Sale of Waterstone at Murrieta Apartments in Murrieta, California
SCOTTSDALE, September 4, 2014 /PRNewswire/ — The Wolff Company announced the sale of Waterstone at Murrieta Apartments, the 420-unit multifamily community located in Murrieta, California. Waterstone at Murrieta was purchased in a joint venture with Silverado Canyon Partners of Laguna Hills, California. It was one of nineteen investments made by Wolff Real Estate Partners, L.P. and the eighth investment in the fund to be sold.
“The sale of Waterstone at Murrieta marks the successful execution of the investment strategy we originally conceived with The Wolff Company. We completed a number of renovations and upgrades in response to the growth occurring in the market and we capitalized on those improvements,” said Mike Jara, President of Silverado Canyon Partners, Wolff’s joint-venture partner on the investment.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.
Acquisition of Development Site in Bellevue, Washington
SCOTTSDALE, July 31, 2014 /PRNewswire/ — The Wolff Company announced the acquisition of a nearly 2-acre development site in Bellevue, Washington. Located in the heart of the Bellevue Central Business District, the site represents a rare opportunity to participate in a full city block development. The proposed development will include 353 Class-A multifamily units and approximately 26,000 square feet of street-level retail. The Bellevue Central Business District is home to several notable employers such as Microsoft, Expedia, Puget Sound Energy and Symetra Financial.
“This acquisition furthers our commitment to the strong markets of the Pacific Northwest. We are excited for the opportunity to add to the Wolff Real Estate Partners II, L.P. portfolio and are optimistic that the strong market fundamentals in Bellevue will create significant value for the fund, its investors, and the surrounding community,” commented Jamie Dawson, Executive Vice President of Development at The Wolff Company.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.
Preferred Equity Investment in Jefferson Heights in Houston, Texas
SCOTTSDALE, June 13, 2014 /PRNewswire/ — The Wolff Company announced that it has made a preferred equity investment in Jefferson Heights, a multifamily development located in Houston, Texas. The proposed Class-A community will include 198 luxury units ranging from 607 to 1,253 square feet. The investment was made through Wolff’s credit and preferred equity fund, Wolff Credit Partners, L.P., which had its first closing on April 23, 2014. The project is sponsored by TDI, who has a long history of successfully developing multifamily communities and currently has over 3,000 units under construction in Texas, New York and Arizona.
Bill Trefethen, Head of Credit at The Wolff Company commented, “Jefferson Heights is a great addition to the growing Wolff Credit Partners, L.P. portfolio. The upscale community is well located in a strong submarket and we are excited for the opportunity to work closely with TDI during the development process.”
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.
Sale of Monte Vista Apartments in Morgan Hill, California
SCOTTSDALE, May 8, 2014 /PRNewswire/ — The Wolff Company announced the sale of Monte Vista Apartments, the 138-unit multifamily community located in Morgan Hill, California. Monte Vista is one of nineteen investments purchased by Wolff Real Estate Partners, L.P. and the seventh investment in the fund to be sold.
“We are extremely pleased with the performance of Monte Vista Apartments. The property produced consistent cash flow during our ownership and the sale represented a great return to our investors. We continue to feel that secondary markets such as Morgan Hill will provide a significant opportunity for us to be successful,” commented Jesse Wolff, Chief Investment Officer of The Wolff Company.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595
or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.
Preferred Equity Investment in 250 Piedmont in Atlanta, Georgia
SCOTTSDALE, April 30, 2014 /PRNewswire/ — The Wolff Company announced that it has made a preferred equity investment in 250 Piedmont, a multifamily development located in downtown Atlanta, Georgia. The investment was made through Wolff’s credit and preferred equity fund, Wolff Credit Partners, L.P., which had its first closing on April 23, 2014. The proposed development is sponsored by a subsidiary of DeBartolo Development, one of the largest privately-held development firms in the United States. The adaptive-reuse development sits on a 0.55 acre site and will consist of 328 multifamily units.
“This is a great opportunity for us to further our relationship with DeBartolo Development and makes a great addition to the Wolff Credit Partners, L.P. portfolio. We are excited to see the project completed and for the value it will add to the surrounding community,” said Bill Trefethen, EVP and Head of Credit at the Wolff Company.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.
First Closing of Wolff Credit Partners, L.P.
SCOTTSDALE, April 23, 2014 /PRNewswire/ — The Wolff Company announced the first closing of its latest investment vehicle, Wolff Credit Partners, L.P. (“WCP”). The new fund will be focused on making credit and preferred equity investments in multifamily development assets and multifamily acquisitions (stabilized and value-add). In its first closing, investors committed approximately $163 million to WCP. The Wolff Company expects the fund to reach approximately $200 million in total commitments.
“This is a very unique time in the real estate cycle. Multifamily development activity is steadily increasing but senior lending levels have become much more conservative. There is significant need for private providers of risk capital. We feel that we are uniquely positioned as an investor, developer and operator to identify attractive credit and preferred equity investment opportunities,” commented Fritz H. Wolff, CEO of The Wolff Company.
About The Wolff Company
Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.
Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended. This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance. A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE: The Wolff Company
For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.
