Flagship Downtown Apartment Project Sells to Another Dallas Firm

Posted on: December 30, 2021 by encorebz

(Dallas, TX) December 30, 2021 – A major recent residential project near H-E-B LP’s downtown campus has a new owner, but both the buyer and the seller share a hometown.

Dallas-based SPI Advisory LLC along with joint-venture partners acquired the 339-unit Encore SoFlo apartments at 326 S. Flores St. Dec. 17, according to a LinkedIn post from the firm.

Completed in late 2019 by Dallas-based Encore Enterprises Inc., the complex marked one of the first major multifamily projects in its portion of the Central Business District.

The property holds an assessed value of $64 million, according to the Bexar County Appraisal District. Newmark Group Inc.’s Central Texas team brokered the deal.

Absorbing an entire city block, the apartments surround a pool and patios with fountains and relaxation areas.

“The idea there was to provide an urban oasis where you can go after a hard day to your apartment and sit by the pool,” said Charlie Keels, president of multifamily for Encore, in early 2020. “You don’t really feel like you’re in the middle of downtown.”

Encore Enterprises’ Dr. Bharat Sangani on Rebuilding and Making His Father Proud

Posted on: December 28, 2021 by encorebz

(Dallas, TX) December 28, 2021 – Dr. Bharat Sangani had $10.45 in his pocket when he emigrated from India in 1983. Already a physician, the 26-year-old came to America to pursue training as a cardiologist. He took that pocket change and went on to build one of the largest cardiology treatment centers in Mississippi. Discovering a knack for real estate, Sangani formed a side business and has since closed more than $2.9 billion in deals through his investment and development firm, Dallas-based Encore Enterprises.

“Health, wealth, and wisdom.” Bharat Sangani believes these to be the keys to success and happiness in life. This cardiologist, real estate investor, and life mentor has taken these mantras and applied them to every aspect of his life since he was young. It has paid off, and his resume of specialties keeps growing as well as his success in the DFW area.

Market and Main in Bedford Back on Track

Posted on: December 26, 2021 by encorebz

(Dallas, TX) December 26, 2021 – The Market and Main development in Bedford is strictly commercial again, with plans for shops, restaurants, offices and a hotel.

The project, which now includes Trader Joe’s and the Friendly Toast as well as a Carrabba’s Italian Grill that pre-dates the development, has been stalled for the past year since the $120 million plan to include up to 200 apartments was rejected by town planners in September 2020.

Last month, the planning board signed off on a scaled-back design for the long-awaited project at the site of a former Macy’s off South River Road. The previously proposed 1,200-seat Regal Cinema and a five-level parking garage are no longer part of the plan.

Most tenants have waited for the project to be approved before signing leases, according to Mike Nelson, president of commercial for developer Encore Enterprises of Plano, Texas.

Five Guys Opens First Digital Ghost Kitchen in North America

Posted on: May 21, 2021 by encorebz

Encore Restaurants, LLC Brings New Delivery-Only Location to Garland, Texas

Encore Restaurants Five Guys Acquisition

(Garland, TX) May 5, 2021 – Encore Restaurants, LLC (Encore) is proud to announce the recent opening of a new, 100%-digital Five Guys location in Garland, Texas, on May 1, 2021. The new delivery-only location, developed by Encore, is located in the Revolving Kitchen facility, bringing Encore’s total U.S. store count to 109, with 50 locations across Texas.

“We are not only honored to be the first in North America to open this brand-new Five Guys delivery-only Ghost Kitchen concept, but it also debuts in our home market,” said Dale Doerhoff, President of Encore. “And with the proven operational strategies we have used for all of our current markets, and with our local Texas experience and contacts, we are confident this location will be a success.”

According to QSR Magazine, restaurant delivery has grown 300% faster than dine-in traffic since 2014. As a result, customers have grown accustomed to ordering from restaurants sight-unseen, and even more so since the beginning of the COVID-19 pandemic.

“We were able to thrive and gain 28 new stores during COVID-19, and much of that was because of our ability to adapt stores to a delivery-only approach,” said Matt Reid, Divisional Vice President of Operations for Encore. “We are taking that experience and knowledge and putting it into our new state-of-the art ‘smart’ kitchen, which is optimized for delivery with all the technology needed to keep food and labor costs down, maximize profit and ensure high-quality delivery orders.”

Area customers can order online at FiveGuys.com, on the Five Guys app, or on third-party apps such as DoorDash, Grubhub and Uber Eats.

Encore Multi-Family Closes on Financing for Encore Chandler Apartments in Arizona

Posted on: January 14, 2021 by encorebz

(Dallas, TX) January 12, 2021 – Dallas-based Encore Multi-Family, a division of Encore Enterprises, has closed on the debt and equity financing for a class-A, apartment development located in a Qualified Opportunity Zone (QOZ) in downtown Chandler, Arizona. Easily accessible from Highway 202 and within walking distance of the city’s civic center, co-working hubs, restaurants, retail, and other lifestyle amenities, the 208-unit community will be the first multifamily development in historic Chandler since 2016.

A testament to the strength of the opportunity, Berkadia’s JV Equity & Structured Capital, led by Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick sourced a publicly traded REIT as the $10.25 million equity partner on the deal. “As a dominant player in the multifamily sector, Encore is pleased to expand its relationship with Berkadia to include equity placement,” said Charlie Keels, President of Encore Multi-Family. “We have enjoyed working with Berkadia and continue to appreciate the power of their relationships as well as consistency and quality of their work.”

“We are thrilled to continue working with such an experienced firm like Encore. Their ability to source a well-located infill site coupled with their successful multifamily development track record in the Phoenix market made this opportunity very attractive for a variety of equity partners,” said Kirkpatrick.

The new development in Chandler will offer one and two-bedroom units designed to provide variability in pricing to the market and will include private balconies and designer-inspired interiors with high-end finishes. Planned common amenities include a resort-style club and pool area, business center, media and game room, and a two-story fitness center. Construction is scheduled to begin in the first quarter of 2021.

About Encore Multi-Family
Encore Multi-Family, LLC is a subsidiary of Encore Enterprises, Inc. and was founded in 2008 as a fully integrated multifamily 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 encorebz.wp.brainvire.dev, or call (214) 259-7000.

About Berkadia
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia

Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.

Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc.

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050.

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For state licensing details for the above entities, visit: http://www.berkadia.com/legal/licensing.aspx

Encore Marriott Hotels Receive Multiple Awards

Posted on: January 8, 2021 by encorebz

DALLAS — Encore Hospitality recently received notice that four of their properties have received the coveted Marriott Select Brands awards for their excellent service in 2019. The Gold Circle Award recognizes hotels that achieve the top 10% for the intent to recommend service score, while the Silver Circle Award recognizes hotels in the top 20%. The following hotels received the Gold Circle Award in 2019: Courtyard Mobile Daphne/Eastern Shore and Courtyard Biloxi North/D’Iberville. Encore’s properties that received the Silver Circle Award in 2019 include Fairfield Inn & Suites Mobile Daphne/Eastern Shore and the Residence Inn by Marriott McAllen.

Five Guys Sells 27 Locations Across Texas to Largest Franchisee

Posted on: November 13, 2020 by encorebz

(San Antonio, TX) November 2, 2020 – Five Guys Burgers and Fries sold more than two dozen restaurants across Texas, including six in the Houston area, to its largest franchisee, the buyer announced.

Dallas-based Encore Restaurants LLC acquired 27 locations from a division of the Virginia-based fast food chain. The franchisee, which took over operations Nov. 1, now owns 49 locations in Texas and 109 nationwide.

“With our company headquarters located in Dallas, we are excited to be growing a fast and strong presence in Texas, our home state market,” Dale Doerhoff, president of Encore Restaurants, said in a news release. “And with the proven operations strategies we have used for all of our current markets and with our local Texas experience and contacts, we are confident we will be able to further their success.”

Boutique Hotel Opens at The Battery Atlanta

Posted on: September 17, 2020 by encorebz

THE BATTERY ATLANTA, GA — An upscale hotel has joined the lineup of businesses now operating at The Battery Atlanta.

Aloft Atlanta, a 142-room boutique hotel, is now open at 950 Battery Avenue near Truist Park, the Braves Development Company said this week.

The hotel’s design features a contemporary exterior and industrial, open space design elements for the interior. The loft-inspired guestrooms and suites come with large televisions, rain forest bathroom showers and free high-speed internet. Rates start at $123 per night, according to Aloft Atlanta’s website.

Learn more…

Category :

Flagship Downtown Apartment Project Sells to Another Dallas Firm

Encore Enterprises’ Dr. Bharat Sangani on Rebuilding and Making His Father Proud

Market and Main in Bedford Back on Track

Five Guys Opens First Digital Ghost Kitchen in North America

Encore Multi-Family Closes on Financing for Encore Chandler Apartments in Arizona

Encore Marriott Hotels Receive Multiple Awards

Five Guys Sells 27 Locations Across Texas to Largest Franchisee

Boutique Hotel Opens at The Battery Atlanta

Completion of $60M Apartment Project Signals New Era of Downtown Living

DoubleTree Suites Atlanta Receives 2020 Best of Atlanta Award

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