To ensure your building’s long-term success, we seamlessly blend expert strategic analysis and create a unique business plan with helpful information for your Board Members and staff. Our management solution supports the need for managing your building as a valuable real estate asset while enhancing the lifestyles of your residents. We presently manage 35 properties with over 1,740 residences, ranging from a 206-unit, garden-style condominium to a 57-unit, mixed-use property in upper Manhattan. Trion has managed all sizes and types of properties throughout New York and Connecticut and we owe our success to our people – a unified team sharing a commitment to go above and beyond, every day, for the buildings we serve. Trion Real Estate Management was founded by President Carmelo Milio, CPM to offer Management Services to Investors and Co-op & Condo Associations. For 40 years, our dedicated team of local professionals and principals have worked hard to become a leader in NYC, Westchester and Connecticut property management. Trion Real Estate Management is a New York-based, full-service Real Estate Company that specializes in Property Management, Maintenance & Leasing.
Trion’s goal for every property and owner is to be Trusted, Responsive, Invested and always ON call.” Trion typically hold its assets for three to seven years.“Our business is property management and we devote every resource to ensuring all properties are run efficiently and professionally. 36 Interlocken tech corridor and Broomfield to the west, Boulder to the northwest and the booming DIA submarket to the east,” said David Moghavem, director of acquisitions at Trion.Ĭontinental Partners arranged the acquisition financing with Fannie Mae.īecause of the pandemic, Trion was careful to underwrite conservative worst-case scenarios and implemented a well-planned strategy to acquire the asset using favorable debt, according to Moghavem. Northglenn also serves as a feeder to the U.S. Downtown Denver, Denver’s top employment hub, is just 11 miles south of Northglenn via I-25. “Northglenn is well positioned geographically to serve as an affordable suburb to a multitude of major employment hubs. Stack and Bill Morkes, also of Colliers, represented the seller, a New York-based investment real estate company. “Multiple groups were interested in the asset,” said Craig Stack of Colliers International Multifamily Advisory Group, noting that the buyers, lenders, appraisers and inspectors, for example, all worked together in these unprecedented times to get the deal across the finish line. View Apartments is surrounded by nature trails, offers panoramic views of the Rocky Mountains and backs to the Northwest Open Space Park. Rebranded to View Apartments, the mixed-income community had seen improvements including new windows, sliding glass doors, common area improvements and some interior unit upgrades – renovations for which Trion will continue.Ĭonstructed in 1970, The View features one- and two-bedroom apartment units with private balconies or patios.Ĭommunity amenities include two swimming pools and large outdoor green spaces. The firm typically implements light to moderate exterior and interior renovations, improves operational efficiencies and rebrands the community. The acquisition of the property is part of Trion’s acquisition strategy to identify primarily valueadd, “diamond-in-the-rough” assets in high-growth markets. tech hubs it’s growing in, and Palantir, which is moving its headquarters to Denver and expects to continue to expand in the market, among others.” These include Amazon, which recently announced Denver as one of six U.S. “Denver benefits from strong employment, an affordable cost of living relative to the very high quality of life the area offers, a pool of sophisticated top talent, and the expansion of several prominent companies. “As an experienced owner and operator of apartment communities in the Western region, including the Greater Portland, Bay Area and Los Angeles markets, we recognize Denver as a market with powerful potential for return on investment,” noted Max Sharkansky, managing partner at Trion Properties, which has been strategically evaluating acquisition opportunities in the Denver market since last year and continues to be on the lookout for Denver properties due to the market’s employment base, quality of life and strong growth trajectory. Trion Properties paid $38 million, or $131,944 per unit, for The View at North Peak, a 288-unit community at 10701 Pecos St.
A California-based real estate private equity firm made its first Colorado purchase with its acquisition of The View at North Peak Apartments.
0 kommentar(er)
