BROOKLYN, N.Y., June 26, 2007 (PRIME NEWSWIRE) -- Real Capital Analytics (RCA) named Collins Group LLC the eighth largest private out-of-state multifamily buyer in America in its recent Capital Markets Report, President and Managing Director Ari Parnes stated at Collins' corporate meeting at their Brooklyn headquarters.
The report noted Collins' new purchases totaling $388 million over the previous 12 months. During the time period, Collins' portfolio expanded to over 12,500 units with its addition of 15 properties.
The Real Capital Analytics Top 10 Private, Out-Of-State Multi-Family buyers chart is available at http://media.primezone.com/cache/6127/file/4317.jpg
"Collins is no stranger to the Southeast and other burgeoning markets, and we're currently expanding into new markets," Acquisition and Finance VP Jay Herman was quoted as saying. "RCA noted Atlanta as a key market for investment and this has been Collins' philosophy all along. We like the Southeast and we remain interested in the Atlanta market's quality of assets combined with its steady population and business growth," Parnes added.
"Collins' portfolio expansion is on pace to continue at the same rate for the remainder of 2007 and beyond," President and Managing Director Ari Parnes noted. "Collins Group is currently engaged in acquiring value-added portfolios not only in the Southeast but nationwide," Parnes said.
"Collins' acquisition earlier this year of 1,166 units in Knoxville from Wilkinson Properties is representative of the type of deals we're looking for now: portfolios in up-and-coming markets where we can continue to improve assets, fine tune management and improve tenant quality of life. Our being a private entity gives us some flexibility not enjoyed by our publicly traded and institutional counterparts," Parnes continued. Collins' Knoxville acquisition followed its much-publicized purchase of 2,284 units in Birmingham from Colonial Properties Trust, one of the largest multifamily deals in the state of Alabama.
Collins' multifamily portfolio currently has an aggregate value approaching $1 billion, Parnes said.
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