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21 minute read
Portfolio Changes and In The
from ABODE June 2020
The following owner/management companies have added the listed properties to their portfolios:
• Allied Orion Group: Heritage Estates, 210 units at 10335 Old Bammel N. Houston Road. • Asset Living: Westbury Reserve, 320 units at 12261 Fondren Road. • Avenue5 Residential: The Cantania, 280 units at 5105 Airline Drive. • Better World Properties LLC - Sumar: Smart Living at Cypress Creek, 300 units at 12850 Perry Road and Amir Apartments, 310 units at 5555 W. Gulf Bank Road. • Blue Stone Premier: The Park Saronno, 316 units at 10580 Hammerly Blvd.; The Park at Tivoli, 250 units at 12903 Sugar Ridge Blvd., Stafford; The Park at San Marino, 384 units at 14501 Empanada Drive; The Park at Pisa, 279 units at 2410 S. Kirkwood Road; The Park at Salerno, 198 units at 12801 Champion Forest Drive; Siena on Westheimer, 643 units at 6263 Westheimer Road; and the Park at Amalfi, 169 units at 1000 Country Place Drive. • Capstone Real Estate Services Inc.: The Park at Tour 18, 241 units at 18110 Hunters Terrace Drive, Humble. • CKR Property Management LLC: The Remington Apartments, 146 units at 1010 Magnolia Street, Freeport. • Driscolle Adhere: Driscolle Adhere, 35 units at 1304 Gears Road. • EnVest Partners LLC: The Forham at Eagle Springs, 137 units at 18021 Eagle Springs Parkway, Humble. • EOS Real Estate Management Group: Richmond Chase, 292 units at 8155 Richmond Ave. and The Lodge on El Dorado, 324 units at 265 El Dorado Blvd., Webster.
• Fairfield Properties LP: Falcon Landing, 386 units at 3300 Falcon Landing Blvd., Katy. • FHM Real Estate LLC: Scharpe Street Apartments, four units at 1505 Scharpe St. • Global Capital Holdings LLC: Crossings at 31 st, 90 units at 1320 31 st St. N., Texas City. • Greystar: Alexan Lower Heights, 375 units at 2770 Summer St. and Elan Med Center Apartments, 281 units at 7010 Staffordshire Blvd. • Herman & Kittle Properties Inc.: The Vireo, 248 units at 12212 Tidwell Road. • Hunington Residential Inc.: The Vic at Southwinds, 265 units at 1900 Kilgore Parkway, Baytown. • MDDD Investments LLC: MDDD Investments LLC, 12 units at 1923 McDuffie St. • Mosiac Residential Inc.: 2111 Holly Hall, 569 units at 2111 Holly Hall. • MTSM Inc.: Porter 12, 12 units at 22195 E. Martin Drive, Porter. • Oak Leaf Management Co.: Spring Village, 132 units at 11810 Chimney Rock Road and Mangum Oaks, 38 units at 4702 Mangum Road. • PAALS N Partners: Gentry Apartments, 107 units at 13925 Alderson St. • Rise Residential Management: Sienna Villas Apartments, 156 units at 902 N. Avenue J, Freeport. • Rita Brummer: Fieldstone Apartments, 138 units at 3201 Red Bluff Road, Pasadena and Embers Apartments, 90 units at 2120 Strawberry Road, Pasadena. • Roscoe Properties: Commons at Hollyhock, 624 units at 5751 Greenhouse Road, Katy. • Tarantino Properties Inc.: The Edge at Langham Creek, 115 units at
15831 Yorktown Crossing Parkway. • Trinity Multifamily: Oaks at Mustang, 125 units at 2101 Mustang Road, Avlin. • Valiant Residential: The Belvedere at Springwoods Residential, 342 units at 2323 E. Mossy Oaks Road, Spring. • Watertight Property Management LLC: The Villas, 24 units at 309 E. Houston St., Dayton.
In the News
The Houston Apartment Association donated $100,000 to the Alliance of Community Assistance Ministries (ACAM) specifically for renter assistance. Other HAA members have stepped up to donate, too. See Page 76 for a list of HAA-member donors.
Pamela McGlashen joins Kaplan’s executive team as president of management.
HAA President Clay Hicks presented during Mayor Sylvester Turner’s press conference at Houston City Hall on Tuesday, May 5 to support the proposed $15 million renter assistance pro- gram coordinated by the city and BakerRipley. On Wednesday, May 6, Houston City Council voted unanimously to pass the $15 million rental assis- tance program. See Page 9 for photos.
In the month of April, HAAmember Norma Alvear, a property manager for SMI Realty Management, was interviewed by Univision and Telemundo about 20 times for HAA, the Apartment Association of Greater Dallas and the Austin Apartment Association as an HAA rep- resentative on rental assistance options, includ- ing the ACAM fund, renters resources amid COVID-19, liens and lockouts for nonpayment of rent, eviction moratoriums and more for Univision and Telemondo. Alvear
HAA President Clay Hicks, Past Presisdent Starla Turnbo and President-elect John Boriack have interviewed with local news stations and shows, such as Fox 26 News and NPR’s Houston Matters, on rent strikes, rental assistance options and more.
Have something to report from your company or for yourself? Email us your news at comm@haaonline.org.
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COMMUNITY OUTREACH
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THE HOUSTON APARTMENT Association Community Outreach Committee was formed in 1980 as the Community Relations Department under the leadership of HAA member Alan Rudy. It was formed to create a liaison between the Houston Apartment Association and the community. The committee was to identify positive, housing-related community service projects and reach out to members with volunteer opportunities. Today, the Community Outreach Committee still looks at projects with that original mission in mind.
The Early Days
The Community Outreach Committee first community service project was education. The committee went to a Houstonarea high school to educate high school students on apartment renting. The endeavor was met with such positive response, a separate program was created for education called the Speakers Bureau, today known as the Career/Community Development Committee.
The committee continued with its community service involvement, creating a program in 1985 called Clean Houston Program. The City of Houston and the state of Texas gave HAA a certificate of appreciation for HAA’s efforts to reduce pollution caused by apartments.
The following year, the Community Outreach Committee coordinated a Celebrity Waiters or Costumes for a Cure dinner event to raise funds to benefit the Houston chapter of The Leukemia & Lymphoma Society. With apartment property and management company employees waiting tables, this event was such a success, it continued for 15 years. In total, the committee raised $365,000 to support leukemia research over its 15-year run.
HAA created an Anti-Drug Task Force in 1989, under the lead of then-HAA President Jack Dinerstein, to raise money for the Houston Police Department. The following year, Dinerstein, who was the task force chairman at that time, and the 1990 HAA President Mike Biggs presented a donation of $70,000 to the Houston Police Department for the Drug Abuse Resistance Education program or DARE, an education program that seeks to prevent the use of drugs and violence.
For a couple years, starting in 1991, HAA was heavily involved in the rehabilitation of the Rehab Mission, a 30-unit apartment community, which at the time was Houston’s only shelter for elderly homeless people. HAA members executed the electrical, plumbing and air-conditioning installments, as well as other improvements. At the end of the two-year project, HAA raised $200,000 in cash donations, labor and supplies.
The Pink Ladies, a women-only golfing event, was created in 2002 and lived on through 2010. Lead by Carol Marple, the event raised money for breast cancer awareness and was held in October to celebrate Breast Cancer Awareness Month. The first event raised $15,000 and the 2010 outing raised $51,000. In total, the Pink Ladies raised $275,000 for the American Cancer Society.
A Long-lasting Partnership: Houston Food Bank
Since 1983, HAA members have collected food for the Houston Food Bank. Now 37 years later, both supplier partners and apartment properties still participate each year. Residents of the properties that participate join in on the donations, too.
The very first food drive HAA held was called the Food Fireworks Campaign and they collected 3,100 pounds of food. Data
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The history of the Houston Apartment Association’s community service efforts.
was not collected for the years that have followed, but if you multiply that times the number of years HAA has held its Food Drive, that equals 114,700 pounds. Today, hundreds of apartment properties and supplier companies collect food each year.
In 2019, Lauren Scruggs with The Woodlands Lodge of Francis Property Management won first place for a property with the highest number of food items collected. Francis Property Management won first place for a management company with the most food items collected. And, Monica Morales of Las Villas de Magnolia of Whitney Management won first place for a property with the highest number of food items collected per number of units.
The annual HAA Food Drive was one of the first Community Outreach Committee partnerships and its one that still has an impact today. Every year, HAA’s donation to the Houston Food Bank is televised. It involves the membership collecting food items onsite, delivering them to supplier members Camp Construction Services and Cotton Commercial USA locations where volunteers pack, sort and load the food to be delivered to the Houston Food Bank. It’s involved and takes a lot of work, but it brings HAA members together and it supports Houston’s less fortunate.
Since 2018, Marlo Simmons of Stratis has pushed to grow this initiative to be even bigger than what it is today. Simmons challenged apartment property supervisors to sign up entire portfolios to participate and incentivized them with a weekend trip to the beach. Simmons started a decorating contest among apartment property teams for collection areas. Prizes given out to teams for first, second and third place.
Sports Challenge
This event has been part of HAA since 2003. Originally the AlLStars Sports Challenge, this sport-centered, team-building event has raised money for various causes over the last 16 years. The event initially raised money for the ALS division of the Muscular Dystrophy Association to honor past members lost to ALS, including HAA founding member Ronny Finger.
Over the years, the event has raised money for other organizations such as the Red Cross, Alliance of Community Assistance Ministries, Crime Stoppers of Houston and Camp Hope.
This event, created by the Community Outreach Committee, serves the committee’s mission, but it also brings all areas of our membership together within a teambuilding environment, an equally important objective of the event.
In the 16 years HAA held this event, over $298,000 has been raised for charities.
Rebuild Houston
Rebuild Houston is a company that provides free home repair to senior citizens, veterans, homeowners with disabilities or working families affected by disasters. Last year, the HAA Community Outreach Committee and HAA-member volunteers spent a day painting and making light repairs for the first time. This was slated to take place again this year, but with COVID19 affecting the way we live, work and even volunteer, it is unclear if that will happen again in 2020.
The Community Outreach Committee coordinates other community service projects year-round and hosts an annual blood drive and school supply drive. Thank you, Community Outreach Committee, for connecting HAA with other organizations that serve the Houston-area community.
A/C Supplies
Century A/C Supply . . . . . . . . . . . . . . . . . . . . . . . . . . .2 281-530-2859 . . . . . . . . . . . . . . . . . .www.centuryac.com
Carpet Installation
Dixie Carpet Installations . . . . . . . . . . . . . . . . . . . .56 281-261-6334 . . . . . . . . . . . . . . . . .www.dixiecarpet.com Texas Southwest Floors . . . . . . . . . . . . . . . . . . . . .70 800-719-4321 . . . . . . . . . . . . . .www.texasswfloors.com
Collection Agencies
Alexander-Rose Associates Inc. . . . . . . . . . . . . . .51 713-644-4441 . . . . . . . . . . .www.alexanderrose-inc.com
Electric Contractors
Affordable Quality Electric . . . . . . . . . . . . . . . . . . .13 713-695-5992 . . . . . . . . . . . . . . . . .www.acuityelectric.com Brandt Electrical A/C & Heating Services . . . .35 281-693-3383 . . . . . . . . . . .www.brandtelectrical.com
Foundation Repair
Church Foundation Repair . . . . . . . . . . . . . . . . . . .17 713-468-8400 . . .www.churchfoundationrepair.com
General Contractors
Camp Construction Services . . . . . . . .Back Cover 713-413-2267 . . . . . . . .www.campconstruction.com Cotton Commercial USA Inc. . . . . . . . . . . . . . . . . .10 877-511-2962 . . . . . . . . . . . . . . . . . . . .www.cottongds.com Crestmark Construction Services . . . . . . . . . . . .15 713-426-6161 . . . . . . . . . . .www.crestmarkservices.com FSI Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37 832-767-1115 . . . . . . . . . . . . .www.fsiconstruction.com Gemstar Construction & Development . . . . . . . .1 281-821-1195 . . . . . .www.gemstarconstruction.com Guardian Construction . . . . . . . . . . . . . . . . . . . . . . .45 832-672-4196 . . . . . . . . . . . .www.guardianconst.com MultiFamily Services . . . . . . . . . . . . . . . . . . . . . . . . .47 713-266-9100 RENCON . . . . . . . . . . . . . . . . . . . . . .Inside Back Cover 713-666-3636 . . . . . . . . . . . . . . . . . . . . . .www.rencon.com
Glass – Plate, Window, Etc.
Ameristar Screen and Glass . . . . . . . . . . . . . . . . . .51 713-683-6767 . . . . . . . . . . . . .www.ameristarglass.com
Insurance
Harco Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36 713-681-2500 . . . . . . . . . . . . . . . . . . .www.harco-ins.com
Landscape Contractors
Outdoor Elements . . . . . . . . . . . . . . . . . . . . . . . . . . .36 713-955-0990 . . . . . .www.outdoorelementstx.com Texscape Services . . . . . . . . . . . . . . . . . . . . . . . . . . . .46 281-846-3779 . . . . . . . . . .www.texscapeservices.com
Laundry Equipment & Supplies
Scott Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . .71 713-686-7268 . . . . . . . . .www.scott-equipment.com
Locks & Locksmiths
CKI Wholesale Lock Supply . . . . . . . . . . . . . . . . . .36 713-462-0704 . . . . . . . . . . . . . . . . . . . . .www.ckilock.com
Personnel Agency
ASAP Personnel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51 972-432-6667 . . . . . . . . . . . . . . . . . . . . .www.asapdo.com
Plumbing Contractors
AAA Plumbers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 713-462-4753 . . . . . . . . . . . . . . . . . .www.aaaplumbers.com
Resident Screening Service CoreLogic Rental Property
Solutions . . . . . . . . . . . . . . . . . . . . .Inside Front Cover 888-297-8821 . . . . . . . . . . . . . . . . . . .www.corelogic.com
Screens
Ameristar Screen and Glass . . . . . . . . . . . . . . . . . .71 713-683-6767 . . . . . . . . . . . . .www.ameristarglass.com
Security Control Equipment/Systems
SentriForce . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .57 888-671-2202 . . . . . . . . . . . . . . . . .www.sentriforce.com
Swimming Pool Service
Poolsure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65 800-858-POOL . . . . . . . . . . . . . . . . .www.poolsure.com
Trash Hauling
Waste Management . . . . . . . . . . . . . . . . . . . . . . . . .50 713-354-5230 . . . . . . . . . . . . . . . . .www.thinkgreen.com
HAA Products & Services
Rental Credit Reporting . . . . . . . . . . . . . . . . . . . . .29 713-595-0300 . . . . . . . . . . . . . . .www.haaonline.org/rcr
HAA reserves the right to reject any advertising if its content is inappropriate or inconsistent with HAA’s standards for publication or HAA’s business interests, in HAA’s sole opinion.
TARGET QUALIFIED LEADS
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With HAA’s job board, you’ll discover a professional community that’s committed to helping you find the right candidate or your next job opportunity in the greater Houston and surrounding areas.
www.haaonline.org jobs@haaonline.org 713-595-0300
www.haaonline.org/rcr
HOUSTON
Snapshot
Occupancy: Price: Rental Rate: Size: 89.4% $1,051/mo. $1.19/sq.ft./mo. 884 sq.ft.
Past 12 Months: 1.2% rental rate growth 10,180 units absorbed
Operating Supply: 2,855 communities 670,535 units
Recently Opened (12 months): 66 communities 17,872 units
Under Construction: 79 communities 22,885 units
Proposed Construction: 86 communities 26,622 units 1050 –1025 –•
Rental Rate (¢/sq.ft./mo.) 1000 –975 –
May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 20
History of Effective Rental Rate & Occupancy for All Units
Feb 20 Mar 20 Apr 20
Hottest Submarkets Over the Past Three Months Annualized % of Market Rank Submarket Absorbed 1 Baytown 14.6% 2 Bear Creek/Copperfield/Fairfield 4.4% 3 Heights/Washington Ave 2.8% 4 Beltway 8/I-45 South 0.9% 5 Almeda/South Main 5.4% Rental Rate
Growth % 1.4% 1.0% 1.6% 1.7% 0.7%
Concessions
Total Units Class w/Concessions All 316,089 A 84,554 B 130,951 C 89,321 D 11,263 % of Total Units 47% 55% 49% 44% 25% Average Citywide Special Effect -3.1% -6.4% -4.6% -8.1% -2.5% -5.1% -2.4% -5.4% -1.6% -6.1% One Month Free = -8.33%
THE FIRST TABLE ABOVE GIVES A SNAPSHOT of the current market conditions. The graph displays the overall occupancy and effective rental rates over the past 24 months. These statistics are derived from a continuous survey of all apartment communities in the Houston region. The effective rental rates are the calculated net of concessions and utility adjustments. The second table lists the five hottest submarkets in the Greater Houston area. There are a total of 42 submarkets, and the ranking is based on the best combination of rental rate growth and absorption over the past three months. The third table distributes and analyzes concessions (specials) by classification. Concessions generally are represented by three types of specials: move-in, months free or floor plans. The effect of these specials is captur ed and prorated over a lease term to arrive at a percentage reduction in market or street rents.
TEXAS
Dallas/Ft. Worth
Occupancy: 91.4% Price: $1,166/mo. Rental Rate: $1.33/sq.ft./mo. Size: 876 sq.ft.
Past 12 Months: 2.7% rental rate growth 20,795 units absorbed
San Antonio
Occupancy: 89.9% Price: $972/mo. Rental Rate: $1.14/sq.ft./mo. Size: 854 sq.ft.
Past 12 Months: 0.4% rental rate growth 3,599 units absorbed
Austin
Occupancy: 90.5% Price: $1,297/mo. Rental Rate: $1.48¢/sq.ft./mo. Size: 874 sq.ft.
Past 12 Months: 1.9% rental rate growth 7,994 units absorbed ApartmentData.com has been providing apartment data and marketing products since 1986. ApartmentData.com provides real-time access for property specific information, market surveys and historic submarket data for more than 3.5 million apartment units in Texas, Florida, Georgia, Arizona, North Carolina and Tennessee. For more information, contact Bruce McClenny at 800-595-8730. © 2020 ApartmentData.com
June 2020 ABODE 75
Thank you for your donations!
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In response to the COVID-19 pandemic affecting the financial well-being of a growing number of apartment residents, the Houston Apartment Association donated $100,000 to the Alliance of Community Assistance Ministries (ACAM), launching their “HAA Renter Assistance Fund.” HAA is also challenging its members, including apartment owners and operators as well as suppliers, to contribute additional funds to the program. Donate to the HAA Renter Assistance Fund today at https://acamweb.org/how-you
can-help/.
Thank you to the following for their donations, which raised more than $40,000 additional funds for the program:
AAA Plumbers 1305 Memorial Apartments - The Axcell Group 7637 Harwin Apartments - The Axcell Group 8330 Carvel Apartments - The Axcell Group Alex Chacon Alexis Apartments Amber Oaks Apartments Amy Seidel Ashford Court Apartments Ashford Pointe Apartments Bella Spring Townhomes - Stellar Equity Management Bellaria Townhomes Beverly S Kusmer Billy Griffin - Camp Construction Services Blue Abby Management Brian Crawford Briar Park Apartments Camp Construction Candis Mohr - AAA Plumbers Casa Blume Apartments Casey Rozell Cathleen Moore CDE Driftwood Apartments Cedar Bluff Apartments Centra Partners, LLC Cesar Lima - AAA Plumbers Christy Rodriguez Claus Nielsen Claye Properties, Inc. Copper Cove Apartments - Ilyn Elias Country Club Place Apartments - The Axcell Group Creative Property Management Co. Crescentwood Apartments - The Conerly Group Crosby Square Apartments - Blue Abby Management Crossings on Lane Apartments - The Conerly Group Cynthia Rose David Hodge - Camp Construction Services Debra Knight Decker Place Apartments - The Axcell Group Delta Court Apartments Delta Fountain Apartments Delta Garden Apartments Delta Heights Apartments Delta Residence Apartments Delta Shore Apartments Denise Nicanor Donovan Village Apartments Edwin Brotamonte Elevated Asset Management LLC Emery Jakab Fountains at Chimney Rock - Stellar Equity Management Gateway Grove Apartments Gemini Garden Apartments Gloria Parrino Grace Prather - Prism Electric Greystar Homes - Stellar Equity Management Integrity Asset Management LLC Ira Gross - Integrity Asset Management Israel Garza III - Maintenance Supply Headquarters James Budroe - Camp Construction Jeff Blevins - Camp Construction Jeff Gray & Elizabeth Castro Gray Jerry Turner John Ridgway - Celtic Property Advisors Kecia Kirksey Kevin Fenn Kevin Goodnight - Redi Carpet Kristin McLaughlin - Mohawk Kylie Schischka - Star Pacific Capital Management La Mariposa Apartments LaMonte Park Townhomes Lamppost Capital Management Lisa Bradley Lisa Hammond M5TA, El Milagro Apartments Madison at Bear Creek Apartments Mark Park - AAA Plumbers Matthew Nunn - Camp Construction Services Michael J Koch - Camp Construction Services Michael Knight Mirabella Apartments on Oak St. - Verve Assets, LLC Multifamily Insiders Nichole Williams On Site Towing Park Place Apartments Queens Lane Apartments and Townhomes Residence at the Heights Riverwalk Apartments Roger Camp Russell Rubin Scott and Deborah Tenney Scott Van Nostrand Shannon Coppin - Camp Construction Services Sharon Fortmeyer – Kalitera Assets Solano Apartments Springs of Lake Jackson Apartments - The Conerly Group Stafford Oaks Apartments - Ilyn Elias Starla Turnbo – SMI Realty Stellar Equity Management Steve & Weeraya Tennison Steve Park - AAA Plumbers Sunshine Apartments - The Conerly Group Tara Oaks Apartments TAZRock Asset Management LLC The Apex Apartments The Axcell Group The Dinerstein Companies The Lenox Apartments The Park at Live Oak Apartments The Reserve at Bellfort Apartments Thomas Manor Apartments Tina Cavaco Trafalgar West Apartments Trailwood Village Apartments - The Axcell Group Triumph Equity Management Union Square Apartments Veritas Equity Management Verve Assets LLC Villas at Braeburn Apartments Villas at The Palms Apartments - The Conerly Group Vista Gardens Apartments & Townhomes WeDoTrash Whisper Oaks Apartments - Blue Abby Management Woodgate Townhomes Zia Living Property Management
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