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Encore Restaurants Opens Newest Five Guys in Fresno, CA

Posted on: May 22, 2017 by adma1

Five Guys, Fresno

(Fresno, CA) February 1, 2016 – Encore Restaurants, LLC, a subsidiary of the Dallas-based Encore Enterprises, Inc., opened its newest Five Guys Burgers and Fries restaurant today. The restaurant located at 6623 N. Riverside Drive, Suite 105 in Fresno, CA and is the ninth Five Guys restaurant to be owned and managed by Encore Restaurants, LLC.

“We are proud to open yet another Five Guys in Fresno, California,” said Chairman of Encore Enterprises, Inc. Dr. Bharat Sangani. “We are proud to be a part of such an award-winning franchise.”

Open every day from 11 a.m. to 10 p.m. Five Guys serves award-winning burgers, hot dogs, and fries that are fresh, never frozen, and customizable for any taste with over 250,000 burger options to be ordered. Five Guy’s has been ZAGAT survey rated every year since 2001 and has been voted the Washingtonian Magazine’s “Readers’ Choice” #1 Burger every year since 1999.

“All of our openings have been a success and we’re excited to share this newest restaurant with the people of Fresno. We appreciate all the support and excitement the citizens of Fresno have shown,” said Dale Doerhoff, president of Encore Restaurants. “In addition to this newest location, the restaurants division of Encore plans to continue to grow the Five Guys brand across the state of California with new restaurants coming soon.”

 

About Encore Enterprises, Inc. – Encore Enterprises, Inc. is a privately owned national real estate company founded in 1999 with corporate headquarters in Dallas, Texas. Encore develops, acquires, and manages hotels, multi-family communities, retail shopping centers, commercial offices, and public-private mixed use developments.

About Encore Restaurants, LLC – Encore Restaurants, LLC. develops, owns and manages specific territories of various Full Dining, Fast Casual, and Quick Serve concepts across the United States. For information regarding future development locations, contact Stacey Barber at 228-547-0293.

Plano’s Shops at Willow Bend to Add New Seven-Story Office Building

Posted on: May 22, 2017 by adma1
Office Expansion at Willow Bend

A Dallas-based development firm — Encore Enterprises — plans to build a new office building next to The Shops at Willow Bend in Plano in hopes of meeting some of the demand for high-quality office space in the North Texas city.

The seven-story, 200,000-square-foot Class A office tower will sit adjacent to the mall’s food court and will be integrated into Dillard’s parking garage. The building could accommodate up to 800 employees.

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New 253-Unit Class A Apartment Community Under Construction on Swiss Avenue

Posted on: January 19, 2017 by adma1

Encore Swiss Avenue, Apartment Investing Dallas

Encore Swiss Ave. will be a thoughtfully designed luxury apartment community in Dallas’s near east side close to the Baylor University Medical Center at Dallas.

(Dallas, Texas) January 19, 2017 – Encore Multi-Family, LLC, a subsidiary of the Dallas-based Encore Enterprises, Inc., has officially broken ground on Encore Swiss Avenue on the corner of Swiss Avenue and North Peak Street near East Dallas. The thoughtfully designed 253-unit and 204,752 square-foot multi-family community will feature a contemporary design with a nod to the historical nature of the neighborhood.

“Demand in the area has outpaced supply and current demand drivers continue to be strong,” said Bharat Sangani, Chairman of Encore Enterprises. “We are seeing millennials continue to rent for longer than previous generations and anticipate that these demand drivers will only get stronger in the future.”

The leasing office and front door will front Swiss Avenue providing a pedestrian connection to the enhanced streetscape and landscape parkway. The Residents will enjoy a luxurious clubroom for entertaining and business center both directly linked to a formally landscaped pool courtyard with fountains, raised spa, casual seating and grill stations. Other amenities include a state-of-the-art fitness facility and 24-hour package concierge.

Encore Swiss Avenue will offer a variety of one and two-bedroom units designed to provide variability in pricing to the market. All units are professionally designed and will have the latest finishes including stainless steel appliances, energy efficient LED lighting fixtures, and individual full size washer/dryers.

“We are excited about the opportunity to develop a community in the historic Swiss Avenue corridor in near East Dallas, just two miles from the CBD,” said Brad Miller, President of Encore Multi-Family. “This project is culmination of two years of careful planning and design.”

Construction for Encore Swiss Avenue is currently under way first units available for occupancy the First Quarter 2018.

About Encore Multi-Family, LLC     
Encore Multi-Family, LLC is a subsidiary of Encore Enterprises, Inc. and was founded in 2008 as a fully integrated multi-family developer, owner and operator. The company is involved in all aspects of multifamily development projects and acquisitions including ground-up developments, joint ventures and mixed-use turnkey developments. For more information about Encore Multi-Family, LLC, visit encore.bz or call (214) 259-7000.

Case Study | Encore Highpointe Park

Posted on: March 17, 2016 by adma1

Case Study | Encore Highpointe Park

$40.8 MM Multi-Family Development – Denver, Co

Asset Class A suburban development, 3-4-story, walk-up, and tuck-undergarages
Acreage / Units 2.9 acres, 220 units
Square Footage Total: 209,093, average unit size: 950
Land Acquisition / Disposition December 2011 /December 2013
Total Capitalization $26.01 mm, $8.5 mm invested equity
Financing / LTV Conventional / 67%
Total Exit Value $40.75 mm, $12.77 mm equity proceeds
  • Land contracted for in April, 2010 prior to construction boom and run-up in land values; $9,000/unit vs. $22,000/unit in 2016
  • Construction costs in 2012/2013 were well below current costs due to early stage of recovery from 2008-2010 recession; built to $100/SF vs. $167/SF in 2016
  • High drive-by visibility just off I-25 drove qualified traffic
  • First new units in North Denver suburb made Encore the only new product in the sub-market

Financial Highlights

Contact Us
Encore Enterprises, Inc.
5005 LBJ Freeway
Suite 1200
Dallas, TX 75009
<a href=”tel:2142597000″214-259-7000

Encore 6162 Case Study

Posted on: March 17, 2016 by adma1

$42.3 MM Multi-Family Development – Dallas, TX

Encore 6162 Multifamily Community in Dallas, Texas

In November 2012, Encore began development on a class-A urban infill development minutes away from Uptown, one of most vibrant neighborhood in Dallas for millennials. The project was a 288-unit, four-story wrap design with 215,000 total square feet. Encore possessed a land acquisition advantage due to strong relationships with local land brokers, which provided the company with a “first look” before other developers. Construction costs were locked-in prior to significant escalation in market pricing; the property was built at $102/SF vs. 2016 construction pricing for a similar product at ~$145/SF. The marketing and leasing strategy was driven by the development of a sleek, new, modern building that would attract millennials, and within two and a half years, the project sold for over a 2x equity multiple.

Hilton College Station Case Study

Posted on: March 17, 2016 by adma1

$46 mm Hospitality Acquisition & Sale – College Station, TX

Apartments for sale Hilton College Station

Hilton College Station was acquired by Encore in September 2010. It is a full-service hotel, built in 1985, with 303 rooms and over 25,000 square feet of meeting space. Encore identified the asset from an institutional owner in an off-market transaction at an attractive entry price (approximately 50% to 55% of replacement cost). The company recognized strong demand drivers such as proximity to Texas A&M University (3rd largest public university in the United States) and limited competition, being the only convention center hotel in the city. Encore improved operations through the implementation of new policies and procedures and by integrating the Hilton onto Encore’s proprietary IT platform. The company held Hilton College Station for four years, infused over $4 million in capital in value-add renovations, and exited north of a 35% IRR.

Intech 12 Case Study

Posted on: March 17, 2016 by adma1

$8.4 MM Office Acquisition & Sale – Indianapolis, IN

Intech 12 is representative of Encore’s value-add strategy in the office sector. The asset is institutional quality, well-located, and a class A office building with convenient access to the airport and commercial business district. Situated in Indianapolis, IN, the area consistently saw a healthy demand for space among large, high-credit tenants due to the region ranking high in most logistics categories (over 75% of the U.S. and Canadian population can be reached within a one-day truck drive). Once acquired, Encore’s strategy was to re-position the building for a single tenant user. Through its relationships in the local brokerage community, the company was aware of several large tenants intending to relocate to Indianapolis within the next 12 months. Encore approached these potential tenants, and during negotiations of a long-term lease with Lowe’s Companies, Encore eventually negotiated the sale of the building to Lowe’s at a substantial profit.

Lakeview Village Case Study

Posted on: March 17, 2016 by adma1

$24.0 mm Mixed-Use Retail Development – D’Iberville, MS

Lakeview Village Shopping Center of D'Iberville, Mississippi
Academy
Chili's
Courtyard by Marriott
CVS Pharmacy
Grand Theatre
IHOP
Lowe's
Outback Steakhouse
Tire Kingdom
Walmart
Whataburger

Lakeview Village was developed over several phases and was completed in YEAR with well over 640,000 square feet of retail space occupied by strong national tenants. Located at the intersection of I-10 and I-110, Lakeview Village proved to be a high-traffic location with robust local demographics. The retail center lies four miles from the main entrance of Keesler Air Force Base, which is a significant driver of economic activity in the Gulf Coast, as well as the largest employer in the region and the training base for 40,000 military and medical support staff annually. In addition, the center is only five miles from Beau Rivage, a beachfront MGM Mirage Resort in Biloxi, and is in close proximity to several other Biloxi casinos. In 2014, a new five-lane road expansion was completed to facilitate transportation in and throughout the development. Encore’s close relationship with the city of D’Iberville has helped to drive the growth of Lakeview Village, attract high-quality tenants, increase traffic, and maintain a consistently high demand. While the company still owns a minority interest in a few phases, Encore exited this development project north of a 50% IRR with an average hold period of under 2 years.

Case Study | Multi-Family Portfolio Sale

Posted on: March 17, 2016 by adma1

Case Study | Multi-Family Portfolio Sale

$145 mm Sale of 1,392 Unit HUD Financed Portfolio – Southeastern United States

  • In 2010, amid the market downturn, Encore Multi-Family recognized the attractiveness of HUD financing to fund and develop multi-family assets across the Southeastern United States
  • Over the next few years, the Company developed seven Class A, HUD financed properties across Texas, Oklahoma, and Louisiana
  • Encore’s in-house asset management team conducted successful lease-up of all assets and achieved between 94% to 96% physical occupancy across all properties by April 2014
  • In the same year, Encore recapitalized the portfolio through an institutional hedge fund partner, Och-Ziff Real Estate, representing a state pension fund
  • Existing investors exited the portfolio and benefitted from significant capital appreciation while Och-Ziff was able to rollover the HUD financing at an attractive, long-term fixed interest rate
  • Encore retains a minority interest in the portfolio and continues to actively manage the assets

Note: Each of the properties in the portfolio were acquired at different points in time for an average hold period of 3.7 years, therefore Encore does not disclose a specific time period for IRR calculations when presenting portfolio case studies

(1) Loan-to-value calculated by dividing total debt by total capitalization

Financial Highlights

Contact Us
Encore Enterprises, Inc.
5005 LBJ Freeway
Suite 1200
Dallas, TX 75009
<a href=”tel:2142597000″214-259-7000

Case Study | Hotel Portfolio Sale

Posted on: March 17, 2016 by adma1

Case Study | Hotel Portfolio Sale

$393 mm Acquisition & Sale of 35 Hotel Portfolio  – 13 States

Transaction Overview

  • Encore partnered with an institutional investor to purchase 35 hotels, focused on Marriott and Hilton brands
  • The institutional investor committed $85 mm in a programmatic joint venture to further expand Encore’s hospitality portfolio
  • Over a 24 month period from 2005 to 2007, Encore utilized $55 mm to re-capitalize and acquire a total of 35 hotels (3,840 guest rooms) in 13 states
  • 33 hotels were affiliated with either Marriott or Hilton, two of the most desired industry brands
  • After evaluating asset and capital market conditions in 2007, Encore decided to cease new purchases and package/sell the portfolio for a total of $393 mm
  • A national Institutional buyer bought 29 of the hotels for $315 mm, while six hotels were sold separately to other buyers for $78 mm

<h3Investment Thesis

  • Opportunity to expand the existing hotel portfolio into attractive markets
  • Geographically diversified with desirably tiered select-service hotels that demonstrated strong and increasing cash flow, offering lower risk/higher yield prospects
  • Homogenous collection of select-service and extended-stay assets with tiered brand stratification
  • Tiered brand stratification allowed Encore the ability to take advantage of high profit margins and consistent demand associated with select-service properties

The Encore Edge

Value Add Approach
  • Nine of the hotels received ~$5,000 per room of capital improvements in 2004, with five of those hotels receiving an additional $5,300 per room of renovations in 2005 and 2006
  • The remaining hotels were renovated in 2006 at $4,800 per key
Margin Improvement Strategy
  • Focus on refining operating standards, policy and procedure implementation, and regional management stewardship while integrating technological and operating systems
Operational Excellence
  • NOI increased by over 35% in 2006 despite disruptions in renovation that occurred at 29 of the hotels throughout the year
Impeccable Market Timing
  • After evaluating asset and capital market conditions in 2007, Encore decided to sell the hotel portfolio immediately before the economic downturn resulting in $183 mm profit and a 3.6x equity multiple

Note: Each of the properties in the portfolio were acquired at different points in time for an average hold period of 3.7 years, therefore Encore does not disclose a specific time period for IRR calculations when presenting portfolio case studies

(1) Loan-to-value calculated by dividing total debt by total capitalization

Financial Highlights

Contact Us
Encore Enterprises, Inc.
5005 LBJ Freeway
Suite 1200
Dallas, TX 75009
<a href=”tel:2142597000″214-259-7000

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