May 26, 2011|Opus Development Corporation recently began construction on Stadium Village Flats, an apartment and retail complex located in Stadium Village near the University of Minnesota’s East Bank campus in Minneapolis.
Construction began this week on the six-story apartment complex, which is scheduled for completion and move-in next fall. ESG Architects is the design architect, and Opus AE Group will serve as structural engineers.
The overall urban design vision for Stadium Village Flats is to provide high-quality residential and street-front retail at the east gateway of the University of Minnesota. The 120-unit and 235-bed luxury student housing development will include amenities that set it apart from conventional student apartment buildings.
“Stadium Village Flats is designed to create a modern energized living environment for students,” said Dave Menke, senior vice president and general manager of Opus Development Corporation. “Level-by-level, each floor will provide a unique amenity bringing students together and differentiating this project from others.”
Amenities include a theater and movie room, cardio fitness space, yoga and Pilates studio, study areas, a gaming room with multiple big screen TVs and a contemporary lounge. The ground level will feature a CVS/pharmacy plus an additional 4,400 square feet of service retail space.
Opus Development Corporation has retained Asset Campus Housing to market and manage the project upon its completion in August of 2012. Leasing will begin in October of 2011.
Houston—Atlanta-headquartered ARA has completed the sale of The Sunbelt Portfolio, a 10-propertry CMBS distressed portfolio located in Texas and Florida. The transaction took place over the course of two years. Nine of the total 10 properties have closed; The Cascades in West Palm Beach, Fla. is still on the market.
The nine assets that sold are in the Houston area and total 1,932 units. The group received over 240 offers during the course of marketing. ARA Houston-based principal David Wylie, ARA-Austin-based principal Jeff Patterson, and ARA Florida-based principal Avery Klann represented Byron Plant, who was the first receiver. Steve Harr, who was the second and last receiver, and New York-based Torchlight Investors, an independent SEC-registered investment advisor, focused on commercial real estate debt investments in the transaction.
“The assets are well located and in excellent condition relative to other distressed assets, but this was a very complicated transaction to execute,” says Wylie. “It is a great case study on a large distressed portfolio transaction that is a mix of both cash and seller-financed transactions that received more than 240 offers, which gave us great insight into the market. The pool of buyers across the portfolio included local, regional and national players with varying strategies and business plans for the individual assets.”
Source: Multi-Housing News - May 23,2011
Asset Plus Companies Ranks #34 in National Mult Housing Council's Annual "Top 50" Managers Survey
After being ranked #38 in 2010, Asset Plus Companies is pleased to announce that we have moved up 4 spots to #34 on NMHC's list of the "Top 50" Management companies. With over 38,000 units nationwide, Asset Plus Companies continues to deliver the "ultimate living experience" to all residents from coast to coast. The company's growth simultaneously allowed for us to hire and retain the most experienced and dedicated talent in the industry.
Do you suffer from Triskaidekaphobia, the fear of Friday the 13th? If so, we found some pretty entertaining superstitions that relate to you and your home in order for you to take extra precautionary measures on this day.
- Never carry a hoe into the house. If you do so by mistake, carry it out again, walking backward to avoid bad luck
- The Classic: Never walk under a ladder. If you must do it, cross your fingers or make the sign of the fig (closed fist, with thumb between index and middle fingers).
- Never give a knife as a housewarming present, or your new neighbor will become an enemy.
- When you move to a new house, always enter first with a loaf of bread and a new broom. Never bring an old broom into the house.
- It is customary to sprinkle salt in a new home before you occupy it, as the salt will drive any evil out and away from you and your family.
- Lingering trash can also block you from new energy and opportunities. Sounds like a good reason to empty the trash cans around the house on a daily bases, especially the one under your desk.
- A broken mirror is a common superstition - if you happen to break a mirror, then according to legend you must wait seven hours (one for each year of bad luck) before picking up the broken pieces.
- In the kitchen, ensure that your whisk and plenty of spoons are handy as to stir anything with a fork will stir up misfortune. If you drop a fork this is a sign that you will have a female friend dropping by for a visit soon.
- It's bad luck to put a hat on a bed.
- Never face your bed with the foot facing the door, and never put the headboard against a wall that is shared with a bathroom.
- Placing a bed facing north and south brings misfortune.
- You must get out of bed on the same side that you get in or you will have bad luck.
- Never turn your mattress on a Sunday, or change a bed on Friday or you'll have bad dreams.
- Just to be on the safe side we are going to have a 14th: You must exit the same door you entered.
Do you have any other superstitions to add to our list?
We found most of ours on: old superstitions, mikasa, urban legend.
Asset Plus Companies brought 16 players and 18 spirited spectators to compete at the Houston Apartment Association's All Star Sports Challenge last Friday. With 4 females and 4 males on each team, Asset Plus was able to have two teams represent the company's athleticism in the 5 different sports challenges that were offered at the event. Each team brought their inner "Rocky" while they faced athletic challenges such as: the homerun derby, football toss, soccer kick, free throws and the "board walk."
In attendance was Executive Vice President of Multifamily, Byron Plant leading one team and Regional Vice President, Terri Clifton leading the other. Both teams were co-sponsored by Bi-Tech, Camp Construction and Impact Floors, thank you all for supporting us and being a part of our team!
As the Texas weather begins to heat up, so does the ever-lasting rivalry between the Houston Apartment Association and the Apartment Association of Greater Dallas. The two apartment associations will meet today and tomorrow as they compete in the 15th annual HAA vs. AAGD Challenge Cup Golf Tournament. The tournament includes 16 players from the Dallas Apartment Association and 16 players from the Houston Apartment Association. The tournament raises both money and awareness for the National Apartment Association's Political Action Committee.
Regional Vice President of Asset Plus Companies, Terry Henry, will be playing for the Houston team this year as he has been spending all of his weekends preparing for the big event. The Challenge Cup began this morning at Walden on Lake Conroe and will continue until tomorrow afternoon where the Champion Apartment Association will be named and reign as Challenge Cup Champion for another year.
Good luck to the Houston Apartment Association and our very own Terry Henry!
