Atlanta (Nov. 25, 2019) – PENLER, an Atlanta-based multifamily real estate investment platform, is announcing the construction start of its first development – The Parker in Dawsonville, Georgia.
“Our strategy is to enter suburban markets with little new supply, great demographics, good schools, proximity to retail and employment centers and deliver first class multifamily rental communities,” said Managing Partner Brian Metzler. “We will build cost-effectively and deliver a luxury product with high-end unit finishes and an impressive amenity packages at rents attainable to a large portion of households in the area.”
The development will utilize only a portion of the site, a flat meadow sitting alongside Thompson Creek and a heavily forested hillside, leaving over half of the large 40-acre site undisturbed. The two-story gated community will have 240 one-, two- and three-bedroom apartments. Amenities will feature a centrally located 1.3-acre great lawn and resident gathering area as well as a large resort-style pool with sundeck and grilling areas, a dog park and walking trails. The clubhouse will feature a 24-hour fitness center, cyber café and activity areas. The apartments are direct entry, which means residents will walk directly into their apartments without stairwells or corridors, creating a townhome feel and blending in with the high-end residential housing nearby.
Atlanta/Charlotte, N.C. (October 4, 2019) – PENLER, a new multifamily real estate investment platform, just acquired its first asset in downtown Charlotte for approximately $55 million. PENLER also recently added two new partners to fill the key roles of Chief Financial Officer and Director of Asset Management. Plus, the firm expects to start its first development project next month.
The Atlanta-based firm acquired Presley Uptown, a 230-unit luxury property in Charlotte, N.C. on Monday, Sept. 30. JLL Income Property Trust was PENLER’s institutional investment partner in the transaction. Uptown is one of Charlotte’s most popular and fastest-growing neighborhoods. Located just off I-277, the pet-friendly community is near several shopping, dining and entertainment options as well as greenspace and major sports arenas. A Lynx Blue Line rail station and a new Whole Foods are within walking distance of the property.
Initial GP Equity Commitment is Sufficient to Capitalize $800 Million in Deals
Atlanta (January 23, 2019) – Real estate veterans Brian Metzler and Graham Carpenter have joined forces to establish PENLER, a new multifamily investment platform. The goals of the new company, headquartered in Atlanta, include the acquisition, development and asset management of apartment communities across the Sun Belt.
Throughout their collective 30+ years in real estate, the co-founders and managing partners have closed more than $5.2 billion in multifamily investments and development comprised of more than 28,000 units across the country. Their resumes include leading some of the largest multifamily deals in Atlanta history.