Croatan Investments News 2018-04-26T21:22:44+00:00
Photo of renovated Leasing Office and Clubhouse at Waters Edge in Atlanta, GA

Croatan Investments Welcomes Geoffrey Chen and William McKinnon to the Team

September 24, 2018|

Croatan Investments announces two new members to the team!

Geoffrey “Geo” Chen is a Principal at Croatan Investments and is involved in business development and capital sourcing. He started his career in New York City as a currency trader for the Royal Bank of Scotland. He then segued to Credit Suisse in Singapore where he managed the developed markets currency trading business. In 2017, Geo left the banking industry to manage his capital through his family office, Stratosphere Trading.

Geo is active in the Asian investment community as well as philanthropy, where he supports causes in environmental conservation and humanitarian aid. He received his Bachelors of Science degree from Duke University.

William McKinnon joins us as Managing Director of Capital Markets at Croatan Investments. He focuses his efforts on originating and structuring capital markets solutions for the firm’s initiatives ranging from equity, fund management, and corporate level debt. Prior to Croatan, William was an independent Broker Dealer for 15 years. During that time, he completed 65 capital offerings, was the sell side advisor on 35 M&A transactions, structured non-recourse CMBS financing for real estate owners, and was the primary market maker for 300+ OTC listed companies.

William received his Bachelor’s degree in economics from Roanoke College.

We are excited to expand the Croatan family!

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Cushman & Wakefield Arranges Sale for Croatan Investments and Brightman & Gil REIM

August 3, 2018|

As published on Atlanta CityBizList:

Cushman & Wakefield has arranged the sale of Park Place, a 198-unit apartment community located in Peachtree City, Georgia. Nathan Swenson and Josh Goldfarb of Cushman & Wakefield represented the seller, Croatan Investments and Brightman & Gil REIM, in the transaction. A private California-based investment group acquired the property.

“Park Place provides a rare opportunity to own in one of metro Atlanta’s most exclusive and high-barrier suburbs,” Swenson said. “Peachtree City’s affluent demographics, top-tier schools and limited multifamily inventory werevery attractive to the buyer for achieving both near and long-term investment objectives.”

Park Place, built in 1988, is located in one of Georgia’s wealthiest cities in an area consistently ranked among the top in the country for quality of life and school system excellence.

http://atlanta.citybizlist.com/article/493797/cushman-wakefield-arranges-sale-for-croatan-investments-and-brightman-gil-reim

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Croatan Investments Welcomes Angus Yau to the Team

August 1, 2018|

Angus joins us as an Associate and is involved in transactions and asset management for the company. Prior to joining Croatan Investments, he served as a Senior Analyst on Cushman & Wakefield’s Research & Consultancy team in Hong Kong. While there, he focused on providing reports and research on the residential, office, retail and industrial sectors and providing advisory services to financial service firms and developers. Angus has also worked for Smithfield Foods, Inc. as an operations analyst.

Angus received an MBA from The College of William & Mary’s Raymond A. Mason School of Business and a BS in Business Administration with a double major in Finance and Business Analytics from Old Dominion University. He is a native of Hong Kong and is fluent in English, Cantonese, and Mandarin.

Aside from adding to the robust entrepreneurial spirit here at Croatan, Angus is also a car enthusiast, enjoys reading, traveling and the outdoors. We are excited to grow the Croatan Family!

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Croatan Investments and JV Partner Bentall Kennedy Acquire Ultris Banyan Grove

July 31, 2017|

Croatan Investments and Joint Venture Partner Bentall Kennedy (U.S.) Limited Partnership announced today that it has acquired Ultris at Banyan Grove, a 288 unit apartment complex located in Virginia Beach, VA in partnership with Warba Bank K.S.C.P.

“The joint venture with Croatan Investments provides an exceptional opportunity to work with an operator who has local knowledge and a long track record in the Hampton Roads area,” said Kevin Rivest, Senior Vice President – Transactions, Bentall Kennedy.

Ultris Banyan Grove is a Class A, multifamily community comprised of 13 buildings with 288 units. Built in 2003, this apartment community boasts spacious floor plans and a full spectrum of community amenities. Centrally located in Virginia Beach, Ultris Banyan Grove provides convenient access to the Oceanfront area and many of the employment centers throughout Hampton Roads.

“Ultris Banyan Grove provided an opportunity to acquire a multifamily asset in a market with low volatility and strong demand for rental housing. It is expected to provide steady income returns throughout the investment period,” said Clint Hinds, Senior Vice President, Bentall Kennedy.

 

About Bentall Kennedy

Bentall Kennedy, a Sun Life Investment Management company, is one of the largest global real estate investment advisors and one of North America’s foremost providers of real estate services. Bentall Kennedy serves the interests of more than 550 institutional clients with expertise in office, retail, industrial and multi-residential assets throughout Canada and the U.S. Bentall Kennedy’s Investment Management group has approximately $35 billion (USD) of assets under management. They are one of the largest Real Estate Services providers in Canada, managing 58 million square feet on behalf of third-party and investment management clients (as of March 31, 2017). Bentall Kennedy is a member of UN PRI and a recognized Responsible Property Investing leader ranked among the top firms around the globe in the Global Real Estate Sustainability Benchmark (GRESB) for the sixth consecutive year since GRESB was launched.

Bentall Kennedy includes Bentall Kennedy (Canada) Limited Partnership, Bentall Kennedy (U.S.) Limited Partnership and the real estate and commercial mortgage investment groups of certain of their affiliates, all of which comprise a team of real estate professionals spanning multiple legal entities. The assets under management shown above include real estate equity and mortgage investments of the companies within Bentall Kennedy. All amounts cited are in U.S. dollars.

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Croatan Investments Welcomes Don Foster to the Team

July 19, 2017|

Croatan Investments announces the addition of its newest team member, Don Foster. Don will join as a Principal of the firm and will focus his efforts on sourcing multifamily acquisitions, overseeing dispositions and loan refinancings.

Don brings a wealth of knowledge and experience to the Croatan table. In his career, he has completed over $2 billion in multifamily acquisitions and dispositions throughout the Southeast, Midwest, and Southwest. Prior to joining Croatan, Don has completed more than $2 billion in multifamily transactions over the course of two decades. He was the Director of Acquisitions at Fogelman Properties and held senior positions at UDR, Archon Residential (a Goldman Sachs Company), and Harbor Group International. Don earned his Bachelor of Science degree in Business from East Carolina University.

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Croatan Investments Purchases Waypoint at Hampton

July 18, 2017|

Croatan Investments closed on the purchase of Waypoint at Hampton, a 210-unit class B apartment community located in Hampton, Virginia.

The property has been renamed Luna Pointe Apartments.  Along with the name change, the company intends to start upgrading the property immediately. Croatan will kick off a Green initiative to replace existing plumbing with low-flow, water saving devices in all the apartment units. The common areas and building exteriors will be upgraded. There will be improvements to the pool area with new lush outdoor patio furniture, an expanded clubhouse and fitness center, a community fire pit and sitting area, landscape improvements and addition balcony accents and new exterior color scheme to the buildings. Each unit interior will receive premium silver or black appliances, brushed nickel hardware, modern lighting packages and upgraded flooring. Croatan has been exceptionally effective at improving the operations of their assets and realizing their profit potential.

Paul Van, Managing Partner of Croatan Investments, sticks to the company’s mantra of “maintaining our portfolio to their existing high standard and beyond.”  Croatan Investments continues to evaluate Hampton Roads for opportunities and believes the local economy will increase in tandem with growth in the port and potential increases in the defense spending.

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Croatan Investments Acquires Springhouse Apartment Homes

August 10, 2016|

Croatan Investments has purchased Springhouse Apartment Homes, a 432-unit class B apartment community located off Interstate 64 near the bustling Oyster Point business district.

At Springhouse, residents have convenient access to brand name stores such as Whole Foods, Trader Joes, Costco, Target and Fresh Market. The property is also close to major employment drivers such as Jefferson Lab, Canon, Ferguson Enterprises and City Center at Oyster Point. “This is a beautiful community with both an incredibly stable operating history and enormous profit potential,” says Paul Van, Managing Partner of Croatan Investments. “We intend to maintain the property to its existing high standard and beyond.”

Croatan plans to implement a full-scale renovation at Springhouse. The common areas, including the clubhouse, will be upgraded. There will also be improvements to the resort pool area plus new lush outdoor patio furniture, an expanded fitness center, a community fire pit and sitting area, landscape improvements and addition of stacked stone and accent colors to the buildings. Each unit interior will receive premium silver or black appliances, granite kitchen and bathroom countertops, custom kitchen and bathroom cabinetry with brushed nickel hardware, modern lighting packages and new plush carpeting and wood-grain plank flooring.

Established in 2016, the core team at Croatan Investments previously worked together at investment firm FortCap Partners. In early 2016 Croatan purchased four apartment assets in Atlanta, Georgia in partnership with institutional fund managers. Including legacy FortCap assets managed by its team, the Croatan portfolio boasts almost a dozen apartment complexes across the Southeast from Virginia to Florida.

“We’ve always kept a close eye on Hampton Roads but have historically preferred to focus on large markets in the Southeast,” says Van. “While we do not have a set allocation goal for the geography of our portfolio, we do believe that we still need to add more weight to Virginia to complement our other holdings. We see a window of opportunity to make good buys in an area that has historically proven to be recession-proof, currently has less expensive asset pricing than other markets and is in our own backyard. We also believe the local economy may pick up if the new administration achieves his goal of increasing the military budget. Our firm is currently evaluating making multiple investments in Hampton Roads.“

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.

Croatan Investments executes joint venture equity recapitalization in Atlanta, GA

June 8, 2016|

Croatan Investments partners with Federal Capital Partners and Brightman-Gil Investment Management of Tel Aviv in a joint venture equity recapitalization of a three-property, 567-unit multifamily portfolio in Atlanta, GA consisting of The Clarion Apartments in Decatur, Gables Apartments in Peachtree City and Magnolia at Whitlock in Marietta.

Cushman & Wakefield’s Mike Ryan, Telly Fathaly, Jeff Walker, and Brian Linnihan represented the firm. The portfolio includes 567 units, with an average vintage of 1983. The Cushman & Wakefield team secured a mix of domestic and international private equity to complete the recapitalization of the assets.  Federal Capital Partners of Chevy Chase, MD, provided equity for The Clarion and Magnolia at Whitlock and Brightman-Gil Investment Management of Tel Aviv provided equity for Gables Apartments.

“We received offers from several distinct capital partners for various portions of the portfolio,” said Ryan, Senior Managing Director in Cushman & Wakefield’s Equity, Debt & Structured Finance Group. “We worked with Croatan to assess the benefits of the individual and combined proposals and ultimately settled on a blended execution to maximize valuation, further the value-add business plan and satisfy Croatan’s strategic growth initiatives.”

About Croatan Investments

Croatan Investments is a real estate investment firm headquartered in Virginia Beach, Virginia, and was founded to create wealth opportunities in investing in extremely well-located, high quality real estate with excellent intrinsic value with the goal of creating and preserving the wealth of its investors. Croatan Investments utilizes the extensive transactional experience and market knowledge of its principals to opportunistically invest in real estate and operate these assets to their full potential.