional economy. Amgen, Teradyne, Dole Foods, JD Power, Farmers Insurance and the Los Angeles Rams all have regional or corporate headquarters in the Conejo Valley. “More than 80 percent of the housing stock in Agoura Hills is single family housing,” said Jessica Levin, Intercontinental’s Senior Director, Acquisitions out of the Boston-based firm’s Los Angeles office. “With median home prices of nearly $1.2 million, and a limited multifamily inventory with very little in the pipeline, Agoura Hills can arguably be considered one of the strongest and most stable suburban multifamily markets in the greater Los Angeles area.” According to the Southern California Association of Governments, there are only 1,249 multifamily units in Agoura Hills, with less than 500 units built since 2000. “The opportunity to acquire a first-to-lease community in this desirable suburban neighborhood is extremely rare, especially one of this size,” added Levin. The Lexington is the largest multifamily transaction by unit size in Agoura Hills in the past 10 years according to Real Capital Analytics. During that time only five apartment communities with 100 or more units have traded hands in all of the Conejo Valley. Together, the joint venture has a 3,200-unit multifamily portfolio consisting of eight communities in first and second ring suburban markets outside of Los Angeles, Denver, Phoenix, Portland, San Diego and the Bay Area. In February, the joint venture acquired a 394-unit garden-style multifamily community in the Denver submarket of Aurora, CO for $143 million. “The Lexington is a unique asset that is well positioned to benefit from a recovery in the L.A. region. We are excited to expand our joint venture with Intercontinental and pleased to add to our portfolio’s operating scale in the region.” added Jeff Gleiberman, MG Properties’ President. The Northmarq team of Vince Norris, Jim Fisher, Mike Smith and Bryan Schellinger marketed the property on behalf of the seller, a Calabasas, CA-based real estate development and investment firm. -30- About Intercontinental Real Estate Corporation: About MG Properties ContactBH Properties Buys Mixed-Use Development in San Francisco’s Fisherman’s Wharf
Founded 30 years ago, privately held BH Properties (http://www.bhproperties.com) is a vertically integrated real estate investment company focusing on the acquisition and management of a geographically and product diverse portfolio of assets. The Los Angeles-based company, with regional offices in Phoenix, Dallas, Houston and Seattle, continues to focus on value-add transactions, distressed debt, gap financing, and ground leases. Today the company owns and operates nearly 10 million square feet across 16 states.
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.comBH Properties Plans $1 Billion Investment into Affordable Housing
Founded 30 years ago, privately held BH Properties (http://www.bhproperties.com) is a vertically integrated real estate investment company focusing on the acquisition and management of a geographically and product diverse portfolio of assets. The Los Angeles-based company, with regional offices in Phoenix, Dallas, Houston and Seattle, continues to focus on value-add transactions, distressed debt, gap financing, and ground leases. Today the company owns and operates nearly 10 million square feet across 16 states.
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.comQuartz Properties Expands Leadership Team with New Hires, Doug Wilson and Jarrett Sullivan
Intercontinental RE Corp/MG Properties JV Acquire Los Angeles Area Apartments for $87.3 Million
Intercontinental Real Estate Corporation is an SEC Registered Investment Adviser with decades long experience in real estate investment, finance, development, construction management and asset management. Since 1959, Intercontinental and its affiliates have managed, developed, or owned collectively over $21 billion in real estate property. Today, Intercontinental manages a real estate portfolio of approximately $15.5 billion for its clients. The Intercontinental portfolio is diversified both by robust property mix and by geography. Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects. Visit http://www.Intercontinental.net for more information.
MG Properties Group is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. Headquartered in San Diego, California, MG was founded in 1992 by Mark Gleiberman with the mission to enrich communities. MG’s current portfolio is comprised of 88 communities totaling 28,000 rental homes in California, Washington, Arizona, Nevada, Colorado, and Oregon, For additional information, visit www.mgproperties.com.
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.com
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