Category : Encore Multi-Family

Encore Multifamily Secures $48.7 Million HUD Loan for Fort Myers Development

Encore Multifamily Secures a $48.7 Million HUD Loan for Fort Myers Development

240-Unit class-A multifamily apartment community broke ground Q4 2024, slated to deliver late 2026

(FORT MYERS, Fla.) Jan. 23, 2025 – Encore Multifamily, a division of Dallas-based Encore Enterprises, secured a $48,727,600 fixed-rate HUD Section 221(d)(4) loan for its Encore Daniels Falls development, a class-A multifamily ground-up apartment community located in Fort Myers, Fla. The 240-unit, 6.73-acre project broke ground Dec. 16, 2024, and is projected to deliver 224,050 square feet of rentable space in a strategic location with robust demand by Q3 2026. Between 2021 and 2022 alone, the Fort Myers population grew 4.73%, with its median household income increasing by 11.1%.

“Successfully navigating a challenging lending environment to secure favorable rates during a volatile period is no small feat, and a true testament to the levels of mastery within our team,” said Charlie Keels, president of Encore Multifamily. “By aligning the delivery of Encore Daniels Falls with Fort Myers’ evolving supply and demand dynamics, the project is positioned to meet the needs of the community at just the right time.”

Encore Daniels Falls will offer studio, one-, two- and three-bedroom units in a modern, five-story urban-style building. Luxury amenities will include a clubhouse, fitness center, business center, pool, firepit, dog wash, dog park, outdoor lounging and a 24-hour package room. Its premium Daniels Parkway location is 1.5 miles from I-75 and 4.5 miles from South Florida International Airport.

About Encore Multifamily
Established in 2008, Encore Multi-Family, LLC (Encore Multifamily), a wholly owned subsidiary of Dallas-based Encore Enterprises, Inc., is a full-scale multifamily developer focused on both ground-up developments and value-add acquisitions in mixed-use and urban infill communities. Since its inception, Encore Multifamily has transacted 49 deals representing approximately $2 billion in assets. Its dedicated team of sector experts has overseen the acquisition, repositioning and development of more than 10,000 multifamily units.

Encore Enterprises Raises $72 Million USD in Global Funding

Encore Enterprises Raises $72 Million USD in Global Funding

Encore Opportunities, Ltd. public bond issuance on TASE now totals NIS 455 million raised-to-date

DALLAS – July 8, 2024 – Encore Enterprises, Inc. (Encore) today announced it raised an oversubscribed $72 million within 60 days on the Tel Aviv Stock Exchange (TASE) on issued debentures worth NIS 265 million backed by Encore Enterprises subsidiaries. To date, Encore has raised NIS 455 million through Encore Opportunities, Ltd. (EOL) which currently comprises 50 holdings, including dental practices and free-standing emergency rooms that were contributed in the form of corporate bonds. The funds raised will be used to pay off existing loans totaling about $63 million, and any remaining funds will be utilized to acquire new dental practices and run the current operations. With the existing loans paid down, the bonds will be considered the senior lender.

Introduced in January 2022, EOL was established to collateralize Encore’s operating companies to grow ownership stake while providing consistent cash flow to investors. It is one of the first U.S. operating companies offered on the TASE and has remained oversubscribed. EOL follows the success of Encore Properties, Ltd. (EPL), also offered on the TASE, which was established in 2017 to collateralize debt from Encore’s real estate holdings and today stands at NIS 918 million in total funds raised.

“Collateralizing our operating companies provides us with the necessary cashflow to grow the portfolio and enables us to have longer holds while also satisfying the needs of investors,” said Bharat Sangani, M.D., Encore Enterprises chairman and CEO. “Long-term holds also safeguard against market contractions as we’ve witnessed with our successful real estate-backed bonds.”

Encore’s dental subsidiary aims to improve the business of dentistry and access to dentistry by providing the highest value non-clinical dental services to dental practices nationally, with management services that let dentists focus on being the best clinician, maximizing their wealth creation for retirement. It currently operates 37 practices across 13 states, with affiliate practices showing an average of 52% growth in EBIDA after the first year of affiliation. Management services include operations management; revenue cycle management; clinical support; procurement; human resources management; accounting and finance; sales and marketing; legal, regulatory and risk management; and IT and systems support.

About Encore Enterprises, Inc.
Founded in 1999, Encore Enterprises, Inc. (Encore) is a vertically integrated, diversified investment firm based in Dallas. Since inception, Encore has completed over 150 commercial real estate transactions valued at $3.7 billion, with $1.6 billion current AUM across 32 states. Focusing on opportunistic and value-add strategies in non-gateway markets throughout the U.S., Encore develops, acquires and manages mixed-use retail centers, multifamily apartment developments, limited and full-service hotels, commercial office buildings and Veterans’ administration medical office centers. Encore also acquires operating companies in the medical, dental and restaurant industries as part of its sustainable investment model. Encore boasts one of the best 20-year track records in the industry, underscoring the firm’s focus on operational stability, prioritization of capital preservation and strength across market cycles. Encore investment offerings are available through Ignite Investments, a wholly-owned subsidiary and the exclusive capital-raising partner for Encore Enterprises. To learn more, visit https://encorebz.wp.brainvire.dev.

Encore Enterprises Closes $108.3 Million in Q42023 Multifamily Sales

Encore Enterprises Closes $108.3 Million in Q42023 Multifamily Sales

Sale of Encore Rise in Conroe, Texas and Encore Metro at Millenia in Orlando, Fla. tops $1.2 billion in total realized transactions for Encore Multifamily

DALLAS – Feb. 7, 2024 – Dallas-based developer Encore Enterprises’ multifamily subsidiary closed out a strong Q42023 with $108.3 million in sales for two properties, Encore Rise, a 241,909 square-foot, 256-unit Class A garden style apartment community set on 12.82 acres in Conroe, Texas and Encore Metro at Millenia, a 245,378 square-foot, 215-unit, three-story Class A apartment community in Orlando, Fla. These transactions push Encore Multifamily past $1.2 billion in realized sales since its inception in 2008.

“Despite decreased deal activity across the Multifamily sector, the successful sales of Encore Rise and Encore Metro at Millenia underscore the enduring appeal of meticulously developed properties in premium locations,” said Charlie Keels, president of Encore Multifamily. “Our elite team employs a disciplined, research-driven approach to vetting each potential development before committing capital, ensuring that our properties are resilient and well positioned to thrive across market cycles.”

Encore Rise ApartmentsEncore Rise
Situated 40 miles north of Houston in Conroe, Texas, Encore Rise was completed in 2022, and is located at 800 N Farm to Market 3083 W. The apartment community was 95% leased at sale and features four three-story residential buildings with one, two and three-bedroom units ranging from 619-1,323 square feet. The well-appointed residences feature contemporary interiors, wood-style plank flooring, gourmet kitchens with granite countertops and stainless steel appliances, full-sized washer and dryers and faux wood blinds. Onsite amenities include a clubhouse, fitness center, business center, resort-style pool, dog park and a variety of walking paths. Conroe is the fastest-growing city in Texas and is bordered by 22,000-acre Lake Conroe, Sam Houston National Forest and Goodrich Jones State Forest. Beyond being an outdoor utopia, Conroe was designated a “Music Friendly Community” by the State of Texas and has a vibrant downtown with shopping, theaters and breweries.

Encore Metro at Millenia ApartmentsEncore Metro at Millenia
Completed in 2022 and located at 2437 Americana Blvd., in Orlando’s thriving Park Central area five miles outside downtown, Encore Metro at Millenia was 97% leased at sale. The three-story naturesque property comprises well-appointed studios, one-bedroom and two-bedroom units, ranging from 613-1,177 square feet. The modern residences feature premium stainless steel appliances, wood-style flooring and screened-in porches. Property amenities include a clubhouse, business hub, cyber cafe, pool, barbeque area and access to nearby jogging trails. A 10-mile drive from Orlando International Airport, the property is within walking distance to three shopping centers and is within six miles of five parks, Clear Lake Park, Cypress Grove Park, Lorna Doone Park, Delaney Park and Fort Gatlin Recreation Complex. Three Valencia Community College campuses and Everest University also are within a 10-mile commute. 

About Encore Enterprises, Inc.
Founded in 1999, Encore Enterprises, Inc. (Encore) is a vertically integrated, diversified investment firm based in Dallas. Since inception, Encore has completed over 150 commercial real estate transactions valued at $3.7 billion, with $1.6 billion current AUM across 32 states. Focusing on opportunistic and value-add strategies in non-gateway markets throughout the U.S., Encore develops, acquires and manages mixed-use retail centers, multifamily apartment developments, limited and full-service hotels, commercial office buildings and Veterans’ administration medical office centers. Encore also acquires operating companies in the medical, dental and restaurant industries as part of its sustainable investment model. Encore boasts one of the best 20-year track records in the industry, underscoring the firm’s focus on operational stability, prioritization of capital preservation and strength across market cycles. Encore investment offerings are available through Ignite Investments, a wholly-owned subsidiary and the exclusive capital-raising partner for Encore Enterprises. To learn more, visit https://encorebz.wp.brainvire.dev.

About Encore Multifamily
Established in 2008, Encore Multi-Family, LLC (Encore Multifamily), a wholly-owned subsidiary of Encore Enterprises, Inc., is a fullscale multifamily developer focused on both ground-up developments and value-add acquisitions in mixed-use and urban infill communities. Since its inception, Encore Multifamily has transacted on 49 deals representing approximately $2 billion in assets. Its dedicated team of sector experts has overseen the acquisition, repositioning and development of more than 10,000 multifamily units.

Encore Enterprises Features First Section of Panther Island Riverwalk

Encore Panther Island Fort Worth, Texas

(Fort Worth, TX) February 03, 2022 – Encore Panther Island is opening as the first multifamily development on Panther Island. The community comes from Encore Multi-Family LLC, a subsidiary of Dallas-based Encore Enterprises Inc.

“We are excited to develop the first multifamily community on Panther Island,” said Charlie Keels, president of Encore Multi-Family. “Our five-story urban development with luxurious amenities, beautiful canal splitting the property and garage parking will be a one-of-a-kind apartment community that residents will want to live at and be a part of.”

In conjunction with the Encore Panther Island opening, the public has access to the first completed section of Panther Island’s signature canal. The 225-foot-long segment provides the public with a pedestrian-friendly setting reminiscent of the San Antonio Riverwalk and replaces the costly curb-and-gutter underground system typically built by cities for stormwater.

Read More

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

Encore Multi-Family Chandler Arizona Apartments

(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.

© 2020 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.

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.

Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions.

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

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

Encore SoFLo Lobby San Antonio

A massive investment that has ushered in new multifamily developments on South Flores in downtown San Antonio is complete.

Dallas-based Encore Enterprises Inc. has completed Encore SoFlo, a 339-unit residential development near Southtown and H-E-B LP headquarters. It is one of the first major multifamily projects in its portion of the Central Business District with several surrounding projects including Heritage Plaza, a 327-unit project by Argyle Residential directly across from the property on Dwyer Avenue.

Learn more…

Encore Memorial Receives Kingsley Excellence Award

We are proud to announce that our multifamily property, Encore Memorial, has been announced as one of the recipients of the 2019 Kingsley Excellence Award. This award is presented to communities that exceed the industry benchmark in resident satisfaction and is completed by the largest and most comprehensive performance-benchmarking database in the real estate industry. Encore Memorial is managed by Greystar and was ranked #5 for resident satisfaction out of their 1,700+ communities.

Learn more…

$55 Million Panther Island Community Taking Shape in Fort Worth

Panther Island Apartments, Fort Worth

For years, it seemed as if the Panther Island project was going nowhere.

While land was being purchased and buildings demolished to make way for the $910 million flood control and economic development project, sometimes it was hard to imagine if it would ever be built — much less what it might look like. That won’t be a problem in 2018.

Read More

New 300-Unit Riverwalk Apartment Community Announced for Panther Island

Encore Panther Island will be a thoughtfully designed luxury apartment community with direct access to the first segment of Riverwalk on the island.

(Fort Worth, Texas) October 20, 2016 – Encore Multi-Family, LLC, a subsidiary of the Dallas-based Encore Enterprises, Inc., is officially under contract to break ground on the first private development on Panther Island. The thoughtfully designed 233,198 square-foot multi-family community will feature creative solutions to connect the streetscape to the Riverwalk environment planned for the district. Residents will be able to enjoy exceptional amenities including waterfront balconies, an infinity pool with cascading waterfalls, a state-of-the-art fitness facility and a top floor lounge that will feature the most dynamic views of downtown. Located at the intersection of 4th Street and North Main Street, residents at the 300-unit community will be walking distance to Panther Island Brewing, Coyote Drive-In, and Panther Island Pavilion.

The community will be situated along the first segment of a series of interconnected canals that will wind throughout the island. This portion of the canal has been designed to accommodate a stop for the water taxis that are expected to serve the island. In addition, it will be accessible for those wanting to launch kayaks, canoes, and stand up paddle boards.

“We carefully studied the Riverwalk in San Antonio and worked closely with the Trinity River Vision Authority Design Committee to combine the organic feel beloved in San Antonino with Fort Worth’s distinct culture to create a one-of-a-kind living experience,” said Bradley Miller, President of Encore Multi-Family. “We have designed community spaces along the Riverwalk to give our residents a true outdoor living room experience that will promote the active outdoor lifestyle that’s central to Panther Island.”

“As the first development within the district we have carefully designed our project to fully integrate into this special high-density mixed-use district. We are dedicated to creating a special pedestrian-focused experience that allows our residents to walk out their front door and walk along the canal to enjoy the boardwalk along Fort Worth’s future town lake,” said Bharat Sangani, Chairman of Encore Enterprises.

The design of the buildings celebrates Fort Worth’s rich connection to the railroad and takes cues from the historic railroad bridge trusses located throughout the city. The iron features throughout the design will be carefully balanced with extensive landscaping featuring a multitude of trees and native plantings.

This community will be the first development to break ground within the Panther Island District – a vibrant waterfront mixed-use development located in the heart of Fort Worth. The more than 10,000 residences planned and 12 miles of active urban waterfront – including flowing canals and corridors that create uniquely-walkable spaces – will give rise to new businesses, trendy restaurants, and a booming nightlife.

Construction for Encore Panther Island is slated to begin Summer 2017. Encore Multi-Family anticipates a grand opening date of Summer 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 turn key developments. For more information about Encore Multi-Family, LLC, visit encore.bz or call (214) 259-7000.

Load More