One Arlington – Daily Herald

Arlington Downs luxury apartments to start leasing next week

Daily Herald | Melissa Silverberg | April 23, 2014

Future residents can begin leasing apartments at Arlington Downs as early as next week, officials announced on Wednesday morning along with giving more details about the massive redevelopment project.

Arlington Heights business leaders and politicians heard new details about the multimillion dollar project on the former Sheraton hotel site, at a breakfast meeting hosted by the Arlington Economic Alliance at Metropolis Ballroom.

The 27-acre project will have more than 100,000 square feet of retail space, mostly occupied by restaurants, plus 650 residential units, 160 hotel rooms and an expanded water park, said David Trandel, CEO of Stonestreet Partners, developer on the Arlington Downs project.

The first part of the project to be completed will be the transformation of the former Sheraton hotel into a tower of 214 luxury apartments, which Trandel said will begin leasing May 2, the same day Arlington Park opens its 2014 season.

The tower will have an “amenity floor,” a floor without residences, that will have a demo kitchen, a viewing room, a yoga/Pilates room, an 1,800-square-foot fitness center and a 5,000-square-foot outdoor deck overlooking the track with grills, fire pits and telescopes.

“It will be a real oasis for our residents,” said Rick Cavenaugh, president of Stoneleigh Companies, the private real estate firm developing the apartments. “We are creating something of an urban campus in Arlington Heights.”

The building will have storage units for every apartment, a dog grooming facility, music recording studio, a bike storage and maintenance facility and commercial laundry facilities.

Almost every unit will have a balcony, while some of the penthouse-level apartments will have multiple balconies or a larger sized terrace overlooking the area.

Each unit will have a washer-dryer and every resident will be guaranteed parking in a garage or on the property.

Developers said the goal is to have the building open by July and completely finished by October.

Exact rents and fees are still being worked out, but developers said most leases will be for 12-month periods and pricing will be around $1,300-$1,500 a month for studios, $2,000 a month for one-bedroom apartments and $3,000 a month for two bedroom apartments.

Trandel said he hopes to get construction started on the next phase of the project — a new Four Points by Sheraton Hotel with 161 rooms and an expanded water park — in June.

Developers have a deal with Wilderness Resorts, which owns resorts and water parks at Wisconsin Dells, to renovate the water park, which will include an additional 10,000 square feet of space, two more rides and a redesign to gear the park more toward a teenage crowd, Trandel said.

Construction on the water park could take five to seven months and construction on the hotel is about a 10-month project, Trandel said.

Later phases of the project will include more retail, restaurants and a second luxury apartment tower.

“We saw this as an opportunity to have a real entertainment destination,” Trandel said.

Developers said they are also working with officials from the Salt Creek Park District, which owns 13 acres behind the property, to use that space for water retention.

The $250 million redevelopment project is one of the largest projects in the Chicago area, officials said.

“This is going to become a very exciting, dynamic new cornerstone for the village,” Cavenaugh said.

One Uptown – Dallas Business Journal

Work to begin in weeks on new Uptown tower at Hard Rock site

Dallas Business Journal | Candace Carlisle | April 21, 2014

After hiring Dallas-based Hunt Construction Group, an out-of-state development group is readying to start developing a 20-story luxury high-rise on the former Hard Rock Cafe site in Uptown.

The tower will be one of the tallest, and most high-profile developments in the neighborhood.

Illinois-based Stoneleigh Companies LLC, along with Dallas-based Cheng Investments, recently submitted its building permits to get started on the 20-story residential and retail tower at the northeast corner of McKinney Avenue and Routh Street.

“We are going to start site utility work in the next two or three weeks and start digging a hole in June,”Stoneleigh President Rick Cavenaugh said.

The hole will be twice as deep as the hole Gables Residential recently dug to build an underground parking garage below the soon-to-be Whole Foods-anchored development on the kitty-corner site to the Hard Rock tract.

Hunt Construction will excavate about 65 feet deep, or about six-and-a-half levels of parking garage totaling about 480 parking spaces, Cavenaugh told me.

“In comparison, Trammell Crow Center is about 70 feet down, but that was a much larger site,” he said, adding the development group selected Hunt Construction for the 1-acre site after interviewing six contractors in a competitive bidding process.

“This is a big project,” Cavenaugh told me. “This is a high-profile project that will be one of the tallest buildings in the area with high-end finishes and high-end tenants.”

Cavenaugh is finalizing the retail tenants for the tower, which includes about 30,000 square feet of retail and restaurant space. The project also includes 200 luxury apartments homes.

Waterford Residential was hired to be the management company for the tower, with apartments being leased for $2.25 to $2.50 per square foot. Phil Shepherd is the project architect.

If construction begins in June, he says he expects to complete the project in March 2016.

One Arlington – Daily Herald

Arlington Downs project grows, moves forward in 2014

Daily Herald | Melissa Silverberg | January 21, 2014

Expect the already-major Arlington Downs development project to grow a bit larger in 2014, and residents will start to see big changes at the site of the former Sheraton Chicago Northwest Hotel in Arlington Heights.

The former 400-room Sheraton, just west of Arlington International Racecourse, closed in 2009 and now is the site of a $250 million multiuse redevelopment that will include residential, retail, restaurants, a hotel and a water park.

Work began on the project in 2013, but developers will be back in front of the village board early this year to get approval for slight changes because of a purchase that expands the project, said Bill Enright, deputy director of planning and community development.

The purchase, an additional two acres added on to the 25-acre project, will allow developers to reconfigure the location of a new hotel to be built on the site and allow more room for restaurant retail space to be built on-site.

The additional two acres sits at the corner of Rohlwing and Salt Creek Lane and was a former one-story office building that was at least 35 years old and had several vacancies, Enright said.

“It had been hard to lease up for years and we don’t see any issues with that parcel coming into the project. Overall, it will be a bigger benefit for the area to bring that into Arlington Downs,” he said. “This gives them more room for restaurants and brings more land into the total project.”

Enright said he knows developers have been in talks with several restaurants, but no names of specific eateries coming to the site have been released yet.

Aside from the new land, 2014 will be a busy year for what is likely to be one of the largest redevelopment projects in the Northwest suburbs.

Work is ongoing on the former Sheraton hotel, transforming the building into luxury apartments, which Enright said developers hope to begin leasing by this summer.

“They are on a very aggressive schedule right now and things are moving forward quite well,” he said.

In September, Starwood Hotels & Resorts Worldwide announced that a new Four Points by Sheraton with 161 guest rooms would be built on the site and is scheduled to open late this year as well.

Later phases of the project will also include an expanded water park, restaurants, retail shops and a second luxury apartment tower.

“With such a large project there are going to be some changes here or there over time,” Enright said. “But, this recent idea to reposition the hotel and bring in more property is a good one.”

www.dailyherald.com

One Uptown – Dallas Business Journal

Uptown tower planned for former Hard Rock site

Dallas Business Journal | Candace Carlisle | August 6, 2013

A high-profile Uptown property will be home to a new high-rise.

Illinois-based Stoneleigh Companies LLC, along with Dallas-based Cheng Investments, plans to develop a 18-story to 20-story residential and retail tower at the northeast corner of McKinney Avenue and Routh Street in Uptown.

Early plans for the high-rise tower include 30,000 square feet of retail and restaurant space, along with 200 luxury apartment homes on the nearly 1-acre tract of land once occupied by the Hard Rock Cafe.

The acquisition of the property gives Stoneleigh the ability to bring a luxury multifamily project to Uptown, where there’s not a lot of undeveloped land, said President Rick Cavenaugh, who purchased the tract for an undisclosed sum.

“Land prices have gotten crazy, but we were fortunate to get a pretty good value for our use for the property,” Cavenaugh told the Dallas Business Journal.

Cavenaugh says he expects to break ground on the project in early 2014, with a scheduled completion in late 2015 to early 2016.

The development, dubbed One Dallas, will sit kitty-corner to the Gables Residential development and Whole Foods grocery store currently under development off McKinney Avenue. The Whole Foods is expected to open in 2015.

“The market for existing properties in Uptown is very strong and we feel there’s a trend moving toward an urban lifestyle and that’s something that’s going to continue for the foreseeable future,” Cavenaugh told me.

Phil Shepherd is the project architect. Stoneleigh is interviewing general contractors, who “can still get in” on the project, Cavenaugh said.

The project has letters of intent out to two separate undisclosed restaurants.

Once complete, the residential tower will be managed by Stoneleigh’s management company, Waterford Residential. The apartments will be leased for $2.25 to $2.50 per square foot.

www.bizjournals.com

One Uptown – The Dallas Morning News

Highrise development planned for old Hard Rock Cafe site on McKinney Avenue in Dallas

The Dallas Morning News | Steve Brown | August 5, 2013

An Illinois developer has teamed up with local investors with plans to build on a prime Uptown Dallas tract on McKinney Avenue.

It’s the vacant corner where the old Hard Rock Café once sat at McKinney Avenue and Routh Street.

The long-time location of the popular music venue and eatery was knocked down in 2008, right before the recession hit. Since then the land has been idle.

Now Stoneleigh Cos – an Illinois-based property firm that buys and builds apartments – and Dallas’ Cheng Investments have purchased the site, Dallas County deed records show.

The new owners say they will build a 20-story apartment and retail tower with 200 luxury rental units and 30,000 square feet of retail space.

Newt Walker with Newt Walker Co. and Jack Gosnell with UCR Urban brokered the land sale.

Construction is set to begin in early 2014.

Cheng Investments recently sold the block on McKinney Avenue where the new Whole Foods Market grocery store and Gables Residential apartment tower is being built.

The McKinney project is the latest in several apartment towers in the works in Dallas’ Uptown district.

Developer StreetLights Residential is now finishing work on a 17-story apartment tower at Bowen and Carlisle streets near Turtle Creek.

And JLB Partners is about to begin construction on an 18-story, 299-unit apartment building at Cedar Springs Road and the Katy Trail.

Another developer, Novare Group of Atlanta, is buying land on Woodall Rodgers Freeway in Victory Park for a 20-story apartment project.

www.Dallasnews.com

One Uptown – CultureMap

Hard Rock Cafe space in Uptown Dallas to become mixed-use high-rise tower

CultureMap | Teresa Gubbins | July 31, 2013

Years after the old, much-revered Hard Rock Cafe on McKinney Avenue in Uptown Dallas was razed, plans are finally underway for a new high-rise to be built on that site.

Stoneleigh Companies has acquired the land for the development of One Dallas, a mixed-use, high-rise tower at the northeast corner of McKinney and Routh. One Dallas will include up to 30,000 square feet of premium restaurant and retail space and 200 apartment units in a 20-story tower.

“The acquisition of the site for One Dallas is an opportunity to develop the premier multi-family property in the rapidly expanding Uptown market,” said Rick Cavenaugh, president of Stoneleigh.

“The former Hard Rock Cafe site has been sought after as the best development location in Texas, and we are fortunate to … work with architect Phil Shepherd to design an iconic tower that will include two or three world-class restaurants and 200 units of super luxury apartments. We expect to break ground on the tower in 1Q14.”

No relation to the Stoneleigh Hotel in Dallas, Stoneleigh Companies is a private real estate investment and development company. It has acquired more than 3,600 units in the past three years and is building more than 1,000 units, including M2 Apartments in Denver, One Arlington in Chicago and Waterford Springs in Houston.

Stoneleigh’s partner on the project is Dallas developer/investor Cheng Investments. The two have co-invested on two other projects in Texas in the past three years, including the 80-unit Silver Spring Senior Housing property in Forney and Waterford Springs, a 308-unit new construction project near the Woodlands.

Stoneleigh Companies Announces the Acquisition of Land for One Dallas – Dallas, Texas

BARRINGTON, IL – July 26, 2013 – Stoneleigh Companies, LLC, development partner of SC One Dallas LLC, announces the acquisition of a site in Uptown Dallas for the future development of One Dallas, a to-be-built high rise mixed use tower at the NE corner of McKinney and Routh Streets in Dallas, TX. One Dallas will include up to 30,000 square feet of premium restaurant/retail space and 200 units of Class A+ apartments in a 20 story tower.

Rick Cavenaugh, President of Stoneleigh, stated “The acquisition of the site for One Dallas is an opportunity to develop the premiere multi-family property in the rapidly expanding Uptown market. The former Hard Rock Café site has been sought after as the best development location in Texas and we are fortunate to have the privilege to work with Architect Phil Shepherd to design an iconic tower that will include two or three world class restaurants and 200 units of super luxury apartments. We expect to break ground on the tower in 1Q14.”

Stoneleigh is partnering on the project with Cheng Investments, a Dallas developer/investor. Stoneleigh/Cheng have co-invested on two other projects in Texas in the past three years including the 80-unit Silver Spring Senior Housing property in Forney along with Waterford Springs, a 308-unit new construction project near the Woodlands.

Stoneleigh Companies is a private real estate investment and development company with a team track record of over 38,000 units since 1984. Stoneleigh has acquired over 3,600 units in the past three years and is building over 1,000 units including M2 Apartments in Denver, One Arlington in Chicago and Waterford Springs in Houston. Waterford Residential is Stoneleigh’s private label management company for all of its communities.

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Stoneleigh Companies Announces the Closing of the Acquisition of a 1,032 Unit Multifamily Portfolio – Keller, TX and Orlando, FL

BARRINGTON, IL – February 14, 2013 – Stoneleigh Companies, LLC announces the acquisition of a portfolio of 1,032 units in four apartment properties including Dominion Town Center and Lakes of Stone Glen in Keller, Texas, and Stonecastle and Middlebrook Farms in Orlando, FL. A vacant land parcel in Keller, Texas was also acquired and is planned for the construction of 180 units in fall 2013.

Rick Cavenaugh, President of Stoneleigh, stated “It is not often in your career to be able to build something great then own it twelve years later. This portfolio of four class A apartment complexes continues our growth of institutional multifamily properties into the new year. Having originally built these four communities gives us a unique perspective on their capabilities and will be managed by Waterford Residential, our affiliated property management division. Acquisition financing was provided by Keystone Commercial Capital and Walker and Dunlop thru their Freddie Mac CME program.”

James O’Kane, Chief Investment Officer, said “Two of the top markets are Dallas and Orlando and acquiring assets there is indicative of our strategy to build value through long term debt and excellent capital sources. Stoneleigh is proud to have co-invested with RGA Real Estate Investments in this portfolio. With 3,600+ units under management, we have reached a new milestone which allows the company to build our team with known assets and great employees.”

Stoneleigh Companies is a private real estate investment and development company with a track record of over 37,000 units since 1984. In addition to its recent acquisitions, Stoneleigh is building M2 in Denver, Arlington Downs in Chicago and Waterford Springs in Houston.

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One Arlington – Crain’s Chicago Business

Stoneleigh invests in venture turning Arlington Heights Sheraton into apartments

Crain’s Chicago Business | Alby Gallun | January, 03 2013

The developer that wants to convert a shuttered Sheraton hotel in Arlington Heights into 214 apartments is preparing to begin construction next month after bringing in a joint venture partner, Barrington-based Stoneleigh Cos.

The joint venture between Stoneleigh and a group led by former Prime Group Inc. executive David Trandel is in the final stages of securing a $30 million construction loan for the $46 million project, said Stoneleigh President Rick Cavenaugh. It is the first Chicago-area development for Stoneleigh, a firm Mr. Cavenaugh founded after leaving Fifield Cos. in 2008.

The Sheraton Chicago Northwest and adjoining Coco Key water park closed in 2009, in the depths of the hotel downturn, and Mr. Trandel’s group bought the property in June 2011, with plans to convert the hotel to apartments. Though a slew of suburban apartment developments are under way amid a strong rental market, the Arlington Heights project offers unique design and construction challenges.

“The key is going to be completely changing the whole look and feel of the place so it doesn’t look like a converted hotel,” said Ron DeVries, vice-president and Appraisal Research Counselors, a Chicago-based consulting firm.

But the development, called Arlington Downs, will have an edge over the competition because it will be the first new apartment building in Arlington Heights in a long time, offering the amenities that high-end renters want, he said. The 14-story building at 3400 W. Euclid Ave. will include a 10,000- to 13,000-square-foot health club, a 5,000- to 6,000-square-foot restaurant and a rooftop deck, Mr. Cavenaugh said.

“We’re larger, taller, newer and much higher-quality” than competing buildings, he said.

The property is zoned for 670 residential units, so the joint venture someday could build another 456 apartments on a site just to the east of the existing building, he said. Mr. Trandel’s group also plans to build a 160-room Four Points by Sheraton hotel next door and reopen the water park, he said.

Mr. Cavenaugh expects to close on the project’s construction loan on Feb. 1 and begin interior demolition immediately after that. He expects move-ins to begin in fourth-quarter 2013.

Chicago-based architecture firm Pappageorge Haymes Partners designed the apartment building, while New York-based Tishman Construction has been hired as the project’s general contractor.

Mr. Cavenaugh is a veteran of the apartment industry, working in the 1990s for Ambassador Apartments Inc. and Whiteco Residential LLC before joining Fifield in 2003 as chief operating officer. He picked up the president title a couple years later but left the Chicago-based firm in 2008.

Since founding Stoneleigh that year, Mr. Cavenaugh has amassed a portfolio of more than 3,000 apartments in places like Florida, Tennessee,Texas and Arizona. The firm doesn’t own any apartments yet in the Chicago area but has signed contracts to buy properties in Hoffman Estates and Naperville where it plans to develop new rental buildings, Mr. Cavenaugh said.racts to buy properties in Hoffman Estates and Naperville where it plans to develop new rental buildings, Mr. Cavenaugh said.

Stoneleigh Companies Announces the Closing of Waterford Lakes and Waterford at North Park Apartments – Midland, TX

BARRINGTON, IL – December 21, 2012 – Stoneleigh Companies, LLC announces the acquisition of two existing apartment properties in Midland, Texas: the 278 unit apartment project called Waterford Lakes Apartments; and the 200 unit apartment project called Waterford at North Park. The properties are the 11th and 12th multi-family projects acquired/developed by Stoneleigh in the past three years and follows the Waterford Ranch acquisition in 2011 in Midland.

Rick Cavenaugh, President of Stoneleigh, stated “Waterford Lakes and Waterford at North Park Apartments (formerly The Lakes and Windscape) affirm our commitment to Midland, Texas. The properties were rebranded at closing and will be managed by Waterford Residential, our affiliated property management division. Acquisition financing was provided by Key Bank National Association thru two bridge loans. We intend to close on a Key Bank – Freddie Mac CME loan in January 2013 and will bring our FMAC financed portfolio to nine projects.”

James O’Kane, Chief Investment Officer, said “We acquired the Waterford Ranch property last November and have seen excellent growth in the multi-family market in Midland over the past twelve months. There is a tremendous need for upgraded rental units and quality management there as the job growth has exceeded our expectations. These two great locations will benefit from our long term approach to maintaining our assets and improving the quality of the product that we offer our residents. We are very excited about the market and the opportunity to upgrade the housing stock.”

Stoneleigh Companies is a private real estate investment and development company with an extensive team track record of over 36,000 units since 1984. In addition to its recent acquisitions Stoneleigh has a project under construction in Denver and two more to break ground in 2013 in Houston and Chicago. With an additional 1,000 units of acquisitions under contract in its current markets, Stoneleigh’s portfolio will grow to over 4,000 units in January.

Download Waterford Lakes and Waterford at North Park Apartments Press Release PDF

Stoneleigh Companies Announces the Closing of Waterford on Tatum Apartments – Phoenix, AZ

BARRINGTON, IL – December 17, 2012 – Stoneleigh Companies, LLC announces the acquisition of the 128 unit apartment project called Waterford on Tatum Apartments in Phoenix, Arizona. The property is the tenth multi-family project acquired/developed by Stoneleigh in the past three years and adds a new major market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, stated “Waterford on Tatum Apartments is our tenth apartment project we’ve acquired since 2010 and our portfolio owned or under construction at 3,054 units. The property was rebranded at closing and will be managed by Waterford Residential, our affiliated property management division. Acquisition financing was provided by Keystone Commercial Capital and Walker and Dunlop thru their Freddie Mac CME program and is our seventh project financed by Freddie Mac.”

James O’Kane, Chief Investment Officer, said “We were fortunate to acquire this in-fill location with tremendous retail and lifestyle amenities near the property. The two story property, formerly known as Tatum Gardens, has an excellent unit mix and some of the residents have lived there since before we previously bought it in 1993 at Ambassador Apartments. It is a great indicator of the quality of the property and the neighborhood to purchase a project that we owned almost twenty years ago.”

Stoneleigh Companies is a private real estate investment and development company with an extensive team track record of over 36,000 units since 1984. In addition to its recent acquisitions Stoneleigh has a project under construction in Denver and two more to break ground in 2013 in Houston and Chicago. An additional 1,500 units of acquisitions are under contract in its current markets.

Download Tatum Apartments Press Release PDF

Stoneleigh Companies and Arris Investments Announce the Closing of M2 Apartments – Denver, Colorado

BARRINGTON, IL – September 25, 2012 – Stoneleigh Companies, LLC and Arris Investments LLC announce the acquisition of 13.8 acres of vacant land along with the closing of the construction loan for the 298 unit apartment project called M2 Apartments in Denver, Colorado. The property is the ninth multi-family project acquired/developed by Stoneleigh in the past three years and adds a new major market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, stated “M2 Apartments is our second new construction project started in the past year and will be a unique new product in the Southwest region of Denver. Our M2 concept will provide the highest quality of suburban Denver living in a market that has seen no new construction since we built Monterey Apartments in 2001. We were fortunate to acquire this in-fill location with tremendous retail and lifestyle amenities. We’ve been in the development stage for 18 months and will begin construction on October 1st.”

“US Bank is providing the construction loan for the project and our investment partner is Arris Investments. The strength of the Colorado multi-family market, coupled with two great institutions as our partners, will make M2 Apartments the best new community available to the residents of Denver and Littleton, Colorado. The unit finishes and amenities offered will be best-in-class for this established residential neighborhood.”

James O’Kane, Chief Investment Officer, said “The M2 closing follows the acquisition of five properties by Stoneleigh in the past year. Stoneleigh also started construction in December 2011 on the Silver Springs at Forney rental community to deliver 80 units of high quality affordable senior living to that market. Silver Springs will be completed and fully leased by the end of 2012. With 2,378 units in its portfolio, Stoneleigh has formed Waterford Residential, LLC as its private label management company to operate each of its communities.”

Stoneleigh Companies is a private real estate investment and development company with an extensive team track record of over 35,000 units since 1984. In addition to its recent acquisitions Stoneleigh has three projects in the development pipeline in Denver, Houston and Chicago that will add 809 units over the next two years. An additional 610 units of acquisitions are under contract in its current markets.

Arris Investments (www.arrisinvestments.com) is Los Angeles based real estate investment manager providing joint venture equity to qualified operating partners with value added business plans across asset types in the western United States.

Download M2 Apartments Press Release PDF

 

 

M2 Apartments – The Denver Post

Stoneleigh to develop 298-unit apartment project in Denver

The Denver Post | Howard Pankratz | September 26, 2012

Stoneleigh Companies LLC and Arris Investments LLC announced on Wednesday the acquisition of 13.8 acres of vacant land along with the closing of a construction loan for the 298-unit apartment project called M2 Apartments in Denver.

Stoneleigh said the property is the ninth multi-family project developed or acquired by it in the past three years and adds a new major market to its investment portfolio.

The project will be located on the southeast corner of South Balsam Way and West Stanford Avenue, according to Chic Hall, senior vice president of Stoneleigh Companies.

Rick Cavenaugh, president of Stoneleigh, said M2 Apartments “will be a unique new product in the southwest region of Denver.

“Our M2 concept will provide the highest quality of suburban living in a market that has seen no new construction since we built Monterey Apartments in 2001.”

He said the location has “tremendous retail and lifestyle amenities.”

Construction will begin on Oct. 1.

Cavenaugh said US Bank is providing the construction loan for the project and Stoneleigh’s investment partner is Arris Investments.

“The strength of the Colorado multi-family market, coupled with two great institutions as our partners, will make M2 Apartments the best new community available to the residents of Denver and Littleton,” he added.

Stoneleigh Companies Announces the Acquisition of Waterford Landings Apartments – Clarksville, Tennessee

BARRINGTON, IL – March 15, 2012 – Stoneleigh Companies, LLC announces the acquisition of the 364 unit Waterford Landings Apartments in Clarksville, Tennessee. The purchase was financed thru a new loan issued by Nationwide Life Insurance Company. The property is the seventh multi-family acquisition by Stoneleigh in the past three years and adds a new market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, stated “Our investment model remains acquiring apartment properties in great locations with our own equity while taking advantage of the current debt market. With rates at all time lows and the strength of the Clarksville market firmly established, we are excited about adding Waterford Landings to our portfolio.”

The Waterford Landings acquisition follows the purchase of the 1,040 unit Texas Waterford portfolio in November 2011. Stoneleigh acquired the portfolio of four properties built in 2008 and located in San Antonio and Midland Texas and is implementing a modest capital improvement program to improve the already strong performance of the assets. Stoneleigh also started construction in December 2011 on the Silver Springs at Forney rental community with a joint venture partner to deliver 80 units of high quality affordable senior living to that market.

With 2,280 units in its portfolio, Stoneleigh has formed Waterford Residential, LLC as its private label management company to operate each of its communities and will continue with the branding of its properties under the Waterford Residential banner.

Stoneleigh Companies is a private real estate investment and development company with an extensive team track record of over 35,000 units since 1984. In addition to its recent acquisitions Stoneleigh has two projects in the development pipeline in Denver and Chicago that will add 512 units over the next two years.

Download Stoneleigh Release Waterford Landings PDF

Stoneleigh Companies Announces the Acquisition of Waterford Park Apartments – Converse, Texas

BARRINGTON, IL – November 8, 2011 – Stoneleigh Companies, LLC announces the acquisition of the 224 unit Waterford Park Apartments in Converse, Texas, a San Antonio suburb. The purchase was financed thru a loan issued by Key Corp Real Estate Capital Markets, Inc. on behalf of Freddie Mac’s CME program. The property is the fourth multi-family acquisition by Stoneleigh in the past two years and adds a new market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, states “Our investment model is to buy existing apartment properties in great locations with internal equity while using advantageous debt structures. With debt rates at all-time lows and the strength of the San Antonio market firmly established, we are excited about adding Waterford Park to our portfolio.”

The Waterford Park acquisition is part of a four property portfolio bought by Stoneleigh this week and follows the purchase of Boca Vista Apartments in Orlando in December 2009 and Waterford Hills in Charlotte in November 2010.

James O’Kane, Senior Vice President – Acquisitions/Capital Markets said “Texas has always been a key focus as we are building our investment portfolio and we are excited about buying 1,040 units in Midland and San Antonio. These markets continue to outperform their peers and will be a key building block for Stoneleigh Companies.”

Stoneleigh Companies is a private real estate investment and development company with an extensive track record in multi-family and development disciplines. Since 1984, the Stoneleigh team has been responsible for the acquisition and development of over 35,000 multi-family units in 37 cities and 19 states. Three new projects are slated in Texas and Colorado for 2012.

Download Stoneleigh Release Waterford Park PDF

Stoneleigh Companies Announces the Acquisition of Waterford Place Apartments – New Braunfels, Texas

BARRINGTON, IL – November 8, 2011 – Stoneleigh Companies, LLC announces the acquisition of the 228 unit Waterford Place Apartments in New Braunfels, Texas, a San Antonio suburb. The purchase was financed thru a loan issued by Key Corp Real Estate Capital Markets, Inc. on behalf of Freddie Mac’s CME program. Theproperty is the fourth multi-family acquisition by Stoneleigh in the past two years and adds a new market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, states “Our investment model is to buy existing apartment properties in great locations with internal equity while using advantageous debt structures. With debt rates at all-time lows and the strength of the San Antonio market firmly established, we are excited about adding Waterford Place to our portfolio.”

The Waterford Place acquisition is part of a four property portfolio bought by Stoneleigh this week and follows the purchase of Boca Vista Apartments in Orlando in December 2009 and Waterford Hills in Charlotte in November 2010.

James O’Kane, Senior Vice President – Acquisitions/Capital Markets said “Texas has always been a key focus as we are building our investment portfolio and we are excited about buying 1,040 units in Midland and San Antonio. These markets continue to outperform their peers and will be a key building block for Stoneleigh Companies.”

Stoneleigh Companies is a private real estate investment and development company with an extensive track record in multi-family and development disciplines. Since 1984, the Stoneleigh team has been responsible for the acquisition and development of over 35,000 multi-family units in 37 cities and 19 states. Three new projects are slated in Texas and Colorado for 2012.

Download Stoneleigh Release Waterford Place PDF

Stoneleigh Companies Announces the Acquisition of Waterford Ranch Apartments – Midland, Texas

BARRINGTON, IL – November 8, 2011 – Stoneleigh Companies, LLC announces the acquisition of the 300 unit Waterford Ranch Apartments in Midland, Texas. The purchase was financed thru a loan issued by Key Corp Real Estate Capital Markets, Inc. on behalf of Freddie Mac’s CME program. The property is the fourth multi-family acquisition by Stoneleigh in the past two years and adds a new market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, states “Our investment model is to buy existing apartment properties in great locations with internal equity while using advantageous debt structures. With debt rates at all-time lows and the strength of the Midland market firmly established, we are excited about adding Waterford Ranch to our portfolio.”

The Waterford Ranch acquisition is part of a four property portfolio bought by Stoneleigh this week and follows the purchase of Boca Vista Apartments in Orlando in December 2009 and Waterford Hills in Charlotte in November 2010.

James O’Kane, Senior Vice President – Acquisitions/Capital Markets said “Texas has always been a key focus as we are building our investment portfolio and we are excited about buying 1,040 units in Midland and San Antonio. These markets continue to outperform their peers and will be a key building block for Stoneleigh Companies.”

Stoneleigh Companies is a private real estate investment and development company with an extensive track record in multi-family and development disciplines. Since 1984, the Stoneleigh team has been responsible for the acquisition and development of over 35,000 multi-family units in 37 cities and 19 states. Three new projects are slated in Texas and Colorado for 2012.

Download Stoneleigh Release Waterford Ranch PDF

Stoneleigh Companies Announces the Acquisition of Waterford Ridge Apartments – Schertz, Texas

BARRINGTON, IL – November 8, 2011 – Stoneleigh Companies, LLC announces the acquisition of the 288 unit Waterford Ridge Apartments in Schertz, Texas, a San Antonio suburb. The purchase was financed thru a loan issued by Key Corp Real Estate Capital Markets, Inc. on behalf of Freddie Mac’s CME program. The property is the fourth multi-family acquisition by Stoneleigh in the past two years and adds a new market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, states “Our investment model is to buy existing apartment properties in great locations with internal equity while using advantageous debt structures. With debt rates at all-time lows and the strength of the San Antonio market firmly established, we are excited about adding Waterford Ridge to our portfolio.”

The Waterford Ridge acquisition is part of a four property portfolio bought by Stoneleigh this week and follows the purchase of Boca Vista Apartments in Orlando in December 2009 and Waterford Hills in Charlotte in November 2010.

James O’Kane, Senior Vice President – Acquisitions/Capital Markets said “Texas has always been a key focus as we are building our investment portfolio and we are excited about buying 1,040 units in Midland and San Antonio. These markets continue to outperform their peers and will be a key building block for Stoneleigh Companies.”

Stoneleigh Companies is a private real estate investment and development company with an extensive track record in multi-family and development disciplines. Since 1984, the Stoneleigh team has been responsible for the acquisition and development of over 35,000 multi-family units in 37 cities and 19 states. Three new projects are slated in Texas and Colorado for 2012.

Download the Stoneleigh Release Waterford Ridge PDF

Stoneleigh Companies, LLC Announces the Acquisition of Waterford Hills Apartments – Charlotte, North Carolina

Barrington, IL (PRWEB) November 19, 2010 — Stoneleigh Companies, LLC announces the acquisition of the 270 unit Waterford Hills Apartments in Charlotte, North Carolina. The purchase was financed through a new long term loan issued by Wells Fargo on behalf of Freddie Mac’s CME program. The property is the third multi-family property acquisition by Stoneleigh in the past year and adds a new market to its investment portfolio.

Rick Cavenaugh, President of Stoneleigh, stated “Our investment model is to buy existing apartment properties in great locations with our own equity while using advantageous debt structures. With debt rates at all time lows and the recovery of the Charlotte market firmly established, we are excited about adding Waterford Hills to our port folio.”

The Waterford Hills acquisition follows the purchase of Chatham Harbor Apartments in Orlando, FL in December 2009. The renovation and repositioning of Chatham Harbor will be completed by December 2010 with occupancy in the high 90’s and concessions reduced below market.

Stoneleigh Companies is a private real estate investment and development company with an extensive track record in multi-family, office, land development and for-sale residential disciplines. Since 1984, the Stoneleigh team has been responsible for the acquisition and development of over 35,000 multi-family units in 36 cities and 19 states.

Download the Stoneleigh Release Waterford Hills PDF