According to Makowsky Ringel Greenberg COO, Jimmy Ringel, the multifamily market in Memphis is stable overall, though popular areas like Downtown, Midtown, Collierville and Germantown are seeing the growth while other areas that tend to have more C properties, are not faring quite as well.
Ringel recently shared information with the Memphis Daily News about the market in general as well as MRG’s new development, the Signature at Schilling Farms. The Signature will contribute nearly 20% of the new units coming online in the market in 2014. The majority of the luxury apartments at the Signature will feature attached garages.
Posted in General News
There was a bidding war within MRG to see which employees would get the honor of putting a little cold water on Makowsky, Ringel and Greenberg.
The highest bidders, Barbara Taylor, Pam Anderson and Jason Burnett, made quite a splash as they helped Gary, Michael and Jimmy respond to the ALS Ice Bucket Challenge that had been issued by CLK Multifamily Management. To see the live action, click here.
Jimmy Ringel has now issued the challenge to district property managers Pam Anderson, Dawn Barber and Tara Werne. Maybe a little payback for that perfect pour from Pam?
There’s been terrific demand for the new, spacious apartment homes at the Signature at Schilling Farms. It has been only a couple of weeks since the first residents moved in to one of the first buildings completed in the new luxury community that will eventually include 250 apartment homes. Floor plans range from a one-bedroom efficiency to three-bedroom townhomes boasting more than 1640 square feet of space. The clubhouse is set to open soon and will be followed soon after by a gorgeous swimming pool, fitness center, picnic/grilling area and a variety of well-manicured outdoor living spaces and trails.
Learn more about how the Signature at Schilling Farms came to be in this recent Daily News article
Posted in General News
Both Gary Makowsky and Jimmy Ringel spent part of their high school and college summers around the pool. But they weren’t swimming. And they weren’t lifeguards. Instead they were getting their feet wet for careers in the family business by cleaning the pools at the apartment communities owned and managed at the time by their fathers, Jerome Makowsky and Nick Ringel.
Today, Jimmy serves as chief operating officer of Makowsky Ringel Greenberg, LLC and Gary is chief development officer, both representing the second generation of this multifamily family. Joined by Michael Greenberg, CEO and son-in-law to Jerome, this team of three oversees the management of more than 6,000 apartment units in the Memphis Metro, as well as over 1 million square feet of commercial real estate-primarily retail and smaller industrial/flex space. Learn more about the history of this family business in this recent feature article from units Magazine.
Posted in Recent Transactions
Michael Greenberg represented Highway 64 Partners LP, et al, in the sale of 5.319 acres on Highway 64 at I40 in Lakeland for $1.3 million. The property was sold to Lakeland 64, LLC, a company affiliated with the Barclay Group of Phoenix, Arizona. Barclay has plans to develop a 45,000 square foot build-to-suit for an L.A. Fitness Center on the property.
Gary Lubin recently represented the landlords of Crestview I and II, located on Crestview Drive in northeast Memphis, in the relocation and expansion of Electronic Security Systems Corporation from 3,000 square feet in Crestview II to 5,500 square feet in Crestview I.
Roger McLemore represented the landlords of Crestview II in two recent transactions. Ashlye McCormick Design has leased 3,000 square feet and Michael Chambers has also leased 3,000 square feet for a restoration business.
Posted in Awards
MRG had another winning year at the 10th annual Diamond Achievement Awards, sponsored by the Apartment Association of Greater Memphis and held January 10th at the Kemmons Wilson Holiday Inn at the University of Memphis. Our eight awards included both of the event’s Outstanding Management Team honors (Monticello and Highland Chateau). For the third year in a row, MRG took home the trophy for Top Shop for best performance on a leasing mystery shop, thanks to Cassandra Johnson at Highland Chateau. And hats off to Dawn Barber, who was recognized as Best Multi-Site Supervisor, the second time Dawn has received this honor.
Congratulations to all of the 2014 MRG winners:
Best Clubhouse/Leasing Center, 8-18 Years Old: The Westbury
Assistant Manager of the Year, 1-299 Units: Marnita Beach Copes, Champion Hills at Windyke
Property Manager of the Year, 1-299 Units: Khristy Kline, University Crossing
Top Shop Award: Cassandra Johnson, Highland Chateau Apartments
Outstanding Management Team, 1-299 Units: Monticello Apartments
Outstanding Management Team, 300+ Units: Highland Chateau Apartments
Above and Beyond Maintenance Award: Steve Craft, Corporate Rovers
Best Multi-Site Supervisor, 501+ Units: Dawn Barber
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