News

Groundbreaking New Development to Change the Face of Downtown Las Vegas Living

SCOTTSDALE, Ariz., January 19, 2016 – The Wolff Company has announced a partnership with 901 Fremont, LLC, an affiliate of Downtown Project, with plans to develop a groundbreaking mixed-use multifamily project on 1.3 acres in Downtown Las Vegas (DTLV). The proposed 5-story, podium-style building, currently being dubbed Fremont & 9th, will include 231 units as well as 15,000 square feet of retail space along Fremont Street. It will be the first of its kind in the emerging Fremont East area, which is being revitalized with the help of many investments and initiatives by Downtown Project and its founder, Tony Hsieh, the CEO of Zappos.com, Inc.

“We’re happy to welcome The Wolff Company to downtown, and believe this development is an important addition to Fremont Street because there currently isn’t anything like it available in the area,” said Hsieh. “Increasing the residential density is key to making the Fremont East area a truly vibrant place to live, work, and play. We’re excited to see this development for those who want to live downtown.”

Located at the intersection of 9th and Fremont Streets, the property will be within walking distance to dozens of restaurants, bars, and other retailers and small businesses in the urban DTLV district. It will be adjacent to the largest dog park in DTLV, The Hydrant Club, a block from Downtown Container Park, and a 5-minute walk to the Fremont Street Experience. Residents will also have convenient access to U.S. Highway 95 and Interstate 15, and will be just minutes from the Las Vegas Strip and the UNLV campus.

“The population of Downtown Las Vegas is growing and evolving, yet there is a lack of rental housing options to meet the area’s demand,” said Nate Carlson, Vice President of Development for The Wolff Company. “Fremont & 9th will change the face of DTLV living, offering residents a stylish home with unprecedented access to entertainment, retail and hospitality.”

Fremont & 9th is being designed to take full advantage of its location with a suite of amenities that promote a true “live, work, play” lifestyle. Urban art and style will be found throughout the property from its hip resident lounge and resort-style pool to the premium unit finishes such as quartz countertops, under-mounted sinks, custom tile backsplashes and stainless steel appliances. The Korte Company, based in Las Vegas, has been selected as the general contractor. Construction on Fremont & 9th is scheduled to start in the next 30 days.
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.

About Downtown Project:
The goal and purpose of Downtown Project is to help make Downtown Las Vegas a place of inspiration, entrepreneurial energy, creativity, innovation, upward mobility, and discovery. The community-oriented organization does this through the three Cs of collisions, co-learning and connectedness in a long-term, sustainable way.

Downtown Project is an umbrella organization that functions as the equivalent of a holding company, encompassing a collection of investments across small business, technology, and real estate. Downtown Project has allocated $350 million to aid in the revitalization of Downtown Las Vegas.

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-

Redhook Brewpub Opening at Pike Motorworks in Fall 2016

SEATTLE, WASH. – November 30, 2015 – The granddaddy of Seattle craft beer — Redhook Brewery — will celebrate its 35th anniversary as the Emerald City’s original craft brewery in 2016 with a new brewpub in Capitol Hill. The brewpub will be located in the distinctive Pike Motorworks building at 714 E. Pike Street.

From its humble beginnings in a Ballard transmission shop to its beloved Trolleyman brewpub in a former Fremont trolley barn, Redhook newest brewpub will be located in a former auto dealership on Capitol Hill’s historic auto-row, continuing the brewery’s reputation for transforming historic Seattle sites into popular destinations for beer lovers.  The new brewpub will reflect the spirit of Redhook’s beginnings and create a unique opportunity to experience some Redhook classics such as ESB and Ballard Bitter, alongside innovative small-batch brews, some of which will be available exclusively at the new brewpub location.

“I’m looking forward to my first ESB in the new brewpub on Capitol Hill,” said Paul Shipman, co-founder of Redhook Ale Brewery. “This new location is a perfect opportunity for Redhook to brew great-tasting, local craft beer in one of Seattle’s most vibrant neighborhoods and to help celebrate Redhook’s 35th anniversary since it first introduced Seattle to craft beer in 1981.”

The Capitol Hill brewpub will feature a 10-barrel brewery where Redhook brewers will brew beer exclusively for the pub and the City of Seattle. Construction is in process, and the new brewpub is scheduled to open in the fall of 2016, just in time to celebrate Redhook’s 35th anniversary.

“The Redhook brewing team is thrilled to celebrate our 35th anniversary with a new brewpub in the heart of the Emerald City,” said Nick Crandall, lead innovation brewer for Redhook Brewery. “I can’t wait to begin brewing new, creative and experimental beers at the new Seattle brewery. We’re also looking forward to the opportunity to connect with the community and continue partnering with great local businesses like Caffe Vita. Creating distinctive collaborative brews such as Double Black Stout ties all the goodness of Seattle together. This is what makes being a craft brewer so great – working with great people who really love what they do every day.”

 

About Redhook Ale Brewery

Redhook was born out of the energy and spirit of the early 1980s in the heart of Seattle. While the term didn’t exist at the time, Redhook became one of America’s first “craft” breweries with its focus on creating “better beers” for beer lovers. From a modest start in a former transmission shop in the Seattle neighborhood of Ballard, to its Trolleyman brewpub in a Fremont trolley barn, to its current breweries in Woodinville, Wash. and Portsmouth, N.H., Redhook has become one of America’s most recognized craft breweries. In celebration of Redhook’s 35th anniversary, 2016 will see Seattle’s original craft brewery increase its commitment to the Emerald City with a new brewpub in the Capitol Hill neighborhood.

While Redhook has “grown up” over the past 30 years, one thing has never changed — Redhook is still brewing great beers like ESB, Long Hammer IPA, Pale Ale and a variety of seasonal beers. Most importantly, Redhook has fun doing it. Redhook beers are available on draught and in bottles and cans around the country. For more information, visit www.redhook.com.

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.

 

Media Contact: Amber Huntley-Ruiz, (480) 760-2224, aruiz@awolff.com

Twitter and Instagram: @Redhook_Brewery

Facebook: www.facebook.com/RedhookAleBrewery

 

Media Contact:

Joleen Zanuzoski

GreenRubino, Public Relations for Redhook Brewery

P: 206-452-8189

E: joleenz@greenrubino.com

Wolff Announces Plans To Develop Six Senior Living Communities

SCOTTSDALE, Ariz., Nov. 20, 2015 /PRNewswire/ — The Wolff Company announced plans to develop several senior living apartment communities in the first quarter of 2016. The first six developments are expected to break ground over the next 90-120 days and will be located in Issaquah, Lacey and Spokane, WA; Henderson, NV; Oxnard, CA; and Colorado Springs, CO.

These projects represent the first of a large investment anticipated to be made in the independent and assisted living market by the Scottsdale-based private equity firm and will continue to broaden their portfolio of market-leading communities nationwide. Wolff intends to invest $300-$400 million annually in the development of independent and assisted living communities in addition to purchasing existing communities.

“There’s an underserved market of renters aged 55+ looking for a lock-and-leave lifestyle where we are building,” said Mike Milhaupt, Vice President of Senior Housing for The Wolff Company. “These developments will fill a gap in the market and set a new benchmark for senior living rental communities.”

The amenity-rich properties will offer on-site dining options, a variety of social activities and top-of-the-line facilities including fitness/aerobics centers, indoor swimming pools (certain locations), theaters, art studios, lounges and full commercial kitchens. They are strategically located in desirable communities across the Western United States.

  • Colorado Springs, CO
    Tutt Blvd & S. Carefree Circle
    160 Units
  • Oxnard, CA
    2850 North Ventura Road
    136 Units
  • Henderson, NV
    1505 Wigwam Parkway
    146 Units
  • Issaquah, WA
    19600-19852 Newport Way NW
    146 Units
  • Lacey, WA
    8501-8549 Martin Way E
    135 Units
  • Spokane Valley, WA
    16800 block of Mission Court
    135 Units

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. 

CONTACT: Amber Huntley-Ruiz, (480) 760-2224, aruiz@awolff.com

Wolff’s Sunset Electric Development in Seattle Voted Building of the Year by Daily Journal of Commerce Readers

SEATTLE, March 31, 2015 – The Wolff Company’s 92-unit apartment building, Sunset Electric, on Capitol Hill in Seattle is the winner of the prestigious Daily Journal of Commerce Building of the Year award. Sunset Electric out-paced a strong field of much larger and higher-profile nominees in the popular DJC contest.

Sunset Electric was one of the first multi-family developments permitted and constructed under the Pike/Pine Conservation Overlay District program that rewarded preservation of the historic structure’s façade and character with additional height. The seven-story mixed-use building at 1111 E. Pine is exceptionally efficient and recently received LEED Platinum Certification.

Tim Wolff, EVP Development and Managing Partner of The Wolff Company explained, “We are especially honored to receive this prestigious award because the votes were cast by our peers and members of the building community. Sunset Electric is the product of great teamwork and raises the bar for sustainable development and high-quality multi-family housing.”

The Wolff Company is the owner and developer of Sunset Electric. The building architect was Weber Thompson with Steve Cox, Architect as design consultant and the builder was Compass General Construction.

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

Wolff Acquires 800J Lofts in Downtown Sacramento

SCOTTSDALE, January 21, 2015 — The Wolff Company announced the acquisition of 800J Lofts, a popular loft-style apartment community in Sacramento, California.  Located at the corner of 8th and J Streets in the heart of Downtown Sacramento, the property is within three blocks from the State Capitol Building and just two blocks from the Sacramento Entertainment and Sports Center (“SESC”), the future home of the Sacramento Kings.

The loft-style studios, one- and two-bedroom floor plans feature floor-to-ceiling windows, granite countertops, stainless steel appliances, washers and dryers, and bamboo plank flooring. Amenities include two courtyards, an on-site courtesy patrol, a media room, controlled access parking and a 24-hour fitness center. The Wolff Company has plans to renovate and redesign the buildings common spaces to further increase the amenity package. The property also includes approximately 19,478 square feet of ground floor retail space in addition to a 292-space parking garage.

“The number of Sacramento residents is projected to grow as exciting new business and developments enter the downtown market over the next few years,” said Fritz H. Wolff, CEO of The Wolff Company. “800J’s mix of well-designed units and an ideal location will make this a valuable asset in our Northern California portfolio.”

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: Amber Huntley-Ruiz of The Wolff Company, 480.760-2224, aruiz@awolff.com.

Sale of Lincoln Place Apartments in Loveland, Colorado

SCOTTSDALE, September 30, 2014 /PRNewswire/ — The Wolff Company announced the sale of Lincoln Place Apartments, the 200-unit multifamily community located in Loveland, Colorado. Originally purchased in 2011, Lincoln Place Apartments is one of nineteen investments made by Wolff Real Estate Partners, L.P. and the ninth investment in the fund to be sold.

 

Following the sale, Fritz H. Wolff, CEO of The Wolff Company, commented, “Lincoln Place is a great representation of our investment thesis in Wolff Real Estate Partners, L.P. It was a strong, cash-flowing asset in an over-looked market and was a wonderful component of the Wolff Real Estate Partners, L.P. portfolio. We are extremely pleased with the performance of Lincoln Place and look forward to the results of the remaining properties within the fund.”

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.

Wolff Hires Steve Jasa as CFO of its Investment Management Group

SCOTTSDALE, September 15, 2014 /PRNewswire/ — The Wolff Company announced the hiring of Steve Jasa as the new CFO of its Investment Management Group. Steve will oversee all financial policies and procedures associated with the company’s six real estate private equity funds. With more than 24 years of real estate finance and investment management experience, Steve is responsible for all fund-related accounting, compliance, analytics, and investor reporting functions. Prior to joining The Wolff Company, Steve was Vice President, Investment Management of Western National Properties, where he was responsible for managing all aspects of the company’s $1.25B multifamily private-equity fund and joint-venture platform. He was also a Senior Manager in Ernst & Young, LLP’s real estate capital markets group. He graduated with a Bachelor’s degree from UCLA, and an MBA from Cornell University’s Johnson Graduate School of Management. He is a member of the National Multi-Housing Council, a full member of the Urban Land Institute, where he served as Vice Chairman of the Multifamily Council – Silver Flight (2008-2013), and a member of PREA, where he is a part of the Reporting & Valuation Affinity Group.

 

“We are extremely excited to have Steve join our team. He brings invaluable experience and knowledge that will greatly benefit our organization. We know that he will be a huge asset as the firm continues on its path of growth and expansion,” commented Jay Petkunas, President and COO 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.

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.