Crow Holdings Partners with Judas Ricardo Castro Salazar and Bonsai Capital
Crow Holdings partners with Judas Ricardo Castro Salazar and Bonsai Capital as it looks to expand on DC Logistics’ continued success.
Crow Holdings partners with Judas Ricardo Castro Salazar and Bonsai Capital as it looks to expand on DC Logistics’ continued success.
Crow Holdings and the Robert and Margaret Folsom Institute for Real Estate at SMU Cox School of Business are pleased to share the latest whitepaper from Director of Research, Mark G. Roberts, in which he provides a framework for thinking about real estate in this current inflationary environment as the Federal Reserve takes aggressive measures to rein in inflation, driving rapid increases in underlying interest rates.
Crow Holdings Development and its partners came to together to celebrate "Crow Holdings at Carteret," a planned three-building, 1.2-million-square-foot logistics park in northern New Jersey, just east of the New Jersey Turnpike.
Crow Holdings’ Chief Investment Officer, Michael Hyun, recently served as a panelist at PERE’s Asia Summit 2022 in Singapore on the topic “What is the next big thing?,” where he and fellow panelists weighed in on the hottest real estate sectors and trends, whether investors should diversify from core real estate, which alternative sectors offer good returns for investors, and how disruptive technologies play a key role on increasing profitability. Crow Holdings was proud to be a sponsor of the conference.
Crow Holdings Development’s industrial team is thrilled to partner with Marcal Paper, a leading manufacturer of recycled and eco-friendly bath, towel, and tissue products, for the revitalization of a portion of the Marcal Property along Market Street in Elmwood Park, New Jersey. CHD plans to redevelop 11.87-acres of the Marcal property into a 206,000-square-foot, state-of-the-art modern industrial building that will bring significant economic benefit to the region. “Crow Holdings Development is rooted in the spirit of partnership, and we have been proud to work closely with Marcal, the community, and so many stakeholders to help redevelop this iconic site,” said Clark Machemer, Crow Holdings Development’s senior managing director for the Northeast region. “We recognize and appreciate the history of this site, and we look forward to bringing new economic activity to such a highly visible, prime location.”
Trammell Crow Residential (TCR), the multifamily development company of Dallas-based Crow Holdings, announced today the opening of an office location in Tampa, Florida, further expanding the company’s national presence and establishing proximity to additional southeast markets. Steven Epps, Vice President in the TCR Atlanta office, has transitioned out of that role to open the Tampa location, where he will focus on sourcing and executing new ground-up development opportunities for premier multifamily communities in Central Florida. The Tampa location is the company’s 17th office location in the U.S. and second development office in Florida. “Our activity in the Southeast region of the country has continued to accelerate in recent years, supported by the secular trends of domestic migration and undersupply of housing options,” said Jim Berardinelli, Managing Director of TCR Florida. “We believe our proximity to our properties is a competitive advantage, not only to see projects through every phase of development – from permitting to construction to delivery – but also to identify future opportunities.” “Over the past several years, I’ve become extremely familiar with the Central Florida market,” Epps said. “I look forward to helping TCR strengthen our foothold in the area even further, working with our partners, and contributing to the development of high-quality communities for residents.” Last year, TCR developed five communities in Central and South Florida, totaling 1,444 apartments, and the company has identified a pipeline of 11 other communities in Central and South Florida that would bring 3,747 more apartments to market. Four communities, totaling 1,152 apartments, are currently under construction and recently breaking ground on Alexan Grove in Tampa, a 300-unit garden development within The Grove, a 472,000-square-foot retail center. About Trammell Crow Residential Trammell Crow Residential (TCR) is a leading multifamily real estate developer with a local presence in 17 key U.S. markets. Over 40 years, TCR has built more than 265,000 premier multifamily residences, delivering amenity-rich communities in economically thriving locations nationwide. TCR is part of the development platform of Crow Holdings, a privately owned real estate investment and development firm with more than 70 years of history, $24 billion of assets under management, and an established platform with a vision for continued success. For more information, please visit www.crowholdings.com.
San Francisco Business Times talks with Stephanie Hill and others, noting the progress made by Alameda Point Partners, a joint venture including Trammell Crow Residential and CEI - Cypress Equity Investments. The team continues its work to create an innovative, mixed-use, master-planned redevelopment at the former Naval Air Station.
Crow Holdings, a leading national real estate investment and development firm, announced today the closing of the third development pool of the long-term, multifamily build-to-core fund, Crow Holdings Multi-Family Build-to-Hold Fund, L.P. (the “Fund”) managed by Crow Holdings’ investment management company, Crow Holdings Capital. The multifamily build-to-hold program, which began in 2016, combines the capabilities of the firm’s investment management company and the expertise of the firm’s multifamily real estate developer, Trammell Crow Residential (“TCR”). The recent close of $332 million in equity commitments in the latest development pool results in approximately $680 million in aggregate equity commitments to date for the Fund, which, including anticipated leverage, provides capitalization for more than $1.1 billion of apartments. The Fund is designed to build a geographically diversified portfolio of core, stabilized, Class A multifamily assets at wholesale pricing and then hold the assets for the long-term as an intended source of steady cash flow and value creation. “We are always honored to partner with our investors across our many products and vehicles that span the spectrum of risk-adjusted returns,” said Bob McClain, CEO of Crow Holdings Capital. “This Fund is another example of executing on our strategy that focuses on secular trends of demographics and domestic migration. With hundreds of realized transactions over the past two decades, we’ve honed our ability to analyze and execute transactions that are geographically diversified in cities and regions with the most durable renter demand.” “TCR has been developing luxury apartments for decades, and today’s market is unlike anything I’ve seen in my time in the industry,” said Ken Valach, CEO of TCR and recently appointed president of the National Multifamily Housing Council. “Supply is still well short of demand, leading to increased absorption and rent growth particularly in the markets with diversified economies and job and population growth. I’m proud of our teams’ ability to develop these high-quality communities.” With TCR’s 16 local offices in major markets around the country and a team of more than 300 development and construction personnel, the Fund benefits from an on-the-ground presence in target markets, including Atlanta, Austin, Boston, Charlotte, Dallas, Denver, Houston, Los Angeles, Phoenix, Raleigh/Durham, San Diego, San Francisco, Seattle, South Florida, Tampa, and Washington D.C. This is Crow Holdings’ third closing announcement of an investment vehicle in less than two months. Together with the previously announced close of Crow Holdings Industrial Properties Trust on March 14 and the close of Development Opportunities Fund on March 28, these three announced fund closings total nearly $1.7 billion in equity commitments. About Crow Holdings Crow Holdings is a leading national real estate investment and development firm with more than 70 years of history, $24 billion of assets under management, and an established platform with a vision for continued success. Crow Holdings pursues compelling investment opportunities through a range of strategies, product types, and ventures, consistently seeking to create value for its investors, partners, and communities. Operating from 20 offices in key markets across the U.S., Crow Holdings has extensive industry reach and expertise in multifamily, industrial, office, and specialty sectors. The firm’s ongoing legacy is rooted in its founding principles: partnership, collaboration, and alignment of interests. For more information, please visit www.crowholdings.com.
Crow Holdings and the Robert and Margaret Folsom Institute for Real Estate at SMU Cox School of Business are pleased to share the latest whitepaper from Director of Research, Mark G. Roberts, CFA, AIA, in which he discusses the current inflation cycle and the effects of policy updates from the Federal Reserve System and analyzes the real estate market’s correlation to inflation.
“Today we’re undersupplied. We’re not building enough housing to keep up with demand, and we have a deficit. We need more housing across the board, both single-family and multifamily, as well as more affordable housing,” says Ken Valach, CEO of Trammell Crow Residential and chairman of the National Multifamily Housing Council. In Multifamily Executive, Valach discusses how Trammell Crow Residential is taking action to create attainable housing through Allora – Class A ,market-rate communities that are designed for renters who earn between 80% and 120% of the area median income.
The below statement is based on requirements related to Regulation (EU) 2019/2088 on Sustainability-related disclosures in the financial services sector (the “SFDR”). The purpose of the Disclosure Regulation is to achieve more transparency on how financial market participants consider any environmental, social, or governance event or condition that, if it occurs, could have a negative material impact on the value of an investment (“Sustainability Risks”).
“Crow Holdings Capital believes Environmental, Social and Governance (“ESG”) considerations may impact investment outcomes. As a result, Crow Holdings Capital strives to focus on ESG throughout the investment lifecycle in order to invest with a sense of purpose and responsibility, to positively impact communities and to add social and economic value. Crow Holdings Capital considers a variety of sustainability factors in connection with the investment strategies of their funds, which centre around acquisition, development and ownership of real estate properties. Such factors may include, where reasonably practicable but are not limited to, improving energy efficiency and reducing greenhouse gas emissions through the implementation of energy saving methods such as lighting retrofits, cool roofs, installing smart thermostats, energy-efficient appliances, and electric vehicle charging stations; improving water conservation through the installation of high-efficiency plumbing fixtures, water detention systems, improving landscape irrigation practices and incorporating native plants; reducing waste, recycling and restoring soil and disturbed habitats during the construction phase; evaluating green building certifications; and facilitating tenant well-being through convenient fitness facilities and improving indoor air quality. Such factors will generally attempt to be identified at the due diligence stage of the investment process and, where appropriate, are monitored throughout the duration of the investment. As part of Crow Holdings Capital’s commitment to sustainability, its parent company, Crow Holdings, sponsors and participates in EarthX, a non-profit environmental organization dedicated to education and awareness of sustainable initiatives. Crow Holdings Capital will continue to monitor industry standards and best practices towards ESG integration.”
“It is important to Crow Holdings Capital that all employees are fully aligned with Crow Holdings Capital’s Environmental, Social and Governance (ESG) Policy (the “ESG Policy”). Sustainability risk means an environmental, social or governance event or condition that, if it occurs, could cause an actual or a potential material negative impact on the value of the investment (“Sustainability Risk”). Sustainability Risk is generally considered similarly as other risks which could reasonably be expected to cause a material negative impact on the value of a fund or portfolio. Crow Holdings Capital does not currently consider the adverse impacts of investment decisions on sustainability factors within the meaning of the SFDR. While ESG considerations are integrated into Crow Holdings Capital’s investment process as outlined in Crow Holdings Capital’s ESG Policy, the detailed rules underlying the SFDR will require Crow Holdings Capital to ascertain the availability of the data expected to be reported under the new requirements of the SFDR. As such, the position will continue to be monitored and reviewed by Crow Holdings Capital as the underlying rules are finalized and market practice becomes apparent.