Atlanta-based PENLER has acquired three properties and broken ground on two new development projects, boosting its portfolio to nearly $1 billion. The firm recently strengthened its leadership team by adding six new employees.
Major Milestone for Multifamily Investment Firm PENLER
Atlanta-based multifamily investment firm PENLER is expanding across the Sunbelt with new acquisitions and development projects. In the past 6 months, the firm’s portfolio value increased by nearly $1 billion as it acquired three properties and began two new development projects.
With these deals, PENLER’s total transaction volume now exceeds $1.64 billion, including six completed sales totaling $430 million.
Founded in 2019, the firm focuses on high-growth metropolitan areas across the Southeast.
Brian Metzler, managing partner at PENLER, said, “These investments reflect our continued commitment to thoughtful expansion in high-growth Sunbelt markets.”
He further added, “Eclipsing the $1 billion mark in just six years is a testament to the strength of our platform, the conviction of our capital partners, and the talent of our dedicated team. We are optimistic that operations and capital flows will improve and see tremendous opportunity ahead.”
The company recently added six new leaders to its growing team as part of its long-term leadership expansion plan. The new hires include Chris Doscher as MD of construction and development, Jon Gilliam as CFO, and Mark Hinshaw as COO.
The firm also welcomes Daniel Harari as VP and Wyatt Smith, Mason Valk, and Riley Haynie to its growing team.
“After a prolonged period of depressed transactional volumes and downward rent pressure, we are excited about the future. Having the right leaders in place is essential as we prepare for continued growth,” said Graham Carpenter, managing partner at PENLER.
While talking more about the new hires, he continued, “Chris and Jon bring a superb combination of experience, leadership, and strategy. Their guidance will be critical as we expand our portfolio and drive long-term value across our properties.
Portfolio Value Increases to Nearly $1 Billion
PENLER has partnered with a real estate fund advised by Crow Holdings Capital to streamline its ongoing investments and acquisitions of the three properties across the Sunbelt region. The strategic plans feature unit renovations and community amenity upgrades, which are designed to elevate property value.
The three properties acquired are as follows:
- Botanic Waterside: 320-unit Class A property, Sarasota/Lakewood Ranch, Florida
- Trace Midtown: 290-unit high-rise apartment complex, Atlanta, Georgia
- Eleven85: 288-unit garden-style property, Atlanta, Georgia
With more expansion plans, PENLER has also broken ground on two new residential developments. The investment project consists of:
- 20-acre community with 294 garden-style units in Lakewood Ranch, Florida
- 7-acre downtown site with 262 units in Clermont, Florida
PENLER plans to take a disciplined approach while focusing on the Southeast’s fastest-growing metropolitan markets.
