News

HighBridge Properties In The News

 

Acquisitions

HighBridge Embarks on Student Housing Project Near UC Davis

Source: Multi-Housing News
Date: February 12th, 2016
"Real estate investment and development firm HighBridge Properties is bringing more rental housing to students near the University of California, Davis, with its acquisition of a 5-acre infill site in Davis, Calif."
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Highbridge Properties Acquires Infill Site for Student Housing Development

Source: Student Housing Business Journal
Date: February 10th, 2016
"HighBridge Properties has acquired a five-acre infill site in Davis that it intends to develop as rental housing for students at the nearby University of California, Davis.

The site consists of 11 contiguous parcels along Olive Drive near the intersection of Richards Boulevard. Preliminary plans call for the construction of a mix of three- and five-story residential buildings with 120 to 140 student purpose-built rental units. The property is located within walking distance of both the UC Davis campus and the downtown business district. Sunny Gill of Habitat Investment Advisors brokered the transaction."
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California Apartments Being Renovated to Attract Students

Source: Multi-Housing News Online
Date: June 20th, 2012
"Davis, Calif.—Work is under way on the renovation of the Grove, an 80-unit apartment property in Davis. HighBridge Properties, on behalf of itself and a private investor client, acquired the apartment complex last November. It was formerly known as Brush Creek Apartments. The Grove is about two miles northwest of the University of California-Davis campus. It consists of 10 one- and two-story rental apartment buildings with a total of 36 one-bedroom units; 36 two-bedroom units; and eight three-bedroom units. All of the units feature either ground-floor patios or second-story balconies. The renovation and repositioning is slated for completion in August, in time to accommodate tenant move-ins before the start of UC-Davis’s fall quarter in September. HighBridge is directing the day-to-day activities during the renovation, working with its on-site property manager, FPI Management, which oversees 60,000 apartment units.Working while the property remained largely occupied..."
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Renovations Well Underway on UC Davis Off-Campus Housing Property

Source: RENTV
Date: June 12th, 2012
"The Grove, an 80-unit rental apartment community in the NoCal college town of Davis, is more than halfway through an eight-month renovation that is designed to reposition the property and enhance its appeal to student renters. The property, which was built in 1981 and was formerly known as Brush Creek Apartments, was acquired in November 2011 by HighBridge Properties on behalf of itself and a private investor client."
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Davis Apartment Complex Gets Refresh, New Name

Source: Sacramento Business Journal
Date: June 11th, 2012
"The Grove, an 80-unit apartment complex two miles northwest of University of California Davis, is halfway through an eight-month renovation. The former Brush Creek Apartments complex, built in 1981, was acquired in November by HighBridge Properties in San Francisco."
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HighBridge Acquires Davis Apartment Complex

Source: The Davis Enterprise
Date: December 11th, 2011
San Francisco-based HighBridge Properties, a real estate advisory and brokerage firm active on the West Coast and in the Southeast, announced that it has partnered with a client to acquire Brush Creek Apartments, an 80-unit, student-oriented residential community in Davis, for $8.2 million. Completed in 1981, Brush Creek consists of 10 one- and two-story rental apartment buildings with a total of 36 one-bedroom units, 36 two-bedroom units and eight three-bedroom units."
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Advisory Services

Camden Retail Sells for $1.1M

Source: CoStar.com
Date: July 5th, 2011
"Grimm Family Investments LLC purchased the retail building at 1047-1049 West Dekalb Street in Camden, SC from A.L. Saad and Companies, Inc. for $1.1 million, or about $167 per square foot. The 6,600-square-foot building was completed in 2009 and is occupied by O’Reilly Auto Parts on a 20-year net lease. The sale was part of a 1031-exchange. Paul Gradeff of Highbridge Properties LLC represented the seller, while Mike Eyer and Julius Tabert of Sperry Van Ness/The Group Commercial represented the buyer."
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Schafer Park Sells for $8.75M

Source: CoStar.com
Date: February 8th, 2005
"Schafer Park Investors LP purchased 400-60 W. Harder Road in Hayward for $8.75 million, or $227 per square foot at a 7.14% cap rate."
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Development

Davis gets new proposal for 130 apartments near downtown

Source: Sacramento Business Journal
Date: July 15th, 2016
A tight rental market even by the constricted standards lately in the region is driving more multifamily-housing proposals in Davis. The latest is a 130-unit project east of campus and capable of housing more than 700 residents. Called Lincoln40, the complex would be on 11 parcels northeast of where East Olive Drive meets Hickory Lane. The site is about a mile from the eastern edge of University of California Davis. According to an agenda item before the Davis City Council next Tuesday, Lincoln40 would have apartments in three-, four- and five-story buildings, totaling about 55,000 square feet. The city council is set to vote on a budget adjustment for environmental review services for the project. Developer High Bridge Properties would reimburse the city for those costs.
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City review of Lincoln40 project to begin soon

Source: The Davis enterprise
Date: July 6th, 2016
"The team behind the proposed Lincoln40 apartment complex delivered their project application to the city in mid-June, showing the latest specifications on the 130-unit complex and a visual of how it could fit into East Olive Drive.

HighBridge Properties wants to build a mix of two- to five-bedroom fully furnished student apartments on the 6-acre property. The majority would be four-bedroom, four-bathroom units. There would be a total of 708 beds throughout the complex but only 239 parking spaces. However, a bike parking spot would be provided for each resident as well as an on-site bike repair shop."
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Student apartments proposed for Olive Drive

Source: The Davis enterprise
Date: February 14th, 2016
"Just outside of downtown, bustling Richards Boulevard gives way to a starkly different scene along the south side of East Olive Drive. Past the Davis Motor Estates and Slatter’s Court, calf-high green grass, dirt roads and knotted cork oak trees fill several open parcels, flanked by older homes and dilapidated cottages sinking into the soil.

Amid shrinking apartment vacancy rates, developers with HighBridge Properties are eyeing these 5 acres of land off of Olive Drive for a new student housing complex.

The complex, called “Lincoln 40,” would include 120 to 140 units in several three- to five-story buildings on a strip of land adjacent to the railroad tracks. Developers envision building two-, three-, four- and five-bedroom apartment units plus student-oriented amenities such as study rooms, bike service areas and a swimming pool."

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Developments

Progress Student Living Sells Two Student Housing Communities in North Carolina, Georgia

Source: REBusiness.com
Date: January 30th, 2015
"STATESBORO, GA. AND WILMINGTON, N.C. — Progress Student Living has sold two luxury student housing communities that it developed recently in North Carolina and Georgia. Sold in the portfolio transaction were Progress910, a 168-unit rental community with 528 bedroom/bathroom suites near the University of North Carolina Wilmington (UNCW) in Wilmington, and Monarch301, a 180-unit rental community with 546 bedroom/bathroom suites near Georgia Southern University in Statesboro. Progress 910 was completed in August 2014, while Monarch301 was finished in August 2013. Each property is currently 97 percent occupied. Ryan Reid and Ryan Lang of CBRE’s national student housing group in Dallas brokered the two transactions. According to media reports, Santa Barbara, Calif.-based Phillips Acquisitions was the buyer. The transaction price was not disclosed."
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Progress Student Living Sells Two Student Housing Communities in North Carolina and Georgia

Source: StudentHousingBusiness.com
Date: January 22nd, 2015
"Statesboro, Ga. and Wilmington, N.C. — Phillips Acquisitions is the buyer of both properties. Progress Student Living has sold two luxury student housing communities that it developed recently in North Carolina and Georgia. Sold in portfolio transaction were Progress910, a 168-unit rental community with 528 bedroom/bathroom suites near the University of North Carolina Wilmington (UNCW) in Wilmington, North Carolina; and Monarch301, a 180-unit rental community with 546 bedroom/bathroom suites near Georgia Southern University in Statesboro, Georgia. Progress 910 was completed in August 2014, while Monarch301 was finished in August 2013. Each property is currently 97 percent leased. The transaction was brokered by Ryan Reid and Ryan Lang of CB Richard Ellis’s National Student Housing Group in Dallas. According to media reports, Santa Barbara, California-based Phillips Acquistions was the buyer. The transaction price was not disclosed."
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