Three Rivers Apartments, Fort Wayne, IN
"As Drucker + Falk continues to grow in the multifamily space, we will apply the same focus on People, Process and Performance that has led to one of the largest growth periods in Drucker + Falk’s history," said Wendy Drucker, Managing Director at Drucker + Falk.
NEWPORT NEWS, Va. (PRWEB) February 28, 2020
In a continued expansion of the growing relationship with New York City based Beitel Group, formerly known as Besyata, Drucker + Falk assumed management of more than 1,100 apartment homes in Indiana, expanding Drucker +Falk operations to the Indianapolis and Fort Wayne markets.
Beitel Group is a family-owned real estate powerhouse managing a billion-dollar portfolio of multifamily, shopping center, and new development projects across 11 states. With an acquisition strategy of acquiring undermanaged assets that with increased capital and hands on asset management offers substantial value add upside, Beitel Group has a 75-year performance history of generating 25% average IRR on investments.
Ben Beitel, CEO, Beitel Group, said “generating solid returns for our investors is paramount. Our growing partnership with Drucker + Falk is attributed to the stellar manner in which they work with our asset management team to generate outstanding operating performance such as what was achieved at Providence Green (formerly known as Brookfield Apartments) in Virginia Beach, VA. The Drucker + Falk team is highly responsive to us as a client, and has a resident centric focus that they apply to every property. Consistent attainment of owner goals, unmatched integrity and transparency and the passion with which the site teams direct operations, played a significant role in expanding our management partnership.”
Indiana represents a growing market for Drucker + Falk and comes on the heels of one of the strongest multifamily management growth periods in the firm’s history. The addition of the Indiana assets brings Drucker + Falk’s multifamily management portfolio to 40,000 apartment homes across 13 mid-Atlantic and Southeast states. These new additions to the Drucker + Falk portfolio include Three Rivers Apartments, a High Rise with 354 apartment homes in Fort Wayne; Astoria Park Apartments, a Garden-style community with 470 apartment homes in Indianapolis, and Southport Crossing Apartments, another Garden-style community in Indianapolis with 328 apartment homes.
A full service real estate services and investment firm, Drucker + Falk was founded in 1938, currently employs more than 1,000 team members and has offices in Newport News, Virginia, Richmond, Virginia, Raleigh, North Carolina, Charlotte, North Carolina, Atlanta, Georgia and Columbus, Ohio.
“It’s always such a good feeling to see our operations expanding across the map. It speaks to the talent, commitment and operating performance of our site teams. As Drucker + Falk continues to grow in the multifamily space, we will apply the same focus on People, Process and Performance that has led to one of the largest growth periods in Drucker + Falk’s history," said Wendy Drucker, Managing Director at Drucker + Falk.
ABOUT DRUCKER + FALK
Founded in 1938, Drucker + Falk is a full service real estate and investment firm managing a diverse portfolio of nearly 40,000 apartment homes and approximately 3,000,000 square feet of office, retail and industrial space in 13 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 partners with clients on developing new properties, renovating and repositioning assets, converting historic properties to unique, upscale apartment homes and offers commercial leasing and sales services. For more information visit Drucker + Falk.