ST. PETERSBURG, Fla., Sept. 22, 2021 /PRNewswire/ — Right this moment Frequent introduced it has been chosen to handle The Wayland, a newly renovated multifamily property within the coronary heart of Downtown St. Petersburg, owned by Atlas Actual Property Companions (“Atlas”) and Skylight Actual Property Companions (“Skylight”). Frequent, the quickest rising actual property model that designs, manages and leases residences throughout the US will now handle all 481 items of the property. The newly upgraded constructing consists primarily of studios and one-bedrooms and options Class A-quality facilities. Frequent’s distinctive renter-first property administration fashion and Atlas Actual Property Companions’ trade experience will carry a brand new way of life to St. Petersburg, outlined by elevated worth and a concentrate on group.
Acquired in 2017, Atlas and Skylight noticed a chance to redefine residing in St. Petersburg, Florida with a constructing that allowed residents to get essentially the most sought-after facilities at attainable worth factors. With an elevated want for high quality rental housing within the bustling Downtown neighborhood, The Wayland acts as the final word residing vacation spot for younger professionals and repair employees alike. The constructing options an expansive co-working area out there to residents along with a resident lounge and sport room. The area additionally gives room for residents to host mates with a resident kitchen, resort-style pool, sundeck, turf garden, fireplace pits and a barbecue space.
“We’re thrilled to companion with a forward-thinking administration firm like Frequent who understands the calls for of immediately’s renter,” Director of Investments at Atlas Actual Property Companions, Joe Stampone mentioned. “Frequent’s concentrate on the resident expertise aligns completely with our long-term possession strategy and purpose of making a product and expertise tailor-made to our residents.”
Having entered the actual property world in 2015 with coliving properties, conventional residences now make up over 50% of Frequent’s present 7,000 managed unit portfolio. The Wayland is Frequent’s first constructing within the Tampa Bay space and a flagship for its conventional multifamily administration. A brand new type of property supervisor, Frequent focuses on designing, leasing and managing the kind of condo buildings folks actually need to stay in. By means of an in-house know-how stack and ultra-convenient providers, Frequent is ready to present its members with a seamless shifting and residing expertise in a world the place renting is more and more traumatic.
“As we proceed to develop our property administration model throughout Florida, I’m thrilled that Frequent has been chosen to function The Wayland,” mentioned Amalia Paliobeis, Frequent’s Senior Managing Director of Actual Property. ” The groups at Atlas Actual Property and Skylight Actual Property Companions have constructed a portfolio of communities completely fitted to the Tampa Bay resident. Including our advertising and marketing and administration experience will certainly make The Wayland a optimistic and linked place to stay in St Petersburg.”
Rents at Wayland are beginning at $1,250 monthly and embrace newly renovated residences, group occasions, reductions to native and nationwide manufacturers, and entry to the entire constructing’s considerate facilities. Frequent has over 22,000 signed items beneath improvement in 22 cities throughout the globe, and continues to disrupt the property administration area. This previous 12 months, Frequent acquired administration agreements from its largest competitor Starcity, introduced main expansions in Philadelphia and LA, added former Deputy Mayor of New York Metropolis Alicia Glen to its Board of Administrators and raised $50 million in its Sequence D enterprise capital funding spherical from Kinnevik.
Frequent is a residential model creating a greater type of multifamily property supervisor by improvements in know-how, design, and operations. Frequent delivers distinctive experiences for renters throughout twelve cities and almost 7,000 items in coliving, microunit, and conventional residences. They’re the popular alternative for each residents on the lookout for a stress-free and all-inclusive residing atmosphere from a trusted model, and for actual property homeowners searching for dependable, above-market returns. The Frequent platform additionally consists of workforce housing administration model Noah and family-first operator Mily. With over 22,000 items signed and beneath improvement and over $110 million in enterprise capital funding, Frequent is increasing into 22 cities the world over. To work with us, go to our companions web page or observe us on instagram at @frequent.residing.
Atlas Actual Property Companions is a privately-held actual property funding agency with workplaces in New York, NY and Miami, FL.
Since its formation in 2009, Atlas has closed over 50 acquisitions and improvement initiatives with a complete capitalization of $1.5B unfold over ~10,000 residential items and ~1.4 MM sq. ft of economic area in quite a few markets all through the Southeast and Mid-Atlantic. Atlas is concentrated on rising its multifamily and housing portfolio by value-add acquisitions and its Alternative Zone Platform which incorporates over $200M in ground-up multifamily improvement. Be taught extra at https://www.atlasrep.com/.
Skylight Actual Property Companions is a privately held actual property funding agency with deep expertise buying, creating and managing residential and industrial property within the prime US markets of New York, New Jersey, Washington D.C., Central and South Florida.
The staff’s administration platform is concentrated on three complementary funding methods: distressed, value-add and improvement alternatives. Since 1998, the founding companions have collectively invested $5.5 billion of fairness in property totaling over $15 billion of gross asset worth. This expertise includes over 9,000 residential items and 20 million sq. ft of workplace and retail property.
Skylight gives its buyers, tenants and companions intensive market data, long-standing relationships and institutional considering fueled by a motivated and deeply skilled management staff with a confirmed document of constant success. Be taught extra at www.Skylightrep.com.
CONTACT: Phoebe Dinner, [email protected]