Noah Miller Speaking at IMN Middle-Market Multifamily Forum in Chicago on October 15, 2018

Noah Miller, Vice President of Acquisitions & Finance at Pensam Residential, will speak on a panel at IMN’s Middle-Market Multifamily Forum (Midwest) in Chicago on October 15, 2018.  The panel, titled “Economy: Where is Multifamily in the Cycle?” will discuss a range of topics and their impact on the future of multifamily including:

  • Impact of tax reform and increasing tariffs
  • Sustainability of different market types
  • Immigration reform’s impact on tenant occupancy and labor
  • When millennials have kids, how will student debt impact?
  • Will the lion’s share of supply continue to urban core markets? What does this mean for the other markets?
  • What is the meaning of sharing economy?
  • Easing of credit standards, will that mean more for sale?

 

The panel will be moderated by  Laura Diezel of RSM US LLP.  Other panelists include:

  • Glenn Mueller, Managing Director, Black Creek Group
  • Domonic Purviance, Federal Reserve Bank of Atlanta
  • Thomas Errath, Senior Vice President, Harrison Street Real Estate Capital
  • Jim Driscoll, Senior Vice President, Waypoint Residential

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Noah Miller Speaking on Panel at IMN Middle Market Multifamily Forum on October 5, 2018

Noah Miller, Vice President of Acquisitions & Finance at Pensam Residential, will be participating on a panel at The IMN Middle-Market Multifamily Forum on October 5, 2018 in Orlando, FL.  The panel, titled “Acquisition Shark Tank”, will feature sample multifamily deals pitched to the panelists, who will evaluate each deal as potential buyers.  A question and answer period for each transaction will follow, discussing the panelist’s interest in and approach towards each deal. Chad Burkhardt, Senior Vice President at CenterSquare Investment Management, will moderate the panel.

Panelists include:

  • Noah Miller, Vice President of Acquisitions & Finance, Pensam Residential
  • Ryan Steppe, Vice President, Broadstone Real Estate
  • Nizan Mosery, Owner, Cornerstone Investment Partners
  • Robert Lee, Co-Founder and Managing Principal, The Beverly Park Group
  • Christopher Crippen, VP, Vie Management

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Pensam Residential Closes Preferred Equity Investment for the Acquisition of a 143-Unit Class-A Mixed-Use Property in Stamford, CT

(Miami, FL) — August 25, 2018 – Pensam Residential, a national multi-housing owner and operator announced today that it recently closed on a preferred equity joint venture investment to facilitate the acquisition of a nine-story mixed-use property in Stamford, Connecticut.  Built in 2001, the property offers 143 residential units and 10,520 square feet of ground-floor retail space.

Pensam’s investment was structured behind Fannie Mae senior debt financing.  The sponsor is a New Jersey-based investment firm and a repeat Pensam sponsor.

“This investment marks Pensam’s second preferred equity investment in Stamford, and we are pleased to continue expanding our presence in the Northeast,” noted Michael Stein, Founding Partner of Pensam Capital.

The property recently benefited from a $2.6 million capital improvement plan completed in 2016.  Improvements include the addition of a club room with lounge-style seating, a new rooftop terrace and fire pit, and a lobby redesign featuring the addition of a waterfall-accent wall, luxe finishes and new lighting.   Additional improvements include new hallway carpeting, new signage, installation of over-sized exterior flat-screen televisions, and a leasing office upgrade.

Unit interiors boast luxury upgrades such as granite countertops, stainless steel appliances, new cabinetry and updated fixtures.  Additional community amenities include private conference rooms, a game room and Wi-Fi lounge, a sunroof deck and gate garage parking.  The full-service property offers residents a range of services including complementary shuttle services, valet dry cleaning, digital package concierge and complementary access to the UFC Gym located on the first floor.

The property is located just 45-minutes from New York City via MTA’s Metro-North Commuter Railroad and boasts a prime location in the heart of downtown Stamford, situated within walking distance of over 75 restaurants and bars and many of Stamford’s existing landmarks and newest developments.

The city of Stamford is among Fairfield County’s fastest-growing and most stable submarkets.  Fairfield County has repeatedly ranked among the top ten wealthiest counties in the US and is home to fifteen Fortune 500 companies.

Stamford’s urban development, economic growth and transportation system has attracted a well-educated, affluent population and contributed to stable population growth and in turn, a robust housing market.

About Pensam Residential

Headquartered in Miami, Pensam Residential is a multi-housing owner and operator which manages a growing portfolio of properties across the United States.  Pensam encompasses all aspects of real estate property ownership and investment, including acquisition, financing, construction, repositioning, and management.  Pensam has invested in nearly 33,000 units across more than 110 properties.  For more information visit www.pensamresidential.com

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Pensam Residential VP of Acquisitions & Finance, Noah Miller, Speaking at ULI Leadership Institute in Miami on September 13

Noah Miller, Vice President of Acquisitions & Finance at Pensam Residential, will speak on a panel at the Urban Land Institute (ULI) Leadership Institute on Thursday, September 13, 2018. The panel, titled “Southeast Florida in Context”, will discuss the South Florida market including leadership, history, and future developments.

Moderator and Panelists include:

  • Tom Hudson, VP of News & Special Correspondent, WLRN Public Radio & Television
  • Rick Kolb, Vice President, Suffolk Construction
  • Matt Adler, Chief Investment Officer, Mast Capital
  • Aric Kurzman, Vice President of Legal & Business Affairs, Adrienne Arsht Center for the Performing Arts
  • Noah Miller, Vice President of Acquisitions & Finance, Pensam Residential

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Noah Miller Moderating Panel at 2018 Crittenden Real Estate Finance Conference in Miami – September 13, 2018

Noah Miller, Vice President of Acquisitions & Finance at Pensam Residential, will moderate a panel at The 2018 Crittenden National Real Estate Conference in Miami on Thursday, September 13, 2018.  The panel, titled “Multifamily Multifamily Debt, Equity & Investing: Finding the Right Fit” , will discuss market conditions, creating financing solutions and discuss the 2019 multifamily market forecast.

Panelists included:

Chad P. Musgrove, Vice President, Hunt Real Estate Capital
Denny St. Romain, Managing Director , JLL
Zachary Sackley, Executive Managing Director, Cushman & Wakefield
Michael J. Sommers, Senior Vice President, Grand Peaks

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Pensam Residential Closes Preferred Equity Investment for the Acquisition of a 626-Unit Multifamily Apartment Community in Harrisburg, PA

(Miami, FL.) —  June 7, 2018 –            Pensam Residential, a national multi-housing owner and operator, announced that it closed today on a preferred equity investment to facilitate the acquisition of a 626-unit multifamily apartment community located in Harrisburg, Pennsylvania.

Pensam’s investment was structured behind Freddie Mac senior debt financing. The sponsor is an experienced full-service real estate investment firm that manages and owns residential properties across the northeastern United States.

“This investment in a stable and well-maintained property with an experienced and reputable repeat Pensam sponsor presented a strong opportunity to continue expanding Pensam’s portfolio in the Northeast entering a new market, Harrisburg,” said Michael Stein, Founding Partner of Pensam Capital.

Constructed between 1968 and 1969, the property features a combination of studio-, one-, two and three-bedroom units that average 818 square feet. The property recently benefited from over $3,000,000 of capital improvements, primarily focused on unit interior upgrades. The property offers two tiers of unit interior packages, providing attractive and affordable options to a diverse tenant market.

The property is located in the Harrisburg MSA, the third largest in Pennsylvania with an estimated population of over 571,000.  Harrisburg serves as the capitol of Pennsylvania and is the county seat of Dauphin County.  The MSA thrives from a stable economic employment base comprised primarily in the state and federal government, and healthcare.

The property is conveniently located within close proximity to Interstate 83, which links Harrisburg to York and Baltimore to the south, and 1.2 miles from Interstate 81 a major U.S. interstate that runs from New York to Tennessee. These major thoroughfares offer residents convenient access to nearby education, employment, and cultural amenities throughout the Harrisburg MSA. The property is adjacent to Colonial Park Mall and is within close proximity to the area’s key retail centers such as Paxton Towne Center and Colonial Commons.

 

About Pensam Residential

Headquartered in Miami, Pensam Residential is a multi-housing owner and operator which manages a growing portfolio of properties across the United States.  Pensam encompasses all aspects of real estate property ownership and investment, including acquisition, financing, construction, repositioning, and management.  Pensam has invested in nearly 33,000 units across more than 110 properties.  For more information visit www.pensamresidential.com

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Noah Miller’s Panel at 2018 Crittenden National Conference Featured in GlobeSt.com

Noah Miller, Vice President of Acquisitions & Finance at Pensam Residential, moderated a panel at The 2018 Crittenden National Real Estate Conference in Los Angeles on Wednesday, April 25, 2018.  The panel discussion, titled “Multifamily Investing/Lending – How to Buy Right, Finance Appropriately and Stay Ahead in an Ever-Changing Multifamily World”, covered topics such as housing affordability, rent control and how adopting new technologies is disrupting the multifamily sector.  Natalie Dolce, national executive editor of GlobeSt.com, wrote an article covering the panel discussion:  Read the full story here: Dolce, Natalie. “How to Buy Right & Finance Appropriately.” GlobeSt.com, 27 April 2018  

Panelists included:

Mary Ann King, President, Moran & Company
Matthew Romney, Managing Director, Sundance Bay
Allan Freedman, Senior Vice President,  Berkadia Commercial Mortgage
Barry Altshuler, Executive Vice President of Investments, Equity Residential

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Noah Miller’s Panel at 2018 Crittenden National Conference Featured in GlobeSt.com

Noah Miller, Vice President of Acquisitions & Finance at Pensam Residential, moderated a panel at The 2018 Crittenden National Real Estate Conference in Los Angeles on Wednesday, April 25, 2018.  The panel discussion, titled “Multifamily Investing/Lending – How to Buy Right, Finance Appropriately and Stay Ahead in an Ever-Changing Multifamily World”, covered topics such as housing affordability, rent control and the impact of technological innovations on the multifamily sector.  Natalie Dolce, national executive editor of GlobeSt.com, wrote an article covering the panel discussion:  Read the full story here: Dolce, Natalie. “How to Buy Right & Finance Appropriately.” GlobeSt.com, 27 April 2018  

Panelists included:

Mary Ann King, President, Moran & Company
Matthew Romney, Managing Director, Sundance Bay
Jackson Cloak, Senior Managing Director,  Berkadia Commercial Mortgage
Barry Altshuler, Executive Vice President of Investments, Equity Residential

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Pensam Funding Closes $36 Million Bridge Loan for the Acquisition of a 304-Unit Multifamily Property in Houston, TX

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently provided a $36 million bridge loan to facilitate the acquisition of a newly-built 304-unit multifamily asset located in Houston, TX. Structured as a combined first mortgage and mezzanine loan, the combined loans represent over 85% of the acquisition purchase price. The non- recourse, floating rate loans are interest only with a two-year term.

“This Loan is representative of Pensam Funding’s ability to tailor unique and flexible financing solutions that meet the specific business plans of our clients,” said Michael Stein, Founding Partner. “We continue to support our clients in their purchase of value-add strategies, lease-up opportunities, recapitalizations, partially completed construction projects and other transitional situations.”

While traditionally focused on multifamily properties, Pensam Funding also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

 

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

 

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Pensam Funding Closes $17 Million Bridge Loan to Support the Acquisition and Repositioning of a 504-Unit Multifamily Asset in Montgomery, AL

Miami, FL – April 20, 2018           Pensam Funding, a direct real estate lender and affiliate of Pensam Capital, a fully integrated real estate investment platform, announced today that it recently provided a $17 million bridge loan to facilitate the acquisition, renovation, repositioning and lease-up of a 504-unit multifamily asset located in Montgomery, AL. The fixed rate loan was structured to meet the borrower’s unique needs, including mechanisms that enable the borrower to draw additional loan proceeds to support its capital investment plan.

“This Loan is representative of Pensam Funding’s ability to tailor unique and flexible financing solutions that meet the specific business plans of our clients,” said Michael Stein, Founding Partner. “We continue to support our clients in their purchase of value-add strategies, lease-up opportunities, recapitalizations, partially completed construction projects and other transitional situations.”

While traditionally focused on multifamily properties, Pensam Funding also considers lending opportunities in senior housing, manufactured housing, land and other real estate sectors.

 

About Pensam Funding and Pensam Capital

Headquartered in Miami, FL, Pensam Funding, an affiliate of Pensam Capital, is a private direct real estate lender which provides flexible and rapid capital solutions to experienced real estate sponsors across the capital stack including first mortgages, mezzanine debt, subordinate debt and preferred equity. For more information, visit www.pensamfunding.com.

Pensam Capital is a privately owned real estate investment platform.  Through its various affiliates, it owns or controls over 25,000 multifamily apartment units and invests in the multifamily sector through equity, preferred equity and debt structures. For more information, visit www.pensamcapital.com.

 

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