Chicago—Multifamily property developer and manager The Habitat Company has added more than 5,000 units to its national management portfolio, having secured assignments for a dozen rental communities in Alabama and Florida over the last six months. The additions are in seven communities comprising 3,600 units in Birmingham, Ala., and five properties with almost 1,400 units in Tampa, Fla.
The most recent addition to Chicago-based Habitat’s management portfolio is Wildwood Acres, a 340-unit apartment community in Tampa. Owned by a venture led by Texas-based Golf Capital Partners L.P., Wildwood Acres features one-, two-, three- and four-bedroom units of 700 to 2,400 square feet. Habitat has had a presence in the Tampa market since 2012, and now manages six properties there, including Wildwood Acres.
The 45-year-old company has a property management portfolio that encompasses a broad array of residential property types. They include luxury apartments, condominiums, affordable and public housing and senior living communities.
“The Southeast U.S. presents a tremendous growth opportunity,” said Sheila Byrne, executive vice president of property management at The Habitat Company. “As we continue to expand our footprint in the Southeast, we are committed to leveraging our national development and management experience to provide the highest possible level of service to our clients and the residents who call these communities home, operating each property as if it were our own.”
Summarized The Habitat Company’s president, Matt Fiascone, “In a span of just four months, we’ve been able to expand our management portfolio by 25 percent while establishing a strong foothold in two very dynamic markets with favorable supply and demand fundamentals. Having boots on the ground in Tampa and Birmingham will better position us to evaluate and pursue additional opportunities, not only in these cities but in others throughout the Southeast U.S.—whether via acquisition, development or property management.”
The addition of the units in Alabama and Florida expand The Habitat Company’s portfolio by 25 percent. Residences now under management total 25,000, the largest in the 45-year-old company’s history.