Boston-based West Shore, a fully integrated multifamily real estate investment firm ended 2020 with the acquisition of three new multifamily communities with nearly 900 units in prime markets. With these acquisitions, the firm owns and operates 30 residential communities with nearly 9,500 units as well as over $1.5 billion in value.
The newly purchased properties include the 276-unit Mark at Chatham in Savannah, Georgia; the 301-unit 500 East Apartments in Daytona Beach, Florida; and the 315-unit Broadstone Lake Walk in College Station, Texas.
“We continue to expand our portfolio of multifamily assets with the addition of these three exceptional properties,” said Steven P. Rosenthal, West Shore chairman. “We are very pleased to grow our presence and leverage our knowledge in these key markets in Texas, Georgia, and Florida, positioning us well for much additional future growth.”
According to Lee Rosenthal, West Shore president, the three multifamily communities provide both location and amenities that offer long-term value for the firm.
The Mark at Chatham is located minutes from the Savannah College of Art and Design and is nearby the historic downtown and some of the city’s largest employers. The brand-new community features stainless steel appliances, quartz countertops, wood-style flooring, and designer finishes. Amenities include a saltwater resort-style swimming pool, an outdoor kitchen, game areas, fire pits, a fitness center with yoga and cycle rooms, and a private pond. In Savannah, West Shore also owns and operates the 316-unit Grand Oaks at Ogeechee River as well as the 236-unit Walden at Chatham Center, which it acquired in September.
500 East Apartments also is a brand-new community in the heart of Daytona Beach. It features state-of-the-art amenities, including a resort-style saltwater pool, a covered loggia with a lounge and TVs, porch swings, an outdoor kitchen, a fire pit, and a fitness center. Unit floor plans include open concepts with screened-in lanais as well as gourmet kitchens with islands, granite countertops, and stainless steel appliances.
Broadstone Lake Walk will be integrated into the adjacent 8085 at Traditions multifamily community, a 657-unit property owned and operated by West Shore since 2018, to become Lake Walk at Traditions Apartments. The newly combined community includes 972 units. It features more than 50 one-, two-, and three-bedroom floor plans, with open concepts, 9-foot ceilings, chef-inspired kitchens, in-unit washers and dryers, and spacious walk-in closets. The gated properties also includes a wealth of luxury amenities, including four resort-style swimming pools with cabanas, four 24-hour fitness centers with two virtual fitness and training centers, four clubhouses, an outdoor putting green, four dog parks, electric car-charging stations, and outdoor gaming areas.
The community, which is located in the Traditions Golf Community master plan, is in the heart of the Research Valley and BioCorridor and near Texas A&M University. West Shore also owns and operates SoCo at Tower Point, a 318-unit multifamily community in College Station.
