Category : Press

Flagship Downtown Apartment Project Sells to Another Dallas Firm

Posted on: December 30, 2021 by Arpit Shah
Encore SoFlo

(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.”

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

Posted on: December 28, 2021 by Arpit Shah
Dr. Bharat Sangani

(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.

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Market and Main in Bedford Back on Track

Posted on: December 26, 2021 by Arpit Shah
Market and Main

(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.

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

Posted on: January 14, 2021 by Arpit Shah

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.

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Encore Marriott Hotels Receive Multiple Awards

Posted on: January 8, 2021 by Arpit Shah

Marriott Select Brands Award Encore Enterprises Encore Hospitality

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.

Boutique Hotel Opens at The Battery Atlanta

Posted on: September 17, 2020 by Arpit Shah
Boutique hotel opens at The Battery Atlanta Encore Hospitality

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.

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

Posted on: February 14, 2020 by Arpit Shah
Encore SoFLo Lobby San Antonio

SAN ANTONIO, TX — 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.

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DoubleTree Suites Atlanta Receives 2020 Best of Atlanta Award

Posted on: January 25, 2020 by Arpit Shah

Doubletree Best of Atlanta

ATLANTA — Doubletree Suites by Hilton Hotel Atlanta has been selected for the 2020 Best of Atlanta Award in the Hotels category by the Atlanta Award Program.

Each year, the Atlanta Award Program identifies companies that they believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and their community. These exceptional companies help make the Atlanta area a great place to live, work and play.

Various sources of information were gathered and analyzed to choose the winners in each category. The 2020 Atlanta Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Atlanta Award Program and data provided by third parties.

TFMoran and Encore Enterprises Complete Phase One of Market and Main

Posted on: July 1, 2019 by Arpit Shah
Trader Joe's at Market and Main in Bedford, New Hampshire

BEDFORD, NH — Phase One of the reconstruction of the former Macy’s site on South River Rd. is now complete. The first two retailers opened their doors in early spring at “Market and Main,” a new high-end lifestyle center.

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New Luxury Apartments Coming to Katy in Fall 2019

Posted on: June 10, 2019 by Arpit Shah
Encore Grand Crossing Elevations in Katy, Texas

KATY, TX — A new high-end apartment complex will break ground in Katy this fall.

Encore Grand Crossing will be located at the northwest corner of West Fernhurst and Western Center Drive near Grand Parkway and I-10, said Charlie Keels, the president of Dallas-based Encore Multi-Family.

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