Drucker + Falk Expands Management Relationship with the Addition of Over 1,500 Units to Southeastern Portfolio

·3 min read

National Property Management Company to Oversee Six Multifamily Communities Across North Carolina

RALEIGH, N.C., July 7, 2022 /PRNewswire-PRWeb/ -- Blackfin Real Estate Investors, LLC and Clarion Partners, LLC named Drucker + Falk (DF) managing agent of six multifamily communities, representing 1,546 apartments combined, that were part of a recent acquisition across several high-growth Sun Belt markets. DF has been awarded management of twelve assets within the Blackfin Real Estate Investors portfolio, totaling 3,315 units, since starting their partnership with investor group back in early 2021.

Three of the six properties now under DF management - Cape Harbor, Clear Run, and Mill Creek Apartments - are located in Wilmington, North Carolina and represent over 1,000 units collectively. The remaining three communities newly awarded to DF include Harris Pond, Mallard Creek, and Northlake Apartments, which are located in Charlotte, North Carolina and total just over 500 units. The portfolio's six garden-style, Class B multifamily communities were constructed between 1972-1995 and community amenities within the portfolio include clubhouses, pools, fitness centers, as well as basketball and tennis courts.

These six assets, along with the others in this portfolio, will be positioned to enhance the existing amenities and interiors of each community. Planned improvements include renovations to the clubhouses, model units, and interiors for the majority of the apartment homes across the portfolio. Interior updates will feature new appliances, new flooring, new countertops, LED lighting, as well as other highly sought out features by today's renters. In addition to these planned improvements, resident amenities will get a refresh and several capital improvements projects including enhancing the curb appeal in high profile areas is anticipated.

Regarding the recent management expansion, Lisa Narducci-Nix, Director of Business Development + Property Development for Drucker + Falk shared, "Blackfin Real Estate Advisors has been a fantastic client to work with and we are thrilled to have the opportunity to expand our relationship with them and now with Clarion Partners. These communities are in solid growth markets, in which we are extremely familiar and we look forward to partnering to improve the resident experience across them all."

ABOUT DRUCKER + FALK
Founded in 1938, Drucker + Falk is a full-service real estate and investment firm managing a diverse portfolio of approximately 40,000 apartment homes and 3,000,000 square feet of office, retail, and industrial properties in twelve states. In addition to managing a broad range of properties, including class A+ to affordable apartment communities, mixed-use and all types of commercial properties, Drucker + Falk offers commercial leasing and sales services and partners with clients on developing new properties, renovating, and repositioning assets, converting historic properties to unique, upscale apartment homes. For more information visit Drucker + Falk.

ABOUT BLACKFIN REAL ESTATE INVESTORS
Founded in August 2016 by Andrew Buchanan and Doug Root, Blackfin Real Estate Investors is focused on acquiring Class B and Class C value add and core plus apartment communities across the East Coast of the United States. Blackfin's hands-on asset management approach and full-service general contracting company enable it to take an active and holistic approach to every aspect of the investment. Blackfin's 4 key executives have over 110 years of combined experience and complimentary skills acquiring, financing, renovating, and operating multifamily real estate. Blackfin's portfolio currently consists of 10,000 units that represent a total asset value of over $2 Billion. The portfolio's geography spans from Boston through Florida and includes assets in Boston, Suburban Maryland, Northern Virginia, Richmond, Hampton Roads, Charlotte, Raleigh-Durham, Greensboro, Wilmington, Charleston, Orlando, Tampa, and Nashville. For more information contact 703-778-7641 or visit their website.

Media Contact

Amanda McCrowell, Drucker + Falk, 757-406-1187, am@two17.co

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SOURCE Drucker + Falk