As reported in this Commercial Appeal article. Makowsky Ringel Greenberg recently submitted the winning bid on a rare availability of infill parcels in Midtown Memphis. The eight acres owned by the state is divided into four non-adjacent parcels and is located on Sam Cooper Boulevard near East Parkway in Midtown Memphis.
Posted in Special Events
Jimmy Ringel, MRG chief operating officer, was a presenter in the annual Commercial Real Estate Seminar hosted by The Memphis Daily News held on November 5th. Ringel presented an analysis of the state of the local and national multi-family market to the 200 plus attendees. Ringel’s presentation covered the current occupancy and rent trends in the Memphis market, as well as a breakdown of the upcoming new construction projects in the area. He joined a panel consisting of representatives from each of the primary commercial real estate asset classes, including industrial, office, and retail, as well as McLean Wilson, who gave a keynote address on the redevelopment of the Crosstown Concourse.
Download Jimmy’s presentation here.
Posted in General News
MRG hosted a celebratory ribbon-cutting at the Signature at Schilling Farms apartments in Collierville, Tennessee on October 20th. The event was held to commemorate the official lease-up of the MRG-developed property that began in August 2014 and continued in phases as each of several apartment buildings was completed. Demand has been excellent for the luxury apartments, with occupancy reaching 94% at the time of the ribbon cutting.
Collierville Mayor Stan Joyner joined MRG principals Gary Makowsky, Jimmy Ringel, and Michael Greenberg to cut the ribbon at the late afternoon event. Representatives of the Collierville Chamber of Commerce, investors in the property, firms participating in the design and construction of the property, and MRG employees were in attendance.
Posted in Awards
Pam Anderson, a district property manager with MRG, received her Certified Property Manager (CPM) designation from the Institute of Real Estate Management (IREM) at the organization’s monthly luncheon in September. Anderson, who has worked with MRG since 2006, completed several real estate investment and management courses and created a management plan in order to attain the designation. The CPM is the highest designation awarded by IREM, an international real estate education association based in Chicago. Anderson is the sixth person at MRG, including the firm’s principals, to hold the designation.
Posted in Awards
The management staff of Southcrest Lake Apartments won Makowsky Ringel Greenberg’s annual “Leasing Idol” competition in August. Each year, MRG conducts the program, which is a combined leasing technique contest and training program. The firm has run the competition annually since 2003, and credits the program with helping to develop some of the company’s best leasing consultants. The program consists of scoring based on three rounds of mystery shops throughout the year, and a phone skills competition and in-person demonstration—graded by the company’s 70 property managers, assistant managers, and leasing consultants. MRG developed the 224-unit Southcrest Lake apartment community, which is located in Southaven, MS, in 1990. The property currently has an occupancy rate of 96%.
Posted in Under Management
In April of this year, MRG was hired by an international investor to manage 750 Adams Place, a 201-unit apartment building in the Memphis medical district. MRG will be assisting the new owner of the property in the re-positioning of the apartment community, providing advice in areas such as enhanced amenities, upgraded landscaping and entrance, interior furnishings, and new signage. As a result of a focus on improvements in maintenance, marketing and overall service, MRG’s property management team has been able to increase occupancy from 88% at the time of the take-over to 95%, while also increasing rents.
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